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Dec 21, 2022 9:30 AM (2 years ago)

Core Scientific Files for Bankruptcy Protection, Firm Plans to Continue Mining Bitcoin to Pay Down Debt

On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000…
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Dec 21, 2022 6:30 AM (2 years ago)

Spain Will Provide 8 Million Euros in Grants to Develop Video Game and Metaverse Experiences

The Ministry of Culture and Sports of Spain has decided to direct 8 million euros ($8.5 million) toward the development of video games and narrative metaverse experiences. The program, part of the Spanish “Recovery, Transformation, and…
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Dec 21, 2022 4:30 AM (2 years ago)

Three Countries Account for Nearly Two-Thirds of Africa’s Crypto Holders — Study

According to a new study, out of the estimated 55.3 million cryptocurrency holders that are spread among 33 African countries, three countries — Nigeria, South Africa, and Kenya — account for approximately 36.14 million or nearly two-thirds of this…
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Dec 21, 2022 1:30 AM (2 years ago)

BTC-e’s Alexander Vinnik Applies for Release on Bail Citing Trial Delay

The alleged operator of crypto exchange BTC-e, Alexander Vinnik, has asked to be released on bail due to the delay in court proceedings. In early August, the Russian IT specialist was extradited to the United States to face charges of money…
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Dec 20, 2022 11:30 PM (2 years ago)

Payments Giant Visa Proposes Using Ethereum L2 Starknet to Bolster Auto Payments for Self-Custodial Wallets

Visa, the financial services corporation headquartered in San Francisco, California, published a blog post that talks about leveraging ethereum and the layer two (L2) scaling solution Starknet so people with self-custodial wallets can pay their…
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Dec 20, 2022 9:30 PM (2 years ago)

Economist Peter Schiff Warns Bitcoin May Not Rise When Other Financial Assets Rebound

Gold bug and economist Peter Schiff has warned that the price of bitcoin may not rise when other financial assets rebound, even though the crypto fell alongside them. “The bitcoin bubble popped and collectors will be selling no matter what…
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Dec 20, 2022 7:30 PM (2 years ago)

US Lawmaker Suggests ‘Maybe’ Crypto Should Be Banned Citing Bigger Issues Than FTX

A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how…
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Dec 20, 2022 5:30 PM (2 years ago)

Bank of Russia to Test International Crypto Payments With Companies

The Central Bank of Russia plans to use cryptocurrency for cross-border payments in trials with private companies, a member of its top management has revealed. The testing will be conducted under a special legal regime that’s currently under…
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Dec 20, 2022 4:00 PM (2 years ago)

Bitcoin.com Games Reveals Top Slots of 2022, Players to Get 50 Free Rounds Every Day for Christmas

Bitcoin.com Games to reward free rounds every day to all players until December 31st in Hot Slots of Christmas! It’s the holiday season and Bitcoin.com Games has begun unraveling sweet gifts for all its players in the newly launched Hot Slots…
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Dec 20, 2022 2:30 PM (2 years ago)

Bitcoin Miner Greenidge Enters Non-Binding Debt Restructuring Deal With NYDIG

The bitcoin mining operation Greenidge Generation Holdings Inc. has executed a restructuring deal with NYDIG, according to an announcement published on Tuesday. According to the non-binding term sheet agreement, NYDIG will obtain 2.8 exahash per…
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Dec 20, 2022 12:30 PM (2 years ago)

FTT Breaks $1 Support for the First Time Since FTX Collapsed, Token Struggles With Dwindling Trade Volume

Despite FTX’s collapse last month, the trading platform’s crypto token FTT had managed to not plummet all the way down to zero, and surprisingly it hovered below the $2 per unit region after Nov. 12, 2022. For 38 days FTT remained above the $1 per…
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Dec 20, 2022 9:30 AM (2 years ago)

Bank of Japan’s Kuroda Shocks Markets by Raising the Benchmark Rate to 0.5% From 0.25%

The Japanese yen is up 3.42% against the U.S. dollar on Tuesday as the Bank of Japan surprised the world by deciding to allow the benchmark interest rate to rise to 0.5% from 0.25%. The Japanese central bank was one of the only banks worldwide to…
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Dec 20, 2022 6:30 AM (2 years ago)

Report: Nigerian Lawmakers Set to Pass Law That Diminishes Central Bank Influence on Crypto

Nigeria is expected to designate cryptocurrency as capital for investment if the country’s House of Representatives votes to approve a bill that seeks to amend the Investments and Securities Act of 2007, a report has said. A Nigerian…
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Dec 20, 2022 3:30 AM (2 years ago)

‘Visibly Shaking’ FTX Co-Founder Hammers out a ‘Wasted Day’ in Court as Bahamian, US Legal Team Prep for Extradition

FTX co-founder Sam Bankman-Fried (SBF) had a difficult day in court on Monday according to a number of accounts that said SBF’s local attorney seemed to be in conflict with his U.S. legal team. Furthermore, courtroom reports noted that SBF dozed…
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Dec 20, 2022 1:30 AM (2 years ago)

Meta VR Consultant John Carmack Leaves Company; Criticizes Inefficiencies of VR and Metaverse Projects

John Carmack, the founder of renowned company ID Software and executive consultant on VR for Meta, has announced he is leaving Meta. Among the reasons for this departure, Carmack signals that there are inefficiencies and self-sabotage at Meta that…
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Dec 19, 2022 10:30 PM (2 years ago)

Indian Government Updates Parliament on Cryptocurrency Bill and Investigations of Crypto Exchanges

The government of India has provided some updates on its cryptocurrency bill and investigations of crypto exchanges in Lok Sabha, the lower house of India’s parliament. “Crypto assets are by definition borderless and require…
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Dec 19, 2022 7:30 PM (2 years ago)

Elon Musk Promises to Step Down as Head of Twitter — Edward Snowden Throws His Name in the Hat for CEO

Tesla CEO and Twitter chief Elon Musk has promised to step down as head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, stating that he takes payment in…
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Dec 19, 2022 5:30 PM (2 years ago)

Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings

On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a…
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Dec 19, 2022 3:30 PM (2 years ago)

Commodity Analyst Mike McGlone Suggests ‘Bitcoin Appears Poised to Resume Its Inclination to Outperform’

Bloomberg Intelligence senior commodity analyst, Mike McGlone, believes a “warm spell” is coming in terms of bitcoin markets as the market strategist detailed on Monday that “bitcoin appears poised to resume its inclination to…
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Dec 19, 2022 1:30 PM (2 years ago)

SHIB Community Members and Countdown Clock Hint Shibarium Launch Is Imminent

According to a myriad of social media posts, the meme crypto project Shiba Inu is planning to launch the highly anticipated Shibarium, a layer two (L2) project that was supposed to launch this year in the third quarter. Shiba Inu supporters believe…
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Dec 19, 2022 11:30 AM (2 years ago)

Binance US Plans to Acquire Voyager Digital’s Assets for $1 Billion in Bankruptcy Bid

According to a Binance blog post, Binance US has entered an agreement with Voyager Digital Ltd., in order to acquire its assets. The announcement details that the acquisition “sets a clear path forward for Voyager customers’ funds to be unlocked as…
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Dec 19, 2022 9:30 AM (2 years ago)

Basel Committee Finalizes Rules for Bank Exposure to Cryptocurrency Assets

The Basel Committee, the organization in charge of setting global bank standards, has finalized its new rules related to banks and cryptocurrency exposure. The document establishes two different crypto asset classes, including tokenized real assets…
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