Voyager Digital Holdings’ committee of unsecured creditors has filed a motion to object to the firm’s proposal to keep its employees by paying them monetary awards for staying in the company. On August 2, Voyager Digital filed a motion to the United States Bankruptcy Court in the Southern District of New York to approve the
Stablecoin issuers like Tether (USDT) and Circle have accumulated a significant share in the United States Treasury market, outperforming major traditional finance players. Various stablecoin providers collectively held $80 billion worth of short-term U.S. government debt as of May 2022, according to a study by the investment bank JPMorgan released on Aug. 16. Tether, Circle
The average transaction fees on the Bitcoin (BTC) blockchain fell below $1.00 for the first time in over two years, further strengthening its use case as a viable mainstream financial system. High transaction fees over blockchain networks work against the users, especially when making low-value transactions. For example, transaction fees over the Ethereum blockchain skyrocketed several
Three months after being elected into power, the Australian Labor Party (ALP) has finally broken its silence on how it’s planning to approach crypto regulation. Treasurer Jim Chalmers announced a “token mapping” exercise, which was one of the 12 recommendations in a senate inquiry report last year on “Australia as a Technology and Financial Center.”
The upcoming consensus change that Ethereum, the second largest cryptocurrency by market cap, is planning to execute in September has worried many users about the possibility of censorship happening at a protocol level. This means that, even by interacting directly with smart contracts, blacklisted addresses would not be able to transact or operate in the
The hackers behind the $625 million Ronin bridge attack in March have since transferred most of their funds from ETH into BTC using renBTC and Bitcoin privacy tools Blender and ChipMixer. The hacker’s activity has been tracked by on-chain investigator ‘₿liteZero’, who works for SlowMist and contributed to the company’s 2022 Mid-Year Blockchain Security report.
After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what had caused the short-term liquidity problem and assured users that it had been resolved. On Thursday, HUSD started to fall from its dollar value, trading at $0.92 at the start of the day and falling as low as $0.82 a few hours later.
The S&P 500 ended its four-week-long recovery last week after minutes from the Federal Reserve’s July meeting hinted that the central bank’s rate hikes will continue until inflation is under control. Members of the Fed said there was no evidence that inflation pressures appear be easing. Another dampener was the statement by St. Louis Fed
The crypto market registered a major slump on Friday, resulting in major cryptocurrencies losing key support and falling to new monthly lows after a prolonged bullish surge over the past month. Bitcoin (BTC), which was looking to break through the $25,000 resistance level last week, fell below $22,000 to register a new two-week low of
Pudgy Penguins’ strength in the bear market depths could indicate the collection’s blue-chip potential. The NFT collection has increased approximately 400% over the past 24 hours, according to Opensea data. Pudgy Penguins’ NFT collection has seen its share of ups and downs since the release of its collection in June 2021. The NFT project holders
The Federal Deposit Insurance Corporation (FDIC) has issued cease and desist letters to five companies for allegedly making false representations about deposit insurance related to cryptocurrencies. FDIC issued a Friday press release disclosing cease and desist letters for cryptocurrency exchange FTX US and websites SmartAssets, FDICCrypto, Cryptonews and Cryptosec. In the letters, which were issued
Gold bug and economist Peter Schiff has warned that the seeming ease in inflation for the United States economy is nothing to get too excited about, as Shark Tank star billionaire Mark Cuban is facing a class action lawsuit for allegedly promoting a “massive Ponzi scheme.” In other news, JPMorgan CEO Jamie Dimon thinks “something
One of the most substantial value propositions of Bitcoin (BTC) is that no one can create more of it apart from its fixed supply. However, an executive from a crypto exchange made a bold claim that some exchanges can create and sell BTC that’s only in their system, not on the blockchain, to manipulate the
Taking payment in Ethereum brings in a gamut of advantages for both users and entrepreneurs. Transitioning to a blockchain-based ecosystem brings in a string of advantages for users as well as entrepreneurs. Here is a drop-down detailing why accepting payment in Ethereum works well for the customers of an enterprise: Additional payment option In a
FTX has reportedly begun blocking accounts that have sent coins through zk.money, a private layer-2 chain provided by the Aztec Network on Ethereum. According to Twitter users, FTX has identified the DApp as a mixer — a service it deems a “high-risk activity” prohibited by the exchange. Reports of blocked transactions on FTX began appearing
Bitcoin (BTC) recovered modestly on Aug. 20 but remained on course to log its worst weekly performance in the last two months. Bitcoin hash ribbons flash bottom signal On the daily chart, BTC’s price climbed 2.58% to $21,372 per token but was still down by nearly 14.5% week-to-date, its worst weekly returns since mid August.