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The bankruptcy plan explained that holders of allowed debtor-in-possession claims would receive full and final satisfaction of their claims. Bankrupt Bitcoin (BTC) miner Core Scientific filed its Chapter 11 bankruptcy plan. The plan was filed in the United States Bankruptcy Court for the Southern District of Texas Houston Division. The plan was negotiated with key stakeholders, and according to the filing, the firm is “seeking to build as much consensus as possible” about how a new Core Scientific would look after emerging from its bankruptcy proceedings. The company said it had seen a boost in liquidity since filing for Chapter 11 bankruptcy and is focused on revamping its business plan to make a successful comeback. The company attributed its improved financial performance to higher Bitcoin prices, increased network hash rate and reduced energy costs. A Chapter 11 bankruptcy allows a firm to continue operating until stakeholders agree on a restructuring plan, which could involve me...

Despite negative sentiment toward crypto adoption in the United States, Consensus 2023 attracted thousands of attendees to discuss the potential of blockchain technology and cryptocurrency. Consensus, the annual crypto and blockchain conference, attracted over 15,000 attendees, 220 sponsors and 410 speakers to its 2023 edition in Austin, Texas, despite recent regulatory struggles around cryptocurrency adoption in the United States.  The turnout at Consensus 2023 demonstrated that U.S.-based companies and international organizations are still very much interested in implementing Web3 Technology into their Business models. Caitlin Long, founder and CEO of Custodia Bank — a Wyoming-based digital asset bank — told Cointelegraph that the conference attracted serious ecosystem participants, saying, “We’ve seen during crypto winters before where Consensus gets overrun with high time preference people and companies (for example, multiple Lambo’s parked out front of the New York Hilton in 2018...

To stay recession-proof, build an emergency fund, cut expenses, diversify investments, pay off debt and enhance your skills. A recession is a period of economic decline that can impact individuals and businesses alike. It’s important to take steps to prepare for a recession to help minimize the potential negative impact on your finances. Here are some strategies to consider: Build an emergency fund Building an emergency fund is one of the most critical steps to take to prepare for a recession. One may aim to save at least three to six months’ worth of living expenses in a separate account. This money can be used to cover their basic expenses in case of job loss or other financial hardships. 8 lessons for life: 1. Health over wealth 2. Know when to pivot 4. Become self-sufficient 5. Invest in you education 6. Pick your battles wisely 7. Have an emergency fund 8. Build several income streams — M O R E (@OwnFoundations) March 24, 2023 During a recession, losing a job and strugg...

CBDCs could revolutionize the financial system by increasing efficiency, transparency and financial inclusion while reducing the use of cash. Central bank digital currencies (CBDCs) are digital versions of fiat currencies that are backed and issued by central banks. Here are five ways in which CBDCs could impact the global financial system. Digitalization of payments CBDCs might make payments quicker and more efficient because they would do away with the need for intermediaries. Costs could be brought down as a result, along with financial inclusion and an improved global payments system. CBDCs could also enable cross-border payments to become faster and more efficient, as they would not be subject to the limitations of the traditional financial system. The ease and reduced cost of conducting cross-border commercial transactions could have a big impact on global trade. Additionally, because they would be supported by the central bank and subject to strict security controls, CBDCs coul...

The Ethereum co-founder expects to reach a new milestone for rollups this year. Ethereum co-founder Vitalik Buterin has shared some bullishness for the year ahead, including reaching a new milestone for rollup scaling as per the Ethereum roadmap. The Ethereum developer also confirmed the rollout of the Ethereum Improvement Protocol (EIP) 4884 sometime in 2023, which had been removed as part of the upcoming Shanghai upgrade package set for March. Responding to a Dec. 31 post from former chief Technology officer of Coinbase, Balaji Srinivasan, asking users what they were bullish for in 2023, Buterin said he was looking forward to reaching the “basic rollup scaling” milestone as outlined in the Ethereum roadmap. Reaching the "basic rollup scaling" milestone in my roadmap diagram. That means: * EIP-4844 rolled out * Rollups partially taking off training wheels, at least to "stage 1" as described here https://t.co/qNQonDQkzG pic.twitter.com/7HePctWw1l — vitalik.et...