Tuesday, September 19, 2023
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Today in Crypto: Ethereum PoS Switch Date Set

Cryptographic hedge fund Defiance Capital was reportedly “significantly affected” and prejudiced by the liquidation of rival fund Three Arrows Capital. Post Twitter Friday (July 15th).

DeFiance CEO Arthur Cheong said the financial statements and status of Three Arrows were “invisible,” and Cheong said he knew the problem only when the news was reported last month.

“Arthur Cheong is committed to taking all necessary steps to protect, preserve and restore all assets owned in the context of DC’s business,” the company said.

In other news, the crypto market has been on the rise lately, with CoinDesk leading decentralized finance (DeFi) coins at double-digit growth rates. I have written Friday.

The report states that DeFi recovery is not certain for the long-term future, and fundamentals are still not very strong.

“Sure, we’ve seen some recovery in DeFi coins so far, but basically nothing has changed. According to the report, the locked totals have been destroyed,” crypto finance said. Amber Group, a service company, said.

Meanwhile, the formerly unknown debtor of the Celsius Network has been revealed to be Equities First, a professional financial company known for lending cash to executives holding shares.

As the Financial Times I got itThe money owned by EquitiesFirst makes up the majority of Celsius’ assets, which is part of the way customers are trying to reclaim some of their savings.

In other Celsius news, customers of embarrassed companies still have a way to go in terms of seeing if their money will come back, Reuters. I have written Friday.

Customers are now making a rough move on it, as several lawyers have been waiting for Reuters to clarify what’s happening with their money since Celsius frozen the withdrawal last month. He said he should expect it.

In addition, the Ethereum Foundation’s Tim Beiko Said The merge, or transition to the new Ethereum design, may take place in the week of September 19th.

This will change Ethereum from the old energy-intensive proof-of-work (PoW) consensus mechanism to a more efficient proof-of-stake (PoS) system that reduces energy usage by more than 99%.

In other news, Bloomberg report On Saturday (July 16th), Sweden’s Minister for Energy Khashayar Farmanbar said the country could soon become unfriendly to Bitcoin mining.

This is because the country is considering whether to power things like steel mills that have the potential to create jobs, or to put more energy into Bitcoin mining. Fermanber recently said the country needs energy for “more useful than Bitcoin.”

In addition, the strategy of holding Bitcoin overnight may not hold water once you win.

The strategy included buying Bitcoin at the time of closing and selling it at the next open.This usually gets a big return, Bloomberg I have written Sunday. Instead, the opposite is working — people who buy open and sell closed in the US market are doing great.

Finally, the Central Bank of Sri Lanka (CBSL) issued a warning about cryptocurrencies. News..

According to the notice, CBSL does not approve initial coin offerings, mining operations, or cryptocurrency exchanges. The CBSL also said that no electronic card of any kind can be used for cryptocurrency transactions.

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