Day: December 2, 2022

New Cardano algorithmic stablecoin evokes old fears for the community

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With the new announcement that Cardano is on its way to release an algorithmic stablecoin in 2023, various community members expressed concerns, comparing the project to Terra USD (UST), which caused great losses within the crypto space in 2022.  According to its developers, the stablecoin project Djed will be pegged to the U.S. dollar and backed by Cardano (ADA). Apart from this, it will be using another token as its reserve coin. The project highlighted that it will be overcollateralized and will have on-chain proof-of-reserves. Despite the assurances given by…

Ethereum Price Predictions 2023: Coinspeaker Advent Calendar

The predictions on the potential growth trend that Ethereum will chart for itself in 2023 will be closely linked with that of Bitcoin. Dear Readers, Ethereum (ETH) is the digital currency that will be featured in our price projections for 2023 today as we look ahead to what the coming year will herald for all stakeholders within the crypto network’s ecosystem. Ethereum sits comfortably as the second largest cryptocurrency after Bitcoin (BTC) and it has a market capitalization of $156.6 billion per data from CoinMarketCap. The Ethereum blockchain is regarded…

Crypto Billionaire Mike Novogratz Wants FTX Founder to Be Jailed

Mike Novogratz said that the FTX founder was “delusional” about his culpability in the crypto exchange’s collapse. He further added that crypto firms should never lend out customers’ funds without taking their permission. Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX, has been making public appearances and giving interviews. But crypto billionaire Mike Novogratz, also the founder of Galaxy Digital, strongly believes that the FTX founder should be in jail. Novogratz’s comments came during his recent interview with CNBC on Thursday, December 1, wherein he called the FTX…

Crypto miners in Russia capitalize on the bear market by hoarding ASIC devices

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Cryptocurrency miners in Russia appear to be unbothered by the ongoing crisis of crypto mining as the local demand for mining hardware has reportedly been on the surge in Q4 2022. Some crypto mining hardware distributors in Russia have faced a significant spike in demand for mining-designed application-specific integrated circuit (ASIC) chips, the local news agency Kommersant reported on Dec. 1. Local dealer Chilkoot reported its ASIC sales in November and October exceeded its entire sales made in Q3. Over the past nine months, the distributor reportedly sold 65% more…

Salesforce (CRM) Stock Slumps 8% as Company Announces Exit of co-CEO Bret Taylor

The highlight of the earnings call was the surprise announcement of the departure of Salesforce co-CEO Bret Taylor. Software company Salesforce Inc (NYSE: CRM) saw its shares close down 8% following news on the co-CEO departure and its earnings report for the third quarter of fiscal 2023. In addition to the decline, the company is currently down 0.51% to $146.25 in after-hours trading. Per the earnings report, the cloud-based software company exceeded expectations, with $7.84 billion in revenue. Meanwhile, analysts predicted revenue to come in at $7.82 billion. Earnings per share (EPS) also…

Firefox dev Mozilla goes all-in on metaverse, acquires Active Replica

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The web developer Mozilla, mainly known for its internet browser Firefox, has joined the rush of legacy internet platforms jumping into the Web3 and metaverse development space. In a blog post announcement on Nov. 30, the company revealed its acquisition of Active Replica, an immersive experience developer. Active Replica is joining Mozilla’s Hubs creator platform to help create virtual events. Already the virtual experience developer has worked with Mozilla during its multi-day arts and tech festival Mozfest earlier this year. According to Mozilla the acquisition will also be important to…

Bitcoin Price Could Drop to $10K in 2023, Veteran Investor Mark Mobius Forecasts

Bitcoin prices exchanged around $16,900 during the Asian trading session, up approximately 2.4 percent in the past seven days. After a decline of over 60 percent in 2022, Bitcoin price could crash beyond the current levels to $10k in 2023, according to co-founder of Mobius Capital Partners Mark Mobius. While speaking in an interview with CNBC, Mobius said that Bitcoin price is not far from $10k after breaking the major support level between $17k and $18k. Notably, Mobius predicted the Bitcoin crash toward $20k earlier this year when the instrument…

Animoca Brands Plans $2 Billion Metaverse Fund to Support Established Projects – Metaverse Bitcoin News

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Animoca Brands, the parent company of metaverse projects like The Sandbox, has announced it plans to launch a $2 billion metaverse fund. The new fund, which would be focused on returns for potential investors wanting to get more Web3-related capital exposure, will focus its activities on companies in the mid-to-late investment stages. Animoca Brands Plans Animoca Capital Fund Launch Animoca Brands, one of the most recognized metaverse and NFT companies in the ecosystem, has announced plans to launch its own metaverse fund. According to statements made by co-founder Yat Siu…