A good way to keep an eye on the cryptosphere while enjoying the weekend.
This selection presents the five articles considered most significant in the last week. This is to be able to stay informed of important innovations and advances in the field. With, at the end of this selection, a complete technical analysis of the price of Bitcoin and other emblematic cryptocurrencies in terms of this week’s news.
Bitcoin Mining Giant Core Scientific Files for Bankruptcy
In the list of bankruptcies that affect the cryptocurrency sector, here comes the turn of the publicly traded bitcoin mining companies. These giants of the sector are those for which no one addresses the possible problem of centralization, either of computing power (hashrate) or of the requirements of their shareholders. One of its most important players, Scientific Core, is already on the verge of bankruptcy since the end of October. Moreover, this Wednesday morning, there was an official declaration of bankruptcy, with the Texas court in charge of this type of case.
Little Sam Returned to His Parents Against a $250 Million “Appearance” Bail
The FTX issue continues. The latest twist is the release on bail of the main character, Sam Bankman-Fried who, after having conspicuously benefited according to Bloomberg, from preferential treatment during his short stay in the sinister Bahamian prison, only rubbing shoulders with the walls of the infirmary, he will be able to find the soft warmth of the parental home under the Californian sun.
Binance vs FUD
Binance has been in the spotlight since the FTX crash. In fact, this leading platform in the cryptocurrency sector has to deal with a huge FUD campaign against it. A widespread doubt that spares no area in relation to your activities or the actual amount of your assets. Because your Test of Reserves exercise did not convince anyone, quite the contrary. That’s why he just published “对于近期媒体及社区质疑的回应”… only available in Chinese.
Ban on Cryptocurrencies Before They Trigger the Next Financial Crisis
The treatment reserved for cryptocurrencies is not a long calm river, especially considering that regulatory attempts are often made in opposition to the development of this sector. The Central Banks are currently much more focused on defending their business based on the monetary monopoly than on “protecting investors”. The governor of their version of India predicts that the next financial crisis will arise from the absence of a ban issued against cryptos.
NFT vs Artists: between Speculation and Copyright
The NFT market has really come to light in the last two years; it is explosive in appearance, and very quickly qualified as a speculative bubble by its detractors. The features associated with a Web3 approach, however, allowed artists and creators to take advantage of the hype for their collections. This is definitely a different model from the world of traditional art, based on commissions applied to the secondary market. Obviously, this feature is not suitable for speculators.
By Audy Castaneda
