Helium Network to Migrate to Solana Blockchain

In an effort to increase both its scalability and its dependability, the communications protocol Helium Network has set the date of March 27 as the target for its transfer to the Solana blockchain and the deployment of Oracles.

The current iteration of the Helium blockchain will be put on hold on March 27, as stated in a blog post that was published on the 17th of February. This transition time will last for twenty-four hours. The operations related to proof-of-coverage and data transmission will not be disrupted in any way. In order to manage the relocation process, a working committee comprised of community volunteers is now being organized. The Helium development team has issued the following statement on the upcoming update: “This upgrade will include all wallets, Hotspots, and Helium Network state. It will be place during a 24-hour transition period beginning at around 1500 UTC / 10:00 AM ET.”

When the chain is stopped, validators won’t produce new blocks, and transactions won’t be synchronized. The company said that following the transfer of all accounts and tokens to the Solana blockchain, a final snapshot of the blockchain will be taken, and Hotspots will be created as nonfungible tokens (NFTs).” Take note that when the transition time is finished, any incentives that were minted as a result of Proof-of-Coverage actions carried out over the previous twenty-four hours may be redeemed for Helium Wallet tokens. Oracles will bring current balances that may be claimed up to date, and Hotspot Owners will have access to the new claim function.”

To participate in the update, token holders of HNT and MOBILE will not be required to perform any more actions on their end. The same holds true for the majority of owners of Hotspots, while owners of big fleets may be able to test certain claim capabilities or design bespoke wallet solutions.

On September 22nd, the community voted in favor of HIP-70 with a higher than eighty percent acceptance rate, which made the relocation to Solana possible. The developers at the time emphasized that one of the advantages of the move would be an increase in the amount of its native currency that would be accessible to subDAO reward pools, an improvement in mining, and more dependable data transmission and ecosystem support.

Also in September of the previous year, Nova Labs, the company that developed Helium, announced that it had reached an agreement with the American telecommunications provider T-Mobile to launch a crypto-powered mobile service that would enable subscribers to earn crypto rewards for sharing data about the quality of coverage and for contributing to the identification of Helium dead-spot locations across the country.


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Former FTX CEO Sam Bankman-Fried to Appear in court remotely

A request has been made by representatives for Voyager Digital’s unsecured creditors to have the former CEO of FTX, Sam Bankman-Fried (SBF), as well as numerous top-level officials from FTX and Alameda Research deliver papers and appear in court remotely for a deposition the next week.

According to a document that was filed on February 18 in the United States Bankruptcy Court for the Southern District of New York, it was indicated that a “Subpoena to Testify at a Deposition in a Bankruptcy Case” had been served on Bankman-Fried.

It was served by the Official Committee for the Unsecured Creditors of Voyager Digital Holdings, which is a defunct cryptocurrency loan exchange. They informed him that he needed to present for the “remote deposition” on February 23.

In addition, it ruled that Bankman-Fried had until February 20 to submit all of the “documents and conversations” that were sought.

This arises as a result of the fact that it was disclosed in a court filing on February 6 that attorneys for Voyager had filed a subpoena on Bankman-Fried in addition to Alameda CEO Caroline Ellison, FTX co-founder Gary Wang, and FTX’s head of product Ramnic Arora.

By the 17th of February, it was mandatory for every single person to provide up the desired information.

In the past, Judge John Dorsey had granted FTX debtors permission, in accordance with the regulations of the bankruptcy court, to issue subpoenas requesting information and documents from former FTX coworkers as well as family members of Bankman-Fried.

It was disclosed on February 16 that Bankman-bail Fried’s could potentially be revoked after Judge Lewis Kaplan stated that there was “probable cause” to believe that he engaged in attempted witness tampering. Judge Kaplan stated that there was “probable cause” to believe that Bankman-Fried attempted to tamper with a witness.

Previous court filings that were submitted on February 3 indicated that Bankman-holding Fried’s company, Emergent Fidelity Technologies, had also applied for protection under the bankruptcy code.


