Paid – Coin Network News https://coinnetworknews.com If it's coin, it's news. Fri, 23 Feb 2024 18:53:28 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 New Freelance Marketplace Launches Where Users Get Paid In Bitcoin https://coinnetworknews.com/new-freelance-marketplace-launches-where-users-get-paid-in-bitcoin/ https://coinnetworknews.com/new-freelance-marketplace-launches-where-users-get-paid-in-bitcoin/#respond Fri, 23 Feb 2024 18:53:28 +0000 https://coinnetworknews.com/new-freelance-marketplace-launches-where-users-get-paid-in-bitcoin/

A new development in the freelance industry has emerged with the launch of Plebwork, a dedicated marketplace where freelancers can earn Bitcoin for their work, according to a press release sent to Bitcoin Magazine. Launched today, Plebwork offers a unique platform for freelancers to connect with Bitcoin companies and receive payment directly into their Bitcoin wallets.

Unlike traditional freelance platforms, Plebwork caters specifically to the Bitcoin community, providing a space where freelancers with expertise in Bitcoin-related skills can find part-time jobs with businesses operating in the Bitcoin space. Likewise, businesses seeking qualified part-time talent can access a pool of freelancers who possess in-depth knowledge of Bitcoin.

“We’re building a marketplace for bitcoiners to work together,” said Thibaud, a representative from Plebwork. “Whether working on Bitcoin wallet inheritance, educating individuals, or making Lightning easier, it requires a ton of people to work together in trying new things. We hope Plebwork can help bitcoiners do that while earning more bitcoin by building on Bitcoin.”

The launch of Plebwork aims to address a significant gap in the market, as many Bitcoin businesses have previously relied on general-purpose freelance platforms that may not cater to their specific needs. By offering a dedicated marketplace for Bitcoin-related projects, Plebwork hopes to streamline the process of finding and hiring freelancers while promoting the adoption of Bitcoin as a means of payment for freelance work.

Plebwork is currently available in early access, allowing freelancers to list their profiles for free. Clients seeking to post jobs can request invitations and have their profiles verified to ensure they are Bitcoin-only businesses. With features like built-in invoicing and payment processing using BTCPay Server, Plebwork intends to offer a seamless platform for freelancers to earn bitcoin while contributing to the growth of the ecosystem.



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]]> https://coinnetworknews.com/new-freelance-marketplace-launches-where-users-get-paid-in-bitcoin/feed/ 0 FTX Paid Around $2.2B to Sam Bankman-Fried, New Management Says https://coinnetworknews.com/ftx-paid-around-2-2b-to-sam-bankman-fried-new-management-says/ https://coinnetworknews.com/ftx-paid-around-2-2b-to-sam-bankman-fried-new-management-says/#respond Thu, 16 Mar 2023 10:23:33 +0000 https://coinnetworknews.com/ftx-paid-around-2-2b-to-sam-bankman-fried-new-management-says/
The failed crypto exchange made a total of $3.2 billion in payments to Bankman-Fried and other key employees.

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]]> https://coinnetworknews.com/ftx-paid-around-2-2b-to-sam-bankman-fried-new-management-says/feed/ 0 1 year after $11M LUNC bets; Do Kwon wanted, funds paid, hedge stuck on FTX https://coinnetworknews.com/1-year-after-11m-lunc-bets-do-kwon-wanted-funds-paid-hedge-stuck-on-ftx/ https://coinnetworknews.com/1-year-after-11m-lunc-bets-do-kwon-wanted-funds-paid-hedge-stuck-on-ftx/#respond Thu, 16 Mar 2023 00:34:46 +0000 https://coinnetworknews.com/1-year-after-11m-lunc-bets-do-kwon-wanted-funds-paid-hedge-stuck-on-ftx/

Approximately one year prior, on Mar. 14, 2022, cryptocurrency trader GiganticRebirth (GCR) invited the then co-founder of CEO of Terraform Labs, Do Kwon, in a $10 million bet that the price of Terra Luna (LUNC) would be lower than its then price of $92.4 per token one year later. The blockchain executive accepted the offer, the second in the series after the day prior, when cryptocurrency trader Algod offered a $1 million bet that LUNC would be lower than $88 per token on Mar. 13, 2023, to which Kwon also accepted, resulting in two bets worth $11 million and prize money pool of $22 million .

The funds, which totaled $22 million from all participants, were held in escrow by blockchain personality Cobie on their Ethereum address. Cobie claimed at the time, a hot wallet was given to participants “on my mobile phone while i was in the middle of africa, when i woke up there was $22m deposited.”

“i didn’t want 22m on a mobile tent while I was living in a tent amongst lions lmao.”

As told by Cobie and substantiated by blockchain data, the blockchain personality paid out the bets from the hot wallet in April 2022, shortly after the $40 billion LUNC and accompanying algorithmic stablecoin Terra USD (USTC) ecosystem imploded, with LUNC trading at fractional decimal values close to zero. However, Cobie also stated in Dec. 2022: 

“I actually paid out the bet shortly after Luna went to 0, and then bought enough Luna to hedge in case it somehow went back to $88. But I lost my hedge (custodied in FTX) so if Luna goes to $88 in the next 3 months I am fucked”

As the bet was active until mid-March of 2023, Cobie was required to hold collateral despite LUNC’s collapse, as the funds were paid out early, and conditions could differ at settlement. At the time of publication, LUNC is currently trading at $0.000124 per token.

Last Nov. 2022, cryptocurrency exchange FTX, then third-largest in the world by volume, filed for bankruptcy over allegations of misappropriating users’ funds and left the deposits of over 1 million creditors frozen. On Apr. 4, 2022, Cobie transferred the prize money and principal, worth $22 million in stablecoins, to winners GCR and Algod via FTX. The subsequent flow of funds is unclear.

On Sept. 26, 2022, Interpol issued a red notice arrest warrant for Do Kwon per the request of South Korean prosecutors over accusations of fraud relating to Terra Luna’s collapse. The former blockchain executive is reportedly hiding in Serbia, which does not have an extradition agreement with South Korea. Aside from being out $11 million from the bets, the U.S. Federal Bureau of Investigation and Department of Justice reportedly began probing Terra Luna’s collapse on Mar. 14, 2023. One month prior, the U.S. Securities and Exchange Commission charged Terraform Labs and former CEO Do Kwon with “defrauding investors in crypto schemes.”