Month: July 2022

Crypto Exchange OKX Becomes Training Kit Sponsor of Manchester City

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Crypto exchange, OKX has extended its partnership with Manchester City Football Club, now becoming its official training kit sponsor for the 2022-23 season. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. Announced on Monday, the agreement between the two will put the branding of the crypto exchange on the training kits of both men and women teams of Machester City. Further, players will take part in OKX’s crypto education initiatives. “The real…

Celsius changes legal team, pays off $20M in Aave debts

Crypto lending platform Celsius has reportedly hired lawyers from Kirkland & Ellis LLP to advise on its restructuring options — the same firm that assisted Voyager Digital with its bankruptcy filing last week.  According to a report from the Wall Street Journal on July 10, the company has hired lawyers to advise on options, including a bankruptcy filing in place of the previously hired law firm Akin Gump Strauss Hauer & Feld LLP. Kirkland & Ellis LLP describes itself as an international law firm that serves clients in private equity,…

Terra projects band together in migration to Polygon ecosystem

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More than 48 different crypto projects formerly based on the failed Terra ecosystem have found a resurgence by migrating over to Polygon.  Polygon Studios CEO Ryan Wyatt expressed delight at his network’s ability to onboard many projects to the ecosystem in a July 9 tweet. He hinted that Polygon’s multimillion-dollar Terra Developer Fund has been effective in attracting the talent that was unexpectedly flung into limbo when Terra collapsed in May. UPDATE: Terra projects have begun migration. Over 48 projects and counting… including @OnePlanet_NFT, an exclusive @0xPolygon marketplace, and @DerbyStars_HQ!…

Focus on cryptocurrency intensifying after week of volatility

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The focus on cryptocurrency is intensifying after a week of volatility. Crypto, unlike government-issued dollars, is a decentralized digital currency, so the value can go up or down quickly. CBS2’s Steve Overmyer has the latest on what’s being called a “crypto winter.” ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

CRYPTOCURRENCY NEWS: Latest BITCOIN News, ETHEREUM News, SOLANA News

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io CRYPTOCURRENCY NEWS: Latest BITCOIN News, ETHEREUM News, SOLANA News BTC retrogressive The majority of the parliament rejected a proposal to tax Bitcoin and other cryptocurrencies in the Portuguese parliament. The proposal was tabled by the left-wing parties who had plans to tax crypto to help the country’s economy. The rejection of this bill has fended off the fears of Bitcoin taxation, but it might not last for a long while. The latest data for Bitcoin shows that it has shed 2.25% over…

Volumes surge 205% in Axie revival as co-founder claims project is ‘healing’

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Play-to-earn (P2E) Metaverse game Axie Infinity appears to be on the mend, with its NFT sales volume pumping 205% over the past seven days. The project’s co-founder Jeff Zirlin echoed such sentiments via Twitter on July 8, after he stated that the project was “healing” in reference to the strong adoption of NFT land staking, the Ronin bridge being back up, and a notable uptick of game downloads and NFT sales. 22,000 Axies sold in the last 24 hours. Was at 7,000 a few weeks ago. Origin growing quickly with…

Bitcoin Price Trims Gains, Key Breakdown Support Nearby

Bitcoin trimmed gains and declined below $21,000 against the US Dollar. BTC must stay above $20,500 to avoid a major decline in the near term. Bitcoin failed to stay above the $21,000 support and extended drop. The price is now trading below the $21,500 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $20,520 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another major decline if there is a clear move below…

CoinFLEX to begin arbitration for $84 million recovery and open limited withdrawals

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Crypto investment platform CoinFLEX is moving forward with its plan to reclaim $84 million in funds by starting arbitration procedures in Hong Kong against an individual account holder. Co-Founders Sudhu Arumugam and Mark Lamb acknowledged in their July 9 announcement that the judgment would provide access to the individual’s “worldwide assets” and that their lawyers were “very confident” they could enforce the award. “We have commenced arbitration in HKIAC for the recovery of this $84m as the individual had a legal obligation under the agreement to pay and has refused…

Twitter lawyers up to force through Musk deal. Will it work?

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Social media platform Twitter is reportedly looking to file a lawsuit as early as this week against Telsa CEO Elon Musk after he announced his intention to pull out of the $44 billion deal to acquire the social media giant on July 8.  Bloomberg reported on July 10 that the company has hired corporate law firm Wachtell, Lipton, Rosen & Katz and will bring the case to the Delaware Court of Chancery, a non-jury trial court that deals with corporate law in the state of Delaware. However, it’s unclear whether…