Author: boss

Analysts debate the ETH price outcomes of Ethereum’s upcoming Shapella upgrade

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The Ethereum Foundation has announced April 12 as the date of deployment of the much-anticipated Shanghai and Capella upgrade, together dubbed as Shapella. The upgrades will enable withdrawals from Ethereum 2.0 staking contracts. The staking contract was first launched in December 2020. It only accepted one-way deposits of ETH, which will change after the upgrade. To date, users have deposited over 18 million ETH, worth around $32.5 billion, into the Ethereum staking contract at varying times since December 2020. Analysts vary on the estimates of ETH sell pressure Most users…

Former FTX CEO Seeks $10M Insurance Fund for Legal Defense, Request Opposed by FTX Debtors and Unsecured Creditors – Bitcoin News

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Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured Creditors Oppose Sam Bankman-Fried’s Request for D&O Funds Sam Bankman-Fried (SBF), the former CEO of FTX, is seeking access to a $10 million legal insurance fund to cover his defense expenses. The filing notes that…

Bitcoin touches $29K! Why BTC is unaffected by regulatory pressure

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In this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub built on the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Ecosystem. We start things off with our main topic for today: Bitcoin (BTC) touched $29,000, a new high for 2023, despite recent United States regulatory crackdowns on crypto firms and related uncertainty. This could also suggest the crypto market…

Denmark’s supreme court rules bitcoin profits are taxable

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The supreme court of Denmark in a recent judgment ruled that profits obtained from the sale of bitcoin were taxable, with the ruling applying to investors and miners.  Investors and miners are to be taxed for gains on BTC sale  The ruling which was given on March 30, 2023, involved two cases where the court tried to determine if bitcoin profit was a taxable event.  The first case involved a party that got BTC from purchases and donations from a third party. According to the supreme court, the BTC purchase…

3 reasons why Bitcoin bulls are well positioned to profit from this week’s $4.2B options expiry

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Regulation continues to be the primary concern for Bitcoin bulls, especially after the Commodity Futures Trading Commission (CFTC) sued Binance for trading and derivatives law violations. The regulator wants Binance to repay the trading profits, revenues, salaries, commissions, loans and fees it received from US citizens, as well as paying civil penalties for the violations. The increase in Bitcoin’s price was also fueled by a shift in sentiment toward risk assets after the U.S. Federal Reserve Chair Jerome Powell said interest rate hikes are no longer the default move to…

Gnosis launches Hashi bridge aggregator to help prevent hacks

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Gnosis, the team behind Gnosis Safe multi-sig and Gnosis Chain, has launched a hash oracle aggregator for blockchain bridges, according to an announcement from the company. In a conversation with Cointelegraph, Gnosis CEO Martin Köppelmann stated that the new aggregator should make bridges more secure by requiring more than one bridge to validate a withdrawal before it can be confirmed. Multiple bridge protocols have already committed to integrating with Hashi, including Succinct Labs, DendrETH, ZK Collective, Connext, Celer, LayerZero, Axiom, Wormhole and LI.FI, according to the announcement.  Over $2 billion…

Visa and Fold expand bitcoin rewards program together

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Visa and Fold are set to expand their joint rewards program to Latin America, Europe, and Asia Pacific, providing millions of users the opportunity to earn bitcoin on everyday purchases. Visa, the global payment processing giant, and Fold, a bitcoin rewards app, have announced their plans to broaden their existing partnership. The expansion aims to bring their joint rewards program to new regions, offering users more opportunities to earn bitcoin through everyday purchases. The Visa-Fold partnership was designed to allow Fold card users to earn bitcoin rewards for their everyday…

Terra co-founder Do Kwon’s jail time in Montenegro will be harsh: Report

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Do Kwon, currently in custody in Montenegro and potentially awaiting extradition to the United States or South Korea, will reportedly face harsh conditions in the country’s penal system. According to a March 29 Protos report, an unnamed criminal defense lawyer said conditions at Montenegro’s jails and prisons “haven’t changed” from those described in a 2020 human rights report from the U.S. State Department. The report cited a case in which prison officers had been convicted of torturing and “inflicting grievous bodily harm” on 11 inmates in 2015, as well as…

TUSD Jumps 110% While Others Experience Reductions – Altcoins Bitcoin News

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Four stablecoins have reduced their supplies this month, while the stablecoin token TrueUSD (TUSD) has seen its supply jump 110% higher over the last 30 days. TUSD resides natively on four different blockchains. The number of Ethereum-based TUSD rose 27%, while the number of Tron-based TUSD stablecoins increased by 218%. TUSD Supply Swells, Tron-Issued Stablecoins Rise 218% In the past month, several stablecoins experienced supply reductions, including usd coin (USDC), binance coin (BUSD), gemini dollar (GUSD), and USDD. Gemini’s GUSD led the pack with a 30.5% redemption rate over the…