Day: September 22, 2022

CoinFLEX Invites Creditors to Take the Biggest Part of Them

CoinFLEX Invites Creditors to Take the Biggest Part of Them

CoinFLEX has proposed a restructuring plan that would see creditors own 65% of the company. The plan, which faces a vote next week, would result in series A shareholders losing their stake in the company. Series B holders would do rather better, retaining their stake in the company as well as future equity. The company …

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Metaverse land trading volume drops 98% from its peak in 2021

Metaverse land trading volume drops 98% from its peak in 2021

After unprecedented growth in 2021, trading volume for virtual land in the metaverse has plunged alongside the wider crypto market price collapse. Indeed, virtual trading volume tracking sales for 18 metaverse virtual land projects plunged by about 98% from 2021’s high as of September 12, 2022. The volume peaked in November 2021 at slightly above $8 million, according to Delphi Digital data published …

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South Korean gov has confiscated 260B KWR in crypto for non-payment of taxes since 2021

The country began seizing crypto to offset tax arrears last year. NEWS   According to local news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies in the past two years due to tax arrears. The country’s politicians enacted regulations allowing for the seizure of digital currencies for …

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Algorand Price Prediction: Up 10% to $0.35, Can ALGO Get Back Above $1.00?

ALGO, the native token for the Algorand blockchain, has marked significant gains over the past few days, despite the bearish crypto market trend. Are these gains merely a consolidation before a further downward push, or could ALGO be ready for a massive bull run? ALGO Price Action Over the past week, cryptos have experienced significant …

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Coinbase denies The Wall Street Journal’s proprietary trading allegations

Coinbase denies The Wall Street Journal’s proprietary trading allegations

Coinbase has denied allegations from The Wall Street Journal that it engaged in proprietary trading. The exchange said Sept. 22 that the WSJ  had confused its client-driven activities with proprietary trading. Proprietary trading allegation The Journal reported earlier on Sept. 22 that Coinbase created a trading group that used $100 million of the company funds to trade cryptocurrencies. According to the report, the …

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Billionaire Mike Novogratz Explains When We Will ‘See a Big, Big Rally in Crypto’

Billionaire Mike Novogratz Explains When We Will ‘See a Big, Big Rally in Crypto’

On Tuesday (September 20), billionaire investor Mike Novogratz was asked to share his thoughts on the crypto market. Former hedge fund manager Novogratz is the Founder and CEO of Galaxy Digital, “a technology-driven financial services and investment management firm that provides institutions and direct clients with a full suite of financial solutions spanning the digital assets ecosystem.” Novogratz’s comments …

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Helium Foundation announces migration to Solana following community vote

Helium Foundation announces migration to Solana following community vote

QUICK TAKE The Helium Foundation has announced Helium Network’s migration to the Solana blockchain following a community vote. Helium has run on its own blockchain since its inception in 2019 but will now migrate to Solana to scale to meet the demands of builders and users. The Helium Foundation has announced the migration of the Helium Network, …

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Opera Crypto Browser Integrates Elrond, Blockdaemon Partners With a Banking Giant, KuCoin Going Glocal + More News

Opera Crypto Browser Integrates Elrond, Blockdaemon Partners With a Banking Giant, KuCoin Going Glocal + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Adoption news Opera Crypto Browser, the Web3-focused browser with native support for decentralized applications (dapps) and a non-custodial wallet, is announcing plans to expand its suite of networks by integrating the Elrond (EGLD) blockchain. Following the …

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Here’s Why The Bitcoin Price is Down But Far From Out

Here’s Why The Bitcoin Price is Down But Far From Out

The bitcoin price remains down today, with its 0.5% gain in the past 24 hours cancelled out by a 5% drop in a week and 10% fall in a month. However, it has rebounded by nearly 4.8% since reaching a 24-hour low of $18,262 yesterday, which it did in the wake of the Federal Reserve …

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Variant leads .5 million fundraise for developer platform Hyperlane

Variant leads $18.5 million fundraise for developer platform Hyperlane

QUICK TAKE Web3 fund Variant has led an $18.5 million round into developer platform Hyperlane. Galaxy Digital, CoinFund, Circle, Figment, Blockdaemon, Kraken Ventures and NFX also participated in the round. Hyperlane, a startup that helps developers connect applications across different blockchains, has raised $18.5 million from web investment firm Variant. Galaxy Digital, CoinFund, Circle, Figment, Blockdaemon, …

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