47% of Bitcoin holders remain in profit despite BTC’s 60% price drop in 2022
A significant share of Bitcoin (BTC) investors have recorded losses as the flagship cryptocurrency’s price continues to correct further below the crucial ;20,000 level. However, despite some investors nursing the pain of the ongoing crash, data indicates that a big share of holders are still in profit. September 7, 47% of Bitcoin holders remain in profit at the current price while the majority at 52% are in a loss. The number of holders in profit can be considered significant, considering Bitcoin has corrected by about 59.95% in 2022. At the same time, Bitcoin is trading almost 70% from all-time high value of almost ;68,000 in late 2021.
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A significant share of Bitcoin (BTC) investors have recorded losses as the flagship cryptocurrency’s price continues to correct further below the crucial ;20,000 level. However, despite some investors nursing the pain of the ongoing crash, data indicates that a big share of holders are still in profit. September 7, 47% of Bitcoin holders remain in profit at the current price while the majority at 52% are in a loss. The number of holders in profit can be considered significant, considering Bitcoin has corrected by about 59.95% in 2022. At the same time, Bitcoin is trading almost 70% from all-time high value of almost ;68,000 in late 2021.
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Core Scientific Sold Over 1,100 BTC in August for ;26 Million
US crypto miner Core Scientific produced 1,334 BTC in August and sold 1,125 BTC of that amount for around ;26 million. The Texas-based cryptocurrency mining firm – Core Scientific – produced 1,334 BTC in August and sold 1,125 BTC of that stash for approximately ;25.9 million. In June this year, when the crypto market and bitcoin particularly dipped to record lows in years, Core Scientific parted with over 7,000 BTC for around ;167 million. Production was also on a high level. Last month, Core Scientific mined 1,334 BTC thanks to the deployment of approximately 17,000 new servers. Additional 43,000 self-mining ASIC servers are expected to reinforce the company’s operations before the end of 2022.
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US crypto miner Core Scientific produced 1,334 BTC in August and sold 1,125 BTC of that amount for around ;26 million. The Texas-based cryptocurrency mining firm – Core Scientific – produced 1,334 BTC in August and sold 1,125 BTC of that stash for approximately ;25.9 million. In June this year, when the crypto market and bitcoin particularly dipped to record lows in years, Core Scientific parted with over 7,000 BTC for around ;167 million. Production was also on a high level. Last month, Core Scientific mined 1,334 BTC thanks to the deployment of approximately 17,000 new servers. Additional 43,000 self-mining ASIC servers are expected to reinforce the company’s operations before the end of 2022.
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Law Firms Request Disqualification of Roche Freedman From Tether-Bitfinex Case
Roche Freedman’s troubles do not appear to be dying out anytime soon. After one of its Founding Partner – Kyle Roche – made some astonishing claims in an inebriated state, two other law firms – Kirby McInerney LLP (Kirby) and Radice Law Firm, P.C. (Radice) – submitted a document this week to the court to remove the company as interim co-lead from the Tether and Bitfinex Crypto Asset Litigation. Kirby and Radice are also representing three plaintiffs in the case that alleged stablecoin issuer – Tether – and cryptocurrency exchange – Bitfinex – manipulated the market by issuing unbacked USDT.
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Roche Freedman’s troubles do not appear to be dying out anytime soon. After one of its Founding Partner – Kyle Roche – made some astonishing claims in an inebriated state, two other law firms – Kirby McInerney LLP (Kirby) and Radice Law Firm, P.C. (Radice) – submitted a document this week to the court to remove the company as interim co-lead from the Tether and Bitfinex Crypto Asset Litigation. Kirby and Radice are also representing three plaintiffs in the case that alleged stablecoin issuer – Tether – and cryptocurrency exchange – Bitfinex – manipulated the market by issuing unbacked USDT.
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Ripple adviser teases ’more CBDC announcements in the next few weeks’
Ripple may soon unveil positive developments in its central bank digital currency (CBDC) projects, following hints from Ripple CBDC adviser Antony Welfare of more announcements to come. Crypto influencer Sentosumosaba shared on Twitter on Tuesday that Ripple was in the midst of several CBDC pilot programs, including one in Bhutan and the other in Palau. Ripple’s senior adviser Welfare, who handles CBDC Europe and global partnerships, responded on the same thread, teasing there could be “more CBDC announcements” in the “next few weeks.”.
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Ripple may soon unveil positive developments in its central bank digital currency (CBDC) projects, following hints from Ripple CBDC adviser Antony Welfare of more announcements to come. Crypto influencer Sentosumosaba shared on Twitter on Tuesday that Ripple was in the midst of several CBDC pilot programs, including one in Bhutan and the other in Palau. Ripple’s senior adviser Welfare, who handles CBDC Europe and global partnerships, responded on the same thread, teasing there could be “more CBDC announcements” in the “next few weeks.”.
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Ethereum Soars Above ;1.6K Leaving Over ;100 Million Liquidated in a Day
Over ;100 million ETH leveraged positions were liquidated in the past 24 hours as the cryptocurrency stages a recovery. It’s been a wild ride on Ethereum markets over the past 24 hours as the cryptocurrency went through considerable volatility. This caused a wave of liquidations across leveraged ETH positions. Data from Coinglass reveals that the past 24 hours saw almost ;200 million in total liquidations.
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Over ;100 million ETH leveraged positions were liquidated in the past 24 hours as the cryptocurrency stages a recovery. It’s been a wild ride on Ethereum markets over the past 24 hours as the cryptocurrency went through considerable volatility. This caused a wave of liquidations across leveraged ETH positions. Data from Coinglass reveals that the past 24 hours saw almost ;200 million in total liquidations.
