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Cryptocurrency Winter to Last “At Least One More Year”, Says Octopus Network Founder. – cryptowiky
Octopus Network, a multi-chain cryptocurrency network based on the NEAR protocol, has laid off around 40% of its core team and reduced salaries for the rest due to the ongoing cryptocurrency winter, which will not end for at least another year, according to founder Louis Liu. The list of companies announcing layoffs in the cryptocurrency…
China’s CBDC wallet relies on an age-old custom to increase adoption. – cryptowiky
The digital yuan wallet app now includes a traditional Chinese method of donating money that has gone virtual with the rise of digital payments. China's wallet app for its digital yuan central bank digital currency (CBDC) offered a feature for users to send money in an electronic replica of traditional "red packets" to try to…
Argo Blockchain Sells Bitcoin Mining Facility to Galaxy Digital Holdings in Struggle to Stay Afloat. – cryptowiky
The Bitcoin mining crisis continues as miners continue to sell their facilities. Argo Blockchain saw its shares rise in London trading yesterday after agreeing to sell its Bitcoin mining facility, Helios, to Galaxy Digital Holdings for around $65 million, providing some relief for the struggling company. As part of the deal, Galaxy also agreed to…
Cryptocurrencies on the Rise in Russia in 2023? – cryptowiky
Sanctions and international pressure may be driving the adoption of cryptocurrency in Russia, according to Yuri Myshinsky, the president of the Digital Transformation Association. Myshinsky noted that the country's relationship with cryptocurrencies has been somewhat "contradictory" in the past. However, he believes that the current measures will likely stimulate the growth of the sector. Russian…
Turkish Central Bank Makes First Digital Lira Transactions. – cryptowiky
The Central Bank of the Republic of Turkey (CBRT) has completed its first trial of its central bank digital currency (CBDC), the digital Turkish lira. In a press release on December 29, the central bank stated that, "As part of the first phase of the project, which was conducted under the direction of the [CBRT],…
Dogecoin Foundation Launches New Funding Initiative for Core Developers – cryptowiky
The Dogecoin Foundation has announced a new funding initiative to support the development of the Dogecoin ecosystem. The foundation has allocated 5 million Dogecoin (DOGE), worth approximately $360,000 at the time of writing, to a new multisignature wallet managed by its members. This wallet will require three out of five signatures from Dogecoin Core developers…
MicroStrategy Boosts Bitcoin Holdings with $42.8 Million Purchase. – cryptowiky
MicroStrategy, the company co-founded by Michael Saylor, has announced that it has made further purchases of Bitcoin since November 1st. According to today's report, the company purchased approximately 2,395 bitcoins for a total of approximately $42.8 million in cash. The purchases were made by MicroStrategy LLC, a subsidiary of the company, at an average price…
Former Fuzhou City Communist Party Secretary Admits to Facilitating Illegal Bitcoin Mining Deals – cryptowiky
According to the court, Yi had engaged in illegal business dealings with Bitcoin miners, using his position as a government official to facilitate the transactions and enrich himself. These activities reportedly took place between 2017 and 2021, and it is not clear if they are connected to the corruption charges Yi faced. The court sentenced…
Bitcoin Continues to Struggle with Resistance at $17,000. – cryptowiky
The price of Bitcoin has seen a significant drop this year compared to its all-time high of $69,000 last year, leading to the bear market that has lasted for several months. However, like most assets, Bitcoin goes through cycles and many analysts believe that it could soon climb again. Despite this, Bitcoin is more affected…
Bitcoin Bull Market Unlikely to Return Before 2025, According to Canaccord Genuity. – cryptowiky
The bull market for Bitcoin is unlikely to return before 2025, according to Canaccord Genuity. After three consecutive years of positive returns, Bitcoin (BTC) and cryptocurrency prices have plummeted in 2022. The world's largest digital asset is down about 65% since the beginning of the year (YTD) as central banks have had to respond aggressively…
Dogecoin Foundation Launches New Funding Initiative for Core Developers - cryptowiky
The Dogecoin Foundation has announced a new funding initiative to support the development of the Dogecoin ecosystem. The foundation has allocated 5 million Dogecoin (DOGE), worth approximately $360,000 at the time of writing, to a new multisignature wallet managed by its members. This wallet will require three out of five signatures from Dogecoin Core developers […]
Turkish Central Bank Makes First Digital Lira Transactions. - cryptowiky
The Central Bank of the Republic of Turkey (CBRT) has completed its first trial of its central bank digital currency (CBDC), the digital Turkish lira. In a press release, the CBRT stated that the first payment transactions on the digital Turkish lira network were successfully executed. The CBRT plans to expand the digital Turkish lira collaboration platform to involve selected banks and firms and unveil advanced phases of the pilot study in the coming year. Legal studies have also shown that digital identification is essential for the project.
