The biggest news in the cryptoverse for December 15 includes BlockFi, Viltalik, XRP, Greenridge, the Ukraine war, and more in this CryptoSlate Wrapped Daily.
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BlockFi issued a statement on Dec. 20 confirming a motion filed regarding BlockFi wallet users accessing funds.
The company is best known for its profitable service, BlockFi Interest Accounts; however, a core product within the BlockFi ecosystem was a custodial crypto wallet. The wallet was not subject to loan services; therefore, BlockFi argued that “we believe that customers are the unequivocal owners of these assets.”
The hearing date is set for January 9 for US customers and January 13 for international customers.
More information can be found in the BlockFi Blog.
The restructuring, which is expected to improve Greenidge’s future liquidity and balance sheet, is based on a non-binding term sheet that was signed on December 19.
In exchange for a substantial amount of your miners, transfer credits and coupons that have been accrued to Greenidge under your non-fixed price purchase agreements with Bitmain Technologies.
The filing also noted that Greenidge’s board of directors was also considering a voluntary bankruptcy filing.
Greenidge’s shares have declined by 99.21%. It is currently trading at $0.31 after a nearly 15% drop on December 20.
The judge’s final decision is said to be released on December 21. However, the judge said that CSW had been dishonest with his claims to be Satoshi, which is why McCormack should be responsible for paying the £1 fee decided earlier.
A BitMex Research report that attended the trial indicated that the judge gave an initial opinion that “since CSW was dishonest, CSW should pay the costs that are currently being decided.”
Furthermore, BitMex Research further paraphrased the judge’s statement documenting that, “Peter said that CWS was a fraud. I found out that CSW was rogue. So that’s relevant.”
According to Buterin, for a project to be part of the crypto space, it must use cryptography and have “some kind of data chain structure somewhere.”
He added that XRP has not apologized for writing to the US government that Bitcoin (BTC) and Ethereum were assets controlled by China.
“XRP has not apologized for claiming that Bitcoin and Ethereum are controlled by China.”
The available information also shows that Ripple controls only 4 of the 130+ validators running XRPL.
Critics also tend to point out that Ripple owns the majority of the XRP token. However, his recent report fixed that the firm’s XRP holdings have declined below 50% of its total supply. The firm added that every validator on its network “gets one vote regardless of how much XRP they own.”
Investigation: Russian Invasion Of Ukraine Led To Bitcoin Selloff In Last 2 Years
The past two years have been very eventful for the crypto space. The industry witnessed the astronomical adoption of cryptocurrencies and Bitcoin (BTC) traded to an all-time high of over $69,000.
However, despite this remarkable growth, the industry has witnessed some adverse events that have shaken investor confidence.
Long-term holders who sold in 2021 did so for profit, while those who sold in 2022 did so out of fear.
Biggest winners (24h)
- Ready (LSK) +24.85%
- LUKSO (LYXe) +22.51%
- Secret (SCRT) +13.96%
The biggest losers (24h)
- Voyager Token (VGX) -9.73%
- Chain (XCN) -6.64%
- BinaryX (BNX) -5.06%