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The New Allowance for Celsius The new verdict in relation to the platform’s Bankruptcy proceedings was pronounced by Judge Martin Glenn of the Southern District of New York and the liquidations will pave the way for the distribution of the funds to creditors in the near future. advertisement The proposal was ratified after the discussion between Celsius Network handlers and the United States Securities and Exchange Commission (SEC). According to the Bankruptcy Judge, the embattled lender may “may sell or convert any non-BTC and non-ETH cryptocurrency, crypto tokens, or other cryptocurrency assets other than such tokens that are associated with Withhold or Custody accounts … to BTC or ETH commencing on or after July 1, 2023.” Celsius Network was one of the first firms to go bankrupt last year after Terraform Labs and its associated tokens Terra (LUNA) and TerraUSD (UST) imploded. Despite its Bankruptcy declaration filed months ago, Cel...

Yesterday, the engineering team from Polygon Labs released a proposed architecture for Polygon 2.0. Polygon 2.0 comprises four distinct layers: Staking, Interop, Execution, and Proving. Since the architecture for Polygon 2.0 was released, the price of MATIC rose by more than 4%. Yesterday, Polygon Labs’ engineering team shared a proposed architecture for Polygon 2.0. This new version of Polygon is designed to provide unlimited scalability, and unified liquidity, and to realize the vision of Polygon as the “Value Layer of the Internet”. Polygon 2.0 comprises four distinct layers: Staking, Interop, Execution, and Proving. This layered approach is expected to simplify implementation, upgrades, and overall efficiency within the network. The Staking Layer, built on Ethereum, utilizes a Proof-of-Stake (PoS) consensus mechanism, providing decentralization to participating Polygon chains. It will enable a common validator pool and offers rewards to validators in Polygo...

The lower house of North Carolina’s General Assembly has approved a bill that proposes the state’s Department of State Treasurer conducts a study to assess the feasibility and potential advantages of incorporating bitcoin into the state’s holdings. The study aims to explore the potential impact of cryptocurrency and gold investments on North Carolina’s funds if a portion were allocated to these assets. A study for secure storage Titled the “State Precious Metals Depository Study,” the recently introduced bill focuses on the secure storage, insurance, and liquidation of virtual currency on behalf of the state. It has now advanced to the Senate for further deliberation, highlighting the recognition of the increasing significance of virtual currency, as defined in G.S. 53-208.42(20), and the proposal’s intention to assess its potential impact on the state’s financial strategy. Another #Bipartisan Victory in NC w/ passage of HB721 |...

The study would examine the possible impact of holding crypto and how the state would custody a digital currency. A bill that would see North Carolina’s Treasurer study the feasibility and benefits of the state holding Bitcoin (BTC) has passed the lower house of the state’s legislature. On June 28, the House passed the bill which would commission a $50,000 study to examine “acquiring, securely storing, insuring, and liquidating” both gold bullion and “virtual currency [...] such as Bitcoin.” The study would investigate what impact gold and cryptocurrency holding s would have if North Carolina held part of its funds in crypto and gold. Specifically, it would research if such holdings would be a hedge against inflation and “systemic credit risks” along with if gold and crypto could reduce volatility and increase returns on its portfolio. Another #Bipartisan Victory in NC w/ passage of HB721 | #Bitcoin/#DigitalAssets/Custody Study Bill -Passed 75-38 -GOP + Dems Came Together -Direct...

Join Our Telegram channel to stay up to date on breaking news coverage The fact that DeeLance’s presale has already raised over $1.4 million demonstrates the potential for it to transform the freelancing industry. By capitalizing on the trustworthiness of blockchain technology, the freelancing platform DeeLance intends to cause some uproar in the existing job environment. DeeLance connects freelancers with companies directly The work environment is getting spread out as the entire world gets increasingly connected to the internet. Businesses have moved operations online to cut costs and gain access to a larger pool of talent, while individuals have begun to offer their services to several employers at once. Using the incredible strength of blockchain technology, this decentralized network completely transforms the relationship between freelancers and prospective clients. DeeLance is a new platform for freelancers to find and work with businesses. The site takes it...

HKVAC’s recent release of the cryptocurrency index has created controversy regarding the exclusion of some cryptocurrencies. The index excluded SOL, AVAX, UNI, and ETC while it included FTM and EOS. The agency responded that the cryptocurrencies would be considered to be included by July 14. The rating agency Hong Kong Virtual Asset Consortium’s (HKVAC) recent release of the virtual asset index has been a subject of controversy since the agency excluded the leading cryptocurrencies like SOL, AVAX, UNI, and ETC while it included FTM and EOS. Responding to the dissension, HKVAC assured that the agency would rebalance the index by July 14, considering the inclusion of those cryptocurrencies. A Chinese crypto reporter Colin Wu, on his Twitter page Wu Blockchain, shared a thread, shedding light on KKVAc’s response to the ongoing arguments regarding its virtual asset index. SOL AVAX UNI ETC were not included; FTM EOS included; causing controversy. HKVAC respon...

