Author: Afroz Ahmad

Is it all over for Hodlnaut? The crypto lender is apparently reaching the end of the road as the High Court of Singapore ended judicial management and ordered its liquidation. Quick Take: Hodlnaut goes into liquidation as judicial managers file a winding-up order. Creditors disapproved of the platform’s restructuring plan, urging liquidation. Hodlnaut’s exposure to Terra and FTX caused financially unsustainable damages. Hodlnaut has failed its restructuring plan as judiciary managers Aaron Loh Cheng Lee and Ee Meng Yen Angela look set to liquidate the platform. As per the document submitted by them, the judicial managers filed a winding-up order…

The founder and CEO of Roblox, David Baszucki is dreaming of achieving in-game moving non-fungible tokens (NFTs) and digital objects. He also expects celebrities and prominent brands to help him achieve the goal. Quick Take: Roblox CEO David Baszucki aims to see interoperable NFTs and digital objects. Baszucki wants to see top celebrities and brands involved in NFTs and digital collectibles. Roblox continues to grow in the number of active users. The CEO of the renowned virtual universe game Roblox wants NFTs to move across multiple platforms. He shared his views in an interview after the Q3 2023 earnings call…

Crypto analysts and experts have recently commented that there is an eight-day window between November 9 and November 17 for the approval of all spot Bitcoin ETF filings by the Securities and Exchange Commission (SEC). Quick Take: A brief window for spot Bitcoin ETF approval starts on November 9, 2023. The SEC could approve a bunch of filings at once to eliminate the first-mover advantage. Analysts believe there is a 90% chance of approval before January 10, next year. Crypto analysts James Seyffart and Eric Balchunas have commented that there is a brief window for the approval of all 12…

The BRC-20 token, Ordinals (ORDI) has seen a significant surge in its price following the announcement of listing on the Binance exchange. The exchange listed ORDI pairs with USDT, BTC, and the Turkish Lira. Quick Take: Binance lists Ordinals (ORDI), giving incentives to the first 1,000 users depositing 72 ORDI tokens. The ORDI token reaches a high of over $14 before settling around the $13.40 mark. Users confuse ORDI with Bitcoin Ordinals, which reached its highest mark since May. Every emerging token gets a major boost if it is listed on a renowned cryptocurrency exchange, such as Binance. The same…

Moody’s Analytics has come up with a new stablecoin service that will make use of AI to predict any possible stablecoin depegs. The tool will use machine learning and other indicators to review stablecoins and make a prediction about their short-term future performance. Quick Take: Moody’s DAM tool will analyze and predict the performance of stablecoins. The report shows that the stablecoin market is plagued with hundreds of depegs every year. The Analytical tool will review the performance of 25 fiat-backed stablecoins. As per the report released by Moody’s Analytics, the AI tool will be able to make predictions in…

OpenSea is one of the most prominent NFT marketplaces in the crypto and web3 landscape. However, in a rather surprising move, the platform has announced that it is laying off half of its employees. Quick Take: OpenSea, a pioneer NFT marketplace, reduced its employee count by 50%. The platform will launch version 2.0 with a smaller team, eliminating middle managers. Employees will be given a 4-month severance package and 6-month healthcare packages. OpenSea looks to innovate to regain its leading position in the NFT world. The news of reducing the employee headcount by 50% was confirmed by the co-founder and…

The governing body of the AragonOS DAO-creation will now close its operations. The tool will transfer a major chunk of its assets to the token holders of the Aragon platform. Quick Take: Aragon Association dissolves and plans to distribute tokens among users. The platform will exchange 1 ANT token for 0.0025376 ETH. AA was plagued with several complications, including legal barriers and failed attempts to modify governance. As per the official blog post, the team behind one of the oldest projects in the crypto space has opted for a reset. The Aragon Association will distribute a total of 86,343 ETH…

The leading cryptocurrency exchange in the United States, Coinbase has come up with new trading features for retail traders. This move will enable small-scale retail traders to trade in crypto futures. Quick Take: Coinbase offers crypto futures to US-based retail traders. The exchange will offer nano-sized Bitcoin and Ethereum futures to its customers. With increased crypto derivatives offerings, the trading platform looks to increase its consumer base. As per the announcement of the exchange, the company is now allowing eligible US traders to access crypto futures through Coinbase Financial Markets. This move comes four months after CFM was granted permission…

Core Scientific was a big name in the Bitcoin mining industry until it filed for Chapter 11 bankruptcy in December last year. However, the company is aiming to emerge from bankruptcy by the end of 2023 after successfully following its reorganization plan. Quick Take: Core Scientific has received a go-ahead for its reorganization plan after three amendments. The firm eyes a comeback at the end of this year and looks to deal with the challenges. Bitcoin mining companies continue to mark profits this year. The Bitcoin mining company has recently announced an agreement in principle to move forward with its…

The popular altcoin, Cardano (ADA) has shown signs of positive trends in the third quarter of the year. As per a recent report from crypto analytics firm, Messari, Cardano has posted commendable figures in this quarter. Quick Take: The Cardano network gains momentum with the launch of native stablecoins. The network’s DeFi TVL and active addresses see a massive increase in figure. ADA crossed the $0.3 mark and looks to approach $0.4 soon. Cardani’s ecosystem updates and events continue to boost the network’s performance and confidence. The report suggests that the stablecoin of the platform saw an increase of 16%…