Bankrupt Bitcoin (BTC) mining firm Core Scientific filed on Jan. 25 an emergency motion seeking to sell Bitmain coupons worth $6.6 million, according to court records. As per the filing, some conditions applied to the coupons make them useless for Core Scientific’s business. Specifically, the coupons can “only be used to pay 30% of any new order of S19 Miners…
gm: Week in Review: Tech Layoffs, Porsche NFTs, Ted Cruz In our January 28, 2023 week in review episode, Dan Roberts, Matthew Diemer, and Kate Irwin talk about more layoffs in crypto and broader tech (including how Google botched its layoffs), the NFT market rebound and Porsche’s NFT drop (fail or surprise success?), Sam Bankman-Fried’s latest claims about FTX US…
The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping services. Limiting Regulatory Arbitrage The United States Federal Reserve Board…
Sam Bankman-Fried, the disgraced co-founder of FTX, is seeking access to crypto assets associated with FTX and Alameda Research, according to a letter written by his attorney, Mark Cohen. Cohen insists that the existing bail conditions “related to crypto asset transfers should be removed.” Bankman-Fried’s Legal Team Argues for Removal of 2 Bail Conditions In a letter to the Southern…
Sam Bankman-Fried’s legal team is seeking to remove a bail condition that prevented him from accessing FTX’s funds, according to court filings from Jan. 28. A letter from Bankman-Fried’s lawyer, Mark Cohen, to United States District Court Judge Lewis Kaplan stated that Bankman-Fried should have access to assets held by FTX, claiming the client was not involved in previous unauthorized…
The blockchain network Litecoin’s computational power reached an all-time high (ATH) on Wednesday, Jan. 25, 2023, at block height 2,411,048, reaching 798.43 terahash per second (TH/s). In addition, Litecoin’s difficulty also reached an all-time high this week, hitting 23,505,031 the following day. Litecoin’s Computational Power Climbs 38% in 30 Days A significant amount of hashrate has been dedicated to the…
Dogecoin rose to a six-week high on Saturday, as prices rose above a key resistance level to start the weekend. The meme coin climbed to its strongest point since December, as the global crypto market cap was mostly in the green in today’s session. Avalanche also surged today, hitting its strongest point since August. Dogecoin (DOGE) Dogecoin (DOGE) was one…
Is crypto lending dead, or does it just need better execution? That’s a question asked with more urgency in the wake of Genesis Global Capital Jan. 19 bankruptcy filing. That, in turn, followed the demise of other prominent crypto lenders, including Celsius Network and Voyager Digital in July 2022, and BlockFi, which filed for Chapter 11 bankruptcy protection in late…
This week in coins. Illustration by Mitchell Preffer for Decrypt. Bitcoin and Ethereum dipped on Friday, dashing hopes for the crypto market’s fourth consecutive week of marketwide gains. But the coins are still off to a much better year in 2023 than they had in 2022. As of Saturday morning, according to CoinGecko price data, Bitcoin (BTC) is flat over…
Bitcoin (BTC) bulls do not need to wait long for the United States to start printing money again, commentators believe. The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative tightening (QT) ending to avoid a “catastrophic debt crisis.” Analyst: Fed will have “no choice” with rate cuts The Federal Reserve continues to remove liquidity…
