Home
News
- Bankman-Fried Bought Binance’s Stake in FTX.
- EDXM Ends Support for Bitcoin Cash.
- Cosmos Brings IBC to Avalanche
- Bitcoin Spark To Democratize Mining.
The crypto industry has followed the Sam Bankman-Fried trial closely in a bid to understand what went wrong with FTX. While the prosecution has provided an update on SBF’s purchase, EDXM has ended support for Bitcoin Cash. Meanwhile, Cosmos has brought IBC to Avalanche and Bitcoin Spark is about to democratize mining.
Visit the Bitcoin Spark ICO For A Second Chance At Joining Bitcoin Early
Bankman-Fried “Doubled Down” When He Bought Binance’s FTX Shares
Federal prosecutors have claimed that Sam Bankman-Fried “doubled down” and used customers’ funds to purchase Binance’s $2 Billion stake in FTX in 2021. Prosecutors also went through other purchases Bankman-Fried made using customer funds.
They highlighted millions of dollars in political donations, luxury real estate, and venture capital investments. Bankman-Fried is faced with seven fraud counts and conspiracy to commit fraud. If found guilty, he could spend up to 115 years in prison. Closing arguments for the case began on November 1 before the final verdict was rendered.
EDXM Has Ended Support for Bitcoin Cash
The price of Bitcoin Cash (BCH) enjoyed a price outbreak in June. The project also recorded an increased adoption of BCH. However, the adoption of Bitcoin Cash has taken a hit as EDX Markets has confirmed plans to delist BCH from its platform.
The Bitcoin Cash price hasn’t performed much better in the market. BCH has failed to break above the $250 resistance despite the bullish crypto market. Analysts have predicted that if the Bitcoin Cash price crosses this psychological barrier, it could aim for its 2023 high above $305.
Cosmos Brings IBC To the Avalanche Network
Unlike Bitcoin Cash, the Cosmos crypto continues to see an increase in adoption. It was recently reported that the Cosmos IBC (Inter-Blockchain Communication) protocol has been launched on the Avalanche network.
The launch has made over 100 networks based on the Cosmos SDK available on Avalanche. The Cosmos coin price reacted with a 5% price increase on the daily chart. If the price of Cosmos breaks above the $8 barrier, it could rally to $10 in the coming days.
Bitcoin Spark To Democratize Mining
Like Cosmos, Bitcoin Spark has been in the news for its growing adoption. Bitcoin Spark has created a unique consensus mechanism to solve the problem of high mining costs. The network has created Proof-of-Process(PoP)– a blend of Proof-of-Stake(PoS) and Proof-of-Work(PoW).
However, PoP is significantly more energy-efficient than both networks. As a result, Bitcoin Spark network users have been allowed to mine BTCS tokens with only their smart devices and stable, high-speed internet connection.
Bitcoin Spark created this model as a means to make mining more accessible, thus democratizing the process. Now, every network user can participate in the process of securing the Bitcoin Spark network. Bitcoin Spark was also forked from Bitcoin, making it remarkably secure and privacy-focused.
Bitcoin Spark has entered the ninth stage of its presale, where BTCS trades at $3.50 per token. Based on its potential, crypto analysts have predicted a rally to $50 for Bitcoin Spark in the next crypto market rally. This makes BTC one of the best crypto to buy now.
More about the Bitcoin Spark ICO below:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
Disclaimer: Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.
For publishing articles on our website get in touch with us over email or one of the accounts mentioned below.
