Day: January 3, 2023

Declining Interest Leads to Poor Market Performance for Ethereum Proof-of-Work Forks – Market Updates Bitcoin News

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After transitioning from proof-of-work (PoW) to proof-of-stake (PoS), the Ethereum community saw the launch of two new PoW Ethereum forks: ethereumpow and ethereumfair. In the past four months, the value of both coins has dropped by 94.8% to 98.4% in U.S. dollars. PoW Ethereum Forks Ethereumpow and Ethereumfair Suffer Significant Value Loss After Launch Since their launch in September 2022, the two newly introduced Ethereum forks that use a proof-of-work (PoW) consensus algorithm have seen significant value loss. Ethereum itself made the transition from PoW to proof-of-stake (PoS) on Sept.…

Crypto Exchange Upbit Strikes Deal with Italian Football Club Napoli

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Upbit, a South Korea-based cryptocurrency exchange, has signed a back-of-shirt partnership agreement with Italian football club SSC Napoli. The deal will remain active until the end of the 2023/24 season of the Series A and Coppa Italia football contests. Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! Speaking on the deal, Tommaso Bianchini, Napoli’s Chief International Development Officer noted that the partnership is evidence of the club’s positive inclination towards the…

Previewing FTX Founder Sam Bankman-Fried’s Not Guilty Plea in Court

To recap: Sam Bankman-Fried was arrested last month in the Bahamas at the behest of U.S. authorities, who later revealed they had indicted the FTX founder and former CEO on eight different charges: conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to defraud the U.S. and violate campaign finance laws. Source

The Next Web3 Community Building Innovation of 2023: BULLZ Challenges

Place/Date: Singapore – January 3rd, 2023 at 5:52 pm UTC · 3 min read Source: WOM Protocol Pte. Ltd. While airdrops have long been one of the most popular marketing methods for web3 projects to incentivize early adopters, WOM Protocol has announced a new airdropping tool, BULLZ Challenges to airdrop tokens as rewards for actual community participation. The BULLZ Challenge Launchpad states to “make airdrops fun”, by enabling web3 projects and creators to airdrop NFTs or tokens to their communities in return for any defined actions, called a “Challenge”. With…

Bitcoin miners see mixed successes in tackling debt-fueled overexpansion crisis

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According to a recent report by Hash Rate Index, publicly-listed Bitcoin (BTC) miners took on more than $4 billion worth of debt during the run-up to the crypto bull market. Mesmerized by rising prices, industry rushed hand over fist to purchase Bitcoin application-specific integrated circuits miners on easy credit.  However, in today’s context of Bitcoin price collapse, skyrocketing electricity prices, lower market prices for mining rigs, and record-level mining difficulty, 2022 became an extremely difficult year for sector players. That said, some are holding on better than others. Top 10…

Bitcoin Mining Difficulty Sees Sharp 3.59% Drop

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The bitcoin mining difficulty had adjusted upward for the majority of 2022, recording its highest correction in the same year. However, 2023 kicked off with a downtrend as the mining difficulty has begun to drop. A sharp drop in this metric recorded in the early hours of Tuesday could be the start of a trend reversal in this regard. Bitcoin Mining Difficulty Plunges The bitcoin mining difficulty declined suddenly on Tuesday morning during Asia hours. Data from CoinWarz shows that it had fallen almost 3.6% in a sharp downward correction.…

SOL Surges 8%, as ATOM Nears 1-Month High – Market Updates Bitcoin News

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Solana was up by almost 8% on Tuesday, as the token rose for a fifth consecutive session. Recent moves have come despite the Christmas and New Year period, where market volumes were somewhat muted. Cosmos was also in the green, as prices rose to a multi-week high. Solana (SOL) Solana (SOL) was one of the notable gainers on Tuesday, as the token climbed by as much as 8% in the day. Following a low of $11.05 on Monday, SOL/USD surged to an intraday peak of $12.02 during today’s session. The…

Sam Bankman-Fried’s legal team warns of ‘harassment and threats’ to parents in latest court filing

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The legal team behind former FTX chief executive officer Sam Bankman-Fried has petitioned a court to redact certain information on individuals acting as sureties for his $250-million bond, citing threats made against his family. In a letter dated Jan. 3 filed to Judge Lewis Kaplan for the United States District Court in the Southern District of New York, Bankman-Fried’s legal team requested the court order “names and other identifying information” of two bail sureties not be disclosed to the public and redacted from bonds once they were signed on Jan. 5.…