Crypto News

2022-12-22 09:32:57 Bitcoin miner Core Scientific files for bankruptcy, has over $1B in liabilities

Publicly traded crypto miner Core Scientific filed for Chapter 11 bankruptcy protection on Dec. 21 at the Southern District of Texas bankruptcy court. According to court documents, the miner has liabilities between $1 billion- $10 billion. On Dec. 20, CNBC reported that Core Scientific was still generating a positive cash flow. However, the funds are not enough to finance the debts owed on its mining equipment. Meanwhile, the company would continue to operate while negotiating a deal with senior security holders that hold most of its debt. Open / Comment

2022-12-21 11:49:54 Binance.US agrees to buy Voyager's assets

Binance.US has entered into an agreement with Voyager Digital to acquire the bankrupt crypto lender's assets. “Our bid is a reflection of our guiding principle that customers should come first," Brian Shroder, Chief Executive Officer and President of Binance.US. Open / Comment

2022-12-19 19:03:19 Next 5-10 years are probably your last opportunity to make x100-x1000 in the Crypto market.

What can I (and you) do here:

use 10-20% of monthly income to buy crypto: BTC, ETH or DCA into stablecoins and find yourself a safe platform which will grow that supply

invest into infrastructural blockchain project with actively developing ecosystems

In my blog I will try to simplify as much as I can from my education in investing and 7+ years of experience in crypto.

Follow for crypto advice and investing tips:
Gene, CEO of Earnpark Open / Comment

2022-12-19 10:41:53 Daily active users in web3

BNB Chain ~1.1m
Polygon ~394.5k
Ethereum ~344.6k
Solana ~120.3k
Fantom ~58.2k
Arbitrum ~58k
OpenSea ~54.4k
Optimism ~49.3k
Uniswap ~44.5k
Avalanche ~30k Open / Comment

2022-12-11 19:05:45 U.S. prosecutors probing FTX founder Sam Bankman-Fried in potential fraud case: Bloomberg

U.S. prosecutors are probing Sam Bankman-Fried, the disgraced founder of now-bankrupt crypto group FTX, for a potential fraud case against him, Bloomberg reported Friday, citing a person familiar with the matter. Open / Comment

2022-11-30 20:16:51 The blockchain industry was built on the promise of decentralization, but ended up being concentrated in the hands of a few who began to abuse their power. As a result, a lot of people lost their money when FTX, one of the largest exchanges, went bankrupt.

The solution is clear: blockchain-based projects should go back to their roots – decentralization. Cryptocurrency users should switch to trustless transactions and self-hosted wallets that don't rely on any single third party.

We, developers, should steer the blockchain industry away from centralization by building fast and easy-to-use decentralized applications for the masses. Such projects are finally feasible today.

It took only 5 weeks and 5 people including myself to put together Fragment – a fully decentralized auction platform. We were able to do this because Fragment is based on The Open Network, or TON – a blockchain platform that is fast and efficient enough to host popular applications (unlike Ethereum, which unfortunately remains outdated and expensive even after its recent tweaks).

Fragment has been an amazing success, with 50 million USD worth of usernames sold there in less than a month. This week, Fragment will expand beyond usernames.

Telegram's next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies. This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users.

The time when the inefficiencies of legacy platforms justified centralization should be long gone. With technologies like TON reaching their potential, the blockchain industry should be finally able to deliver on its core mission – giving the power back to the people. Open / Comment

2022-11-28 18:31:04 Join Now Open / Comment

2022-11-28 18:30:10 Financial literacy 101

You need to spend less each month than you earned in the previous month.

Income - Expenses = Delta
Delta>0 - investment resource
Delta<0 - first make it > then start investing

Goal is to save 10-20% of monthly income.

Lifehack: get your paycheck, save up the delta and forget about it.

Then, calculate your daily budget: take your last month's income (minus the delta) and divide it by 30 days. Here you have your daily budget.
If you can't control yourself, you can set a limit in your bank account. If unforeseen expenses come up, than don't take from the next days, use the financial cushion you already have.
Just like that!
If you don't learn to do this with your income now, than when your income grows your losses will grow with it.

Remember the 50/30/20 rule:

50% - for your needs
30% - for your wants
20% - for your financial goals: savings and paying debts

By spending less on things that aren't that important, you will have more for what's really important.

In this blog I will try to simplify as much as I can from my education in investing.

Follow for crypto advice and investing tips:
Gene, CEO of Earnpark Open / Comment

2022-11-25 16:35:05 Binance targets $1 billion for 'industry recovery fund'

Crypto exchange operator Binance is aiming to amass around $1 billion for its recently announced "industry recovery fund.". CEO Changpeng "CZ" Zhao discussed the plan on Bloomberg Television on Thursday, and a Binance spokesperson later confirmed it in a message to The Block. Binance will follow a "loose structure" for the fund where different industry players can contribute as they wish, Zhao said. Contributors will have to send funds to a blockchain address that the public can view, he added. A detailed blog post about the fund is expected to be published soon. The fund will target projects which are otherwise strong, but facing a liquidity crisis. Open / Comment

2022-11-19 05:43:41 Cardano developer Emurgo to issue fiat-pegged stablecoin called USDA

Cardano developer Emurgo announced plans to issue a U.S. dollar-pegged stablecoin called USDA on the network in early 2023. The Cardano developer also revealed that USDA will be the first delivery from its Anzens product market line. Anzens is the Cardano developer’s financial services product, created to bridge crypto and real-world finance. Stablecoins have become an integral part of the crypto trading and credit ecosystem. Major Layer 1 networks including Ethereum, BNB Chain and Solana have stablecoins. These stablecoins facilitate activities like trading, borrowing, lending and staking, among others. Such stable currencies offer a means of transferring value between the crypto and broader financial markets. They also help users store value, as crypto tokens tend to have volatile price movements. Open / Comment