Crypto Never Sleeps Broad

2023-01-25 01:29:23

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2023-01-24 13:05:39 THE LATEST CRYPTO NEWS FROM CNS

BlockFi exec argues bankruptcy court should approve bonuses to retain talent

Megan Crowell, the chief people officer at crypto lending firm BlockFi, has petitioned a court to allow bonuses for “key employees” amid Chapter 11 bankruptcy proceedings.

In a Jan. 23 declaration for United State Bankruptcy Court in the District of New Jersey, Crowell said that without giving certain financial incentives, BlockFi might be unable to retain employees in a “highly competitive” crypto industry. According to the BlockFi executive, many staff were “highly likely to leave the company” during the Chapter 11 process without “competitive compensation,” potentially adding to costs down the road.

https://cointelegraph.com/news/blockfi-exec-argues-bankruptcy-court-should-approve-bonuses-to-retain-talent


We Must Expedite the Move From Centralized Services to Viable DeFi Alternatives

The gross mismanagement and outright fraud in 2022 by many opaque centralized exchanges are driving people back to the core tenets of crypto, such as decentralization, self-custody, transparency, and censorship resistance. People are naturally turning to DeFi (decentralized finance). Unfortunately, much of DeFi is not yet ready to act as a suitable substitute.

https://news.bitcoin.com/we-must-expedite-the-move-from-centralized-services-to-viable-defi-alternatives/


BlockFi to sell $160M in Bitcoin miner-backed loans

Bankrupt crypto lending firm BlockFi reportedly has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings.

In a Bloomberg report on Jan. 24, two people “familiar with the matter” claimed that BlockFi started the process of selling off the loans last year.

The crypto lender filed for Chapter 11 bankruptcy in November, citing its significant exposure to the now-defunct crypto exchange FTX for its downfall.

https://cointelegraph.com/news/blockfi-to-sell-160m-in-bitcoin-miner-backed-loans-report Open / Comment

2023-01-23 23:12:42

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2023-01-23 17:16:11 please beaware of fake accounts!!! remember i never ask you about your tading and i never try to sell you anything!!!! all i want is a like Open / Comment

2023-01-23 14:46:38 THE LATEST CRYPTO NEWS FROM CNS

Cardano recovers from an outage on 50% relay and block-producing nodes

Cardano stake pool operators (SPO) and users have been reporting at least half of the nodes for the network briefly went offline over the weekend.

According to a Jan. 22 post shared on the Telegram SPO for Input Output Global, the engineering and research fintech behind the Cardano blockchain, an anomaly caused 50% of Cardano nodes to disconnect and restart.

https://cointelegraph.com/news/cardano-recovers-from-an-outage-on-50-relay-and-block-producing-nodes


Davos-launched blockchain project aims to be the ‘SWIFT’ of stablecoins and CBDCs

A Hong Kong-based blockchain company has launched a digital payments system aimed at bridging the gap between stablecoins and central bank digital currencies (CBDCs).

Red Date Technology, the blockchain infrastructure firm that is also leading one of China’s blockchain efforts, launched the Universal Digital Payment Network (UDPN) on Jan. 19 during the World Economic Forum (WEF) 2023 meeting in Davos, Switzerland.

https://cointelegraph.com/news/chinese-blockchain-firm-launches-the-swift-of-stablecoins-and-cbdcs-at-davos


Terra lending protocol Mars to launch mainnet

The original Terra lending protocol, Mars Hub, has announced it will launch its independent Cosmos application chain on Jan. 31, as well as issue MARS tokens to users who hold it during two snapshots on Terra Classic.

According to a Jan. 20 statement, the Mars Hub mainnet will go live with 16 genesis validators, including Block Pane, Chill Validation, Chorus One, Cosmology, CryptoCrew Validators, ECO Stake and others. An additional 34 slots for permissionless validators will be available post-launch.

https://cointelegraph.com/news/terra-lending-protocol-mars-to-launch-mainnet


Binance Charity to provide over 30K Web3 scholarships in 2023

The philanthropic arm of Binance — Binance Charity — is set to fund 30,65 scholarships to students keen on forging out a career in Web3 in 2023.

The Binance Charity Scholar Program (BCSP) will provide free Web3 education and training courses which will enable tech-savvy students to upskill without having to leap-frog any unnecessary financial barriers, Binance Charity explained

https://cointelegraph.com/news/binance-charity-to-provide-over-30k-web3-scholarships-in-2023


South African ads do not comply with cryptocurrent standards for advertising codes

South Africa’s Advertising Regulatory Board (ARB) has included a new clause for the cryptocurrency industry aimed at protecting consumers from unethical advertising.

