Starting in fall, Avalanche’s Multiverse funds will be released over 12 months via the Dexalot incentive program. The funds are contingent and will be distributed in accordance with the subnet hitting new milestones, said the press release. The company declined to comment on the details of what the milestones are. Source
FTX, the troubled cryptocurrency exchange, and its CEO John J. Ray III have filed a motion seeking to reach a settlement of $176 million with Genesis entities. As per a legal document, FTX Trading and related debtors have formally requested a court mandate to resolve their disagreement with Genesis entities, aiming to settle claims amounting to nearly $176 million. The claims put forth by Genesis entities involve around $176 million in customer claims against FTX Trading and its affiliates. However, FTX creditors expressed discontent and have urged the Official Committee…
The Sei Foundation, which coordinated the airdrop, posted on X early Thursday that it had tripled the number of eligible wallets for the cross-bridge airdrop to 1.5 million from 500,000, on blockchains including Ethereum, Polygon, Arbitrum and Solana. The expansion was “due to fervent demand,” according to the post. Source link
Within the dynamic cryptocurrency environment, THORChain (RUNE) has emerged as a notable altcoin, capturing the interest of investors who are actively pursuing methods to augment the diversification of their investment portfolios. In conjunction with the established entities such as Bitcoin and Ethereum, the cryptocurrency market has experienced significant growth with a diverse range of alternative coins, each presenting unique attributes and prospective prospects. Altcoins, which comprise a diverse array of technological advancements, application cases, and governance frameworks, provide investors a wide range of options to consider. THORChain Emits Force In…
Controversial new measures known as the travel rule, requiring crypto operators to identify the sender and recipient of funds transfers, are already legislated to take effect in the U.K. as of Sept. 1. While the money-laundering haven’t yet been fully implemented across the world, the U.K.’s upcoming stricter rules, including for advertising, have already put a halt to the crypto business of companies such as PayPal. Source
The price of Bitcoin is finally on the move after weeks of being stuck in a tight trading range. The number one cryptocurrency by market cap stands at support with the potential for another re-test of the lows if bulls cannot push it higher. As of this writing, Bitcoin trades at $28,500 with a 2% loss in the past 24 hours. Over the previous week, the cryptocurrency recorded a 3% loss, while other assets in the top 10 underperformed and trended lower. The nascent industry could be a short-term crossroads.…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Glassnode reports a record 2.9 million BTC, valued at $82.5 billion, untouched for ten years. It underscores long-term holders’ faith amidst market fluctuations. Glassnode data shows that the amount of Bitcoin that has not been moved for at least ten years just hit a new all-time high of nearly 2,900,000 BTC — or about $82.5 billion. This means that the quantity of Bitcoin held for at least ten years keeps increasing and reaching new heights, suggesting…
CryptoX – Cryptocurrency Analysis and News Portal Lawyers are trying to untie a complex financial web among companies that went under in the crypto winter. Source The post Genesis, FTX Strike Deal for $175M Bankruptcy Claim appeared first on CryptoX. CryptoX Portal
“Over the years, the Omni Layer faced challenges due to the lack of popular tokens and the availability of USDT on other blockchains. This led many exchanges to favor alternative transport layers, leading to a decline in USDT usage on Bitcoin using the Omni Layer,” Tether said in the announcement. Original
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tom Lee of Fundstrat foresees a potential surge in Bitcoin’s value, particularly if the US approves spot Bitcoin ETFs, hinting at prices exceeding $150,000. In a recent CNBC interview, Tom Lee, co-founder of Fundstrat Global Advisors, predicted a potential surge in Bitcoin’s value, especially if spot Bitcoin exchange-traded funds (ETFs) receive US approval. Lee believes that if the US greenlights several spot Bitcoin ETF applications, Bitcoin’s demand could overtake its daily supply, possibly driving its price…