Home Metaverse Cardano social network enters beta; FTC investigates Voyager

Cardano social network enters beta; FTC investigates Voyager

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The biggest news in the Cryptoverse on February 22nd was EMURGO launching a social network for the Cardano community. Meanwhile, the FTC said it was investigating Voyager Digital, disputing the company’s pending deal with Binance.US. Elsewhere, Sam Bankman-Fried was able to hire a technical expert to consult on bail terms.

CryptoSlate Top Stories

EMURGO Launches Cardano Spot Social Network

Blockchain company EMURGO has announced the beta launch of Cardano Spot, a social network for enthusiasts to discuss the ecosystem.

of Managing Director of EMURGO Media Sebastian Ziliacus It says the closed beta will be released at the end of 2022. After that, project development moved into an open beta stage considering community feedback, and the onboarding project was ready.

FTC Disputes Binance.US-Voyager Transactions.uncover investigation of bankrupt company

The US Federal Trade Commission (FTC) said it is investigating bankrupt lender Voyager Digital and its executives, according to court filings dated Feb. 22.

The FTC said it was investigating “certain conduct and practices” that constitute Voyager’s “deceptive and unfair marketing of cryptocurrencies to the public.”

For this reason, regulators are opposing Binance.US’s planned acquisition of Voyager’s assets, arguing that the sale could “obstruct cause for action by government agencies like the FTC.” .

FTC claimed The proposed plan would “free” Voyager and its employees from charges related to possible fraud.

SBF hires technical experts to consult in court after breaching bail conditions – civilian seeks arrest

Sam Bankman-Fried’s attorneys said on February 21 that the defense had agreed to the court’s request to hire an independent technical expert to discuss bail terms and is now searching for a suitable candidate. Court submission.

The move comes after the FTX founder used an encrypted messaging app and a VPN to violate his bail terms in January and February. Prosecutors filed a written complaint on the matter, but the defense argued that her VPN use was harmless.

Binance Burns $2 Billion Idol BUSD on Feb 22nd

binance announced Burn $2 billion worth of idle Binance USD (BUSD) on the BNB chain “later today” at 12:07 UTC on February 22nd.

The same amount of BUSD held as collateral on the Ethereum (ETH) chain will be released after the burn.

BUSD’s market cap fell 15% to a 14-month low at $13.7 billion on February 17th.

Blur reveals an additional 300 million token airdrop for loyal users

Non-fungible token (NFT) marketplace Blur said it will distribute an additional 300 million tokens to loyal users during the second season of its airdrop.

Blur airdropped 300 million tokens to early users on February 14th.

market Said Airdrop “Season 2” inspires user loyalty.

Immutable reportedly laid off 11% of staff after $56 million loss

The Sydney Morning Herald reports that Australian crypto gaming company Immutable will lay off 11% of its workforce on February 22nd.

Immutable CEO James Ferguson said: condemned Decisions about the company’s need to maximize reserves and prioritize critical projects.

Affected workers will receive an average of 10 weeks of severance pay, the ability to retain more company stock, laptops, counseling, coaching and relocation services. The report added that affected U.S. staff will be extended medical care provided by the company.

BIS Chief Says Past Events ‘Doubt’ Stablecoin’s Ability to Act as Money

Agustín Carstens, general manager of the Bank for International Settlements, said last year’s events “raised serious doubts about the ability of stablecoins to function as money.”

February 22 speechthe bank chief argued that it was not the new technology that kept fiat currency, but the “institutional arrangements and social conventions behind it.”

According to Carstens, stablecoins do not enjoy the credibility of sovereign fiat currencies, and the lack of regulatory clarity has had an impact.

Deutsche Bank Completes Trial of Project DAMA Tokenization Platform

Deutsche Bank and Memento Blockchain completion A proof of concept for a tokenization platform called Project DAMA (Digital Asset Management Access) aims to simplify the launch and access of digital funds.

The project will first be tested in Singapore due to its crypto-friendly nature and its status as the world’s leading hub for funds and asset managers. Additionally, the bank said the country is taking a proactive approach to regulating new technology and financial services.

Esports organization RRQ accepts NFT membership for fans in partnership with Zilliqa

Indonesian esports organization Rex Regum Qeon (RRQ) has partnered with Zilliqa to create an NFT membership program for fans, according to a Zilliqa statement.

The organization has delivered impressive results in multiple different games over the last few years and has achieved success in PUBG championships such as PUBG Mobile League, Dunia Games WIB, PUBG Mobile Star and Fighting League.

research highlights

On-chain indicators that could signal a bear market reversal

Realized price is an indicator often used to determine market movements in bear and bull markets. The realized price, defined as the value of all Bitcoins at their purchased price divided by the number of coins in circulation, effectively indicates the cost base of the network.

Dividing the network into cohorts allows us to reflect the total cost base for each major group of Bitcoin owners. Long-term holders (LTH) and short-term holders (STH) are the two main cohorts driving the market. LTH are all addresses that have held BTC for 155 days or more, and STH are addresses that have held BTC for less than 155 days. .

The LTH-STH cost base ratio is the ratio of long-term holders to short-term holders’ realized prices. Given the historically different behavior exhibited by LTH and STH, the ratio of their realized prices can indicate how market dynamics are changing.

For example, we see an upward trend in the LTH-STH cost basis ratio when STH realizes more losses than LTH. This shows short-term holders selling BTC to LTH, indicating an accumulation phase of the LTH-led bear market.

The downward trend in the ratio shows that LTH is consuming coins faster than STH. This shows the distribution stage of a bull market where LTH sells his BTC for profit and STH buys it.

An LTH-STH cost basis ratio greater than 1 indicates that the LTH cost basis is higher than the STH cost basis. This has historically correlated with surrendering late bear markets that turned into bull markets.

crypto market

Bitcoin (BTC) has fallen over the last 24 hours -1.96% Ethereum (ETH) trades at $23,828.98 while falling -1.81% $1,617.79.

Biggest Gainers (24 hours)

  • Floki (Floki): 30.48%
  • RSK Infrastructure Framework (RIF): 25.88%
  • Synaptic (SYN): 20.55%

Biggest Loser (24h)

  • BinaryX (BNX): -43.82%
  • Conflux Network (CFX): -12.18%
  • Flare (FLR): -11.97%

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