Posted on 29. Januar 2023 in Allgemein
• A bill has been introduced in the state of New York that would allow state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash.
• The legislation proposes allowing crypto to be used as „a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,“ and more.
• New York State Assembly member Clyde Vanel introduced the bill, which has been referred to the New York State Assembly Committee on Government Operations.
The U.S. state of New York is considering a bill that would authorize state agencies to accept cryptocurrency payments, including bitcoin, ether, litecoin, and bitcoin cash. Assembly Bill A2532, introduced by New York State Assembly member Clyde Vanel this week, proposes allowing crypto to be used as „a means of payment of fines, civil penalties, rent, rates, taxes, fees, charges,“ and more.
The bill, which has been referred to the New York State Assembly Committee on Government Operations, seeks to amend New York’s state finance law by adding „cryptocurrency as a form of payment.“ The legislation defines cryptocurrency as „any form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank including but not limited to, bitcoin, ethereum, litecoin, and bitcoin cash.“
If the bill passes, it would authorize state agencies to enter into agreements with individuals or entities to accept cryptocurrency payments for fines, civil penalties, rent, rates, taxes, fees, charges, revenue, financial obligations or other amounts, including penalties, special assessments and interest, owed to state agencies.
The bill comes at a time when cryptocurrency has been gaining more traction and acceptance in a variety of industries. This includes the use of cryptocurrency in the travel industry, with companies such as Expedia, CheapAir, and AirBaltic all accepting cryptocurrency payments.
The potential of cryptocurrency to revolutionize the financial industry has also been recognized by a number of major companies, such as Microsoft, which now accept cryptocurrency payments. If the bill passes, it would mark a major step forward for cryptocurrency, as the state of New York would be among the first to accept the digital currency as a form of payment.
Posted on 29. Januar 2023 in Allgemein
• Sam Bankman-Fried, co-founder of FTX, is seeking the removal of bail restrictions on crypto asset transfers that have been imposed by Judge Lewis Kaplan.
• Bankman-Fried’s attorney, Mark Cohen, argues that the existing bail conditions are unfair and should be removed.
• Cohen requests that the court remove two additions to Bankman-Fried’s bail conditions that prohibit him from speaking with certain individuals.
Sam Bankman-Fried, the disgraced co-founder of FTX, is seeking the removal of bail restrictions on crypto asset transfers that have been imposed by Judge Lewis Kaplan. Bankman-Fried was indicted by a federal grand jury in Manhattan and faces eight charges, including wire fraud, commodities fraud, securities fraud, money laundering, and campaign finance violations. He was released on bail, with certain conditions attached that limit his access to crypto assets.
Bankman-Fried’s attorney, Mark Cohen, has argued that the existing bail conditions are unfair and should be removed. In a letter to the Southern District of New York (SDNY) judge Lewis Kaplan, Cohen requested that “two additions” be removed from Bankman-Fried’s bail conditions. The first addition prohibits Bankman-Fried from speaking with Caroline Ellison, Gary Wang, Nishad Singh, two redacted witnesses, and George Lerner (Bankman-Fried’s therapist). Cohen insists that the bail condition is “overbroad” and that Bankman-Fried’s intentions to contact these individuals are attempts to offer assistance in FTX’s bankruptcy process.
The second addition to Bankman-Fried’s bail conditions that Cohen requests be removed is the restriction on Bankman-Fried’s access to crypto assets associated with FTX and Alameda Research. Cohen argues that Bankman-Fried needs access to these assets in order to assist in the bankruptcy proceedings of FTX, and that the restriction is unnecessary. He also claims that the restriction does not prevent Bankman-Fried from committing further violations, as Bankman-Fried is not in a position to do so.
It remains to be seen whether Judge Kaplan will agree to Cohen’s request and remove the bail restrictions on Bankman-Fried’s crypto asset transfers. If the Judge does agree, it could have a significant impact on the ongoing bankruptcy proceedings of FTX, as well as Bankman-Fried’s ability to assist in those proceedings.
Posted on 22. Januar 2023 in Allgemein
• Chainalysis reported that the revenue from ransomware attacks has decreased significantly in 2022, from $765.6 million to $456.8 million.
• The decline is largely attributed to more of the targeted organizations refusing to pay the perpetrators.
• Chainalysis also highlights a sizable increase in unique ransomware strains in 2022, but the majority of the ransomware revenue still goes to a limited group of strains.
According to a recent report from blockchain forensics firm Chainalysis, the revenue from ransomware attacks has dropped significantly in 2022. The estimated amount is down from $765.6 million the year before, to just $456.8 million. This is a decrease of over 40.3%, despite the fact that the number of ransomware hits may not have decreased significantly.
Chainalysis suggests that the decline is largely due to more of the targeted organizations refusing to pay the demanded ransoms. This indicates that many organizations are now aware of the dangers of ransomware, and are taking proactive steps to protect themselves from being taken advantage of by criminals.
