Posts

3AC subpoenas issued as dispute grows over claims of Terraform dump

The bankruptcy judge has given approvals to subpoenas aimed at Three Arrows Capital’s leadership, while a new Terra Luna conspiracy has been floated. A federal judge overseeing Three Arrows Capital’s (3AC’s) Bankruptcy proceedings has signed an order approving subpoenas to be delivered to 3AC’s former leadership, including co-founders Su Zhu and Kyle Davies. The subpoenas require the founders to give up any “recorded information, including books, documents, records, and papers” in their custody that relates to the firm’s property or financial affairs. The infamous hedge fund, worth $10 billion at its peak, filed for Chapter 15 bankruptcy on Jul. 1 with its troubles tied up in too much leverage and the collapse of Terra Luna (LUNA), known now as Terra Classic (LUNC), and its algorithmic stablecoin formerly known as TerraUSD (UST). Since then, the liquidators — advisory firm Teneo — have been trying to hunt down the firm’s assets and pin down the 3AC's co-founders. The latest order

Ripple Price Prediction Today, December 7, 2022: Low Volatility Keeps XRP/USD Price Under $0.3898

Image
Join Our Telegram channel to stay up to date on breaking news coverage For a while price action in the Ripple, the market appears to have lost direction recently. However, technical indicators seem to be predicting that the price may fall lower. To that effect, let’s take a closer look, shall we? Ripple Analysis Statistics Data: Ripple value now: $0.3867 XRP market cap: $153.45 billion XRP moving supply: 122.37 million RippleTotal Supply: 122.37 million XRP Coinmarketcap ranking: #2 Key price Levels: Top: $0.3897, $0.3927, $0.3957 Bottom: $0.3867, $0.3837, $0.3807 Ripple Price Prediction Today December 7, 2022: XRP/USD Seems Trapped Under 78.60 Fib Level Price volatility in the XRP/USD reduced gradually till this point. Consequently, this seems to have kept price under the 78.60 Fibonacci level. Over the past two sessions now, ripple has been trading under the $0.3898 price level, however, at this point, it appears as if selling has become a more dominant action in

Court in China Recognizes NFTs as Virtual Property Protected by Law

A court in the Chinese city of Hangzhou has determined that non-fungible tokens, or NFTs, represent virtual property protected by the laws in the People’s Republic. The ruling comes from a case over a dispute between a customer and a platform hired to sell a collection of tokens. Hangzhou Internet Court Hears Case Involving Property Rights Over NFTs A court in Hangzhou, the capital of the eastern Chinese province of Zhejiang, has reviewed a dispute between a client and a local digital art platform which canceled a sale of NFTs on his behalf. The user sued the company claiming the operation was terminated without his consent. The platform, which issued a refund, explained that its move had to do with the inaccurate personal information it received from the plaintiff. According to its know-your-customer procedures, orders placed without real-name authentication should be canceled, an announcement detailed. The Hangzhou Internet Court said that NFT collections bear the characteristics

JP Morgan CEO Jamie Dimon Calls Crypto "A Complete Sideshow" JP Morgan CEO Jamie Dimon Calls Crypto "A Complete Sideshow"

Image
In an interview with CNBC, JP Morgan CEO Jamie Dimon called crypto “a complete sideshow,” among other things. Referencing the FTX collapse, Dimon assured his belief in the worthlessness of most digital assets. The wide-ranging interview saw the executive discuss everything from inflation to a recession, while taking time to discuss the FTX fallout. Subsequently, Dimon’s perspective on tokens, and his view on Web3, are very different. Source: The Economic Times Dimon Calls out Tokens There are only few names bigger in the financial sector than JP Morgan Chase. One of the largest banks in the world, it has overcome everything from the financial crisis of 2008 to the pandemic of 2020. Throughout that time, Jamie Dimon has been the man at the helm. Speaking to CNBC about his perspective on the world’s financial state, Dimon shared a grim prognosis. Moreover, he turned some of his attention to the cryptocurrency market and his thoughts on what is to come following the collap

Arweave Price Prediction as AR Threatens Breakout Above $10

Image
Join Our Telegram channel to stay up to date on breaking news coverage AR, the token that Arweave’s decentralized data storage network, is an outperformer in the cryptocurrency space this Tuesday. According to CoinMarketCap, the cryptocurrency was last trading higher by about 4.5% in the last 24 hours, meaning it is the second-best performing cryptocurrency in the top 100 by market capitalization over this time period. According to TradingView citing Binance data, AR/USD was last up just over 3.0% on Tuesday, having rallied back above its 21-Day Moving Average at $9.45 to the $9.70 area. Price Prediction – AR Headed Back Above $10? Arweave price predictions have become more bullish on Tuesday, despite the fact that the cryptocurrency has for now found resistance just under $10 in the form of recent highs and its 100DMA. That because AR has formed an ascending triangle, a technical pattern that often forms as price pressure builds ahead of a bullish breakout. If AR/USD can mu

Today in Crypto: Goldman Sachs Reportedly to Spend Millions on Crypto Companies, US FTC Investigating Crypto Firms, ConsenSys Releases Data Collection Update

Image
Source: AdobeStock / alison Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Investment news Financial services firm Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies following the FTX collapse, Reuters reported. Executive Mathew McDermott is quoted as saying that the company is on the lookout for opportunities that are "priced more sensibly" and is doing its due diligence on some crypto firms. The Panoptic team has raised $4.5 million in seed funding, led by gumi Cryptos Capital , with contributions from Uniswap Labs Ventures , Coinbase Ventures , Jane Street , Blizzard ( the Avalanche Ecosystem Fund ), Zee Prime Capital , and others, including strategic founders in the DeFi space. The press release stated that the Panoptic team has been building for the past six months to create “an innovative p

Bitcoin clings to $17K as ARK flags 'historically significant capitulation'

Image
BTC price action is suffering from FTX, but decentralized blockchains are "as strong as ever," says ARK Invest. Bitcoin (BTC) and decentralized blockchains are “as strong as ever” in the wake of the FTX meltdown, ARK Invest says. In the latest edition of its monthly newsletter, “The Bitcoin Monthly,” the investment giant came out firmly bullish on BTC. ARK: FTX scandal may be "most damaging event" ever With BTC price volatility ebbing into December, the industry is still reeling from ongoing FTX contagion. As lawmakers only begin to get to grips with the events, when it comes to Bitcoin, ARK is doubling down on its conviction — and setting it firmly apart from centralized alternatives. “The fall of FTX could be the most damaging event in crypto history,” one of the latest report’s “key takeaways” states. While acknowledging that even Digital Currency Group (DCG) — one of whose products, the Grayscale Bitcoin Trust (GBTC), it recently bought — “faces considerable pr