Day: January 2, 2023

Billion-Dollar Hedge Fund Bets Vs. Bitcoin And Grayscale

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The pressure continues to mount on Grayscale with its Bitcoin Trust (GBTC) and parent company Digital Currency Group. And as Ram Ahluwalia, CEO and co-founder of crypto-native investment advisor Lumida, pointed out in a recent thread, two new characters, Valkyrie Investments and Fir Tree have entered the “Shakespearean drama.” The motivation of the second, in particular, is very dubious. Fir Tree is a hedge fund with about $3 billion in assets under management (AUM) and hundreds of holdings. The SEC 13F filings show that Fir Tree holds First Citizen’s Bank,…

EDrive Token: The Next Revolution for Automotive Technology and How Its Ecosystem Will Benefit the Community

Place/Date: Brentford, United Kingdom – January 2nd, 2023 at 11:49 am UTC · 3 min read Contact: EDrive Token, Source: EDrive Token Photo: EDriveToken / Facebook EDrive Token aims to bring innovation to the automotive industry through blockchain technology. EDrive Token has been keen on developing a unique ecosystem designed and governed through Smart Contracts and non-fungible tokens (NFTs).Built on Binance Smart Chain, it will be decentralised, transparent, public, and open to contributions, activities, and initiatives proposed by and for the community of EDrive Token. The project’s main areas of…

Avalanche Exits 2022 With 10% Decline

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Avalanche recorded a number of significant developments, which was encouraging for AVAX since it enhanced the network’s value. Before 2022 came to a close, the network revealed that it had partnered with Dua.com, a SocialFi that had picked Avalanche to develop its “Fi.” The Avalanche ecosystem also grew in the run-up to 2023, as its total number of trade counts and amount of NFT trades in US dollars increased. AVAX engineers also announced the release of Banff 5, the final version of its AvalancheGo software, on December 22. According to…

NFT’s: 2022 Year Recap | CCG

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If the year 2021 was when NFTs first entered the public consciousness, the Year 2022 was when new NFT projects and applications emerged. These new ideas and experiments saw numerous successes and failures, ranging from the proliferation of new profile picture (PFP) collections to exploratory forays in fashion, music, entertainment, gaming, and metaverse experiences. Building global media brands, creating exclusive content, intellectual property, music, movies, television shows, live events and activations, virtual experiences, gaming titles, limited-edition merchandise, and more are among the top NFT projects. NFTs, in keeping with the…

Dogecoin Foundation announces new fund for core developers

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The Dogecoin Foundation announced a new fund for Dogecoin Core developers to promote the Dogecoin ecosystem further in the new year.  On Dec. 31, the foundation stated that it is allocating 5 million Dogecoin (DOGE), which is around $360,000 at the time of writing, to the new fund to support the development of the Dogecoin platform. According to the Dogecoin foundation, the fund will be held in a new multisignature wallet managed by its members and needs three out of five signatures from Dogecoin Core developers chromatic, Marshall Hayner, Michi…

Sam Bankman-Fried’s Alameda Research troubles predate FTX: Report

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New reports into Sam Bankman-Fried and his collapsed exchanges revealed that Alameda Research, the now-bankrupt crypto trading firm, almost collapsed in 2018, even before FTX was in the picture. A report published in The Wall Street Journal citing former employees revealed that Alameda incurred heavy losses from its trading algorithm. The algorithm was designed to make a large number of automated and fast trades. However, the firm was losing money by guessing the wrong way about price movements. In 2018, Alameda lost nearly two-thirds of its assets due to the…

Crypto Market Outlook – Ethereum (ETH) and Orbeon Protocol (ORBN) Ready to Thrive

Place/Date: – January 2nd, 2023 at 10:00 am UTC · 3 min read Source: Orbeon Protocol As the cryptocurrency market continues to expand, predictions and forecasts become more important than ever. We’ve seen this trend in many cryptos, most notably with Ethereum (ETH) and Orbeon Protocol (ORBN), two tokens which have seen a significant boost in its price. Having grown drastically in the face of a pervasive bear market, both tokens are seeing renewed attention, with Ethereum (ETH) developments continuing while Orbeon Protocol (ORBN) rises 805% in presale. Ahead, we…

Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law – Taxes Bitcoin News

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The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives for taxpayers to declare their cryptocurrency holdings, proposing a 3.5% aliquot for undeclared cryptocurrencies held before Dec. 31, 2021, and a 0.5% fine for each additional year. Italian Parliament Passes Capital Gains Tax for Crypto The Italian parliament greenlighted a new tax for cryptocurrency on Dec. 29, as part of its budget law for the year 2023. Senators approved the…

US will see new ‘inflation spike’ — 5 things to know in Bitcoin this week

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Bitcoin (BTC) begins the first week of 2023 in an uninspiring place as volatility stays away — along with traders. After failing to budge throughout the Christmas and new year break, BTC price action remains locked in a narrow range. Having sealed yearly losses of nearly 65% in 2022, Bitcoin has arguably seen a classic bear market year, but for the time being, few are actively predicting a recovery. The situation is complex for the average hodler, who is watching for macro triggers courtesy of the United States Federal Reserve…