Cryptocurrency

The community strongly backs stopping TerraClassicUSD (USTC) minting and reminting in favor of burning tokens to restore its US dollar peg.

Coinbase wants the broader US crypto community to seek "clear and sensible" crypto legislation from their congresspersons.

In a recent court filing, a United States law firm that had previously offered services to FTX challenged allegations of assisting Sam Bankman-Fried in his alleged unlawful activities.

The Anti-Money Laundering (AML) registration will allow cryptocurrency exchange Coinbase to offer its services to both retail and institutional investors within Spain.

Customers who connect online services to the NFT marketplace are told to swap out their keys.

Brian Armstrong says passing laws "has unintended consequences and kills competition."

CipherTrace, BlockTrace as well Chainalysis have joined forces with international law enforcement agencies to educate Ukrainian officers on crypto-tracing

A law firm that once provided services to FTX defended itself and attempted to dismiss a class action suit through a legal filing on Sept. 22. The relevant lawsuit began in August. There, customers attempted to argue that Fenwick & West was in part liable for alleged fraudulent activity at FTX. In its current filing, The post FTX’s one-time law firm denies awareness of fraud, moves to dismiss lawsuit appeared first on CryptoSlate.

Over 11,000 soldiers and police have taken back the Tocorón prison in Venezuela, which served as the headquarters of the notorious Tren de Aragua gang.

The Ethereum (ETH) blockchain witnessed a significant reduction in network fees, with users paying a mere $1.15 per transaction, Santiment data shows. The current decline in Ethereum's transaction fees bodes well for the network's utility. 

“The number one challenge is explaining these innovations,” said Kristin Smith.

Binance.US scores temporary win against the SEC, Mt. Gox repayments delayed to 2024, and Tether’s $1B liquidity to Tron network.

Russia leads in modernizing payment infrastructure with the digital ruble, coexisting with traditional cash.

In a recent development, asset manager Bitwise has withdrawn its application to transform its existing Bitcoin futures ETF (Bitwise Bitcoin Strategy Optimum Roll ETF) to one that invests in both Bitcoin and Ethereum futures contracts.  This has raised speculations about the reason for this decision and what it means for the Ethereum futures ETFs projected to launch in October. Why Bitwise Withdrew Its Application Reporting this development on his X (formerly Twitter) platform, Bloomberg Analyst James Seyffart stated that the asset manager has chosen to maintain only its Bitcoin exposure following this move.  Related Reading: Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With Many were more concerned about the reason for this decision. To clarify, Seyffart stated that the Asset manager may have made this decision simply because it doesn’t see the “benefit in having a dual BTC and ETH ETF,” especially considering that their Ethereum futures ETF is expected to launch only a few days after the first one launches.  Seyffart also believes the firm’s Optimum Roll ETF investors may have preferred only exposure to Bitcoin rather than Bitcoin and Ethereum, which prompted the decision.  This development comes after Bitwise had withdrawn its application for its Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF, which it filed with the SEC on August 3. The asset manager had made its decision known in a filing to the SEC dated August 31.  Meanwhile, the filing with the SEC to withdraw its Bitwise Bitcoin and Ether Equal Weight Strategy ETF application is dated September 22. ETH price struggling to reclaim $1,600 | Source: ETHUSD on Tradingview.com What Now For Bitwise And Ethereum Futures ETF It is worth mentioning that Bitwise isn’t backing out of the Ethereum futures ETF race despite these recent developments. The asset manager still has its Bitwise Ethereum Strategy ETF application with the SEC, with the fund seeking to invest in Ethereum futures contracts.  The withdrawals have also not affected Seyffart’s optimism about the launch of several Ethereum futures ETFs in October as he believes there isn’t much meaning to read into the asset manager’s actions than it being “some sort of product decision.” Related Reading: Investment Firm Founder Has An Important Message For Bitcoin Holders He noted that the only time there may be reason for concern is if Valkyrie were to withdraw its application. Like Bitwise, Valkyrie had also applied to the SEC to transform its Bitcoin futures ETF (Valkyrie Bitcoin Strategy ETF) into a fund that invests in both Bitcoin and Ethereum futures contracts.  Barring any denial by the SEC, asset managers like Volatility Shares, VanEck, ProShares, Roundhill, and even Bitwise are expected to launch their Ethereum futures ETF in October.  Based on their respective filing dates, Volatility Shares is set to gain a first-mover advantage, launching on October 12, while others are expected to launch after.  Featured image from Moneycontrol, chart from Tradingview.com

Technology has added a much-needed freshness to London Fashion Week, extending creativity into the boundless digital domain.

