• Ethereum developers have agreed on Feb. 28 as the target date for the Shanghai upgrade, allowing withdrawals of staked ether.
• Genesis Global Holdco unveiled a proposed plan to sell itself alongside Genesis Global Trading to pay off creditors.
• Surojit Chatterjee, former chief product officer for Coinbase, has joined venture capital firm Andreessen Horowitz as an executive in residence.
Ethereum’s Upcoming Shanghai Hard Fork
Ethereum developers have agreed on February 28th as the target date for pushing their Sepolia test network through the Shanghai hard fork upgrade. This will allow users to make withdrawals from staked ether and represents a major move forward for the blockchain.
Genesis Global Holdco Proposed Sale Plan
In order to help parent company Digital Currency Group (DCG) pay off some of its creditors, Genesis Global Holdco recently filed for bankruptcy protection and unveiled a final proposed plan to sell itself alongside Genesis Global Trading.
Coinbase Executive Joins A16z
Surojit Chatterjee, who formerly served as Coinbase’s Chief Product Officer, recently made news by joining venture capital firm Andreessen Horowitz as an executive in residence for their crypto unit.
BTC Price Drop
The Bitcoin-Dollar pair dropped 0.8% in the last session after rising as much as 1%. The MACD is giving a negative signal with support at 21505 and resistance at 22083. The Ultimate Oscillator is currently in negative territory signalling an oversold market.
Daily Economic Calendar
Today’s economic calendar includes US 3-Month Bill Auction at 16:30 GMT and US 6-Month Bill Auction at 16:30 GMT as well as Eurozone’s Eurogroup Meeting at 07:00 GMT. Treasury bills are short-term securities maturing in one year or less and their yield reflects investor return when held until maturity.