Business
Wazupnaija – Naija Entertainment blogs & Forums – Business
Tether scores win in class action case as court dismisses RICO claims
The judge in the class-action lawsuit filed in the Southern District of New York against stablecoin issuer Tether and crypto exchange Bitfinex has granted motions to dismiss many of the claims in the case. According to court documents filed Tuesday in the Southern District of New York, District Judge Katherine Polk Failla has granted motions from Tether’s and Bitfinex’s parent company iFinex to dismiss key claims in the plaintiffs’ case that the two firms manipulated the crypto market. Altogether, Judge Failla granted motions to dismiss five complete claims and part of one, while denying six others. Specifically, the judge said she would not allow investors to bring claims against Tether and Bitfinex under the Racketeer Influenced and Corrupt Organizations Act, or RICO, nor allegation...
Celer (CELR) gains 400% after traders embrace its multi-chain ‘cBridge 2.0’ solution
High transaction costs have been a thorn in the side of investors and developers for more than a decade and the issue became worse in 2021 after the emergence of decentralized finance (DeFi) and nonfungible tokens (NFT) led to record-high levels of activity across the cryptocurrency ecosystem. Since the completion of Ethereum’s London hard fork, cross-chain bridges and layer-2 solutions have been revised as options for mitigating the high fees on the Ethereum network. In the past two weeks, Celer, a layer-two scaling solution that utilizes off-chain transaction handling to help increase the throughput capacity of its network, has seen an uptick in user activity. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.0398 on Sept. 8, the price o...
Price analysis 9/29: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, AVAX, UNI
Bitcoin (BTC) and Ether (ETH) are attempting to bounce off their critical support levels as bulls try to thwart attempts by the bears to deepen the correction. Tesla CEO Elon Musk said at the Code Conference in California recently that governments cannot “destroy crypto,” due to its decentralized nature but can “slow down its advancement.” Data shows that whales have been moving record amounts of Bitcoin in the past two weeks. The total transfer volume of transactions worth $10 million and higher have surpassed levels seen when Bitcoin’s price was near $60,000. According to on-chain analytics resource Material Indicators, “smaller” whales sold and mega whales added to their holdings. Daily cryptocurrency market performance. Source: Coin360 Bobby Lee, the former CEO of BTCC exchange, said i...
Tehran Stock Exchange CEO resigns following discovery of Bitcoin miners in basement
Ali Sahraee, the chief executive officer of the Tehran Stock Exchange since 2018, has reportedly resigned after the discovery of cryptocurrency mining rigs in the building. According to a report from the country’s state-run media, the Islamic Republic News Agency, Tehran Stock Exchange, or TSE, market vice president Mahmoud Goudarzi will be leading the company following the departure of Sahraee. The change in leadership seems to be the result of “a number of miners” being discovered in the basement of the TSE building located in the district of Sa’adat Abad. The TSE reportedly initially denied the existence of the miners, saying the equipment was part of a research project. However, executive deputy director Beheshti-Sarsht later said the company should be held accountable for its ac...
Copernic Space and Lunar Outpost target space commercialization via NFTs
Copernic Space and Lunar Outpost are set to launch a public sale for tokenized payload space in a lunar lander headed for the moon in Q4 2022. According to an announcement issued on Wednesday, the blockchain space outfit Copernic Space and space robotics company Lunar Outpost will sell the payload space aboard the craft in the form of nonfungible tokens or NFTs. Corporate and retail buyers will be able to buy, fractionalize and resell payload space NFTs on Lunar Outpost’s M1 MAPP rover. Ownership of the NFT will reportedly confer ownership of the payload space within the lander denominated in kilograms (kg). Speaking to Cointelegraph, Copernic Space co-founder and CEO Grant Blaisdell said that the sale will cover 3.5kg of available payload space with an initial sale price of $4.25 million ...
Polkadot Web3 wallet Talisman closes $2.35M seed funding round
Talisman, a Polkadot Web3 wallet platform, has raised $2.35 million from early backers including Hypersphere Ventures, Koji Capital and Advanced Blockchain AG as well as several anonymous Flex Dapps investors. According to an announcement issued on Wednesday, with the funding round closed, Talisman is looking to launch a wallet extension by Nov. 22. Billed to be a DotSama — a portmanteau of Polkadot (DOT) and Kusama (KSM) — wallet, Talisman reportedly aims to enable cross-compatibility across the Polkadot and Kusama “paraverse.” Commenting on the decision to support the project, Jack Platts, partner at Hypersphere Ventures said, “Talisman is aiming to become the Paraverse gateway for everyday crypto users.” Talisman is reportedly building the first DotSama asset dashboard with features suc...
