July 04, 2023

Through mutual understanding, sincerity and goodwill, and with great wisdom and broad views, the leaders on both sides should jointly initiate new opportunities for peace, stability, cooperation and mutual benefit.

-Chen Shui-bian

2021 Voyager, a crypto platform, filed for bankruptcy in July 2022 due to substantial losses caused by the bear market and the collapse of the Terra blockchain. In the aftermath, the company's creditors requested the return of their assets, but the legal fees kept stacking, leading to a total amount of $16.4 million. Between March and May 2021, the creditors were charged $5.1 million for legal services, adding to the already high costs of the bankruptcy.

Source: cryptonews

Meme coins have become a popular trend in the crypto world, with July 2023 seeing the emergence of three of the hottest meme coins: Floki, BoneShiba Swap, and Hollywood X PEPE ($HXPE). Of these, Hollywood X PEPE has been the most successful, with its unique features such as its celebrity-backed tokens, its ability to be used as a payment method, and its low transaction fees making it a popular choice amongst investors. Despite the potential risks associated with meme coins, they remain a popular choice for investors looking to diversify their portfolios.

Source: crypto-news-flash

China has announced its intention to impose export controls on metals primarily used in the production of semiconductors for artificial intelligence (AI) systems. The Chinese Ministry of Commerce, in collaboration with the General Administration of Customs, released a joint statement on July 3 citing national security concerns as the motive behind these controls. The new regulations will require exporters to obtain a license from the Ministry of Commerce before shipping out any of the restricted metals. The list of restricted metals includes rare earths, tungsten, and molybdenum, all of which are essential components in the production of semiconductors. The move is seen as a way for China to protect its own AI industry and maintain its competitive edge in the global market.

Source: cryptopolitan

Volante Technologies, a cloud payments leader and Ripple partner, has completed a successful pilot test on the US Federal Reserve's instant payments system, FedNow. This system is expected to benefit Ripple and its partners, such as ACI Worldwide, Volante Technologies, and Finastra, who have been working on the system. The FedNow system is expected to provide a more efficient and cost-effective way to send and receive payments, which could potentially benefit Ripple and its partners.

Source: crypto-news-flash

Voyager Digital creditors have been billed $5.1 million in the third and final invoice from their lawyers, bringing the total legal charges to $16.48 million. This is $5.28 million more than the initial budget of $11.2 million, and will be paid by the creditors. This is a significant amount of money, and it is important to note that the creditors will be the ones footing the bill.

Source: coinjournal

The crypto sector has been facing increasing hesitation from venture capitalists due to ongoing controversies, market volatility, and uncertain regulatory conditions. This has led to a decrease in funding as investors look for more secure investment options. According to a recent research from RootData, an established provider of digital asset data, venture capital investments in the crypto sector have dropped by over 50% in the first quarter of 2021 compared to the same period in 2020. This decrease in investment is likely to continue as investors remain cautious in the face of the current market conditions.

Source: bitcoinist

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