Day: January 24, 2023

Genesis Coin Inc, Powering 35% of Global Bitcoin ATM Transactions, Acquired by Bitstop Founders

Place/Date: Miami, Florida – January 24th, 2023 at 7:57 pm UTC · 5 min read Contact: Andrew Barnard, CEO, Source: Genesis Coin Inc Genesis Coin Inc, the first and largest Bitcoin ATM software platform worldwide announced today that they have been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo. Founded in 2013, Genesis Coin’s technology powers approximately 35% of global Bitcoin ATM transactions. Barnard and Carrillo, who also founded Bitstop, built the first and largest private-label Bitcoin ATM platform based in Miami, FL with over 2,500+ Bitcoin…

Celsius Proposes Restructuring to Offer One-Time ‘Meaningful Recovery’ Payout for Most Creditors

“[The distribution] would be at a discount. We’re not envisioning a full recovery, but it’s a meaningful recovery, Your Honor,” said Ross Kwastaniet, a lawyer for Kirkland & Ellis, the white-shoe law firm representing Celsius. “It would be a one-time distribution in liquid crypto – call it bitcoin, ethereum or stablecoins. Something that has, you know, readily tradable, readily ascertainable market value to everybody who has claims below a certain threshold.” Source

Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies – Economics Bitcoin News

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In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the parallel market, according to the latest Bank of Ghana data, one greenback buys around 10.36 units of the local currency. The Cedi’s Short-Lived Resurgence After ending 2022 as one of the world’s worst-performing currencies, the Ghanaian currency is already one of two in Sub-Saharan Africa’s top 15 currencies that depreciated…

E.U. Crypto Companies Prep For MiCA: Licensing, Insurance & More

“In Germany, most banks are against crypto,” he told CoinDesk. Smaller banks, such as N26 and Solaris, for example, are friendlier to the industry, but the biggest ones, like Deutsche Bank, are still keeping away from crypto. This may change once a pan-European regulation is in place, he believes: “Banks need some clarity in regulation, and MiCA is a step forward.” Source

Solana (SOL) price rally could fizzle out due to weak fundamentals

Solana’s (SOL) recent 250% rally to $25 has shocked many investors in the crypto market. At the same time, traders who had eyes on the negative funding rate for SOL in the futures market could have anticipated the bullish move ahead of others. It’s because excessive negative funding rates, like the one in Solana displayed below, implies that the majority of traders are on the short side, providing an opportunity for buyers to run their stops. SOL funding rate for perpetual swaps. Source: Coinglass Regardless of the reason behind the…

Bitcoin Surges To 23k As Miners Sales Sees Multi-Year Low

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Bitcoin has continued with its bullishness as it surged its price above the USD$23,000 level, a positive signal amid miners reduced the sales of their mined coins. On-chain flows flagged by Bitifinex analysts indicate that the amount of Bitcoin moved from Bitcoin mining addresses to wallets owned by cryptocurrency exchanges has declined to multi-year lows. Bitcoin transfer volume from miners to exchanges. | Source: Bitcoin Archive Selling Power Low, Favorable For A BTC Rally                       As per a Bitfinex analyst, Bitcoin miner…

At World Economic Forum This Year, Panels Debated Blockchain ‘Case Studies’

And yet, that may not actually matter. While the industry did have a smaller presence, the panels that did happen were substantive. The official WEF had more panels related to crypto and crypto-adjacent topics this year than last. The speakers at the side events represented the United Nations, NASA, CERN, BlackRock, the U.S. Congress, the Ukraine Parliament and a host of other traditional heavyweights. Source BlockchainCaseDebatedEconomicForumPanelsStudiesWorldYear CryptoX Portal