Cryptocurrencies on the Rise in Russia in 2023? - cryptowiky
Sanctions and international pressure may be driving the adoption of cryptocurrency in Russia, according to Yuri Myshinsky, the president of the Digital Transformation Association. Myshinsky noted that the country's relationship with cryptocurrencies has been somewhat "contradictory" in the past. However, he believes that the current measures will likely stimulate the growth of the sector.
Former Fuzhou City Communist Party Secretary Admits to Facilitating Illegal Bitcoin Mining Deals - cryptowiky
According to the court, Yi had engaged in illegal business dealings with Bitcoin miners, using his position as a government official to facilitate the transactions and enrich himself. These activities reportedly took place between 2017 and 2021, and it is not clear if they are connected to the corruption charges Yi faced. The court sentenced […]
Bitcoin Bull Market Unlikely to Return Before 2025, According to Canaccord Genuity. - cryptowiky
According to analysts at Canaccord Genuity, the bull market for Bitcoin is unlikely to return before 2025. After three consecutive years of positive returns, Bitcoin and cryptocurrency prices have plummeted in 2022 due to central banks responding aggressively to curb inflation and specific negative catalysts for cryptocurrencies, such as the collapse of FTX. Canaccord Genuity predicts a "fairly high probability of recession in 2023" and believes the cryptocurrency market will struggle to recover in the short term. While the analysts remain positive on crypto and Bitcoin in the long term, they acknowledge that it could take around two years before the return of a potential bull market.
MicroStrategy Boosts Bitcoin Holdings with $42.8 Million Purchase. - cryptowiky
MicroStrategy, co-founded by Michael Saylor, has announced the purchase of approximately 2,395 bitcoins for a total of approximately $42.8 million. The company has also revealed that it has increased its holdings of Bitcoin by 2,500, bringing its total to approximately 132,500 bitcoins. This latest purchase underscores the company's commitment to Bitcoin as a long-term investment
Cryptocurrency Winter to Last "At Least One More Year", Says Octopus Network Founder. - cryptowiky
Octopus Network, a multi-chain cryptocurrency network, has laid off 40% of its core team and reduced salaries for the rest due to the ongoing cryptocurrency winter, which will not end for at least another year, according to founder Louis Liu. Other companies in the cryptocurrency industry, such as Amber Group and Koinly, have also announced layoffs due to tough market conditions.
Argo Blockchain Sells Bitcoin Mining Facility to Galaxy Digital Holdings in Struggle to Stay Afloat. - cryptowiky
Argo Blockchain, a London-based company, has agreed to sell its Bitcoin mining facility, Helios, to Galaxy Digital Holdings for around $65 million in an effort to stay afloat amid the ongoing crisis in the cryptocurrency mining industry. The deal also includes a first-rank secured loan of $35 million from Galaxy to Argo, backed by mining equipment collateral. The transactions will reduce Argo's debt by $41 million. The Helios facility, located in Dickens County, Texas, has a capacity of 800 megawatts to power Bitcoin mining operations and employs around forty people. The sale and secured loan provide temporary relief for Argo, but the future remains uncertain in the volatile world of cryptocurrency mining.
China's CBDC wallet relies on an age-old custom to increase adoption. - cryptowiky
The digital yuan wallet app now includes a traditional Chinese method of donating money that has gone virtual with the rise of digital payments. China’s wallet app for its digital yuan central bank digital currency (CBDC) offered a feature for users to send money in an electronic replica of traditional “red packets” to try to […]
Bitcoin Continues to Struggle with Resistance at $17,000. - cryptowiky
The price of Bitcoin has seen a significant drop this year, leading to the bear market that has lasted for several months. However, like most assets, Bitcoin goes through cycles and many analysts believe that it could soon climb again. Despite this, Bitcoin is more affected by traditional markets and events such as the conflict in Ukraine and inflation, unlike in previous years. The next move for Bitcoin will depend on whether it can break through the resistance at $17,000 and reach the $20,000 mark again.
