Day: December 12, 2022

Solana Price Sees Downside, New Low On The Horizon?

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The Solana price slid more than 3% over the last 24 hours and landed in the red. The price of the asset has been consolidating over the past few weeks. SOL has been struggling to get past its immediate resistance mark, which is further fueling the coin’s downslide. In the last week, the altcoin depreciated by over 4%. The bulls tired out the moment Solana attempted to breach the $14 price mark. The technical outlook suggests that sellers have taken over the price action in the market. After a brief…

Argo Blockchain reports insufficient funds, ‘no assurance’ it can avoid Chapter 11 bankruptcy

Crypto mining firm Argo Blockchain has reported it had been negotiating to sell assets and “engage in an equipment financing transaction” in an effort to avoid filing for bankruptcy. In a Dec. 12 announcement, Argo Blockchain said it was at risk of having insufficient funds to continue operating within a month, and was in the middle of “advanced negotiations” to sell certain assets. Though the mining firm said it had not filed for Chapter 11 bankruptcy in the United States, “inadvertently published materials” related to the company’s financial situation led…

Alameda’s Caroline Ellison Retains SEC’s Former Enforcement Division Chief – Bitcoin News

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After more attention has been cast on the former Alameda Research CEO Caroline Ellison, a report details that Ellison has hired Wilmerhale partner Stephanie Avakian, an attorney that worked for the U.S. Securities and Exchange Commission (SEC). The news follows leaked documentation of Ellison’s alleged margin position, and the ex-Alameda executive reportedly being spotted at a cafe in Soho. Ex-Alameda Research Exec Is Reportedly Being Represented by Former SEC Official Just recently, the FTX co-founder and former CEO, Sam Bankman-Fried (SBF), said that he was “willing to testify” on Dec.…

Pantera’s Paul Veradittakit’s Crypto Growth Predictions for 2023: DeFi, ZK Tech, NFTs, More – Crypto 2023

However, the year definitely did see expansion in utility, gaming, and music NFTs, as well as creative new applications for utility NFTs, such as soulbound tokens, token-gated communities and events, and co-ownership mechanisms. In addition, 2022 saw the launch of Sudoswap, a novel and permissionless NFT exchange for trading NFTs via an AMM design. The royalty-free platform saw more than 7,000 transactions in one day at its peak in August, representing over $3 million. Uniswap also recently introduced NFTs on their platform with an aggregator that supports OpenSea, Sudoswap, and…

Web3 and its Role in Network State Governance – Crypto 2023

It’s tough to tell what’s legitimate and what’s vaporware. (A common problem in crypto.) And these 26 projects, of course, are not the world’s first “startup societies,” and the lure of a new utopia did not begin with Web3. In 1804, a religious zealot named George Rapp convinced 600 believers to start a new, independent, God-fearing society in Pennsylvania. In the 1830s, the religious “Shakers” – which practiced both celibacy and ecstatic (shaking) dancing – formed 18 bubble communities scattered throughout the United States. Then 30,000 Mormons, in the 1840s,…

SBF misses the Senate hearing but promises to testify to the House: Law Decoded

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Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation. So, Sam Bankman-Fried, public enemy number one, won’t appear in front of Senators on Dec. 14, as he missed the deadline for responding to a Senate Banking Committee request. However, we could witness the entrepreneur appear before Congress even a day earlier, on Dec. 13. Replying to a thread of tweets from Representative Maxine Waters, Chairwoman of the Financial Services Committee, the former CEO of FTX expressed his willingness to testify at a…

Binance Investigating Abnormal Price Movements on Crypto Exchange, Locks Withdrawals on Some Accounts

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The world’s largest crypto exchange says it is probing certain accounts after noticing abnormal trading behavior on its platform. Binance says it is taking precautionary measures after noticing atypical activity involving the altcoins Sun Token (SUN), Ardor (ARDR), Osmosis (OSMO), FUN Token (FUN) and Golem (GLM). “We are aware of the abnormal price movements for certain trading pairs on Binance, involving assets such as SUN, ARDR, OSMO, FUN and GLM. Our team is investigating and taking appropriate actions in regards to the suspicious accounts.” Binance CEO Changpeng Zhao says the…