FTX Refunds: Customers Angered by $18,000 Bitcoin Price

FTX announces refund plan based on historical Bitcoin price.

According to Reuters' report on Wednesday, crypto exchange FTX has opted not to resume its operations but instead will proceed with asset liquidation to reimburse its customers. However, repayments will be determined based on Bitcoin's value in November 2022, specifically when Bitcoin was trading below $18,000, under US bankruptcy proceedings.

This decision has sparked discontent among many of FTX's customers, who argue that this valuation puts them at a disadvantage. In response to these grievances, US Bankruptcy Judge John Dorsey sided with FTX, emphasizing that US bankruptcy law requires debts to be repaid based on their value at the time of the bankruptcy filing.

Following the announcement of the repayment plan, the price of FTT plunged by approximately 40%. FTT is currently trading below $2, down over 14% in the last 24 hours, according to data from CoinGecko.

MetaStreet is a liquidity scaling protocol designed for NFT credit markets.

MetaStreet v2, also known as "The Automatic Tranche Maker" (ATM), is a permissionless lending protocol tailored for on-chain collateral. The platform organizes pools by automatically segmenting capital according to various risk and rate profiles from depositors. This segmentation translates into fixed-duration loans for borrowers.

Whether you aim to borrow or earn, MetaStreet offers opportunities to do so now.

CoinDesk's CEO has been terminated in the company's most recent restructuring initiative.

As per CoinDesk, Worth, who has been at the helm of crypto media since 2017, has been let go as part of a restructuring led by the new owner of the media, events, and information firm, cryptocurrency exchange Bullish. CoinDesk's new CEO will now be Sara Stratoberdha, previously in charge of business development at Bullish.

Last August, CoinDesk saw a reduction in its editorial staff, with 20 individuals, accounting for 45% of the workforce, being laid off amid news of plans by its parent company, Digital Currency Group, to attract strategic investors.

In late July, The Wall Street Journal reported that the firm was nearing a $125 million deal with a syndicate led by crypto investor Matthew Roszak of Tally Capital. As part of the agreement, Digital Currency Group would retain a stake in the media property, which provides business offerings such as events, data, and indexes.

By the end of November 2023, Bullish had completed its acquisition of CoinDesk. CoinDesk will continue to operate as an independent subsidiary of Bullish, with its current management team remaining in place.

Dwight Howard NFTs: Athletes urged to 'dedicate time' to grasp their functionality.

Tom Fleetham, leading business development for sports and gaming at Zilliqa, observed that many sports organizations he collaborated with needed to enhance the experience and monetization for international fans who couldn't physically attend stadiums. Additionally, he noted that younger audiences, such as Gen Z, exhibited different behaviors compared to previous generations, implying a necessity for a more contemporary approach to engage this market.

Fleetham highlighted the recent NFT misstep of basketball star Dwight Howard as an example. When Howard entered the crypto space, it appeared he was ill-prepared. On January 19, Howard announced an NFT drop on the Avalanche blockchain, but the project failed to gain traction, attracting only a few buyers before being withdrawn for redesign.

Furthermore, the executive, who collaborates with brands seeking to connect with Web3, emphasized the potential of NFTs to deepen the bond between athletes, sports teams, and their fan bases. He noted that sports often evoke passionate emotions from fans, making NFTs a promising avenue to enhance this connection.

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