Altcoin Holder

2022-10-12 15:17:24 ​Mt. Gox trustee sets registration deadline of Jan. 10 for repayment selection.

Users of the Mt. Gox exchange may be one step closer to getting their funds back after trustee Nobuaki Kobayashi announced the options for repayment.

Creditors from the defunct crypto exchange Mt. Gox have until January 2023 to register and select a repayment method as part of the plan by which they will be compensated for their losses.

According to an Oct. 6 announcement from Mt. Gox trustee Nobuaki Kobayashi, creditors have until Jan. 10 to select a repayment method and to register payee information in an online rehabilitation claim filing system to be paid through bank remittance, fund transfer service provider, a cryptocurrency exchange or custodian. Kobayashi’s update is the latest development in a rehabilitation plan that began with a 2018 petition to compensate Mt. Gox creditors for their lost funds following the exchange’s collapse in 2014.

“If you do not complete the necessary Selection and Registration, you will not be able to receive any of the Repayments below, and you will need to bring the required documents to the MTGOX Co., Ltd. head office or other place designated by the Rehabilitation Trustee and receive Repayment in Japanese yen,” said the notice. “If you are unable to receive such Repayment, the Repayment amount will be deposited with the Legal Affairs Bureau.”

Crypto exchange Bitstamp announced it will be one of firms supporting the repayment plan. Open / Comment

2022-10-09 14:20:00 ​​ Ark Investment sold part of its Coinbase stock due to market uncertainty

Ark Investment, a fund headed by Katie Wood, was forced to sell some shares of the cryptocurrency company Coinbase in July. This decision was made amid market uncertainty and increased regulatory pressure on the cryptosphere.

According to Bloomberg, Katie Wood's fund sold 1.41 million shares of Coinbase for a total of about $75 million. Ark Investment began selling the asset a few days after the Securities and Exchange Commission (SEC) opened an investigation into Coinbase.

The U.S. regulator was interested in the listing of some tokens on the exchange, which it classifies as unregistered securities. Cathy Wood said her team had concerns that the SEC investigation would make the exchange less attractive to traders. Accordingly, its turnover and financial performance will decline.

Some shares were exchanged for Shopify securities. At the moment, Ark Investment still owns about 7.1 million shares of the cryptocurrency exchange.

In April 2022, it was announced that the team of Katie Wood was ending its partnership with the payment system PayPal. The parties had been business partners for the past few years. Open / Comment

2022-10-06 12:00:06 ​​Circle removed $9 billion from USDC supply in the last three months

The total supply of the stablecoin USD Coin (USDC) has declined from $55.55 billion to $46.57 billion in the last 90 days, based on data from DeFiLlama.

This means that Circle, the USDC issuer, has burned about $9 billion worth of the stablecoin within the period.

It is the highest volume of USDC destroyed by Circle in any 90-day period. It also includes $1 billion that was removed from the stablecoin's supply on Tron network in one day, earlier in October.

Circle burns USDC when a user redeems the coin for the underlying fiat currency, usually US dollars, that backs the stablecoin. The company does this by sending the redeemed tokens to the burn address, permanently deleting those coins from the blockchain record.

This spike in USDC burn has coincided with a marked decline in the yield offered by major DeFi platforms to stablecoin lenders. Data from LoanScan shows USDC lending rate on Compound and Aave has shrunk more than 70% since the start of the year. Open / Comment

2022-10-04 10:18:07 ​​ Kazakhstan is ready for legalization of cryptocurrencies

The first conversion of tenge into cryptocurrency successfully took place this week at the Astana International Financial Center (AIFC). President Kassym-Jomart Tokayev noted that the country is ready for full legal recognition of this asset class, if the demand for it remains high.

Recall that this summer Kazakhstan launched a pilot project with participation of crypto-exchanges, local banks and MFCA. Its essence is a test run of blockchain infrastructure on the basis of traditional financial system.

If the test is successful, customers of banks from Kazakhstan will be able to open accounts in cryptocurrency, and exchanges will be able to register and provide services completely legally.

The project is planned to be completed by the end of this year. If it shows positive results, the Kazakh government will consider the option of full legalization of cryptocurrencies. Open / Comment

2022-10-02 10:38:31 ​​Solana’s Blockchain Deals With More Downtime — Misconfigured Node Blamed for the Outage

Solana’s network had an outage again after validators failed to process blocks due to a misconfigured node within the system. On September 30, 2022, the Twitter account Solana Status wrote:

The Solana network is experiencing an outage and not processing transactions. Developers across the ecosystem are working on diagnosing the issue and to restart the network. More information will be provided as it becomes available.

