Month: May 2023

Canada’s central bank asks citizens what they want in a digital dollar

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Canadians are being asked to submit what features they want to be included in a potential digital Canadian dollar, with the country’s central bank opening a consultation to the public. On May 8, the Bank of Canada (BoC) launched a public consultation that will run until June 19, noting it’s exploring a virtual loonie as “the world becomes increasingly digital.” The BoC’s senior deputy governor Carolyn Rogers said in a statement the bank wants to hear what Canadians “value most in the design of a digital dollar” to help it make…

Worth it? Trader spends $120K on gas buying $155K worth of a memecoin

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A single trader just spent a staggering 64 Ether — equivalent to $118,000 — in gas fees purchasing $155,000 worth of a memecoin called Four (FOUR). According to an update from the popular blockchain tracking service ‘Whale Alert’, the lone trader paid an astonishing $119,157 in Ether (ETH) to complete a Unsiwap trade that swapped 84 Wrapped Ether (WETH) for 13.8 billion FOUR tokens. A fee of 64 #ETH (119,121 USD) has just been paid for a single transaction!https://t.co/3w4UD0AZbw — Whale Alert (@whale_alert) May 8, 2023 It appears as though…

Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit – Bitcoin News

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Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities ranging from $500 million to $1 billion. Bittrex Bankruptcy Filing Reveals Over 100,000 Creditors and $1 Billion in Liabilities Bittrex Inc. filed for Chapter 11 bankruptcy in Delaware on Monday, while its parent company Bittrex Global will continue to operate outside the United States. This development comes after the…

Ordinals Upend BTC Mining, Pushing Transaction Fees Above Mining Reward for First Time in Years

Their emergence over the past few months is a “cool example of how, just when you think Bitcoin has become boring, there’s something waiting around the corner that surprises everyone,” said Colin Harper, head of content for mining pool Luxor Technologies who did not expect transaction fees to surpass the block reward between now and when the 6.25 BTC subsidy gets halved. Source

Ripple CEO Says Company Spends $200 Million Fighting SEC Lawsuit Over XRP, Ruling Could Come in 3 Months – Regulation Bitcoin News

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Ripple CEO Brad Garlinghouse has revealed that his company is spending $200 million defending itself against the SEC in its lawsuit over xrp. The executive expects a decision on the lawsuit in three to six months. “If we win the lawsuit, it’ll be clear what xrp is, but the rest of the industry is still going to be unclear. And the whole crypto industry needs regulatory clarity in the U.S. to really thrive,” said the Ripple boss. Ripple’s CEO Shares New Info on SEC Lawsuit Over XRP The CEO of…

Crypto platform Bittrex files for Chapter 11 bankruptcy following SEC charges

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Cryptocurrency trading platform Bittrex has filed for Chapter 11 bankruptcy protection in the District of Delaware. In a May 8 filing in the United States Bankruptcy Court for the District of Delaware, Bittrex estimated it had more than 100,000 creditors, between $500 million and $1 billion in assets, and between $500 million and $1 billion in liabilities as part of bankruptcy proceedings. The declaration followed the U.S. Securities and Exchange Commission charging the company and its co-founder and former CEO William Shihara for securities violations in April. Cointelegraph reached out to Bittrex…