Harry Halpin said the UK’s mandate will drive people who require privacy to leave the country.

Also, no rate hike from the Federal Reserves may stem risk-averse crypto outflows.

Bitcoin’s price has recently rebounded from $25K support, but it is currently facing rejection from a key resistance zone. Technical Analysis By Edris The Daily Chart On the daily timeframe, the price has been rising after finding support near $25K. However, the 50-day moving average, around $27K, is pushing the price down. Another significant resistance

This milestone empowers Coinbase to extend its complete range of offerings to both retail and institutional users in Spain and Europe.

The Fed explores asset tokenization's impact on financial stability.

Officials have so far arrested 11 people for questioning, up from six people previously arrested. One of the social media influencers taken into police custody, Joseph Lam Chok, claimed that he was no longer involved in any activity related to JPEX.

Turingum's clients will have the advantage of wielding MarketAcross, a firm that played a pivotal role in the growth of major global blockchain projects.

XRP has maintained its position within the confines of a symmetrical triangle pattern, with today’s modest surge doing little to alter its trajectory. This symmetrical triangle pattern has exerted significant influence over XRP’s price movements for the past month, indicating that it may continue to dictate the coin’s fate in the near future. The symmetrical triangle pattern is a technical analysis chart pattern characterized by converging trendlines, with one representing the coin’s lower highs and the other symbolizing its higher lows.  Related Reading: ImmutableX Makes Noise As IMX Dominates Top 50 Roster With 33% Climb This pattern suggests a period of consolidation and uncertainty in the market, as traders weigh the potential for a breakout in either direction. A Crucial Breakout Looms For XRP  Analysts suggest that a breakout from either side of the symmetrical triangle pattern could set the stage for a significant directional rally in XRP. Should the coin break above the upper trendline, it could potentially surge to a price of $0.55. As of now, XRP is trading at $0.512876, according to CoinGecko. Over the past 24 hours, it has recorded a modest increase of 1%, while its seven-day performance shows a 2.5% increase. Triangle Resistance Continues To Hold The report notes that the recent pullback in XRP marks the third instance where the price has retraced from the triangle’s upper trendline, underscoring the pattern’s dominance over this asset. Daily charts further emphasize this bearish sentiment, revealing an “Evening Star” pattern at the resistance, often seen as a precursor to potential downtrends. If sellers continue to dominate the market, XRP’s price may decline by approximately 6%, potentially pushing it down to the $0.485 level, which would serve as a retest of the triangle’s lower boundary. As long as XRP oscillates within these trendlines, its price is likely to remain range-bound. XRP market cap currently at $27.2 billion. Chart: TradingView.com Awaiting Exciting Developments Meanwhile, the XRP community is eagerly anticipating several exciting developments, including the launch of the Xahau network and the associated Evernode airdrop. The Xahau Ledger, which serves as the proposed Hooks sidechain and smart contract sidechain for the XRPL ecosystem, plays a crucial role in these innovations. In a recent tweet, Evernode, the Layer-2 blockchain behind these innovations, announced that its new website is now live. To safeguard its users against Twitter scammers, Evernode has implemented strict protective measures. New Website: https://t.co/YuFpmwCGbA To mitigate Twitter’s scammers, we’ll: 1. Only tweet links to website articles. 2. Never DM you. 3. Never offer support. Anybody claiming to be our “Help Desk” or “Customer Support” or “Dev Team” is a scammer trying to steal your coins. — Evernode – No Trustline & No Support🪝 (@EvernodeXRPL) September 22, 2023 It will only tweet links to website articles, avoiding direct messages (DMs) to users and refraining from offering support, thus ensuring the safety and security of its community. Related Reading: Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty XRP’s current positioning within the symmetrical triangle pattern suggests that a breakout could be imminent, with both bullish and bearish scenarios on the horizon. As the XRP community eagerly anticipates upcoming developments, maintaining vigilance against potential scams remains paramount for all participants in the cryptocurrency space. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Pexels

Guatemala's Supreme Election Tribunal is using bitcoin timestamping to detect fraud attempts in the country's presidential elections.

