Day: October 13, 2022

Voyager Digital’s Creditors Push Back Against Plans to Provide Execs With Legal Immunity

Attorneys for the UCC describe a “Hobson’s choice” for Voyager’s creditors: to either support the sale agreement as-is and have a chance at getting their money back faster while allowing Voyager’s executives to get off scot-free, or to fight the plan and risk the bankruptcy process “devolving into a morass of litigation, to the sole detriment of unsecured creditors, whose assets will continue to remain frozen for a far longer period of time.” Source

Enterprise Crypto Wallet Startup Pine Street Labs Raises $6M in Polychain-Led Round

Pine Street Labs wants to shake up the wallet experience for companies, funds, traders – really any business that needs to store tokens, says CEO Justin Gregorius. A veteran of crypto backoffices, he told CoinDesk that enterprise newcomers find themselves in crypto wallet purgatory: they can’t rely on retail wallets like Ethereum’s MetaMask or Solana’s Phantom, but don’t have the know-how to build 10 wallets in-house. Source

Bitcoin traders were ready for a hot CPI report, but BTC bears are still in control

Cryptocurrency traders were caught by surprise after the Oct. 13 Consumer Price Index Report showed inflation in the United States rising by 0.6% in September versus the previous month. The slightly higher-than-expected number caused Bitcoin (BTC) to face a 4.4% price correction from $19,000 to $18,175 in less than three hours.  The abrupt movement caused $55 million in Bitcoin futures liquidations at derivatives exchanges, the largest amount in three weeks. The $18,200 level was the lowest since Sept. 21 and marks an 8.3% weekly correction. Bitcoin/USD 1-hour price. Source: TradingView…

US Lawmakers Send Inquiry to ERCOT CEO Over Texas Crypto Mining and Its Effects on the So-Called Climate Crisis – Bitcoin News

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A number of Democratic U.S. policymakers have written a letter to the CEO of the Electric Reliability Council of Texas (ERCOT) in order to inquire about the cryptocurrency mining operations in the state. The letter that stems from senator Elizabeth Warren’s office says that the lawmakers are concerned with the so-called climate crisis, and the politicians are seeking information on crypto miners “using substantial amounts of electricity” Elizabeth Warren’s Office Sends Letter to ERCOT’s Chief Executive Over Crypto Mining and Its Effects on Climate Change A handful of U.S. bureaucrats…

EU commissioner McGuiness says privacy, AML may look different from US under MiCA

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Fintech needs to communicate better, according to a top European Commission (EC) financial official. People ask what the need for financial technology is, and the industry has answers, but “we need to talk about this outside ourselves,” Commissioner for Financial Stability, Financial Services and the Capital Markets Union Mairead McGuinness said on Oct. 13.  Appearing at DC Fintech Week, McGuinness shared observations about emerging financial technology from a European perspective and compared the situations in Europe and the United States. Mairead McGuinness, EU Commissioner is live with us at #DCFintechWeek…

Bitcoin Dominance Rises As Market Turns Red, What Does This Mean For Altcoins?

BTC.D rises in price as altcoins suffer a bloody day in crypto.  BTC.D attempts to break out above 8, and 20-day Exponential Moving Averages as altcoins struggle to hold their key support.  The price of BTC.D eyes a rally to 48% as this could mean more pain for altcoins.  Many altcoins have experienced a relief bounce across the market as Bitcoin Dominance (BTC.D) remains below the 40% marked area allowing altcoins to rally when the market recovers. With Bitcoin Dominance (BTC.D) rising from the ashes, we could see the price…

Shiba Inu Adds Another Zero, Is It Time To Jump Ship?

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Shiba Inu has had a hard time holding on to the value that it had garnered in the bull run of 2021. Along the way, there have been utility and use cases being put forward for the digital asset but even that has not helped it retain its value. Now, the meme coin has fallen below an important technical level, triggering sell signals. Shiba Inu Falls Below $0.00001 Over the last couple of months, the price of SHIB had continued to trend above $0.00001. This level had become important over…