Latest Crypto News

  • Starkware commits to open source its ‘magic wand’ Starknet Prover News - 9 hours ago
    The prover is the crucial engine Starkware uses to roll up hundreds of thousands of transactions and compress them into a tiny cryptographic proof written on the Ethereum blockchain. Ethereum layer 2 scaling solution StarkWare announced plans to open source its proprietary Starknet Prover under the Apache 2.0 license, which has processed 327 million transactions and minted 95 million nonfungible tokens (NFTs) to date. The prover is the crucial engine Starkware uses to roll up hundreds of thousands of transactions and compress them into a tiny cryptographic proof written on the Ethereum blockchain.“We think of the Prover as the magic wand of Stark technology. It wondrously generates the proofs that allow unimaginable scaling,” said Eli Ben-Sasson, president and co-founder of Starkware.Eli Ben-Sasson presenting at the Starkware sessions 2023. Source: CointelegraphStarkware has faced criticism from the crypto community and competing solutions such as ZK Sync and Polygon for holding onto the IP behind its tech, which contradicts blockchain’s open source and interoperable ethics. Making the prover open source under the Apache 2.0 license will enable any other project or network — or even games or database developers — to make use of the technology, edit the code and customize it. The tech was released in 2020 and is already being used by ImmutableX, Sorare and dYdX.A sneak peek of the Starkware sessions 2023. Source: CointelegraphAvihu Levy, Starkware’s head of product, was reluctant to commit to a time frame for open-sourcing the prover but said it would occur after the token launch and decentralization of Starknet itself. He agreed, however, that it would be possible this year. “We want to move forward with a decentralized, permissionless network and that means that you need to have this critical component out there,” he revealed speaking to Cointelegraph.Levy said the decision to open source the prover showed Starkware was increasingly confident about its technology and said it would also enable projects to be more confident about using it as a crucial part of their protocols. “In StarkEx, it’s sometimes considered vendor lock-up or lock-in. So the commitment wasn’t just a business commitment it was a technology commitment to StarkEx,” he explained. “This is a strong signal that you will have everything you need to run it yourself independent of Starkware.”Starkware has already open-sourced its programming language and EVM competitor Cairo 1.0, Papyrus Full node and is in the process of open-sourcing its new sequencer. Related: StarkNet overhauls Cairo programming language to drive developer adoptionBen-Sasson launched the Starkware Sessions conference in Tel Aviv on Sunday, which organizers said was the largest layer 2 conference held so far. “This is a landmark moment for scaling Ethereum,” he told about 500 developers and guests. “It will put Stark technology in its rightful place, as a public good which will be used to benefit everyone.”
  • Bitcoin price may retest $20K on US CPI amid absence of soft landing — trader News - 10 hours ago
    The Fed will not save the U.S. from recession with rate hikes, and risk assets will suffer, Michaël van de Poppe warns. Bitcoin (BTC) could face a retest of $20,000 and the United States will fail in its plans for a “soft landing” on inflation, a new analysis says.In a YouTube update on Feb. 5, Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, warned that the tide is due to turn for risk assets.U.S. “probably” headed for recession — Van de Poppe Amid confusion over how incoming U.S. macroeconomic data may affect market sentiment, Van de Poppe says there is an increasing chance that the rebound seen in crypto and stocks this year may flip bearish.Bitcoin, for example, saw 40% gains in January, but like some others, he believes that a disappointing February is a real possibility.“I think that people should understand that there is no soft landing, that there is likely a continuation of this downward trend on the markets,” he said about the longer-term status quo.The U.S., Van de Poppe continued, would “probably have” a recession thanks to the extent of the Federal Reserve’s interest rate hikes.Should a comedown begin to show itself, for BTC/USD, a potential retest target lies between $20,000 and $21,000.Much depends on the outcome of Consumer Price Index (CPI) data for January, due Feb. 14. Should it show that inflation is slowing less than expected or even disrupting that downtrend, the results could benefit the U.S. dollar while taking the wind out of the risk asset rally.The U.S. Dollar Index (DXY), as Cointelegraph reported, is currently in the process of consolidating after dropping 13% since mid-2022, when it circled twenty-year highs.“In this case, the next week will probably bring a case of the dollar starting to rally, or the week after with CPI and PPI, so that’s why it’s very important to keep an eye on this chart,” Van de Poppe added.U.S. Dollar Index (DXY) 1-day candle chart. Source: TradingViewBitcoin bears “stuck in cash”Meanwhile, others debated the potential for a BTC price pullback ahead of a less significant macroeconomic week.Related: Bitcoin clings to $23.5K as trader says BTC ‘identical’ to 2020 breakoutA higher low would provide a better entry point for longs, popular trader Crypto Tony suggested, arguing that the bear market remained in play“Even if this was the start of a bull market, and personally, I am still in the camp we are not. You can still get a good safer entry on the higher low pullback,” he told Twitter followers on the day.Some familiar bullish voices were as active as ever, however, including crypto and market education, analysis and prediction tool, IncomeSharks.“People still seem to be confused as to why it’s been up only,” it summarized in a tweet on Feb. 3.BTC/USD traded at around $23,400 at the time of writing, according to data from Cointelegraph Markets Pro and TradingView, with around 15 hours until the U.S. weekly close.“Just remember majority of bulls are still holding and not selling. Bears…
  • Is it possible to achieve financial freedom with Bitcoin? News - 10 hours ago
    Bitcoin aims to bring power back to the people. Beyond that, a calculated investment in Bitcoin can potentially bring one closer to financial freedom. But how does one do that? Over the last 14 years, investors have been attracted to Bitcoin (BTC) for many reasons — from being a potential solution to the economic woes of the existing fiat economic system to reaching the unbanked and diversifying portfolios. However, a large portion of the general public sees Bitcoin as a gateway to financial freedom amid growing fiat inflation and geopolitical uncertainties.Traditional banking systems have, time and again, served as a tool for centralized governments to dictate financial access, especially during emergencies. Most recently, the Ukraine-Russian war served as a case study for how cryptocurrencies helped the displaced and the unbanked access funds for basic necessities. As intended by the creator Satoshi Nakamoto, Bitcoin seeks to bring power back to the people. No amount of regulations, sanctions or bans can stop people from using Bitcoin as money. Beyond that, a calculated investment in Bitcoin has the potential to bring people closer to attaining their dream of financial freedom. But how can people achieve that?HodlThe massive volatility of cryptocurrencies coupled with the restlessness of an investor is a recipe for an instant loss. Many fail to understand that Bitcoin — unlike other cryptocurrencies — is a long-term investment. Hence, Bitcoin veterans recommend holding the asset during bull markets and buying the dips during bear markets.According to data from UpMyInterest, setting aside a few off-years, Bitcoin holders witnessed a mean annual return of 93.8%, which in its best-performing year, spiked to 302.8%.Historical summary of Bitcoin annual returns. Source: UpMyInterestAs simple as it sounds, hodling (crypto lingo for holding assets) has proved difficult for investors. Some factors that trigger abrupt Bitcoin selling include the spreading of FUD (fear, uncertainty and doubt) and price movements.While it makes sense in the short-term to earn profits off Bitcoin’s volatility, zooming out the price chart reveals a long-term greater incentive in holding. Moreover, investors owning Bitcoin will always have the option to utilize this spending across geographical boundaries without losing value.Dollar-cost averagingConsidering Bitcoin as a viable long-term investment option, many investors tend to implement the dollar-cost averaging (DCA) strategy. This involves setting aside a predetermined dollar amount from a regular income to be reinvested in Bitcoin every day, week or month. While El Salvador was initially criticized for adopting Bitcoin as a legal tender amid crippling inflation, the country could repurpose the resultant unrealized gains to fund social projects, such as building hospitals and schools.With the Bitcoin bull run running out by 2022, Salvadoran President Nayib Bukele followed a strategy similar to DCA, wherein the country would purchase 1 BTC every day.We are buying one #Bitcoin every day starting tomorrow.— Nayib Bukele (@nayibbukele) November 17, 2022 When Bukele announced his plan for buying Bitcoin, it was priced roughly at $16,600, as shown by data from Cointelegraph Markets Pro and TradingView. Bitcoin price movement ever since Nayib Bukele announced plans…
  • Fantom’s 5-week winning streak is in danger — Will FTM price lose 35%? News - 13 hours ago
    As per technical data, the FTM market has turned overbought after rallying 230% in five weeks, with the coin’s momentum slowing down compared to the price boom. The price of Fantom (FTM) risks pulling back in February due to a growing divergence between its price and momentum in recent weeks.FTM price rallies 230% after Cronje’s 2023 roadmapFTM’s price has grown by 230% in the past five weeks, trading at $0.61 on Feb. 5. The rally came as a part of a broader crypto market recovery but outperformed most top-ranking crypto assets due to the hype created by Andre Cronje.Cronje is the co-founder and architect of Fantom’s layer-1 blockchain. On Dec. 26, 2022, the developer released a letter discussing the goals and priorities for the Fantom ecosystem in 2023, including his intention to allow decentralized app developers to earn 15% of the network’s revenue.The FTM price has seen five weeks of gains in a row since Cronje’s letter to the Fantom Foundation team.FTM/USD weekly price chart. Source: TradingViewThe FTM/USD pair looks ready to close the week ending Feb. 5 with at least a 25% profit, helped by Cronje’s latest Twitter thread that gives 13 reasons why Fantom will be one of the best layer-1 blockchains in 2023. Fantom price technicals hint at correction aheadNevertheless, FTM’s ongoing rally risks exhaustion due to a growing bearish divergence between its rising price and falling momentum.On the daily chart, FTM/USD has formed higher highs since mid-January, while its relative strength index (RSI) has made lower highs. As a rule of technical analysis, such a discrepancy means that the upside momentum is slowing.FTM/USD daily price chart featuring bearish divergence. Source: TradingViewIn addition, the RSI remains above 70, suggesting FTM is “overbought.“ It also hints about short-term bullish exhaustion and possible sideways or downward price action in the coming days.Related: Crypto quick hits: 8 simple steps to multiple weekly winnersFTM risks crashing toward $0.42, or 35% from current price levels, given the level’s recent history as resistance. Moreover, a close below $0.42 would bring FTM’s 200-day exponential moving average (200-day EMA; the blue wave) at $0.38 into view as the next downside target.FTM/USD daily price chart. Source: TradingViewOverall, Fantom maintains its bullish bias as long as it remains above its 200-day EMA and the 50-day EMA (the red wave). This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
