Day: September 28, 2023

Celsius Network Valuation Consultant Approves Value of Debtors’ Assets and Liabilities

Officially, the valuation as of the end of May is correct and Celsius will pay creditors $2 billion in Bitcoin and Ether tokens. A mathematician working for Celsius Network’s valuation advisor Stout Risius Ross LLC has confirmed that the fair value of some debtors’ assets and liabilities as of May 31, 2023, is correct. Joel E. Cohen, in a declaration at the New York bankruptcy court, detailed the methods used to analyze the valuation and arrive at the conclusion. Cohen noted in the declaration: “Based on my work performed and…

Enflame Technology Secures $273.7M in Funding Supported by Tencent and Shanghai Investors

Enflame, a company that was founded in March 2018, has already made significant strides in AI chip manufacturing. The company’s cloud chips have found applications in diverse sectors, including education, smart cities, and scientific research. Enflame Technology, a Chinese tech company specializing in artificial intelligence (AI) chip development, has announced the successful completion of its Series D funding round, raising an impressive 2 billion yuan (approximately $273.7 million). This significant investment was led by a subsidiary of Shanghai International Group, with participation from technology giant Tencent, known for its popular…

Trading of Ethereum Futures ETFs May Start Next Week

According to analysts, there are 15 Ether futures ETFs awaiting approval. The United States Securities and Exchange Commission (SEC) has postponed its decision on spot Ether exchange-traded fund (ETF) applications from ARK 21Shares and VanEck. This comes after a September 26 announcement from the regulator saying it had extended the period for deciding on spot Bitcoin ETF applications from ARK 21Shares and Global X. In notices filed on September 27, the SEC said it would extend the deadline for its decision on whether to approve or reject a proposed rule…

Dogecoin Price (DOGE) Prediction – Key Support Intact But Bulls Face Challenges

Dogecoin is holding the key support at $0.0595 against the US Dollar. DOGE could start a fresh increase if there is a clear move above $0.062 and $0.0635. DOGE started a fresh decline and retested the $0.0595 level against the US dollar. The price is trading below the $0.062 level and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.0610 on the 4-hour chart of the DOGE/USD pair (data source from Kraken). The price could struggle to clear the $0.0615…

Bitcoin halving to raise ‘efficient’ BTC mining costs to $30K

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Bitcoin (BTC) Ordinals are boosting miner profits, but “income stress” is looming, new research warns. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode predicted fresh problems for miners after Bitcoin’s next block subsidy halving. Bitcoin halving impact on miners could be “severe” Bitcoin miner competition is exploding, with hash rate — the estimated combined processing power deployed to the blockchain — at record highs. For Glassnode, this indicates unprecedented conditions for miners trying to eke out a living at current BTC price levels. Ordinal…

Europe drives institutional crypto adoption: Blockchain Expo Amsterdam

Europe remains fertile ground for the cryptocurrency ecosystem to flourish in comparison to harsher regulatory environments, according to prominent speakers at this year’s Blockchain Expo in Amsterdam. Cointelegraph attended the convention held at the RAI conference center for the second year running, with the Blockchain Expo forming part of the larger Tech Expo event being hosted in the Netherlands. The event has typically attracted prominent mainstream industry players from the financial world to showcase how blockchain technology is being leveraged to power innovative new products and solutions across a myriad…