Voyager Digital has preferred not sue its top executives for incompetence, in spite of their role in approving a huge loan to Three Arrows Capital (3AC) without adequate due diligence. That loan was a key element leading to Voyager Digital’s bankruptcy. Court papers filed Oct. 17 show that a Voyager Digital internal special committee has proposed that CEO Stephen Ehrlich…
According to Yuga Labs, the future of NFTs is in gaming. Bored Ape Yacht Club and Yuga Labs co-founders Wylie Aronow and Greg Solano—also known by their internet aliases Gordon Goner and Garga—shared their vision for Yuga’s “Otherside” metaverse game in an interview with Decrypt on the gm podcast. In short, they’re betting big on video games with NFT assets—but…
Flipkart, the Walmart-backed Indian e-commerce giant, has launched a pilot to allow its customers to experience making purchases in a metaverse environment. The company announced the launch of its own metaverse, called Flipverse, in which several brands will be able to offer their own shopping experiences. Flipkart to Launch Flipverse: A Metaverse of Purchases Flipkart, one of the biggest India-based…
On Tuesday, Silvergate Capital, a crypto-fiat gateway network designed for financial institutions, announced its financial results for Q3 2022. The bank, known for services such as processing consumer fiat deposits to cryptocurrency exchanges, saw transfer volume on the Silvergate Exchange Network plummet close to $50 billion compared to Q3 2021. Silvergate handled $112.6 billion of such transfers in Q3 2022. …
Bitcoin’s (BTC) lack of volatility has been the dominant discussion point among traders for the past two weeks and the current sideways trading within the $18,000 to $25,000 range has been in effect for 126 days. A majority of traders agree that a significant price move is imminent, but exactly what are they basing this thesis on? Let’s take a…
Since 1955 Guinness World Records (GWR) has published a reference book annually that covers world records from extreme natural events to human achievements. This year, Bitcoin has entered the fray as the world’s first and most valuable cryptocurrency network as GWR has added the subject to this year’s annual records. Satoshi Nakamoto’s Bitcoin Enters the Guinness Book of World Records…
Bitcoin miners and hosting companies staying afloat in this market have had to venture outside the blockchain industry. At current prices and Bitcoin network difficulty, only Bitcoin miners with the newest, most efficient rigs and very competitive power rates are able to break even. That is, if they’re only relying on Bitcoin mining for their revenue. The firms keeping their…
Cryptocurrency mining involves using a computer, or several computers, to validate transactions on a blockchain. Technically, these computers solve cryptographic equations and record data in a digital ledger. The more computers solving equations, the faster the blockchain can validate transactions. When miners verify the hashes of unconfirmed blocks, they receive a reward for each verified hash. Mining can be energy…
The European Union (EU) released a package of documents Oct. 18 relating to an action plan for implementing the European Green Deal and the REPowerEU Plan, both of which are aimed at energy savings by digitalizing the energy sector. The European energy planners have cryptocurrency in their sights along with myriad other energy users. The REPowerEU Plan was announced in…
Since the cryptocurrency launched ethereumpow (ETHW) has seen spot market prices decline by close to 12% during the last seven days. Despite the fact that during the last two weeks ETHW has shed 35% in USD value, the network’s token economy and decentralized finance (defi) ecosystem has swelled. ETHW Spot Market Prices Slide, While the Network’s Total Value Locked in…