  • Shiba Inu price rebounds 100% after record lows against Dogecoin — more upside ahead? News - 15 hours ago
    SHIB price technicals hint at another possible 40% rally for Shiba Inu versus Dogecoin as Shibarium comes into focus. The Shiba Inu (SHIB) price was at the lowest versus its top rival, Dogecoin (DOGE), in November 2022. Three months later, the dynamics have flipped. SHIB price rises 100% versus DOGEOn Feb. 4, 2023, the SHIB/DOGE pair reached 0.00001638 DOGE, up almost 100% three months after bottoming out at 0.00000993 DOGE, its lowest level on record.SHIB/DOGE daily price chart. Source: TradingViewThe sharp recovery came as investors’ focus shifted to the impending launch of Shibarium, a Shiba Inu-backed layer-2 blockchain built on the Ethereum mainnet, announced on Jan. 16. As Cointelegraph reported, the SHIB price rebound gained momentum amid reports that Shibarium will go live on Feb. 14.In comparison, Dogecoin’s fundamentals looked pale, with Elon Musk suspending a DOGE tipping bot for violating Twitter’s rules.Hey @elonmusk Our Tipping bot @MyDogeTip got suspended for no reason. It was a good bot used to spread Dogecoin across the community.— DogeDesigner (@cb_doge) February 1, 2023 Nonetheless, both memecoins have had a great start to 2023. SHIB/USD is up almost 85%, while DOGE/USD is up 36% year-to-date. What’s next for SHIB/DOGE?According to several technical indicators, the SHIB/DOGE recovery trend is set to continue in the coming weeks. Based on historical cycles, the pair could climb to 0.00002181 by March 2023, which would be a 40% gain from current price levels, as shown in the chart below.SHIB/DOGE daily price chart. Source: TradingViewDOGE, SHIB price downside in February?But while SHIB appears to be in a better position to outperform DOGE, both memecoins face headwinds against the dollar in February. For instance, Dogecoin risks a small correction versus the dollar in the coming days as it paints a potential rising wedge pattern.Rising wedges are bearish reversal patterns showing the price rising inside two converging, ascending trendlines. They resolve after the price breaks below the lower trendline and falls by as much as the wedge’s maximum height.Applying the scenario on the daily DOGE price chart brings its downside target to $0.0850, down 10% from current price levelsDOGE/USD daily price chart featuring rising wedge setup. Source: TradingViewMeanwhile, SHIB/USD also looks overstretched on its daily chart, based on its relative strength index of 81 — higher than 70 is considered “overbought.“In addition, it’s now facing a strong resistance zone at around $0.00001517, where a pullback is likely. If this is the case, February could see the SHIB price drop to $0.00001300–$0.000013000 — its most voluminous area in recent months, down 13%–20% from current price levels.SHIB/USD daily price chart. Source: TradingViewConversely, a break above the $ 0.00001517 resistance would position SHIB for a run to $0.00001651, the upside target of its prevailing bull pennant setup. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
  • London emerges as world’s most crypto-ready city for business — research News - 15 hours ago
    An examination of eight key data points determined London to sport the highest crypto readiness to entice businesses and start-ups. Along with pro-crypto regulations, mainstream adoption of cryptocurrencies requires a supporting infrastructure that can allow the general public access and exposure to the ecosystem. When considering eight key indicators around taxes, ATMs, jobs and events in crypto, London stands at the top as the most crypto-ready city in the world for businesses and start-ups.United Kingdom Prime Minister Rishi Sunak’s vision to “ensure the U.K. financial services industry is always at the forefront of technology and innovation” is on the right path, research conducted by Recap shows. An examination of eight key data points determined London to sport the highest crypto-readiness to entice businesses and start-ups.Top 20 crypto-ready cities in the world. Source: RecapAs shown above, leading metropolitan cities such as Dubai and New York made it to the top three in the list. However, Hong Kong, which was positioned as the most crypto-ready country in 2022, fell to seventh place in the research. Top 50 crypto hubs, city-wise comparison. Source: RecapThe above list shows the top 50 major cities with an infrastructure ready for the mass adoption of cryptocurrencies. Some key factors considered in the study include the total number of crypto-specific events, crypto-related jobs, crypto-specific companies and the number of crypto ATMs. Some of the non-crypto considerations include quality of life, research and development spending as a percentage of gross domestic product and capital gains tax rate.Of the lot, London is home to the most people working in crypto-related jobs — an indication of higher interest among the general public in the crypto ecosystem. However, other cities overshadow London in some metrics, strengthening the case for the global adoption of cryptocurrencies.Related: Bitcoin nodes data: Frankfurt houses the largest city-wide networkSteering forward in the quest to stay at the forefront, the Bank of England and the His Majesty’s Treasury highlighted the need to launch a central bank digital currency by 2030.Cointelegraph previously reported that sources claim that the “digital pound” roadmap is set to be introduced by mid-February. The U.K. reportedly experienced a 35% drop in cash and coin payments in 2020, indicating a trend toward cashless transacting.
  • Google invests $300M in AI firm previously funded by Sam Bankman-Fried News - 17 hours ago
    Members of Crypto Twitter are speculating whether Bankman-Fried and FTX will source the reported $530 million invested in Anthropic to pay off FTX creditors. Google Cloud reportedly invested $300 million into artificial intelligence (AI) startup firm Anthropic, which also received over $500 million in funds from former FTX CEO Sam Bankman-Fried about six months before FTX catastrophically collapsed.While the $300 million figure was reported by Financial Times on Feb. 4, Anthropic confirmed the investment partnership with Google Cloud on the same day despite not disclosing any figures:We’re excited to use Google Cloud to train our AI systems, including Claude!— Anthropic (@AnthropicAI) February 3, 2023 In the same announcement, Anthropic also confirmed that they previously raised capital from Bankman-Fried and former Alameda Research CEO Caroline Ellison, among others, in its Series B fundraising round:“The Series B round was led by Sam Bankman-Fried, CEO of FTX. The round also included participation from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR).”The fundraising efforts led by Bankman-Fried took place in April 2022, according to Crunchbase.A recent post by The New York Times reported that of the $580 million raised, about $530 million came from Bankman-Fried and his former business partners.But some believe the figure to be even higher.One FTX creditor believes Bankman-Fried’s stake in the AI company could be as high as $1.1 billion. However, the creditor didn’t elaborate on the figure.Other members of the Crypto Twitter community are also speculating whether Bankman-Fried’s stake will be used to pay off the massive pile of debt that FTX has accumulated from their recent controversies. Related: Google AI turns all 10,000 BAYC NFTs into machine-made artAs for the partnership, Anthropic will now utilize Google Cloud’s GPU and TPU clusters to train, expand, and implement its AI chatbox, called “Claude” — similar to that of OpenAI’s ChatGTP.Google Cloud received about a 10% stake in Anthropic, according to Financial Times.While it remains to be seen where the bulk of the debt in the FTX bankruptcy case will be sourced from, Bankman-Fried personally pleaded not guilty to all eight fraud and conspiracy-based charges laid against him on Jan. 3. Bankman-Fried currently remains under house arrest at his parent’s California home until his trial date, which is set for Oct. 2, 2023. 
  • New Jersey enforces cease and desist orders against three ‘pig butcher’ scammers News - 20 hours ago
    These cybercriminals reach out to romance-seekers from dating apps like Tinder before convincing them to invest in their fraudulent cryptocurrency investment schemes. The New Jersey Bureau of Securities has ordered three website operators to stop luring romance-seeking victims into their fraudulent cryptocurrency investment schemes.The three firms hit with the cease and desist orders were Meta Capitals Limited, Cresttrademining Limited and Forex Market Trade, according to a Feb. 3 press release from New Jersey’s Attorney General Matthew Platkin.All three firms claimed to be cryptocurrency trading platforms, where they would entice victims into copying the trades of their “expert traders” so that they could make big returns.These firms bring in victims by reaching out to romance seekers on dating apps like Tinder through what is known as the “pig butchering” scam.Online scammers are taking advantage of investors in a new scam known as “pig butchering” where victims are “fattened up” before scammers take all they can. With today’s cease and desist orders we're protecting NJ from cryptocurrency fraud.— Attorney General Matt Platkin (@NewJerseyOAG) February 3, 2023 “Pig butchering” is a scam where cybercriminals use social media to contact victims, instigate a romantic relationship and then lure them into a fraudulent cryptocurrency investment scheme once they’ve gained their trust.Platkin said they’re working hard to protect New Jersey residents getting lured into the investment scam:“These scammers build up a sense of comradery between them and their victim—all to squeeze every cent they possibly can out of these people with promises of huge returns on investments.”“We are working around the clock to protect the victims of these types of scams and to show these scammers our laws still apply in cyberspace,” Platkin added.Acting director Cari Fais of the bureau’s consumer affairs division also hopes that the enforcement actions will make it clear that they will “pursue scammers who prey on people’s trust.”The crackdown comes as the United States Federal Bureau of Investigation reported about 4,300 victims to have lost a combined $429 million from pig butcher scams alone in 2021. No statistics have been released yet for 2022.Chief of the Bureau of Securities Amy Kopleton suggested that the pig butcher scam works well for fraudsters because their target audience is already in a position of vulnerability:“Even the savviest of investors can have a hard time recognizing fraud when it’s being perpetrated by someone for whom they have a romantic interest.”Related: Navigating the world of crypto: Tips for avoiding scamsThe bureau said that the companies hit with the cease and desist orders were also found to have violated New Jersey securities laws by offering and selling unregistered securities.On top of that, Meta Capitals Limited and Cresttrademining Limited were also found to operate as unregistered broker-dealers.Pig butcher scams aren’t just running rampant in the United States.A recent investigation by the United Kingdom Bureau of Investigative Journalism found that of the 168 forex companies it considered to be engaging in fraudulent activity, about half of them linked to pig butchering-like scams.
