Polygon officially launched the second testnet with zkEVM support

Cryptocurrency NewsBy 23/12/2022

The developers of the second layer solution Polygon announced the launch of the second test network with support for zkEVM technology. The next step should be to launch the main network of the project with zkEVM support. The zkEVM technology is designed to allow a significant increase in Ethereum throughput and, according to the developers, thanks to the Recursion update, the scaling “will be exponential”. The technology is based on zero-knowledge proofs and has become…

Mining company Core Scientific files for creditor protection in court

Cryptocurrency NewsBy 22/12/2022

One of the largest publicly traded cryptocurrency mining companies in the US, Core Scientific, plans to file for creditor protection in Texas bankruptcy court. According to CNBC, Core Scientific is unable to pay off debt for rented mining equipment despite generating positive cash flow. Because the funds at the disposal of Core Scientific are not enough to service the growing debt, the company plans to file for protection from creditors in the bankruptcy court of…

CedarFX – Trade with the First Eco-Conscious Broker

Cryptocurrency NewsBy 21/12/2022

Building a Diverse Trading Portfolio A look at the importance of risk mitigation through diversifying your portfolio. When it comes to online trading, portfolio diversification is a powerful tool used by investors to mitigate risk. This strategy involves investors holding multiple assets across varying markets, industries and geographical jurisdictions in order to spread their exposure and decrease the risk of loss due to one industry collapsing. The Benefits of a Diversified…

Celsius Network assets auction to take place in January

Cryptocurrency NewsBy 21/12/2022

Lending platform Celsius informed potential buyers that the deadline for submitting bids for participation in the auction has come to an end and the sale of assets is scheduled for January 2023. The Bankruptcy Court for the Southern District of New York has set an auction for the sale of Celsius assets on January 10. The company said it has already received more than 30 offers with various options for acquiring its assets or business…

Binance US to Buy Voyager Assets for $1B

Cryptocurrency NewsBy 20/12/2022

Cryptocurrency exchange Binance US has offered the best conditions for the buyback of Voyager Digital assets – the transaction should be closed by April 18, 2023. The US subsidiary of the Binance cryptocurrency exchange has won a tender to acquire the assets of a bankrupt crypto lender worth more than $1 billion. Voyager said that Binance US’s offer has been the best so far. A buyback date has not yet been set, but Binance decided…

US court dismisses Coinbase in Dogecoin lottery case

Cryptocurrency NewsBy 19/12/2022

Representatives of the Coinbase crypto exchange, referring to the user agreement, demanded that the dispute in the lottery case with Dogecoin be considered in private arbitration, and not in general court order. But the US court refused the trading platform. Former clients filed a lawsuit against the American crypto exchange. Users claim to have been scammed into paying $100 or more to enter the Coinbase Dogecoin contest. Last June, the platform was raffling off $1.2…

CedarFX – Trade with the First Eco-Conscious Broker

Cryptocurrency NewsBy 16/12/2022

It’s not every day that you come across a broker with a vision to make a positive impact beyond the world of finance. CedarFX, however, is changing that perception. The leading online broker has recently launched a revolutionary Eco Account option to its traders, making it the first-ever Eco-conscious broker to exist! Through their various account options, CedarFX is dedicated to helping traders reach higher by offering ultra-high leverage and low spreads. Traders can get…

Japan intends to reduce the tax burden for crypto firms

Cryptocurrency NewsBy 16/12/2022

The Japanese government intends to ease the tax burden on local crypto firms and exclude paper profits from the tax base. In the middle of this year, the Japan Crypto Asset Business Association (JCBA) and the Japan Virtual and Crypto Asset Exchange Association (JVCEA) petitioned the Financial Services Agency (FSA) to reduce the tax burden of local cryptocurrency companies. The initiative group has asked the regulator to exclude taxation of paper profits from cryptocurrency assets…

Changpeng Zhao: “99% of cryptocurrency users will not be able to store assets on their own”

Cryptocurrency NewsBy 15/12/2022

Binance CEO Changpeng Zhao believes that the vast majority of users do not have the knowledge to store cryptocurrencies on their own and therefore may lose assets. Changpeng Zhao supports self-custody, but emphasizes that it must be “do the right thing.” During a recent conference, Zhao noted that often users do not pay enough attention to storing wallet keys, which leads to the loss of either keys or assets in addresses. “For most people, I…

Tether will stop issuing loans secured by USDT

Cryptocurrency NewsBy 14/12/2022

In response to a recent media attack, Tether, the issuer of the USDT stablecoin, said it would reduce secured loans in USDT reserves to zero over the next year. Tether explained that stablecoin-backed loans work similarly to loans from private banks that use collateral. However, unlike banks that operate with fractional reserves, Tether loans are more than 100% secured, the company claims. “Tether is managed professionally and conservatively, and this will once again be demonstrated…

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