Cool green mayor giving a grand in Bitcoin to each resident
Cool Valley, Missouri, a small town of about 1,500 in the St. Louis County area, found itself the subject of international attention recently after its mayor, Jayson Stewart, announced that he planned to give each resident up to $1,000 in Bitcoin. Stewart, a passionate environmentalist who spent years cleaning up the world’s oceans and ran on a platform of correcting old mistakes, believes Bitcoin education holds keys to growing the prosperity, well-being and sustainability of his town. Just as he dreams of a world without the environmental damage caused by irresponsible litterers, he imagines a future where Bitcoin cleans up many of the ills of the financial system.Hoping to soon see a Bitcoin-friendly bank in town, Stewart sees Bitcoin as an avenue that can lift the town’s fortunes...
Bitcoin ‘FOMO rally’ long overdue that could see BTC price top $200K — Bobby Lee
Bitcoin is long overdue for a “FOMO rally” to new all-time highs that could touch $200,000 or more, say one of its oldest investors. In an interview with Bloomberg on Sept. 29, Bobby Lee, former CEO of exchange BTCC, cast aside any suggestion that the price of Bitcoin (BTC) was in trouble. Lee: Bitcoin has been due for next rally “for a long time” One of an increasing number of sources staying bullish on Bitcoin for Q4, Lee — who went on to found wallet manufacturer Ballet — dismissed recent price weakness. “It was only a 5% drop,” he said when asked about the recent dip to test the $40,000 support level. Despite hovering near $42,000 at the time of writing, Bitcoin can not only reclaim its existing all-time highs but go on to hit $100,000, $200,000 or even more. This, Lee suggested, ...
Thailand to launch TAT token to improve the tourism industry
TAT governor says new token will promote digital literacy among tourism operators to enable cryptourism in Thailand In a bid to capitalise on the increasing popularity of cryptocurrencies, the Tourism Authority of Thailand (TAT) has decided to launch a utility token dubbed TAT to enable the transfer of vouchers into digital tokens and provide operators with a greater level of liquidity. The initiative is the latest in a long list of countries looking to adopt cryptocurrencies in order to promote economic growth in a post-pandemic world. The authorities envision the token will be equipped with the benefits offered by crypto and provide a means of transfer of value without the risks of a speculative asset. They are currently in conversation with the Stock Exchange of Thailand regarding the m...
Eightcap to allow retail clients to gain access to over 250 crypto derivatives
Leading CFD broker Eightcap has launched more than 250 cryptocurrency derivatives, specifically targeting retail investors. Eightcap, an award-winning CFD broker, has announced the launch of more than 250 cryptocurrency derivative products. This latest development makes the broker the largest cryptocurrency offering available for retail clients. According to the broker, the crypto derivative will allow its clients to diversify their crypto portfolios via the MT4 and MT5 platforms. Thus, making it easier for thousands of cryptocurrency traders and investors to gain exposure to the crypto space. Joel Murphy, the CEO, Eightcap, said, “Our vision at Eightcap is to provide a new home for Crypto derivative traders by providing an unparalleled offering that includes the largest crypto derivative ...
Endeavor CEO Ari Emanuel Says ‘No’ to Buying UTA
He also said that the deal “validated” Endeavor’s strategy when it merged with WMA. “They are just coming to it 13 years later … Mazel tov,” he added. He also defended Endeavor’s representation business, pushing back against the notion that the company is ignoring it in favor of UFC or its other ventures. “I would say to you, we are the largest agency,” Emanuel said. “Our representation business, for the last 10 or 11 years, has grown double digits every year for 10 years. It is a very significant part of our business, and it is the core feeder for how our business grows.” He also argued that Endeavor continues to be important to its clients, particularly as the number of streaming services continue to grow, and as the power of ce...
Zilliqa price analysis: ZIL targets the $0.0851 resistance point
The cryptocurrency market is having a mixed start to the day, with some coins performing well while others are underperforming Bitcoin and Ether are both up by more than 1% over the past 24 hours, with BTC trading close to $42,500 while Ether is closing in on the $3,000 mark. Cardano and XRP’s performances aren’t impressive as they are only up by less than 1%. However, they both maintain their position as some of the top cryptocurrencies in the market. Polkadot and Dogecoin are trading in the red zone, with Solana and Binance Coin the best performers amongst the top ten cryptocurrencies by market cap. Zilliqa (ZIL) has been performing well in the past few hours, with its price now up by more than 3%. It could soar higher in the coming hours if it maintains its current momentum. Zilliqa pri...
