Month: January 2023

BlockFi plans to file assets and liabilities for bankruptcy case on Jan. 11

Crypto lending firm BlockFi has announced it will disclose information on its assets and liabilities as well as payments received prior to its bankruptcy filing in November. In a Jan. 9 Twitter thread, BlockFi said it had filed a presentation for its stakeholders detailing plans for future court filings and a rundown of the bankruptcy proceedings. According to the lending firm, the company reached out to 106 potential buyers shortly after its first bankruptcy hearing in November and will ask for the courtโ€™s approval regarding the bidding process on Jan.…

Smart Contract Platform Tokens See Double-Digit Gains, Boosting Defi TVL Above $40 Billion โ€“ Defi Bitcoin News

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Decentralized finance (defi) and smart contract platform tokens rallied on Monday morning (ET) and the total value locked in defi jumped above the $40 billion zone for the first time since mid-December 2022. The top smart contract platform coins by market capitalization increased 7.1% on January 9, 2023, and most have seen double-digit gains over the last week. Lido Finance Emerges as Most Dominant Defi Protocol, Surpassing Makerdao in TVL Size Cryptocurrency markets have been positive at the start of the second week of 2023, as the entire crypto economy…

Bitcoin mining stocks surge with broader market as traders see less aggressive Fed

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Shares of publicly traded Bitcoin (BTC) miners surged on Jan. 9 as traders piled into equity markets amid growing bets that the United States Federal Reserve would soon be able to relax its aggressive fight against inflation.ย  Bitcoin miners Riot Blockchain (RIOT), Hut8 (HUT), Bitfarms (BITF), Marathon Digital Holdings (MARA) and others posted double-digit percentage gains in intraday trading.ย  The rally coincided with a broad uptick in equity markets, with the large-cap S&P 500 Index rising 1% and the technology-focused Nasdaq climbing 2% before paring gains. Markets rallied ahead of…

SBF claims himself not guilty, faces up to 115 years in jail: Law Decoded, Jan. 2-9

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Former FTX CEO Sam Bankman-Fried has pled not guilty to all criminal charges heโ€™s facing, including wire fraud, securities fraud and violations of campaign finance laws. In total, the entrepreneur faces eight criminal counts, which could result in 115 years in prison should he be convicted. Meanwhile, Daniel Friedberg, the controversial lawyer who served as top compliance chief at FTX, has reportedly cooperated with prosecutors and provided them with his knowledge of SBFโ€™s use of customer funds to finance his illegal business scheme. The United States Attorneyโ€™s Office for the…

Voyager tells court Binance acquisition plan is โ€˜sound business judgment,โ€™ urgently needed

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Bankrupt crypto brokerage Voyager Digital filed documents in a United States court on Jan. 8 in response to objections raised to the Binance.US proposal to buy out its debt. Voyager announced it had approved the offer on Dec. 19. The Securities and Exchange Commission, four states, the U.S. trustee and Alameda Research filed objections to it. Voyager stated in one document that objections to the Binance.US offer โ€œfail to put forward any factual or legal supportโ€ in their arguments, while Binance.US offered creditors higher recovery rates than other proposals and…

Der spannendste Bรถrsengang 2021! (Coinbase)

โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io Die erste Kryptowรคhrungs- Handelsplattform der Welt geht an die Bรถrse. Soll man die Coinbase Aktie kaufen oder doch die … โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io Youtube version

Price analysis 1/9: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, LTC

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DXY is cooling off and crypto and equities are starting to heat up. Cointelegraph explores how BTC and altcoins could react to the current bullish momentum in the market. Investors across asset classes have been keeping a close watch on the United States Federal Reserveโ€™s monetary policy because that sets the stage for a risk-on or a risk-off environment.ย  The strong rally in the U.S. stock markets on Jan. 6 and in cryptocurrencies over the weekend suggests that market observers anticipate the Fed to slow down its frantic pace of…

The โ€˜Elon effectโ€™ shows how opinion leaders shape the fintech market

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The power that influencers have in affecting public perception and therefore causing alterations in the value of a product, service, asset or currency has increased to the point where they can crash or uplift entire markets with their content and takes.ย  The Elon Effect In 2021, Elon Musk could send the price of the famous memecoin Dogecoin (DOGE) up by 50% with just a single tweet. He still has a lot of power over the crypto markets, and several people in the cryptocurrency world and traditional finance have accused Musk…

Former CCP official apologies for ‘grave losses’ as a result of supporting crypto miner: Report

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Xiao Yi, the former Chinese Communist Party secretary of Fuzhou, has confessed to โ€œacting recklesslyโ€ in support of crypto mining during a state-run television broadcast.ย  In an interview released by state-run media on Jan. 8, Xiao seemed to speak with a very subdued voice from what appeared to be prison, apologizing for being a โ€œsinnerโ€ and causing โ€œgrave lossesโ€ to Fuzhou. The former CCP official pled guilty to corruption charges in December related to accepting more than $18 million in bribes for construction programs and illicitly promoting projects โ€” including…

Is The Bitcoin Bottom In? Here’s What aSOPR Metric Suggests

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A quant has explained using past trends of the Bitcoin adjusted Spent Output Profit Ratio (aSOPR) whether the current cycle has yet met all the bottom conditions. Bitcoin aSOPR EMAs Are Approaching Golden Cross As an analyst in a CryptoQuant post explained, the aSOPR EMAs are looking to form a golden cross soon. The โ€œSpent Output Profit Ratioโ€ (SOPR) indicates whether the average Bitcoin investor is selling at a profit or at a loss right now. The โ€œAdjusted SOPRโ€ (aSOPR) is a modified version of this metric that excludes from…