PSG’s latest foray into NFTs comes on the back of a recent dappGambl report claiming that nearly 95% of all non-fungible token collections have no value.

In a bold and contentious statement, Caitlin Long has asserted that 99% of the crypto industry should be eliminated to decrease leverage buildup and improve the industry’s future advancement. Industry Overhaul Demanded For Sustainability Caitlin Long, Founder and CEO of Custodia Bank, a crypto asset banking company, has called for a seismic change in the crypto industry and its practices. The CEO emphatically suggested that only 1% of the crypto industry should be allowed to operate while 99% of the industry should be destroyed and the majority of crypto firms in the industry “flushed out.” Related Reading: How An ‘Inconsequential’ Mistake Saw Bitcoin Crash To $8,000 In a heated interview with Bezinga, Long was adamant about her controversial views of the crypto industry, stating that the industry had enormous potential but was being set back significantly by crypto firms operating using highly leveraged trading activities.  Long stated that she had an active discussion with a distinguished individual who shared her views and supported the notion that the majority of the industry needs to be purged for it to thrive. “I had a debate with a prominent person. I said, ‘Look, 90% of this industry still needs to go away, and he said it’s 99%, and I think that’s right. I mean whether it’s 90% or 99%, you see the point, there’s still a bunch of crap that needs to be flushed out,” Long said. Total market cap still holding above $1.03 trillion | Source: Crypto Total Market Cap on Tradingview.com Long Compares Crypto Industry To 1999 Tech Stock Bubble Caitlin Long has likened the current crypto industry to the tech stock bubble in 1999. Notably, the tech stock bubble which coincided with the growth of internet adoption, rose 800% in investments, attracting investors from prominent companies all over the world. After reaching its peak, the stock market crashed by 740%, leaving the majority of investors and companies bankrupt and shut down.  Long compares this stock market crash to the crypto market crash in 2022 which saw Bitcoin falling by about 70% and major altcoins by 80% to 90%, resulting in the bankruptcy of major firms and investors.  She also stated that the crypto industry would not succeed if it continues to amplify trading activities through leverage while allowing unregulated exchanges to operate.  “It is in some ways a repeat of the tech stock bubble of 1999, just so much crap. And it will not succeed, and it needs to be flushed, but markets are flushing it,” Long stated.  Related Reading: Bankrupt FTX Exchange Turns Its Attention To Employees, Here’s How Much It Wants Long suggested that a lack of proper regulations on crypto exchanges is exacerbating the risks and challenges in the crypto space. Additionally, she revealed that she was in support of the US Securities and Exchange Commission’s (SEC) recent crackdown on crypto exchanges in the industry. Nevertheless, the CEO has not proposed a total annihilation of the crypto industry, just a major portion of it. When asked about her views on the Bitcoin cryptocurrency, Long stated, “I don’t really care about the price. It is the least interesting aspect of this technology. I’m more interested in it as a technology.” Featured image from CNBC, chart from Tradingview.com

On Sept. 22, Italian fashion house Gucci had its first runway show under new creative director Sabato de Sarno both in the real world and on three major digital platforms: Zepeto, Roblox, and QQ.

According to Vitalik Buterin, privacy is essential for realizing the decentralization and censorship resistance that are foundational to blockchain networks like Ethereum.

The following is a guest post from Ali Husain, an advisor at Navigate. While Web3 has offered an alternative to the dominance of Big Tech firms in many aspects of the technology sector, it has yet to overcome the duopoly dominance of Google Maps and Apple Maps in the digital mapping market. According to a The post Op-ed: Duopoly in digital mapping – Can web3 be the answer? appeared first on CryptoSlate.

Scaramucci suggests that a spot Bitcoin ETF may be approved as soon as the first quarter of next year. This could spur a bull market into action, he explains.

According to the JPMorgan report, daily transactions on the Ethereum network have experienced a drop of approximately 12% since the upgrade.

