The biggest news in the Cryptoverse on December 15th includes BlockFi, Viltalik, XRP, Green Ridge, Ukraine War and more.
CryptoSlate Top Stories
BlockFi Confirms Move to Allow BlockFi Wallet Users to Access Funds
BlockFi released a statement on December 20th confirming the motion filed in relation to BlockFi wallet users accessing their funds.
The company is best known for its yield service, BlockFi Interest Accounts. However, the core product within the BlockFi ecosystem was the custodial crypto wallet. Wallet was not eligible for lending service. BlockFi therefore asserted, “It is our belief that the client clearly owns these assets.”
Hearing dates are set for January 9th for US customers and January 13th for international customers.
For more information, Blockphi’s blog.
Greenidge signs $74 million debt restructuring deal amid bankruptcy fears
Bitcoin (BTC) miner Greenidge Generation has entered into a $74 million debt restructuring agreement with cryptocurrency lender NYDIG, according to the SEC on Dec. 20. filing.
The restructuring, which is expected to improve Greenwich’s future liquidity and balance sheet, is based on a non-binding term sheet signed on 19 December.
Transfer credits and coupons accrued to Greenidge under a non-fixed price purchase agreement with Bitmain Technologies in exchange for a significant number of miners.
The filing also noted that Greenwich’s board of directors was also considering filing for personal bankruptcy.
Greenidge’s stock fell 99.21%. It is currently trading at $0.31 after dropping about 15% on December 20th.
McCormack Trial Judge – Craig Wright Is ‘Unfaithful’, Implying McCormack Wins
The final trial between computer scientist Craig Steven Wright (CSW) and crypto podcaster Peter McCormack took place in London on December 20th, marking a possible victory for McCormack.
The judge’s final decision is said to be announced on December 21st. However, the judge said CSW had been unfaithful in his claim to be Satoshi.
According to a report from BitMex Research, which participated in the trial, the judge gave the first opinion that “Since CSW was unfaithful, CSW should pay all costs currently determined.”
Additionally, BitMex Research paraphrased the judge’s statement as follows: I found her CSW dishonest. Therefore it is appropriate. “
Vitalik Buterin Says XRP Is “Totally Centralized,” Ripple CTO Responds
Ethereum (ETH) co-founder Vitalik Buterin said in an interview with Bankless on Dec. 19 that Ripple’s XRP was “still completely centralized.”
According to Buterin, for a project to be part of the crypto space, it has to use cryptography and have “some kind of chain data structure somewhere.”
He added that XRP has not apologized for writing to the U.S. government that Bitcoin (BTC) and Ethereum are assets under Chinese control.
“XRP has not apologized for claiming that Bitcoin and Ethereum are under Chinese control.”
According to available information, Ripple only controls 4 of the over 130 validators running XRPL.
Critics also tend to point out that Ripple owns most of the XRP token.However, a recent report that said The company’s XRP holdings have fallen to less than 50% of total supply. The company added that each validator on the network “will get one vote regardless of how much XRP he owns.”
Study: Russian Invasion of Ukraine Leads to Highest Selling of Bitcoin in Two Years
The past two years have been very eventful for the crypto space. The industry has witnessed astronomical adoption of cryptocurrencies, with Bitcoin (BTC) trading above his all-time high of $69,000.
However, despite this impressive growth, the industry has witnessed some adverse events that have shaken investor confidence.
Long-term holders who sold in 2021 sold for profit, while those who sold in 2022 sold for fear.
Biggest Gainers (24 hours)
- Risk (LSK) +24.85%
- Luxo (LYXe) +22.51%
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Biggest Loser (24h)
- Voyager Token (VGX) -9.73%
- Chains (XCN) -6.64%
- BinaryX (BNX) -5.06%