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Court filings reveal that the FTX co-founder is seeking access to a $10 million insurance plan to cover his attorney fees. FTX debtors and unsecured creditors have opposed Sam Bankman-Fried’s request, arguing that every dollar spent on his defense is “one less dollar” available to cover the losses of the debtors. FTX Debtors and Unsecured Creditors Oppose Sam Bankman-Fried’s Request for D&O Funds Sam Bankman-Fried (SBF), the former CEO of FTX, is seeking access to a $10 million legal insurance fund to cover his defense expenses. The filing notes that FTX’s $10 million director and officer (D&O) insurance policy covers individuals who are “legally obligated to pay on account of any claim first made against them.” However, FTX debtors and the committee of unsecured creditors have criticized SBF’s request, arguing that granting him access to the insurance funds would harm the debtors and cause “material prejudice.” “Thus, for...

The Giving Block reported that in the last year, USDC took 44% of the crypto donation volume, ETH took 24%, and BTC got 17% within its charity platform. According to The Giving Block’s 2023 annual report titled “Crypto Philanthropy Data, Trends & Predictions,” all-time crypto donations in the platform surpass ed $125 million in 2022. Based on the data available, the crypto Charity project predicted that it could surpass $1 billion in August 2027, reach $5 billion in June 2031 and exceed the $10 billion mark in November 2032. Data collected by the crypto charity platform The Giving Block shows that donations in the form of cryptocurrencies are set to go over $10 billion within the next decade.  Predictions based on trends and Bitcoin price. Source: The Giving Block In addition to the platform’s data on crypto donations , The Giving Block also based its predictions on its Analysis of potential Bitcoin’s (BTC) price trajectory. The platform predicted that BTC may reach $100,000 ...

Following the bank’s closure last month, Signature Bank has set an April 5 deadline for crypto clients to withdraw funds. Specifically, the FDIC will begin account closures at that date, with cryptocurrency companies and depositors not included in a recent rescue deal orchestrated by Flagstar Bank. The bank has agreed to purchase deposits and loans from Signature bank following an agreement with regulators. Moreover, the Michigan financial institution is a subsidiary of New York Community Bancorp. Yet, they will not be purchasing bank depositors operating in the digital asset industry. Source: Crain’s New York Business Signature Bank Crypto Clients Race Against Clock Earlier this month a budding banking crisis was set off by the collapse of Silicon Valley Bank. Moreover, as the Federal Reserve noted a bailout for their depositors, it quietly announced the collapse of Signature Bank . Now, some clients of that institution that operate in the digital asset sector are racing against...

A well-known crypto analyst is telling traders to be realistic about what the new token for scaling Ethereum (ETH) called Arbitrum could be worth in the future (ARB). In a new YouTube video, the anonymous host of InvestAnswers responds to the “false hopium” that the price of ARB could skyrocket to $100. “If that were to happen, Arbitrum would have a full diluted market cap of $1.3 trillion. It’s never going to be worth that, okay? Just put things in perspective. Be careful what you read and do your numbers on the back of a napkin, don’t just say, ‘Oh, I can buy something for a dollar and sell it for $100.’ No, it’s not going to happen.” The InvestAnswers tells his 443,000 subscribers that he is worried about how centralized Arbitrum is, how many whales control it, and how 87.2% of its tokens are still locked. The InvestAnswers host says that Arbitrum has a fully diluted market cap of over $13 billion, which is already more than the fully diluted ma...

Chris Burniske, a partner at Place Holder and former crypto head of Ark Invest, believes that US pressure on crypto will backfire. Burniske recently stated in a TV interview with The Exchange that now is the time to buy Bitcoin and Ethereum. He stated that people have laughed at and ridiculed the crypto industry from the beginning. Burniske mentioned the current financial turmoil and stated that Bitcoin was built for moments like this. However, it is not just Burniske; two other finance experts — Mike McGlone and Robert Kiyosaki — also share their thoughts on cryptocurrencies amid the current financial crisis with banks collapsing. In another interview, Mike McGlone, a senior commodity strategist at Bloomberg Intelligence, recently stated that the banking crisis is a catalyst for the crypto bull run. McGlone asserted that Bitcoin was born out of the last financial crisis in 2008-09. McGlone stated that Bitcoin had done pretty well, bouncing above the $25,000 resistance....