Bitcoin (BTC) has experienced little price movement this week and is up by only 0.25% in seven days, according to data from CoinMarketCap. Following the announcement on Wednesday that federal interest rates will remain at their current level, the premier cryptocurrency showed the expected reaction, maintaining its price above $27,000.  However, over the last two days, Bitcoin has witnessed a slight price decline of 2%. As the most-priced blockchain asset now hovers around $26,500, crypto analyst Captain Faibik has predicted an incoming bullish run, which may see BTC close out 2023 with impressive gains.  Related Reading: Coinbase Holds $25 Billion Worth Of Bitcoin, Becomes Largest Holder With 1M BTC Analyst Says Bitcoin Is Poised For 30% Gain Soon On Saturday, Captain Faibik shared on X (formerly Twitter) with his 65,000 followers a Bitcoin price forecast. Using data from Tradingview, the analyst stated that Bitcoin is currently experiencing a consolidation in a falling wedge stretching as far back as March 2023. According to Faibik, the asset is also likely to remain in this wedge all through October, reaching as low as $23,000. Upon testing this price level, Faibik predicts Bitcoin could experience a price breakout and embark on a strong bullish run. To explain, a falling wedge pattern is generally interpreted as a bullish signal. It usually suggests that a bearish trend is losing momentum, and a price reversal could soon occur.  If this pattern holds true in the present Bitcoin market, Captain Faibik predicts Bitcoin could start rising in November, attaining a price of $34,500 in January 2024. Such price gain would mark a 30% increase in Bitcoin’s current price.  As usual, there are no guarantees no this prediction as the crypto market is subject to various factors. Investors are advised to conduct proper personal research before making investment decisions. Related Reading: Ethereum Path To $1,700 – Predictions For The Week Ahead Bitcoin Non-Whales Attain New Levels Of Market Supply In other news, Bitcoin non-whales, defined generally as addresses holding under 100 BTC, have increased their total holdings in the BTC market.  According to data from Santiment, these wallet addresses have acquired 2.4% of BTC’s supply from October 2022 and now account for an all-time high value of 41.1% of Bitcoin’s available supply.  On the other hand, BTC whales, defined as addresses holding 100-100,000 BTC, have dumped 0.9% of BTC since early June and now account for 55.5% of BTC’s available supply, their lowest level of market dominance since May.  At the time of writing, BTC now trades at around $26,574, with a 0.07% decline in the last day. The token’s daily trading volume is also down by 29.95% and is valued at $9.17 billion. With a market cap of $517.19 billion, Bitcoin retains its spot as the largest cryptocurrency in the market. BTC trading at $26,569 on the hourly chart | Source: BTCUSDT chart on Tradingview.com Featured image from Investing News Network, chart from Tradingview

Coinbase recently explored the acquisition of FTX Europe, highlighting the growing significance of crypto derivatives in global trading strategies.

Here's how a couple's argument over lost Bitcoin ends in six-hour standoff in Thailand.

Quick Take From March 2020 to September 2023, the landscape of Bitcoin entity balance dominance witnessed a notable shift. The ‘shrimp’ class, entities holding less than 1 Bitcoin, saw their dominance rise from 3.5% to 6.9%, indicating a growing number of small-scale investors. Similarly, ‘crab’ entities holding 1-10 Bitcoins surged from 8.2% to 10.9%, reinforcing The post Shrimp and whales surge ahead in shifting Bitcoin balance landscape appeared first on CryptoSlate.

We are far away from having consumer-ready crypto products regular people can use effectively — and that must be changed.

