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The market isn’t surging anytime soon — so get used to dark times
Global markets are going through a tough period — including the cryptocurrency market. But judging by talk from the peanut gallery, it seems like some observers haven’t received the memo. “Feel like we’re relatively safe through mid-terms,” Twitter’s “CryptoKaleo” — also known simply as “Kaleo” — wrote in a Sept. 12 tweet to his 535,000 followers, referring to the United State’s November mid-term elections. The prediction was accompanied by a chart indicating his belief that Bitcoin’s (BTC) price would surge to $34,000 — a 50% gain from its roughly $20,000 level as of last week — before the end of the year. “Of course we can bleed lower,” fellow pseudonymous Twitter mega-influencer Pentoshi wrote in a Sept. 9 missive to his 611,000 followers. “But the market at this value...
GRNGrid secures 50 million USD investment Commitment from GEM Digital
ZUG, SWITZERLAND, 19th September, 2022, Chainwire The GRN Association announced today that it has secured an investment totaling $50M for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies. About GRNGrid GRNGrid is an environmentally friendly, scalable, and stable Layer 1 blockchain, with novel DeFi features. On GRNGrid, users have the choice to only use nodes running exclusively on renewable energy for their transactions. GRNGrid’s renewable energy partners, who specialize in data center and hosting facilities, have shown keen interest in running Grid’s nodes as validators. With their help, the company can kickstart the availability, speed, and sustainability of GRNGrid in Q2 2023. GRNGrid’s novel features as GRNPay and Exnode will also encourage...
Huobi Global to List Inery Token on September 28th, 2022
Singapore, Singapore, 19th September, 2022, Chainwire Inery, a decentralized data system, announces the official listing of its token on Huobi Exchange is set to go live on September 28, 2022. Huobi Exchange is one of the world’s leading crypto exchanges, supporting over 1000 trading pairs and more than 600 cryptocurrencies. Inery takes a different approach to decentralizing data and data management for both Web2 and Web3 companies while streamlining the shift to the decentralized web. Inery ecosystem is curated to enable decentralized data management by integrating blockchain functionalities like immutability, security, and owner-controlled data assets with the distributed database properties to enable high performance, low network latency, and complex query functions. The ecosystem is se...
Inside Track: Warner Music Group Closes In on Robert Kyncl as Next CEO
Former YouTube chief business officer Robert Kyncl is in serious talks to succeed outgoing Warner Music Group CEO Stephen Cooper, and sources familiar with the situation say his tech background has made him the frontrunner in the music group’s search for a new leader. One source says WMG has yet to make a final decision but adds it’s possible a deal could be reached within the next few weeks Talks are said to be progressing, and there’s a sense that Kyncl the frontrunner given his background and the desire for someone who is very plugged in to the business side of the tech world, says another insider. Other candidates remain in the running, says the source — SiriusXM president/chief content officer Scott Greenstein, Warner board member and Vice CEO Nancy Dubuc and former Pandora CEO Roger ...
A day after blackout, Fiona dumps more rain on Puerto Rico
The storm stripped pavement from roads, tore off roofs and sent torrents pouring into homes. It also took out a bridge and flooded two airports. Authorities reported one death from the hurricane — a man swept away by a flooded river in the inland town of Comerio. Puerto Rico officials said it was too early to know the full scope of damage. The storm was still expected to dump up to 15 inches (38 centimeters) of rain in some places as it spun away from the U.S. territory that is home to 3.2 million people. One death was associated with the blackout — a 70-year-old man who was burned to death after he tried to fill his generator with gasoline while it was running, officials said. Gov. Pedro Pierluisi declined to say how long it would take to fully restore electricity, but he said for most cu...
South Korean authorities ask Interpol to issue ‘Red Notice’ for Do Kwon: Report
South Korean prosecutors have reportedly requested Interpol intervene in their case against Terra co-founder Do Kwon by issuing a “Red Notice” — suggesting global law enforcement agencies may attempt to find and detain him. According to a Monday report from the Financial Times, the Seoul Southern District prosecutors’ office said it had “begun the procedure” to place Kwon on Interpol’s Red Notice list following steps to revoke the Terra co-founder’s passport while he was in Singapore. Interpol’s website states that a Red Notice is requested by authorities “locate and provisionally arrest a person pending extradition, surrender, or similar legal action,” but the agency cannot compel local law enforcement to arrest the subject of such notice. “We are doing our best to locate and ...
