Day: February 17, 2023

GloryFinance and Korean Technology Venture Capital Sign a $3.5m Seed Round Investment Agreement – Press release Bitcoin News

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press release PRESS RELEASE. Early Jan 2023, in GloryFinance’s Development office, the Project’s Core team and representatives from one of the top Korean Technology Venture Capital has signed in a seed round funding investment agreement with a value confirmed to be USD 3.5M. The funding will be under the form of Equity acquisition while further details of the deal are not mentioned due to confidentiality. GloryFinance (token: GLR) is a newly launched DeFi project whose mission is to make DeFi adoption accessible for everyone and accelerate Blockchain’s applications sustainably across…

Celsius Failed to Record Some 7,000 Intercompany Transfers Worth Billions Leading Up to Bankruptcy

“Given the dearth of record-keeping, it may not be possible to fully reconstruct the intercompany Claim,” the statement said. “If it were at all possible, it would be a time and cost intensive forensic accounting exercise that would likely require the engagement of a forensic accounting firm to manually reconstruct every intercompany transaction at a significant cost to the Debtors’ estates.” Source

Mt Gox Creditor Duo Choose Bitcoin Payout Option for Reimbursement

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Two Mt Gox creditors, Bitcoinica and MGIF, have decided on a Bitcoin payout scheme instead of fiat payments.  The top 2 creditors of the defunct Japanese crypto exchange Mt Gox have opted for a payout mainly in Bitcoin (BTC). According to reports, defunct New Zealand-registered exchange Bitcoinica and MtGox Investment Funds (MGIF) have agreed to a crypto payout. The duo represents a fifth of all Mt Gox claims and will get paid 90% of their receivable funds. The amount will be determined by calculating approximately 21% of what Bitcoinica and MGIF had…

SEC going after Terra sparks responses from crypto lawyers: ‘Wild’

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Terraform Labs and its founder Do Kwon being in the sights of the United States Securities and Exchange Commission (SEC) have sparked various reactions from lawyers within the crypto community.  On Feb. 16, the SEC accused and charged Kwon and Terraform Labs for allegedly selling a “suite of crypto asset securities.” While community members are not defending Kwon for his actions, they are questioning the manner in which the SEC is going after Terra and its founder. Web3 lawyer Mike Selig posted his thoughts on the issue on Twitter. According…

Bitcoin metric prints ‘mother of all BTC bullish signals’ for 4th time ever

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A Bitcoin (BTC) price indicator has flashed green for just the fourth time ever this week in a major warning to bears. In a tweet on Feb. 16, crypto market analyst Mohit Sorout announced that the Dollar Cost Average (DCA) Indicator was now “suggesting a raging bull market.” DCA breakout last preceded 640% BTC price upside The latest Bitcoin metric to flip bullish on long timeframes, DCA is even getting attention from major Bitcoin investment circles. Its buy signals are rare, with Sorout seeing just three throughout Bitcoin’s history —…

Square Enix to Use Polygon’s Network in Symbiogenesis, Its Upcoming Web3 Experience – Blockchain Bitcoin News

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Japanese gaming company Square Enix has announced that it will be using Polygon, an Ethereum sidechain, as a base for Symbiogenesis, its upcoming Web3 experience. Naoyuki Tamate, producer of the game, cited the high transaction speeds and low transaction gas costs as the reasons for making this change in the game’s design. Square Enix to Harness Polygon for Symbiogenesis’ Blockchain Operations Square Enix, a Japanese game-developing company, has given an update regarding the development of Symbiogenesis, its upcoming Web3-based experience announced in November. The company revealed it would use Polygon,…

Unlike Merge, Ethereum’s Shanghai Upgrade Could Bring Ether Price Volatility

Ether’s price dropped 10% to $1,472 on the day of the Merge, but volatility quickly faded, with prices trading in a narrow range of $1,300 to $1,400 during the following four weeks. Ether’s 30-day realized volatility fell from an annualized 85% to nearly 60% in the four weeks following the Merge, according to data sourced from Amberdata. Realized volatility is a backward-looking metric measuring the degree of price turbulence observed over a specific period in the past. Source

FTX Promised High Earnings to African Students That Successfully Recruited Fellow Learners – Africa Bitcoin News

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The collapsed crypto exchange FTX reportedly used the lure of high earnings to convince African university students to become its ambassadors. In addition to encouraging new FTX investors to use the platform, student ambassadors were also required to teach them about crypto and the blockchain. Some of the students insisted they will not quit crypto despite losing funds following FTX’s collapse. Recruited Users Told of Benefits of Using FTX The collapsed crypto exchange FTX reportedly used the promise of significant rewards to encourage African students to recruit new investors to…