As October approaches, the crypto community will have their eyes set on the US Securities and Exchange Commission (SEC), as it has some key decisions to make that could invariably affect the crypto industry and everyone in it.  SEC Appeal Incoming? The SEC is expected to decide whether or not to appeal the ruling in its case against asset manager Grayscale, with the deadline for an appeal being October 13 (45 days from the court’s ruling).  On August 29, Grayscale secured a landmark victory against the SEC as the District of Columbia Court of Appeals ruled that the regulator failed to provide a valid reason for denying Grayscale’s application and ordered that the SEC review the application once again.  Related Reading: Polkadot Cross-Chain Bid Takes Flight As DOT Battles Uncertainty Following the decision, a spokesperson for the agency stated that they would review the decision before determining their next steps. If the SEC chooses to appeal, it can do so at the US Supreme Court by filing a petition for a “writ of certiorari,” which is a document asking the Supreme Court to review the case, or it can ask for an “en banc” review where all the judges of the DC Court of Appeals will further review the case.  An appeal by the SEC will undoubtedly dampen the mood in the crypto community as it could prolong the wait for a Spot Bitcoin ETF. However, suppose the Commission chooses not to appeal, it will become law that the spot and futures market are correlated, and the SEC’s argument that the spot market is more susceptible to fraud and manipulation will no longer stick.   Cryptocurrency market cap currently at $1.03 trillion. Chart: TradingView.com Pending ETF Applications The second deadline for several pending spot Bitcoin ETF applications is in October. The SEC must decide (approve, deny, or delay) on these applications. Some notable dates include October 16 and 17. The former is the second deadline for a decision on the Bitwise Bitcoin ETP Trust.  Meanwhile, October 17 is the second deadline for the SEC to decide on the iShares Bitcoin Fund, VanEck Bitcoin Trust, Wisdomtree Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and Wise Origin Bitcoin Trust. It is expected that the SEC will again choose to delay its decision on these applications, with the next deadline for a decision coming next year. Related Reading: ImmutableX Makes Noise As IMX Dominates Top 50 Roster With 33% Climb If the SEC continues to stretch its decision on these applications, the earliest a final response can come is on January 10, 2024, the final deadline for the ARK 21Shares Bitcoin ETF. There should, however, be some positives to take from October as the SEC is expected to allow the launch of the pending Ethereum futures ETF applications, with Volatility Shares projected to launch theirs on October 12 and others coming subsequently.  Featured image from Hotcore

Bollinger Bands are volatility indicators utilizing price bands. Traders buy near the lower band and sell near the upper band.

In recent weeks, Ethereum (ETH), one of the most valuable assets in the cryptocurrency market, has not enjoyed favorable sentiment due to its struggling price and unstable on-chain performance. The general market condition has not offered much reprieve either, as most altcoins have failed to maintain an upward momentum.  Fortunately, the latest on-chain revelation offers some hope for the price of Ethereum.  Ethereum Average Fee Drops To Lowest Level In 2023 On-chain analytics have been helpful in providing real-time insights into crypto market trends. And the latest on-chain revelations have highlighted a plunge in Ethereum network fees, which might prove to be a turning point for the cryptocurrency’s market value and performance. According to the on-chain analytics platform, Santiment, the Ethereum network fees have dropped to their lowest levels in 2023, with each transaction averaging about $1.15 as of this writing. This reflects a significant fall from the huge fees seen in 2021 and 2022, with demand for processing power causing the average fees to reach above $50. Related Reading: Ethereum Bearish Signal Reappears After Five Years To Threaten ETH’s Price Historically, such a decline in fees is a positive sign for Ethereum’s utility and adoption, as lower costs make it more profitable and worthwhile to use the network. Santiment also noted that rising utility is often the case due to Ether tokens becoming more affordable to circulate. It is worth noting that the impact of this development can spread to the overall market value of the digital asset. Increased utility and adoption can contribute to the recovery of Ethereum’s market capitalization and value.  The Effect On ETH Price? Indeed, the plunging network fees positively benefit Ethereum and its users, especially as it can improve other network metrics and parameters. However, this development has not significantly impacted ETH price, as it seems to be struggling to break out from under the current selling pressure. On Thursday, September 21, the cryptocurrency fell beneath the psychological $1,600 level for the second time this month. And the Ether token continues to trade below this price mark, with a roughly 2.6% decline in the past three days. Related Reading: Ethereum Price Plunges After Rejection, Are Bears Back In Action? Investors will be watching to see if Ethereum can build positive network momentum while fees are low. However, it remains to be seen whether this will be enough to propel the ETH price out of consolidation, especially as there are no signs of buying pressure from Ethereum whales. Moreover, the dwindling number of major ETH holders adds zero optimism to this scenario. This is because such a decline in whale holdings can make the Ethereum price increasingly susceptible to downward pressure. According to CoinGecko data, the Ether token trades for $1,593, reflecting a 2.6% price dip in the past week. Ethereum is currently the second-largest cryptocurrency, with a market capitalization of $191.6 billion. Ethereum price trading below $1,600 on the daily timeframe | Source: TOTAL chart on TradingView Featured image from The Economic Times, chart from TradingView

Skybridge Capital founder Anthony Scaramucci maintains that Bitcoin is better than gold.

While Coinbase holds $25 billion in BTC, the exchange only owns around $200 million of Bitcoin in its wallets.

