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FTX 2.0 is planning to amend this plan based on feedback from stakeholders. Thus, it proposes valuing customer claims in USD as of the date of bankruptcy. As per the court papers, the restructuring plan involves FTX 2.0 repaying the creditors by attaching assets tied to different verticals of the business. Furthermore, the filing shows that FTX 2.0 still hasn’t ruled out the rebooting of its offshore exchanges. advertisement Three recovery pools will be used to guide creditor repayments. These pools include assets from FTX.com customers, FTX US customers, and assets not directly connected to the exchanges. The company considers most proposed creditor classes impaired, indicating that it does not expect to fully compensate them. FTX 2.0 Suggests No Recovery of FTT Tokens The restructuring plan for FTX 2.0 calls for no recovery of the FTT tokens citing their “equity-like characteristics”. The US bankruptcy reorganization plan usually wipes out the equity c

Terra Luna Classic Community Passes Key Proposal Proposal 11653 “Enhancing Governance And Decentralization In The Transition to Commonwealth” is officially passed by the Terra Luna Classic community. advertisement The proposal received 94% votes in favor of the proposal. Meanwhile, 3% voted “Abstain” and others voted to reject the proposal. Thus, the community favors the proposal to improve governance and decentralization in the Commonwealth forum. Among 40 LUNC validators that voted, 25 validators such as Allnodes, 1maxfee, TCB, JESUSisLORD, StakeBin, and Lunanauts approved the proposal. The proposal aims to address concerns related to the transition from Agora to Commonwealth recently, which happened without community voting and transparency. He claims the transition was moderated by Edward Kim, Rexx, and Bilbo Baggins without community involvement. It caused Rexx and Bilbo Baggins to become administrators, which is against the core principles of decentraliza

Elon Musk’s connection with Dogecoin has gained widespread attention in the cryptocurrency community. Musk has consistently shown his fondness and backing for the prominent meme coin through various means. However, recent events have resulted in a lawsuit, with Dogecoin investors alleging insider trading involvement by Musk concerning Dogecoin . Also read: Shiba Inu Weekly Burn Update: 268 Million SHIB Burned Musk’s active involvement has played a significant role in elevating Dogecoin from a mere meme to its current status. His tweets regarding Dogecoin , the acquisition of Twitter , and the recent rebranding of Twitter to “ X ” have all contributed to influencing the price of DOGE. In one of his recent tweets, Musk hinted that “something special soon” is coming. The tweet caught the attention of the Dogecoin community. 👀 — Sir Doge of the Coin ⚔️ (@dogeofficialceo) July 29, 2023 Speculations of Dogecoin incorporation on Twitter rise Even though Musk hasn’t

Apple has been asked to disclose the App Store’s policies surrounding the treatment of crypto applications. Two members of the U.S. Congress wrote to Apple CEO Tim Cook seeking info on the App Store. The lawmakers also raised concerns about the impact of Apple’s policies on America’s technological leadership. Members of the United States Congress have taken aim at tech giant Apple for the seemingly restrictive guidelines followed by its iOS App Store. The lawmakers raised concerns about the impact of the App Store’s policy for crypto-related applications on the broader blockchain space of the country. In a bipartisan initiative, Democratic Congresswoman Jan Schakowsky and Republican Congressman Gus Bilirakis wrote a letter to Apple CEO Tim Cook seeking information about the tech firm’s guidelines for interacting with crypto-related applications on the App Store. The lawmakers also highlighted Apple’s questionable conduct in the context of fair market practice

Terra Luna Classic L1TF Partners Hexxagon Joint L! Task Force lead Vinh Nguyen on July 28 announced a collaboration with validator Hexxagon. He said the partnership aims will increase security for the community-owned Station, Finder, and web wallet extension. advertisement With Proposal 11645 to build a community-owned wallet passed, L1TF is tasked with building the wallet from funds it received from the community pool. According to the GitHub document, both teams will operate in the same account owned by the Joint L1 Task Force. The alliance will be called Terra Classic Task Force and professor Edward Kim will have the authority of “ terraclassic.community ” domain. Hexxagon will develop Station, Finder, and wallet web extension, as well as related dependent packages. Also, Hexxagon members will be responsible for maintenance and infrastructure. L1TF will assist, conduct assessments, review, and check all pull requests to the Station, Finder, and web extens