Companies and individuals in South Africa must abide by certain advertising standards pertaining to the provision of cryptocurrency products and services in a new clause introduced to Section III of the country’s advertising code.

https://cointelegraph.com/news/south-africa-adds-new-cryptocurrency-standards-to-advertising-code Open / Comment

2023-01-22 01:03:54 Blackout in ukraine.... Open / Comment

2023-01-18 16:49:40 Sole meuniere! Cooked and served in Annecy. With a bottle of pouilly fuisse premier cru... we survived the bear market. 3rd cycle in full swing. Institutional investors entering the crypto market.... retail will follow and thats when you and i will start exiting the market again... but we still are a long time away from that. Bonne appetit. Enjoy because you are NO1 Open / Comment

2023-01-18 10:07:36 THE LATEST CRYPTO NEWS FROM CNS

Digital Currency Group halts dividends in an effort to preserve liquidity

Venture capital firm Digital Currency Group (DCG) has told shareholders it is halting its quarterly dividend payments until further notice as it attempts to preserve liquidity.

According to the letter sent to shareholders on Jan. 17, the firm is focused on “strengthening our balance sheet by reducing operating expenses and preserving liquidity.” DCG said it was also considering selling some of the assets within its portfolio.

https://cointelegraph.com/news/digital-currency-group-halts-dividends-in-an-effort-to-preserve-liquidity

WEF publishes new in-depth guide to DAOs to air issues, encourage development

The World Economic Forum (WEF) released a “toolkit” for decentralized autonomous organizations (DAOs) on Jan. 17. More than 100 experts contributed to the document’s attempt to provide “a starting point for DAOs to develop effective operational, governance and legal strategies.”

The 37-page so-called toolkit is explanatory in nature, with concise but encyclopedic entries on DAOs and related topics. It described the toolkit as “a set of adaptable resources for key stakeholders to help realize the full potential of this emerging form.” DAOs have “the potential to address many of the shortcomings of the traditional firm while also realizing more equitable governance and operations,” according to the document.

https://cointelegraph.com/news/wef-publishes-new-in-depth-guide-to-daos-to-air-issues-encourage-development


WEF panel discusses the coming tokenized economy

In a wide-ranging discussion, a panel of blockchain industry personalities at the World Economic Forum (WEF) concluded that the economy will become increasingly tokenized in the future. Carbon credits, housing, electricity, government bonds, foreign exchange and other real-world assets will be traded on the blockchain, according to the panel’s participants.

The event, titled “Tokenized Economies, Coming Alive,” featured Circle CEO Jeremy Allaire, Bitkub Capital CEO Jirayut “Topp” Srupsrisopa, Finnish Minister of Transport and Communications Timo Harraka, and Yield Guild Games co-founder Beryl Li.

https://cointelegraph.com/news/wef-panel-discusses-the-coming-tokenized-economy


Africa Web3 games publisher Carry1st raises $27M

Mobile games publisher Carry1st has closed a $27 million funding round to advance its publishing and digital content creation platform in Africa — a region its backers say is ripe for Web3 adoption.

The $27 million funding round was led by Bitkraft Ventures, with additional participation from Andreessen Horowitz, also known as a16z. TTV Capital, Konvoy, Alumni Ventures, Lateral Capital and Kepple Ventures also participated in the funding round.

https://cointelegraph.com/news/africa-web3-games-publisher-carry1st-raises-27m


Hong Kong investment fund raises $500M to push mass adoption in Web3

Despite the ongoing crypto winter, which has affected many businesses in the greater Web3 space, investments continue pouring into the space.

On Jan. 17, Hong Kong-based global asset manager HashKey Capital announced the closing of a $500 million investment round for its FinTech Investment Fund III.

According to the company, Fund III will be used to invest in infrastructure, toolings and applications that will help push the mass adoption of blockchain and crypto technologies.

https://cointelegraph.com/news/hong-kong-investment-fund-raises-500m-to-push-mass-adoption-in-web3 Open / Comment

2023-01-17 12:11:52 THE LATEST CRYPTO NEWS FROM CNS

Crypto mining stocks surge to yearly highs after Bitcoin bounces back price rebound to a multi-month high has rubbed onto the mining stocks as well. Many of these crypto-mining stocks recorded their best monthly performance in a year. The surge in mining stocks also came as a relief for the troubled miners who had to sell a significant chunk of their mined coins to boost liquidity last year.

