Search Results for: insists

Napster Expands Into Web3 Music Space With Acquisition of Mint Songs

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On Wednesday, Napster, the music streaming service originally launched in 1999, announced that the company has finalized a deal to acquire the Web3 music startup Mint Songs. Napster’s CEO, Jon Vlassopulos, insists that “we are in an unprecedented era of innovation…

Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital

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On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S. bankruptcy court. The complaint alleges the defendants received preferential transfers of property from Alameda Research and the plaintiffs are seeking to…

Osprey Vies for Control of Grayscale’s Bitcoin Trust; Tron’s Justin Sun Offers to Invest Up to $1B on DCG Assets

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Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion,…

World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’

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On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with…

Uncertainty Surrounds Federal Reserve’s Future Plans for Rate Hikes

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The U.S. Federal Reserve has raised the benchmark bank rate seven times during the course of 2022, leading many to question when the central bank will cease or change course. The Fed has stated that it aims to bring inflation down…

Gemini’s Cameron Winklevoss Insists Digital Currency Group Needs to Resolve Liquidity Issues in Open Letter to CEO Barry Silbert

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Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter,…

Russian IT Firms Lobby for Crypto Payments in Software Exports

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Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting IT exports suggested by an industry organization to the executive power…

Shaky USDT Price Stirs Speculation Tied to Alameda Reserves, Tether Freezes 46 Million Tokens

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Amid the market fluctuations on Thursday, data shows the stablecoin tether temporarily tapped a low of $0.961 per unit. Tether’s market fluctuations have affected the decentralized finance (defi) protocol Curve’s 3pool, as the stablecoin pool has become unbalanced Thursday morning. Furthermore,…

Bank of England Hikes Repo Rate by 75bps — UK’s 30-Year Fixed Mortgage Rate Jumps to 7%

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On Nov. 3, 2022, the Bank of England followed the U.S. Federal Reserve by codifying the eighth consecutive benchmark bank rate hike by 75 basis points (bps). The increase brings the United Kingdom’s main lending rate to 3%, after a majority…

Crypto Firm Freeway Updates Community, Says Trading Strategy ‘Failed’ and ‘Caused a Substantial Loss’

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Four days ago, the crypto rewards platform Freeway.io, formally called Aubit, halted withdrawals on October 23 after citing it was protecting the firm’s portfolio from “market fluctuations and volatility.” Two days later, the team updated the community and explained on Tuesday…