NFT News by Thebittimes.Com

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. ZKFair is set to release a zero-knowledge (ZK) community -driven layer-2 network, according to a press release shared exclusively with crypto.news.  The layer-2 platform launched its testnet in early December and plans to deploy on the mainnet on Dec. 20.  Moreover, ZKFair will also distribute 100% of its tokens to the community through a fair airdrop. This approach ensures everyone has an equal opportunity to participate in the network’s growth and development. Through this model, the community can redefine the future of ZK, where every voice matters and innovation flourishes.  You might also like: Coinbase CEO considers anti-crypto bills as ‘bad political strategy’ The decision to launch ZKFair is to address existing issues. Though ZK technology can be an option for solving scalability issues ...

Gemini wrote to a federal judge asking the bankruptcy court to invalidate any claims Genesis has to a trove of Grayscale Bitcoin Trust (GBTC) shares in an ongoing dispute between both the two crypto entities. The lawsuit filed on Oct. 27 seeks ownership over some 60 million GTBC shares offered as collateral by Genesis Global, a now-defunct crypto lender under the Digital Currency Group (DCB) umbrella and Gemini’s former partner for its Earn program. Gemini said the GBTC shares worth $1.6 billion “would completely secure and satisfy the claims of every single Earn User”, around 340.000 users left stranded since Genesis froze withdrawals in late 2022. The complaint comes amid Genesis’ bankruptcy proceedings and Gemini noted that the beleaguered crypto lender might repay its creditors with assets rightly belonging to Earn customers. Genesis and Gemini remain locked in a legal wrestling match following FTX’s implosion. Several marquee crypto entities fell into insolvency around th...