Bitfarms, one of the top BTC mining firms registered a 140% surge in the first two weeks of January followed by Marathon Digital Holdings Inc. with a 120% surge. Hive Blockchain Technologies Ltd. saw its stock value nearly double in the same period while MVIS Global Digital Assets Mining Index is up by 64% in the first month as well.

https://cointelegraph.com/news/crypto-mining-stocks-surge-to-yearly-highs-after-bitcoin-bounces-back


SushiSwap’s new DEX aggregator will ‘10x our market share’ — Head Chef

Just a month after warning of a “significant deficit” in its treasury, the CEO of decentralized exchange (DEX) SushiSwap has shared several planned updates to the platform, which it says is intended to “10x” its market share in 2023.

Sushi CEO Jared Grey laid out the plans for the decentralized finance (DeFi) platform in a Jan. 16 Medium post, saying it will focus on its product stack in line with prior plans to make Sushi more sustainable.

https://cointelegraph.com/news/sushiswap-s-new-dex-aggregator-will-10x-our-market-share-head-chef


EU finance ministers’ group releases statement on political aspects of digital euro

The finance ministers from the eurozone countries have released a statement on the introduction of the digital euro after a meeting in Brussels. The Eurogroup meets regularly to discuss political dimensions of the potential digital currency, it said. The Jan. 16 statement coincides with the release of a European Central Bank (ECB) “stock taking” document detailing the progress of digital euro design.

The Eurogroup statement addressed the need for the European Central Bank and European Commission to inform the Eurogroup and EU member states of developments in the creation of the digital euro, which is in its investigative phase.

https://cointelegraph.com/news/eu-finance-ministers-group-releases-statement-on-political-aspects-of-digital-euro


Binance to let institutions store crypto with cold custody

Amid the centralized cryptocurrency exchanges (CEX) crisis, crypto exchange Binance is moving to improve its institutional trading services with cold-custody opportunities.

On Jan. 16, Binance announced the official launch of Binance Mirror, an off-exchange settlement solution that enables institutional investors to invest and trade using cold custody.

The newly launched Mirror service is based on Binance Custody, a regulated institutional digital asset custodian, and involves mirroring cold-storage assets through 1:1 collateral held on a Binance account.

https://cointelegraph.com/news/binance-to-let-institutions-store-crypto-with-cold-custody


Binance, Huobi team up to recover $2.5M from Harmony One hackers

Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin from hackers behind the Harmony bridge exploit.

In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After Binance detected this, they contacted and assisted Huobi in freezing and recovering the digital assets deposited by the hackers.

https://cointelegraph.com/news/binance-huobi-team-up-to-recover-2-5m-from-harmony-one-hackers Open / Comment

2023-01-16 13:04:06 THE LATEST CRYPTO NEWS FROM CNS

Shiba Inu devs to launch Shibarium L2 network beta

The developers of the dog-themed token Shiba Inu posted an update to inform its community about its upcoming beta release of Shibarium — a layer-2 network that will run on top of the Ethereum mainnet.

In the announcement, SHIB developers shared information about layer-2 blockchains. They highlighted that Shibarium is being developed to provide a tool to allow the community to build and grow the project and fulfill its founder’s vision. While some believe creating Shibarium is a way to increase the memecoins price, the developers noted that this wasn’t the goal.

https://cointelegraph.com/news/shiba-inu-devs-to-launch-shibarium-l2-network-beta


Twitter’s crypto price index feature expands to 30 tokens and counting

Twitter has quietly expanded its new crypto feature that enables users to search the price of individual tokens, adding at least another 30 tokens.

The new additions are part of the social media giant’s “$Cashtags” feature, announced by the Twitter Business account on Dec. 21. Bitcoin (BTC) and Ether (ETH) were the first to be part of the new feature.

https://cointelegraph.com/news/twitter-s-crypto-price-index-feature-expands-to-30-tokens-and-counting


Bank of Thailand to allow first virtual banks by 2025

Bank of Thailand has disclosed plans to allow virtual banks to operate in the country for the first time. Financial firms will be able to provide services by 2025, a Bloomberg report shows.

The “Consultation Paper on Virtual Bank Licensing Framework” published by the central bank says that applications will be available later in 2023 allowing virtual banks to act as financial services providers. The move focuses on increasing competition and boosting Thailand’s economic growth.

The Bank of Thailand will issue three different licenses for interested companies by 2024. There are at least 10 parties interested in granting permissions, the report states.

https://cointelegraph.com/news/bank-of-thailand-to-allow-first-virtual-banks-by-2025 Open / Comment