The Deaton Perception of XRP Holders According to Deaton, the 75,000 XRP holders are a mix of a very diverse set of individuals composed of Republicans, Democrats, Independents, Progressives, Conservatives, Capitalists, Socialists, and Libertarians amongst others.  advertisement This diversity pushed Deaton to opine that the whole crypto narrative should be a bipartisan subject. Deaton made these comments in response to earlier tweets from Jason Gottlieb who noted that though he is a Democrat, he believes in the progressive case for crypto, in contrast to the perceived crackdown on the industry as championed by Senator Elizabeth Warren and SEC Chairman, Gary Gensler. One the best things about the 75K # XRP holders who joined together, is the diversity. Republicans, Democrats, Independents, Progressives, Conservatives, Capitalists, Socialists, Libertarians, etc. Crypto should be a bipartisan issue. When it appeared to me that the incumbent… https://t.co/rXDcWk

According to crypto Analysis firm LookOnChain, a couple of whales purchased 1.56 trillion Pepe Coin tokens for a total of 1,100 ETH. The value of the purchase in dollar terms is about $2.06 million. The first whale called “yougetnothing.eth” spent 600 ETH, or $1.12 million for 874 billion tokens, while another, “0x4631,” spent 500 ETH, or $936,000, for 685 billion tokens. 2 whales bought 1.56T $PEPE with 1,100 $ETH($2.06M) today. yougetnothing.eth spent 600 $ETH($1.12M) to buy 874B $PEPE at $0.000001286 ~12 hrs ago. 0x4631 spent 500 $ETH($936K) to buy 685B $PEPE at $0.000001366 ~6 hrs ago. pic.twitter.com/DQx3biCSh2 — Lookonchain (@lookonchain) July 27, 2023 Pepe’s price, on the other hand, has jumped 6.6% in the last 24 hours, while trade volume has gone up by 49.5%, currently at $224.9 million. Moreover, according to CoinGlass, the frog-themed crypto’s open interest has risen by 3.85%, currently at $31.51 million. However, weighted open interest is at -0.0115%, meaning that sh

Top cryptocurrencies including Bitcoin and Ether have consolidated ahead of today’s FOMC meeting. Crypto experts expect BTC to rally following the widely anticipated interest rate hike by the US Federal Reserve. Traders’ sentiment appears to be divided with a near 1:1 ratio on BTC long and short positions on major exchanges. Top cryptocurrencies, including Bitcoin and Ether, are consolidating ahead of today’s FOMC meeting, where a rate hike of 25 basis points is expected. Crypto experts have predicted that an interest rate hike followed by a pause would drive up the price of BTC and ETH, though most traders are looking forward to a pause rather than another hike. The Federal Open Market Committee (FOMC) meeting scheduled for later today is arguably the most anticipated event of this month for traditional finance. However, its impact has historically spilled over to the crypto market as well, with mainstream cryptocurrencies often reacting to the U.S. Federal

Big Four accounting firm Deloitte said the partnership could help authorities identify and take down bad actors hiding "behind the keyboard." Professional services giant Deloitte is set to boost its clients’ blockchain-tracking capabilities following a strategic alliance with crypto analytics firm Chainalysis. Announced during a Chainalysis conference in Washington DC on July 25, the tie-up will see Chainalysis’ blockchain datasets, analytics software and training programs assist Deloitte’s clients with their crypto forensic, investigative and compliance needs. A Chainalysis spokesperson told Cointelegraph that the alliance had been in the works for years, with the aim of helping more organizations to adopt blockchain technology. Our alliance with @Deloitte, announced today at #TraceDC, will provide public and private organizations with bespoke solutions and specialized services related to risk, compliance, and investigations. Read more:https://t.co/NqbPPA6HYb pic.twitter

