Day: February 6, 2023

Ethereum Plans ‘Shapella’ Transition on Zhejiang Testnet — Dev Insists ‘Withdrawals are Coming’ – Technology Bitcoin News

Ethereum core developers plan to activate the “Shapella” transition through the Zhejiang public testnet on Feb. 7, 2023, according to Tim Beiko of the Ethereum Foundation. If successful, Beiko said the Sepolia testnet could follow two days later, followed by the Goerli testnet. He noted that the testnet has a faucet, block explorer, and staking launchpad support and urged validators to obtain 33 ether from the faucet and “be ready for Shapella Tuesday.” Ethereum Devs Prepare for ‘Shapella’ Upgrade; Sepolia, Goerli Testnets to Follow If All Goes Well On Feb.…

FTX Money Backed US Lawmakers With Future of Crypto in Their Hands

Nearly two-thirds of the members of the Senate Agriculture committee took FTX cash, including Sen. Debbie Stabenow (D-Mich.), the panel’s chairwoman, and its ranking Republican, Sen. John Boozeman (R-Ark.). Last year that panel was in the crypto industry’s spotlight because the two lawmakers pushed a bill to establish rules of the road for digital assets in the U.S., including giving the CFTC authority over trading of non-security tokens such as bitcoin. Source

Binance-native blockchain BNB Chain continued to show steady activity growth

According to new study, the native Binance blockchain known as BNB Chain continues to demonstrate consistent rise in activity during the fourth quarter of 2018, despite the larger bear market in the cryptocurrency industry. James Trautman, a researcher for Messari, stated on February 5 that the Binance network has proceeded with a “aggressive plan to deploy financial and human resources throughout its ecosystem” in a paper titled “State of BNB Chain Q4 2022,” which was released on February 5. The study said that because of these continual improvements and innovations,…

StarkWare partners with Chainlink | Blockchain News

An impending agreement between the blockchain scaling technology firm StarkWare and Chainlink Labs will result in the addition of Oracle services, data feeds, and price feeds to the StarkNet ecosystem. This relationship will be established in the near future. Because of the relationship, StarkWare will take part in Chainlink’s Scale programme, and the price feeds for StarkNet’s testnet will come from Chainlink. In addition, StarkNet tokens will be used to fund some operating expenditures for Chainlink oracle nodes. This access to Chainlink oracle services and data feeds will be provided…

Independent FTX Examiner Could Cost Crypto Exchange $100M, Court Told

“We do not have enough money to pay back all of our creditors and the U.S. Trustee … says that we should spend tens or even hundreds of millions of dollars” on a report, said James Bromley of FTX’s law firm, Sullivan & Cromwell. There is “no evidence that any of those professionals or this examiner to be appointed would be any more independent” than the company’s own staff and hired experts, Bromley added. FTX’s new chief executive, John J Ray III, had previously cited $90 million to $100 million…

Bank of Italy selectively encouraging DLT, preparing for MiCA, governor says

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The Bank of Italy is looking for new ways to apply distributed ledger technology (DLT) and is preparing for the advent of Markets in Crypto-Assets (MiCA) regulation, bank governor Ignazio Visco told a congress of Assiom Forex, the Italian financial markets association, on Feb. 4.  DLT may offer benefits such as cheaper cross-border transactions and increased financial system efficiency, Visco said. The Italian central bank “is focused on the need to identify areas” where DLT can contribute to financial stability and consumer protection. Visco expressed the desire to see regulations…

Decentralized Lending Protocol Clearpool to Start Institutional Borrowing Platform

Clearpool is a blockchain-based credit marketplace that connects borrowers to lenders with hosting borrowing pools. Lenders, when they provide liquidity to a pool, receive so-called cpTokens that are specific to the pool in return. Those who hold the protocol’s governance token, CPOOL, can participate in voting and stake their tokens to earn rewards. So far, some $350 million of stablecoin loans have originated on Clearpool on the Ethereum and Polygon blockchains, per data on Clearpool’s loan dashboard. Source BorrowingClearpoolDecentralizedInstitutionalLendingPlatformProtocolStart CryptoX Portal

Price analysis 2/6: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

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The US dollar’s rise has put brakes on Bitcoin’s price recovery, but lower levels are likely to attract buyers for BTC and altcoins such as DOGE. The United States dollar index (DXY) has started a strong recovery and its rise is putting pressure on Bitcoin (BTC) and the S&P 500 (SPX) index. The market participants will be keenly watching for any insights on future rate hikes when the Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Washington on Feb. 7. Meanwhile, Bitcoin’s 43% rebound in January has…

FTX CEO testifies on ‘pure hell’ post-bankruptcy days at exchange

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John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy. In testimony for FTX’s case in the United States Bankruptcy Court for the District of Delaware on Feb. 6, Ray said he and other professionals had “carefully” been conducting an investigation into FTX’s activities, due to the company having no physical office. The FTX CEO seemed to be pushing back against a motion to assign an independent examiner to the bankruptcy case, claiming that…

Bankrupt Lender Genesis and Parent DCG Reach Initial Agreement With Main Creditors: Source

The term sheet also involves refinancing the outstanding loans where DCG borrowed $500 million in cash and about $100 million worth of bitcoin (BTC) from Genesis, the person said. Included is “an equitization of the infamous 10-year promissory note that DCG gave Genesis in return for failed hedge fund 3AC claims,” the person said, without providing details of the process. 3AC refers to Three Arrows Capital, a crypto hedge fund that collapsed last year. Source