Tag Archives: AA News

Core Scientific, a provider of blockchain computing data centers and software solutions, announced that the United States Bankruptcy Court for the Southern District of Texas has confirmed the Chapter 11 plan of reorganization. With the Bankruptcy Court’s approval, Core Scientific is now set to emerge and re-list on the Nasdaq by the end of January 2024. Exiting Bankruptcy Under the terms of the plan, shareholders, as of the expected record date of January 23, 2024, will be...

The first round of oral arguments between Coinbase and U.S. regulators during their major legal war has come to a close. The result? No immediate rulings – but the judge overseeing the case found herself impressed with Coinbase’s understanding of the issues and technologies at hand. Coinbase VS SEC on Staking Judge Katherine Polk Failla began Wednesday’s hearing by crediting the “DeFi people” for filing a “really fine” amicus brief on behalf of Coinbase months ago, which...

Joseph Bankman and Barbara Fried were always close to their son. A certain amount of interest in the well-being of their son and that of his business dealings is to be expected. However, the FTX estate, now led by bankruptcy specialist CEO John J Ray III, argues that SBF’s parents – particularly his father – had a much bigger presence in the FTX Groups’ dealings than it appears on paper. If the allegations can be proven true, benefits derived from FTX and its former CEO could...

Mutual fund and ETF provider VanEck has announced plans to delist the VanEck Bitcoin (BTC) Strategy ETF from the Chicago Board Options Exchange (CBOE) after January 30. The fund – which trades under the ticker XBTF – is a Bitcoin futures ETF. That means it offers investors Bitcoin price exposure through investing in Bitcoin futures contracts. VanEck Gives Up Futures ETF Per the company’s Wednesday statement, VanEck’s Board of Trustees approved a decision to liquidate the...

An astonishing 49,866 Bitcoins, dormant for 5-7 years, were suddenly on the move on January 16th. At an average unit price of $6,672, these old BTC present an enticing opportunity for buyers, promising a potential profit surge of around 640% upon resale. Notably, this volume wasn’t transferred to any crypto exchanges, as per the latest findings by CryptoQuant. In fact, recent trends show whales discreetly engaging in transactions without leaving noticeable traces. While this...

Even with significant capital flowing into the recently introduced spot Bitcoin ETFs, the anticipated positive influence on BTC’s price is yet to materialize. Bitcoin experienced a decline of more than 5% following the approvals last week. In contrast, Ethereum recorded an almost 8% rise over the same period despite struggling to sustain the $2,600 level. Data suggest that the price dominance of the world’s largest altcoin continues to surge against Bitcoin. Ethereum’s...

A lucky Bitcoin miner just enjoyed another splash of profits thanks to an abnormally high fee paid by one of the network’s users. Blockchain data shows that an unknown user paid 4 BTC ($172,000) in a transaction fee on Tuesday, dwarfing the amount actually needed to process the transfer. A Costly Blockchain Mistake According to mempool.space, the transaction itself only sent 2.9 BTC to the intended recipient, meaning the attached fee was over 133% the size of the transaction...

The WEF in the Swiss town of Davos kicked off on Jan. 15 with more than 60 heads of state and government in attendance. In previous years, crypto companies were leading the advertising race in the main promenade in Davos; however, the billboards have been taken over by AI firms in 2024, reported CNBC. This shift reflects the explosion in interest and investment in AI over the past year. Meanwhile, crypto has faded from the Davos spotlight after its terrible 2022, lackluster...

Bitcoin is down by almost 10% as it continued to face an uphill battle following the approval of much-anticipated spot ETFs by the SEC. But relief for the flagship crypto-asset might not transpire just yet. In fact, the positive and negative movements of the Korean “Kimchi” Premium and the Coinbase Premium, respectively, signal a potential short-term correction in the Bitcoin market. Bitcoin: Short-Term Correction Imminent The Korea Premium Index (KPI) is a crucial metric for...

The overall market value of cryptocurrencies has increased, leading to a decline in the dominance of stablecoins. Their share of the total crypto market cap has dropped from 17.3% to 7.8%. In a market characterized by a consistent rise in short-term US bond yields, approaching 5%, investors holding stablecoins face higher opportunity costs, prompting a shift of assets off-chain for many, according to the latest report by Binance Research. Centralized Stablecoins Dominate...