Sky Mavis executive Kathleen Osgood said that the catalyst for the revival of blockchain gaming would be an experience that understands the motivations driving users into Web3. Sky Mavis, the company behind the popular play-to-earn (P2E) blockchain game Axie Infinity, has announced a partnership with the Ethereum-based nonfungible token (NFT) collection CyberKongz to create a more comprehensive gaming ecosystem for the Ronin blockchain. In the announcement, the company also teased the creation of a new game, though it only provided scant details about the upcoming game development. However, Kathleen Osgood, the head of business development at Sky Mavis, told Cointelegraph in a statement that the new game will be interoperable by integrating with existing Axie Infinity experiences. Apart from a new game, the announcement also highlighted that CyberKongz’s Play & Kollect game — a Polygon-based blockchain game that integrates soulbound tokens and allows players to collect NFTs from

MKR looks primed to continue the rally given its recent buyback mechanism and two other key metrics that impact Maker’s price. Maker has gained 53.5% over the past month, and the cryptocurrency witnessed a remarkable 28.1% surge between July 15 and July 22, achieving its highest daily close in nearly a year. While the gains are impressive, the real question is: Can the cryptocurrency sustain its current trajectory, or were short-term factors behind the price pump? Average Maker (MKR) price at Coinbase, Binance and Bybit. Source: TradingView MakerDAO, the decentralized autonomous organization (DAO) responsible for the Dai (DAI) stablecoin and the governance token Maker (MKR), unveiled a five-phase roadmap in mid-May. Dubbed “Endgame," the upgrade plan includes a new blockchain, a rebrand and the introduction of two tokens featuring updated functionalities. Rune Christensen, co-founder of MarkerDAO, revealed that the primary component of “Endgame” entails developing incentive prog

The weekend was quite monotonous in terms of price action in the crypto market. With Bitcoin horizontally trading below $30,000, most other asset prices have also remained stagnated. Shiba Inu was not an exception to the ongoing trend. With a negligible movement of 0.5% over the past day, SHIB was seen exchanging hands around $0.000007835 during the Asian trading hours on Monday, July 24. Despite the humdrum price landscape, the Shiba Inu on-chain ecosystem has been quite lively. In this article, we will be delving into the same. Also Read: Shiba Inu to 50 Cents? Here’s What Must Happen For SHIB To Reach $0.50 Shiba Inu holders show resilience Shiba Inu’s new adoption rate has been on the rise lately. Owing to its latest rallies, this metric is well above 58%. In fact, at press time, it was at its highest level since 2020. This means newcomers are in-lead and are actively participating in the market now. Source: IntoTheBlock Also Read: Societe Generale Becomes 1st Company

The central bank reportedly emphasized that the addition of NFC technology will play a crucial role in boosting the adoption rates for the CBDC. Despite the former governor’s ousting nearly two months ago, the Central Bank of Nigeria (CBN) continues to be committed to its central bank digital currency (CBDC) project, showing no indications of abandoning it. According to a report by local news outlet The Sun, the central bank recently enhanced the CBDC mobile app by incorporating Near Field Communication (NFC) technology. This upgrade enables mobile devices and payment terminals to interact when in close proximity, facilitating convenient and contactless eNaira payments . Despite previous versions incorporating QR codes, the CBN reportedly emphasizes that the latest addition of NFC technology will play a crucial role in boosting the adoption rates for the CBDC. Joseph Angaye, the deputy director of the CBN’s risk management department, reportedly revealed that the banking regulato

Potential Settlement in View Heather and her husband have been embroiled in a Crypto Theft case in which both were accused of being extensively involved in laundering up to $4.5 billion in Bitcoin. According to a Bloomberg report, citing people familiar with the matter, the couple duo are scheduled to appear for a plea hearing on August 3.  advertisement This schedule comes after a year since both couples were charged in what is regarded as one of the highest-profile fraud cases in the industry today. Per the report, the couple had been requested by US District Judge Colleen Kollar-Kotelly to provide a copy of the plea agreement by July 27 even though the exact details of the plea remain unknown. Heather and Ilya were indicted as being a co-conspirator in the 119,754 units of Bitcoin stolen after the 2016 hack of the cryptocurrency exchange Bitfinex. The couple was accused of opening multiple accounts to siphon the funds through multiple exchanges and darknet