Day: November 16, 2022

Newly Elected US House Whip Emmer Downplays FTX Meltdown, Cheers Crypto

Crypto advocates in Washington routinely maintain that crypto policy is a non-partisan issue that can move forward even in a divided Congress. However, this week’s rhetoric from Democrats such as Sen. Sherrod Brown (D-Ohio), the chairman of the Senate Banking Committee, has painted a harsh picture of crypto suspicion. And many Republicans have been defending the industry, arguing to separate the actions of FTX from the crypto technology underpinning the business. Source

Terra Labs, Luna Guard commission audit to defend against allegations of misusing funds

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The Luna Foundation Guard (LFG) and Terraform Labs (TFL) commissioned a technical audit of their efforts to defend the price of TerraUSD (UST) — since rebranded TerraUSD Classic (USTC) — between May 8 and 12. The audit was intended to answer “allegations posed in social media” about the fate of funds transferred during efforts to defend the UST dollar peg, according to the LFG blog. The audit found that LFG spent 80,081 Bitcoin (BTC) and $49.8 million in stablecoins (about $2.8 billion at the time) to defend the UST peg. That…

The FTX Collapse Looks an Awful Lot Like Enron

So Enron created Chewco to bid on the CalPERS position. Chewco was nominally independent, but was in fact funded, owned and run by Enron and its executives, and ultimately backed by the value of Enron’s own stock through a secretly guaranteed bank loan. Chewco bought out CalPERS at an inflated, and fundamentally fraudulent, price. Source

Ethereum price weakens near key support, but traders are afraid to open short positions

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Ether (ETH) has been stuck between $1,170 to $1,350 from Nov. 10 to Nov. 15, which represents a relatively tight 15% range. During this time, investors are continuing to digest the negative impact of the Nov. 11 Chapter 11 bankruptcy filing of FTX exchange.  Meanwhile, Ether’s total market volume was 57% higher than the previous week, at $4.04 billion per day. This data is even more relevant considering the collapse of Alameda Research, the arbitrage and market-making firm controlled by FTX’s founder Sam Bankman-Fried. On a monthly basis, Ether’s current…

My Crypto Mining Solar Build | FULL GUIDE

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Today we Build a DIY Solar Panel System for Crypto Mining! This was my first attempt at building solar panel system in general and it is actually working fantastic for Crypto Mining. I was extremely unsure about this idea and slightly nervous on how to wire this all together. This ended up being much easier than I expected and it turned out Fantastic. I cannot wait to see how much money I will save on electricity Crypto mining like this; Enjoy! CHECK…

Tom Brady, Gisele Bündchen, Kevin O’Leary, and 9 Other Celebrities Named in FTX-Related Class-Action Lawsuit – Bitcoin News

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Former FTX CEO Sam Bankman-Fried (SBF) and a number of celebrities including Tom Brady, Gisele Bündchen, Stephen Curry, and Shaquille O’Neal have been named in a class-action lawsuit involving the alleged engagement in deceptive practices with FTX. The lawsuit was filed by the attorneys Adam Moskowitz and David Boies late Tuesday, and the suit alleges that SBF and the exchange’s associated celebrities promoted unregistered securities. Class Action Lawsuit Accuses SBF and 12 Celebrities of Pumping a ‘Ponzi Scheme,’ Claims $11 Billion in Damages Suffered Sam Bankman-Fried, otherwise known as SBF,…

SHIB, XRP Show Strength As Crypto Market Begins Recovery

Shiba Inu (SHIB) and XRP have shown strength in the present recovery in the market. The crypto market decline had been triggered by the FTX collapse, and even now, the negative effects are still being felt all across the space. However, it has also been a time for digital assets in the space to show their resilience. Currently, in the middle of the week, there is already recovery going on and these two digital assets have shown the most promise. XRP Moves Into The Green Like the rest of the…

A new space race to colonize the moon has begun; Moon mining could be next – Daniel Sax

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Daniel Sax, CEO of the Canadian Space Mining Corporation (CSMC), discusses his plans to extract moon dust and support colonies in space. He spoke with Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, at the PDAC 2022 Convention in Toronto. Follow Michelle Makori on Twitter: @MichelleMakori ( Follow Kitco News on Twitter: @KitcoNewsNOW ( Follow Daniel Sax on Twitter: @dansax ( 0:00 – Space mining 1:32 – The moon and the Artemis accords 4:36 – Mining hydrogen and oxygen 7:40 –…