Ethereum News by Thebittimes.Com

For the general public,  Sam Bankman-Fried ’s FTX exchange did appear to be operating smoothly. However, when the exchange began to experience liquidity issues, Sam Bankman-Fried ’s empire crumbled. The demise of FTX impacted a number of businesses and sent shockwaves through the cryptocurrency community. SBF resigned as CEO after FTX declared bankruptcy. To bring FTX back to a stable condition, John J. Ray III was appointed as the new CEO of FTX . Now, according to the latest details that surfaced, SBF has tried to connect with Ray through email. Read more: German Banking Giant DekaBank to Offer Crypto Services to its Clients Source: New York Post Sam Bankman-Fried wants to be helpful to Ray SBF tried to connect with Ray through the mail with the subject line “Reconnecting.” SBF acknowledged that it had been a while since they spoke and said that things ended up on the wrong foot. “I would really love to reconnect and see if ther...

Join Our Telegram channel to stay up to date on breaking news coverage BlockFi, the cryptocurrency lender that declared bankruptcy following the FTX collapse, has been approved by the New Jersey bankruptcy court to auction its crypto mining assets. BlockFi won bankruptcy court approval to set up an auction for the crypto lender’s digital coin mining business https://t.co/3wtZmjCnGs — Bloomberg Crypto (@crypto) January 30, 2023 In a statement to the court, the company said it has suitors interested in buying all or part of the company. The company’s Chapter 11 bankruptcy filing in November revealed that BlockFi’s assets and liabilities ranged between $1 billion and $10 billion, acknowledging that the company owed money to over 100,000 creditors. In an early January filing citing 35 potential counterparties, BlockFi said it was looking to sell a part or all of its business and had approached 106 potential buyers. BlockFi’s lawyer, Francis Petr...

Source: AdobeStock / Сергей Шиманович Bitcoin-tied investment funds saw $116 million in inflows last week as the flagship cryptocurrency has managed to hold gains and stay firm so far this year.  According to a Monday report by digital investment company CoinShares, digital asset investment products saw $117 million in inflows last week, with Bitcoin accounting for $116 million of that figure. This marks the largest digital asset inflows since July 2022, the report noted.  The strong in flows in Bitcoin-tied investment funds come as the leading cryptocurrency has managed to hold onto its recent gains. Bitcoin is up more than 42% year-to-date, and up by 39% over the past 30 days. The coin is currently trading above the $23,000 mark, a level last seen in mid-August 2022.  Meanwhile, CoinShares revealed that the cumulative asset under management (AuM) of crypto fund...

Author：Lily Editor：Colin Wu 1. A large number of Chinese crypto entrepreneurs have relocated to Singapore link A large number of crypto entrepreneurs from China have relocated to Singapore in the past year. Although Hong Kong is attracting them back, some people still think that Hong Kong policy is difficult to separate from Beijing, and is not attractive. 2. Matrixport’s weekly summary 2.1 Crypto billionaire Wu cuts jobs at one firm, loses CEO at other link Matrixport, a Singapore-based crypto financial services company owned by Jihan Wu, announced it would cut 10 percent of its workforce and is reshuffling the leadership of its Asset Management company, with the departure of Matrix Asset Management CEO Damien Loh and others. 2.2 Matrixport: bitcoin’s recent rally may be driven primarily by U.S. institutions link Matrixport analysis notes that almost all of Bitcoin’s 40% year-to-date gains have occurred during U.S. market trading hours; while Aptos has seen strong gains during both...

The crypto gambling platform based in Australia, Stake.com, has entered a partnership worth $100 million with the Alfa Romeo Racing team, indicating a comeback in crypto-related sponsorships. This event marks one of the first and biggest sponsorship programs following the catastrophic collapse of FTX exchange which became known for its high-level and wide-reaching sponsorships . The new year has brought renewed optimism to the markets, following a year-long period that saw prices tanking across the board. The price of Bitcoin has now rallied up around 40% year-to-date, and on-chain data increasingly suggests that the worst may be over . This resurgence in the crypto market, particularly with the rally of Bitcoin, has seemingly led to an increased interest in crypto-related sponsorships again. As part of the partnership agreement with Stake, the racing team will adopt a new name, "Alfa Romeo F1 Team Stake" and it will be a long-term collaboration, as per t...

