News – Marketiva.mobi https://marketiva.mobi Your Bitcoin News Portal Fri, 23 Sep 2022 22:30:11 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.2 https://marketiva.mobi/wp-content/uploads/2020/10/cropped-bitcoint-logo-1-32x32.jpg News – Marketiva.mobi https://marketiva.mobi 32 32 Github Partially Reinstates Tornado Cash Codebase, Open Source Code Set to Read-Only Mode https://marketiva.mobi/2022/09/23/github-partially-reinstates-tornado-cash-codebase-open-source-code-set-to-read-only-mode/ https://marketiva.mobi/2022/09/23/github-partially-reinstates-tornado-cash-codebase-open-source-code-set-to-read-only-mode/#respond Fri, 23 Sep 2022 22:30:11 +0000 https://news.bitcoin.com/?p=549112 The internet hosting and software development subsidiary of Microsoft, Github, has partially unbanned the Tornado Cash repositories following the recent sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). Github’s decision follows the U.S. Treasury updating the public, noting that U.S. persons can copy, view, and discuss the open-source code. Github’s […]]]>

Github Partially Reinstates Tornado Cash Codebase, Open Source Code Set to Read-Only Mode

The internet hosting and software development subsidiary of Microsoft, Github, has partially unbanned the Tornado Cash repositories following the recent sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). Github’s decision follows the U.S. Treasury updating the public, noting that U.S. persons can copy, view, and discuss the open-source code. Github’s partial reinstatement lets repository visitors look at the Tornado Cash codebase in read-only mode.

Github Reinstates Tornado Cash Repositories in Read-Only Mode

The cryptocurrency community has been discussing the internet hosting and software development platform Github after the service decided to partially reinstate the Tornado Cash open source code on the platform. On August 8, 2022, the U.S. Treasury Department’s regulatory watchdog OFAC sanctioned the ethereum mixer Tornado Cash and several ethereum addresses associated with the platform. When OFAC’s sanctions were published, third-party platforms started to take action and one open source programmer was banned from Github.

“My Github account was just suspended,” the software developer Roman Semenov said at the time. “Is writing an open source code illegal now?” Additionally, the Microsoft-owned Github removed the Tornado Cash codebase repositories, and no one could access the code via the software development platform.

On September 13, 2022, after significant criticism from the crypto community, the U.S. Treasury updated the public about U.S. persons that associate themselves with Tornado Cash. For instance, sanctions do not fully apply to U.S. persons that transacted with the ethereum mixing application prior to August 8. If this was the case, and a U.S. person still held funds on the application they can “request a specific license from OFAC to engage in transactions involving the subject virtual currency.”

OFAC Allows US Persons to View, Discuss, and Teach About Sanctioned Platforms and Open-Source Code in Written Publications

OFAC’s frequently asked questions (FAQ) update also discusses open source code tied to Tornado Cash. “U.S. persons would not be prohibited by U.S. sanctions regulations from copying the open-source code and making it available online for others to view, as well as discussing, teaching about, or including open-source code in written publications,” the Treasury’s regulatory department noted.

Following the FAQ update roughly ten days ago, the Ethereum developer Preston Van Loon reported that Github had partially reinstated the Tornado Cash codebase and unbanned codebase contributors. “Github has unbanned the Tornado Cash organization and contributors on their platform,” the developer said. “It looks like everything is in ‘read only’ mode, but that is progress from an outright ban. I still encourage Github to reverse all actions and return the repositories to their former status,” Van Loon added.

What do you think about Github partially reinstating Tornado Cash repositories? Let us know what you think about this subject in the comments section below.

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Cardano Creator Charles Hoskinson Says Hundreds of Crypto Projects Gearing Up for Launch After Blockchain Upgrade https://marketiva.mobi/2022/09/23/cardano-creator-charles-hoskinson-says-hundreds-of-crypto-projects-gearing-up-for-launch-after-blockchain-upgrade/ https://marketiva.mobi/2022/09/23/cardano-creator-charles-hoskinson-says-hundreds-of-crypto-projects-gearing-up-for-launch-after-blockchain-upgrade/#respond Fri, 23 Sep 2022 22:01:21 +0000 https://dailyhodl.com/?p=218785 Charles Hoskinson says many projects are preparing to launch on the Cardano (ADA) blockchain after its Vasil hard fork upgrade. Hoskinson, the Cardano co-creator, says in a tweet that there are hundreds of projects announcing they will advance using ADA’s new capabilities become available to developers next week. “I’ve seen hundreds of tweets like this […]]]>

Charles Hoskinson says many projects are preparing to launch on the Cardano (ADA) blockchain after its Vasil hard fork upgrade.

