Month: January 2023

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

boss

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…

Celsius Proposes Bankruptcy Crypto Token Issuance as Part of Restructuring Plans

Embattled crypto lender Celsius plans to use a new bankruptcy digital currency token to pay off its creditors.  According to reports, Celsius Network LLC may issue a bankruptcy crypto token to repay creditors. This development forms part of a broader “recovery corporation” scheme by the bankrupt crypto lender to remerge as a new publicly traded company. After fielding several uncompelling acquisition bids, Celsius attorneys opine that liquidating would generate fewer funds than reorganizing. Celsius Intends to Roll Out Bankruptcy Crypto Token Sooner Celsius announced that its reorganization and bankruptcy digital…

Celo Votes To Increase Minimum Gas Threshold

boss

Celo, a mobile-focused smart contracting platform compatible with Ethereum’s virtual machine, is voting on a proposal to increase the network’s minimum gas threshold.  Voting for Celo Governance Proposal 0066 started today, Wednesday, January 18, and ends on Friday, January 27. As of the time of writing, the turnout stands at 2.6% of the total supply, with 6,840,826 CELO locked as votes.  Out of this, 6,840,116 CELO supports the proposal, 620 CELO is against the idea, and 90 CELO are voting to abstain. CELO is the native currency of the Celo proof-of-stake smart…

Bitcoin (BTC) on 2-Day Losing Streak as Broader Tech Sector Takes Plunge

boss

It is not uncommon to find mixed perceptions about the prices of Bitcoin amongst market investors and leaders. The digital currency ecosystem is not seeing the best of days today as the combined market cap value just plunged by 2.82% to $1.03 trillion. The bearish run has put a dent in the price of Bitcoin (BTC) which was on an ambitious growth streak to close January at a price that may stand as its best lift in 3 months. The premier cryptocurrency is down by 0.95% over the past 24…

Smart contracts to power day-to-day Web3 company operations

boss

Web3 firm MetisDAO Foundation launched Koris, a smart contract-based platform that allows decentralized organizations to operate and manage communities through an end-to-end operational infrastructure. In an announcement sent to Cointelegraph, the company said that Koris aims to turn decentralized autonomous organizations (DAOs) into DACs or “decentralized autonomous companies” by providing an operating system consisting of various governance and management tools. The team believes that while DAO platforms have collective decision-making and operational functions, they can be taken further by providing tools to help grow Web3 businesses. Chelsea Kubo, the co-founder and…

Bitcoin Price Upswing Is Reminiscent of 2019 Bull Revival

boss

The leading cryptocurrency by market value has jumped nearly 40% to $23,000 this month, according to CoinDesk data. The rally follows a yearlong swoon that knocked 68% off the price followed by prolonged consolidation at the depths of the bear market around $18,000 and comes as the U.S. Federal Reserve (Fed) nears the tail-end of its liquidity tightening cycle that roiled risk assets, including cryptocurrencies. Original

Bitcoin faces ‘considerable danger’ from Fed in 2023 — Lyn Alden

boss

Bitcoin (BTC) still risks “considerable danger” in 2023 as macroeconomic conditions dictate price action. That is according to economist Lyn Alden, who in private comments to Cointelegraph cautioned on Bitcoin staying bullish after its January gains. Alden: BTC price bottom is a “process” Optimism is increasing throughout crypto as BTC/USD broadly retains levels, which are 40% higher than at the start of the year. What the rest of 2023 may hold, however, is still a topic of debate, and Alden suggests that it is naive to assume that the good…