  • SBF bail guarantor to go public, UK crypto framework and Celsius news: Hodler’s Digest, Jan. 29 – Feb. 4 News - 23 hours ago
    Top Stories This Week SBF’s $250M bail guarantors should be made public, rules judge The identities of two individuals who helped former FTX CEO Sam Bankman-Fried with his $250 million bail bond could be revealed next month following a recent ruling by United States District Judge Lewis Kaplan. Bankman-Fried’s legal counsel has until Feb. 7 […] Top Stories This WeekSBFs $250M bail guarantors should be made public, rules judgeThe identities of two individuals who helped former FTX CEO Sam Bankman-Fried with his $250 million bail bond could be revealed next month following a recent ruling by United States District Judge Lewis Kaplan. Bankman-Frieds legal counsel has until Feb. 7 to contest the decision. As bankruptcy proceedings continue, FTX and affected parties have requested subpoenas for information and documents from close relatives of Bankman-Fried, claiming not all members of his inner circle have responded to requests for information. Other recent news includes Alameda Research suing bankrupt crypto lender Voyager Digital in an attempt to claw back $445.8 million in loan repayments made before FTX collapsed.UK Treasury publishes crypto framework paper: Heres whats insideThe United Kingdom’s HM Treasury published a long-anticipated consultation paper for its upcoming crypto regulation. The document covers a broad range of topics, from algorithmic stablecoins to nonfungible tokens to initial coin offerings. The authority aims to level the playing field between crypto and traditional finance by incorporating digital assets into the U.K.’s Financial Services and Markets Act 2000. Read also Features Here’s how to keep your crypto safe Features Wild, Wild East: Why the ICO Boom in China Refuses to Die Celsius publishes list of users eligible to withdraw majority of assetsBankrupt crypto lending firm Celsius came up with a withdrawal process for users who had funds in its custody in June 2022, when the company ceased withdrawals. Celsius released an official update on upcoming withdrawals, providing the list of users eligible to access approximately 94% of qualified custody assets. Users will also receive specific details related to gas and transaction fees associated with the upcoming procedures.Silvergate faces DOJ investigation over FTX and Alameda dealingsCrypto bank Silvergate is being probed by the United States Department of Justice fraud unit over its involvement with the bankrupt FTX exchange and its affiliates. Investigators are trying to find out how deep the FTX and Alameda Research dealings went with the California-based bank. According to Silvergate, Alameda opened an account in 2018, before the launch of FTX. Silvergate was heavily impacted by the collapse of FTX in November, reporting a $1 billion loss last quarter.Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setbackMark Zuckerberg, CEO of Meta, said the company plans to remain committed to its long-term strategy for the metaverse despite its Reality Labs business suffering operating losses amounting to $13.7 billion in 2022 the largest ever yearly losses recorded for its metaverse-building division. The company’s overall revenue for the fourth quarter was $32.1 billion, surpassing Wall Street expectations.Winners and LosersAt the end of the week, Bitcoin (BTC) is at…
  • UK is ‘likely’ to need digital currency, says BoE and Treasury: Report News - 1 day ago
    The digital pound roadmap is reportedly set to be introduced next week, along with a joint public consultation. The Bank of England (BoE) and His Majesty’s Treasury believe the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Daily Telegraph report on Feb. 4. The “digital pound” roadmap is set to be introduced next week, a government source told the newspaper. Deputy Governor Jon Cunliffe is scheduled to give an update on the BoE’s work on the CBDC on Feb. 7“On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” BoE Governor Andrew Bailey and Chancellor of the Exchequer Jeremy Hunt told the Telegraph. The BoE declined to comment on the article but announced that a joint consultation on the digital pound would be released soon. The U.K. reportedly experienced a 35% drop in cash and coin payments in 2020. Cash accounts for approximately one in six payments; debit and credit cards account for the other five. A central bank digital currency is a digital version of government-issued currency tied to fiat reserves at a 1:1 ratio.Related: What are CBDCs? A beginner’s guide to central bank digital currenciesThe news comes just a few days after HM Treasury posted an open position on LinkedIn for a head of central bank digital currency. The job description presented the role as “important, complex, and cross-cutting”, requiring an “extensive engagement across and beyond the HM Treasury.”The digital pound is one of many CBDCs expected to be introduced across the world in the years ahead. The European Central Bank has been discussing the future of a digital euro, with several countries, including Sweden and Denmark, also exploring the concept of digital currencies.Last year, China’s digital yuan was launched in beta for iOS and Android local app stores. Recent developments include upgrades to smart contract functionality alongside a series of use cases, Cointelegraph reported.
  • Genesis unsecured creditors’ committee appointed News - 1 day ago
    The seven-member committee will represent the creditors in court, having the right to participate in the reorganization plan. A seven-member committee has been appointed to represent the interests of unsecured creditors in the Genesis Global bankruptcy case, according to court filings on Feb. 4. The committee will represent the creditors in court, having the right to be consulted before major decisions and to participate in the reorganization plan. Members are generally selected from a list of the 20 largest unsecured creditors.Among the chosen members are Mirana Asset Management — an arm of crypto exchange Bybit — SOF International, Digital Finance Group and crypto exchange Bitvavo, along with three individual creditors, Amelia Alvarez, Richard Weston and Teddy Andre Amadeo Goriss. The group was appointed by William Harrington, a representative for the United States Trustee — an executive branch agency within the Justice Department responsible for monitoring bankruptcy cases. Forming a creditor committee is an important step in bankruptcy proceedings. Related: Genesis Capital’s fall might transform crypto lending — not bury itWith over $290 million exposure, Bitvavo sits among the biggest creditors, followed by Mirana with $150 million and $37 million from Digital Finance Group. Genesis Global Holdings and its lending business subsidiaries, Genesis Global Capital and Genesis Asia Pacific — collectively known as Genesis Capital, filed for bankruptcy on Jan. 19, citing liabilities up to $10 billion.The companies sought relief under Chapter 11 two months after disclosing liquidity issues due to the collapse of the crypto exchange FTX. Withdrawals have been suspended from Genesis Global Capital’s platform since Nov. 16, 2022On Jan. 24, a group of creditors filed a securities class-action lawsuit against Genesis’s parent company, the Digital Currency Group and its founder and CEO, Barry Silbert, alleging violations of federal securities laws. The lawsuit claims that Genesis committed securities fraud through a scheme to defraud potential and existing digital asset lenders by making false and misleading statements. In the plaintiffs’ view, Genesis intentionally misrepresented its financial condition in violation of the United States Securities Exchange Act section 10(b).
  • FTX-linked townhouse in Washington DC unlisted: Report News - 1 day ago
    A few blocks from the U.S. Capitol, the townhouse belongs to Guarding Against Pandemics, a nonprofit organization founded by Gabriel Bankman-Fried, SBF’s brother. A property linked to Sam Bankman-Fried’s political spending was pulled off the market by the seller as a sign of “good faith” after being linked to FTX customer funds, The Wall Street Journal (WSJ) reported.The townhouse is located a few blocks from the United States Capitol and is owned by Guarding Against Pandemics, a nonprofit organization established by Gabriel Bankman-Fried, brother of the bankrupt exchange’s former CEO. In court filings from January, FTX’s new management claimed that customer funds were misappropriated to purchase the property for $3.3 million. The Guarding Against Pandemics pulled the listing after media outlets contacted the real estate agent about the property. A spokesperson for Guarding Against Pandemics told the WSJ that Gabriel is no longer part of the organization. Recently, FTX’s creditors requested subpoenas for documents from Bankman-Fried’s mother, Barbara Fried, and Gabriel, claiming they failed to respond to previous information requests.According to property records, the nonprofit organization tried to sell it for the same price it paid in April 2022 to lobbyist Mitch Bainwol and his wife, Susan Bainwol.Related: FTX sister company Alameda Research sues Voyager Digital for $446MThe three-story building is 4,100 square feet, has four bedrooms and was reportedly used as the organization’s office, with workstations in various rooms. The real estate company in charge of the listing held a few open houses, but no purchase offers were received.FTX’s donations to political parties and candidates are under investigation by U. S. prosecutors. Bankman-Fried was the second-largest “CEO contributor” to Joe Biden’s 2020 presidential campaign, contributing $5.2 million. Days ahead of the midterm elections in November 2022, he said he was a “significant donor” to Republicans and Democrats.The exchange’s new management team has been working to identify funds to repay creditors since filing for bankruptcy on Nov. 11, 2022. FTX attorney Andy Dietderich said the exchange had “recovered $5 billion in cash and liquid cryptocurrencies” as of January. Clawback provisions could force businesses and investors to return billions of dollars paid in the months before the crypto exchange’s collapse, Cointelegraph has reported.
