Video Game Retail Giant Gamestop Seeks a Senior Engineer for Blockchain NFT Platform
The American video game, consumer electronics, and gaming merchandise retailer, Gamestop, is seeking a non-fungible token (NFT)-focused senior software engineer, according to a new job listing. Similar to the recent job listing stemming from the social media services company Reddit, the retail giant Gamestop seems to be building an NFT marketplace.
Gamestop Looks to Hire Engineer to Join Company’s NFT/Blockchain TeamOn October 25, the corporate entity Gamestop, a retail chain of video game merchandise and consumer electronics, published a job listing seeking a senior software engineer for a possible NFT platform. The candidate, if hired, will join Gamestop’s “NFT/Blockchain team.”
“Gamestop is looking for a Sr. Software Engineer to join our NFT/Blockchain team,” the company’s job listing notes. “This role will be remote and will collaborate with a team of engineers, product managers, designers, and business partners distributed across the U.S. In this role, you will help design, build, and maintain highly scalable services and core API components, powering products and features that delight millions of Gamestop customers.”
The American video game, consumer electronics, and gaming merchandise retailer, Gamestop, is seeking a non-fungible token (NFT)-focused senior software engineer, according to a new job listing. Similar to the recent job listing stemming from the social media services company Reddit, the retail giant Gamestop seems to be building an NFT marketplace.
Gamestop Looks to Hire Engineer to Join Company’s NFT/Blockchain TeamOn October 25, the corporate entity Gamestop, a retail chain of video game merchandise and consumer electronics, published a job listing seeking a senior software engineer for a possible NFT platform. The candidate, if hired, will join Gamestop’s “NFT/Blockchain team.”
“Gamestop is looking for a Sr. Software Engineer to join our NFT/Blockchain team,” the company’s job listing notes. “This role will be remote and will collaborate with a team of engineers, product managers, designers, and business partners distributed across the U.S. In this role, you will help design, build, and maintain highly scalable services and core API components, powering products and features that delight millions of Gamestop customers.”
Market Pundit Tells Why ‘Shiba Inu Transcending Dogecoin Is Very Bad For Bitcoin’
Key takeaways
Shiba Inu (SHIB) recently surpassed Dogecoin (DOGE) by market valuation.The event has raised sentiments that the same could soon happen between Bitcoin and Ethereum.Despite SHIB’s success, leading platforms are still skeptical about listing the asset.Shiba Inu (SHIB), the rave of the moment dog-themed cryptocurrency, finally did the unexpected and flipped long-time rival, Dogecoin (DOGE) yesterday.
While the battle has been long drawn out with SHIB repeatedly closing in on DOGE’s dominance, the flippening finally occurred as SHIB made it to 9th place in crypto rankings having reached a market capitalization of around $41 billion compared to DOGE’s around $39 billion. SHIB surged 66.80% in the last 24 hours and also set a new all-time high of around $0.000088. It is currently trading at around $0.000071.
Key takeaways
Shiba Inu (SHIB) recently surpassed Dogecoin (DOGE) by market valuation.The event has raised sentiments that the same could soon happen between Bitcoin and Ethereum.Despite SHIB’s success, leading platforms are still skeptical about listing the asset.Shiba Inu (SHIB), the rave of the moment dog-themed cryptocurrency, finally did the unexpected and flipped long-time rival, Dogecoin (DOGE) yesterday.
While the battle has been long drawn out with SHIB repeatedly closing in on DOGE’s dominance, the flippening finally occurred as SHIB made it to 9th place in crypto rankings having reached a market capitalization of around $41 billion compared to DOGE’s around $39 billion. SHIB surged 66.80% in the last 24 hours and also set a new all-time high of around $0.000088. It is currently trading at around $0.000071.
Celestial Leads The Future Of Cross-Chain Gaming Metaverse
Finland, Helsinki, October 29, 2021. Coming up as a first-mover on the adoption of blockchain gaming metaverse on the OEC public chain (formerly known as OKExChain) is Celestial, a cross-chain gaming metaverse trending in the crypto airwaves. Deploying the concept of galactic warfare, Celestial combines the concept of GameFi, SocialFi, and NFTSwap to bring one of the finest innovations to the gaming metaverse.
