Major Bitcoin miner Core Scientific has provided a comprehensive explanation of its bankruptcy plan, which could be approved by the court and allow the company to emerge from Chapter 11 bankruptcy. The reorganization plan, scheduled to take effect on January 5, 2024, entails significant changes not only in the financial environment but also in the business environment. Through implementation of this plan, Core Scientific will emerge from bankruptcy proceedings with net debt of $709 million and equity value of $791 million. The debt maturing by 2025 is only $46 million, so the plan is to manage the debt efficiently. The…
Author: Crypto Flexs
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The Internal Revenue Service (IRS) recently announced significant changes regarding the reporting of cryptocurrency transactions by U.S. companies. Initially, as part of the Infrastructure Investment and Jobs Act passed in November 2021, businesses were required to report cryptocurrency transactions over $10,000 to the IRS just like cash transactions. However, this requirement has been temporarily put on hold until a comprehensive regulatory framework is established. This development, announced on January 16, 2024, indicates that the IRS has taken a step back in enforcing the new rules that took effect on January 1, 2024. This decision was influenced by changes to the…
For the past few months, the cryptocurrency internet has been dominated by Bitcoin ETF discussions. And there’s a reason for that. With a market capitalization of $835.7 billion, the pioneering cryptocurrency accounts for 49% of the total cryptocurrency market, comprising tens of thousands of tokens.In Bitcoin’s 15-year life cycle, exchange-traded funds (ETFs) represent a pivotal branch, a milestone in its legitimacy. Bitcoin, once derided as a “scam” similar to tulip mania, “rat poison” or “money laundering indices”, has shed this rag of recognition and replaced it with an entirely new coat of arms when it enters the ETF arena.long-term flowing…
BitTorrent Chain, a joint project between BitTorrent and TRON, has reflected its performance in 2023. First of all, BitTorrent highlighted that it was able to keep its total trading volume at new highs while keeping its market capitalization stable. 33.61%. Its current value stands at $16.06 million. BitTorrent has ventured to explore the DeFi sector, decentralized finance. So far, we have integrated several projects into the mainstream. These include SpookySwap, Sushi, Kyberswap, etc. That said, BitTorrent is confident about its upcoming projects, from Pyth.network to Graph, which are scheduled to launch in 2024. This is a tentative schedule and the…
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only. As the cryptocurrency market heads toward a massive rally, experts are discussing the potential future of Ethereum, the leading smart contract-based blockchain. One analyst predicts that ETH will reach $10,000 by the end of 2024. Analysts are also bullish on Bitcoin Minetrix, which has surpassed $8.6 million in ongoing presales. dot Tailwind for Ethereum ETF with ETH reaching $10,000? Renowned analyst, angel investor, and key opinion leader (KOL) Anthony Sassano believes that Ethereum could reach $10,000 by the end…
Socket Protocol lost $3.3 million due to a vulnerability in one of its exchanges. The Socket Protocol team took quick action to prevent damage. Socket Protocol, a cross-chain infrastructure protocol that powers a variety of Web3 apps, recently suffered significant financial losses due to a serious security breach. The attack specifically targeted Bungee Exchange within the socket protocol, causing $3.3 million in losses. Another day, another hack As reported by the Socket Protocol team, the hack occurred on January 16th. To mitigate the risk, Socket disabled compromised smart contracts. urgent Sockets experienced a security incident affecting wallets that had infinite…
In a recent technical update, EGRAG Crypto presented a compelling case for the XRP price with historical comparisons that suggest a significant upward trend. The focus of his analysis is the Average Sentiment Oscillator (ASO). ASO is an indicator that provides insight into market sentiment by displaying the ratio of bullish and bearish views as blue and red lines, respectively. XRP price on course reaches $27 Updated ASO charts shared by EGRAG Crypto highlights the bullish crossover that occurred on October 3, 2023. This event is very important because it signals a change in market sentiment favoring a bullish outlook.…
In an interview with CNBC at the World Economic Forum in Davos, Switzerland yesterday, Ripple CEO Brad Garlinghouse said securities regulators that are “hostile” toward the cryptocurrency industry will not make IPOs an immediate priority in the United States. He said no.“Trying to open up to a very hostile regulator that has to approve the S-1 doesn’t seem like a lot of fun to me,” Garlinghouse said. “Coinbase apparently received S-1 approval, and now the Securities and Exchange Commission is suing Coinbase for doing the work described in the S-1.” The S-1 Prospectus is a form filed with the SEC…
Former Spanish Football Federation President Luis Rubiales, who is currently accused of sexual assault, has launched an NFT collection to support ‘true equality’. Former Spanish Football Federation (RFEF) president Luis Rubiales, who resigned after being accused of sexual assault, is expected to launch a collection of non-fungible tokens (NFTs) featuring his childhood images. This message is for those who support true equality, not radicalism or media manipulation.This message is for those who support true equality, not radicalism or media manipulation.⚖️🏆Link NFT 17/1/2024: https://t.co/PoGaDKakrZ pic.twitter.com/KVfINtr6X6— Luis Rubiales (@LuisRubiales17) January 16, 2024 On the 16th, Rubiales posted a screen copy of a…
Cryptocurrencies have taken the financial world by storm in recent years. From pioneering Bitcoin to popular Ethereum, there are many options to choose from when investing in digital currencies. However, there is a new player who is quickly gaining attention. It is EZCoin. In this article, we will find out what EZCoin is and why it is being touted as the next big thing in cryptocurrency. What is EZCoin? EZCoin is a new cryptocurrency that aims to revolutionize the way we think about digital currencies. It is built on cutting-edge blockchain technology that promises faster transaction times and lower fees…