Der Softwarehersteller besitzt durch die zusätzlichen Investitionen nun insgesamt 129.699 BTC.
Major advocate of Bitcoin Cash accused of default: BCH price sinks 7%
Bitcoin Cash (BCH) today dropped to a low of $102.08 following reports that a major advocate of the blockchain had been accused of default.
Roger Ver, the former CEO of Bitcoin.com and a big advocate for Bitcoin Cash, was on Wednesday accused of owing $47 million to crypto exchange CoinFlex.
Coinflex CEO Mark Lamb disclosed a written agreement between the exchange and Roger Ver that obligates the Ver to guarantee any negative equity.
Roger Ver owes CoinFLEX $47 Million USDC. We have a written contract with him obligating him to personally guarantee any negative equity on his CoinFLEX account and top up margin regularly. He has been in default of this agreement and we have served a notice of default.
— Mark Lamb 💪 (@MarkDavidLamb) June 28, 2022
Lamb indicated that they have already written notice of default to Roger Ver for defaulting on the agreement.
In a subsequent tweet thread, Lamb went ahead to clarify that the debt in question pertains to Ver’s account.
He is denying that the debt pertains to him and so we felt the need to clarify to the public that yes – the debt is 100% related to his account. Roger Ver a citizen of the European Union who we believe has significant assets in the US, UK and other relevant jurisdictions
— Mark Lamb 💪 (@MarkDavidLamb) June 28, 2022
But in a rejoinder, Roger Vertook to Twitter to deny Lamb’s claims of owing any debt and rather accused CoinFlex of owing him a substantial amount of money and revealed that he was seeking the return of his funds.
Roger Ver’s relations with Bitcoin Cash
Roger Ver has been the biggest promoter of Bitcoin Cash since it hard forked from Bitcoin.
The main reason Ver supports Bitcoin Cash is that he believes that Bitcoin should be a peer-to-peer transaction system instead of just being a store of value like it currently is.
The position or trade-in question is a leveraged 600-800K BCH long that Roger Ver holds on CoinFlex exchange.
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Here’s why Terra Luna Classic (LUNC) and USTC are suddenly rising
Terra Luna Classic (LUNC) has gained 44% today and over 110% over the past seven days while TerraClassicUSD (USTC) has gained over 140% today and over 780% in the past seven days.
Both TerraClassic (LUNC) and TerraClassicUSD (USTC) had almost been forgotten by the greater crypto community over the past two months following the unfortunate Terra (LUNA) debacle that started with the de-pegging of the TerraUSD (USDT) stablecoin.
But the recent price hikes have brought the two cryptocurrencies back to the limelight.
📈🤷 #TerraClassic and #TerraClassicUSD have been all but abandoned by the #crypto community over the past 2-4 months. However, $LUNC’s +107% and $USTC’s +320% respective rises in the past 55 hours are something that may merit increased attention soon. 🤔 https://t.co/ddhyKjE9tz pic.twitter.com/oFnZ0JjaNJ
— Santiment (@santimentfeed) June 29, 2022
According to CoinMarketCap, the number of LUNC holders has started to increase with the rising price and the same case applies to the USTC stablecoin holders. Between June 26 and today, the number of LUNC holders rose by about1.41%.
Why is USTC and LUNC price rallying?
One of the main contributors to the sudden rise of LUNC price and consequently that of the USTC stablecoin is the recent announcement by a metaverse venture called StarShip that it shall incorporate LUNC into its ecosystem. LUNC will be one of the payment methods in StarShip.
In addition, StarShip will also burn 1.2% of the total amount of LUNC that it will receive as payment.
A press release by StarShip read:
“LUNC will be implemented into the StarShip ecosystem as one form of payment within StarShip Universe, burning 1.2% of all LUNC received for these payments.”
StarShip is one of the biggest metaverses to be created and it recently released footage showcasing its gameplay. The MetaUniverse features 32,000 square kilometers of buildable area and is powered by the new Unreal 5 engine.
The crypto community welcomes the practical use case for LUNC and the partnership between StarShip and Luna reinforces each ecosystem.
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Russische Duma verabschiedet Gesetzesvorschlag: Steuervergünstigungen für digitale Vermögenswerte
Russland wendet sich zunehmend der Blockchain-Technologie zu, um die wirtschaftliche Isolation zu lösen, die die Sanktionen des Westens mit sich gebracht haben.
Court orders Three Arrows Capital to be liquidated
A court in the British Virgin Islands has directed that the embattled crypto hedge fund Three Arrows Capital (3AC) to be liquidated. The liquidation order comes a few days after Voyager Digital issued a notice of default to the hedge fund firm.
The Singaporean crypto hedge fund has been going through a hard time in the past few weeks following the crisis gripping the cryptocurrency sector. Its woes started with the fall of Terra LUNA, which seemingly started a ripple effect that is still being felt throughout the crypto space.
According to reports, several partners including Teneo in the British Virgin Islands are lining up to handle the insolvency of the crypto hedge fund which has been in operation for the last 10 years since its launch in 2012 by Su Zhu and Kyle Davies.
What does 3AC liquidation mean to the crypto market?
Crypto insiders opine that the liquidation will have a significant impact on the cryptocurrency sector which is already undergoing difficulties due to plummeting market prices which has also caused the market to become extremely volatile.
Although it is still unclear what the immediate financial implications will be, 3AC’s demise is likely to rise more questions about the future of digital assets. And the 3AC creditors will certainly be the first to feel the pinch.
It would be noted that the default notice issued to the 2AC by Voyager Digital was in relation to a loan worth hundreds of millions of dollars.
In an interview with the Wall Street Journal earlier this month, the Three Arrows Capital co-founder Kyle Davies said:
“We are committed to working things out and finding an equitable solution for all our constituents”.
Davies had also said that the hedge fund was looking at alternative ways of rescuing the firm including the sale of assets or being rescued by another firm.
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