Cryptocurrency

DCG on tight deadline, new Binance acquisition, Silvergate lawsuit, Solana pumps

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The biggest news for the Cryptoverse on Dec 22nd is this CryptoSlate Wrapped Daily, which is dominated by lawsuits, bankruptcies, and takeovers as industry leaders proclaim it on a critical day of a bear market. increase.

CryptoSlate Top Stories

Digital Currency Group Gets January 8 Deadline to Solve Gemini Acquisition Issues

Gemini co-founder Cameron Winklevoss said that Digital Currency Group (DCG) CEO Barry Silbert used dishonest tactics over the $900 million debt the Genesis deal owed to acquire users. accused of going

Opening on January 2nd letter, Winklevoss said Silbert employed stalling tactics and refused to meet with stakeholders to resolve issues surrounding the situation.

The exchange’s co-founders gave Silbert a January 8 deadline to resolve the matter.

Barry Silbert responded That DCG didn’t borrow $1.675 billion from Genesis. He also said DCG has no outstanding debt to Genesis and the subsequent maturity of the loan is May 2023. Silbert added:

“DCG submitted a proposal to Genesis and your advisors on December 29th, but have not received any response.”

However, Winklevoss claims that DCG owes Genesis.Cameron Said Silbert to stop pretending that he and DCG were “innocent bystanders and had nothing to do with the creation of this mess”. If not, I asked how they do.

Binance is reportedly in the final stages of acquiring South Korea-based cryptocurrency exchange Gopax.

Binance has completed due diligence (DD) on the acquisition and is finalizing the process. Eccentricity.

It was originally scheduled to be announced in 2022, but is believed to have been postponed due to talks over equity valuation.

Binance has purchased a stake in Gopax’s largest shareholder, Lee Jun-hang, who owns 41.2% of the company. However, Binance reportedly plans to “maintain this representation system for the time being when stable operations begin.”

However, Binance and Gopax’s entry into the market could also lead to increased competition and market volatility, according to Decenter.

At the time of writing, neither Binance nor Gopax have commented on the acquisition.

Solana entered the New Year at a high, gaining 14% over the past 24 hours.

Analysis of the 15-minute SOL chart reveals no price movement until 07:00 (GMT) on the first business day of 2023.

A massive 20% spike occurred at this point, leading to a peak price of $12. But the next candle he closed at $11.18, giving up about half of those gains.

Pomerantz LLP — a company that specializes in representing the rights of defrauded investors — has filed a class action lawsuit against Silvergate Capital for alleged securities law violations.

This action is filed in the United States District of California Southern District on behalf of all persons and entities that purchased or acquired securities of Silvergate between November 9, 2021 and November 17, 2022 (the “Class Period”). brought to court.

As a result of the alleged conduct, Silvergate’s Class A common stock price declined significantly on two separate occasions during the Class Period.

Shareholders who purchased Silvergate securities during the class action period must ask the court to name them as lead plaintiffs in the class action by February 6.

research highlights

Study: Short-term Bitcoin holders plunge to lowest level at 15% of supply

The Supply Last Active metric looks at the amount of inactive bitcoin over a specific period of time. Analysts speculate that less activity means more BTC is held, reducing selling pressure and acting as a tailwind for bullish price action.

of crypto slate An analysis of Glassnode’s data showed that the percentage of supply held for less than six months had fallen to its lowest level.

Analyzing historical data, we found that young coins typically increase in volume on two key events:

  1. The market becomes bullish as long-term investors spend and invest in the strength of the market.
  2. A surrender sale event where widespread panic puts coins of all ages back into liquid circulation.

Biggest Gainers (24 hours)

  • Credit Coin (CTC) +20.39%
  • Lido DAO Token (LDO) +14.45%
  • Solana (SOL) +13.74%

Biggest Loser (24h)

  • Aragon (ANT) -5.16%
  • Hex (HEX) -4.01%
  • Toncoin (TON) -2.48%

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