Day: September 1, 2023

Oprah Winfrey and Dwayne Johnson launch crypto fundraising for Maui

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The celebrities Oprah Winfrey and Dwayne “The Rock” Johnson launched the People’s Fund of Maui initiative, which accepts crypto donations. During August, the Hawaiian island of Maui was impacted by wildfires that caused massive property and personal damage. We’re honored to announce the People’s Fund of Maui, a fund putting money directly in the pockets of those who were affected by the recent wildfires. As @Oprah and I have seen firsthand, the impacts of these wildfires…

Bitcoin lines up RSI showdown as BTC price slips toward new 2-week low

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Bitcoin (BTC) fell further after the Sept. 1 Wall Street open as monthly close losses continued to play out. BTC/USD 1-day chart. Source: TradingView BTC price “Grayscale hype” disappears Data from Cointelegraph Markets Pro and TradingView followed weakening BTC price performance, which hit its lowest since Aug. 22. Bitcoin bears took full advantage of the August monthly close, with downside volatility characterizing Bitcoin and crypto markets overnight. Overall, BTC/USD lost 11.2% in August, and looking ahead into September, there was little optimism regarding a rebound among market observers. In his…

Onboarding crypto users in Africa vs. the West — Fonbnk founder Christian Duffus explains

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The African continent is considered a significant market for crypto adoption due to its youthful population, flawed economic management by governments, and inadequate financial infrastructure for internal and global connectivity. On Episode 28 of Hashing It Out, host Elisha Owusu Akyaw is joined by Christian Duffus, founder of Fonbnk, to discuss the complexity of onboarding users from the continent. Duffus shares his ideas for diverse and innovative ways to onboard new crypto users in developing markets, as well as explains how other factors like education and regulation affect the Web3 onboarding…

Bitcoin Plunges To $26,000 As Miners Sell Big

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Bitcoin has plunged towards the $26,000 level as on-chain data shows the Bitcoin mines have been participating in a selloff. Bitcoin Miner To Exchange Flow Has Spiked During The Past Day As pointed out by an analyst in a CryptoQuant post, the miners have been showing signs of selling recently. The relevant indicator here is the “miner to exchange flow,” which keeps track of the total amount of Bitcoin that miners are depositing to exchanges. Generally, these chain validators only make such transactions when they intend to sell, so the…

Hong Kong’s first licensed crypto exchange HashKey launches fund

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied HashKey Capital, the first licensed crypto exchange in Hong Kong, has announced the launch of a new secondary market crypto fund. The fund will use a significant portion of its assets to invest in the cryptocurrency industry, targeting different cryptocurrencies. According to a report, the company has secured many potential high-net-worth Asian individuals and companies. The firm’s portfolio manager, Jupiter Zheng Jialiang, explained that the company will seek to raise $100 million for its fund over…

Robinhood bought back Sam Bankman-Fried’s stake from US govt for $606M

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Cryptocurrency and stock trading platform Robinhood has announced the purchase of more than 55 million shares of the firm previously held by former FTX CEO Sam Bankman-Fried, also known as SBF. According to an Aug. 31 blog post, Robinhood completed a purchase of 55,273,469 shares for roughly $606 million following a filing with the United States Securities and Exchange Commission (SEC). The shares, originally held by Bankman-Fried and FTX co-founder Gary Wang through Emergent Fidelity Technologies, were seized in January by the U.S. Department of Justice. The purchase had been…

Creditors Say Genesis Manipulated Bankruptcy Process With FTX

The accusations of vote-buying and manipulation have added complexity and uncertainty to the Genesis bankruptcy case. Bankrupt crypto lender Genesis Global Capital (GGC) is facing new charges from creditors that the proposed $175 million transaction with the insolvent FTX exchange is an attempt to manipulate the bankruptcy process through vote buying.  These allegations, made in recent files on Thursday, cast a shadow over GGC’s efforts to wind down its operations and restore funds to former customers.  Genesis Global’s Complex Relationship with DCG One of the central issues in the Genesis…

FTX’s-Sam Bankman-Fried Puts Trial Defense Together With 7 Expert Witnesses

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Sam Bankman-Fried (SBF), the founder of the defunct FTX exchange, is set to face trial in October, barring any postponement. Amid the fracas, the former exchange CEO has maintained that he isn’t guilty of all these charges leveled against him and will be reportedly bringing expert witnesses to prove his innocence. Sam Bankman-Fried Defense To Call Seven Expert Witnesses  According to a Bloomberg report, Sam Bankman-Fried is employing the services of seven different expert witnesses to help bolster his case. These expert witnesses may form part of SBF’s defense, and…

Polygon’s new open-source L2 chain developer stack to support Ethereum ZK-powered layer 2s

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The Ethereum ecosystem could welcome a variety of new layer 2 (L2) protocols built on Polygon’s newly released open-source codebase, Chain Development Kit, which harnesses zero-knowledge proof (ZK-proof) technology to ensure security and fast finality. Jordi Baylina, co-founder and technical lead for Polygon, spoke to Cointelegraph exclusively about the new toolset, which is publicly available on a GitHub repository:  “The motivating idea is simple: It should be easy and seamless for developers to launch a ZK-powered layer 2 on Ethereum, tailored to the requirements of their project.”  According to Baylina, a…