  • How to protect against crime in the metaverse News - 1 day ago
    To protect against crime in the metaverse, take precautions, such as using secure passwords, and report suspected criminal activities to law enforcement. How to protect yourself in the metaverseTo protect yourself in the metaverse, use strong passwords, be cautious of suspicious activity, and limit the amount of personal information shared online.Here are some ways to protect yourself in the metaverse:Use strong and unique passwords: Create secure passwords utilizing a variety of letters, numbers and symbols and steer clear of using the same one for many accounts.When disclosing personal information, exercise caution: Be cautious when sharing information online and be on the lookout for unauthorized requests for personal information.Utilize two-factor authentication: To further secure your accounts, use two-factor authentication.Update your hardware and software: To guard against any vulnerabilities, make sure to keep your software and devices up to date with the most recent security upgrades.Report suspicious activity: Inform the proper authorities or the platform’s moderation team of any questionable activity or behavior.Pay attention to phishing attempts: To deceive you into revealing personal information or login passwords, you should be on the alert for phishing attempts.Use a virtual private network (VPN), if possible: When entering the metaverse, use a VPN to secure your internet connection and safeguard your personal data.Set privacy preferences: Utilize the privacy settings and tools offered by the metaverse platforms to control how much of your personal information is exposed to others.Be aware of the potential sexual harassment: Take precautions to shield yourself from offensive or unwanted behavior by being aware of the possibility of sexual harassment in the metaverse.Beware of scammers: Criminals may try to fool you by using social engineering, making up identities or impersonating.By being mindful of the hazards and cautions in virtual reality worlds, users can take further precautions to protect themselves. This can entail being watchful with the data they disclose online, exercising caution when speaking to strangers and blocking or reporting any individuals who engage in inappropriate behavior.Are there any sexual harassment risks in the metaverse?In virtual worlds, people may feel empowered to engage in unethical or criminal behavior, such as sexual harassment, due to the anonymity and lack of oversight by law enforcement agencies.In the metaverse, sexual harassment can take many forms, including:Virtual sexual assault: Sexual propositions, unwanted touching and other unwanted physical contacts could all constitute virtual sexual assault.Online sexual harassment: Online sexual harassment may take the form of sending unwelcome sexually suggestive messages, exchanging inappropriate or sexually explicit photographs, or making vulgar remarks.Cyberstalking: This can involve persistently sending unwelcome messages or following someone online with the intention of intimidating or harassing them.Non-consensual sharing of intimate images: Sharing intimate photos or films of someone without their consent is referred to as non-consensual sharing of intimate photographs or revenge porn.Online grooming: This may involve adults pursuing children or other vulnerable individuals in virtual spaces with the intention of sexually exploiting them.Metaverse users should report any instances of sexual harassment to the relevant authorities, and metaverse companies should have strong policies in place…
  • Bitcoin clings to $23.5K as trader says BTC ‘identical’ to 2020 breakout News - 1 day ago
    Bitcoin is far from turning everyone bullish, but several sources point to classic bull market structures now in place on BTC price charts. Bitcoin (BTC) circled $23,500 on Feb. 4 as bulls refused to give up support in out-of-hours trading.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin price conjures 2020 memoriesData from Cointelegraph Markets Pro and TradingView showed BTC/USD holding a narrow range in place since the Feb. 3 Wall Street open. Macroeconomic data releases from the United States provided modest volatility but no overall trend change as traders bided their time heading into the weekend.Opinions on the longer-term outlook were mixed, however, with some maintaining that there was little reason to trust that Bitcoin’s rally would continue.“Seeing $50,000 calls already on Bitcoin and we have yet to complete a higher high and higher low market structure change,” popular trader Crypto Tony summarized in part of a tweet on the day.More optimistic was fellow trader Credible Crypto, who doubled down on a theory that compared current BTC price action to that of late 2020, just after Bitcoin had passed its old 2017 all-time high.“Price action has developed beautifully off our lows, mimicking the bottom formation that preceded our last impulse from 10k-60k+. Current consolidation (circled in green) also looks identical to PA from that impulse,” he wrote in an update to a corresponding Twitter thread. “BTC may continue to pump while most wait for a pullback…”BTC/USD comparative charts. Source: Credible Crypto/ TwitterOthers were concerned about a turnaround in the fortunes of the U.S. dollar, which could impact risk assets across the board if it were to continue.The U.S. Dollar Index (DXY) was “ringing up alarm bells” for popular trader Bluntz, who revealed a segue into stablecoins.“After such a long and deep sell-off, do we think the DXY is already done on the upside? I don’t. Lotta shorts to squeeze yet,” macro investor David Brady commented about the dollar’s decline from twenty-year highs in Q3 2022.U.S. Dollar Index (DXY) 1-day candle chart. Source: TradingViewRSI poised for “bullish continuation”Focusing on monthly timeframes, meanwhile, trader and analyst Rekt Capital eyed a potential cue for Bitcoin to dip before continuing higher.Related: Bitcoin due new ‘big rally’ as RSI copies 2018 bear market recoveryThis came in the form of its relative strength index (RSI), which in January bounced from all-time lows to reclaim a key support level.While acknowledging that historically, Bitcoin markets “haven’t really seen double bottoms” in RSI, he argued that there was still a chance that a higher low could come next.“Now just reaffirming and keeping these levels consistent and stable — that’s what we really want to see for bullish continuation, ” he concluded in a YouTube video released on Feb. 3.Bitcoin relative strength index (RSI) annotated chart (screenshot). Source: Rekt Capital/ YouTubeA Twitter survey from Rekt Capital likewise delivered a narrow consensus that a dip should come for BTC/USD.The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
  • Tax strategies allow crypto investors to offset losses News - 1 day ago
    Reporting cryptocurrency when filing taxes can help investors offset their losses. 2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the crypto industry lost a total of $3.9 billion in 2022. Detrimental losses such as these are often concerning for crypto investors, yet there may be a silver lining behind decreasing assets for investors reporting crypto on their taxes. Lisa Greene-Lewis, a certified public accountant at TurboTax, told Cointelegraph that while crypto investors made huge gains in 2021, this changed drastically in 2022. “We have seen a crypto winter occur, and TurboTax wants to help investors cope with their losses,” she said. According to Greene-Lewis, tax-loss harvesting is the most important notion to keep in mind when it comes to saving money when filing taxes. She said: “With crypto, you can offset gains with losses. Any leftover losses can be offset up to $3,000 against ordinary income like wages. Losses exceeding $3,000 can be carried forward to the next tax year.”Greene-Lewis explained that as new, young investors enter the crypto market, awareness around tax-loss harvesting is becoming more critical. According to a Pew Research Center survey cited in TurboTax’s latest tax trend report, 16% of Americans have invested in, traded or used cryptocurrency. Individuals between the ages of 25 and 34 are more likely to have cryptocurrency sales transactions than any other age group. “Many of these individuals are unaware of tax-loss harvesting,” Greene-Lewis said.Percentage of tax filers with cryptocurrency transactions. Source: TurboTaxWhile the last day for tax-loss selling for 2022 passed on Dec. 30, Greene-Lewis reiterated that crypto investors can still perform this action since those losses roll forward. Steven Lubka, vice president of Swan Global Wealth — Swan Bitcoin’s private client services arm — further told Cointelegraph that tax-loss harvesting is a great option for Bitcoin (BTC) investors. “This is probably the most actionable tax strategy. Swan Global Wealth works with private clients to provide valuable market insights, yet most individuals did not know that tax-loss harvesting was an option,” he said.Recent: What crypto hodlers should keep in mind as tax season approachesLubka further pointed out that tax-loss harvesting is beneficial because there is currently no “wash sale rule” applied to crypto, which would prevent the tax break if an investor bought that same asset 30 calendar days before or after the sale. “This means that crypto investors can sell their assets and then instantly buy those back while locking in the loss on their taxes.” While this is certainly advantageous, Lubka believes that this process will likely change in the near future.Donating to charity is another way for crypto investors to reduce their taxable income, which can be a good strategy during a bull market. Alex Wilson, co-founder of The Giving Block — a crypto donation platform — told Cointelegraph that donating cryptocurrency is tax efficient because it allows investors to avoid capital gains tax. He said:“If an investor bought Bitcoin at $1 and sold it at current market prices, that…
  • Top 10 most famous computer programmers of all time News - 1 day ago
    Computer programming has made the impossible possible. Read about the top 10 computer programmers to date. For computer programs and mobile applications, programmers must develop code. In order to keep things working properly, they are also involved in maintaining, debugging and troubleshooting software and systems.Here is a brief overview of the top 10 most famous computer programmers of all time.Alan TuringAlan Turing was a British mathematician and computer scientist who contributed significantly to the growth of artificial intelligence, cryptography and computer science. He helped decipher the Enigma code during World War II and introduced the idea of the Turing Machine, a theoretical representation of a computer.Turing also contributed to the creation of the Manchester Baby, the first stored-program computer and the basis for contemporary computing. He is widely regarded as the father of theoretical computer science and artificial intelligence. Ada LovelaceMany people consider Ada Lovelace, an English mathematician and writer, to be the first ever computer programmer. She understood the creative potential of computing and realized that computers could do more than just crunch numbers, creating the first published algorithm designed to be processed by a machine.Lovelace has motivated countless generations of women to work in the fields of science and technology and is honored today for her contributions to the history of computing.Bill GatesBill Gates is a software developer, businessman and philanthropist most well known for founding Microsoft, the world’s largest personal computer software company. He was crucial to the development of the PC and transformed the computer software market.Under his direction, Microsoft created several successful lines of software, including the well-known Windows operating system, which eventually overtook other PC platforms. In addition, Gates founded the Bill and Melinda Gates Foundation to help improve global health and education.Steve JobsSteve Jobs co-founded Apple and played a crucial role in developing the Macintosh, iPod, iPhone, and iPad. With his ground-breaking innovations and striking design aesthetics, he changed the PC, music and mobile phone sectors as well as popularized the graphical user interface. Jobs was a dynamic, forward-thinking leader who encouraged and motivated his team to develop and introduce successful products.Jobs’ technical know-how and love for design and marketing contributed to Apple’s success as one of the world’s most cutting-edge and prosperous technological businesses. Numerous people acknowledge his influence on technology, and his legacy continues to motivate future generations of entrepreneurs and tech enthusiasts.Linus TorvaldsLinus Torvalds developed the Linux operating system, which is frequently found running servers, supercomputers and mobile devices. He began Linux as a side project, but it has since expanded into an extensive global development collaboration.In addition, he is the principal architect of the Linux kernel, the foundational element of the Linux operating system. Torvalds has won numerous honors for his contributions to the open-source software movement, and Linux has grown to be one of the most significant, well-known software projects in history.Mark ZuckerbergMark Zuckerberg co-founded Facebook, one of the world’s most widely used social networking sites. He played a crucial role in building its infrastructure and turning the startup…
  • Sri Lanka against Bitcoin adoption, rejects Draper’s anti-corruption pitch News - 1 day ago
    Central bank Governor Nandalal Weerasinghe believes that adopting decentralized cryptocurrencies would worsen the country’s economic situation. On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC) as a legal tender to fight against the corruption that contributed to hyperinflation in the island country. However, a key Sri Lankan authority — central bank Governor Nandalal Weerasinghe — believed doing so would worsen the country’s economic situation.Taking time from a TV shoot in Sri Lanka, Draper met President Ranil Wickremesinghe and Weerasinghe to recommend Bitcoin as a viable option for getting out of financial problems. Tim Draper in Sri Lanka speaking about economic development. Source: YouTubeDuring the meeting, Draper pointed out a key concern staring right at Sri Lanka:“Have you seen Sri Lanka in the news? It’s known as the corruption capital. A country known for corruption will be able to keep perfect records with the adoption of Bitcoin.”As he recommended using “decentralized currency” to the head of Sri Lanka’s central bank, he received a short “we don’t accept” reply. Weerasinghe further stated:“Adoption of 100% Bitcoin won’t be a Sri Lanka reality ever.” Instead, Weerasinghe believed that having Sri Lanka’s own fiat currency was critical for monetary-policy independence and would ensure efficient inclusion and disburse electronic welfare payments.“We don’t want to make the crisis worse by introducing Bitcoin,” Weerasinghe concluded.Related: Australia introduces classification for crypto assetsMicroStrategy, a software analytics company co-founded by Michael Saylor, shared plans to continue offering BTC trading services despite incurring an unrealized loss of $1.3 billion in 2022.During a Feb. 2 earnings call, MicroStrategy’s chief financial officer, Andrew Kang, said:“We may consider pursuing additional transactions that may take advantage of the volatility in Bitcoin prices, or other market dislocations that are consistent with our long-term Bitcoin strategy.”According to Kang, MicroStrategy held 132,500 BTC (worth $1.84 billion) as of Dec. 31, 2022. Of the lot, 14,890 BTC were held directly by the business and the rest by its subsidiary MacroStrategy.
