Crypto news

[PRESS RELEASE – Please Read Disclaimer] The Bitcoin Lightning Network is now a reality 1xBit, the crypto sportsbook. Just like its name, it promises to change how Bitcoin transactions work and offer an alternative pathway to betting and crypto transactions. Here is everything you need to know about the Lightning Bitcoin Network. Origins of the Bitcoin Lightning Network Bitcoin may have been a miracle that came out of nowhere and outlived a host of naysayers. Still, the...

The cryptocurrency market continues to bleed out and in the past 24 hours, its total capitalization shed another $20 billion. The majority of coins are well in the red and the broader sentiment remains particularly negative and expects further contagion from the FTX fallout. Bitcoin Price Bleeds Out Bitcoin’s price currently sits at around $16,500, down 2.1% in the past 24 hours. This brings the total loss to about 22.6% in the past week. BTC has been trading relatively flat...

The US-based cryptocurrency exchange – Coinbase – reportedly reduced its team by 60 people following the FTX saga and the consecutive plunge of the market. Chief Financial Officer Alesia Haas said the company might lay off more people should the turmoil deepen in the future. According to recent coverage, one of the largest crypto platforms – Coinbase – dismissed 60 of its staff members as a result of the current crisis in the digital asset sector. CFO Alesia Haas described...

Despite the crash of the crypto exchange FTX, the Mercedes Formula One team vowed not to remove the company’s logo from its race cars. Still, the F1 squad said they are closely monitoring the situation with the trading venue, hinting it might terminate the partnership in the near future. FTX’s Logo Remains on the Runway One of the best-performing Formula One teams – Mercedes – said the emblem of FTX will still be visible on the cars driven by Lewis Hamilton and George Russel...

Megadeth is one of the biggest metal bands in history. Most people know them for their awesome music, but now, they’re growing their presence in the cryptocurrency space with their very own token, which means they’re probably about to earn a whole new crowd through the trading market. Megadeth Deepens Its Crypto Presence The band has been around for nearly 40 years. First formed in 1983, Megadeth has sold roughly 40 million records across the globe. Now, the group is...

About four months after commencing voluntary Chapter 11 bankruptcy proceedings, crypto lender Celsius Network is yet to execute the much-talked-about restructuring plan.  The troubled lender has now filed a motion requesting the court’s approval to extend the deadline for the submission of its reorganization plan. Celsius Files for Extension of Exclusivity Period Celsius announced the filing on Thursday via Twitter, stating that the work is complex and requires rigorous...

Two 20-year-olds – Eric Meiggs of Brockton and Declan Harrington of Rockport – have pleaded guilty to engaging in a scheme that stole at least $500,000 in crypto funds from as many as ten different people. They are now set to be sentenced in a Boston federal court. Eric Meiggs and Declan Harrington Plead Guilty Both Meiggs and Harrington were charged in the year 2019 for running a scheme throughout the United States designed to pluck crypto assets from online accounts...

Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange Binance, has expressed his belief in the ability of the crypto market to heal itself once the full impact of FTX’s implosion is felt. Speaking at a conference in Indonesia, CZ said that more companies would be affected by FTX’s downfall, considering how big the crypto exchange was.  “With FTX going down, we will see cascading effects. Especially for those close to the FTX ecosystem, they will be...

Primer – a global payments platform – has partnered with Coinbase, one of the largest and most popular digital currency exchanges in the world, to allow company clients to accept digital currencies as methods of payment when customers check out. Primer and Coinbase… The Perfect Match? The enablement occurs through Coinbase Commerce, the merchant side of the digital currency platform. Roy Zhang – group product manager of Coinbase Commerce – explained in a recent...

Elon Musk recently said that he had a conversation with Sam Bankman-Fried before the Twitter deal. He also shared some predictions going forward. The world’s richest man recently joined a discussion on Twitter with over 60,000 listeners to talk about the FTX hack and bankruptcy. Musk revealed that he had a conversation with the exchange’s former CEO – Sam Bankman-Fried and that his opinion of him wasn’t the best. … I got a ton of people telling he’s got huge amounts of money...