Tag: News

Paraguayan Cryptocurrency Law Shelved After Presidential Veto – Regulation Bitcoin News

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The cryptocurrency and mining law that the Paraguayan Congress passed in June was finally shelved on Dec. 5. The document, which sought to bring order to crypto mining and exchange activities in Paraguay, was ultimately dropped after failing to obtain the votes needed to reject the presidential veto it received. Paraguayan Crypto Law Dropped After Support Wanes The Paraguayan cryptocurrency law that was introduced in Congress in 2021 was finally shelved after not receiving the support it needed in the Deputy Chamber. The project, which was vetoed in September by…

Kevin O’Leary Reveals FTX Paid Him $15 Million to Become a Spokesperson for the Exchange – Featured Bitcoin News

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Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that the collapsed crypto exchange FTX paid him about $15 million to become its spokesperson. “I put about $9.7 million into crypto. I think that’s what I lost. I don’t know. It’s all at zero,” O’Leary said. Kevin O’Leary Was Paid $15M by FTX Shark Tank star Kevin O’Leary revealed in an interview with CNBC Thursday that the collapsed crypto exchange FTX paid him about $15 million last year to become its spokesperson. Noting that he fell prey to “groupthink,”…

US Senator Calls Sam Bankman-Fried to Answer for Failure of FTX and Alameda Research – Bitcoin News

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Two congressional hearings will be held next week on the collapse of cryptocurrency exchange FTX and U.S. lawmakers have asked former FTX CEO Sam Bankman-Fried (SBF) to testify. As the founder of FTX and Alameda Research, “you must answer for the failure of both entities that was caused, at least in part, by the clear misuse of client funds and wiped out billions of dollars owed to over a million creditors,” Senator Sherrod Brown told Bankman-Fried. 2 Congressional Hearings on FTX Set for Next Week The House Committee on Financial…

‘Wolf of Wall Street’ Jordan Belfort Expects Bitcoin and Ethereum to Be ‘Substantially Higher’ Despite FTX Collapse – Markets and Prices Bitcoin News

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Jordan Belfort, aka the Wolf of Wall Street, expects bitcoin and ethereum to be “a lot higher” than they are now. Noting that the collapsed crypto exchange FTX is a scam, he stressed that its implosion “doesn’t mean that you can disregard bitcoin completely and say it’s worthless or going to zero.” The Wolf of Wall Street Calls FTX a Scam Jordan Belfort, a former stockbroker whose memoir was adapted into a film called “The Wolf of Wall Street,” shared some recommendations about bitcoin and ethereum in a video posted…

FTX-Hosted NFTs Point to Broken Metadata, Issue Illuminates Flaws With NFTs Tied to Centralized Clouds – Bitcoin News

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On Wednesday, non-fungible token (NFT) supporters discovered that NFT metadata hosted on the platform FTX US points to broken metadata, and the links now point to FTX’s restructuring website. Specific collections that were minted on the Solana blockchain via the FTX US NFT platform do not show the NFT’s imagery and marketplace listings on the Coachella NFT marketplace have disappeared. FTX US-Hosted NFTs Redirect Metadata to FTX’s Restructuring Page This week owners of FTX US-hosted NFTs are discovering they can no longer see their NFT’s imagery or animations, as NFTs…

FTX’s Odd Relationship With Vertical Farming Firms — A Look at Exchange Boss Ryan Salame’s and Bahamian PM Philip Davis’ Trip to 80 Acres – Bitcoin News

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After discovering that ten holding firms associated with FTX Digital and Alameda Research invested roughly $5.4 billion into nearly 500 firms and projects, people have been curious about a few specific investments. One specific investment made by FTX Ventures Ltd. was for $25 million into the Ohio-based firm 80 Acres, a company that specializes in vertical farming. It seems that 80 Acres Farms was partnered with a Bahamian hydroponic producer called Eeden Farms, and Ryan Salame, the co-chief executive officer of FTX Digital Markets, toured 80 Acres farm in Ohio…

Alameda-Funded Ren Tells Users to ‘Bridge Back to Native Chains’ as It Sunsets 1.0 Platform – Bitcoin News

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According to the team behind the open protocol Ren, developers are winding down the Ren 1.0 network following the FTX and Alameda Research collapse. Last year, under previous Ren leadership, Alameda acquired Ren and was funding development every quarter. On Dec. 7, 2022, Ren developers warned Ren 1.0 and 2.0 compatibility “cannot be guaranteed” and Ren users should bridge back to their native chains. Alameda-Backed Ren Warns of Losses Tied to Ren 1.0 Platform, Suggests Users Bridge Back to Native Chains as Soon as Possible The current team behind the…

LTC, ATOM Extend Declines, Hitting 10-Day Lows  – Market Updates Bitcoin News

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Litecoin fell for a third consecutive session on Thursday, as the token continued to move away from recent highs. Cryptocurrencies have been mostly lower in recent days, as traders continue to fear a global recession. Cosmos also remained in the red during today’s session. Litecoin (LTC) Litecoin (LTC) dropped to a ten-day low on Thursday, with the token falling for a third straight session. Following a high of $79.20 on Wednesday, LTC/USD moved to a low of $74.82 earlier in the day’s session. As a result of this, the token…

Drones, Fertility, and Defi — A Look at Alameda Research’s Massive $5.4 Billion Portfolio of Investments – Bitcoin News

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Over the last few weeks, there’s been a lot of information revealed surrounding the recent FTX and Alameda Research disaster. On Dec. 6, the Financial Times (FT) published documentation that shows Alameda’s investment portfolio, which alleges the company spent more than $5 billion on hundreds of investments. Some of the funds went to odd investments like a fertility company called Ivy Natal and a drone manufacturer called Brinc Drones. Alameda Invested in Close to 500 Firms and Projects During the last two years, FTX and Alameda Research spent billions on…

BTC Nears 10-Day Low, as Bears Regain Market Sentiment – Market Updates Bitcoin News

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Bitcoin continued to slip on Thursday, with the coin remaining close to its lowest level since the end of November. Momentum in cryptocurrency markets has shifted in recent days, with sentiment currently bearish. Ethereum was also lower, with the token dropping towards $1,200. Bitcoin Bitcoin (BTC) remained near a one-week low on Thursday, as cryptocurrencies continued to trade in the red. BTC/USD slipped to a bottom of $16,750.56 earlier in the day, less than 24 hours after trading at a high of $17,061.48. The move saw the world’s largest cryptocurrency…