  • YouTuber baits MMA fighter into secretly shilling fake NFTs for $1K News - 1 day ago
    Coffeezilla, a YouTuber and crypto investigator, revealed that American mixed martial artist Dillon Danis promoted a fake NFT project without disclosing that he received $1,000 for the advertisement. While the support from numerous A-list celebrities expedited the nonfungible token (NFT) boom of 2021 and 2022, some promoted unvetted projects to fans without knowing if they were legitimate or scams. The practice retains its popularity in 2023 as markets recover.We just tricked Dillon Danis into promoting a fake NFT project. We paid him $1,000 to post, he didn’t disclose it was an #AD, and posted copy that literally spells out S.C.A.M.— Coffeezilla (@coffeebreak_YT) February 3, 2023 In the promotion, Danis tweeted out a digital image with a website URL, which, according to Coffeezilla, “literally spells out S.C.A.M.” A further investigation from Cointelegraph shows that the website was newly created on Feb. 1, 2023 — an important clue to check when checking the credibility of new projects. Moreover, the website FAQ mentions that no investors can get hold of the “Sourz” NFTs, a crucial piece of information overlooked by the MMA fighter.SourzNFT FAQ highlighting that no users can get the NFTs. Source: (CoffeeZilla)A similar incident involving Kim Kardashian was flagged in June 2021 by the United States Securities and Exchange Commission (SEC) when she promoted EthereumMax (EMAX) crypto token to her 330 million Instagram followers. According to the SEC, Kardashian violated the anti-touting provision of the Securities Act by failing to disclose the $250,000 she had received for the promotion.However, Coffeezilla ensured that the users who fell for the scam NFT project were notified immediately. When users click the “Mint Sourz” button (as shown in the above screenshot), they are redirected to a website that cautions against a possible scam.A webpage showcasing crypto projects previously promoted by MMA fighter Dillon Danis. Source: (CoffeeZilla)While Coffeezilla plans to share more information through a follow-up video, the incident is a strong reminder for influencers and investors to do their own research before promoting or investing in a project. Related: FBI seizes $100K in NFTs from scammer following ZachXBT investigationLittle Shapes NFT, a project launched in Nov. 2021, was a “social experiment” designed to shed light on large-scale NFT bot network scams on Twitter, according to pseudonymous founder Atto.Thanks for participating everyone – Little Shapes was a social experiment by @BALLZNFT_ The exposé was real though. Here’s how a ring of influencers and founders drained $200,000,000+ out of the ecosystem over 274 projects: (158 Pages)— Little Shapes NFT (BALLZ) (@LittleShapesNFT) February 1, 2023 “I needed a story that sells to make sure no one would ignore a story that hurts,” explained Atto when explaining his intent behind launching the NFT project.Little Shapes was marketed as an upcoming avatar-style project with 4,444 NFTs that would allow owners to interact and change the artwork in real time.
  • Little Shapes was a ‘social experiment’ to expose NFT botnets: founder News - 1 day ago
    In a 158-page document, the team behind Little Shapes alleged that NFT scammers utilized bot networks to rug-pull “$200 million+ out of the ecosystem.” Atto, the pseudonymous founder behind Little Shapes NFT, has revealed that the project was actually a “social experiment” designed to shed light on large-scale nonfungible token (NFT) bot network scams on Twitter.Since late December 2022, Little Shapes has been attracting much attention from the media and crypto community. This is due to several semi-viral tweets detailing incidents in the founder’s life that seemed too good to be true.Examples included waking up from a five-month coma, finding out he had assets locked on FTX, telling his wife and then finding out she was cheating on him with other people in the NFT industry. Hey Little Shapes fam, this might sound crazy but I got into a car accident 5 months ago and just got out of a huge coma. I don’t know what’s been going on since then but we’re coming back harder than ever. You’re only on the start, of the Little Shapes journey— Little Shapes NFT (BALLZ) (@LittleShapesNFT) December 28, 2022 In a Feb. 2 Twitter thread, however, the Little Shapes NFT account stated to its 30,800 followers: “thanks for participating everyone — Little Shapes was a social experiment by @BALLZNFT” and shared a link to a 158-page document.“The exposé was real, though. Here’s how a ring of influencers and founders drained $200 million+ out of the ecosystem over 274 projects,” Little Shapes NFT wrote, adding that: “Over the past year, NFT Twitter has been manipulated and controlled mostly by a singular Twitter botnet. It showed up mostly in February 2022, and then was used in conjunction with a network of influencers and alpha groups to sell out projects.”The document itself is titled “The insider NFT bot network that’s been controlling the market behind the scenes.” It alleges that, since February 2022, a large number of low-level NFT projects have deployed bot networks to artificially build hype and legitimacy, all in a bid to rug-pull investors. What would happen is a project would come up seemingly out of nowhere, like @MindblowonNFT or @BBRCOfficial, all these influencers would host collab giveaways on Twitter – they would bot it to shit, you’d see the botted numbers and think the project has hype, you mint.— Little Shapes NFT (BALLZ) (@LittleShapesNFT) February 1, 2023 Speaking with BuzzFeed News on Feb. 2, Atto, also the founder of BALLZNFT, described Little Shapes as “performance art” and stressed that “people don’t pay attention unless you give them a reason to.” “I needed a story that sells to make sure no one would ignore a story that hurts,” he said. The document points to bot networks, such as “Dmister,” that sell social media engagement as a key avenue for NFTs projects and only charges around $100 per 1,000 likes, retweets and replies. Ask why this has 120K replies and 20K likes. It’s deeper than just bots. It’s the same private botnet over 274+…
  • The world must take a ‘collective action’ approach to regulations — India’s finance minister News - 1 day ago
    Nirmala Sitharaman hopes that finance ministers and central bank governors can agree on crypto regulations at the G20 meeting in Bengaluru later this month. In a recent television interview, India’s Finance Minister, Nirmala Sitharaman, suggested that regulation “cannot be done” by a single country; it requires an international effort.Speaking to Rahul Joshi on CNBC-TV18 in India on Feb. 3, Sitharaman noted that while the central bank is the “authority for issuing cryptocurrency,” the rest of the digital assets created outside are “using very useful financial technologies.”Sitharaman said that India is looking at a “global” standard operating procedure to be “agreed upon” for regulating crypto assets, ahead of hosting the G20 finance ministers and central bank governors meeting in Bengaluru later this month.She suggested that for crypto regulations to be effective it requires global consensus. She noted:“Regulation cannot be done by any one country singularly, it has to be a collective action because technology doesn’t group any borders.”Related: India cooperates with IMF on crypto consultation paperThis comes after the news that Sitharaman didn’t mention any changes to income tax laws in relation to crypto, central bank digital currency or blockchain technology in the union budget on Feb. 1.There have been numerous developments in crypto regulations by various countries within the G20.Most recently, the Australian government released a token mapping consultation paper on Feb. 3, ahead of their plans to release a licensing and custody framework in mid-2023.During a speech in Paris on Jan. 5, the Governor of the Bank of France, Francois Villeroy de Galhau, stated that France shouldn’t wait on European Union crypto laws but instead take action on licensing “as soon as possible.”Brazil and Argentina are having their own discussions about creating a common digital currency together in an effort to reduce dependance on the U.S. dollar.Meanwhile, Huang Yiping, a former member of the Monetary Policy Committee at the People’s Bank of China, believes that the Chinese government should reconsider its ban on cryptocurrency trading, suggesting it may not be sustainable in the long run.
  • Protocol Labs, Chainalysis and Bittrex add to crypto layoff season News - 1 day ago
    Crypto execs suggested that the “extremely challenging” times forced them to cut jobs to “weather this extended” crypto winter. Several crypto firms have made job cuts this week amid the ongoing crypto winter, retaining “impactful” employees as they prepare for a “longer downturn.”At least 216 jobs were slashed between three crypto firms — open-source software laboratory Protocol Labs, blockchain data firm Chainalysis and cryptocurrency exchange Bittrex, with reductions of 89, 83 and 44 employees respectively.Juan Benet, CEO of Protocol Labs, the company that launched Filecoin (FIL), announced the job cuts in a blog post on Feb. 3, stating that the company has had to focus its headcount “against the most impactful and business-critical efforts.”He stated that the company decided to cut “89 roles,” approximately 21% of its workforce, to ensure it is well positioned to “weather this extended winter.”Benet suggested that the company must “prepare for a longer downturn,” given it has been an “extremely challenging” time for the crypto industry.Meanwhile, Bittrex employees were informed by CEO Richie Lai over email on Feb. 1 that the reduction to its workforce is to “ensure the long-term viability” of the company.The email was leaked via Twitter on Feb. 2. Lai stated that despite the leadership team “working aggressively” to reduce expenses and increase efficiencies over the last several months, the efforts have not produced the “results necessary.“Lai added that the market conditions have forced the company to reset its strategy and balance its “investments with the new economic environment.”According to Washington State employment data on Feb. 2 it was revealed that Bittrex cut 83 jobs.Related: Crypto recruitment execs reveal the safest jobs amid layoff seasonMaddie Kennedy, director of communications at Chainalysis, told Forbes on Feb. 1 that those “primarily in sales” at the company were let go, as 44 of its 900 employees, approximately 4.8% of the workforce, were slashed.These layoffs come after news that at least 2,900 staff were cut across 14 crypto firms in January.Coinbase had the largest layoffs amongst those firms, cutting 950 of its staff on Jan. 10.Meanwhile, competitor exchanges, Luno and Huobi had reductions of approximately 500, 330 and 320 staff, respectively.Cointelegraph reached out for comment from Protocol Labs, Chainalysis and Bittrex but did not receive a response by publication.
