The controversial statements by the current CEO of FTX, John J. Ray III, about the possibility of reactivating the exchange's operations to settle the debts it owes to its clients and investors have caused the price of FTT to rise in the market. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
FTX, Reactivation or Liquidation?
📍John Ray reported on the creation of a new working group studying the possibility of reactivating FTX operations. The future of the failed cryptocurrency exchange is debated between reactivating its operations or liquidating its assets, Ray said.
The current CEO of the company, who took over after the bankruptcy of FTX and the dismissal of Sam Bankman-Fried, said to The Wall Street Journal that there is a possibility of reactivating FTX operations if this turns out to be the most valuable option for clients. Currently, the company has established a working group that debates the most convenient options for the exchange, while designing a plan to return the funds of users and investors affected by its collapse and, in this way, be able to pay off their debts.
Another viable option, which is on the table according to Ray, is the liquidation of all FTX assets.
Ray's statements have caused controversy in the crypto community, between those who support the reactivation of the platform and those who reject the fraud committed by its former executives.
On the other hand, the statements made by Ray caused the price of the platform's token, FTT, to rise by more than 30% in the last few hours and more than 65% in the last week, according to data from CoinMarketCap. FTT is trading at a current price of $2,27 per token.
Source: CoinMarketCap
1inch designs its own hardware wallet
📍The 1inch Network DeFi project will launch into the hardware wallet market later this year. The developers of the DEX aggregator have announced the creation of a hardware wallet with which they will guarantee the safe custody of crypto assets.
1inch Hardware Wallet is a cutting-edge solution that offers high-level security for cold cryptocurrency storage, 1inch developers reported in a publication recent.
The physical cryptocurrency wallet is currently in development and its launch is estimated for the end of this year. In addition to this, the developers of 1inch Network highlighted that the wallet will allow users to create and control multiple sets of wallets with different seed phrases and that all data will be exchanged using QR codes and the NFC (Near Field Communication) protocol.
My First Bitcoin receives donation from Jack Dorsey
📍Former Twitter CEO Jack Dorsey donated 0,28 BTC to the educational project in El Salvador. My First Bitcoin, an educational project that trained 10.000 children in El Salvador on the principles of Bitcoin in 2022, has received a significant donation from former Twitter CEO and bitcoiner, Jack Dorsey.
My First Bitcoin highlighted that this has been the first large donation received this year and that the resources will be focused on promoting knowledge and training about Bitcoin to encourage the adoption of this cryptocurrency in the country, as a tool for financial freedom.
Europe, MiCA and privacy in the digital euro
📍The European Union has postponed the vote on the MiCA Law until April, while euro zone economic authorities call for privacy for the digital euro. Problems related to the translation of the draft European Union Cryptoasset Markets Law, approved in October last year, into the 24 official languages that make up the political community, have led legislators to delay the vote on it again. until next April.
On Twitter, the European Crypto Initiative, a project focused on driving Europe towards the future of blockchain finance, indicated that the EU has set April as the official date to publish MiCA, so the provisions established by this bill to regulate the cryptocurrency industry, will come into effect from April 2024.
On the other hand, while the date of the official publication of the MiCA Law in the official journal of the EU was being debated, the economy and finance ministers of the political community have been focusing on the key aspects that the digital euro must integrate; Among them, he highlighted the need to guarantee user privacy.
In a document on the progress of the digital euro, the European Union recognized that privacy is a fundamental right of citizens and that this must be integrated into the design of the digital euro to maintain citizens' trust and guarantee the use and adoption of the future digital currency.
However, compliance with laws against illegal activities and sanctions are also mentioned in the document.
Continue reading: Africa has the first national park to operate a Bitcoin mining farm
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