Day: January 20, 2023

Fairfax County, Virginia, Pension Funds Exposed to Genesis Bankruptcy

The Fairfax County Police Officers Retirement System, which is led by Chief Investment Officer Katherine Molnar and which was managing about $1.8 billion as of last summer, has invested in the crypto industry since 2019 – a notable and extremely rare step for pension funds. Prior investments have included a $50 million commitment in Morgan Creek Capital’s blockchain fund. Source BankruptcyCountyExposedFairfaxFundsGenesisPensionVirginia CryptoX Portal

debtors face ‘assault by Twitter’ stemming from Sam Bankman-Fried

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James Bromley, one of the lawyers representing debtors in FTX’s bankruptcy case, has criticized social media activity against his law firm promulgated by posts from former CEO Sam Bankman-Fried. In a Jan. 20 hearing in the District of Delaware, lawyers spoke on motions dealing with potential conflicts of interest between Sullivan & Cromwell, the law firm tasked with the investigation of FTX’s bankruptcy, and the crypto exchange. Bromley, a partner at Sullivan & Cromwell, pushed back against the narrative that the law firm would be unable to act as a…

Bitcoin Shakes Off Genesis Bankruptcy Filing

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Bitcoin has not moved as expected despite the news of Genesis, one of the largest crypto lenders in the world, filing for bankruptcy. This lack of negative movement from bitcoin in response to the news could cement the digital asset’s path to the upside in the coming weeks. Bitcoin Remains Unfazed By Genesis Despite the dreaded news of a Genesis bankruptcy finally becoming a reality, the price of bitcoin has not reacted negatively. In fact, the digital asset has barely responded to the news at all and continues to trade…

SOL Rebounds From Recent Losses, ATOM 5% Higher on Friday – Bitcoin News

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Cosmos raced higher for a second straight session, after recently snapping a four-day losing streak. Friday’s move saw the token move closer to a key resistance level of $12.50. Solana also moved higher earlier in the day, as price bounced from a key support point. Cosmos (ATOM) Cosmos (ATOM), was one of Friday’s notable gainers, as the token moved closer to a key resistance level. Following a low of $11.70 on Thursday, ATOM/USD raced to an intraday peak of $12.38 earlier today. As a result of this move, cosmos moved…

Sell Pressure Mounts On Bitcoin As Miners Offload More BTC

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CryptoQuant data on January 20 shows an unusually sharp spike in Bitcoin miners’ outflow, an unexpected development considering the solid performance of BTC prices in the past few trading days. Miners’ Position Index (MPI) Rising The Miners’ Position Index (MPI) is up from -0.85 registered on December 31, 2022, to +3.25 on January 19, 2023. The expansion could indicate that miners are moving their coins, at a faster pace, to centralized exchanges.  Rising Miners’ Position Index| Source: CryptoQuant The MPI is a moving ratio between the total miner outflows to the…

Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold

Bitcoin (BTC) rose toward new multi-month highs on Jan. 20 as analysis predicted a new trading range above $18,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price range “well defined” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD testing but preserving support at $21,000. The pair edged higher at the Wall Street open, in line with United States equities as the third trading week of an explosive January drew to an end. Despite misgivings over the rally’s fundamental strength, Bitcoin continued to avoid significant corrections, with exchange order…

NFT Steez and Cryptoys CEO discuss the future of toys and entertainment within Web3

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This week, NFT Steez met with Cryptoys founder Will Weinraub to discuss the current role of play and toys in regard to their integration with nonfungible tokens  and Web3 as a whole.  Weinraub believes that the act of play is “not restricted to children” and that as adults, “we still crave the element of play throughout life.” According to him, “play has evolved” through the development of technology. NFTs, especially in gaming, have highlighted this layer of ownership through play. Weinraub and Cryptoys theorize that “adults are just looking for ways to…