Posted 1 minute ago In ~ Terraform Labs Pte. Lte. According to the Bankruptcy Protection Agency, a Chapter 11 bankruptcy application was filed in the U.S. Bankruptcy Court in the District of Delaware on January 21. Court’s website. The company’s liabilities are estimated at between $100 million and $500 million, and its assets are in the same range, the filing showed. Terraform Labs is the company behind algorithmic stablecoin TerraUSD and sister cryptocurrency Luna, which collapsed in May 2022. U.S. Securities and Exchange Commission charged The company’s then-CEO Kwon Do-hyung was accused of fraud in February 2023.The bankruptcy filing will…
Author: Crypto Flexs
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Some of the most active video game studios are using generative AI to automate tedious elements of game design like NPC dialogue and generate new levels of detail for in-game rendering. This is all in an effort to speed up development and focus human talent where it matters more. coercion.Generative AI is artificial intelligence that can generate new content such as text, images, and music using prompts. It learns from large amounts of data and uses that data to create new and complementary content, from simple sentences to videos to complex works of art.It’s a technology that has only recently…
Metamask has begun testing a new technology to help Ethereum users collaborate with third parties to improve the efficiency and economics of cryptocurrency trading. If successful, this feature will give users more control over how transactions are performed, effectively changing the power shift between validators and users. The “Transaction Routing” feature is being developed in collaboration with Special Mechanisms Group (SMG), a subsidiary of Consensys. MetaMask’s parent company, Consensys, confirmed testing of this feature to CoinDesk. The development of this feature marks a change in the blockchain paradigm, allowing for more user-friendly and effective transactions. ETH trading prices are high…
join us telegram A channel to stay up to date on breaking news coverage The Pyth Network price has risen 21% in the last 24 hours, trading at $0.4146 as of 10:40 AM ET, with volume up more than 50%. This is part of a recovery rally that lasted from November to the first week of January, with PYTH bulls trying to regain lost ground. Meanwhile, as the hype for the token recovers, staking features will continue with stakers participating in Pyth Network governance. 🔮 $PYTH 🔮 I really hope you guys are betting. $PYTH I have very strong feelings…
MATIC’s Weighted Sentiment slipped deeper into negative territory. Polygon’s NFT marketplace continues to grow, generating $90 million in sales as of January. Polygon (MATIC) rose nearly 3% over the last 24 hours of trading, ending a losing week that saw the cryptocurrency’s market value fall 9.7%, according to data from CoinMarketCap. Source: CoinMarketCap But it’s not what you think! Counterintuitively, MATIC’s USD trading volume has fallen by more than 50% over the same period, according to AMBCrypto’s analysis of Santiment data. Typically, low volume during an uptrend is interpreted as a bearish signal. This is because the trader is not…
According to a recent cryptocurrency crime report from blockchain analytics company Chainalytic, the majority (about 99.6%) of cryptocurrency transactions are used for legal purposes. This research sheds light on the evolving cryptocurrency landscape and challenges widespread narratives surrounding illicit activity in the cryptocurrency space. According to the report, the total value of cryptocurrency sent to illicit addresses decreased significantly from $39.6 billion in 2022 to $24.2 billion in 2023. The 2022 figure is partly inflated by the $8.7 billion in FTX creditor claims following the Sam Bankman collapse. A startup led by Freed. Cryptocurrency is legal, Chainalysis says. According to…
What is the difference between securities and collectibles? This question is at the heart of the Securities and Exchange Commission’s lawsuit against Coinbase. Coinbase accuses the company of selling unregistered securities and operating an unlicensed staking service program. But after the SEC’s lawyers faced pointed questions from New York District Judge Katherine Polk Failla, who wondered whether the SEC’s definition of collectibles was too broad, a Bloomberg analyst estimated that Coinbase currently has the upper hand in the case. “The judge wanted a limiting principle in the SEC’s definition of “investment agreements,” which does not include collectibles. We see what…
The funding round, which gave Root a $100 million valuation, was led by Animoca Brands and included contributions from Signum Capital, Ankr Network, CMS Holdings, and numerous other high-profile investors, including angel investors Tekin Salimi and Meltem Demirors.
Spot Bitcoin ETF applications have seen light at the end of the US tunnel. The US SEC gave the green light last week, paving the way for ETFs of other cryptocurrency tokens. There’s a lot of talk around town about whether an Ether ETF could be the next offering, and companies like BlackRock are making moves. Now it is South Korea that has sent a message to financial regulators, asking them to consider approving spot Bitcoin ETFs in the region. If approved, its functionality will be virtually identical to the product on American soil. Seong Tae-yoon confirmed that this communication…
Legal Tug-of-War Intensifies in Ripple and SEC Saga.Ripple Labs is currently contesting a recent move by the U.S. Securities and Exchange Commission (SEC) to obtain additional financial documents, calling the request untimely and irrelevant. In a new twist to the ongoing legal drama, Ripple’s legal team argues that the SEC’s demands for more data after the discovery phase deadline are unjustified.The SEC’s demands were met with firm resistance.Ripple’s lawyers argue in a Jan. 19 legal filing that the SEC’s recent request for access to audited financial statements for 2022 and 2023, along with details of XRP-related contracts and institutional sales,…