Day: January 13, 2023

Polygon Prepares for PoS Chain Hard Fork to Boost Performance, MATIC Price Up 3%

The Polygon ecosystem has grown exponentially in the past year with over 207 million unique addresses, and more than 2.3 billion processed transactions. Polygon (MATIC) network, an Ethereum scaling solution, has announced a hard fork scheduled for January 17 to reduce the severity of gas spikes and address chain reorganizations (reorgs) in an effort to reduce time to finality. Polygon Hard Fork The Polygon community gave the hard fork proposal in a forum discussion following updates provided by the governance team. At the top of the discussion forum, the Polygon…

El Salvador Chivo Wallet Programmer Opens Up About Alleged ID Fraud, Tech and Money Laundering Issues – Exchanges Bitcoin News

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A Chivo wallet programmer has opened up about the different problems that the flagship cryptocurrency wallet of El Salvador faced during its initial stages. Shaun Overton, who alleges he was hired to help in the handling of the issues, has talked about ID theft, money laundering problems, and the tech issues he observed while working with the Chivo team. Chivo Wallet Problems Deconstructed Shaun Overton, a developer that supposedly was part of the team for Chivo Wallet, has talked about the different problems that the flagship cryptocurrency wallet, created by…

SEC Charges Genesis and Gemini for Offering and Selling Unregistered Securities

The SEC also revealed that Genesis and Gemini generated assets worth hundreds of dollars from hundreds of thousands of investors. On the 12th of January, the US Securities and Exchange Commission (SEC) charged crypto exchange Gemini and crypto lending firm Genesis Global Capital with offering and selling unregistered securities. Both companies entered a deal in December 2020 to provide customers of the exchange company with a yield-bearing crypto product. After they reached an agreement, the product tagged Gemini Earn, which touted up to 8% yields for customers, was launched in…

BONK Tumbles 66% – Can The ‘Dogecoin Killer’ Live Up To Its Name?

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The previous 24 hours have been impressive for the cryptocurrency market, which is seeing a broad-based rebound on numerous fronts. Despite this development, as evidenced by a combined crypto market valuation increase of 3.4% to $880 billion as of Thursday, Solana’s newly minted canine-centered memecoin BONK has experienced a huge price decline relative to its competitors. As of writing, BONK is trading at $0.000000968754, and down a whopping 66% in the last seven days, data by Coingecko show. In the last 24 hours alone, BONK has lost 1.6% of its value. Chart:…

Crypto.com Undergoes Mass Layoffs Again

The company hasn’t commented on what roles were largely requested to leave in the latest round of layoffs. As the crypto winter continues to show its effects on blockchain-related companies and exchanges, another big news of mass layoffs in the industry is doing rounds. Popular cryptocurrency exchange Crypto.com has slashed its workforce by twenty percent due to present economic hardships and unforeseeable industry events. This is, however, not the first time the Singapore-based company has fired its employees in large numbers. Crypto.com, sometime during the last year, asked 250 people…

Hodlnaut Creditors Seek Liquidation, Reject Restructuring Plan: Bloomberg

The proposed restructuring plan would have allowed Hodlnaut directors who were at the helm during its collapse to continue managing the company. Liquidation would “maximize the company’s remaining assets available for distribution,” one of the creditors, Algorand Foundation, wrote in the filing. Source BloombergCreditorsHodlnautLiquidationPlanRejectRestructuringSeek CryptoX Portal

Stellar (XLM) Poised To Rally Due To Ukraine’s E-Money Pilot

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The Stellar (XLM) price remains in a long-term downtrend. After seeing an all-time high of nearly $0.81 on May 10, 2021, XLM’s price has fallen massively. Currently, XLM is 90.6% down from its ATH. Since October 2021, Stellar has also been in a descending trend channel. At press time, XLM was trading at $0.0822. Thus, the price is showing initial signs of strength and could make a first attempt to break through the upper line of the trend channel at $0.10. What would probably be needed is a clear move…