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The Chinese People's Court of Pingnan County recently initiated a public hearing about a case involving five defendants concerning a high-profile crypto crime. In particular, defendant Lai Mouhang and four accomplices were accused of orchestrating pyramid-selling activities that have reportedly amassed over 600 million yuan.
The Filecoin ecosystem is currently grappling with a damaging controversy. A major initiative based in China has been embroiled in legal proceedings, accused of orchestrating a pyramid scheme.
China's People's Court of Pingnan County recently conducted a public hearing to adjudicate a high-profile pyramid scheme related to one of the leading projects on Filecoin.
Shikongyun, a prominent Filecoin enterprise, is facing legal action as local Chinese prosecutors have sued the company for its alleged involvement in a pyramid scheme worth nearly $100 million.
Filecoin is looking at possible further losses after a bearish breakout and weak BTC price action.
LongHashX, which claims to be one of the world's leading Web3 accelerators with the strong network in Asia, is continuing its partnership with Protocol Labs, the creator of Filecoin and IPFS, in order “to launch the Filecoin Virtual Machine (FVM) Genesis Accelerator.
In a period when venture funding is relatively scarce, hackathons and accelerator programs are a prime way for budding developers teams to get rolling and draw attention.
Filecoin, the native token of the decentralized storage network, has experienced a positive uptick, gaining 2.19% in the past 24 hours, bringing its price to $4.43. With a market capitalization of $1.93 billion, Filecoin stands tall among the leading cryptocurrencies in the market.
Filecoin bulls have secured the $4.25 support again. But late bulls can consider the trendline support if BTC crosses this level.
In the dynamic world of cryptocurrencies, Filecoin emerges as a prominent altcoin that has captured the attention of investors and enthusiasts alike. As the crypto market experiences fluctuations, Filecoin showcases remarkable resilience, holding steady amidst the ups and downs.
LINK, FIL, SNX and THETA are starting to look bullish right as Bitcoin prepares for a volatile price move.
Bitmain, the mining rig manufacturer, has announced the launch of a new rig that mines the digital currency filecoin (FIL). Similar to the company's KAS Miner KS3, the new FIL miner carries a hefty price tag of $38,888 per machine.
Bitmain is the world's leading manufacturer of mining machines, most famous for the ASICs with which it mines Bitcoin, but now it has decided to expand to Filecoin as well.
Crypto mining machine manufacturer Bitmain is venturing into the Filecoin mining field for the first time, with each unit priced at $38,888.
Bitmain, the largest Bitcoin miner, enters the Filecoin field with new mining machines. Start mining with 4,300 T and 0.5% monthly service fee.
Filecoin, the decentralized storage network leveraging the Interplanetary File Storage (IPFS) protocol, has experienced a minor price drop of 5.15% in the past 24 hours, with the current trading price at $4.41. Despite this decline, Filecoin (FIL) showcases resilience with a slight decrease of 0.31% in its price over the past week.
FIL has hit a crucial roadblock which could force bulls to seek re-entry elsewhere if BTC falters further.
A recent report by Messari reveals that Filecoin, a decentralized storage protocol, has seen an increase in storage deals on its network. Currently, the protocol averages 954.2 pebibytes (1.07 billion gigabytes) worth of storage deals, while its raw storage capacity stands at 12.2 exbibytes (14.1 billion gigabytes).
Although utilization rose, protocol and supply revenue declined as more providers slashed fees to incentivize adoption.
FileCoin protocol continues to see growth in terms of storage capacity as the number of deals on the protocol starts to rise.
SOL, AVAX, FIL and EOS price are beginning to look attractive, especially if Bitcoin opens the week with a renewed attack on the $31,000 level.
STORJ, the native token of the crypto-backed, cloud storage platform, rose 15% on the week, far outdistancing bitcoin and ether, among other digital assets.
Filecoin (FIL), the native token of the decentralized Filecoin network, has experienced a significant price increase in the past 24 hours. CoinGecko data reveals that FIL's value has risen by 16.47%, pushing its price to $4.73.
In a dramatic twist, Filecoin's top rival, Storj, a decentralized storage service provider, is leading the altcoin momentum today. According to data from CoinMarketCap, STORJ is changing hands at a price of $0.5296, up by 51.55% over the past 24 hours.