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ShapeShift Responds to Elizabeth Warren

According to a recent statement, the noncustodial cryptocurrency exchange platform ShapeShift refuted Senator Elizabeth Warren’s claims of “illicit financing,” suggesting that she used the platform as a scapegoat to “push” her most recent crypto bill. Senator Warren had accused ShapeShift of “illicit financing.”

The cryptocurrency exchange ShapeShift claimed in a tweet sent out on February 19 that Senator Elizabeth Warren made “mistakes” in her “analysis” of the platform during a hearing held by the Senate Banking Committee on February 14 and titled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.” The hearing was entitled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets.”

In a subsequent tweet, ShapeShift refuted Warren’s claims that it was involved in “illicit funding” by asserting that it “never handles user monies” and that it is unable to “enable this.”

This comes as a result of Warren’s comments made at the senate hearing in which he implied that ShapeShift had hidden reasons for reorganizing itself as a DeFi platform in July of 2021.

Warren said that the reorganization was done to entice users to “wash” their money through the site.

In addition to this clarification, Shapeshift said that it is “not an exchange,” expanding on the fact that it is an open-source cryptocurrency dashboard that “connects users” to various protocols and platforms.

It went on to say that it cares about the “same things” as Warren, specifically naming “user safety” and “access to innovation” as areas of concern that are shared by the two parties.

By providing a link to its discussion forum, ShapeShift urged Warren and other individuals to “constructively participate” in the issue of financial independence and innovation with its community.

This comes only a day after Erik Vorhees, the CEO of ShapeShift, took to his personal Twitter account on February 18 and stated that he is looking forward to “submitting a proposal” to the Shapeshift DAO governance process in response to Elizabeth Warren’s criticism of the platform. Vorhees made this statement in response to Warren’s criticism of the platform.

Warren has been an outspoken critic of cryptocurrencies in recent months. He said in an interview on January 25 that the United States Securities and Exchange Commission (SEC) should “double down” on its attempts to regulate cryptocurrencies since the sector is nervous about what lies ahead.

She said that the previous administration of the SEC “basically gave the green light” to set up a market for cryptocurrencies that was “full of garbage tokens, unregistered securities, rug pulls, Ponzi schemes, pump and dumps, money laundering, and sanctions evasions.”


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Blockchain.com is refute rumors that they are selling assets

Between the months of December and January, officials of the company are said to have explored the possibility of selling sections of its business to other cryptocurrency companies, including Coinbase, according to publications that cite anonymous persons as their sources. In response to the reports, Blockchain.com issued the following statement: “No Blockchain.com firms are for sale.” Blockchain.com is not a vendor of assets but rather a buyer of them.

However, from October 2022, the firm has been making efforts to raise more funding for its operations. This is being done even at a large discount to earlier values of the company’s stock. According to a report by Bloomberg, at the time of the round, it was anticipated that the company would be valued at between $3 billion and $4 billion. The prospective round would assist Blockchain.com in navigating the weak market for cryptocurrencies more effectively.

The attempts to acquire funds are not denied by Blockchain.com, but the company rejects the assertions that assets are being sold. PolySign is a business that is working on infrastructure for financial institutions. Just recently, the firm’s venture arm sold its 80% stake in the company.

Just a few short months after the company reduced its headcount by 150 in July 2022 in response to a loss of $270 million on loans made to the defunct hedge fund Three Arrows Capital, Blockchain.com terminated the employment of approximately 110 of its workers in January, representing 28% of the company’s total workforce (3AC).

Blockchain.com claims that it has more than 37 million verified customers who use 86 million wallets and that it has a presence in 200 countries. Following the acquisition of fresh financing in March 2022, which was headed by the global venture capital firm Lightspeed Ventures and the investment management firm Baillie Gifford & Co, the company’s value increased to $14 billion, up from $5.2 billion before.

Previous investment included a $300 million Series C round that took place in March 2021 and was headed by DST Global Partners, Lightspeed Venture Partners, and VY Capital, as well as $120 million from a broad variety of venture capital organizations.


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