With every passing day, new discoveries related to Sam Bankman-Fried [ SBF ] and FTX are being found. Just a day back, a new filing revealed that the bankrupt exchange owes money to companies like Apple, Binance, and Netflix. Before that, BlockFi accidentally disclosed its $1.2 billion exposure to FTX . Now, the parents and brother of Bankman-Fried and reportedly under the radar. In a recent court filing, lawyers demanded the kith and kin of Bankman-Fried to answer questions and furnish financial documents about their personal wealth. In addition, lawyers have also asked for other documentation that may reveal any sort of FTX money transfer. The filing went on to disclose that Sam Bankman-Fried’s brother, Gabriel Bankman-Fried, founded an organization that lobbied members of the US Congress. It was reportedly based out of a property situated near the US Capitol. JUST IN: Gabriel Bankman-Fried, SBF 's brother founded an organization that lobbied members of US Congress...

Bitcoin rallied back above $23,000 on Thursday, following the release of Tesla’s quarterly earnings report. The report showed that Tesla was holding 9,720 bitcoin, worth $223 million. Ethereum was also higher, as prices were back above $1,600, rebounding from recent losses in the process. Bitcoin Bitcoin (BTC) moved to a fresh five-month high earlier in the session, as markets reacted to Tesla’s latest quarterly earnings report. The report, which was released after yesterday’s closing bell, showed that the electric vehicle maker did not sell any of its bitcoin. Following the news, BTC/USD raced to a high of $23,722.10, hitting its strongest point since August 17 in the process. BTC/USD – Daily Chart Looking at the chart, the move saw BTC once again break out of a ceiling at $23,500, and this comes after colliding with a floor at $22,500. Earlier gains have somewhat eased, with the 14-day relative strength index (RSI) back in overbought territory. As o...

Calvaria, a new-generation blockchain card game, is gradually rounding up its presale event. With investors piling up its RIA token, the online strategy game is entering its last $100k raise target before the early-bird offer ends. Taking Gaming to the Next Level Calvaria is an online strategy game in which players compete in tournaments using cards representing various in-game characters. The cards are non-fungible tokens (NFTs) with unique abilities and characteristics. Players must assemble the best deck of cards to compete against one another. To achieve this, they employ complex strategies and tactics. The winning player is then given eRIA. The blockchain game is also designed so that players have complete control over their in-game assets. These assets can be obtained through gameplay or participation in other platform activities. Players can earn passive income by monetizing these in-game assets in the Calvaria NFT marketplace. Calvaria developers set out to ...

Crypto asset service providers in South Africa seeking to attract investors via advertisements must “expressly and clearly state that investing in crypto assets may result in the loss of capital.” Influencers working on behalf of crypto asset service providers must “not offer advice on trading or investing in crypto assets and may not promise benefits or returns.” New Code the Result of Collaborative Effort Between ARB and Crypto Entities According to the latest code of practice released by South Africa’s Advertising Regulatory Board (ARB), crypto-related advertisements must clearly warn the public that investing in digital assets “may result in the loss of capital.” Furthermore, ARB’s latest code states that the overall wording of such adverts should not contradict this warning. The new crypto asset advertising guidelines, which are reportedly the result of the collaborative effort between ARB and South African crypto exchanges, are seemingl...

100% of trading fees on the platform will soon be redirected to the SushiSwap treasury for maintenance and expenses. According to a governance proposal passed on Jan. 23, decentralized exchange (DEX) SushiSwap will soon redirect 100% of trading fees on the platform to its treasury for operations and maintenance for one year's duration. The move came after CEO Jared Grey warned that the exchange "only has 1.5 years of treasury runway left," even after slashing annual operating expenses from $9 million to $5 million amids the ongoing crypto winter.  "Revenue to the treasury will be in the form of 50% ETH and 50% USDC, with projection of ~$6m being earned over the next year if this proposal were to pass." In a separate proposal that passed the same day, 99.85% of voters elected to " clawback " 10,936,284 unclaimed SUSHI ($14.8 million) tokens awarded to early liquidity providers during the DEX's launch in 2020. The rewards were available to SushiS...

