Day: December 29, 2022

Manchester United and Tezos Foundation Accused of NFT Copyright Infringement

The $3.77 billion valued football club has been expanding its revenue collection avenues since the onset of the coronavirus, which significantly slashed the company’s profits. After debuting its NFT collectibles earlier this month, popular football club Manchester United Ltd Cl A (NYSE: MANU)  and its official blockchain provider Tezos Foundation have been accused of copying monsters’ NFT traits belonging to Lucrece. The 7,777 digital collectibles announced by Manchester United are said to share most of their unique traits with Lucrece’s monster artwork. In response to this, Lucrece announced that he…

US-Listed Chinese Tech Companies No Longer See Hong Kong Listing as Vital Hedge Strategy Following PCAOB Development

As US listing prospects improve, several US-listed Chinese tech players have halted their Hong Kong listing plans.  A number of US-listed Chinese companies have reportedly suspended plans for a potential Hong Kong listing. According to The Information, these Chinese tech companies include agricultural tech giant Pinduoduo Inc (NASDAQ: PDD) and Full Truck Alliance Co (NYSE: YMM). Although Pinduoduo merely paused discussions regarding a potential Hong Kong listing, Full Truck Alliance scrapped its plans altogether. Meanwhile, tech heavyweights such as Alibaba and JD.com have also made significant strides toward a Hong Kong listing over the years.…

Central African Republic Postpones Sango Coin Listing – Africa Bitcoin News

The Central African Republic’s plan to list the sango coin in the last quarter of 2022 has been put on hold, while the scheduled unlocking of 5% of token holders’ portfolios has similarly been postponed, a statement from the team promoting the token has reportedly said. The decision to delay the listing of the coin was prompted by what the team terms “current market conditions.” Scheduled Token Unlocking Postponed Nearly eight months after becoming the first country in Africa to adopt bitcoin, the Central African Republic (CAR) recently said it…

Why ALGO Has Been Stagnant In Last 10 Days And Still At The Mercy Of Bears

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ALGO, an altcoin by the Algorand blockchain with a market cap of $1.18 billion, continues to feel the effects of the intense selling pressure that caused its price to crash last month. After trading within a narrow region from May to November that saw it establish $0.28 as its range low, the cryptocurrency devalued by 34% in December and found itself going all the way down to $0.163 – a marker that ended up being the asset’s current support zone. ALGO, which has not made any significant increase in price…

MicroStrategy to Launch Enterprise Plugins on Lightning Network

Citing the speed of transactions on the Lightning network, Saylor noted the delays associated with using credit cards for such a transaction would not affect the Lightning network. Co-founder and former CEO of MicroStrategy Michael Saylor has revealed the firm’s plans to release enterprise plugins on Lightning Network in 2023. Saylor made this disclosure while speaking at a Twitter Spaces event. At the event, Saylor noted the company was working to introduce cybersecurity, e-commerce, and marketing solutions for enterprise users. The company is hoping to leverage its experience in developing mass-deployable…

Alameda Research Wallets Became Active as Over $1M Worth of Coins Were Liquidated

As the bankruptcy proceedings take shape, chances are that these current withdrawals will be investigated and thanks to on-chain data, the flow of funds can easily be tracked. Alameda Research, the defunct trading firm belonging to the Sam Bankman-Fried, the founder and former Chief Executive Officer of bankrupt cryptocurrency trading platform, FTX Derivatives Exchange came alive a few nights ago as several assets were consolidated and liquidated. According to updates posted by Arkham Intelligence, the wallets belonging to Alameda Research had not been used to post any transaction in over…

Bitcoin Will Outperform All Other Assets In 2023

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In a new report, Capriole Investments has posited that Bitcoin will outperform all other assets in the coming year due to three key reasons. One of those reasons, perhaps unsurprisingly to many, will be the currently all-defining U.S. Federal Reserve (FED). According to the company, the market is currently experiencing the most aggressive monetary policy since the 1980s. The annual rate of change in the M2 money supply is now negative for the first time ever, as shown by analyst Dylan LeClair yesterday. Uh guys, the money printer got jammed.…

China to Launch State-Owned NFT Marketplace

Since the banning of cryptocurrencies in China, the subject of NFTs has fallen under a legal grey area. China has unveiled plans to launch the first state-owned NFT marketplace. The marketplace, whose name translates to “China Digital Asset Trading Platform”, will launch on January 1 at a physical event in Beijing. According to the report, the platform is built on a unique blockchain, the China Cultural Protection Chain. Also, it will be run by China Daily, China Technology Exchange, Art Exhibitions China, and Huban Digital. Using the platform, Chinese NFT…

70% of unregulated exchange transactions are wash trading: NBER study

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With exchanges becoming a focus as the FTX fiasco continues, a new research paper suggested that almost three out of four transactions in unregulated exchanges are fake.  A working paper titled “Crypto Wash Trading” was recently published by the National Bureau of Economic Research (NBER). Using statistical and behavioral patterns to determine which transactions were legitimate or not, the paper studied 29 unregulated exchanges and came to a conclusion that, on average, more than 70% of the volume within the platforms are wash trades. The researchers found that some exchanges’…