Aurelia Butler

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  • 125 Shares149 Views

    in Cryptocurrency

    Core Scientific Seeks Court Approval to Sell $6M Bitmain Coupons

    Bankrupt U.S. Bitcoin mining company Core Scientific has approached the court with a filing permitting it to sell its Bitmain coupons. Core Scientific filed at the United States bankruptcy court for the southern district of Texas Houston Division, seeking to dispose of the coupons that have become of no use to the company.Core Scientific holds $6 million worth of Bitmain coupons under tight conditions. The vouchers are product-specific and cannot exchange for cash with Bitmain. Coupon holders can only use them to purchase S19 miners from Bitmain.Some of these conditions make the coupons useless for Core Scientific, considering its current status. The requirements also include that the vouchers can only fund 30% of the total payment for the S19 miners purchased from Bitmain.S19 miners are older and do not perform as well as the recent versions during mining operations. Many miners closed operations and flooded the market with second-hand S19 miners. Demand for this category of miners also dropped significantly because of the bear market and the clampdown on Bitcoin miners in China.Core Scientific’s situation b …The post Core Scientific Seeks Court Approval to Sell $6M Bitmain Coupons appeared first on Coin Edition.See original on CoinEdition More

  • 138 Shares179 Views

    in Economy

    China central bank to roll over lending tools to spur growth

    The People’s Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, and extend a relending tool for promoting the clean use of coal to the end of 2023, the bank said in a statement on its website.The central bank will also extend a relending tool for the transport and logistics sector to June 2023, it said.Some foreign financial institutions will be included in the scope of the carbon reduction tool, the central bank said.The move to extend the lending tools will help “precisely and effectively implement the prudent monetary policy, guide financial institutions to increase support for green development and other areas”, the central bank said.Since 2020, when the world’s second-largest economy was first jolted by the coronavirus, the central bank has expanded its arsenal of structural policy tools, including relending and rediscount facilities and other low-cost loans.Outstanding loans made via structural tools amounted to nearly 6.45 trillion yuan ($950.98 billion) at the end of 2022, central bank data showed.The central bank is poised to ramp up targeted support for troubled sectors through its structural policy tools, according to policy sources and analysts.($1 = 6.7825 Chinese yuan renminbi) More

  • 100 Shares109 Views

    in Cryptocurrency

    ZigZag Community Rushes Behind ZZ Token: Airdrop Reward

    The professional and credible industry news, Wu Shuo Chinese Twitter tweeted mentioning the decentralized exchange ZK Rollup DEX ZigZag’s founder Kedar’s tweet in which the latter announced the platform’s decision to “issue an airdrop reward of 300 ZZ tokens” based on the transaction volume to the top 100,000 traders.Notably, Wu Shuo tweeted pointing out that the “airdrop of trading users will be controlled within 30% of the total amount of ZZ”: More

  • 125 Shares139 Views

    in Cryptocurrency

    Bank Of China Ex-Policy Advisor Says Crypto Lacks Intrinsic Value

    Professor of finance and economics at Peking University’s National School of Development and a former member of the People’s Bank of China’s monetary policy committee, Huang Yiping, published an article on why China banned cryptocurrency.He reports that when determining a stand on cryptocurrencies, there are several things to consider. First, due to their lack of fundamental worth, cryptocurrencies like bitcoin are more akin to digital assets than actual currencies. Furthermore, studies have revealed that around 25% of all Bitcoin accounts and 50% of all trading activity are connected to criminal activities.Moreover, the maturity of the nation’s financial system and regulatory framework determines the regulatory stance regarding cryptocurrencies and digital assets. Typing informs his readers that the Chinese government forbids cryptocurrency trading there at the moment. The primary reason is that China still has serious anti-money laundering issues. Addi …The post Bank Of China Ex-Policy Advisor Says Crypto Lacks Intrinsic Value appeared first on Coin Edition.See original on CoinEdition More

  • 138 Shares99 Views

    in Cryptocurrency

    Price Indicators Point to a Reversal, Casting Doubt on APT Bullishness

    After an early-morning back-and-forth between bulls and bears in the Aptos (APT) market, bulls ultimately prevailed, driving prices up to an intraday high of $18.53 after finding support around $16.90. This bullish run continued until press time, valuing the APT price at $18.14, a 3.46% increase.The APT market capitalization grew by 3.64% to $2,922,609,502, due to the bullish dominance; nevertheless, the 24-hour trading volume dipped by 3.83% to $1,170,725,386. Due to a drop in 24-hour trading volume and a flagging bull run, investors would be wise to tread carefully for the time being.The post Price Indicators Point to a Reversal, Casting Doubt on APT Bullishness appeared first on Coin Edition.See original on CoinEdition More

  • 100 Shares199 Views

    in Cryptocurrency

    CZ predicts ‘existential implications’ for anti-crypto traditional finance

    The collapse of major crypto companies, such as FTX and Terraform Labs, reduced trust among investors and forced the traditional market to reevaluate their strategies for stepping into the crypto ecosystem. While the reluctance of traditional players stands as a deterrent to crypto’s adoption in the short term, CZ argues that the decision might backfire over the next two decades.Continue Reading on Coin Telegraph More

  • 150 Shares119 Views

    in Economy

    Hungary cbank could start “cautious” rate cuts once CPI slows – minister

    Marton Nagy, a former central bank deputy governor, told state radio that the “very high” interest rates made the government’s job difficult and harmed the economy. Prime Minister Viktor Orban’s government is trying to avoid economic recession at a time when inflation is still running well above 20%.Nagy said inflation could slow to single digits by the end of the year.”When there is a turnaround in inflation, I think that the central bank can also justifiably take a turn in policy…and they can start cautiuously reducing interest rates,” Nagy said, talking about rate cuts for the second time this week.The central bank declined to comment in an emailed response to Reuters on similar remarks made by Nagy in a weekly newspaper on Thursday.On Tuesday, the central bank left its base rate at 13% and said it would keep its one-day deposit rate at 18% until it sees “a trend improvement” in risk assessment. The bank is due to release its fresh inflation forecasts in March.Credit ratings agency S&P on Friday cut Hungary’s long- and short-term foreign and local currency ratings to ‘BBB-/A-3’ from ‘BBB/A-2’, citing persistently high inflation and external pressures. Nagy told the radio that he did not expect a similarly “drastic” move by Moody’s (NYSE:MCO) during a debt rating review due in early March. He also said Hungary’s economic fundamentals were improving, and energy prices have dropped. More

  • 113 Shares179 Views

    in Cryptocurrency

    South Korea to deploy cryptocurrency tracking system in 2023

    The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance, according to local media outlet khgames.Continue Reading on Coin Telegraph More