Hoskinson, the Cardano co-creator, says in a tweet that there are hundreds of projects announcing they will advance using ADA’s new capabilities become available to developers next week.

“I’ve seen hundreds of tweets like this one. Lots of projects are excited to deploy now.”

He refers to the project from the decentralized streaming music company NEWM, which is developing a platform to allow artists to share music among consumers and earn royalties through NFTs.

NEWM says the Vasil upgrade will make its operations more efficient.

“What does this mean for our community? We’ve been waiting for Vasil to deploy our smart contracts. This upgrade makes them more efficient and cost-effective on Cardano. The future of music is happening now! More on this soon.”

In another tweet, Hoskinson praises the achievement of the upgrade while criticizing a news headline for saying the upgrade came after a three-month delay.

“It’s amazing to me to see the passive aggressiveness in some of the headlines. We’ve just completed a major milestone that took coordination and testing from people and companies across the world, but the news item is ‘three-month delay’? Journalists always tell you who they are.”

The Input Output Hong Kong (IOHK) CEO previously said the upgrade makes the goals of ADA seem achievable.

“We built Cardano to be the financial operating system of the world. We built it to bank the unbanked. We built it as a community to give economic identity to those who don’t have it so we can have one global fair marketplace.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Lebanese People Turn to Crypto Amid the Country’s Financial Collapse: Report https://marketiva.mobi/2022/09/23/lebanese-people-turn-to-crypto-amid-the-countrys-financial-collapse-report/ https://marketiva.mobi/2022/09/23/lebanese-people-turn-to-crypto-amid-the-countrys-financial-collapse-report/#respond Fri, 23 Sep 2022 21:25:42 +0000 https://cryptopotato.com/?p=216035 Some of the tech-savvy youngsters in Lebanon have reportedly shifted their focus toward cryptocurrencies amid the current monetary crash

Earlier this week, the government closed all local banks due to ongoing risks for employees and customers. It remains unknown when the financial institutions will re-open, which might be one reason why locals started looking for alternative financial instruments, including digital assets.

Crypto to the Rescue

The economic situation in Lebanon worsened after the government shut all domestic banking institutions until further notice. Thus, people wanting to withdraw their funds can do so at a considerable loss or take out US dollar-denominated cheques, which are then sold for a fraction of their valuation – currently approximately 20%.

On the other hand, those willing to do something with their savings must act fast because the Lebanese pound is depreciating on a daily basis.

According to a recent Reuters report, some locals (mainly young people with enough knowledge about innovations in technology) have started dealing with cryptocurrencies because of this setback.

Mario Awad – a Lebanese HODLer – told the media that many politicians, security officers, TV personalities, and celebrities have also purchased bitcoin or altcoins lately.

Another individual, introducing himself as Ahmad, argued that cryptocurrencies are “100 times more real than the dollars” Lebanese keep in banks.

According to the coverage, the favorite digital asset of local investors is the world’s largest stablecoin – Tether (USDT). Its value is pegged to the American dollar, and, in theory, it should stay unaffected by the notorious volatility in the crypto market.

The Lebanese government has not yet put the digital asset sector under its supervision. However, the lack of regulations does not seem to be a problem for domestic investors, most of whom do not trust the actions of the ruling body.

“For many, that’s seen as good because we’re not living in a country where regulations and politicians give us hope – quite the opposite. But it does harm widespread adoption (of cryptocurrency),” one of the traders opined.

It is worth noting that crypto mining also thrives in Lebanon mainly due to the cheap electricity prices. Speaking on the matter was the local miner, who disclosed himself as Jad:

“Even if you’re making $10 a day with a normal computer, that’s now several times the minimum wage. After what we’ve been through, I’m never putting one cent back in a Lebanese bank.”

The Crisis in Lebanon

Lebanon has been battling a deep economic crisis for a couple of decades. While the country was one of the most well-developed states in the Arab region until 1975, a civil war that lasted until 1990 changed that trend.

The military conflict caused massive loss of human life and property and devastated the country’s financial system. Parts of Lebanon were left in ruins, while the leading political parties continued to divide society years after the end of the war.