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Celsius borrowers oppose US Trustee’s move to appoint internal examiner
McCarter ; English, a law firm representing four Celsius borrowers, has filed a motion asking for the appointment of a chapter 11 Trustee instead of an internal examiner from the U.S. Trustee’s office. The U.S. Trustee’s office had on Aug. 18 petitioned the court overseeing the bankruptcy process to appoint an independent examiner. A chapter 11 Trustee is appointed by the court to work on behalf of the creditors in investigating the debtor’s financial documents and managing its business until the bankruptcy process is completed. The borrowers argued that appointing a Chapter 11 Trustee would be in the best interest of all creditors and other stakeholders.
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McCarter ; English, a law firm representing four Celsius borrowers, has filed a motion asking for the appointment of a chapter 11 Trustee instead of an internal examiner from the U.S. Trustee’s office. The U.S. Trustee’s office had on Aug. 18 petitioned the court overseeing the bankruptcy process to appoint an independent examiner. A chapter 11 Trustee is appointed by the court to work on behalf of the creditors in investigating the debtor’s financial documents and managing its business until the bankruptcy process is completed. The borrowers argued that appointing a Chapter 11 Trustee would be in the best interest of all creditors and other stakeholders.
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German crypto tax policy one of the best in the world
Coincub’s annual tax ranking report shows that Germany offers its residents the best tax policies in the world, while Belgium is one of the worst places to own crypto due to its high taxation. The Coincub annual report ranks countries using a scoring system obtained. A few countries have adopted a low tax rate to retain their domestic population. Germany, Italy, Switzerland, Singapore, and Slovenia made Coincub’s list of the top five countries with friendly crypto tax policies. Germany topped the list with more-friendly tax policies for residents. Residents are not required to pay capital gains tax on assets held for over a year. As a result, more residents incline to save their investments in traditional savings accounts instead of spending outrightly. Gemini’s friendly tax policy has helped the country remain on the frontline of crypto adoption.
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Coincub’s annual tax ranking report shows that Germany offers its residents the best tax policies in the world, while Belgium is one of the worst places to own crypto due to its high taxation. The Coincub annual report ranks countries using a scoring system obtained. A few countries have adopted a low tax rate to retain their domestic population. Germany, Italy, Switzerland, Singapore, and Slovenia made Coincub’s list of the top five countries with friendly crypto tax policies. Germany topped the list with more-friendly tax policies for residents. Residents are not required to pay capital gains tax on assets held for over a year. As a result, more residents incline to save their investments in traditional savings accounts instead of spending outrightly. Gemini’s friendly tax policy has helped the country remain on the frontline of crypto adoption.
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Bitcoin Needs to Adopt an Upgrade Similar to Caradano’s to Survive: Charles Hoskinson
Charles Hoskinson believes that Bitcoin’s switch to a new protocol is necessary for its survival. The White House’s latest report mentions the excessive usage of energy by several industries, including cryptocurrency mining, was brought up by IOG CEO Charles Hoskinson. He went on to say that the paper. Cardano protocol, Ofelimous, could help Bitcoin to avoid the regulator’s ire and survive as a cryptocurrency. For the uninitiated, Ofelimous is a proof-of-useful-work (PoUW) protocol, and its main purpose is to minimize the carbon footprint of PoW chains, such as Bitcoin. Given the adoption scale of the digital asset space, Hoskinson believes carbon scoring of crypto mining by authorities across the world is inevitable.
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Charles Hoskinson believes that Bitcoin’s switch to a new protocol is necessary for its survival. The White House’s latest report mentions the excessive usage of energy by several industries, including cryptocurrency mining, was brought up by IOG CEO Charles Hoskinson. He went on to say that the paper. Cardano protocol, Ofelimous, could help Bitcoin to avoid the regulator’s ire and survive as a cryptocurrency. For the uninitiated, Ofelimous is a proof-of-useful-work (PoUW) protocol, and its main purpose is to minimize the carbon footprint of PoW chains, such as Bitcoin. Given the adoption scale of the digital asset space, Hoskinson believes carbon scoring of crypto mining by authorities across the world is inevitable.
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Want to make some profit on bear market and seeking the ideal option?
$TIME is the coin to choose!!!
On January 12, the high potential coin is on the ByVotes on Bybit, and on January 13, Airdrop to Time will be $120,000 💵
All users who voted for TIME are guaranteed to receive a reward.😱
As early as the end of January, the coin will be traded through the most reputable exchanges like Bitget, Huobi and it’s just the beginning.🚀
Subscribe to the channel and stay up to date!
$TIME is the coin to choose!!!
On January 12, the high potential coin is on the ByVotes on Bybit, and on January 13, Airdrop to Time will be $120,000 💵
All users who voted for TIME are guaranteed to receive a reward.😱
As early as the end of January, the coin will be traded through the most reputable exchanges like Bitget, Huobi and it’s just the beginning.🚀
Subscribe to the channel and stay up to date!
Want to make some profit on bear market and seeking the ideal option?
$TIME is the coin to choose!!!
On January 12, the high potential coin is on the ByVotes on Bybit, and on January 13, Airdrop to Time will be $120,000 💵
As early as the end of January, the coin will be traded through the most reputable exchanges like Bitget, Huobi and it’s just the beginning.🚀
Subscribe to the channel and stay up to date!
$TIME is the coin to choose!!!
On January 12, the high potential coin is on the ByVotes on Bybit, and on January 13, Airdrop to Time will be $120,000 💵
As early as the end of January, the coin will be traded through the most reputable exchanges like Bitget, Huobi and it’s just the beginning.🚀
Subscribe to the channel and stay up to date!