Celestial has grown in popularity in the blockchain gaming ecosystem since its inception. Racking up some impressive figures, Celestial initiated a public BETA test on September 14 that contributed to over 70% of OEC public chain trading activity, resulting in high congestion of the OKexchain, with daily transactions topping 1 million at the time.
Finland, Helsinki, October 29, 2021. Coming up as a first-mover on the adoption of blockchain gaming metaverse on the OEC public chain (formerly known as OKExChain) is Celestial, a cross-chain gaming metaverse trending in the crypto airwaves. Deploying the concept of galactic warfare, Celestial combines the concept of GameFi, SocialFi, and NFTSwap to bring one of the finest innovations to the gaming metaverse.
Celestial has grown in popularity in the blockchain gaming ecosystem since its inception. Racking up some impressive figures, Celestial initiated a public BETA test on September 14 that contributed to over 70% of OEC public chain trading activity, resulting in high congestion of the OKexchain, with daily transactions topping 1 million at the time.
Tom Brady Pays Fan an Entire Bitcoin to Get a Special Ball Back
Football legend and team member of the Tampa Bay Buccaneers Tom Brady has paid a fan an entire bitcoin to get a special football back.
Tom Brady Parts with BTC, Gets a FootballIn a recent interview, Brady recounts throwing his 600th touchdown ball to wide receiver Mike Evans. No player has ever achieved such a touchdown milestone, and this made the ball one of the most special items in the history of the sport. Unfortunately, Evans did not realize the significance of the ball and handed it to a fan named Byron Kennedy in the audience.
Realizing how important the ball was, several team representatives began negotiating with the fan to get it back. Overall, Kennedy received as much as $100,000 in gifts – including an entire bitcoin from Brady himself – to hand the ball back, though many analysts estimate the ball itself may have been worth as much as $500,000, and Brady admits Kennedy may have received the short end of the stick.
Football legend and team member of the Tampa Bay Buccaneers Tom Brady has paid a fan an entire bitcoin to get a special football back.
Tom Brady Parts with BTC, Gets a FootballIn a recent interview, Brady recounts throwing his 600th touchdown ball to wide receiver Mike Evans. No player has ever achieved such a touchdown milestone, and this made the ball one of the most special items in the history of the sport. Unfortunately, Evans did not realize the significance of the ball and handed it to a fan named Byron Kennedy in the audience.
Realizing how important the ball was, several team representatives began negotiating with the fan to get it back. Overall, Kennedy received as much as $100,000 in gifts – including an entire bitcoin from Brady himself – to hand the ball back, though many analysts estimate the ball itself may have been worth as much as $500,000, and Brady admits Kennedy may have received the short end of the stick.
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Moralis Adds Number One Coinbase Engineer Craig Hammell as a Senior Tech Advisor
December 1, 2021 – Sunbyberg, Sweden
Decentralized application platform Moralis welcomes Craig Hammell to its team as a senior technical advisor. Attracting Craig Hammell, the first engineering hire of Coinbase, will bring his expertise to the Moralis project and enhance the project’s capacity to scale and encompass more blockchains. Furthermore, Hammell will help bring Moralis’ tools to mobile devices and gaming engines, including Unity.Moralis, a blockchain solution powering decentralized applications (DApps), welcomes a new member to its team. The project has generated a lot of attention following its recent $13.4 million seed funding round, courtesy of EQT Ventures. That seed capital will fuel product development and corporate expansion, bringing Moralis’ user-friendly interface for DApp development to a broader audience.
Adding Craig Hammell to the team as a technical advisor will help scale Moralis into the standard for web 3.0 development. Moreover, it will enhance the appeal of its middleware product, as the team adds a senior technical advisor with a proven track record in the crypto world to its ranks. Craig Hammell will fill the role of advisor, as he immediately acknowledged the potential and use case for Moralis and its role in taking web 3.0 into the mainstream.
