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Day: September 23, 2022
Turn its debt into a new cryptocurrency
Since bankrupt crypto lender Celsius froze withdrawals in June, customers’ funds have been in limbo. Now, leaked audio shared with CNBC reveals a preliminary plan to compensate them. The company wants to issue an “IOU” cryptocurrency to customers that signed up for some of its accounts. The recording was provided by Tiffany Fong, who says she is one of the 500,000 Celsius customers with funds locked in the platform. Fong says she received the audio from a self-identified employee, who stayed anonymous during their communications. CNBC was not able to…
Ravencoin Ethereum Classic Crash 20%
Ravencoin (RVN) and Ethereum Classic (ETC) were operated as a safe haven for miners seeking shelter from “The Merge” fallout. The event that completed Ethereum’s transition to Proof-of-Stake (PoS), “The Merge” locked out miners from the ecosystem. Leading into the event, Ravencoin, Ethereum Classic, and other Proof-of-Work (PoW) cryptocurrencies were recording double-digit gains. The new participants onboarding the networks drove their hashrate to new highs, and their price followed as demand for PoW tokens followed. However, as more miners flocked into these networks, it became more difficult to obtain rewards.…
Cardano (ADA) Price Reacts Poorly To Vasil Hard Fork
The Cardano Vasil hard fork had been expected for months, and finally, it is a reality. The hard fork had proceeded according to schedule, and by Thursday, September 22nd, the hard fork was live on the network. It was received amid much fanfare from the community, but the network’s native token, ADA, had not reacted as well. Cardano Vasil Hard Fork Completed The Cardano Vasil hard fork was targeted toward making the network more efficient than it is already. In turn, this would make it a better platform for developers…
PRIMEZTOKEN Is Now Available for Trading on LBank Exchange – Press release Bitcoin News
press release PRESS RELEASE. INTERNET CITY, DUBAI, Sep. 23, 2022 – LBank Exchange, a global digital asset trading platform, has listed PRIMEZTOKEN on September 23, 2022. For all users of LBank Exchange, the PRIMEZTOKEN/USDT trading pair is now officially available for trading. Aiming to introduce Japan’s world-class contents to Japan and overseas using blockchain technology, Primez provides an NFT marketplace where Japanese contents can be converted into NFTs. Its native token PRIMEZTOKEN has been listed on LBank Exchange at 8:00 UTC on September 23, 2022, to further expand its global…
Is Powell 2022’s Paul Volcker? The Answer Matters to Bitcoin
Whether Bitcoin succeeds will largely hinge on whether people have confidence in the incumbent fiat system to which it poses an alternative and in the central bankers who, since the end of the dollar’s gold peg 1973, have determined the monetary policies behind that system. Source
Crypto gaming sucks — But devs can fix it
What we have today in terms of Web3 gaming is not working. Play-to-earn has not worked and neither will play-to-earn or any X-to/and-earn. On top of that, traditional gamers view nonfungible tokens (NFTs) with suspicion. They dunk on expensive apes and are skeptical of large game publishers applying the lipstick of NFTs for further monetization. Nobody knows what a successful Web3 game will look like yet. To get there, we need more developers to experiment with more models. We need infrastructure that will lower the barriers to Web3 game development…
Why is the crypto market down today?
Crypto prices keep falling, but why? This year’s market crash has turned most winning portfolios into net losers, and new investors are probably losing hope in Bitcoin (BTC). Investors know that cryptocurrencies exhibit higher than average volatility, but this year’s drawdown has been extreme. After hitting a stratospheric all-time high at $69,400, Bitcoin price crumbled over the next 11 months to an unexpected yearly low at $17,600. That’s a nearly 75% drawdown in value. Ether (ETH), the largest altcoin by market capitalization, also saw an 82% correction as its price…
Euro Taps a $0.973 Low Against the US Dollar, Analysts Claim British and EU Currencies Are Trapped in a ‘Doom Loop’ – Economics Bitcoin News
On Friday, the official fiat currency of 19 out of the 27 member states of the European Union (EU), the euro, plunged to a low of $0.9732 against the U.S. dollar. The drop comes at a time when fiat currencies like the yen, yuan, and pound have struggled against the greenback during the past six months. Analysts claim the pound and euro are trapped in a “doom loop” and it’s also been said that the U.S. dollar is “the only possible hedge” against a failing global economy. Citigroup Analysts Say…
Lawyers for Celsius investors file motion to have interests represented in court
An international law firm representing groups of Celsius investors has filed a motion to appoint a committee to represent their interests in the crypto lending firm’s bankruptcy case. In a Thursday filing with the U.S. Bankruptcy Court in the Southern District of New York, lawyers with the law firm Milbank requested the appointment of an “Official Preferred Equity Committee” to represent certain Celsius shareholders. According to the filing, the equity holders “urgently require their own fiduciary” for representation in court alongside Celsius debtors and an Unsecured Creditors Committee, or UCC.…