Violent events were not absent after 1990 when the nation’s forces clashed multiple times with Israel’s army, while in 2005, Prime Minister Rafic Hariri was assassinated in a car bomb explosion. Political figures accused Syria of the assassination, so another conflict began.

Despite not engaging that heavily in war efforts in the last few years, civil demonstrations and terrorist bomb attacks are not absent in Lebanon.

Needless to say, the turbulence in the country has caused a vast migration wave over the years. Currently, up to 14 million Lebanese people live outside their homeland (two times more than the population of Lebanon itself).

Apart from seeking a peaceful environment for themselves and their families, those individuals also escaped a country where the financial network is barely functioning. The current inflation rate in Lebanon is over 160%, while the recently closed banks only intensified the issue.

The increased interest in cryptocurrencies displayed by locals because of the ongoing situation is not something new. Residents of other countries, including Argentina and Turkey, have also jumped on the bandwagon due to worrying inflation rates or political turmoil.

The post Lebanese People Turn to Crypto Amid the Country’s Financial Collapse: Report appeared first on CryptoPotato.

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Tether Reveals USDT Stablecoin Is Now Supported by Polkadot https://marketiva.mobi/2022/09/23/tether-reveals-usdt-stablecoin-is-now-supported-by-polkadot/ https://marketiva.mobi/2022/09/23/tether-reveals-usdt-stablecoin-is-now-supported-by-polkadot/#respond Fri, 23 Sep 2022 20:30:57 +0000 https://news.bitcoin.com/?p=549170 Tether is now live on 15 different blockchain networks, according to the company’s latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin’s new support follows the token being added to the Near Protocol 11 days ago. The news further follows Tether being ordered by […]]]>

Tether is now live on 15 different blockchain networks, according to the company’s latest announcement on Friday as the firm detailed that it is now supported by the Polkadot blockchain system. The stablecoin’s new support follows the token being added to the Near Protocol 11 days ago. The news further follows Tether being ordered by a New York judge to produce financial documents last Tuesday.

Polkadot Blockchain Ecosystem Adds Tether

Just recently Tether Operations Limited announced that it was added to the Near Protocol on September 12 and 11 days later, the stablecoin firm revealed it is now hosted on the Polkadot blockchain.

Polkadot (DOT) is an open source distributed ledger project that connects blockchains, decentralized finance (defi), and the Web3 ecosystem. Tether manages the largest stablecoin asset worldwide as it commands a ​​$68.24 billion market valuation on September 23.

Out of the $963.16 billion crypto economy today, USDT dominates by 7.078% of that value. On Friday, Tether said the addition of USDT to the Polkadot blockchain ecosystem is “another milestone” for the stablecoin issuer.

After being added to the Near Protocol and Polkadot Polkadot blockchain ecosystem, USDT is now hosted on 15 different blockchain networks. In a note sent to Bitcoin.com News, Paolo Ardoino, the CTO at Tether said the company is “delighted” to launch tether on the Polkadot blockchain network.

“Polkadot is on a trajectory of growth and evolution this year and we believe Tether’s addition will be essential in helping it continue to thrive,” Ardoino noted. In the last 30 days statistics show that tether’s market cap grew by 0.8% and on Friday, USDT commands $45.51 billion of the $81.84 billion in global crypto trade volume.

Tether’s volume equates to 55.60% of the $81.84 billion in swaps today and 62% of all BTC trades today are paired with tether. The Polkadot blockchain support follows a New York judge ordering Tether Operations Limited to produce financial documents that show USDT’s backing.

The judge’s order stems from a class action lawsuit filed three years ago by five plaintiffs. The case further involves the law firm Roche Freedman LLP and just recently Tether’s lawyer said the law firm should be dropped from the case following the controversy surrounding Roche Freedman’s co-founder Kyle Roche.

What do you think about tether being added to the Polkadot blockchain ecosystem? Let us know what you think about this subject in the comments section below.