December 1, 2021 – Sunbyberg, Sweden
Decentralized application platform Moralis welcomes Craig Hammell to its team as a senior technical advisor. Attracting Craig Hammell, the first engineering hire of Coinbase, will bring his expertise to the Moralis project and enhance the project’s capacity to scale and encompass more blockchains. Furthermore, Hammell will help bring Moralis’ tools to mobile devices and gaming engines, including Unity.Moralis, a blockchain solution powering decentralized applications (DApps), welcomes a new member to its team. The project has generated a lot of attention following its recent $13.4 million seed funding round, courtesy of EQT Ventures. That seed capital will fuel product development and corporate expansion, bringing Moralis’ user-friendly interface for DApp development to a broader audience.
Adding Craig Hammell to the team as a technical advisor will help scale Moralis into the standard for web 3.0 development. Moreover, it will enhance the appeal of its middleware product, as the team adds a senior technical advisor with a proven track record in the crypto world to its ranks. Craig Hammell will fill the role of advisor, as he immediately acknowledged the potential and use case for Moralis and its role in taking web 3.0 into the mainstream.
Mac Jones of the Patriots Gives His Teammates BTC
Mac Jones is a rookie quarterback for the New England Patriots football team. He’s had quite a year in 2021, having led the team to a new 9-6 record, and he’s now slated to be the official winner of the Rookie of the Year award.
Mac Jones Seems to Love BTCTo celebrate, Jones is giving bitcoin to all the team members that helped the Patriots get to where they need to be. He says he couldn’t have accomplished all he’s set out to do by himself, and he’s looking to share his gratitude by spreading a little digital wealth amongst his fellow players.
Mac Jones is a rookie quarterback for the New England Patriots football team. He’s had quite a year in 2021, having led the team to a new 9-6 record, and he’s now slated to be the official winner of the Rookie of the Year award.
Mac Jones Seems to Love BTCTo celebrate, Jones is giving bitcoin to all the team members that helped the Patriots get to where they need to be. He says he couldn’t have accomplished all he’s set out to do by himself, and he’s looking to share his gratitude by spreading a little digital wealth amongst his fellow players.
Bank of England Hikes Bank Rate to 0.5%, Governor Andrew Bailey Hints at Wage Restraints
The Bank of England (BOE) raised the country’s benchmark bank rate from 0.25% to 0.5% this week in order to curb rampant inflation. “We face a trade-off between strong inflation and weakening growth,” the British central bank’s governor Andrew Bailey told the press. Furthermore, when asked by a BBC reporter if BOE members were urging British citizens not to ask for pay raises, Bailey replied: “Broadly, yes.”
BOE Raises Rates for the Second Time Since the Start of the Covid-19 Pandemic, British Central Bank Governor Says ‘We Need to See Restraint in Pay Bargaining’The Bank of England has raised the benchmark interest rate again after raising the rate back in December. BOE was the first major central bank to raise rates after the pandemic and on Thursday, the rate was bumped again from 0.25% to 0.5%. The British central bank’s move follows hawkish statements stemming from the U.S. Federal Reserve when it said it would raise rates “soon.” Fed chairman Jerome Powell signaled that the rates would likely be increased in mid-March 2022.
Following the BOE’s Monetary Policy Committee meeting, the bank disclosed that four out of the nine committee members wanted to bump the rate to 0.75%. However, the majority of committee members, including governor Andrew Bailey, voted to increase the benchmark rate to 0.5% instead. After the increase, the British pound tapped a two-year high against the euro, and British government bonds were sold off during the afternoon trading sessions on Thursday.
The Bank of England (BOE) raised the country’s benchmark bank rate from 0.25% to 0.5% this week in order to curb rampant inflation. “We face a trade-off between strong inflation and weakening growth,” the British central bank’s governor Andrew Bailey told the press. Furthermore, when asked by a BBC reporter if BOE members were urging British citizens not to ask for pay raises, Bailey replied: “Broadly, yes.”
