The Chamber of Deputies, the lower house of Paraguay’s bicameral legislature, failed to move forward on a bill aimed at promoting crypto mining through the use of surplus electricity following a veto from President Mario Abdo Benítez. In a Dec. 5 session, members of Paraguay’s legislature discussed the pros and cons of incentivizing crypto miners to operate in the country…
Crypto winter is not the only thing hitting tokens hard right now. There’s also the World Cup. Soccer tokens took another hit today as the Spain National Football Team Fan Token (SNFT) crashed 42% from $0.09 per coin down to $0.03 after the team’s defeat 3-0 in extra time to Morocco in the FIFA World Cup, according to data from…
On Dec. 4, 2022, a report details that FTX-based synthetic stocks may have been used to manipulate the value of AMC shares. In May 2021, FTX offered 36 tokenized stocks but speculators believe it’s questionable whether or not the firm actually held the real stocks in the first place. FTX Listed 36 Synthetic Stocks and Minted Hundreds of Thousands of…
Paraguay’s plans to regulate the crypto mining industry have come to a screeching halt after lawmakers nixed the country’s “Crypto Law” on Monday. The bill, which was set to create a tax and regulatory framework for crypto mining in the country, was yesterday shelved by politicians after months of toing and froing. It had already been vetoed in August when President…
Binance CEO Changpeng “CZ” Zhao wants you to know that he’s not one of the “bad guys.” The crypto executive has taken to Twitter yet again to share his latest take on the FTX crisis and collapse, this time addressing five different “narratives” that he says are “wrong” in a thread published Tuesday. He clarified his stance on what he…
Subpoenas are on the way to Three Arrows Capital co-founders Kyle Davies and Su Zhu, along with the rest of the crypto hedge fund’s leadership, as liquidators now have permission to demand communications, documents, and financial records related to the bankrupt firm. The judge presiding over the bankruptcy proceedings signed the order to approve the subpoenas on Tuesday morning. Liquidators…
E-commerce and interactive platform builder LGND.io has announced a multi-year partnership with blockchain network developer Polygon and global entertainment company Warner Music Group to create a Web3 music platform called LGND Music. LGND Music, scheduled to launch in January 2023, is designed to be a music and collectibles platform that supports “digital collectibles from any blockchain in a proprietary player,”…
After a whirlwind November for Bitcoin (BTC), certain on-chain and Bitcoin price metrics are suggesting that BTC’s bottom could occur in December. In Capriole Investments’ latest report, they provide analysis on Bitcoin finding the bottom. When taking into realized value, miner capitulation, mining electrical costs, downdraw and record hodler numbers, a BTC floor of $16,600 – $16,950 seems formed. Here…
Following the collapse of FTX at the beginning of November, two top executives from FTX and Alameda Research — Sam Bankman-Fried and Caroline Ellison — have been listed among traders with the top trading losses worldwide on Wikipedia. According to the Wiki page, Bankman-Fried’s and Ellison’s so-called ‘trading loss’ of 51 billion nominal U.S. dollars is at the top of…
The international monitoring body Financial Stability Board, or FSB, called for a global framework aimed at regulating and supervising crypto in the wake of FTX’s collapse, also saying it would assess vulnerabilities associated with decentralized finance. In a Dec. 6 meeting in Basel, the FSB said it planned to “enhance its crypto-assets monitoring framework” to include “DeFi-specific vulnerability indicators” as…
