According to a Dec. 20 filing with the United States Securities and Exchange Commission, Bitcoin (BTC) miner Greenidge has reached an agreement with its creditor, fintech firm NYDIG, to restructure approximately $74 million worth of debt. The deal, in the form of a non-binding term sheet, would result in a major change to Greenidge’s current business
BNB (BNB), the native token of the Binance crypto exchange, is under threat of undergoing a significant price correction in the coming weeks, based on a mix of technical and fundamental indicators. BNB triangle breakdown continues From a technical perspective, BNB has entered the breakdown stage of its multi-month ascending triangle pattern, a trend continuation indicator.
“I’m Changing My Strategy Towards Crypto Here Is Why” Cathie Wood Latest On Bitcoin & Crypto Cathie Wood and her firm ARK Invest have changed their strategy towards Crypto and urge investors that in Bear Markets and when Prices are down is the best time to be building and launching products in innovation. In her
Before its downfall, crypto exchange FTX and its then-CEO Sam Bankman-Fried had been some of the most prolific spenders in the space, bailing out crypto firms and donating to political campaigns and media outlets. With more than 1 million FTX creditors looking to be made whole, what’s happening with these funds? Bankman-Fried said in May
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It’s been a tough year for crypto, and venture capital activity confirms it. The collapse of FTX in November was the latest and most shocking in a series of closures of key market players this year — including Celsius, Voyager and BlockFi — that have shaken investor sentiment and wiped out $1.5 trillion in market
Crypto-users may one day be able to automatically pay their electricity and telephone bills through their self-custodial crypto wallets, according to payments giant Visa. In a Dec. 20 blog post, Visa’s crypto thought leadership team proposed a solution that would allow providers to automaticall “pull” funds from users’ Ethereum-powered crypto wallets, without requiring the user
Sasha Ivanov, founder and CEO of the Waves blockchain platform, is planning to launch a new stablecoin amid the ongoing crisis of the Waves-backed stablecoin, Neutrino USD (USDN). Ivanov took to Twitter on Dec. 20 to announce the USDN situation resolution plan alongside a new stablecoin project. “I will launch a new stablecoin,” Waves founder
I attempted to spend two weeks travelling in El Salvador living on Bitcoin. I tried to pay for every single thing with Bitcoin, or Satoshis, small amounts of Bitcoin. Spoiler alert, I failed. Outfoxed by car hire companies (fortunately my car of choice was not Fiat); stubborn restauranteurs, a parking meter, pupusas, and a fancy
Busan, the blockchain city of South Korea, has moved a step closer to forming a local crypto exchange, but it has dropped most of the global centralized exchange partners. The drastic decision comes in the wake of the recent colossal failure of centralized exchanges. The city announced the steering committee comprising 18 local blockchain experts
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 off for an extended period of time and had to be shaken awake by
Bankrupt crypto lending platform BlockFi has filed a motion requesting authority from a United States bankruptcy court to allow its users to withdraw digital assets currently locked up in BlockFi wallets. In a motion filed on Dec. 19 with the U.S. Bankruptcy Court in the District of New Jersey, the lender asked the court for
While self-custody is considered the ultimate way to secure one’s funds, many fail to acknowledge the risks associated with physically storing seed phrases. A search conducted by the State Police agency for Nevada ended up making a suspect’s seed phrase public after being picked up by the body cam. A viral video making rounds on
Capitulation literally means concede. In the financial sphere, this term reflects a period of aggressive selling when the last of the bulls concede defeat to become bears themselves. What is crypto market capitulation? Suppose a cryptocurrency drops 30% overnight. An investor is left with two options: they can continue to hold or sell to realize
Bitcoin (BTC) broke below $16,800 on Dec. 16, reaching its lowest level in more than two weeks. More importantly, the movement was a complete turnaround from the momentary excitement that had led to i$18,370 peak on Dec. 14. Curiously, Bitcoin dropped 3.8% in seven days, compared to the S&P 500 Index’s 3.5% decline in the
The crypto industry has been rocked by the collapse of FTX. Big-name investors from Sequoia Capital to SoftBank dumped hundreds of millions of dollars into the company, making bets that are now worthless. Countless individual traders were hit by huge losses, too. Regulators are investigating claims that customer funds were misappropriated by FTX and its
Former FTX CEO Sam Bankman-Fried, currently in the custody of Bahamian authorities, has reportedly agreed to be extradited to the United States to face charges. According to a Dec. 19 report from Reuters, Bankman-Fried’s legal team said it planned to prepare documents to have him reappear before the Bahamas Magistrate Court sometime this week. The
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 outperform.” McGlone’s comments follow his previous prediction that noted bitcoin and ethereum appear to have “completed the bulk of their drawdown.”
Bitcoin (BTC) stayed rigid below $17,000 at the Dec. 19 Wall Street open as skeptical traders feared more downside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC traders call time on upside potential Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering around the $16,700 mark, practically unmoved over the weekend. The pair saw
United States Banking Committee chairman Sherrod Brown has suggested that the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) should perhaps consider a ban on cryptocurrencies. Brown’s comments were made during a Dec. 18 appearance on NBC’s “Meet the Press,” although the senator quickly added that a ban would be difficult to