BOE Raises Rates for the Second Time Since the Start of the Covid-19 Pandemic, British Central Bank Governor Says ‘We Need to See Restraint in Pay Bargaining’The Bank of England has raised the benchmark interest rate again after raising the rate back in December. BOE was the first major central bank to raise rates after the pandemic and on Thursday, the rate was bumped again from 0.25% to 0.5%. The British central bank’s move follows hawkish statements stemming from the U.S. Federal Reserve when it said it would raise rates “soon.” Fed chairman Jerome Powell signaled that the rates would likely be increased in mid-March 2022.
Following the BOE’s Monetary Policy Committee meeting, the bank disclosed that four out of the nine committee members wanted to bump the rate to 0.75%. However, the majority of committee members, including governor Andrew Bailey, voted to increase the benchmark rate to 0.5% instead. After the increase, the British pound tapped a two-year high against the euro, and British government bonds were sold off during the afternoon trading sessions on Thursday.
LBank Exchange Will List BITCOIN LEGEND (BCL) on March 15, 2022
INTERNET CITY, DUBAI, Mar. 1, 2022 – LBank Exchange, a global digital asset trading platform, will list BITCOIN LEGEND (BCL) on March 15, 2022. For all users of LBank Exchange, the BCL/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on March 15, 2022.
Today’s world is in the fourth industrial revolution, and there is no doubt that blockchain technology will play an important role in it. Created to realize people’s ideals, BITCOIN LEGEND (BCL) aims to become a platform that builds a decentralized application ecosystem using blockchain technology, cryptocurrency, and metaverse systems in the field of the fourth industrial revolution. Its native token BCL will be listed on LBank Exchange at 16:00 (UTC+8) on March 15, 2022, to further expand its global reach and help it achieve its vision.
INTERNET CITY, DUBAI, Mar. 1, 2022 – LBank Exchange, a global digital asset trading platform, will list BITCOIN LEGEND (BCL) on March 15, 2022. For all users of LBank Exchange, the BCL/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on March 15, 2022.
Today’s world is in the fourth industrial revolution, and there is no doubt that blockchain technology will play an important role in it. Created to realize people’s ideals, BITCOIN LEGEND (BCL) aims to become a platform that builds a decentralized application ecosystem using blockchain technology, cryptocurrency, and metaverse systems in the field of the fourth industrial revolution. Its native token BCL will be listed on LBank Exchange at 16:00 (UTC+8) on March 15, 2022, to further expand its global reach and help it achieve its vision.
Ethereum Significantly Undervalued While Terra, Solana and Additional ETH Rival Show Positive Signals: Bloomberg Analyst
Commodity analysts from Bloomberg say that Ethereum (ETH) is significantly undervalued and that three of its biggest competitors are all showing solid potential.
In the latest Crypto Outlook report, Bloomberg strategist Mike McGlone says that based on a discounted cash flow model, which attempts to estimate the value of an investment based on projections of future cash flows, Ethereum is undervalued by a long shot.
Commodity analysts from Bloomberg say that Ethereum (ETH) is significantly undervalued and that three of its biggest competitors are all showing solid potential.
In the latest Crypto Outlook report, Bloomberg strategist Mike McGlone says that based on a discounted cash flow model, which attempts to estimate the value of an investment based on projections of future cash flows, Ethereum is undervalued by a long shot.
Drops DAO Mainnet Finally Goes Live, Adding NFTs As Collateral
Drops DAO, a decentralized lending network based in Lithuania, has officially announced that its mainnet version will go online on Wednesday, May 4, 2022. The mainnet’s debut gives users and community members access to the Drops ecosystem, allowing them to interact with and use all of the ecosystem’s features.
Drops DAO’s mainnet launch allows users to utilize their non-fungible tokens (NFTs), metaverse assets, and DeFi tokens as collateral to borrow money through the platform’s lending facilities. According to the team’s announcement, this will provide much-needed liquidity and utility to the NFT and DeFi ecosystems. Drops DAO, on the other hand, eliminates the necessity for middlemen in the lending system, highlighting the benefits of decentralized protocols.
Drops DAO, a decentralized lending network based in Lithuania, has officially announced that its mainnet version will go online on Wednesday, May 4, 2022. The mainnet’s debut gives users and community members access to the Drops ecosystem, allowing them to interact with and use all of the ecosystem’s features.
