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Logan Paul unveils $1.5M CryptoZoo recovery plan
YouTuber Logan Paul has unveiled a $1.5 million recovery plan for the people who invested in his beleaguered NFT project CryptoZoo. Announcing the move in a video shared via Twitter on Jan. 13, Paul reiterated that he is no longer looking to sue fellow YouTuber Coffeezilla for defamation over accusations he made in a critical series of videos on Paul’s NFT project. My 3-step plan for CryptoZoo, including a $1.3M rewards program for disappointed players. Thank you, @coffeebreak_YT pic.twitter.com/xFX017UHoc — Logan Paul (@LoganPaul) January 13, 2023 As such, Paul emphasized that he is instead focused on fixing CryptoZoo, delivering on the roadmap and making things right with fans and investors: “The fact is, suing Coffeezilla is not going to help Cryptozoo holders so I do need to focus my a...
Skybridge eyes stake buyback from FTX, as Galaxy CEO says he would like to ‘punch’ SBF
SkyBridge Capital CEO Anthony Scaramucci said that his firm can buy back the stake of the company it sold to FTX back in September last year. While Galaxy Digital CEO Mike Novogratz has indicated that he would be tempted to “punch” SBF right in the jaw. SkyBridge and FTX FTX Ventures acquired a 30% stake in the alternative asset manager SkyBridge for an undisclosed fee on Sept. 9, just a couple of months before FTX filed for bankruptcy in November. Speaking to CNBC on Jan. 13, Scaramuci noted that in light of FTX’s troubles, SkyBridge is making progress in buying back that stake, but suggested the move wouldn’t be able to get sorted “until probably the end of the first half of this year.” “We’re waiting for the clearance from the bankruptcy people, the lawyers and the investment bankers to...
Bitcoin price blasts past $21K as 3-day short liquidations near $300M
Bitcoin (BTC) continued a stunning comeback on Jan. 14 as $21,000 appeared for the first time since early November. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin cracks key trend line for first time since $69K Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it hit highs of $21,247 on Bitstamp overnight. The pair had faced major suspicion after it began to make up some serious lost ground through the week, with analysts warning that a retracement could occur at any time. Nonetheless, only brief periods of consolidation accompanied Bitcoin’s ascent, with weekly gains sitting at nearly 25%. In doing so, BTC/USD took out its realized price at $19,700, old all-time high from 2017, $20,000 and the 200-day moving average. The latter saw its...
Polygon tests zero-knowledge rollups, mainnet integration inbound
Ethereum layer-2 scaling protocol Polygon (MATIC) is carrying out performance testing of zero-knowledge rollup (zk rollups) technology ahead of full integration with its mainnet. The development of the technology, called Polygon zkEVM (Ethereum Virtual Machine), has been ongoing for over three years by the Polygon Hermez team. The team has already confirmed that zero-knowledge proofs are possible on Ethereum, by generating over 12,000 zk-proofs in a primary version of the zkEVM testnet. David Schwartz, project lead of Polygon zkEVM and PolygonID, unpacked the development of the functionality in correspondence with Cointelegraph. Layer-2 platforms have continued to evolve and improve functionality which has played a key role in driving Ethereum’s scalability. As he explained, zero-kno...
Apple CEO Tim Cook To Take a 40% Pay Cut In 2023
Apple‘s recently released annual proxy statement has unveiled some surprising news regarding CEO Tim Cook‘s salary. The document reveals that Cook is slated to take a 40% pay cut in 2023 and the adjustment was made by the CEO himself. Endgadget reports that Apple’s annual advisory meeting with the shareholders in 2022 saw that only 64% of the “Say on Pay” votes cast were in favor of executives retaining their 2021 pay packages. Although it was still a majority, the numbers are a far decline in approval. The year prior saw 94.4% of shareholders in favor of the compensation proposals for executives. Taking into account the steep decline in approvals, Apple’s Compensation Committee decided on this year’s pay package in reflection of the data. Under Cook’s own recommendation, he suggested: “to...
Bitcoin price rally over $21K prompts analysts to explore where BTC price might go next
After Bitcoin (BTC) hit a yearly high of $21,095 on Jan. 13, where is it headed next? Bitcoin is currently witnessing an uptick in bullish momentum after the positively perceived Consumer Price Index (CPI) report was followed by a strong rally across the crypto market. The recent rally in Bitcoin is creating increased volume levels and higher social engagement on whether the price is in a breakout of fakeout mode. Is the Bitcoin bear market over? While the market is still technically in a bear market compared to last week, investor sentiment is improving. According to the Fear and Greed Index, a crypto-specific metric that measures sentiment using five weighted sources, investors’ feelings about the market hit a monthly high. Bitcoin Fear and Greed index. Source: alternative.me Bitco...
