Meanwhile, the two largest cryptocurrencies by market capitalization, bitcoin and ether, were recently down roughly a percentage point to hold their most recent support. Bitcoin (BTC) was trading just below $23,000, while ether (ETH) was changing hands above $1,650. The CoinDesk Market Index which measures the overall crypto market performance was also down 1.4% for the day. Source
CryptoX – Cryptocurrency Analysis and News Portal During the bull market of 2021, Affirm had joined a number of fintech firms in offering clientele the ability to buy and sell crypto. Source The post Payments Company Affirm Shutting Down Crypto Business appeared first on CryptoX. CryptoX Portal
As Uniswap DAO’s vote to deploy to BNB chain continues, LIFI CEO Phillip Zentner argued in a February 6 forum post that the current proposal is flawed. According to him, the plan to use Wormhole as the sole governance bridge for Uniswap should be abandoned. Instead, he claimed that Uniswap researchers should work on a standardized system for using multiple bridges to handle governance decisions. The ongoing discussion on @Uniswap‘s forum is critical for the multi-chain ecosystem in 2023. TL;DR: Uniswap’s model for x-chain governance will likely become industry standard.…
The online trading broker overall missed both earnings and revenues estimates for the quarter. Source
The holding company of troubled crypto lender Genesis Global Capital, Genesis Global Holdco LLC, filed for Chapter 11 bankruptcy protection in New York on Jan. 19. Genesis is the latest crypto platform to file for bankruptcy, joining Celsius, Voyager, BlockFi and FTX. The application of Chapter 11 provisions to the crypto industry raises a series of new issues for courts. Here’s a preview of what creditors can expect, and what casual observers can learn about the implications of a Chapter 11 process for an entity in the crypto industry. The…
During the bull market of 2021, Affirm had joined a number of fintech firms in offering clientele the ability to buy and sell crypto. Source
Cloud mining firm Bitfufu, one of Bitmain’s crypto firms, is delaying for the second time its plans to go public via a special-purpose acquisition company (SPAC), according to a statement on Feb. 7. The company announced its plans to go public in January 2022 through a merger with the SPAC company Arisz Acquisition Corp, anticipating to be publicly listed in the third quarter of that year and a pro forma enterprise value of nearly $1.5 billion. The new decision will postpone the public listing to May, helping the companies to…
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On Feb 8, a jury trial in the Southern District of New York reached a verdict in Hermès’ lawsuit against MetaBirkins. The court ruled that artist Mason Rothschild had violated the trademark protections of the brand Hermès. Rothschild’s 100 “Metabirkins” NFTs were found to not be artistic commentary and therefore not protected by the First Amendment of the United States Constitution. According to a report by Vogue Business, a nine-member jury found Rothschild liable for trademark infringement, trademark dilution, and “cybersquatting,” awarding Hermès $133,000 in damages. Notably, the decision marks…
Whether their bravado should extend to crypto is up for debate. Walter Teng, vice president of Digital Asset Strategy at Fundstrat Global Advisors, said in a Twitter message with CoinDesk, “Seems like [FOMO], boredom, degeneracy, wanting to make it back.” Source