Month: March 2023

Coinbase expects high demand for ETH unstaking with Shanghai upgrade

boss

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?

boss

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

boss

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

boss

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…

Crypto Observers Believe U.S. Banking Crisis Could Strengthen Crypto Ecosystem in the Long Term

Elsewhere, Jonathan Zeppettini, strategy Lead at Decred, said: “The situation with Silvergate, Silicon Valley Bank, and Signature is a combination of a few things; banks failing to properly hedge interest rate risk, a classic bank run stemming from that illiquidity as they are forced to realize losses if they do not hold those assets to maturity, and opportunism by regulators to force the unwind of banks that are seen as “crypto-friendly.” Source

JPMorgan Strategists Says US Fed Could Inject $2T into Banking System

The trio of the Federal Reserve, the Treasury Department, and the Federal Deposit Insurance Corporation (FDIC) have been pledging support to depositors. Analysts at American banking giant JPMorgan Chase & Co (NYSE: JPM) believe the Federal Reserve will inject massive liquidity into the banking ecosystem to help cushion the current crisis in the industry. The strategists, led by Nikolaos Panigirtzoglou said the funds that will be injected into the system could be as high as $2 trillion. “The usage of the Fed’s Bank Term Funding Program is likely to be…

ICO reaches agreement with Easylife Ltd

The Information Commissioner’s Office (ICO) has reached an agreement with Easylife Ltd (Easylife) to reduce the monetary penalty notice (MPN), issued for breaching the Data Protection Act 2018, to £250,000. Easylife accepts the ICO’s findings set out in the MPN and has agreed to pay the reduced fine. The ICO fined Easylife on 4 October 2022. This followed an investigation which found the company was making assumptions about customers’ medical conditions, based on their purchase history, to sell them further health related products. The ICO found this involved the processing…