Day: January 25, 2023

Smart Contracts without Admin Rights Are Crucial for Trustless Decentralized Finance

The primary objective of decentralized finance is to create a world where no trust is needed. When people think of decentralized finance, they automatically assume there are no risks. After all, intermediaries don’t exist, and everything is trustless. However, smart contracts can still contain admin rights, which puts all users at risk. Ensuring these “admin keys” no longer exist is the next major frontier to conquer. DeFi Smart Contracts and Admin Rights On the surface, a smart contract is a code facilitating automation and decentralization. Users interact with the code…

Roger Ver Sued for Defaulting on $20 Million Genesis Debt

GGC has given Ver 20 days to respond to the complaints filed against him. As crypto lending firm Genesis begins to come to terms with its bankruptcy, one of its offshoots – GGC International, has sued popular Bitcoin Cash (BCH) advocate Roger Ver. According to a January 23 court filing made available at the New York State Supreme Court, Ver is being sued over his failure to settle crypto options transactions worth over $20.8 million. And in addition to that, GGC also wants Ver to bear whatever costs the firm…

Here’s Why The Bitcoin Price Rally Stalled For Now

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The Bitcoin price rally has stalled for five days now. After BTC experienced a furious surge from $21,000 to $23,000 last Friday, the price is now in a consolidation phase. The reasons for this are diverse. As NewsBTC reported, Bitcoin’s Relative Strength Index (RSI) on a daily basis is showing severe overheating. The technical indicator reveals that the BTC price is in heavily oversold conditions. During the recent upward movement, the daily RSI was near 90 at times but has since cooled to 78 at press time. The stalling of…

Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries – Economics Bitcoin News

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President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also countries from BRICS and Mercosur. Lula Clarifies Latam Common Currency Intention Luis Inacio Lula Da Silva, president of Brazil, has clarified the facts surrounding the intention that Argentina and Brazil have of creating a Latam common currency, that would be later…

Crypto Lender Celsius Wins Court Approval for Customer Withdrawals, Flare Token Airdrop

Customers are allowed to withdraw funds transferred to the platform after the bankruptcy petition date in the form of crypto “net of any gas fees or transaction costs,” according to the order. The withdrawals will need to be approved by the appointed committee of creditors should the transfer amount exceed $40,000 (and the transferor received more than of $200,000 from Celsius during the three months leading up to the bankruptcy filing). Source

Rocket Lab Stock Up 4% after Launching First Space Mission on US Soil

Rocket Lab has started the year on a very promising pedestal. American space and rocket engineering firm, Rocket Lab USA Inc (NASDAQ: RKLB) is seeing impressive growth in its stock price after it successfully completed its first space mission on US soil. As reported by Reuters, the launch took place on Tuesday from the firm’s new launch pad at the NASA-operated Wallops Flight Facility on Wallops Island, Virginia. The company made use of its flagship Electron Rocket, a 40-foot tall rocket that is replaceable. The company’s Virginia mission was initiated…

Blockstream Raises $125M to Expand Bitcoin Mining Operations

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Blockstream has over 500 Megawatts in its development pipeline to expand its Bitcoin mining facility for institutional investors. Blockstream Inc, a leading Bitcoin and blockchain infrastructure company, has raised  $125 million in a convertible note and secured loan financing. According to the announcement, Blockstream intends to use the money to expand its institutional Bitcoin mining colocation services. The just-concluded fundraising was led by Kingsway Capital and Fulgur Ventures. This follows last year’s $210 million Series B funding round that was used to expand its institutional Bitcoin mining operations. Additionally, the…