The bankrupt crypto exchange wants to sell off its billions of dollars in crypto before returning funds to creditors – but doesn’t want markets forewarned Source
FTX Tweaks Crypto Sale Proposal to Placate U.S. Government
Tag: Proposal
Debate reignites over years-old Bitcoin Drivechain proposal
A debate has reignited among Bitcoiners over a six-year-old Bitcoin Improvement Proposal (BIP) to add “sidechains” on top of the network, with some warning it could increase scams on the Bitcoin network and others saying it will bring new users of the cryptocurrency. Meanwhile, one developer claims to have found a way to achieve the proposal’s goal without a soft fork of the blockchain. The proposal in question, BIP-300 — also known as Bitcoin (BTC) Drivechains — was first introduced in 2017, which proposed introducing “sidechains” that are separate blockchains…
Terra Classic Game-Changing Proposal: What’s In Store For LUNC’s Future?
Terra Classic (LUNC) has taken a decisive action in a bid to tackle the rising tide of spam proposals flooding its blockchain. The project recently submitted a groundbreaking proposal aimed at altering some fundamental aspects of its ecosystem to mitigate the incessant spam proposals that have been plaguing it. The Terra Classic community hopes that this move will help restore order and efficiency to its blockchain. One of the most significant changes proposed is the substantial increase in the minimum deposit required for submitting proposals. In response to the dwindling…
Sweeping Tax Proposal From U.S. Treasury Department Met With Boos From Crypto World
“The crypto ecosystem is very different from that of traditional assets, so the rules must be tailored accordingly and not capture ecosystem participants that don’t have a pathway to compliance,” said Kristin Smith, CEO of the Blockchain Association, in a statement shortly after the proposal emerged. Source
U.S. Crypto Tax Proposal Lets Miners off the Hook, Snares ‘Some’ Decentralized Exchanges
The Treasury Department published a nearly 300-page proposed rule on Friday in response to the 2021 Infrastructure Investment and Jobs Act saying centralized crypto exchanges, payment processors, some hosted wallet providers, some decentralized exchanges and people or entities that redeem crypto tokens they created will be bound to those reporting obligations. Moreover, Treasury unveiled a new custom tax form – the 1099-DA – that these brokers can file, resolving longstanding confusion over whether different versions of the U.S. tax form make the most sense for taxpayers. Source
FTX’s Debtors Revise Settlement Proposal After Objection From U.S. Trustee
Despite criticizing the U.S. Trustee as the “sole objector to the Motion” seeking to “inject itself into a routine settlement process that is already adequately safeguarded by two different creditor committees,” the debtors motion said it was proposing revisions in an effort to address the concerns. Source
SEC delays Bitcoin ETF proposal, seeks public input
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC has postponed its decision on the Ark Invest & 21Shares Bitcoin ETF proposal as it’s soliciting feedback from the public. The recent actions of the Securities and Exchange Commission (SEC) towards the spot Bitcoin (BTC) ETF proposal by Ark Invest and 21Shares have garnered significant attention. Contrary to widespread anticipation, the SEC did not deliver a clear verdict – neither an approval nor a rejection. As revealed in their official documentation, the SEC has…
SEC punts on ARK 21Shares spot Bitcoin ETF, opens proposal to comments
The United States Securities and Exchange Commission (SEC) has delayed a decision on approving or disapproving the spot Bitcoin (BTC) exchange-traded fund proposed by ARK Investment Management. In an Aug. 11 notice, the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the latest delay for the regulator determining whether to approve or disapprove of a spot crypto ETF in the United States. ARK originally filed to list the ETF in May, giving the SEC a maximum of…
Terra Luna Token Burn Proposal Greenlit: Could $1 Be Hittable?
Terra Luna has seen the successful approval of community proposals 11658 and 11660, authorizing the retrieval and subsequent incineration of a total of 800 million USTC. The prevailing sentiment within the community leans towards directing these USTC tokens towards the burn address as opposed to reintegrating them into the community pool. Conversely, a noteworthy shift has been detected in LUNC’s staking ratio within the past day, where a previous upward trajectory has now given way to a decline. This alteration in the staking ratio commonly signifies reduced assurance among stakers…
FTX’s Draft Reorganization Plan Offers Hope for Recovery with Offshore Exchange Proposal
FTX, the beleaguered cryptocurrency exchange, has filed a draft plan of reorganization. According to the proposal submitted on Monday, FTX aims to create a “rebooted” offshore exchange accessible only to non-U.S. users. The plan seeks to categorize claimants into distinct groups, with FTX.com offshore exchange users referred to as “dotcom customers,” while FTX US users are labeled “U.S. customers,” media reports said. Under this proposal, each holder of a dotcom customer entitlement will be entitled to a pro-rata share of the proceeds from a pool of assets linked to the FTX.com…