The U.S. government’s claims against bankrupt cryptocurrency exchange FTX are expected to total between $3 billion and $5 billion, subject to changes and negotiations with the authorities, according to a court filing on Wednesday.The total amount of the U.S. tax claim is still uncertain, the filing in the U.S. District Court for the Southern District of New York said, but once all government and tax claims are paid, the debtor can use any remaining proceeds to distribute to shareholders.However, it is important to note that under Chapter 11 priorities for real estate, FTX customers, Alameda Research lenders, administrative fees and…
Author: Crypto Flexs
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As the cryptocurrency market approaches the expected Bitcoin halving on April 25, 2024, supply and demand dynamics have set the stage for a parabolic bull market. Unlike previous cycles, this year’s start signals an optimistic picture for Bitcoin, driven by increased institutional adoption and expanding use cases. Why Halving Puts Bitcoin in a Parabolic Bull Market The approval and success of the spot Bitcoin exchange-traded fund (ETF) marks a historic milestone in the cryptocurrency journey. Bitcoin has seen a significant price rise of 60% since its launch and trading volume has reached unprecedented highs. The influx of institutional interest in…
The SEC has postponed its ruling on Hashdex and Ark 21Shares’ spot Ethereum ETF applications until May 2024, signaling a cautious approach toward cryptocurrency ETFs. The U.S. Securities and Exchange Commission (SEC) has once again extended the decision timeline regarding the spot Ethereum exchange-traded fund (ETF) proposed by Hashdex and Ark 21Shares. Regulators have set May 2024 as the new deadline because they need additional time to assess the impact and potential regulatory issues that could arise from bringing these products to market. This move is another example of the SEC’s cautious approach to cryptocurrency ETFs. Despite increasing interest and…
It has been reported that the U.S. SEC is investigating the operations of the Ethereum Foundation. Despite regulatory developments, the price of ETH has remained relatively unwavering. Ethereum (ETH) has been facing tremendous volatility over the past few days, which can be partially attributed to its correlation with Bitcoin (BTC). Recent events may further amplify the volatility that ETH has been facing. face a problem According to recent reports, the SEC has begun legal initiatives to potentially classify Ethereum as a security. The regulator has issued subpoenas to several companies as part of its investigation into Ethereum, focusing in particular…
Cryptocurrency Fantom (FTM), known for its high-speed smart contract platform, has been making headlines with its recent price movements and market predictions. As of the latest data, Fantom ranks 43rd with a market capitalization of $2.9 billion and trading volume of $863 million over the last 24 hours.. The current value of Phantom is $1.06, an increase of 6.5% in the last 24 hours. recent developments Recently, Fantom announced a significant reduction in the minimum staking requirement for validators from 500,000 FTM to 50,000 FTM.. This move was aimed at strengthening engagement and engagement within the Phantom ecosystem. Despite facing…
Cayman, Cayman Islands, March 20, 2024, Chainwire zbyte, the pioneering Web3 infrastructure platform, announces the release of a groundbreaking SDK, setting a new standard for ease of blockchain development and accelerating the growth of the Web3 ecosystem. This SDK launch is a pivotal step in zbyte’s mission to democratize blockchain technology and make it accessible and practical for creators, entrepreneurs, and developers around the world. Empowering creators with innovative tools: zbyte SDK is designed to remove the complexities traditionally associated with blockchain development. zbyte’s innovative approach makes wallet creation easy and integrates seamlessly into existing web or mobile apps with…
As the U.S. Securities and Exchange Commission investigated the Ethereum Foundation, the status of Ethereum, the world’s second largest cryptocurrency, became unclear. Industry insiders believe the investigation aims to classify Ethereum (ETH), Ethereum’s native token, as a security, a move that could have a major impact on the cryptocurrency market. Ethereum Regulatory Landscape: Recent Developments This development comes amidst a flurry of activity surrounding Ethereum. Major financial institutions such as BlackRock and Fidelity have applied for spot Ether ETFs, and the controversial Prometheum is seeking to offer Ether custody under SEC supervision. But the SEC’s recent actions have cast a…
The Real World Asset (RWA) token market cap is now $5.54 billion, up from the previous year. 31% Over the past 24 hours, according to CoinGecko data.Among the top five tokens in the RWA token subsector, the ones with the biggest gains are: police +70.36% The default token of In the past 24 hours, the PolyMesh blockchain surged 86.5%, centrifuges rose 46.5%, and temperature rose 33%.Polymesh is a blockchain project specifically designed for security tokens and is one of many protocols involved in the tokenization of real-world assets, where the rights to the asset are converted to digital tokens on…
With the escalating excitement surrounding NFTs, an increasing number of individuals are intrigued by the process of creating these digital assets. As interest in NFTs continues to rise, more people are eager to explore this innovative trend and grasp how they can benefit from it. In this comprehensive guide, you’ll discover the steps involved in crafting an NFT and leveraging its potential to your advantage. Additionally, you’ll gain insights into the potential uses and applications of NFTs beyond the realm of art, including in gaming, music, and collectibles. Furthermore, we’ll delve into strategies for marketing and promoting your NFTs effectively…
Economists are supporting the Honduran government’s decision to withdraw from ICSID amid a $10.8 billion claim from Prospera Inc., a cryptocurrency island company affected by the legislative change. Eighty-five economists have publicly supported the Honduran government’s decision to withdraw from the International Center for Settlement of Investment Disputes (ICSID), the World Bank’s arbitration arm. The support comes against the backdrop of controversy with Prospera Inc., a company specializing in creating cryptocurrency-based islands, which has filed a claim for as much as $10.8 billion in damages over changes to the law enacted in 2022. The support from economists reflects growing concerns…