The decentralized platform has made an immense surge in market capitalization. This is pivoted by the entrance of various projects that seem eye-catching to entrepreneurs. These projects have mining pools within their networks. For instance, Ethereum and Bitcoin, the world’s leading digital currencies, made an impact on the crypto ecosystem with the inauguration of mining

Coinbase announced it registered as a cryptocurrency exchange and custodian wallet provider with the Bank of Spain.

The post Debt nation: The unsustainable rise of debt in the U.S. appeared first on CryptoSlate.

The following is a guest post from Srikumar Misra, founder at aarnâ protocol. A quintet of interwoven vectors: DeFi, stablecoins, AI, regulation, and liquidity are large themes bouncing around, posing barriers and deep opportunities. The build energy continues to be phenomenal. It feels like Token 2025 will vastly differ from the muted, bated-breath anticipation the The post 5 Most Important Trends in DeFi: Unpacking Token 2049 appeared first on CryptoSlate.

Today's top performer is THETA, which has soared by about 8%.

Polkadot (DOT) is making strategic moves to propel its development forward as bearish market conditions continue to cast a shadow over the crypto landscape. In recent weeks, the network has shifted its focus away from speculation, opting instead to double down on its commitment to technological advancement.  This move was evident in the multiple presentations it delivered, shedding light on its ongoing efforts and its ambitious goal of achieving 1,000 parachains. Related Reading: ImmutableX Makes Noise As IMX Dominates Top 50 Roster With 33% Climb A Paradigm Shift In Polkadot’s Strategy In a landscape where various blockchain networks are fiercely vying for cross-chain dominance, Polkadot is emerging as a formidable contender. The Sub0 developer conference served as a platform for the network, reaffirming Polkadot’s commitment to cross-chain integration and the immense potential it holds. 🌞GM diligent #Web3 BUIDLers & #crypto degens!☕️ 🔗🌐 #Polkadot is aiming for the stars !🌟! Announced at #sub0, developers are introducing updates to support 1,000 #parachains, a tenfold increase! 🚀 “Asynchronous backing” will halve block time & augment block space, paving the… pic.twitter.com/74YZv8pcwS — Orbiter One (@OrbiterOne) September 22, 2023 The implications of this move are profound. Polkadot envisions a future where parachains, interconnected through its innovative architecture, foster a thriving ecosystem of decentralized applications, each with its unique use cases and communities. This holistic approach to blockchain interoperability opens up vast opportunities for developers and users alike, promising seamless interactions between disparate blockchain ecosystems. Navigating Choppy Waters: DOT’s Price And Sentiment DOT price has been navigating choppy waters since February. As of the latest data, DOT is trading at $4.01, according to CoinGecko, with a 24-hour movement of 0.1% and a seven-day decrease of 4.3%. This downtrend has led many to wonder if DOT can regain its bullish momentum in a bearish market. DOT reached a market cap of around $5 billion, Saturday. Chart: TradingView.com On-chain data cited in a report suggests a glimmer of hope, indicating a slight improvement in DOT’s weighted sentiment over the last three weeks. This uptick in confidence among traders suggests that some believe in DOT’s potential for an eventual upswing, though it has yet to manifest in price action.  Related Reading: XRP Hurdle In The Run-Up To ‘Proper Party’ – Will Altcoin Price Slip? Looking Ahead: DOT’s Prospects In A Bearish Altcoin Market As cryptocurrency analyst Benjamin Cowen suggests, altcoins, including DOT, may face challenges throughout the remainder of 2023, a pattern often observed in pre-halving years. Nevertheless, Polkadot’s recently unveiled plans and its unwavering commitment to technological innovation position it favorably for the long run. The network’s vision of a cross-chain future, with an expanding parachain ecosystem, could serve as a catalyst for renewed investor interest and a potential bullish reversal. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock

Coinbase CEO Brian Armstrong said decentralization and open-sourcing AI is a better alternative to regulating the space.

Bitmain rolled out its efficiency-focused Antminer S21 at the WDMS, and Bitcoin miners shared their plans for boosting productivity via green energy.

The total value locked in DeFi plunged by nearly $5 billion in the past week, falling to $44 billion, according to DappRadar data.

Coinbase’s interest in acquiring FTX Europe highlights the exchange’s plan to push into the derivatives markets and expand its derivatives business globally.