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Helium (HNT) Is Officially Migrating to Solana (SOL) Blockchain After Community Vote https://marketiva.mobi/2022/09/23/helium-hnt-is-officially-migrating-to-solana-sol-blockchain-after-community-vote/ https://marketiva.mobi/2022/09/23/helium-hnt-is-officially-migrating-to-solana-sol-blockchain-after-community-vote/#respond Fri, 23 Sep 2022 20:00:36 +0000 https://dailyhodl.com/?p=218713 The decentralized wireless network Helium (HNT) is officially migrating to the Solana (SOL) blockchain after a community vote upheld the decision. The Helium Foundation announced on Thursday that its community approved the move by a majority 81.41% vote on Helium Improvement Proposal (HIP) 70. Says Scott Sigel, the chief operating officer of the Helium Foundation, […]]]>

The decentralized wireless network Helium (HNT) is officially migrating to the Solana (SOL) blockchain after a community vote upheld the decision.

The Helium Foundation announced on Thursday that its community approved the move by a majority 81.41% vote on Helium Improvement Proposal (HIP) 70.

Says Scott Sigel, the chief operating officer of the Helium Foundation,

“We have an ambitious mission of deploying and managing wireless networks at scale and moving to Solana allows us to do that. Solana has a proven track record powering some of the world’s most important decentralized initiatives and they were an obvious choice for us to partner with. Moving to the Solana blockchain allows us to focus our efforts on scaling the network as opposed to managing the blockchain itself.”

The Helium Foundation first announced its intention to migrate the ecosystem to Solana in late August, when HNT was trading at around $6.00. In the week following, the token plunged to a low of $3.33.

HNT has since partially recovered and is trading at $4.67 at time of writing. The 71st-ranked crypto asset by market cap is up nearly 5% in the past 24 hours.

Solana’s native asset SOL is trading at $32.56 at time of writing. The 9th-ranked crypto asset by market cap is up more than 5.6% in the past day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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GitHub Reverses Tornado Cash Ban But There’s a Catch https://marketiva.mobi/2022/09/23/github-reverses-tornado-cash-ban-but-theres-a-catch/ https://marketiva.mobi/2022/09/23/github-reverses-tornado-cash-ban-but-theres-a-catch/#respond Fri, 23 Sep 2022 19:05:16 +0000 https://cryptopotato.com/?p=216089 The US Office of Foreign Assets Control (OFAC) assigned popular crypto tumbler Tornado Cash as an entity on the Specially Designated Nationals (SDN) sanction list last month which triggered an outcry from privacy and free speech advocates. Subsequently, Microsoft-owned GitHub removed its source code as well as terminated the user accounts of three individuals who contributed code to the project.

In a recent turn of events, the platform unbanned the coin mixer and contributors on the platform. Notifying that the repos are, however, currently in “read-only” mode, Ethereum dev Preston Van Loon tweeted that the hosting service is yet to reverse all actions and return the repositories to their former status.

Loon believes the move is still “progress from an outright ban.”

Clarification on Interaction With Tornado Cash

Tornado Cash’s return to GitHub follows clarification guidance issued by the United States Department of the Treasury earlier this month that states merely “interacting” with итs open-source code, with certain provisions, would not violate sanctions imposed by the OFAC.

“U.S. persons would not be prohibited by U.S. sanctions regulations from copying the open-source code and making it available online for others to view, as well as discussing, teaching about, or including open-source code in written publications.

Similarly, U.S. persons would not be prohibited by U.S. sanctions regulations from visiting the Internet archives for the Tornado Cash historical website, nor would they be prohibited from visiting the Tornado Cash website if it again becomes active on the Internet.”

The interaction should not involve a prohibited transaction as per the guidance. Individuals initiating transactions using the mixer prior to sanctions being imposed on August 8th can apply for an OFAC license to execute the transaction or to make a withdrawal.

Tornado Cash’s Unofficial Archive

Apart from the partial restoration, an unofficial archive of Tornado Cash’s code was published on GitHub by Matthew Green, a cryptography professor at Johns Hopkins University, in August with the support of the Electronic Frontier Foundation (EFF). Condemning the hosting site’s earlier move, the researcher, along with his EFF colleague, Kurt Opsahl, said that if the code was disabled again, they would challenge the decision in court.

While the fate of Tornado Cash still hangs in limbo, the clampdown did manage to prompt considerable industry support. Coinbase, for one, revealed footing the bill for a lawsuit brought by six people in the country against the Department of Treasury.

The exchange, in an announcement, stated that the OFAC, instead of targeting the bad actors or the property controlled by them, imposed sanctions on an open source technology, “a tool legitimately used by many innocent people even if also by some bad actors.”

