Tag Archives: social

Cryptosat – a California-based builder of satellites that power cryptographic and blockchain applications – sent into orbit another satellite called Crypto2.  The company employed the services of Elon Musk’s rocket manufacturer – SpaceX. The Second Mission According to a document seen by CryptoPotato, Cryptosat sent its second satellite into Earth’s orbit using the two-stage rocket SpaceX Falcon 9 on January 3. The spacecraft carried a total of 114 devices that could help 23...

Troubled Bitcoin miner Core Scientific will shut down more than 37,000 crypto mining rigs belonging to bankrupt crypto lender Celsius Network as both firms finally reach an agreement in court. Core Scientific, which hosts rigs for Celsius, filed for Chapter 11 bankruptcy in December and had partially blamed the lender for its financial troubles. Both companies have a hosting deal in which the mining firm transfers some energy costs to Celsius. The Legal Fight The two parties...

Solana’s largest non-fungible token marketplace Magic Eden recently found itself in a bizarre situation after the platform displayed pornographic images and stills from the award-winning comedy series The Big Bang Theory instead of NFT collections. Shortly after the incident, users began speculating that the NFT marketplace may have been compromised. However, Magic Eden clarified that the incident was caused by a third-party image hosting provider supposedly experiencing a...

The Seoul Central District Court reportedly ruled that the owner and former Chairman of the South Korean cryptocurrency exchange – Lee Jung-hoon – has not defrauded Kim Byung-gun for 112 billion won ($87.5 million). Had he been found guilty, he could have faced a prison sentence of up to eight years. The Court’s Final Word According to a local coverage, the 34th Division of the Criminal Agreement of the Seoul Central District Court found Lee not guilty of the accusations of...

The streak of bankruptcies and price declines has dampened glimmers of positive progress. But Bitcoin just turned 14 today. January 3 is known as Bitcoin Genesis Day for the first block of BTC ever mined by Satoshi way back in 2009, which paved the way for the cryptocurrency as we know it today. The first block on the network hosts a single transaction – the 50 BTC block reward – sent to the pseudonymous creator(s) for mining it. The BTC mining rewards are yet to be touched....

The Dogecoin Foundation – a nonprofit organization that supports the development of the first-ever memecoin – announced a new 5,000,000 DOGE development fund. The capital will be distributed to developers who contribute to the advancement of the token’s ecosystem. The entity also revealed that Marshall Hayner (one of the fund’s custodians) joined the Dogecoin Foundation Board of Directors.  Stimulus for Developers The organization vowed to move five million DOGE (worth around...

Stablecoins have continued to play a very critical role in the crypto economy. The ongoing bear market also demonstrated that dollar-pegged coins like USDT and USDC witnessed a parabolic growth in market cap this year. However, top stablecoin issuers seemingly took a break from printing in December amidst a great deal of market turmoil and increased scrutiny. According to data from the ‘Stablecoin Printer,’ USDT, USDC, BUSD, and TUSD, have not been printed during the last...

The crypto market behaving erratically is nothing new, but absolutely no one saw such epic levels of fund mismanagement coming from established giants. The young industry’s turn to a more sordid state of affairs hit everyone by surprise, especially after the heady rush of the bull run last year. 2022 was marred by corruption and fraudulent activity. An industry that claims to have traceable and public transactions saw big bucks being funneled maliciously with much audacity...

In an open letter to Barry Silbert, Gemini co-founder Cameron Winklevoss said that Digital Currency Group owes Genesis approximately $1.675 billion. Cameron Winklevoss shared an open letter to Barry Silbert – the founder of Digital Currency Group – on Twitter. On behalf of many people, he argued that Genesis – a subsidiary of DCG – owes $900 million to them. Winklevoss argued that the two companies are “beyond commingled.” Furthermore, he alleged that: To be clear, this mess...

2023 is here, and with that comes an influx of predictions regarding the price of Bitcoin during the year. The past 12 months have been particularly devastating for the cryptocurrency, which lost upwards of 70% of its dollar value. That said, many seem to be quite optimistic about the short-term future of BTC. Here are four great and one not-so-much predictions for 2023. Tim Draper Says BTC to $250K Tim Draper is perhaps one of the most outspoken and prominent Bitcoin...