Typically, periods of low volatility are followed by a range expansion. The longer the time spent inside a range, the stronger the eventual breakout from it. The only problem is that it is difficult to time the breakout with certainty. Therefore, traders should be watchful. Otherwise, they may miss out on the opportunity to ride the next trending move. Continue Reading on Coin Telegraph More
This marks the second fund from Kraken Ventures. Its previous fund raised $65 million, according to Crunchbase, and was announced Dec. 17, 2021. The second fund’s $100 million aim represents a massive uptick, even as the venture market for blockchain and cryptocurrency-adjacent projects appears to be in somewhat of a decline. Continue Reading on Coin Telegraph More
Meanwhile, the wave of lawsuits has reached former partners of FTX. Eighteen leading venture capital (VC) investment firms, including Temasek, Sequoia Capital, Sino Global and Softbank (OTC:SFTBY), have been named defendants in a class-action lawsuit filed in the United States District Court for the Northern District of California for their links to the exchange. The suit claims that the defendants used their “power, influence and deep pockets to launch FTX’s house of cards to its multibillion-dollar scale.”Continue Reading on Coin Telegraph More
The RBZ announced the introduction of the GBDT in April and had conducted 11 issuances representing 325 kilograms (716.5 pounds) of gold by July 21, according to a midterm financial report the bank released on Aug. 9. The tokens are backed by physical gold held by the RBZ.Continue Reading on Coin Telegraph More
NEW YORK (Reuters) – Crypto lender Celsius Network on Monday received a U.S. bankruptcy judge’s permission to seek creditor approval for its bankruptcy plan, advancing a proposal to exit Chapter 11 as a new entity owned by its creditors.Judge Martin Glenn signed off on Celsius’s disclosure statement and solicitation materials at a U.S. Bankruptcy Court hearing in Manhattan, saying Celsius had given creditors sufficient information to vote on the proposed restructuring.Some creditors oppose the plan, but the official committee appointed to represent junior creditors supports it and will recommend that Celsius customers vote in favor. New Jersey-based Celsius filed for Chapter 11 protection in July 2022, one of several crypto lenders to go bankrupt following the rapid growth of the industry during the COVID-19 pandemic. Celsius had 600,000 customers who held about $4.4 billion in interest-bearing Celsius accounts when it filed for bankruptcy, according to court documents. Celsius’s bankruptcy plan would return some crypto deposits to retail customers and hand control of remaining business lines – including bitcoin mining and staking – to the Fahrenheit Group, a consortium that includes blockchain-based venture capital firm Arrington Capital. Celsius estimates that most of its customers, who had interest-bearing Earn accounts, will receive a 67% recovery, through return of liquid crypto assets like Bitcoin and Ether, equity shares in the new company, and proceeds of post-bankruptcy litigation against company founder Alex Mashinsky and others. Customers will generally receive a higher recovery on other, non-interest-bearing accounts.Fahrenheit will buy a minority stake in the new business for $50 million and will publicly list the new company’s stock on Nasdaq. This will allow Celsius customers to sell equity shares that they will receive as part of their bankruptcy recovery, according to court documents.The reorganized company will pursue litigation against Mashinsky, who already faces U.S. criminal charges and a New York civil lawsuit for allegedly misleading customers and artificially inflating the value of his company’s propriety crypto token. Mashinsky has pleaded not guilty. Celsius creditors have a Sept. 20 deadline to submit votes on the proposal, and Celsius intends to seek final court approval of its restructuring plan on Oct. 2, according to court documents. More
Popular pseudonymous trader TechDev used the three-week timeframe to show that Bitcoin’s compression above the 20-period moving average was approaching values seen only four times since Bitcoin’s creation. Interestingly, on all three previous occasions, the expansions happened to the upside, suggesting that history favors the bulls.Continue Reading on Coin Telegraph More
On Aug11, the FCA published a response to a right-to-know request, whose author remains unnamed. The request considered four questions about the registration statistics of crypto asset businesses. Continue Reading on Coin Telegraph More
The investment comes alongside a collaboration between the two companies to develop a multilingual large language model (LLM) for the Telco AI Platform. Continue Reading on Coin Telegraph More