The post GitHub Reverses Tornado Cash Ban But There’s a Catch appeared first on CryptoPotato.

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Crypto Trader Predicts XRP Could Erupt by Over 80%, Updates Outlook on Bitcoin (BTC) and Two Altcoins https://marketiva.mobi/2022/09/23/crypto-trader-predicts-xrp-could-erupt-by-over-80-updates-outlook-on-bitcoin-btc-and-two-altcoins/ https://marketiva.mobi/2022/09/23/crypto-trader-predicts-xrp-could-erupt-by-over-80-updates-outlook-on-bitcoin-btc-and-two-altcoins/#respond Fri, 23 Sep 2022 19:00:22 +0000 https://dailyhodl.com/?p=218780 A widely followed crypto analyst is predicting a massive surge for Ethereum (ETH) competitor XRP while updating his outlook on Bitcoin (BTC) and two other altcoins. Pseudonymous trader Altcoin Sherpa tells his 183,000 Twitter followers that XRP should rise to $0.60 before ultimately shooting up to $0.87. “XRP: Go to $0.60 and then $0.87 if […]]]>

A widely followed crypto analyst is predicting a massive surge for Ethereum (ETH) competitor XRP while updating his outlook on Bitcoin (BTC) and two other altcoins.

Pseudonymous trader Altcoin Sherpa tells his 183,000 Twitter followers that XRP should rise to $0.60 before ultimately shooting up to $0.87.

“XRP: Go to $0.60 and then $0.87 if that cleanly breaks. Bizarre reaction for some of these altcoins.”

Source: Altcoin Sherpa/Twitter

XRP is changing hands at $0.49 at time of writing.

A rally to Altcoin Sherpa’s target of $0.87 would mark a nearly 80% rise for the payments token.

The analyst then brings up Bitcoin, saying that the king crypto’s current price level seems “spent,” meaning he believes it will dip soon.

“BTC: I think that the wick around $18,500 seems very spent, it seems likely that the next wicks up are coming. 18,000 and 17,500 are the next demand areas up, would stay very cautious.”

Source: Altcoin Sherpa/Twitter

The top crypto asset by market cap is moving for $18,873 at time of writing.

Next on the trader’s list is ETH scaling solution Optimism (OP). Altcoin Sherpa says that while he expects a bounce for OP in the short term, he ultimately expects it to settle around the $0.50 area.

“OP: This current area is a HVN [high volume node] on volume profile, so it should maybe bounce, but this is still a comfortable short all the way down to $0.50 in my opinion.”

Source: Altcoin Sherpa/Twitter

OP is currently trading for $0.926.

Altcoin Sherpa wraps up his analysis by bringing up ApeCoin (APE), the native asset of the Bored Ape Yacht Club non-fungible token (NFT) community. He says that APE currently is at a significant price level and that it “looks scary.”

“APE: $5.85 is a significant level IMO, no 1d [one day] closes over there in almost two weeks. Doing so would mean mid $6s, but it’s a strong level. I still am in my position but I took more profits around the $5.90 area. It looks a bit scary, so taking a bit more profits here.”

Source: Altcoin Sherpa/Twitter

APE is valued at $5.62 at time of writing.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Miner Marathon Digital’s Shares Downgraded After Compute North Files for Bankruptcy Protection https://marketiva.mobi/2022/09/23/bitcoin-miner-marathon-digitals-shares-downgraded-after-compute-north-files-for-bankruptcy-protection/ https://marketiva.mobi/2022/09/23/bitcoin-miner-marathon-digitals-shares-downgraded-after-compute-north-files-for-bankruptcy-protection/#respond Fri, 23 Sep 2022 18:30:43 +0000 https://news.bitcoin.com/?p=549152 Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors. Compute North Files for Chapter 11 Bankruptcy Protection Five […]]]>

Bitcoin Miner Marathon Digital's Shares Downgraded After Compute North Files for Bankruptcy Protection

Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors.

Compute North Files for Chapter 11 Bankruptcy Protection

Five months ago last April, Compute North revealed the company was building a 300 megawatt (MW) data center in Texas. Months before that at the end of 2021, Compute North entered a deal with Marathon Digital Holdings (Nasdaq: MARA) and the two firms planned to host more than 100,000 application-specific integrated circuit (ASIC) miners in data centers around the country.