Bill Miller Remains Optimistic About Bitcoin Despite 75% Price Drop. - cryptowiky
Bill Miller is an investor who gained fame by outperforming the S&P 500 every year from 1991 to 2005. Bitcoin has traded around the $17,000 mark since November 2022, representing a nearly 75% drop from its all-time high of $64,000.
BitKeep Cryptocurrency Wallet Loses $8 Million in Attack. - cryptowiky
A recent attack on the BitKeep cryptocurrency wallet has resulted in users losing a total of $8 million in assets, including over 4,000 BNB, 5.4 million USDT, 200,000 DAI, and 1,233 ETH. The source of the attack is unclear, but some users reported being contacted by suspicious accounts on social media platforms such as Twitter, urging them to download the compromised version of the BitKeep wallet. The attackers were able to access and redirect funds to their own wallets once a certain number of downloads were reached. Most of the stolen funds are currently concentrated in a single address belonging to the hackers.
Billionaire Mark Cuban Looking to Buy More Bitcoin on One Condition. - cryptowiky
Mark Cuban, billionaire investor and owner of the Dallas Mavericks basketball team, is considering buying more Bitcoin. However, he has one condition: the price of BTC must drop. In an interview, Cuban expressed his support for Bitcoin and said that he wants to buy more of it because he knows that the cryptocurrency will bounce back.
FTX in Legal Battle Over $440 Million Worth of Robinhood Shares. - cryptowiky
The new leadership of cryptocurrency exchange FTX is engaged in a legal dispute with BlockFi and Sam Bankman-Fried over the acquisition of 56 million Robinhood shares worth $440 million. The shares are currently held by an Antiguan company and could allow FTX to increase its portfolio for the repayment of disadvantaged users. The legal fight is just one of many controversies surrounding the collapse of FTX and it remains to be seen who will come out on top in the battle for the valuable shares.
FTX has petitioned a bankruptcy judge to prevent BlockFi from claiming Robinhood shares. - cryptowiky
The 56 million Robinhood Markets shares are currently valued around $450 million. FTX, the embattled cryptocurrency exchange, has requested the intervention of a US bankruptcy judge to block crypto lending startup BlockFi from recovering approximately $450 million in Robinhood shares purchased by its former CEO Sam Bankman-Fried. BlockFi filed a complaint on November 28 requesting […]
Gary Gensler, President of the SEC, Calls for Regulation of Cryptocurrency Exchanges - cryptowiky
Gary Gensler, President of the Securities and Exchange Commission (SEC), has called for greater regulation of cryptocurrency exchanges, comparing the sector to a "wild west" without legal framework. Gensler expressed his frustration with exchanges that are avoiding regulation and pointed out the lack of transparency of the platforms regarding their financial situation and the absence of separation of funds between different clients. He also stated that most tokens issued by exchanges are similar to financial securities and should therefore follow the relevant legislation. The call for regulation follows the collapse of FTX and the desire of states around the world to review their legal frameworks in the wake of the event.
Will Bitcoin Miss Out on the Year-End Stock Market Rally ? - cryptowiky
The 2022 stock market year has been one of the worst years since 2008. Volatility/volume trading pair is starting to significantly decrease on the stock market. CAC 40 price typically shows its seasonality at the end of December, a statistical fact known as the Christmas rally.
Digital Euro Set to Launch in 2023: ECB Update. - cryptowiky
The ECB published its second report on the feasibility of launching a digital euro. The report includes information on the role of intermediaries, the settlement model, and the distribution model. Since the digital euro is the responsibility of the central bank, the "Eurosystem central banks" would be responsible for settlement.
Caroline Ellison of Alameda and Gary Wang of FTX have been charged with additional fraud. - cryptowiky
The erstwhile entourage of arrested crypto billionaire Sam Bankman-Fried is facing fresh allegations from key US federal organizations. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have filed new fraud allegations against former Alameda Research CEO Caroline Ellison and former FTX co-founder Gary Wang. The SEC and CFTC allegations come […]
Visa is exploring the use of Ethereum for crypto payments. - cryptowiky
Visa is exploring the use of Ethereum for crypto payments, which could allow users to make payments directly from their digital wallets without the need for a bank account. Ethereum's decentralized blockchain technology offers increased security and transparency, as well as resistance to censorship and downtime. In addition, it has the potential to facilitate cross-border transactions more efficiently by streamlining the process and reducing fees. This move marks a significant step in the adoption of blockchain technology for mainstream financial applications.