Following the Solana Status update, a Solana proponent explained that the blockchain would be restarted. “The Solana mainnet network will be restarted at slot 153139220, the last confirmed slot,” the individual said. “It appears a misconfigured node caused an unrecoverable partition in the network. Validators, please participate in finding consensus on the relevant data.”

Amid the outage, Solana Status shared instructions on how validators could participate in the restart. “Mainnet Beta Validators: Please follow the cluster restart instructions,” Solana Status stressed. Around 3 a.m. (ET) Solana Status detailed that the cluster restart has been deployed. “Validator operators successfully completed a cluster restart of Mainnet Beta at 7 AM UTC,” Solana Status wrote. The team added:

Network operators and dapps will continue to restore client services over the next several hours. Open / Comment

2022-09-30 13:00:06 ​Gemini wants to boost GUSD stablecoin volume in MakerDAO

Gemini has submitted a proposal on the MakerDAO forum to boost the adoption of the Gemini dollar (GUSD) stablecoin in the latter’s ecosystem by paying a fixed yield on the GUSD balance in MakerDAO’s vaults.

Gemini co-founder Tyler Winklevoss submitted the proposal on Thursday, detailing a three-month marketing incentive plan.

The proposal seeks to grow the volume of the GUSD balance in the MakerDAO PSM, which is currently at about $24 million based on this Dune Analytics dashboard. PSM refers to the peg stability module that allows users to mint DAI by swapping any MakerDAO-accepted collateral. The PSM is also useful for maintaining DAI’s peg to the U.S. dollar.

As part of the scheme, the proposal states that Gemini will pay a fixed annual interest of 1.25% on the total GUSD in the PSM vault. The annualized fixed rate will be evaluated and paid on a monthly basis. A condition of the payment is that the average GUSD balance in the vault is more than $100 million on the last day of the month. The GUSD volume in the vault rising to $100 million means that users are depositing GUSD to mint DAI.

The proposal stated that Gemini will credit MakerDAO in GUSD once every month for a three-month period. This incentive will require Maker to create a new entity that will be issued an account with Gemini to receive the payments. The Maker entity will also have to go through know-your-customer verification processes. MakerDAO’s governance can also choose to move the funds from this entity to its treasury. Open / Comment

2022-09-28 13:28:03 ​​Ethereum PoW token fell by more than 20% in one day

The price of the Ethereum PoW (ETHW) hardforward token fell by more than 20% overnight. It fell from $12.19 to $9.66, according to Coingecko. As of Sept. 26 at 4 p.m., the token is trading at $9.8, the cryptocurrency has a market capitalization of about $1.4 billion and a daily trading volume of $237 million.

Since September 15, when Ethereum's core network switched to the PoS protocol and the blockchain's PoW hardfork was launched, the coin's price has dropped from $29 to $4.31 within 5 days. Last weekend, the token showed growth and reached the mark of $13.58, after which it began to decline again.

The new decline occurred despite the fact that one of the largest trading platforms KuCoin announced the listing of the token and the start of trading in pairs to USDT. In a separate announcement, the platform announced that the ETHW/USDT pair had been added to the platform's trading bot. Open / Comment

2022-09-26 19:41:12 ​While the US Dollar Tramples the Euro, Pound and Yen, Russia’s Ruble Skyrockets Against the Greenback

While the U.S. dollar has soared in value against a basket of worldwide fiat currencies, Russia’s ruble climbed 4.5% against the greenback this week. During the first week of September, Russia told the press China would pay for natural gas with rubles and yuan. Moreover, Switzerland’s imports of Russian gold reached a high not seen since April 2020.

This week the U.S. Dollar Currency Index (DXY) skyrocketed to new heights leaving a great number of fiat currencies worldwide badly bruised. For instance, two days ago, the European Union’s euro tapped a 20-year low against the U.S. dollar dropping to $0.973 on Friday.

Presently, the euro is even lower at $0.9690, and it is down 2.82% against the greenback during the past 30 days. 30-day statistics indicate the yen is down 4.72%, the sterling pound shed 8.17%, and the Canadian dollar lost 4.78%. The Chinese yuan breached a 7:1 exchange rate against the U.S. dollar for the first time in two years.

However, Russia’s native fiat currency the ruble has been more resilient this year, and it started to see gains a month after the start of the Ukraine-Russia war. Toward the end of June, Russia’s ruble tapped a seven-year high against the U.S. dollar, and at the time economists said “don’t ignore the [ruble’s] exchange rate.” Open / Comment

2022-09-24 18:20:25 AMAZING NEWS

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Deposit: 09.28.2022 1 PM (UTC)
Listing Date: 09.30.2022 10.00 AM (UTC)
Withdrawal: 10.01.2022 1 PM (UTC)

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