Drops DAO’s mainnet launch allows users to utilize their non-fungible tokens (NFTs), metaverse assets, and DeFi tokens as collateral to borrow money through the platform’s lending facilities. According to the team’s announcement, this will provide much-needed liquidity and utility to the NFT and DeFi ecosystems. Drops DAO, on the other hand, eliminates the necessity for middlemen in the lending system, highlighting the benefits of decentralized protocols.
Ripple’s XRP Projected To Surpass $2.55 By December 2022 Following SEC Lawsuit Outcome
A new report by finance trend survey platform Finder has projected Ripple’s (XRP) price to hit $2.55 before the year ends.
The report, which was updated on May 4 entailed consulting a panel of 36 industry experts for their thoughts on how XRP will perform over the next decade should Ripple win or lose the case against the Securities and Exchange Commission (SEC).
A new report by finance trend survey platform Finder has projected Ripple’s (XRP) price to hit $2.55 before the year ends.
The report, which was updated on May 4 entailed consulting a panel of 36 industry experts for their thoughts on how XRP will perform over the next decade should Ripple win or lose the case against the Securities and Exchange Commission (SEC).
Coinweb is one of the most promising projects
Now the price of CWEB token on exchanges Gate.io and Kucoin grows against the market. The project is the killer of DOT and similar services. Now its price is only $0.02, although at the start of trading a few months ago it was worth more than $0.2. Analysts agree that the token could be worth more than $0.5 by the fall, and will reach $1 in 2023.
Now the price of CWEB token on exchanges Gate.io and Kucoin grows against the market. The project is the killer of DOT and similar services. Now its price is only $0.02, although at the start of trading a few months ago it was worth more than $0.2. Analysts agree that the token could be worth more than $0.5 by the fall, and will reach $1 in 2023.
Binance Crypto Services In Bahrain Expanded Under New License
On Thursday, Binance announced that it had received a Category 4 License as a crypto assets service provider (CASP) from the Central bank of Bahrain.
“Binance is extremely proud to announce that Binance Bahrain received a category 4 license as a Crypto Asset Provider (CASP) from the Central Bank of Bahrain (CBB) on May 24, 2022.” Read the announcement.
A category-4 license seeks to cater to the business models of specialist fund managers who operate or manage market collective investment undertakings (CIUs). Introduced in September 2021, the license brings crypto exchanges under the purview of Bahrain’s regulations and creates a conducive environment for the Middle East country to progressively adopt digital asset regulations without stifling innovation.
On Thursday, Binance announced that it had received a Category 4 License as a crypto assets service provider (CASP) from the Central bank of Bahrain.
“Binance is extremely proud to announce that Binance Bahrain received a category 4 license as a Crypto Asset Provider (CASP) from the Central Bank of Bahrain (CBB) on May 24, 2022.” Read the announcement.
A category-4 license seeks to cater to the business models of specialist fund managers who operate or manage market collective investment undertakings (CIUs). Introduced in September 2021, the license brings crypto exchanges under the purview of Bahrain’s regulations and creates a conducive environment for the Middle East country to progressively adopt digital asset regulations without stifling innovation.
BAYC’s Yuga Labs Files Lawsuit Against RR/BAYC Creator Ryder Ripps
Yuga Labs, the NFT company behind BAYC and MAYC, has filed a suit against American conceptual artist and creator of NFT collection RR/BAYC, Ryder Ripps, and his partner Jeremy Cahen. Yuga Labs claims the creative director is “scamming consumers by misusing Yuga Labs’ trademarks.”
Yuga Labs accuses Ryder Ripps of intentional copyright infringementsIn the lawsuit filed on June 25, Yuga Labs pointed out Ripps’ deliberate attempts at making a caricature of the uniqueness of the BAYC collections by knowingly creating copycat NFTs using the exact same trademarks and marketing them to the general public.
Going further, Yuga noted that these copyright infringements are “not accidental”, but rather “calculated, intentional, and willful with the stated purpose of causing actual and monetary harm to Yuga Labs and to the holders of authentic Bored Ape Yacht Club NFTs.” The firm seeks a jury trial.
