Day: October 4, 2022

Japan to Invest in Metaverse and NFT Expansion

The country has steadily been promoting investment in digital technology, including through tax incentives for companies that embrace a digital future. In his speech to Japan’s parliament, Kishida said the country will continue to focus on “supporting the social implementation of digital technology” and will “promote efforts to expand the use of Web3 services that utilize the metaverse and NFTs.” Source

Etherscan Set to ‘Deprecate’ Ethereum’s Ropsten and Rinkeby Testnets

“Sepolia and Goerli are considered the two testnets the ecosystem plans to support,” said Parithosh Jayanthi, a DevOps Engineer at the Ethereum Foundation, to CryptoX. “Goerli has a relatively large dapp (decentralized applications) ecosystem and allows users to join the validator set in order to test their staking setups. Sepolia is a relatively new testnet and has a small state size, making it easy to use for experimentation,” Jayanthi added. Source DeprecateEthereumsEtherscanRinkebyRopstenSetTestNets CryptoX Portal

CFTC can issue summons through Ooki DAO’s help chat box, says judge

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The United States Commodities Futures Trading Commission can serve members of the Ooki decentralized autonomous organization, or DAO, with summons through online communications, according to a federal judge. In an Oct. 3 order granting a CFTC motion, U.S. District Judge William Orrick said the commission could provide a copy of its summons and complaint through Ooki DAO’s help chat box as well as a notice on its online forum. The judge said the court’s decision was based on the CFTC effectively serving the Ooki DAO by providing the necessary documents.…

What Does Puell Multiple Say About Current Bitcoin Bear?

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Puell multiple is an indicator that has historically given hints about previous Bitcoin cycles, here’s what it says about the current bear market. Bitcoin Puell Multiple Has Been Going Up During The Last Couple Of Months According to the latest weekly report from Glassnode, miners are currently raking in just 63% of the revenues of last year. The “puell multiple” is a metric that measures the ratio between the current Bitcoin miner revenues, and the 365-day moving average of the same. What this indicator tell us is how the miner…

Can Increased Odds of a Recession Cause Crypto to Rise? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK).  After a painful week for the stock market in the U.S., the S&P 500 had its best day since July, growing by 2.59%. S&P 500 futures are also up over 1.8%. This has led Bitcoin to rise over 4% overnight. This rise in the stock market was a result of weak manufacturing data that came in yesterday. The U.S. September manufacturing ISM was weaker than the expected 52 and dropped by 1.9pts to 50.9. Furthermore, employment & new orders fell…

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With Crypto Governance in CFTC Crosshairs, SushiSwap Exchange Mulls Legal Shakeup

The robust participation in Sushi DAO votes is, however, a stronger claim to decentralization than Ooki has ever seen, Nansen data shows. Over 1,800 individual wallets have voted in Sushi DAO in the past six months, compared to a mere nine in Ooki over the same period. That said, Sushi DAO’s clout pools around token heavyweights; crypto hedge fund Arca accounted for 29% of a July vote on collecting arbitrage profits, per Nansen. Source

Bankrupt Crypto Lender Celsius’ Asset Sale Is Scheduled, Sources Say FTX CEO May Bid – Bitcoin News

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According to a filing published by the U.S. Bankruptcy Court for the Southern District of New York, the crypto lending firm Celsius has been given a final bid deadline of October 17, 2022. Following the bankruptcy court’s final bid deadline, a sale hearing is scheduled for November 1. A report published last week noted that Sam Bankman-Fried, the CEO and co-founder of FTX, is eyeing Celsius’ assets after winning a bid for Voyager Digital’s assets last month. Celsius Bankruptcy Sale Hearing Has Been Finalized — Myriad Interested Parties Expected to…