Early today, crypto copy trading platform Bitget announced its strategic partnership with Space and Time (SxT), a decentralized data warehouse. The two firms believe this collaboration will help Bitget offer unparalleled transparency of exchange operations with a verifiably tamperproof audit trail of data and computation to its users. Managing Director of Bitget Gracy Chen states, “Bitget strives to be the all-in-one global trading platform, and our partnership with Space and Time highlights our commitment to that.” According to the Bitget team, it is the first centralized exchange to leverage a decentralized data warehouse. The trustless Space and Time platform, the team says, will offer Bitget’s users verifiable evidence that the exchange holds the assets it claims to own on behalf of its clients. Bitget users will be able to experience complete transparency about the exchange’s activity, liquidity, assets, and liabilities with the assurance that the data and computat...

Bitcoin (BTC) heavyweight MicroStrategy has acquired 6455 BTC for around $150 million. The firm’s founder and chief, Micheal Saylor announced the development on Twitter. Saylor also said that MicroStrategy has repaid its $205 million BTC-collateralized loan to Silvergate. The loan was repaid at a 22% discount. JUST IN: MicroStrategy has purchased an additional 6,455 #Bitcoin ($150 million). — Watcher.Guru (@WatcherGuru) March 27, 2023 According to Saylor’s tweet, the BTC was purchased at an average price of $23,238 per coin. The cost of each coin is approximately 16.89% less than BTC’s current market price. MicroStrategy currently holds 138,955 BTC, worth a whopping $4.14 billion. The average cost of each BTC on its total holdings is around $29,817, which is 6.64% more than the current market value. MicroStrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, $MSTR acquired an additional ~6,455 bitcoin s for ~$150M at an average of ~$23,238 per # bi...

Bitcoin Is in a Narrow Range as It Holds in the Interim below $28K – March 25, 2023 BTC/USD has been consolidating near the $29,000 resistance level for the past week but holds in the interim below $28K. The price has been unable to keep moving over the $29,000 resistance level due to a lack of buyers. Sellers have demonstrated consistent opposition at the most recent high. For the previous week, the price of Bitcoin has been varying within a narrow band between $26,500 and $28,000. The Bitcoin asset runs the risk of dropping below the $25,000 support. Bitcoin Price Statistics Data: •Bitcoin price now – $27,544.91 •Bitcoin market cap – $532,601,744,496 •Bitcoin circulating supply – 19,328,412 BTC •Bitcoin total supply –$578,611,947,841 •Bitcoin Coinmarketcap ranking – # 1 Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000 Following the tight concentration near the most recent high, Bi...

Join Our Telegram channel to stay up to date on breaking news coverage A new gaming sensation is sweeping the community as the highly-anticipated play-to-earn game “Fight Out” concludes its presale in seven days.  Fight Out, the revolutionary play-to-earn game app has reached new heights in its presale, securing an impressive $5.8 million from eager investors. With its unique concept and promising potential, gamers and investors are urged to take advantage of this exciting opportunity. Our presale is less than 2 weeks away, so hurry and join now before it's too late! Earn rewards for your real-life training while levelling up your #Metaverse avatar. Grab your $FGHT now! 👇https://t.co/9pikKGRRHL pic.twitter.com/3iMcprZ2kh — Fight Out (@FightOut_) March 23, 2023 As the presale draws to a close, the app’s exchange listing price of $0.0333 is already selling out, adding to the growing sense of FOMO among the crypto community.  Join t...