Yuga Labs, the NFT company behind BAYC and MAYC, has filed a suit against American conceptual artist and creator of NFT collection RR/BAYC, Ryder Ripps, and his partner Jeremy Cahen. Yuga Labs claims the creative director is “scamming consumers by misusing Yuga Labs’ trademarks.”
Yuga Labs accuses Ryder Ripps of intentional copyright infringementsIn the lawsuit filed on June 25, Yuga Labs pointed out Ripps’ deliberate attempts at making a caricature of the uniqueness of the BAYC collections by knowingly creating copycat NFTs using the exact same trademarks and marketing them to the general public.
Going further, Yuga noted that these copyright infringements are “not accidental”, but rather “calculated, intentional, and willful with the stated purpose of causing actual and monetary harm to Yuga Labs and to the holders of authentic Bored Ape Yacht Club NFTs.” The firm seeks a jury trial.
Top Crypto Analyst Explores Bitcoin (BTC) Market Structure That Is Giving Traders ‘Nightmares’
A popular crypto strategist says Bitcoin (BTC) is forming a structure that tends to give traders sleepless nights.
The pseudonymous analyst Inmortal tells his 174,000 Twitter followers about Bitcoin’s recent pattern of long consolidation followed by a brief rally and then a deeper decline in prices.
A popular crypto strategist says Bitcoin (BTC) is forming a structure that tends to give traders sleepless nights.
The pseudonymous analyst Inmortal tells his 174,000 Twitter followers about Bitcoin’s recent pattern of long consolidation followed by a brief rally and then a deeper decline in prices.
IMF: Crypto Assets Become More Mainstream as Hedges Against Weak Currencies, Potential Payment Instruments
The International Monetary Fund (IMF) published a report stating that crypto assets have gained a “more mainstream presence as speculative investments, hedges against weak currencies, and potential payment instruments.” The IMF has called for a global response to crypto regulation that is coordinated, consistent, and comprehensive.
IMF Officials on Crypto Regulation, Mainstream AdoptionThe International Monetary Fund (IMF) published a report noscriptd “Regulating Crypto: The right rules could provide a safe space for innovation” in the September edition of its flagship Finance & Development magazine. The report is authored by IMF’s Monetary and Capital Markets Department deputy director Aditya Narain and assistant director Marina Moretti.“Crypto assets have been around for more than a decade, but it’s only now that efforts to regulate them have moved to the top of the policy agenda,” the report describes, elaborating:
It’s only in the past few years that crypto assets have moved from being niche products in search of a purpose to having a more mainstream presence as speculative investments, hedges against weak currencies, and potential payment instruments.
The International Monetary Fund (IMF) published a report stating that crypto assets have gained a “more mainstream presence as speculative investments, hedges against weak currencies, and potential payment instruments.” The IMF has called for a global response to crypto regulation that is coordinated, consistent, and comprehensive.
IMF Officials on Crypto Regulation, Mainstream AdoptionThe International Monetary Fund (IMF) published a report noscriptd “Regulating Crypto: The right rules could provide a safe space for innovation” in the September edition of its flagship Finance & Development magazine. The report is authored by IMF’s Monetary and Capital Markets Department deputy director Aditya Narain and assistant director Marina Moretti.“Crypto assets have been around for more than a decade, but it’s only now that efforts to regulate them have moved to the top of the policy agenda,” the report describes, elaborating:
It’s only in the past few years that crypto assets have moved from being niche products in search of a purpose to having a more mainstream presence as speculative investments, hedges against weak currencies, and potential payment instruments.
Crypto Exchange Bittrex Fined $30 Million For Breaking US Sanctions
Crypto exchange Bittrex has settled with the US Treasury department over allegations that the firm violated the sanctions imposed by the OFAC by engaging with users from the sanctioned jurisdictions.
Bittrex Will Pay $30 Million To The US Treasury As Settlement Money.