  • FBI seizes $100K in NFTs from scammer following ZachXBT investigation News - 1 day ago
    The seized property included a Bored Ape Yacht Club and Doodles NFT, 85.6 Ether and a flashy Audemars Piguet watch which ultimately helped ZachXBT identify the alleged scammer. The Federal Bureau of Investigation (FBI) has seized 86.5 Ether (ETH) an two nonfungible tokens (NFTs) worth more than $100,000 from a reported phishing scammer. The alleged scammer in question, Chase Senecal — known as Horror (HZ) online — was initially exposed via a lengthy investigation by independent blockchain sleuth ZachXBT posted back in September 2022. The FBI’s official notification on Feb. 3 outlined that Seneca’s property — including an Audemars Piguet royal oak watch worth $41,000 — was “seized for federal forfeiture for violation of federal law.”The FBI’s notification did not detail much other information on the ordeal apart from noting that all of the property was seized on Oct. 24, 2022. The seized NFTs included Bored Ape Yacht Club#9658 and Doodle #3114, valued at $95,495 and $9,361 respectively, at the time of seizure. The 86.5 ETH was valued at $116,433 at the time of seizure but is now worth $144,000.It is unclear what the full scope of legal proceedings that have taken place against Senecal are at this stage. However, according to the FBI’s law enforcement bulletin, federal forfeiture is a law enforcement tool that enables the government to “remove—without compensation for the individual—ownership of property involved in a crime.”“It may occur in a civil procedure, like a lawsuit against the item, or after the conviction of an individual in a criminal trial,” the FBI states. While the FBI has not come out with an official tip of the hat to ZachXBT, the on-chain sleuth noted via Twitter on Feb. 3 that the property seizure did “come as a result” of his investigation. 2/ HZ was responsible for using a Twitter panel to take over accounts like @Zeneca @nounsdao @ezu_xyz @deekaymotion @JRNYclub as well as Discord server attacks @AnataNFT @Lacoste The thread which started it all I’ve attached below.— ZachXBT (@zachxbt) February 3, 2023 “I look forward to hopefully seeing more phishing scammers suffer a similar fate in the future for harming so many people in this space,” ZachXBT wrote. With the seizure of a Bored Ape NFT, people in the community have joked that the FBI will change its profile picture to Ape #9658. Photoshopped FBI profile pic: @CryptoWithNick on TwitterNotably, the flashy watch was one of the key identifiers that helped ZachXBT unmask Senecal’s identity and on-chain activity during the investigation. Related: Logan Paul and CryptoZoo hit with lawsuit as investors take action In a medium post from Sept. 2, 2022, ZachXBT explained that after seeing HZ brag about the new watch on social media, he asked “around a few mutual friends who sell watches” and eventually managed to get in contact with the person who sold that specific AP watch to Senecal. Unfortunately for Senecal, the payment was said to have been made on the blockchain via the use of USD Coin (USDC). “The address HZ…
  • The IBM–Maersk blockchain effort was doomed to fail from the start News - 1 day ago
    Observers can learn a few things from the failed effort by IBM and Moller-Maersk to develop TradeLens, a blockchain-enabled global trading platform. Blockchain projects continue to experience failure rates in excess of 90%, and it seems that with every passing moment, more and more “successful” companies add their underperforming blockchain project to the graveyard. One of the most recent blockchain failure victims was Moller-Maersk, which recently announced the termination of its highly publicized TradeLens offering — a global trade platform built on IBM blockchain technology. These failures, however, were totally predictable and, in many cases, would be avoidable if companies more closely observed certain lessons in innovation diffusion.Lesson 1: Innovation is not monolithic. One of the biggest mistakes companies make is to treat innovation as a monolithic concept. Innovation is anything but monolithic. Unfortunately, business associations, business media and business schools love to create an endless parade of innovation lists and innovation awards that reinforce the idea that all innovation is the same.Clayton Christensen’s New York Times best-selling book, The Innovator’s Dilemma, was one of the first major attempts to distinguish innovation types. His work was helpful in starting the conversation, but a better framework for categorizing innovation comes from Rebecca Henderson and Kim Clark, who identified four types of innovation: incremental, modular, architectural and radical.Related: From Bernie Madoff to Bankman-Fried, Bitcoin maximalists have been validatedWhile there are innovations that may fit in the modular and architectural category, blockchain is, at its core, disruptive. Given that disruptive technologies replace existing frameworks, interactions and intermediate institutions, the most successful early applications and innovations will come from smaller/startup firms rather than IBM, Maersk or other Fortune 100 companies.Lesson 2: Complexity is an innovation killer. This is especially true for modular and radical innovation. Everett Rogers noted the inverse relationship between complexity and the willingness and ability to adopt an innovation. This complexity not only relates to the blockchain application itself but also to internal decision-making processes, the level of change required to adopt and how much new knowledge is needed to implement.Details of IBM-Maersk’s canceled plan to build a blockchain platform. Source: IBM-MaerskExperts have outlined the difficulty of implementing projects like TradeLens, as “the technology is complex, requires more computing power and is more expensive to run than existing databases.” Adding to the complexity of the IBM–Maersk blockchain shipment project was the highly complex nature of the two large multinational corporations.In the last round of major technological innovation — namely, the social media space — it was not the established players that built the tools, technology, platforms, etc., that drove early innovation and adoption. It was startups — organizations where decision-making cycles were short, minimal internal change was required to adapt, and new knowledge could be assimilated almost instantaneously.Given these dynamics, initial successful innovative breakthroughs for blockchain are more likely to be found in simplistic applications developed by much smaller, more entrepreneurial firms that replace or reshape simple processes around how work gets done, products get made, or transactions are facilitated between two parties.Lesson…
  • Sam Bankman-Fried’s holding company files for bankruptcy News - 1 day ago
    Emergent Fidelity Technologies filed for Chapter 11 in U.S. Bankruptcy Court for the District of Delaware to pursue a “form of joint administration” between its case and FTX’s. Emergent Fidelity Technologies, a Sam Bankman-Fried holding company based in Antigua and Barbuda, has filed for bankruptcy protection.According to court records filed on Feb. 3, Emergent Fidelity Technologies submitted a voluntary petition to declare bankruptcy under a Chapter 11 filing in the United States Bankruptcy Court for the District of Delaware. The company was already the target of a lawsuit filed by crypto lending firm BlockFi in November 2022 regarding the status of roughly 55 million shares of Robinhood. The Robinhood shares — worth more than $590 million at the time of publication — have been a point of contention among parties, including BlockFi, FTX creditor Yonathan Ben Shimon and Bankman-Fried himself. The United States Department of Justice (DOJ) announced on Jan. 6 that it had seized the shares and roughly $20 million in U.S. dollars as part of the case against FTX and its executives.Emergent Fidelity Technologies claimed ownership of the shares and the $20 million as its “only known assets,” previously held by brokerage firm Marex Capital Markets before the DOJ seizure. According to a declaration by Angela Barkhouse, one of the joint provisional liquidators in the case, Emergent Fidelity Technologies filed for Chapter 11 in the same court as FTX to pursue a “form of joint administration” between the two bankruptcies.“The [joint provisional liquidators’] duties are to the debtor’s creditors, whoever those creditors may be,” said Barkhouse. “Given the many parties claiming to be creditors or outright owners of the [Robinhood shares] in proceedings in the U.S., the JPLs believe that Chapter 11 protection is the only practical way to empower the debtor to defend itself, the assets, and its creditors’ interests in the U.S.”Related: FTX customers warned of scammers baiting them with return of assetsAccording to Barkhouse, Bankman-Fried owns 90% of the firm, with FTX co-founder Gary Wang owning the remaining 10%. Bankman-Fried’s criminal trial is scheduled to begin in October, while Wang has already pled guilty to fraud charges.
  • Overstock-funded tZERO Crypto exchange will shut down March 6 News - 2 days ago
    Once a highly touted exchange, tZERO facilitates securities offerings, some of which are blockchain tokens. The tZERO Crypto exchange, whose majority owner is Overstock, will shut down on March 6, the company announced via Twitter on Feb. 3. The company says that it will continue to focus on its regulated securities products after the shutdown as the United States Securities and Exchange Commission (SEC) and other regulators clarify the legal status of crypto assets.Today, tZERO Crypto informed its customers that it will be ceasing operations on March 6, following an orderly withdrawal of assets by the customers, which continue to be held by the custodian. 1/7— tZERO (@tZERO) February 3, 2023 Headquartered in New York, tZERO is a financial technology company that facilitates securities offerings for private companies that want to go public. In the crypto community, tZERO is most well known for offering tokenized shares or “digital securities,” which can be traded on a blockchain.Online retailer Overstock owns approximately 55% of tZERO, according to the company’s Aug. 26, 2022, press release.In 2019, tZERO launched a traditional crypto exchange called “tZERO Crypto” that allowed users to buy, sell and hold Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and other cryptocurrencies. However, in the announcement on Feb. 3, the company confirmed it would wind down the exchange on March 6.In the announcement, tZERO implied that unregulated crypto exchanges are on their way into obsolescence, stating: “We believe that many digital assets would be treated as securities and trade in a regulated ecosystem.” The announcement explained further:“While the regulatory environment around crypto assets is clarified by the SEC and other regulators (including in view of recent events), we will continue to focus on our unique regulated securities business, which we believe will be the venue where most digital asset securities will trade.”Related: Australia introduces crypto assets classification schemeThe company said that the shutdown was set for March 6 to allow for an “orderly withdrawal of assets by the customers, which continue to be held by the custodian.” It did not clarify whether security tokens being traded on the tZERO ATS stock exchange will also be affected by the shutdown of tZERO Crypto. Cointelegraph reached out to tZERO ATS to clarify this point but could not get a response by the time of publication.
  • CFTC head looks to new Congress for action on crypto regulation News - 2 days ago
    “I will continue to engage and provide technical assistance to draft legislation, as requested,” said Rostin Behnam. Rostin Behnam, chairman of the United States Commodity Futures Trading Commission (CFTC), has said he will continue efforts for the agency to regulate non-security tokens.In remarks released for a Feb. 3 American Bar Association event, Behnam pointed to “bankruptcies, failures and runs” as part of the justification for the U.S. Congress to give the CFTC the authority to address regulation for cryptocurrencies. According to Benham, the commission was “well positioned” to address regulatory gaps but deferred to U.S. lawmakers to pull the trigger on legislation.“Regulation is necessary to protect customers and to prevent failures which cannot predictably be contained within any boundaries across the domestic and global financial markets,” said Behnam. “Regardless of whether one or many occur in 2023 or 2033, we must act. There is a new Congress, and I will continue to engage and provide technical assistance to draft legislation, as requested.”Today @CFTCbehnam will deliver a keynote address at the ABA Business Law Section Derivatives & Futures Law Committee Winter Meeting. Read it as prepared here:— CFTC (@CFTC) February 3, 2023 According to the CFTC chairman, budget increases for the commission would also help grow its enforcement team, which has brought 69 crypto-related actions to date — a list that includes FTX, Ooki DAO and others. Behnam said the team was “working toward another strong year of precedent-setting cases” against fraudulent or illegal digital asset projects.Related: CFTC slammed for ‘blatant regulation by enforcement’ over Ooki DAO caseThough the political makeup of the 118th Congress differs slightly from that of its predecessor, it’s unclear if the CFTC will be given additional authority under Behnam. One of the pieces of legislation lawmakers may revisit is the Lummis-Gillibrand Responsible Financial Innovation Act — a bill first introduced in June 2022 aimed at addressing the roles of the CFTC and Securities and Exchange Commission on crypto regulation.
