Day: March 16, 2023

Successful Ethereum Shapella Testnet Beckons Long-Awaited Shanghai Mainnet Upgrade

Ethereum recently concluded its final dress rehearsal, dubbed Shapella, on the Goerli testnet en route to its mainnet upgrade. The Ethereum Shapella upgrade is on course for launch following its successful activation on the Goerli testnet. According to reports, this development is in the final phase before the upgrade goes live on the mainnet. With the Ethereum Shapella upgrade mainnet development, stakers can unstake their Ethereum (ETH) from the protocol. According to Ethereum developer Tim Beiko, the mainnet upgrade will happen next month following the Goerli forking. Beiko added that the fork is a requisite…

Cathie Wood’s Ark Invest Raises $16 Million for Another Crypto Fund

Cathie Wood praised crypto assets for proving to be safe havens as crisis unfolded in the US banking system last week. Ark Investment‘s Cathie Wood is known for making some of the bold bets in crypto. Even during the strong downfall of 2022, Cathie Wood has been a regular investor in crypto companies like Coinbase. In another such development, ARK Investment Management LLC managed to raise a staggering $16 million from investors for a new crypto-focused investments fund. On Wednesday, March 15, the filings submitted to the US Securities and…

FTX fiasco set back the approval of Bitcoin spot ETFs: Valkyrie investment chief

In episode 11 of Hashing It Out, Cointelegraph’s Elisha Owusu Akyaw speaks to Steven McClurg, the chief investment officer of Valkyrie Investments, about the state of Bitcoin (BTC) exchange-traded funds (ETFs) and the way forward. Regulators in the United States have mounted stiff opposition against listing Bitcoin spot ETFs even though Canadian and European regulators have given the green light. McClurg points out that even for the Canadian and European markets, these approvals also took a long time. According to McClurg, the two biggest issues U.S. regulators have with Bitcoin…

Bitcoin holders rapidly increase amid market recovery

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Investors are trooping into bitcoin (BTC) amid a perceived recovery campaign. BTC addresses holding at least 0.01 coins recently hit an all-time high value of 11.66 million. The total number of addresses has also increased to 45.14 million. On-chain intelligence resource Glassnode recently called public attention to the bullish development, sharing a chart to corroborate the metric. The chart reveals a gradual uptick in BTC addresses holding at least 0.01 coins. This uptick became even more apparent in late 2022.  Besides these smallholders, the number of BTC addresses holding at…

Coinbase expects high demand for ETH unstaking with Shanghai upgrade

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Ether (ETH) stakers who have had their holdings locked up during the Ethereum Merge event might soon have access to “unstaking.“ Coinbase has announced in a tweet that unstaking requests on its platform may take the protocol weeks or months to process. According to the tweet, it expects a flood of staking withdrawal requests after the update to the Ethereum network enables the functionality next month. The Merge transitioned Ethereum from proof-of-work (PoW) to proof-of-stake (PoS) in September 2022, but stakers’ holdings remained locked up. This merger created a temporary situation where…

Virgin Orbit (VORB) Shares Down Over 40% with Company Furloughing Almost Entire Staff

As of the end of Q3, Virgin Orbit has $71.2 million in cash and $30.9 million in revenue. Shares of aircraft engineering company Virgin Orbit Holdings Inc (NASDAQ: VORB) dropped by 33% in extended trading as the company is discharging nearly all its workers. According to people familiar with the matter that spoke to CNBC, the company is additionally suspending operations for a week as it seeks a funding lifeline. Currently, at premarket trading, Virgin Orbit has declined further, with its shares currently down 43.86% in the premarket trading session.…

What are fan tokens, and how do they work?

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Fan tokens work by allowing fans to buy ownership in a specific asset or experience related to a sports team, celebrity or artist and giving them access to exclusive content and benefits. Teams looking to launch fan tokens collaborate with blockchain-based platforms, like Socios, to mint the tokens on a blockchain. A fan token offering (FTO) is scheduled where fans can buy the tokens for a flat price. Post-FTO, the value of fan tokens could rise or fall, depending on team performance, use cases, demand, project execution and similar other…

Bitcoin returns to $25K as Credit Suisse bailout precedes EU rate hike move

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Bitcoin (BTC) rebounded for a fresh challenge of $25,000 on March 16 ahead of a key interest rate decision in Europe. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Credit Suisse stock up 40% after “decisive action” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining almost $1,000 versus overnight lows of $24,229 on Bitstamp. The pair remained buoyant as news hit that Switzerland’s central bank was due to inject $50 billion Swiss francs ($53.8 billion) into the embattled Credit Suisse, shares of which added 40% on the day. “These…

ICO issues reprimand to the Metropolitan Police Service for inadequate handling of files related to organised crime groups

The Information Commissioner’s Office (ICO) has issued a reprimand to the Metropolitan Police Service (MPS) following several issues identified around their uploading, amending and deleting of various criminal intelligence files relating to Organised Crime Groups (OCG). The breach is reported to have happened between April-July 2020. It was first identified that a coding issue had occurred on the Police National Database (PND), resulting in a small set of test data being inadvertently introduced to the live system. This caused some files being rejected, an issue that went unnoticed by the…

After Presidential Rebuke, Nigeria’s Central Bank Says Demonetized Naira Banknotes Still Legal Tender – Africa Bitcoin News

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The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme Court ruling that extended the lifespan of the demonetized naira banknotes, followed a rebuke of the CBN by the outgoing Nigerian president, Muhammadu Buhari. Central Bank’s Silence and the Resulting Speculation The Central Bank of Nigeria finally issued a statement on March 13 reaffirming a Supreme Court ruling which extended the lifespan of the recently demonetized naira notes. In the…