Month: January 2023

Bitcoin miner Greenidge cuts NYDIG debt from $72M to $17M

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Bitcoin (BTC) mining company Greenidge Generation has significantly reduced its debt with the investment management firm, New York Digital Investment Group (NYDIG). On Jan. 30, Greenidge entered into several agreements associated with its secured debt with NYDIG, transferring ownership of Bitcoin mining hardware and certain credits to NYDIG. The transaction reduced the principal and accrued interest balance of debt with NYDIG from about $76 million to roughly $17 million, resulting in total aggregate debt reduction of around $59 million. One of the agreements, the senior secured loan agreement, also enables…

BTC, ETH Lower, Ahead of Key Week of US Economic Data – Market Updates Bitcoin News

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Bitcoin fell below $23,000 on Jan. 31, following a recent move to a five-month high over the weekend. Market volatility has since increased, as traders prepare for a big few days of economic data from the United States. The conference board will release its consumer confidence report later today, with the Federal Reserve holding its policy meeting on Wednesday. Ethereum also moved lower today. Bitcoin Bitcoin (BTC) retreated from a recent five-month high on Tuesday, with prices falling below the $23,000 mark in today’s session. BTC/USD fell to a low…

ADA-backed algorithmic stablecoin Djed launched on Cardano

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Since the fall of the Terra (LUNA) algorithmic-stablecoin in mid-2022, many users in the crypto space have developed a weariness towards that particular asset class. The market for algorithmic stablecoins has dropped 10 times what it was at its all-time high prior to the Terra incident. However, this has not stopped developers on the Cardano network pushed forward with the launch of the ecosystem’s overcollateralized stablecoin. Djed (DJED) launched on the Cardano mainnet on Jan 31. and is pegged to USD and backed by Cardano’s native coin ADA (ADA). It…

BAYC investors have less than a week to join class action against Yuga Labs

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Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC), and other projects. Rosen Law Firm, a global law firm focused on investor rights’ protection, announced on Jan. 30 that it’s planning to file a class action lawsuit against Yuga Labs.  Rosen invited purchasers of Yuga securities — including BAYC NFTs and the native token ApeCoin (APE) — to join the class action against Yuga by the lead plaintiff deadline set for Feb. 7. The law…

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

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The fate of the Panamanian crypto bill project, which was approved by the Panamanian National Assembly last year, now depends on the decision of the supreme court of the country. The sanction of the project, which was vetoed by President Laurentino Cortizo, is now in the hands of the court after Congress rejected the veto measure. Panamanian Law Still Has Opportunity of Being Approved The Panamanian cryptocurrency bill, which was introduced in 2021 to the National Assembly and passed by the institution last year, has the opportunity of being re-examined…