Day: January 20, 2023

Bitcoin, Ether Rise Slightly After Genesis’ Chapter 11 Filing

Bitcoin rose 1% to around $21,000 over the past 24 hours after the Genesis bankruptcy news hit the wires. Ether rose 2% to $1,545, CoinDesk data shows. Traders weren’t surprised by bitcoin’s and ether’s resilience following the news. “The market appeared to expect the Genesis bankruptcy filing for the last 48 hours as the GBTC discount suddenly widened again. With Genesis filing for bankruptcy, this removes a negative overhang from the market, and crypto investors can finally focus on fundamentals,” Markus Thielen, head of strategy and research at crypto-services provider…

How to Choose Anonymous Bitcoin Mixer

Using a crypto mixer is an effective way to protect your privacy when using cryptocurrencies. It’s important to research each option thoroughly before selecting one and make sure it meets your specific needs. In cryptocurrencies, anonymity is a top priority for many users. However, it might be tricky to use digital currencies while protecting your privacy. This article will provide an overview of crypto mixing and its importance for those looking to protect their privacy. We’ll also look at three famous crypto-mixing solutions to help you in the process of…

Alphabet Reportedly Set to Layoff 12,000 Employees

The layoff will affect every aspect of its business operation and teams from corporate services, recruitment, and engineering are affected. American multinational technology company Alphabet Inc (NASDAQ: GOOGL) may be crumbling under the weight of its own staff size and is considering a 12,000 workers layoff. As reported by Reuters, citing a company’s memo it reviewed, the layoff will cut across its global operations, however, the impact will be immediately felt in the United States. The retrenchment will represent some 6% of the company’s workforce and Chief Executive Officer Sundar…

Is “The Howey Test” outdated? Modernizing regulations for the digital age

The rate and reach of cryptocurrency adoption in recent years signals the dire need for modern regulations that simultaneously safeguards investors and enables innovation to flourish. As it stands, most crypto tokens fall within a regulatory gray area as they don’t fit within the confines of the traditional financial system — so why should they fall prey to inapplicable, outdated rules? Presently, the SEC applies “The Howey Test,” a legal analysis based on a 1946 U.S. Supreme Court ruling, to differentiate between securities and non-securities. The SEC asserts that securities…

Genesis bankruptcy filing sparks various community responses

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As the crypto lender Genesis Global Trading filed for Chapter 11 bankruptcy protection in New York, members of the crypto community went on social media to express their thoughts on the matter.  From believing that no one will be held accountable to labeling the entire crypto lending concept as “stupid,” community members gave their thoughts on the newest addition to the seemingly never-ending bankruptcy spree within the crypto space. Some believe that the winners in all of these events will be bankruptcy lawyers. According to a community member who claimed to…

Ericsson Q4 2022 Earnings Report Sees Income Slide on Waning 5G Equipment Sales in Key Markets

Swedish telecoms giant Ericsson says despite its poor Q4 2022 earnings, it sees significant patent revenue growth in the next 24 months.  Ericsson recently reported a larger-than-anticipated decline in its Q4 2022 earnings statement. The Swedish telecommunications giant said its underwhelming fourth-quarter earnings are due to a slowdown in sales of 5G equipment in high-margin markets. The pullback in spending on 5G networks by some customers, most notably in the US, saw Ericsson shares decline to a four-year low. Furthermore, the multinational networking and telecommunications company’s latest report comes amid…

BTC, ETH, DOGE, and ADA Are Undervalued, Report Indicates

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Despite the increase in market capitalization, which shows investors might be returning, big large caps are still deemed undervalued. In a tweet posted today by blockchain intelligence firm Santiment citing the MVRV Z-score, Binance coin (BNB) is the only overvalued crypto amongst tokens with a large market cap. Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Polygon (MATIC), Shiba Inu (SHIB), Uniswap (UNI), and Chainlink (LINK) are very much still undervalued. Price Outlook On BTC, ETH, And Undervalued Large Caps Santiment reported that BTC, ETH, XRP, ADA, DOGE,…

Somalia to Fight Inflation and Counterfeiters With New Banknotes – Africa Bitcoin News

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According to the deputy governor of the Somalian central bank, Ali Yasin Wardheere, the institution plans to fight inflation and currency counterfeiters with newly issued shilling banknotes. The bank reportedly said it hopes to complete the process of replacing old and high-value shilling bills with newly designed banknotes in 2024. Preserving the Value of New Money The Central Bank of Somalia (CBS) plans to replace old, high-value shilling bills that have been in circulation since 1991 with redesigned banknotes. The central bank hopes this process, which it expects to complete…

Sundance Film Festival embraces blockchain and crypto film initiatives

Web3 technologies continue to infiltrate various mainstream industries to bring innovation to old systems. This includes legacy creative fields such as the music industry and more recently, the film industry. This year, the Slamdance Film Festival, an oscar-accredited film festival for indie filmmakers, will see the premiere of the new film “Fuzzy Head,” which received its funding through the blockchain-powered crowdfunding platform Untold.io.  Ali Aksu, the CEO of Untold.io, told Cointelegraph that filmmakers, as in the case of Fuzzy Head, can use blockchain technology to democratize their financing process and…