Day: January 14, 2023

Cointelegraph heads to Davos for World Economic Forum

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As the World Economic Forum brings global leaders together to tackle global issues, a number of cryptocurrency and blockchain events will create a vibrant sideshow in the snowy ski destination in the Swiss Alps. Cointelegraph will be on the ground to cover the World Economic Forum (WEF) as well as a host of blockchain-focused events taking place. Key members from global governments, businesses and civil society converge on the town annually for the WEF conference, but cryptocurrency and blockchain events are beginning to make their mark during the exclusive event.…

Bitmex Co-Founder Criticizes Former FTX CEO for Not Liquidating Hedge Fund Alameda โ€“ Bitcoin News

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The Bitmex co-founder, Arthur Hayes, criticized Sam Bankman-Fried, the disgraced FTX co-founder, on Friday after Bankman-Fried published his first blog post on his new Substack newsletter. โ€œAll this talk about what Alameda did is misdirection,โ€ Hayes insisted. โ€œIt doesnโ€™t matter how they hedged or didnโ€™t hedge, or what dogsh** was in their portfolio.โ€ Bitmex Co-Founder Accuses Former FTX CEO of Avoiding Transparency Arthur Hayes, co-founder of the cryptocurrency derivatives platform Bitmex, criticized Sam Bankman-Fried, former CEO of FTX, following a recent blog post. In the blog post, Bankman-Fried said โ€œAlameda…

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Gemini and Genesisโ€™ legal troubles stand to shake up industry further

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With investor confidence seemingly at an all-time low thanks to the recent slew of insolvencies, a new saga seems to be now unfolding in real time. This one involves crypto exchange Geminiโ€™s Winklevoss twins and Barry Silbert, CEO of Digital Currency Group (DCG) โ€” the parent firm behind crypto market maker and lender Genesis. On Jan. 2, Cameron Winklevoss posted an open letter to Barry Silbert reminding him of the fact that it had been โ€œ47 days since Genesis halted withdrawalsโ€ while also providing a blunt, seemingly confrontational assessment of…

App-specific blockchains remain a promising solution for scalability

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App-specific blockchains, or appchains, are specifically designed to support the creation and deployment of decentralized applications (DApps). In an appchain, each app runs on its separate blockchain, linked to the main chain. This allows for greater scalability and flexibility, as each app can be customized and optimized for its specific use case. Appchains are also an alternative solution for scalability to modular blockchains or layer-2 protocols. Appchains present similar characteristics to modular blockchains, as it is a type of blockchain architecture that separates the data, transaction processing and consensus processing…

Can Canada stay a crypto mining hub after Manitobaโ€™s moratorium?

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Canada has remained a peculiar regulatory alternative to the neighboring United States in regard to cryptocurrency. While its licensing process has become more stringent than in some countries, Canada was the first to approve direct crypto exchange-traded funds. State pension funds have invested in digital assets, and crypto mining firms have moved to the country to take advantage of the cool temperatures and cheap energy prices. But the gold rush for miners in Canada may be slowing down. In early December, the province of Manitoba โ€” rich in hydroelectric resources…

DOJ Objects to FTXโ€™s Choice of Lawyers, Citing Conflict of Interest

โ€œS&Cโ€™s disclosures as filed are wholly insufficient to evaluate whether S&C satisfies the Bankruptcy Codeโ€™s conflict-free and disinterestedness standards,โ€ said Trustee Andrew Vara, a Department of Justice official responsible for bankruptcy cases. โ€œThe incomplete disclosures are a sufficient and independent reason to deny the application.โ€ Source

Only 43.5 Million Own The Crypto Globally, Study Shows

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Out of 8 billion people living on the planet, only 43 million people own Bitcoin โ€” which amounts to less than 1% of the population. Despite the success of the cryptocurrency, a minuscule number of the worldโ€™s current inhabitants holds ownership of Bitcoin, according to CoinMarketCap. Are there specific reasons why this is happening? Or is there something going on in the world of cryptocurrency that contributes to this current trend? Confusion Over โ€˜Ownershipโ€™ And โ€˜Creationโ€™ Before anyone can have access to any form of cryptocurrency online, a user must…

BTC Above $21,000 as ETH Hits Fresh 2-month High โ€“ Market Updates Bitcoin News

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Bitcoin surged to a fresh two-month high on Jan. 14, as crypto markets were significantly higher on Saturday. The worldโ€™s largest cryptocurrency jumped above $21,000, as prices rallied for a sixth straight day. Ethereum traded above $1,500 to start the weekend, also hitting its strongest point since November. Bitcoin Bitcoin (BTC) rose for a sixth straight session to start the weekend, as prices moved above the $21,000 level. BTC/USD climbed to a peak of $21,054.38 earlier in todayโ€™s session, which comes after prices were at a bottom of $18,793.66 on…