Alameda Research liquidators lost $72K during fund consolidation attempt
The liquidators of Alameda Research continue to encounter obstacles in their efforts to recover funds for creditors. Crypto analytics firm Arkham disclosed on Twitter that the liquidators lost $72,000 worth of digital assets on the decentralized finance (DeFi) lending platform Aave while trying to consolidate funds into a single multisignature wallet. The liquidators were attempting to close a borrow position on Aave but instead removed extra collateral used for the position, putting the assets at risk of liquidation. Arkham reported that over nine days, the loan was liquidated twice for a total of 4.05 Wrapped Bitcoin (WBTC), which creditors will now not be able to recoup. This resulted in the liquidation of around 4 WBTC, $72K at current prices. When positions are forcibly closed on...
Grayscale files brief in ETF suit against SEC, oral arguments may come within months
Grayscale filed a reply brief in its appeal of the United States Securities and Exchange Commission (SEC) denial of its application to convert its $12-billion Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin (BTC) exchange-traded fund (ETF). The brief, filed in the District of Columbia Circuit Court, addressed points made in the SEC reply brief filed in December and restated its own arguments. The SEC based its decision on findings that Grayscale’s proposal did not sufficiently protect against fraud and manipulation. The agency had made similar findings in a number of earlier applications to create spot-based BTC ETFs. 1/ As part of our suit challenging the SEC’s decision to deny $GBTC conversion to a spot #bitcoin #ETF, @Grayscale just filed our Reply Brief with the DC Circu...
Total crypto market cap closes in on $1T right as Bitcoin price moves toward $20K
The total cryptocurrency market capitalization reached its highest level in over two months on Jan. 13 after breaking above the $900 billion mark on Jan. 12. While the 15.5% year-to-date gain sounds promising, the level is still 50% below the $1.88 trillion crypto market cap seen before the Terra-Luna ecosystem collapsed in April 2022. Crypto markets total capitalization, USD. Source: TradingView “Hopeful skepticism” is probably the best description of most investors’ sentiment at the moment, especially after the recent struggles of recapturing a $1 trillion market capitalization in early November. That rally to $1 trillion was followed by a 27.6% correction in three days and it invalidated any bullish momentum that traders might have expected. Bitcoin (BTC) has gained 15.7% year-to-...
Trust is key to crypto exchange sustainability — CoinDCX CEO
Investor sentiment has always been a critical driver in the crypto space. Both positive and negative sentiment influence ongoing trends — be they price movements, product launches or regulations. In 2022, sentiment worldwide suffered as major crypto firms and ecosystems collapsed, further straining investors amid an unforgiving bear market. While many showed resilience as Terraform Labs, Celsius and Voyager, among others, closed down, Sam Bankman-Fried’s alleged misappropriation of FTX customers’ funds drove even the most die-hard crypto investors to question the integrity of those running the show. A series of scams, crashes, bankruptcy filings and court cases have forced investors to rethink how they store crypto and seek accountability from crypto exchanges. Proof of reserves (PoR) beca...
Ethereum ‘shark’ accumulation, Shanghai hard fork put $2K ETH price in play
Ether (ETH) price technicals suggest that 35% gains are in play by March 2022 due to several bullish technical and fundamental factors. Ether price rises above two key moving averages On Jan. 8, Ether’s price crossed above its 21-week exponential moving average (21-week EMA; the purple wave) and 200-day simple moving average (200-day SMA; the orange wave). Historically, these two moving averages have separated bull and bear markets. When ETH’s price trades above them, it is considered to be in a bull market, and vice versa. ETH/USD daily price chart featuring 21-week EMA and 200-day SMA. Source: TradingView The last time Ether crossed above its 21-week EMA and 200-day SMA was in April 2022. But this was a fakeout, in part due to the collapse of Terra (LUNA) the following month. B...
Bitcoin price wants to retest 2017 all-time high near $20K — Analysis
Bitcoin (BTC) stayed near $19,000 at the Jan. 13 Wall Street open as traders hoped a week of swift gains would stick. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView BTC price “breakout or fakeout remains to be seen” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD crisscrossing the $19,000 mark as United States equities began trading. The pair rapidly took out sell-side liquidity overnight, gapping higher to what on-chain analytics resource Material Indicators forecast could be a retest of the $20,000 mark. “Seems like BTC is setting up for a retest of resistance at the 2017 Top,” it wrote in part of a Twitter discussion on Jan. 12, the day prior. “Whether we see a bonafide breakout or fakeout remains to be seen. Time for patience and discipline.” An accompany...