Recent Chapter 11 bankruptcy protection filings now show Compute North is dealing with financial issues. Speaking with Steven Church and David Pan from Bloomberg, Kristyan Mjolsnes, head of Compute North’s marketing and sustainability team explained that the firm looks to stabilize operations.

Compute North seeks “the opportunity to stabilize its business and implement a comprehensive restructuring process,” Mjolsnes said. “[It] will enable us to continue servicing our customers and partners and make the necessary investments to achieve our strategic objectives,” the company’s executive explained.

The bankruptcy filing follows the company raising roughly $410 million in equity and debt funding this year. Furthermore, Compute North has had to deal with falling bitcoin (BTC) prices and at the end of June it was said that $4 billion in bitcoin mining loans were in distress. Falling bitcoin and crypto asset prices have triggered a number of bankruptcies stemming from digital currency lenders and cryptocurrency-backed hedge funds.

MARA Stock Downgraded Over Compute North’s Recent Bankruptcy Filing, Marathon Says Compute North’s Restructuring ‘Will Not Impact Current Mining Operations’

Compute North’s bankruptcy has affected Marathon Digital’s stock after BTIG analyst Gregory Lewis decided to downgrade the equity. Lewis said that Compute North’s recent filing will “weigh on MARA’s ability to grow its hash capacity. However, longer term, the bankruptcy of Compute North could provide an opportunity for MARA to build a data center infrastructure footprint at distressed pricing.” Marathon Digital also took to Twitter to discuss the recent bankruptcy filing.

“Today, a filing related to one of our hosting providers was published,” Marathon Digital tweeted. “Based on the information available at this time, it is our understanding that this filing will not impact our current mining operations. We are in communication with the hosting provider and monitoring their progress as they work through this process,” the bitcoin mining firm added.

What do you think about Compute North’s bankruptcy filing and Marathon’s stock getting downgraded? Let us know what you think about this subject in the comments section below.

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Two Crypto Assets Soar 40% or More in Just One Week, Far Outperforming Bitcoin and Ethereum https://marketiva.mobi/2022/09/23/two-crypto-assets-soar-40-or-more-in-just-one-week-far-outperforming-bitcoin-and-ethereum/ https://marketiva.mobi/2022/09/23/two-crypto-assets-soar-40-or-more-in-just-one-week-far-outperforming-bitcoin-and-ethereum/#respond Fri, 23 Sep 2022 18:05:34 +0000 https://dailyhodl.com/?p=218778 Two altcoins are up by at least 40% this week while the two leading cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), stall. XRP and fan-engagement token Chiliz (CHZ) are up by 14% and 9%, respectively, in the last 24 hours alone. XRP is up by 48% in the last seven days and CHZ is […]]]>

Two altcoins are up by at least 40% this week while the two leading cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), stall.

XRP and fan-engagement token Chiliz (CHZ) are up by 14% and 9%, respectively, in the last 24 hours alone.

XRP is up by 48% in the last seven days and CHZ is up by 40% over the same period.

A crypto legal expert recently said Ripple lawyers should feel confident in the XRP lawsuit with the U.S. Securities and Exchange Commission (SEC).

Pseudonymous crypto analyst CryptoDonAlt says the SEC lawsuit could boost XRP like Elon Musk did for Dogecoin (DOGE), sharing a graph of XRP’s relevant resistances.

“Elon Musk was to DOGE.

What the SEC case could be for XRP.

Would be cool if it played out the same way, doesn’t have to.

Never any guarantees but it’s an exciting narrative for what is essentially a meme coin…

I’m down for full send, these are the relevant resistances

I’ll mercilessly dump the moment I get cold feet (and ducks get cold feet easily – we don’t wear shoes) but until then I’ll be an XRP maximalist.”

Source: CryptoDonAlt/Twitter

CHZ appears to be riding a wave of momentum from a recent fundamental development.

One wave is hype on the project’s work toward launching CHZ 2.0, which will be its own native blockchain designed for high speed and scalability.

CHZ is also seeing a boom in whale activity, according to Santiment.

