FTX’s debtors have filed an amended Chapter 11 reorganization plan, marking a significant development in the once-popular cryptocurrency exchange’s ongoing bankruptcy case. The revised plan includes an important provision that establishes the value of cryptocurrency claims based on their cash value at the time of FTX’s bankruptcy filing on November 11, 2022. This decision comes amid a cryptocurrency market where the value of many digital assets is fluctuating, including: Bitcoin has shown a notable recovery since its bankruptcy date. Impact on Creditors and Market Recovery FTX’s bankruptcy had a significant impact on the cryptocurrency market, contributing to its decline in…
Author: Crypto Flexs
Read More
One cryptocurrency strategist believes that an altcoin that trades below the radar could repeat its mid-2020 price action to reap huge gains. Supply chain management blockchain VeChain (VET) is poised to break out of immediate resistance at $0.033, analyst Ali Martinez told his 35,900 followers on social media platform X. According to analysts, VET appears to be reflecting the consolidation between 2018 and 2020, and a breakout could push the altcoin to its long-term target of $0.70. “VChainthe forgotten chinese Ethereum, appears to reflect the consolidation phase seen in 2018-2020! then, veterinarian It may break the $0.033 resistance barrier in…
FTX Debtors Estate filed a Chapter 11 amendment to its reorganization plan today, leaving investors’ creditors dazed as to what’s next for the defunct exchange. According to the proposed plan, the estate, led by CEO John Ray III and Sullivan & Cromwell’s legal team, seeks to value its cryptocurrency claims at what they were when the company filed for bankruptcy last year, rather than at their current market value. FTX Debtor’s Resolution Plan The collapse of FTX in November 2022 sent ripples throughout the cryptocurrency industry, which are still being felt today, a year later. The collapse sent already struggling…
Find out how the Christmas cryptocurrency market is showing unique trends and what to expect from the holiday season. As the world is decorated with festive lights and the spirit of Christmas fills the air, cryptocurrency markets often experience seasonal surges as well. Historical data and expert analysis show that major holidays, including Christmas, can cause noticeable changes in trading patterns and market sentiment. During the Christmas period, traditional markets are usually closed, providing a unique playground for cryptocurrency markets. This period was sometimes marked by the so-called Santa Claus rally, a phenomenon in which investors witnessed a surge in…
“The Commission disagrees with the petition’s argument that it is impossible to apply existing securities laws and regulations to crypto-asset securities, issuers of such securities, and intermediaries in the trading, settlement and custody of such securities,” the five-member committee said. concluded: The two-page response said the agency had carefully considered the request. “The Committee concludes that the requested rulemaking is not warranted at this time and denies the petition.”
Ethereum price is falling below the $2,200 support level again. ETH is showing some signs of weakness and may fall further below $2,000. Ethereum began a new downtrend at the $2,330 resistance zone. The price is trading below $2,220 and the 100-hour simple moving average. The hourly chart of ETH/USD (data feed via Kraken) shows a bearish trend line tying with resistance near $2,210. A break below the $2,135 support could push the pair lower. Ethereum price falls again Ethereum price failed to gain strength to gain more than the $2,300 resistance level. ETH peaked near $2,330 and, like Bitcoin,…
As speculation continues surrounding the surge in prices of major cryptocurrencies and altcoins, prominent venture capitalist Ran Nuener urges his massive online audience to adopt a more cautious approach. He suggests viewing the situation as a marathon rather than a sprint. “The winner is the one who ultimately wins. Those who run too fast at first will get a REKT!” Neuner said. Investors should approach the cryptocurrency bull market with caution In a recent X (formerly Twitter) post, Neuner advised his 736,400 followers not to rush into the cryptocurrency market as prices continue to trend upward across the board. “Treat…
reporter Posted on: December 18, 2023 The Avalanche’s daily active addresses and TVL have increased dramatically over the past month. AVAX is up 30% over the past seven days, but the indicator has turned downward. Avalanche (AVAX) There has been a huge spike in fees generated recently, reflecting high usage. While this may seem like a positive sign only for blockchain, it could have broader implications for the ecosystem, as historically such events have always been accompanied by price increases. What is the avalanche doing? Renowned DeFi researcher Thor Hartvigsen recently posted a tweet announcing a major development in the…
Bitcoin price again failed to break above the $43,500 resistance level. BTC has started a new decline and may soon revisit the $40,000 support. Bitcoin is falling below the $42,000 support zone. The price is trading below $42,000 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bearish trendline forming with resistance near $41,800. The pair may see strong buying interest near the $40,600 and $40,000 levels. Bitcoin price falls below $42,000 Bitcoin price attempted to rise further above the $43,000 level. However, BTC failed to clear the $43,500…
Decentralized finance protocol Yearn Finance suffered major losses this week when a technical scripting error led to $1.4 million being drained from the protocol’s treasury. The incident occurred on December 11 during the routine process of converting Yearn’s yVault LP tokens to stablecoins via a swap on decentralized exchange CowSwap. key point An incorrect multi-signature script resulted in Yearn Finance’s entire treasury balance of 3,794,894 lp-yCRVv2 tokens being exchanged, resulting in a loss of $1.4 million. An error occurred while Yearn was converting LP tokens to stablecoins on CowSwap. The significant decline resulted in a 63% drop in the value…