Panda DAO says it will dissolve and return investor’s assets due to internal strife
On Monday, decentralized autonomous organization Panda DAO put forth a new proposal to dissolve itself and return assets back to investors. According to the seven-point referendum, between 500 million and 700 million PANDA tokens out of the 1.292 billion PANDA in circulation would be distributed among investors. Of those remaining, some would be redistributed among liquidity providers. Meanwhile, an estimated 50 million PANDA will be burned, and another 44.56 million PANDA will go toward compensation for eight of the project’s core developers. Should the referendum pass and the dissolution process complete, the Panda dev team plans to remove PANDA from Uniswap, publish all of the project’s open source code and shut down all social media under the Panda DAO umbrella. As for reas...
XRP price risks 30% decline despite Ripple’s legal win prospects
Ripple (XRP) price was wobbling between profits and losses on Sept. 19 despite hopes that Ripple would eventually win its long-running legal battle against the U.S. Securities and Exchange Commission (SEC). Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a security or not. From the updates of the case, it sounds like it’s in the favor of @Ripple pic.twitter.com/SAyl4VLxdM — Jeff Sekinger (@JeffSekinger) September 19, 2022 Fed spoils SEC vs. Ripple euphoria The XRP/USD pair dropped by over 1% to $0.35 while forming extremely sharp bullish and bearish wicks on its Sept. 19 daily candlestick. In other words, its intraday performance hinted at a growing bias conflict among traders. XRP/USD daily price chart. Source: TradingView The inde...
Russian official says bill to give businesses leeway in use of crypto internationally
A Russian Finance Ministry official has provided new details about a bill on digital currencies, whicht is currently being drafted. The bill provides local infrastructure for settlements and regulation on mining, but will leave many details for businesses to work out on their own, the Finance Ministry’s Financial Policy Department head Ivan Chebeskov said Monday at a roundtable hosted by the International Chamber of Commerce Russia in Moscow. Interfax quoted Chebeskov as saying: “It is not completely clear how it should be regulated, so we give businesses the opportunity with this bill to pay with cryptocurrency, but in terms of what cryptocurrencies will be used, how to negotiate with counterparties, with which countries it will operate — all this we are leaving to entrepreneurs....
R&B Group WanMor Signs With Mary J Blige’s Beautiful Life Productions
R&B quartet WanMor announced on Monday (Sept. 19) their new deal under Mary J Blige’s Beautiful Life Productions and 300 Entertainment. “There’s been so much conversation about the state of R&B and the next generation of R&B artists,” says Mary J. Blige. “This generation has been giving us great R&B, and that feeling, that soul, and that sound remains in our DNA. When we heard WanMor sing, we knew we could stop looking. They are IT! Supporting and cultivating true R&B talent is why I started Beautiful Life Productions, and I couldn’t be more proud to do this with these young men.” “WanMor is what we have been missing in music. There’s no one out like them,” says Kevin Liles, chairman & CEO of 300 Entertainment and Elektra Music Group. “It all comes down to their voi...
Australian senator drafts bill aimed at stablecoin, digital yuan regulation
Australian Liberal Senator Andrew Bragg has released a new draft bill aimed at clamping down on digital asset exchanges, stablecoins, and China’s central bank digital currency, the e-Yuan. In a statement on Sept. 18, Senator Bragg stated that “Australia must keep pace with the global race for regulation on digital assets” as “it is essential that the parliament drives law reform” on the matter. The new draft bill, titled Digital Assets (Market Regulation) Bill 2022, calls for the introduction of licenses for digital asset exchanges, digital asset custody services, stablecoin issuers, as well as disclosure requirements for facilitators of the e-Yuan in Australia. Australia must keep pace in the digital assets race: a bill to protect consumers, promote investment & protect our inter...
Crypto market bloodbath leads to $432M in liquidation
The crypto market turmoil entered the third week of September as most of the cryptocurrencies started the week on a bearish note. The total crypto market cap dipped below $1 trillion again, with several cryptocurrencies recording a double-digit downfall over the past 24 hours. The ongoing bearish turmoil has led to nearly half a billion in liquidations for the leverage crypto traders over the past 24 hours. Data from Coinglass highlight that 130,087 traders were liquidated with a total liquidations value of $431.51 million. Bitcoin (BTC) leverage traders lost $44.5 million, followed by Ether (ETH) traders with a total liquidation of $8.39 million. Long traders made a significant chunk of losses on majority of the exchanges with the average difference between the amount of long and short li...
