xSushi tokens were issued to users who staked tokens on the trading platform SushiSwap allowing them to receive 0.05% as a reward from each trade. Of this, 10% was directed to the SushiSwap treasury. However, as a result of Monday’s proposal decision, 100% of all fees will be sent to the treasury, leaving no rewards for xSushi holders. Source
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Bitcoin looks north, with further gains hinging on sentiment in traditional risk assets, one analyst said. Original
However, the court has objected to the BlockFi request noting that every penny used to pay employees denies the creditors their right to be reimbursed. Distressed cryptocurrency lender BlockFi has filed with the bankruptcy court in the District of New Jersey wanting to get bonuses approval for retaining experienced employees. According to the court filings, BlockFi wants to hold on to experienced employees who are constantly getting higher-paying job opportunities with other companies like Google, and Walmart. Notably, BlockFi filed for chapter 11 bankruptcy protection after it reported huge exposure…
The partnership extension between Meta and NBA will allow fans to purchase NBA-licensed apparel in the Meta Avatars Store and authenticated NBA League Pass access in Xtadium. Meta Platforms Inc (NASDAQ: META) has announced a multi-year partnership extension with the National Basketball Association (NBA) to feature enhanced virtual reality (VR) games via the Meta Quest. According to the announcement, Meta Quest – the official VR headset of the NBA and WNBA – will feature live NBA League Pass games in virtual reality throughout the season. As a result, basketball enthusiasts…
While Bitcoin mining firms face major operational challenges they continue to add more rigs and make slimmer profits from their existing machinery. During the crypto winter of 2022, Bitcoin miners had a really tough time with BTC prices collapsing and profitability sinking. On the other hand, the rising energy costs contributed to additional woes. However, Bitcoin mining activity is once again showing healthy signs amid the recent Bitcoin market rally since the beginning of 2023. Earlier this month on January 15, the Bitcoin mining activity touched a new all-time high…
The Bitcoin price is up 40% year-to-date (YTD) and has recaptured the $23,000 level. However, with ongoing concerns around DCG and Grayscale as well as macroeconomic uncertainties, many investors doubt the sustainability of the recent price rally. With higher prices, motivation among investors may be increasing to use the current price level to exit and gain liquidity, especially after the long and painful bear market in 2022, as Glassnode discusses in its report. The renowned on-chain analysis firm examines in its newest research whether Bitcoin’s recent bounce above the price…
Members of the crypto community have been discussing the number of bitcoins that have been bridged over to the Avalanche network, which is now larger than the total value locked on the Lightning Network. At the time of writing, there are 5,493 bitcoins circulating on the Avalanche blockchain, while the Lightning Network holds 5,248 bitcoins. Number of Bitcoin Bridged to Avalanche Climbs Past Lightning Network Capacity This past week digital currency advocates have been discussing the rising number of bitcoin (BTC) bridged over to the Avalanche (AVAX) network. Seven days…
Data sourced from Etherscan indicates that the exploiter first swapped 95,360 ETH worth roughly $157 million on DeFi Aggregator OpenOcean and then transacted smaller amounts capital through several decentralized finance (DeFi) protocols such as Kyber Network and 1Inch. Source
The policy decision-makers in the United Kingdom got split on whether the sale, marketing, and distribution of derivatives and exchange-traded notes (ETNs) tied with cryptocurrencies should be prohibited when it comes to retail investors. The Regulatory Policy Committee believes the measure, adopted in 2021, to be unjustified under current circumstances. The prohibition, enacted by the chief British regulator, the Financial Conduct Authority (FCA), came into force in January 2021. Since that time, the companies could no longer offer cryptocurrency derivatives products such as futures, options and exchange-traded notes, or ETNs,…