Luna Classic is the native token of Terra, a blockchain developed by Terraform Labs which has undergone a brand change after its price drop in May with the aim of distancing itself from the past.The LUNC ecosystem is in the hands of the holders of the community, so what has been happening around the token is the initiative of the users to resurrect the ecosystem.Terra Luna, or better known now as Luna Classic, is the native token of Terra, a blockchain developed by Terraform Labs.This crypto has undergone a rebrand after the price drop in May 2022 with the aim…
Author: Ferret Weasels
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The Economic Crimes and Corporate Transparency Bill in the UK parliament which has as one of its objectives to extend police powers over cryptocurrencies to prevent money laundering and fraud.The new law will make it easier and faster for law enforcement agencies, such as the National Crime Agency, to seize, freeze, and recover crypto assets.On Thursday, September 22, he presented the Economic Crimes and Corporate Transparency Bill in the UK parliament, which has as one of its objectives to extend police powers over cryptocurrencies to prevent money laundering and fraud.Lawmakers have introduced this bill as part of a series of…
Crypto mining firm Compute North filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas.Compute North will continue to operate while a plan is worked out to pay off creditors.Compute North owes up to $500 million USD to at least 200 creditors and its estimated assets are worth between $100 million and $500 million USD.As energy costs skyrocket as a result of the global turmoil and the cryptocurrency market continues in recession, many crypto firms have faced financial problems, to the point that many companies have declared bankruptcy.This is the case of crypto…
The blockchain firm Zilliqa unveiled the prototype of a Web3.0-focused console that includes a cryptocurrency wallet and crypto mining capabilities.The console will be available for pre-order in early 2023 and will ship with two Zilliqa launch titles.One of its main objectives of the firm is to incorporate non-crypto users into the ecosystem, encouraging them by giving them the native ZIL token as a reward after completing missions.Although it is true that the world of digital assets has already entered the field of entertainment and more specifically in that of video games, with games linked to blockchain networks, attracting the attention…
Bitcoin mining spends 50% of its profits on administrative expenses, which is a stratospheric number compared to oil at 2% and gold at 3%.Keep in mind that Bitcoin mining is a new activity and it is expected that as the sector matures, the amount of income that goes to administrative expenses will be more controlled.On September 15, Ethereum forgot about mining. The second largest asset in the digital world changed its form of consensus and no longer uses the Proof of Work, which it changed to Proof of Stake. However, although a good part of the miners were left without…
The CEO and co-founder of the Kraken exchange, Jesse Powell, will leave his post after 11 years in it, to become chairman of the board.Powell plans to focus on the company’s “products, user experience and overall industry advocacy.”The CEO role will be filled by Dave Ripley, chief operating officer who has been with the company since 2016. Kraken, a major cryptocurrency exchange, reported that Jesse Powell, its co-founder and CEO, will step down. Kraken’s next CEO will be Dave Ripley, COO who has worked at the company since 2016. Why?Jesse Powell has been the head of Kraken for over 11…
Having been replaced by validators due to The Merge, former Ethereum miners are exerting strong selling pressure by dumping the cryptocurrency.Miner rewards were reduced by 90% after The Merge.Miners have sold over 30,000 ETH since The Merge.Beyond the fact that the crypto ecosystem is wide and varied, today the main topic of conversation and analysis is Ethereum and The Merge. The change from Proof of Work to Proof of Stake is a significant move that left some of the ecosystem happy while others were upset.The new PoS consensus will no longer consume the large amount of energy that PoW demanded,…
Moelis & Company, Voyager’s investment bank, would be auctioning off the company’s assets.Crypto exchanges Binance and FTX have made the highest bids for the assets of the bankrupt crypto lending firm.Approximately each is offering to pay US$50 million for Voyager’s assets. Last July, Voyager Digital, a high-profile cryptocurrency lender, declared bankruptcy through Chapter 11. Voyager Digital’s bankruptcy was part of a cascading series of events that began with the collapse of Terra UST, market volatility, and the collapse of Three Arrows Capital.Voyager Digital was a company that, on the surface at least, appeared to be a qualified commercial institution. It…
US District Court for the Southern District of New York Judge Katherine Polk Failla has ordered Tether to prove the existence of 1-to-1 backing of its stablecoin Tether (USDT).Part of the settlement after the lawsuit between the New York Attorney General’s office and iFinex, the operator of Bitfinex and Tether, requires Tether to submit a series of reports each quarter detailing its reserves to the NYAG.The judge of the United States District Court for the Southern District of New York, Katherine Polk Failla, ordered Tether prove the existence of 1-to-1 backing of its namesake stablecoin, Tether (USDT).The company must submit…