Despite whether the defendant sees the court notice, getting served by NFT ‘limits what the defendant’ can do with the funds according to legal experts. Non-fungible tokens (NFTs) are becoming an increasingly popular solution to serving defendants in blockchain -based crimes that would otherwise be unreachable, according to crypto lawyers. The last year has seen an increase in litigation delivered over NFTs in cases where those accused of blockchain crime wereuncontactable through traditional methods of communication. In November 2022, the United States District Court for the Southern District of Florida granted a United States law firm The Crypto Lawyers its request for its client to serve a defendant via NFT. While the defendant's identity was unknown, the plaintiff accused the defendant of stealing cryptocurrency to the approximate value of $958,648.41. After the plaintiff presented a declaration from a crypto investigator to the court confirming the stolen cryptocurrency t...

The Shiba Inu Army has repeatedly demonstrated that it is a loyal and supportive community by continuing to push the coin on every social media platform and showering their support. SHIB gained its first-ever practical application with the opening of the Shiba Inu-themed restaurant Welly, which accepts SHIB payments. The collaboration was accepted with open arms by the Shiba Inu community. To add to the good news, they also announced 15% ownership of the company for the Shiba Inu community on April 29, 2022. Welly also declared that it would burn a portion of SHIB’s franchise fees and net income to aid in the ongoing efforts to reduce the circulating supply. Now, according to the details from the co-founder of Welly, the SHIB-themed burger joint is planning to open a branch in Dubai. Welly to expand its wings in Dubai Stefano Gugl, the co-founder of Welly, recently announced on Twitter that he was considering opening a Welly in Dubai and was looking for a ...

Join Our Telegram channel to stay up to date on breaking news coverage Analyst Jacob Bury forecasts some Bitcoin price targets for the coming months and a new presale that could be the best crypto to buy now alongside BTC and the wider market recovery. While buying Bitcoin at its current low price is a sound investment strategy, but the current market is overflowing with a large selection of cryptocurrencies to choose from. Therefore, investors that speculate on digital assets may wish to consider the best Bitcoin alternative in 2023, which will be described more below. The full Bitcoin price prediction and the best crypto to buy now in the video above, follow his YouTube channel for more crypto updates. Bitcoin Sustained Its Upward Trend Over the Last Seven Days Most valuable cryptocurrency asset has again picked up where it left off on its surge, reclaiming the $23,306 high price level. Bitcoin’s price went up from a low of approximately $16k to its current level,...

Post-merge Ethereum users have been eagerly awaiting the commencement of the network’s next major upgrade, Shanghai. However, after over 3 months of prep time, it appears the Shanghai rollout isn’t going as smoothly as expected. What Exactly is the Shanghai Upgrade? In September last year, the much-publicized Ethereum Merge also known as the Ethereum 2.0 upgrade went live. Ethereum underwent some significant changes as its consensus mechanism transitioned from proof-of-work to a cost-efficient proof-of-stake system.  However, since the Beacon launch nearly 3 years ago, Ethereum users have been able to stake ETH and amass rewards. According to on-chain data participants in the staking model have committed up to $25B worth of Ethereum. Where the Shanghai update comes in is that it grants users access to their earnings as well as the initial deposits. The primary feature of the forthcoming update will be the introduction of the withdrawal capability to the staking contract. Plan...

Source: Photomaticstudio/Adobe There has been a sharp rise in Argentinians choosing to work for companies that pay them in crypto rather than fiat, a new report has suggested. Speaking to the media outlet Criptonoticias, Jonathan Chester, the CEO of Bitwage claimed that in the past year, the number of Argentines who have used the platform to collect pay in crypto had grown by 250%. Criptonoticias added that the growth in crypto pay-receiving workers “may be even higher if other payment [methods and platforms] are also taken into account.” Bitwage added that Argentinian freelancers who use the platform are earning “around $3,000,” with higher-earning individuals making “up to $5,000,” a pay package that “far exceeds the average local salary.” One-year trading volumes on Bitso, one of Latin America’s most popular crypto exchanges. (Source: CoinGecko.com) Minimum-wage workers in Argentina can expect to make just $1...