At the same time, the researchers also noted a sizable increase in the number of unique ransomware strains in 2022. However, the majority of the ransomware revenue still goes to a limited group of strains, which suggests that the actual number of individuals who make up the ransomware ecosystem is small.
This decrease in ransomware revenue is good news for organizations, as it suggests that their investments in cybersecurity measures are having an effect. However, it is important to remember that ransomware attacks are still a major threat, and organizations must remain vigilant in order to ensure that they are not targeted by criminals.
The report from Chainalysis is a reminder that organizations must stay up to date with the latest security measures in order to protect themselves from potential ransomware attacks. Organizations should also be aware of the latest trends in ransomware, and take steps to ensure that they are not targeted by criminals. By doing so, organizations can minimize the risk of becoming a victim of a ransomware attack, and ensure that their data remains safe.
Posted on 14. Januar 2023 in Allgemein
• Bitcoin (BTC) rallied to a two-month high earlier in today’s session, as prices climbed above the $19,000 mark
• Ethereum (ETH) also significantly rose on Friday, with price moving above the $1,400 mark
• Prices of ETH are now deep in overbought territory, with the RSI index tracking at a level of 75.54
The world of cryptocurrency was abuzz today as Bitcoin and Ethereum surged to two-month highs. Bitcoin (BTC) and Ethereum (ETH) both broke through their respective resistance levels, with BTC shooting up past the $19,000 mark and ETH reaching $1,400.
The latest surge in prices came as traders continued to react to Wednesday’s U.S. inflation report, which dropped to 6.5%. This sparked a wave of enthusiasm in the cryptocurrency world, with Bitcoin and Ethereum leading the charge. Bitcoin began the day trading at a low of $17,995.20 before quickly rising up to a peak of $19,031.80, a two-month high. This rally was further bolstered by the 14-day relative strength index (RSI), which hit a peak of 82.00, its highest mark in over a year.
Ethereum also rose today, hitting a fresh multi-month high of $1,432.28. This jump followed a low of $1,378.42 the previous day, and marked the highest point for ETH since November 8 when it hit a high of $1,580. Moving forward, investors will be watching the RSI index for Ethereum, which is currently deep in overbought territory, sitting at a level of 75.54.
All in all, it was a positive day for cryptocurrency with Bitcoin and Ethereum both making significant gains. While the bullish momentum could continue, it is important to remember that prices are now well beyond overbought, so bears could be lurking and preparing for reentry.
Posted on 6. Januar 2023 in Allgemein
• Fanatics, the licensed sports merchandise retailer, has decided to divest 60% of its stake in the non-fungible token (NFT) company Candy Digital.
• The decision was made due to the struggling NFT market which has seen drops in both transaction volumes and prices for standalone NFTs.
• The investor group associated with billionaire Mike Novogratz and his firm, Galaxy Digital, are the buyers of the Candy Digital stake.
Sports retailer Fanatics recently announced their decision to divest 60% of their stake in non-fungible token (NFT) company Candy Digital. This comes after a difficult year for the NFT industry which has seen drops in both transaction volumes and prices for standalone NFTs. The investor group associated with billionaire Mike Novogratz and his firm, Galaxy Digital, are the buyers of the Candy Digital stake.
Fanatics CEO Michael Rubin addressed the situation in an internal email, stating that divesting their ownership stake was the best option to ensure investors were able to recoup most of their investment. Rubin also noted that it has become clear that NFTs are unlikely to be sustainable or profitable as a standalone business.
The news of Fanatics divesting their Candy Digital stake comes after the NFT company reportedly laid off over a third of its staff at the end of Nov. 2022. Despite the challenging situation, Rubin also detailed that the decision to sell its Candy shares was a „rather straightforward and easy decision for us to make for several reasons.“
The NFT industry has seen an incredible amount of growth in the past year, with companies such as NBA Top Shot and OpenSea driving the market. However, with the market becoming saturated with similar products, the industry has seen a plateau in growth.
It appears that Fanatics has taken the decision to divest from Candy Digital as an opportunity to re-evaluate their position in the NFT market and ensure that their investments are held in a profitable and sustainable business.
Overall, Fanatics’ decision to divest from Candy Digital is an indication that the company is taking a more conservative approach to the NFT industry and is looking to focus on long-term investments that are more likely to yield a return. It will be interesting to see if other companies in the NFT space take a similar approach.
Posted on 6. Januar 2023 in Allgemein
• Three Arrows Capital (3AC) founders Su Zhu and Kyle Davies have been served with subpoenas through Twitter, due to difficulties reaching them.
• The founders have been using Twitter more frequently to discuss controversial topics, such as the UST depegging and LUNA incident.
• The 3ACLiquidation Twitter account served the subpoenas on Jan. 5, 2023.
The now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC) filed for Chapter 15 bankruptcy protection in the first week of July 2022, however, creditors and liquidators involved in the 3AC bankruptcy process have found it difficult to contact the fund’s founders, Su Zhu and Kyle Davies. In order to get in contact with the two, a judge has allowed liquidators to contact them electronically via email and Twitter.
