U.S. Judge John Dorsey of the Delaware Bankruptcy Court has scheduled a hearing early next year to calculate the cryptocurrency exchange’s debt to the IRS, a sticking point that has stalled efforts to compensate the exchange’s many victims. Claims from the IRS, FTX’s largest creditor, must be resolved before FTX victims can recover their losses.
Author: Crypto Flexs
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Market • December 13, 2023 2:27 PM EST Posted 1 minute ago In ~ bitcoin BTC +4.66% Prices rose on Wednesday as the U.S. Federal Reserve left interest rates at current levels, as expected.The Federal Open Market Committee left the federal funds rate unchanged at its current range of 5.25%-5.50%, as most analysts had predicted. The move marked the fourth interest rate freeze this year after the central bank kept rates steady in November, September and June.“Tighter financial and credit conditions for households and businesses are likely to put a strain on economic activity, employment, and inflation,” the central bank…
“The next generation of markets, the next generation of securities will be tokenization of securities,” said BlackRock CEO Larry Fink. He’s not wrong. The securities industry has played a key role in making tokenization visible and popular. However, with recent innovations, asset tokenization is now much bigger than financial securities. With a market potential of $16 trillion by 2030, tokenization has become a way to bring real-world assets (RWA) on-chain for better discovery, accessibility, and efficiency. This provides a much-needed bridge between TradFi and DeFi. But thanks to the unique and exclusive RWA we are building. planet, tokenization will lay…
Victoria, Seychelles, December 13, 2023, Chainwire The world’s best bitget cryptocurrency exchange and Web3 companies announced the listing of MultiBit (MUBI). Representing a groundbreaking advancement, MultiBit is the industry’s first two-sided bridge, carefully crafted to facilitate easy cross-network transfers between BRC20 and ERC20 tokens. In its efforts to improve liquidity and cross-chain interoperability, MultiBit has achieved pioneering results. Promising unparalleled ease and advanced accessibility, MultiBit provides a secure and user-friendly platform for stakeholders in the cryptocurrency space. The platform’s pivotal mission is to increase liquidity and accessibility of BRC and ERC tokens while maintaining strong security measures. In particular, MultiBit…
A total of $1.7 billion has flowed into Bitcoin (BTC) since the beginning of the year, with an additional $20 million worth of institutional funds flowing in over the past few weeks alone. Additionally, there was a lot of capital inflow. This is because it shows the high demand from investors for Bitcoin.ETF excitement fuels Bitcoin’s surgeWith all the hype surrounding the possible approval of a dozen index-based spot exchange-traded funds, this is despite the fact that Bitcoin is experiencing spectacular growth. This could create a positive atmosphere among investors, who see it as a necessary incentive for traditional financial…
Riyadh, Saudi ArabiaDecember 13th2023 / AlexaBlockchain/ – The jointly held DATE AI Show and DATE Fintech Show kicked off its first day on December 11, 2023 at JW Marriott Hotel Riyadh and successfully brought together renowned AI and Fintech experts, innovators, investors, policy makers and entrepreneurs. The collective plenary session showcased the Kingdom of Saudi Arabia’s important role in driving global AI and fintech-led digital transformation. With the surge in service digitization and the integration of AI and fintech solutions, co-hosted events have played an important role as catalysts for innovators to connect, network and collaborate with top technology leaders…
Decentralized finance protocol Yearn.finance is hoping an arbitrage trader will return $1.4 million in funds after a multi-signature scripting error, depleting a significant portion of the protocol’s funds.“An incorrect multisig script led to the exchange of 3,794,894 lp-yCRVv2 tokens, Yearn’s entire treasury balance,” Yearn contributor “dudesahn” said in a Dec. 11 GitHub post. An error occurred while converting yVault LP-yCurve (lp-yCRVv2), which Yearn earned as a performance fee for vault harvesting, to a stablecoin on decentralized exchange CowSwap. $1.4 million loss Yearn Finance said the faulty script caused its treasury fund to lose about $1.4 million.Their team later claimed that…
Bitcoin (BTC) and cryptocurrencies may soon see another massive wave of adoption among U.S.-based businesses following new accounting rule changes that will allow companies to more accurately reflect the value of their cryptocurrency holdings. Cory Klippsten, CEO of Swan Bitcoin, a Bitcoin-only exchange, told Cointelegraph that both MicroStrategy and Bitcoin-holding companies like Tesla have been required to report impairments in their holdings, which “now more accurately reflects the actual value of Bitcoin investments.” “You can do it,” he said.“This change is important for companies primarily focused on Bitcoin, as well as a broad range of companies to encourage more mainstream…
Bitwise Invest, an investment company specializing in cryptocurrency, recently unveiled its highly anticipated cryptocurrency. prediction 2024. These predictions provide a glimpse into the future of the cryptocurrency industry, highlighting key milestones and potential breakthroughs for the largest cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) and exchanges like Coinbase. Bitcoin is expected to break records Bitwise’s first prediction suggests that Bitcoin will surpass previous records and trade above $80,000, setting a new all-time high. The company attributes this optimistic outlook to two key catalysts. Spot Bitcoin Exchange Traded Fund (ETF) is expected to launch in early 2024 and new Bitcoin supply…
A little more than a year after the collapse of the FTX cryptocurrency exchange, the Commodity Futures Trading Commission voted to propose rules that would strengthen customer protections for those trading through derivatives clearing houses.The rules, called “Protection of Clearing Member Funds Held by Derivatives Clearing Agencies,” require institutions and DCOs registered for clearing transactions to segregate client funds, including money from individual investors, from their own home funds. CFTC Commissioners Summer Mersinger and Christy Goldsmith Romero voted against, while CFTC Commissioner Kristin Johnson and CFTC Chairman Rostin Behnam voted in favor on Wednesday. Commissioner Caroline Pham agreed. This proposal…