Sam Bankman-Fried, Founder of FTX, Agrees to Extradition to the US to Face Trial. - cryptowiky
Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, has agreed to be extradited to the United States to face trial on charges of securities fraud, wire fraud, and conspiracy to commit wire fraud. If found guilty, Bankman-Fried could face a maximum sentence of 115 years in prison. The extradition hearing scheduled for February 8 in the Bahamas is expected to be cancelled, and Bankman-Fried is expected to be transported to the US on a private plane on December 21. Bankman-Fried has denied the charges.
Major Bitcoin Mining Company Core Scientific Files for Chapter 11 Bankruptcy Protection. - cryptowiky
Bitcoin mining company Core Scientific has filed for Chapter 11 bankruptcy protection in the US due to debts estimated at over $1 billion. The company, which holds 10% of the global hashrate, had previously warned of its financial difficulties in an October statement to the Securities and Exchange Commission. The Chapter 11 process will allow Core Scientific to restructure and negotiate with creditors in an attempt to continue operations. The filing highlights the risks and importance of financial management in the volatile Bitcoin mining industry.
According to a survey, one-third of singles in the Metaverse are ready to date. - cryptowiky
According to data from a new Dating.com poll, the metaverse can help accelerate dating into the future, particularly as avatars become more reflective of individuals. Online dating has already become a typical occurrence in modern relationships. According to Statista, there will be over 280 million online dating users by 2024. According to statistics from a […]
Binance US Wins Bid to Acquire Troubled Crypto Brokerage Voyager Digital for $1bn. - cryptowiky
Binance US has won the bid to acquire troubled crypto brokerage firm Voyager Digital for $1bn. The deal will see Binance US take over the assets and operations of Voyager, which filed for bankruptcy earlier this year and had its customer payments frozen. The acquisition must be approved by a bankruptcy court hearing on 5 January. Previously, FTX US had expressed interest in acquiring Voyager, but the collapse of Sam Bankman-Fried's cryptocurrency empire made this option no longer feasible. Voyager has faced criticism for providing $675m in loans to speculative fund Three Arrows Capital, which have proved to be uncollectible.
The Impact of Blockchain on the Banking Industry: Streamlining Transactions and Increasing Security - cryptowiky
Blockchain technology has the potential to revolutionize the banking industry by streamlining transactions, reducing costs, and increasing security. By eliminating intermediaries and using cryptographic techniques to secure data, banks can conduct faster and cheaper transactions with reduced risk of fraud. In addition, blockchain can enable banks to serve unbanked or underserved populations and facilitate cross-border payments and trade finance. While there are still challenges to be addressed, such as regulatory hurdles and the need for widespread adoption, the use of blockchain in the banking sector is likely to increase in the coming years.
BNB protection for Binance listing? CZ responds to claims about a delisted project - cryptowiky
While many were unconcerned about the delisting because to its inactivity, others questioned the emphasis on price for delisting, fearing that it would encourage projects to artificially inflate the price. Mithril (MITH), a decentralized social network project, was recently delisted from Binance, and in exchange, the crypto project requested the 200,000 Binance Coin (BNB) […]
Towards a new plunge in Bitcoin (BTC) and Ether (ETH)? Here are the decisive levels to watch out for! - cryptowiky
The price of Bitcoin (BTC) has started to decline once again approaching a solid support near $17,000. Since the beginning of November, Bitcoin has been trading inside a narrow range. The underlying trend is still unmistakably bearish, with high points consistently falling.
Does it seem plausible that Ethereum and Cardano will have "catastrophic implosions like Terra Luna"? - cryptowiky
Ether developers have been attempting to switch from the inefficient proof-of-work (PoW) protocol to the more effective proof of stake protocol. Saylor supports Kratter's assertion that PoS are inherently dangerous due to their fragile architecture. More users will choose to withdraw their coins as the price of Ether declines.
Sam Bankman-Fried faces eight accusers and a possible sentence of more than 100 years in jail. - cryptowiky
Sam Bankman-Fried, the CEO of FTX, was arrested in the Bahamas this week. He is accused of stealing billions of dollars from clients to fund his Alameda Research cryptocurrency fund. If found guilty of each of the charges against him, he might spend more than 100 years in jail.