  • DeFi enjoys a prolific start to 2023: Finance Redefined News - 2 days ago
    DeFi marks a perfect entry into 2023 with a bullish January and TVL nearing $50 billion. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.2023 started on a bullish note for the entire crypto market, including the DeFi ecosystem, with most of the tokens posting double-digit gains in January and recording multi-month highs. Aside from the bull rally, January also saw a 93% year-on-year decline in losses from DeFi exploits and hacks.The slew of regulatory action against the Mango Markets exploiter is being hailed as a big win for the DeFi sector. The United States Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have taken action against the alleged fraudster, which shows that DeFi is becoming a “safer and more welcoming environment,” according to credit rating firm Moody’s.Amid all the positive developments, Solana DeFi protocol Everlend shut down over liquidity issues stemming from the FTX crisis and told users to withdraw funds. North Korean hackers also tried laundering $27 million in Ether (ETH) from the Harmony bridge attack.The bullish momentum of the top 100 DeFi tokens continued into February as the total value locked (TVL) in DeFi protocols reached nearly $50 billion, with most tokens registering another weekly price surge.DeFi enjoys prolific start to 2023: DappRadarDeFi protocols experienced a boom in TVL across different staking pools in January. The market hit $74.6 billion worth of staked assets, increasing by 26% from December.In its latest monthly report, DappRadar outlined the growth of the DeFi sector alongside rejuvenated nonfungible token (NFT) markets, which have also had upticks in trading volume and sales.Continue readingCrypto exploit losses in January see nearly 93% year-on-year declineAside from the bullish crypto market rally in January, there’s been more positive industry news as the month saw a steep decline in losses from exploits compared to January 2022.According to data from blockchain security firm, PeckShield, as of Jan. 31, there were $8.8 million in losses from crypto exploits. There were 24 exploits over the month, with $2.6 million worth of crypto sent to mixers such as Tornado Cash. The breakdown of assets sent to mixers includes 1,200 ETH and approximately 2,668 BNB.Continue readingRegulatory action against Mango Markets exploiter is a win for DeFi — Moody’sRecent charges brought against Mango Markets exploiter Avraham Eisenberg will positively impact the DeFi space, according to credit rating firm Moody’s. In a Jan. 31 note from Moody’s Investor Service, the assistant vice president of decentralized finance, Cristiano Ventricelli, stated that enforcement actions brought by the two leading U.S. market regulators in January mean that DeFi is moving toward a “safer and more welcoming environment.”Continue reading Solana DeFi protocol Everlend shuts down over liquidity issuesSolana DeFi protocol Everlend is closing down its operations and urging clients to withdraw funds from the platform.The company announced the decision on Twitter on Feb. 1, saying that despite having “enough runway” to continue operating, it would be a gamble…
  • Are Cosmos’ ecosystem growth and roadmap enough to sustain ATOM’s current 50% monthly rally? News - 2 days ago
    ATOM gained 50% in January, and while the broader crypto market could remain bullish for some time, does the Cosmos ecosystem have strong enough fundamentals to support further upside? In September 2022, Interchain Foundation, the team behind the development of Cosmos, introduced the Cosmos ATOM 2.0 white paper. The document proposed significant changes to Cosmos’s design, including a tokenomics upgrade to fund ecosystem development and reduce Cosmos (ATOM) inflation.While the white paper launch acted as a bullish catalyst for ATOM’s price, the community vote to pass the proposal eventually failed, primarily because of its enormity. Some community members wanted to take a measured approach to each development feature listed in the white paper, starting with interchain security in Q1 2023.Interchain security will enhance the value accrual position of ATOM as a modular chain. New blockchains will be able to borrow the security from it and pay Cosmos hub validators. Despite the rejection of the Cosmos 2.0 white paper, the team continues to work on the upgrades mentioned in it. The other improvements in tokenomics will be introduced as a separate proposal to the Cosmos community.The first week of February witnessed a technical bullish breakout in ATOM’s price. If buyers continue to accumulate, there’s a solid chance of a short-to-medium trade rally.Interchain Security to bring more value to ATOM stakersThe interchain security implementation remains the most crucial breakthrough in accruing value to ATOM holders. The feature will allow independent blockchains, called consumer chains in the Cosmos ecosystem, to rent security from the validators of the Cosmos hub. Existing Cosmos SDK-based blockchains can choose to be consumer chains too. This will bring additional staking rewards for ATOM holders.The Cosmos team concluded its developer’s “Game of Chains” campaign to test consumer chains before rolling out the mainnet version of interchain security. They will implement this feature in Cosmos’s lambda upgrade (v9) sometime in February.Number of blockchains that are part of IBC. Source: Interchain FoundationDevelopment of Cosmos ecosystem and IBC expansionOne of the most prominent developments will be the introduction of Circle (USDC) on Cosmos. The stablecoin will enhance the liquidity of Cosmos’s decentralized finance ecosystem. The Cosmos SDK is used to construct many popular blockchain and cryptocurrency projects, such as Binance DEX, Kava and more recently, dYdX. Until now, ATOM didn’t accrue any value from this implementation. However, this will change with interchain security and other developments with cross-chain implementation.The Inter Blockchain Communication (IBC), which enables interoperability between Cosmos-based blockchains, showcased impressive growth in 2022. Moving forward, the project’s team will implement the interchain scheduler, providing an open and transparent maximal extractable value (MEV) marketplace for cross-chain transactions. It will look to standardize ATOM as the default gas token for IBC transfers, though the fees can be paid in multiple tokens.Number of blockchains that are part of IBC. Source: Interchain FoundationIn the future, the IBC will help the Cosmos ecosystem expand to other blockchains, such as Ethereum, Near and Polkadot, improving liquidity and traffic with it. The change in ATOM’s tokenomics with interchain allocator to…
  • Kazakhstan’s digital currency in pilot stage, per Binance, National Bank joint report News - 2 days ago
    The Central Asian country’s CBDC project is right on time, according to a 2020 roadmap, as consumers and merchants use the currency in a controlled environment. The National Bank of Kazakhstan (NBK) has launched a digital tenge pilot project, according to a report published jointly by the bank and Binance on Feb. 3. The report looked at global approaches to digital asset regulation, the digital asset industry and decentralized finance (DeFi) in Central Asia and the Commonwealth of Independent States in particular. In his introduction to the report, NBK Deputy governor Berik Sholpankupov wrote about the bank’s vision of a “collaboration between Traditional Finance and DeFi” that could increase financial inclusion and support international trade. He added:“In Kazakhstan, we also started a practical R&D project to explore how our CBDC – Digital Tenge, can bridge the world of crypto with traditional fiat payments infrastructure.”Sholpankupov’s statement confirmed that the NBK is on time with plans set out in its official roadmap. Kazakhstan announced its digital tenge project in 2020. The project is set to run through the end of 2025. The report also stated: “A Digital Tenge CDBC initiative […] Is already in a pilot phase using the controlled environment, real consumers and merchants. Currently, BNB Chain and NBK are testing CBDC integration with the [BNB] public decentralised blockchain to bridge the gap even further between traditional banking and crypto ecosystem.”Kazakhstan’s Astana Financial Services Authority (AFSA) granted Binance a permanent license to manage a digital asset platform and provide custody services in October 2022. Later that month, the NBK said in 2022 that it would integrate its CBDC on the Binance BNB chain. Related: Binance signs MoU with Kazakhstan to fight financial crimeOn Jan. 27, the ASFA published a consultation paper examining the shortcomings of the Astana International Financial Centre’s Digital Asset Trading Facility (DATF) regulatory framework, which was developed in 2018. That report suggested additional risk mitigation measures and potential changes to the regulatory framework. Kazakhstan is one of the world’s largest Bitcoin (BTC) miners.Alongside the National Bank of Kazakhstan, #Binance presented a bilateral report on the “State of the Digital Assets Industry and DeFi in Central Asia”.The joint report provides an overview of crypto adoption, general trends of DeFi, and the local digital assets industry.— Binance (@binance) February 3, 2023
  • Price analysis 2/3: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX News - 2 days ago
    Strong U.S. jobs data for January could not pull Bitcoin and select altcoins lower, indicating a strong bullish undercurrent. Bitcoin’s (BTC) rally in 2023 has been boosted by expectations that the United States Federal Reserve will slow down the pace of its rate hikes as inflation has started cooling down. Some even anticipate a rate cut by the end of the year. That assumption received a jolt on Feb.3 when the U.S. employment data for January beat expectations and unemployment hit its lowest level since May 1969.If markets do not react negatively to news perceived as bearish, it’s a sign that the sentiment has turned positive. Traders may then shift their focus to the next important economic data release. Trading firm QCP Capital said in its latest market update that the Consumer Price Index print on Feb. 14 could move markets. They believe the risks to the data are to the upside.Daily cryptocurrency market performance. Source: Coin360The current crypto bear market seems to have driven the institutional investors to the sidelines. According to a new survey conducted by JPMorgan, 72% of institutional traders said they do not plan to “trade crypto/digital coins” in 2023. Only 14% of the respondents showed an inclination to trade this year.Will Bitcoin and altcoins witness profit booking in the near term? Let’s study the charts of the top-10 cryptocurrencies to find out.BTC/USDTBitcoin bounced off the $22,800 support on Feb. 1, indicating that bulls are buying the dips to this level. The bulls pushed the price above $24,000 on Feb. 2 but they could not sustain the higher levels. BTC/USDT daily chart. Source: TradingViewThe rising moving averages and the relative strength (RSI) in the overbought zone indicate that the path of least resistance is to the upside. If the price turns up from the current level or $22,800, the BTC/USDT pair could surge to $25,000. This level is likely to act as a formidable barrier.The first sign of weakness will be a break and close below the 20-day exponential moving average ($22,279). That could trigger the stops of several short-term traders and the pair could then fall to $21,480.ETH/USDTBuyers propelled Ether (ETH) above the overhead resistance of $1,680 on Feb. 2 but they could not sustain the breakout. The price gave up all the gains on the day and closed below $1,680.ETH/USDT daily chart. Source: TradingViewThe upsloping 20-day EMA ($1,571) and the RSI in the positive territory indicate that bulls are in control. They may again attempt to overcome the overhead barrier at $1,680 and start the journey to $2,000. The $1,800 level may provide some resistance but it is likely to be crossed.If bears want to gain the upper hand, they will have to sell aggressively and yank the price back below the 20-day EMA. If they can pull it off, the ETH/USDT pair may decline to $1,500 and if this support cracks, the pullback could eventually reach $1,352.BNB/USDTBNB’s (BNB) tight-range trading between the 20-day EMA ($306) and the overhead resistance at $318 resolved to…
  • Bitcoin Will Likely Witness A Bumpy Ride Next Week! On-Chain Metrics Suggest Short-Term Suffering For BTC Price
    Coinpedia Fintech News - 10 hours ago
    The post Bitcoin Will Likely Witness A Bumpy Ride Next Week! On-Chain Metrics Suggest Short-Term Suffering For BTC Price appeared first on Coinpedia Fintech News The crypto market has been on a roll lately as major cryptocurrencies like Bitcoin have witnessed significant price swings in the last few days. The Bitcoin price trend has been stuck in a choppy range as it swings sideways with 1% volatility, creating a blurred vision for long-term holders. The primary reason behind this intense …
  • These Altcoins Are Best Bets For Coming Week! Here’s What Traders Need To Watch Out
    Coinpedia Fintech News - 10 hours ago
    The post These Altcoins Are Best Bets For Coming Week! Here’s What Traders Need To Watch Out appeared first on Coinpedia Fintech News The 25-bps interest rate hike with a solid report on job growth in the US economy has delivered a shockwave to the crypto market. While leading assets like Bitcoin and Ethereum prices are hovering near an uncertain price point, the altcoin market is performing relatively well and fulfilling investors’ bullish expectations. Moreover, the developing teams …
  • Here Are the Top Reasons Why Whales Are Stacking XRP
    Coinpedia Fintech News - 10 hours ago
    The post Here Are the Top Reasons Why Whales Are Stacking XRP appeared first on Coinpedia Fintech News The bitcoin market is showing signs of profitability in 2023. For the first time in the past year, the total value of the cryptocurrency market has surpassed $1 trillion. Many people are speculating about the potential implications of the outcome of the legal dispute between Ripple and the SEC for the future of XRP and …
  • Bitcoin (BTC) Price to Surge 8x If This Scenario Plays Out – Here’s How and When
    Coinpedia Fintech News - 19 hours ago
    The post Bitcoin (BTC) Price to Surge 8x If This Scenario Plays Out – Here’s How and When appeared first on Coinpedia Fintech News A three-year low was reached in the market when FTX crashed, wiping away billions in client deposits. As a result of the FTX fiasco, Bitcoin fell to $15,500 and appeared to be headed considerably lower. Bitcoin has since recovered and posted considerable returns and is now hovering near the $23k mark.   However, the market appears …
  • BTC Price Forecast: Analyst Maps Potential High Levels For Bitcoin This Bull Market
    Coinpedia Fintech News - 19 hours ago
    The post BTC Price Forecast: Analyst Maps Potential High Levels For Bitcoin This Bull Market appeared first on Coinpedia Fintech News The cryptocurrency market is experiencing an upturn in fortunes as Bitcoin continues to experience a positive increase overall. In 2022, Bitcoin saw an extended downward trend that led to a 60% reduction in its price, and the collapse of FTX in November significantly lowered market sentiments, and there were massive withdrawals.  However, Bitcoin is now …
  • XRP Price Set to Soar: Analyst Reveals When And How XRP Will Break the $1 Barrier
    Coinpedia Fintech News - 19 hours ago
    The post XRP Price Set to Soar: Analyst Reveals When And How XRP Will Break the $1 Barrier appeared first on Coinpedia Fintech News Ripple’s XRP followed the larger crypto market in the red this morning after a positive Friday session. As there were no new developments in the SEC v. Ripple case to offer guidance, XRP was left in the hands of the broader crypto market. According to expert Egrag Crypto, XRP might soar to a high of …
  • John Deaton Rejects XRP Buyback Plan – Find Out Why!