The two have been using Twitter more frequently in recent times to discuss controversial topics, such as the UST depegging and LUNA incident, as well as to criticize Genesis and Digital Currency Group (DCG) amid controversy surrounding Genesis’s liquidity problems with Gemini.
Given the difficulty in reaching the two founders, the liquidators set up the Twitter account „3ACLiquidation“ in order to serve them with subpoenas. On Jan. 5, 2023, the 3ACLiquidation Twitter account posted a message to both Davies and Zhu, attaching copies of the subpoenas.
The subpoenas served to the two founders are meant to bring them into the bankruptcy proceedings, as the liquidators need to determine where the remaining assets of the now-defunct fund are located. It is unclear how the two will respond to the subpoenas, but it is certain that the 3AC bankruptcy proceedings will be closely watched by the cryptocurrency community.
Posted on 5. Januar 2023 in Bitcoin Adoption
Since its introduction in 2009, Bitcoin, the first digital money in the world, has caught the public’s attention. Since then, cryptocurrencies have evolved from being a specialized investment to a commonplace technology with millions of users worldwide. Although the success of Bitcoin may be credited to its cutting-edge technology and promise as an investment instrument, media attention has considerably contributed in its broad acceptance. We will examine how the media has contributed to Bitcoin’s growth in this article, covering the impacts of both favorable and unfavorable coverage, the power of social and conventional media, and the implications of celebrity endorsements. We will also talk about the regulatory landscape and how it affects how the media covers bitcoin.
Since Bitcoin is a decentralized digital currency that runs on a peer-to-peer network, neither a government nor a central bank has any authority over it. Users may send and receive Bitcoin from anywhere in the world, and transactions are verified and recorded on the blockchain, a public ledger. Because it may be used to make purchases of goods and services like conventional currencies, bitcoin is also frequently referred to as a cryptocurrency or digital currency.
A developer (or group of developers) operating under the pseudonym Satoshi Nakamoto invented Bitcoin in 2009. Since the late 1990s, the technology underlying Bitcoin has been under development, but Nakamoto is credited with bringing the idea to completion. The general public and financial institutions first viewed bitcoin with mistrust, but it soon gained popularity and received widespread attention.
Since it helps to shape the public’s perception of the cryptocurrency, favorable media coverage of Bitcoin has been crucial in promoting adoption. Positive media coverage has emphasized Bitcoin’s potential as an investment tool and has also talked about some of its prospective use cases, as for cross-border transfers and international payments. For instance, the well-known trading site Bitcoin Aussie System has played a key role in promoting Bitcoin and its potential as an investment.
The media has been crucial in the spread of Bitcoin since it has given people a forum to talk about its benefits and drawbacks while also helping to increase public knowledge of the cryptocurrency. The public’s perception of Bitcoin has also been greatly influenced by media coverage. Media sources have the power to generate narratives about Bitcoin that may be either positive or negative.
Negative media coverage of Bitcoin can hinder its adoption by instilling the public’s image of the cryptocurrency with a negative bias. Negative media coverage can range from exposing the dangers of buying bitcoin to talking about how it might be used for money laundering and other illegal activities.
Since social media offers a forum for discussion and debate regarding cryptocurrencies, it has been a major factor in the acceptance of Bitcoin. However, social media may be a double-edged sword since it can be used to propagate both pro- and anti-Bitcoin views. Social media, for instance, may be used to disseminate false information about Bitcoin, which might harm the currency’s acceptance.
Newspapers and television are examples of traditional media channels that have contributed significantly to the acceptance of Bitcoin. The public may be educated and given a positive perception of Bitcoin via traditional media sources‘ thorough and in-depth coverage of the cryptocurrency. But it’s crucial to remember that traditional media channels may also be exploited to disseminate false information, so you should approach their reporting with caution.
Given that celebrities have enormous power over their audience, their endorsements of products and services can have a big impact on how widely Bitcoin is used. Positive celebrity endorsements of Bitcoin can contribute to its positive perception, but unfavorable endorsements might have the reverse impact.
Regulation may affect how Bitcoin is covered in the media. Regulators in certain nations have taken a dim view of Bitcoin, which has caused media outlets to be more circumspect in their coverage of the cryptocurrency. In some nations, including the United States, regulators have adopted a more optimistic posture, allowing media outlets to be more optimistic in their reporting.
In conclusion, media attention has been crucial to the spread of Bitcoin since it has influenced public perception and aided to promote knowledge of the cryptocurrency. While negative media coverage has examined Bitcoin’s possible use cases as a tool for money laundering and other illegal activities, positive media coverage has emphasized the potential of Bitcoin as an investment vehicle. Celebrity endorsements can significantly influence the adoption of Bitcoin, in addition to the role that social media and conventional media sources have had in raising awareness of the currency. In several countries, regulators have taken a dim view of Bitcoin, which has influenced media coverage. Regulation has also had an impact on media coverage.