Owners of Bitcoin mining hardware can sell their hashrate to potentially earn more compared to mining BTC directly. In the busy crypto mining sector, optimization is critical. With slim profit margins and demand for optimal computing power, all tools for increased results are welcome. As miners try to scrape reasonable profits, they usually turn to traditional mining pools. These pools let miners combine their hashing power and, as a result, provide more frequent rewards compared to solo mining . However, there are more options out there. Another option miners have is selling their hashing power. Hashing power is the computing power of hardware (ASICs) used to solve different hashing algorithms that some cryptocurrencies are based on. Selling hashing power is possible by selling the hashrate through a marketplace. In this case, the miner’s profits are driven by the buyer's demand instead of the difficulty and coin price. What is a hashrate marketplace? Hashing power sellers and ...

The United States Securities and Exchange Commission [SEC] has intensified its scrutiny of the cryptocurrency ecosystem. A large number of assets were found to be abruptly classified as “securities” by the SEC. This was typically followed by a lawsuit against the developers of that particular asset. As Ripple has been fighting a battle against the SEC, Tron’s Justin Sun might have to put up a fight of his own. Earlier today, the SEC went on to sue Sun for selling unregistered securities and fraud as well as market manipulation. Before taking the legal route, Justin Sun decided to calm crypto Twitter. The founder of the Tron ecosystem took to Twitter and called out the SEC’s latest move. He outrightly suggested that the regulator’s complaint was short of “merit.” The SEC’s civil complaint earlier today is just the latest example of actions it has taken against well known players in the blockchain and crypto space. We believe the complaint lacks merit, and in the meantime will co...

Join Our Telegram channel to stay up to date on breaking news coverage Yesterday, March 21st, ARK Invest made a major move by selling 160,887 shares of Coinbase (COIN), the largest US crypto exchange. Growth Investor Cathie Wood’s ARK managed to sell the shares for 13.5 million in a move that immediately started making headlines. Cathie Wood and Ark Invest sold 160,887 shares of Coinbase $COIN stock today — StockMKTNewz – Evan (@StockMKTNewz) March 22, 2023 ARK’s move comes as a surprise, given that the company has spent a large portion of the year-long crypto winter purchasing Coinbase’s stock. Throughout last year, the stock underperformed in comparison to bitcoin and ether, and as time went by, its shares dropped by 86% last year. The price drop was likely increased due to major incidents in the crypto industry, such as the collapse of the Terra blockchain last May, followed by the collapse of the FTX exchange in November, plus that of al...

From streaming videos to cloud storage solutions, cloud computing has become an integral part of our everyday lives. Cloud computing has become an important part of our lives, whether we realize it or not. Many of the services and applications we use on a daily basis, such as messaging and streaming music and video, are powered by cloud computing.  Here are real-world cloud computing examples to know. Netflix Netflix uses cloud computing to provide streaming services to millions of users worldwide. By hosting its content on cloud servers, it can ensure reliable and scalable delivery to a global audience. Netflix uses a variety of cloud computing services and technologies, including Amazon Web Services (AWS) and content delivery networks (CDNs). The majority of Netflix's cloud computing requirements, including storage, processing power and data management, are met by AWS. Netflix makes use of CDNs to guarantee that its users receive its content fast and consistently. To enable user...

Join Our Telegram channel to stay up to date on breaking news coverage At the time of writing, Cardano’s cryptocurrency ADA was experiencing a surge in trading value, with each token worth approximately $0.34. The rise of around 4% on the day was part of a broader rally in the cryptocurrency market. Still, it was also partially due to positive news about a new network upgrade delivered by the Cardano development team. So what’s the latest in ADA price price prediction? Cardano’s ADA Cryptocurrency Surges with Network Upgrade and Increased Platform Use The Cardano blockchain platform has seen a significant increase in platform use, with the ADA-denominated value of coins held within the network reaching an all-time high of 341 million. These statistics come from DeFi Llama and suggest a growing interest and utilization of the Cardano platform. Cardano is placing a strategic bet on extensive network development to outpace competitors like Ethereum (ETH). One of...