Month: September 2023

Gemini legal team accuses DCG of ‘gaslighting’ Genesis creditors

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Lawyers representing Gemini Trust have pushed back against a plan proposed by Digital Currency Group (DCG) for creditors of Genesis Global. In a Sept. 15 filing in the United States Bankruptcy Court for the Southern District of New York, the legal team accused DCG of gaslighting Genesis creditors through “contrived, misleading, and inaccurate assertions” in the recovery plan. The plan, filed in bankruptcy court on Sept. 13, claimed that unsecured creditors could have a “70–90% recovery with a meaningful portion of the recovery in digital currencies” while Gemini Earn users…

Crypto Analyst Predicts $45,000 Price Ahead of Halving

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Crypto Michael, a cryptocurrency analyst in the crypto space, has recently shared some insights on the possible market trend of the Bitcoin (BTC) price before the halving commences. These insights were shared in a video uploaded on the analyst’s YouTube channel. Signs Of A Potential Bull Run According to the recent revelations by Crypto Michael, Bitcoin might be on the brink of a new bull run. In his video, which has garnered over 2,000 views on YouTube, the analyst suggests that the cryptocurrency shows considerable resilience and potential for a…

PayPal rolls out crypto ramps, Franklin Templeton joins BTC ETF race, and more

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Without aggressive marketing tactics, fintech giant PayPal is quietly and consistently venturing deeper into the crypto space, rolling out features and building key partnerships to advance its digital assets strategy. This week, PayPal unveiled new on-ramps and off-ramps for cryptocurrencies for its clients in the United States — a noteworthy step for the country, particularly as many crypto firms struggle with supporting fiat-crypto conversions since the United States Securities and Exchange Commission began its controversial crackdown on the industry. Also deepening ties with the crypto ecosystem is the traditional asset…

SEC reverses decision on sealing, redacting some documents in Binance.US case

Observers should soon get a look at least some of the sealed documents in the United States Securities and Exchange Commission’s (SEC) case against Binance. The documents were sealed at the SEC’s request with the agreement of both sides, and are being unsealed at the request of the SEC itself. District of Columbia District Court Magistrate Judge Zia Faruqui issued an order Sept. 15 granting the SEC’s motion to unseal the documents. The order lists 18 sealed documents and another nine partially sealed or redacted documents. Filing of sealed documents…

Holesky Testnet Takes Flight On Merge Anniversary Amidst Ethereum 30-Day Slump

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One year has passed since the Ethereum (ETH) Merge, which marked the integration of Ethereum’s proof-of-stake (PoS) Beacon Chain with the Ethereum Mainnet.  This significant milestone facilitated the transition of the Ethereum blockchain from the legacy proof-of-work (PoW) system to a PoS model, giving rise to Ethereum 2.0. The completion of the Merge on September 15, 2022, brought about a major shift in Ethereum’s energy consumption, with an expected reduction of 99.95%. Additionally, this transition opened up new possibilities for scaling the Ethereum ecosystem. The merge involved migrating the entire…

Sam Bankman-Fried says, ‘I did what I thought was right,’ in leaked docs: Report

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Former FTX CEO Sam Bankman-Fried, facing multiple criminal charges related to alleged misuse of user funds, reportedly denied many of the allegations against him in documents containing a draft of a thread on X (formerly Twitter) that he never posted.  According to a Sept. 14 report from The New York Times, documents provided by crypto influencer Tiffany Fong revealed details about Bankman-Fried’s life while under house arrest as well as his thoughts on the legal team handling FTX’s bankruptcy case. The former CEO, who also goes by SBF, reportedly drafted…

Coinbase CEO stands up for DeFi, Polygon says $1B ZK-rollup paying off: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi saw Coinbase CEO stand up for the nascent ecosystem amid growing calls for enforcement action, while Polygon CEO has said that its $1 billion zero-knowledge proof rollup bet is paying off. MakerDAO’s founder believes decentralized stablecoins could dominate crypto, while Solidus Labs says decentralized exchanges have become a magnet for wash trading. The top 100 DeFi tokens…

Nvidia AI partner Databricks raises $500M to achieve $43B valuation

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Cloud data company Databricks recently announced the completion of a Series I fundraising round where it raked in $500 million from primary investor accounts led by T. Rowe and new investors Capital One Ventures, Ghisallo Capital Management, Ontario Teachers’ Pension Plan and Nvidia. The latest investment round was achieved at a valuation of $43 billion dollars and a share price of $73.50, according to Databricks. In 2021, the company raised $1.6 billion in Series H funding at a valuation of $38 billion. Databricks’ financial partnership with Nvidia indicates an increased…

These Countries Are Picking Shiba Inu Over Dogecoin And Cardano

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Shiba Inu has been constantly garnering favor among crypto investors since its first price surge back in 2021. Even with the price drop over the last year, the meme coin still features as an investor favorite, surpassing the likes of Cardano and Dogecoin in countries with a large crypto investor presence. Shiba Inu Search Surpass Dogecoin And Cardano Google Trends has shown that interest in Shiba Inu has surged ahead of that of Dogecoin in Canada and the United States, as well as Cardano. The data which shows the movements…