The US Treasury Department has imposed a $30 million fine on the cryptocurrency exchange Bittrex. The department alleged that Bittrex had violated US sanctions by permitting users from Cuba, the Crimea region of Ukraine, Iran, Sudan, and Syria to conduct cryptocurrency proceedings through the Bittrex platform.
Crypto exchange Bittrex has settled with the US Treasury department over allegations that the firm violated the sanctions imposed by the OFAC by engaging with users from the sanctioned jurisdictions.
Bittrex Will Pay $30 Million To The US Treasury As Settlement Money.
The US Treasury Department has imposed a $30 million fine on the cryptocurrency exchange Bittrex. The department alleged that Bittrex had violated US sanctions by permitting users from Cuba, the Crimea region of Ukraine, Iran, Sudan, and Syria to conduct cryptocurrency proceedings through the Bittrex platform.
Celsius Mining Owes $5.4 Million In Hosting Fees Says Core Scientific, Crypto Miner After Legal Recovery
Summary:
Core scientific intends to pursue a claim against bankrupt crypto lender Celsius and the company’s mining business.A filing with the U.S. Securities and Exchange Commission on Wednesday said Core Scientific plans to “vigorously defend its interests” during the ongoing bankruptcy proceedings.The crypto miner claims that Celsius Mining owes around $5.4 million for hosting services.Legal counsel for the troubled crypto lender previously argued that Core Scientific violated bankruptcy protection by debt recovery. Core Scientific submitted a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday in line with the company’s plan to recover $5.4 million owed by Celsius Mining, the digital asset mining business attached to the bankrupt crypto lender.
The company runs crypto mining operations as well as hosting services as part of its revenue generation strategy. Prior to its chapter 11 bankruptcy filing in July 2022, Celsius and Core Scientific had an agreement where Core Scientific provided crypto hosting for the lender’s mining business.
Summary:
Core scientific intends to pursue a claim against bankrupt crypto lender Celsius and the company’s mining business.A filing with the U.S. Securities and Exchange Commission on Wednesday said Core Scientific plans to “vigorously defend its interests” during the ongoing bankruptcy proceedings.The crypto miner claims that Celsius Mining owes around $5.4 million for hosting services.Legal counsel for the troubled crypto lender previously argued that Core Scientific violated bankruptcy protection by debt recovery. Core Scientific submitted a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday in line with the company’s plan to recover $5.4 million owed by Celsius Mining, the digital asset mining business attached to the bankrupt crypto lender.
The company runs crypto mining operations as well as hosting services as part of its revenue generation strategy. Prior to its chapter 11 bankruptcy filing in July 2022, Celsius and Core Scientific had an agreement where Core Scientific provided crypto hosting for the lender’s mining business.
Uncertainty Looms Amid Binance’s Failed Acquisition Of The FTX Crypto Exchange
On November 2, 2022, the Fed raised its key interest rates by 75 basis points for the fourth time this year, bringing the target range for the federal funds rate to 3.75 to 4 percent. Immediately following the Fed rate announcement, the price of Bitcoin remained above US$20,000, as the markets had anticipated an interest rate hike of this magnitude.
A few days following the latest Fed interest rate hike, the price of Bitcoin even rose to over US$ 21,000. However, the Bitcoin price rally was short-lived following insolvency rumours at the FTX crypto exchange. CoinDesk had reported that Alameda Research, a trading firm founded by Sam Bankman-Fried (SBF), founder and CEO of FTX, held a significant amount of FTT tokens on its balance sheet.
On November 2, 2022, the Fed raised its key interest rates by 75 basis points for the fourth time this year, bringing the target range for the federal funds rate to 3.75 to 4 percent. Immediately following the Fed rate announcement, the price of Bitcoin remained above US$20,000, as the markets had anticipated an interest rate hike of this magnitude.
A few days following the latest Fed interest rate hike, the price of Bitcoin even rose to over US$ 21,000. However, the Bitcoin price rally was short-lived following insolvency rumours at the FTX crypto exchange. CoinDesk had reported that Alameda Research, a trading firm founded by Sam Bankman-Fried (SBF), founder and CEO of FTX, held a significant amount of FTT tokens on its balance sheet.