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Ripple Soars 50% on SEC Trial News While Crypto Markets Shed $40 Billion: This Week’s Recap https://marketiva.mobi/2022/09/23/ripple-soars-50-on-sec-trial-news-while-crypto-markets-shed-40-billion-this-weeks-recap/ https://marketiva.mobi/2022/09/23/ripple-soars-50-on-sec-trial-news-while-crypto-markets-shed-40-billion-this-weeks-recap/#respond Fri, 23 Sep 2022 16:33:15 +0000 https://cryptopotato.com/?p=216048 The past seven days were quite painful in the cryptocurrency market as the majority of it is trading well in the red. This resulted in $40 billion being lost from the total capitalization, which is inching closer to $900 billion. The most obvious outlier in this is Ripple’s XRP which soared by 50%. Let’s unpack. […]]]>

The past seven days were quite painful in the cryptocurrency market as the majority of it is trading well in the red. This resulted in $40 billion being lost from the total capitalization, which is inching closer to $900 billion. The most obvious outlier in this is Ripple’s XRP which soared by 50%. Let’s unpack.

Bitcoin’s price is currently sitting slightly below $19,000, down 5.7% in the past week. Seven days ago, it was trading at around $19,500 and even managed to poke above $20K on Sunday, but the bears were quick to intercept and push BTC back towards $18,500.

From there, the cryptocurrency made another attempt at recovery, but the Fed’s decision to once again hike interest rates sent the market south, and BTC was once again found at around the same level at $18,500. Since then, the cryptocurrency has failed to recover.

Most of the altcoins are also charting considerable losses, with ETH being in the lead, down over 12% weekly. It appears that the Merge failed to positively impact its price, at least for the time being. However, the most obvious outlier remains XRP, which managed to soar by a whopping 50% in the past seven days.

This happened mostly because the trial with the US Securities and Exchange Commission is moving closer to a decision, and it appears that the market is pricing in a positive settlement. Earlier in the week, both Ripple Labs and SEC filed motions to have an immediate ruling, and a decision might come as soon as the next couple of months.

Elsewhere, another significant event was the fact that Nasdaq rolled out cryptocurrency services focused on institutional investors. Nasdaq remains one of the largest stock exchanges, and its involvement with crypto is interpreted as a sign that big money is still interested in the asset class.

Yet, given the macro headwinds and overall unrest and uncertainty in the broader markets, it’s very interesting to see how the following months will shape up.

Market Data

Market Cap: $940B | 24H Vol: $81B | BTC Dominance: 37.4%

BTC: $18,701 (-5.7%) | ETH: $1,289 (-12.4%) | ADA: $0.45 (-3%)

Ripple

Nasdaq Rolls Out Cryptocurrency Service Focused on Institutional Investors. One of the world’s leading stock exchanges is set to enter the cryptocurrency market officially. The service giant recently announced that it will create a new unit that’s dedicated to the growing cryptocurrency industry.

The SEC is Angling to Take Authority Over All Ethereum Transactions in SPRK Suit (Opinion). The US Securities and Exchange Commission might be angling to take authority over all Ethereum transactions. This becomes clear after their argumentation in a recently-filed lawsuit against a 2018 ICO.

Michael Saylor Sees Bitcoin Trading at $69,000 in the Next Four Years. Michael Saylor, one of Bitcoin’s most vocal proponents and CEO of intelligence firm MicroStrategy, said that he sees BTC trading at $69,000 in the next four years. It’s also worth noting that his company recently bought another $6 million worth of the cryptocurrency.

JPMorgan CEO Slams Crypto Again, Calls Bitcoin’ Decentralized Ponzi Scheme.’ Jamie Dimon, the CEO of multinational investment bank JP Morgan, reiterated his negative stance on the broader cryptocurrency industry, saying that he is a major critic and that Bitcoin is a decentralized Ponzi scheme.

Kraken CEO Jesse Powell to Step Down After More Than a Decade. Jessee Powell, the co-founder of major cryptocurrency exchange Kraken, will be stepping down as a CEO after spearheading the company for more than a decade. However, Powell is also the largest shareholder, and he will remain the Chairman of the company’s board.

Bitcoin Falls to $19k as Federal Reserve Announces 75 BPS Rate Hike. The primary cryptocurrency by means of total market capitalization, saw its price drop to $19,000 as the US Federal Reserve announced another rate hike – this time by 75 basis points. The entire market went through major volatility.

Charts

This week we have a chart analysis of Ethereum, Ripple, Cardano, Solana, and Binance Coin – click here for the complete price analysis.

The post Ripple Soars 50% on SEC Trial News While Crypto Markets Shed $40 Billion: This Week’s Recap appeared first on CryptoPotato.

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