Tuesday, May 28, 2024
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Ethereum turns deflationary as validators exit and defi transactions drop 57%

Ethereum’s supply turns deflationary amid a decrease in validator participation and declining NFT and defi transactions. The recent dynamics of Ethereum’s blockchain network signal a significant shift towards deflation, according to data from Glassnode. This is driven by a combination of reduced validator participation and increased network activity. A notable increase

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Grayscales Files Updated Spot Bitcoin ETF Application with US SEC after Binance’s Forced Exit

Grayscale officials had previously met with the US SEC representatives to the division of trading and markets to discuss the proposed rule to list and trade GBTC under NYSE Arca. After the United States Department of Treasury purged Binance Holdings Ltd’s operations in the country, the pathway for spot Bitcoin exchange-traded

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Binance to Make ‘Complete Exit’ From U.S., Pay Billions to FinCEN, OFAC on Top of DOJ Settlement

Crypto exchange Binance will leave the U.S., pay billions in fines and appoint a monitor for five years to settle charges with the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Asset Control (OFAC), the U.S. Treasury Department's money laundering and sanctions watchdogs, according to press releases shared Tuesday. Source

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Celsius to exit bankruptcy and restart as creditor-run Bitcoin miner

Celsius Network is revamping into a Bitcoin mining company, promising customer repayments and an exit from bankruptcy.  Cryptocurrency lending platform Celsius Network has secured court approval to transition into a Bitcoin mining company owned by its creditors. This development is part of a comprehensive strategy to compensate account holders whose funds

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Court confirms Celsius bankruptcy exit plan, $2B in crypto to go to creditors

The Celsius bankruptcy plan has been approved. The path is now clear for customers to see some of their funds returned and receive shares in the reorganized company, which will be called NewCo.Judge Martin Glenn of the Southern District of New York Bankruptcy Court issued a confirmation on Nov. 9

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