Swiss authorities have taken action to freeze around $26 million worth of bitcoin (BTC) and other crypto currencies linked to Terraform Labs, its founder, Do Kwon, and other key individuals involved in the collapsed Terra algorithmic stablecoin project. More trouble for Do Kwon  Swiss authorities have reportedly frozen approximately $26 million in bitcoin (BTC) and other cryptocurrencies belonging to the founder of Terraform Labs, Kwon Do-hyeong, and other prominent figures in the company.  The crypto assets were stored in the custody of Sygnum Bank, a Switzerland-based crypto-friendly bank.  The freezing of the crypto assets is the latest development in a series of events that unfolded after the collapse of Terraform Labs’ algorithmic stablecoin, UST, in May 2022. Do Kwon has been at the centre of the scandal and is currently held responsible for over $40 billion in losses by investors.   Montenegro’s interior minister, Filip Adzic, alleg...

The co-founders of ELOOP and Peaq told Cointelegraph that tokenizing high-value assets, like a fleet of ride-sharing cars, will help bring Web3 into the mainstream. A Vienna-based car-sharing service company has outfitted nearly half of its 200+ fleet of cars with blockchain-based self-sovereign IDs for tokenization purposes. On June 27, the car-sharing service Eloop and the Peaq Network — a Web3 ecosystem for the economy of things — announced that 100 Teslas had been tokenized via Peaq. The blockchain integration allows users to own a fraction of the fleet and share the revenue the cars generate from daily rideshare operations. Cointelegraph spoke with the co-founders of Eloop, Nico Prugger, and peaq, Leonard Dorloechter, in Vienna about decentralized car sharing , mass adoption of Web3 and the future of blockchain-based high-value assets. An ELOOP tokenized Tesla on the streets of Vienna. Source: Cointelegraph Prugger explained to Cointelegraph that as soon as a user owns a token, t...

Following what has been an impressive turn of events, Pepe Coin (PEPE) has seen its trading volume exceeds both Dogecoin (DOGE) and Shiba Inu (SHIB). Moreover, as the asset has seen its price increase over a 100% from the lows it experienced in early June, what could come next? The trading sentiment for the asset has likely become bullish, considering the data. Subsequently, it has seen its trading volume surpass two of the largest assets in the meme coin market. Yet, can the interest in the coin and its impressive turnaround catapult it to brand-new highs?  Source: Outlook India Pepe Trading Volume Jumps DOGE and SHIB Pepe Coin has been a rather interesting story developing in the digital asset industry. Seemingly emerging out of nowhere, the meme coin had burst onto the scene, competing with some of the heavy hitters that the meme coin market presented. However, following a downturn as fast as its meteoric rise, it appears as though a trend upward could be in the cards. Now, data fro...

Glassnode reveals a more balanced regime in the Bitcoin Accumulation Trend Score. Only the Dolphin to Shark cohort, with 100 to 1,000 BTC, is still experiencing aggressive distribution. The nature of the transition shows a fading distribution intensity among Bitcoin holders with 0 to 100 BTC. Data from Glassnode, the on-chain and financial metrics platform, reveals a more balanced regime in the Bitcoin Accumulation Trend Score by Cohort. The Bitcoin market metric transitioned from a heavy distribution to a balanced one. Glassnode indicates that only the Dolphin to Shark cohort, with 100 to 1,000 BTC, is still experiencing aggressive distribution. The #Bitcoin Accumulation Trend Score by Cohort has transitioned from a regime of heavy distribution, to a balanced regime, with only the Dolphin to Shark cohort (100K-1K BTC) experiencing aggressive distribution. pic.twitter.com/GgJ486BhBD — glassnode (@glassnode) June 25, 2023 The nature of the transitio...

The XRP Buyback Concern There has always been a full understanding on the role of Ripple with respect to the release of XRP coin from escrow to help in managing the supply of the cryptocurrency. While these buybacks are crucial to help manage liquidity, there is a hazy understanding on the role the firm plays as it relates to the buyback of the coin. advertisement The buyback strategy is most specific to stocks in which the company deflates the supply of the asset by acquiring them from the open market to introduce the element of scarcity. There has never been an official comment regarding this and with the subject coming up again in the community, the company’s CTO, David Schwartz has waded into the conversation. He noted that the company does make purchases of XRP but he is not sure if it fits into the same context as is being presented in the current conversation. He noted that with the broad speculations, there is no official source mentioned that an...

Join Our Telegram channel to stay up to date on breaking news coverage The initiative that aims to offer a low entry point into the yachting industry, OSEAN DAO, has been successfully launched on Pancakeswap. They believe their company concept combines the best aspects of both the stability and security of actual assets with the expansion potential of cryptocurrencies in a novel and creative way. What is OSEAN DAO An organization named OSEAN DAO was created to make investments in the yacht market and yacht charter business. The initiative seeks to tokenize professional yachts, provide investors with a low barrier to entry into the market, and earn income through their commercial exploitation. OSEAN DAO will be a Marshall Islands-registered LLC company with the legal authority to acquire other SPEs (single purpose entity) that will own tangible assets. LLC wrapping will act as a link between cryptocurrency and real-world businesses. With $Osean in #crypto we invest in yacht...