Despite criticizing the U.S. Trustee as the “sole objector to the Motion” seeking to “inject itself into a routine settlement process that is already adequately safeguarded by two different creditor committees,” the debtors motion said it was proposing revisions in an effort to address the concerns. Source
China is reportedly looking to implement a system akin to its social credit system, but in the Metaverse and other online virtual worlds. Proposals viewed by POLITICO and reported on Aug. 20 show the state-owned telco China Mobile proposed a digital ID for all metaverse and online virtual world users that work with “natural characteristics” and “social characteristics.” The proposals say “to keep the order and safety of the virtual world” the ID would harbor a slew of personal information and identifiable signs including a person’s job and suggested such…
Ordinal inscriptions have continued to dominate activity on the Bitcoin network over the past week despite the cryptocurrency’s recent price decline and suggestions that the hype around Bitcoin NFTs have “died.” On Aug. 21, Ordinals developer “Leonidas” pointed out that Bitcoin had 530,788 transactions over the past 24 hours, with 450,785 of those transactions being Ordinals related. “In the midst of everyone claiming “Ordinals are dead” they have literally accounted for 84.9% of the activity on Bitcoin,” he said. Over the past 24 hours Bitcoin had 530,788 transactions. 450,785 of…
Litecoin price declined heavily below $80 and $70 against the US Dollar. LTC is attempting a recovery wave but upsides might be limited above $70. Litecoin is correcting losses from the $56 support zone against the US Dollar. The price is now trading below $70 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $66.00 on the 4-hour chart of the LTC/USD pair (data feed from Kraken). The price could recover above $66 but the bears might remain active near…
Ethereum price is attempting a recovery wave above the $1,620 level against the US Dollar. ETH could start a fresh decline if it stays below the 100 hourly SMA. Ethereum is struggling to recover above the $1,690 and $1,700 levels. The price is trading below $1,700 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance near $1,670 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its decline if it stays below the $1,700 level in…
The founder of layer-1 blockchain Jurat has defended his protocol against potential haters, arguing that on-chain legal enforcement is a necessary trade-off for crypto mass adoption. On Aug. 8, a U.S. District Court used Jurat’s on-chain enforcement tool to lock several sanctioned individuals out of their crypto accounts. These individuals were sanctioned for money laundering and using ransomware to extort cryptocurrency payments to benefit North Korea’s weapons program. A court just entered final judgment in a federal lawsuit and the court used @JuratNetwork to enforce its order on-chain! The judge…
Bitcoin price is consolidating losses below the $26,500 level. BTC is showing bearish signs and remains at risk of a fresh decline toward $25,000. Bitcoin is struggling to recover above the $26,600 resistance zone. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a short-term bullish trend line forming with support near $26,050 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down and trade below the $26,000 support. Bitcoin Price Turns Red Bitcoin price…
British Prime Minister Rishi Sunak is set to spend $130 million (100 million pounds) to buy thousands of computer chips to power artificial intelligence, amid a global shortage and race for computing power. The Telegraph reported on Aug. 20 that the United Kingdom aims to build an “AI Research Resource” by mid-2024 as part of Sunak’s plan to make the country an AI tech hub. The government is reportedly sourcing chips from makers NVIDIA, Intel and AMD — and it is understood that the science funding body UK Research and…
Friend.tech, a new decentralized social media (DeSo) app has rapidly become one of the hottest new things in crypto, with over 64,000 new users and more than 24,000 ETH in trading volume since its beta version launch of Aug. 11. While many crypto industry heavyweights have praised the app for bringing thousands of people on-chain and inspiring sign-ups from even non-crypto figures — such as gaming YouTuber Faze Banks and Russian protest group Pussy Riot — some have warned it’s at risk of burning out. Built on Coinbase’s layer-2 network…
Crypto mining company Gryphon Digital is contesting a lawsuit from its former collaborator, Sphere 3D, over a significant bitcoin transfer. Sphere 3D alleged in April that Gryphon Digital CEO Rob Chang transferred 18 bitcoins to an impostor pretending to be Sphere 3D’s CFO. Eight more bitcoins were subsequently transferred to the address, bringing the total loss to 26 bitcoins — roughly $500,000 at that time. Gryphon put assets at risk and “willfully” violated contractual duties, Patricia Trompeter, CEO Sphere 3D, said. According to Cryptox, citing court documents submitted on Aug.…