Category: Crypto

Crypto

Argentina Passes “Bitcoin Usable for Commercial Settlements,” Crypto-Enthusiast President Vows to Build Crypto Paradise

Incoming Argentine President Javier Milei once again demonstrated his determination to shut down the Central Bank of Argentina (BCRA) on the X platform, stating that it is a non-negotiable matter. He also mentioned ongoing discussions with the International Monetary Fund (IMF) regarding Argentina’s fiscal adjustment plan and monetary policy in search of solutions to address the country’s economic woes.

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Crypto

Immortal – Chess app ceases play-to-earn functionality due to significant cheating incidents.

Immortal, a play-to-earn chess app with cryptocurrency integration, ceased its financialized crypto features due to rampant cheating. Despite a successful funding round and NFT marketplace, NFT values plummeted post-closure. The platform will continue using Web3 tech for anti-cheat measures. This setback underscores the challenges faced by the “play-to-earn” model. Arbitrum, an Ethereum layer-2 scaling solution, also experienced a significant outage due to transaction volume overload.

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US Court Officially Confiscates Nearly 70,000 BTC from the Silk Road Case, Adding to the National Treasury

The US court has ordered the confiscation of 69,370 bitcoins and other cryptocurrencies linked to the infamous Silk Road. A mysterious individual known as “X” assisted in seizing these funds, now under US government control. The dark web marketplace, Silk Road, founded by Ross Ulbricht, facilitated illegal transactions and has resulted in significant cryptocurrency forfeiture.

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How many of the top 10 tokens by Bitcoin ecosystem market capitalization do you own?

The Bitcoin ecosystem is witnessing competition and development in tokenization technology and the BTC ecosystem. SATS, a BRC-20 token, has gained popularity, while STX, a Layer 2 platform, introduced sBTC to enhance security. Additionally, ORDIs astronomical surge in value after listing on Binance highlights the market’s interest. Various other tokens and protocols, such as RATS, ATOM, MUBI, ALEX, RIF, PIPE, TRAC, and STAMPS, are also making significant strides within the Bitcoin ecosystem.

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Crypto

Rising Without Gains! FTX Restructuring Plan: Compensation for Claimants Based on “Bankruptcy Day Market Price”

FTX, a cryptocurrency exchange, filed for bankruptcy last year, leading to a legal battle and liquidation process. A revised restructuring plan by the bankruptcy team aims to repay billions to customers and creditors. However, using past cryptocurrency values has sparked controversy as it may lead to potential losses for creditors. Uncertainties remain regarding FTX’s relaunch and token valuation.

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BlackRock Makes Amendments to Spot Bitcoin ETF Proposal in Anticipation of SEC Approval

BlackRock submitted a revised proposal for a bitcoin ETF to align with SEC preferences, incorporating cash creation/redemption mechanisms. The move aims to address SEC concerns about investor safety and market manipulation. This follows speculation that the SEC may approve spot bitcoin ETF applications in January. Other firms, including ARK 21Shares, have made similar changes in their proposals.

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