    Coinpedia Fintech News - 19 hours ago
    The post John Deaton Rejects XRP Buyback Plan – Find Out Why! appeared first on Coinpedia Fintech News A renowned attorney, John E. Deaton, has taken to Twitter to clarify his stance on Jimmy Vallee’s XRP buyback proposal. The proposed terms of the XRP buyback mentioned making a payment to the attorney for his role in the US Securities and Exchange Commission (SEC) case against Ripple; however, Deaton asserts that he has no …
  • Bitcoin And Ethereum May Awaken Bears If Fail To Hold This Level! Here’s Where BTC And ETH Price Are Heading This Weekend
    Coinpedia Fintech News - 1 day ago
    The post Bitcoin And Ethereum May Awaken Bears If Fail To Hold This Level! Here’s Where BTC And ETH Price Are Heading This Weekend appeared first on Coinpedia Fintech News As the crypto market brings a worrying situation by trading on the verge of a flip price range, investors are keeping a close eye on leading assets: Bitcoin and Ethereum. With the weekend approaching at a fast pace, several analysts are wondering if BTC and ETH prices will be able to make a bullish comeback …
  • Morgan Creek CEO Predicts Early Start To Bitcoin’s Bull Run; Here’s Why
    Coinpedia Fintech News - 1 day ago
    The post Morgan Creek CEO Predicts Early Start To Bitcoin’s Bull Run; Here’s Why appeared first on Coinpedia Fintech News The year 2023 has started off relatively well for the cryptocurrency industry. The market appears to be recovering from the unprecedented FTX collapse, with major token prices beginning to rise. BTC, one of the major tokens, is now worth $23,335; significantly higher than $16,547, which was its price at the end of 2022. The community …
  • Bitcoin Bulls On Fire: Analyst Predicts Massive Price Pump Before July
    Coinpedia Fintech News - 1 day ago
    The post Bitcoin Bulls On Fire: Analyst Predicts Massive Price Pump Before July appeared first on Coinpedia Fintech News In the last few weeks, it has been made evident that the Bitcoin bulls are aiming to seize complete control of the market; nevertheless, we have not yet seen a particularly significant pump, and industry professionals continue to compare the year’s performance to that of 2019. 150% Pump Before July? George Tung, an expert in …
  • Cardano Whales Quietly Fueling 65% ADA Rally This Year, According to Blockchain Analytics Firm Santiment
    The Daily Hodl - 6 hours ago
    Blockchain analytics firm Santiment says that massive holders Cardano (ADA) are driving up the price of the eighth-largest crypto asset by market cap.  From trading at around $0.246 on January 1st to $0.412 last week, Santiment says the increase is primarily due to the heavy accumulation of deep-pocketed Cardano investors to the tune of 405.85 […] The post Cardano Whales Quietly Fueling 65% ADA Rally This Year, According to Blockchain Analytics Firm Santiment appeared first on The Daily Hodl.
  • Crypto Gaming Project Skyrockets Nearly 300% in a Month As Team Announces Series of Updates
    The Daily Hodl - 8 hours ago
    An up-and-coming crypto gaming project has pulled off an incredible 300% rally in the past 30 days as digital asset markets continue to show strength following the crack of 2023. WEMIX (WEMIX) is a platform that supports blockchain-based games for over 378,000 gamers, according to its website. WEMIX’s ecosystem includes at least 20 games at […] The post Crypto Gaming Project Skyrockets Nearly 300% in a Month As Team Announces Series of Updates appeared first on The Daily Hodl.
  • Shiba Inu Whale Abruptly Relocates 1,999,998,709,228 SHIB – Here’s Where the Crypto Is Heading
    The Daily Hodl - 11 hours ago
    A mysterious crypto whale is suddenly shifting trillions of Shiba Inu (SHIB) tokens as the top meme coin witnesses explosive price action over the past day. Blockchain-tracking service Whale Alert reveals that a deep-pocketed entity moved a total of 1,999,998,709,228 SHIB worth $24.20 million from a popular crypto exchange to one unknown wallet in four […] The post Shiba Inu Whale Abruptly Relocates 1,999,998,709,228 SHIB – Here’s Where the Crypto Is Heading appeared first on The Daily Hodl.
  • Billionaire Chamath Palihapitiya Says Markets Are Off to the Races As Fed Capitulates – Here’s His Outlook
    The Daily Hodl - 13 hours ago
    Billionaire Chamath Palihapitiya says the markets are likely to witness more bursts to the upside following the recent comments of Fed Chairman Jerome Powell. In a new All-In Podcast episode, the venture capitalist says that the statements made by Chairman Powell during the Federal Open Market Committee meeting last week indicated that the Federal Reserve […] The post Billionaire Chamath Palihapitiya Says Markets Are Off to the Races As Fed Capitulates – Here’s His Outlook appeared first on The Daily Hodl.
  • Top Trader Issues Warning to Bitcoin and Crypto Bulls – Here’s His New Outlook
    The Daily Hodl - 16 hours ago
    A crypto analyst known for accurately calling Bitcoin’s bottom in 2018 is issuing an alert on BTC’s short-term trajectory. The pseudonyous analyst Smart Contracter says BTC appears ready to retrace, and he’s stepping out of the market. The trader, who is known for using Elliot wave theory as a primary technique, believes BTC could easily […] The post Top Trader Issues Warning to Bitcoin and Crypto Bulls – Here’s His New Outlook appeared first on The Daily Hodl.
  • Bitcoin and Ethereum Whales Move $743,000,000 in Crypto in Three Massive Transfers
    The Daily Hodl - 19 hours ago
    As BTC floats above $23,000, three huge Bitcoin and Ethereum whales are turning heads among crypto traders. In total, the whales moved a staggering $743 million in crypto in just three transactions. A Bitcoin whale made the first move on Friday, sending 13,369 BTC worth $311 million from one unknown wallet to another. The crypto […] The post Bitcoin and Ethereum Whales Move $743,000,000 in Crypto in Three Massive Transfers appeared first on The Daily Hodl.
  • FTX Collapse and Other Crypto Scandals of 2022 Will Benefit Bitcoin (BTC), Says Michael Saylor – Here’s Why
    The Daily Hodl - 22 hours ago
    MicroStrategy founder Michael Saylor says the crypto scandals and bankruptcies of 2022 will benefit Bitcoin (BTC) in the long run. In a new fourth quarter MicroStrategy earnings call, the Bitcoin bull predicts a more rational approach to projects and enterprises in the crypto space in the aftermath of the many failures last year, including the […] The post FTX Collapse and Other Crypto Scandals of 2022 Will Benefit Bitcoin (BTC), Says Michael Saylor – Here’s Why appeared first on The Daily Hodl.
  • NFT Trading Surges to Over $945,000,000 in January Amid Crypto Market Bounce: DappRadar
    The Daily Hodl - 1 day ago
    The trading volume of non-fungible tokens (NFTs) skyrocketed in January as the crypto markets mounted a recovery from a months-long bear market. According to new data from market intelligence platform DappRadar, NFT sales jumped up by 38% on a month-to-month basis to $946 million in January, the highest trading volume recorded since June 2022. It […] The post NFT Trading Surges to Over $945,000,000 in January Amid Crypto Market Bounce: DappRadar appeared first on The Daily Hodl.
  • U.S. Senate Banking Committee Schedules ‘Crypto Crash’ Hearing for February 14th
    The Daily Hodl - 1 day ago
    The U.S. Senate Committee on Banking, Housing, and Urban Affairs is primed to probe last year’s crypto crash on Valentine’s Day. The committee scheduled a hearing for February 14th at 10 a.m. titled “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets,” according to an announcement released by committee chairman Sherrod Brown (D-Ohio) […] The post U.S. Senate Banking Committee Schedules ‘Crypto Crash’ Hearing for February 14th appeared first on The Daily Hodl.
  • Russia’s Largest Bank Plans To Roll Out Ethereum-Compatible DeFi Platform by May: Report
    The Daily Hodl - 1 day ago
    Russia’s largest bank by total assets plans to deploy an Ethereum (ETH)-compatible decentralized finance (DeFi) platform, according to a report from a Russian news agency. Interfax reports that the Russian bank Sberbank aims to launch its new DeFi platform by May. Sberbank is a majority state-owned bank that is home to one-third of all aggregate […] The post Russia’s Largest Bank Plans To Roll Out Ethereum-Compatible DeFi Platform by May: Report appeared first on The Daily Hodl.
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