Quick Take An examination of the real, inflation-adjusted gold prices since 1915, using the headline Consumer Price Index (CPI), reveals a striking pattern of peaks and troughs. Particularly noteworthy is the peak in January 1980, when an ounce of gold reached $2,675, its highest ever in inflation-adjusted terms. Since then, despite two subsequent peaks in The post Analysis of inflation-adjusted trends shows gold unable to break 1980 high appeared first on CryptoSlate.

Takashi Murakami said he might step back from NFTs but stay involved differently, Krapoplis is set to debut on Fox this month, and an NFT artist won a multimillion-dollar contract dispute.

As per DefiLlama data, Solana’s TVL has decreased by 9.64% over the past month to sit at $358.96 million, while Base’s TVL has surged to $397.32 million.

In a battle to recover billions of dollars following the collapse of FTX, Chief Executive and Restructuring Officer John J. Ray III, is intensifying efforts just weeks before FTX founder Sam Bankman-Fried faces trial in what has been labeled one of the largest financial frauds in American history. Bankruptcy court proceedings kicked off the week as FTX filed a lawsuit against Bankman-Fried’s parents, Allan Joseph Bankman and Barbara Fried.  The suit aims to reclaim millions of dollars allegedly fraudulently transferred and misappropriated by the couple, who purportedly took advantage of their access and influence within FTX to enrich themselves at the expense of debtors and creditors. Continuing the pursuit of recovery, FTX Trading Ltd. subsequently filed a lawsuit on Thursday against four former employees of Alameda Ltd., an FTX affiliate based in Hong Kong.  The complaint alleges that these employees received $153 million in transfers shortly before the collapse of the crypto trading platform.  According to Bloomberg, these individuals allegedly leveraged personal connections to prioritize the withdrawal of their funds and digital assets from FTX once it became evident that the company was facing financial turmoil. FTX CEO Ramps Up Efforts To Reclaim Assets Per Bloomberg’s report, the bankruptcy proceedings have attracted the attention of outside investors and speculators, including prominent distressed-debt investors like Silver Point Capital, Diameter Capital Partners, and Attestor Capital.  These entities have seized the opportunity to acquire discounted FTX claims, anticipating that the protracted bankruptcy process will uncover additional valuable assets.  Related Reading: This Bitcoin Chart Mirrors Sinister 2019 Shadow: Retrace To $20,000 On The Horizon? Court records show that they have already purchased over $250 million worth of FTX debts since the beginning of the year, according to a Bloomberg analysis. While legal actions are in progress, some funds are being voluntarily returned. Stanford University, where Bankman and Fried held teaching positions and enjoyed reputations as legal scholars, announced its decision to return millions of dollars received from FTX and its associated entities.  According to court documents, Stanford received gifts totaling approximately $5.5 million from FTX-related entities between November 2021 and May 2022. Bankman-Fried Family Turns To Risky Strategy According to a Fortune Magazine report, The Bankman-Fried family has adopted a risky strategy in their legal battle, shifting blame onto prominent law firm Sullivan & Cromwell.  They argue that the firm failed to act in its best interests, downplaying its involvement in FTX’s downfall. This move aims to establish an “advice of counsel” defense, painting Sam Bankman-Fried as a well-meaning individual who received “poor legal advice”. Criticism of Sullivan & Cromwell’s substantial legal fees, exceeding $100 million in the FTX bankruptcy case, raises ethical concerns but not necessarily legal wrongdoing.  Per the report, the family’s strategy may backfire, as it could provide prosecutors with access to new evidence by waiving attorney-client privilege. Furthermore, the defense’s focus on blaming the law firm invites scrutiny of Bankman-Fried’s father, an active participant in key business decisions. Additionally, Bankman-Fried’s father received $10 million in FTX funds that he has yet to return, potentially for his son’s legal defense. Related Reading: Privacy For All: Brave To Integrate Zcash Protocol On Native Crypto Wallet The Bankman-Fried family’s attempt to discredit Sullivan & Cromwell introduces complexity to the case. However, its effectiveness remains uncertain. As the legal proceedings continue, the implications of these strategies on the case and public perception of the family remain to be seen. Featured image from Shutterstock, chart from TradingView.com 

CRV, the native currency of Curve Finance, the decentralized exchange focused on stablecoins, is shaking off August’s weakness and printing higher highs when writing on September 22. Trackers reveal that CRV is up 22% in the past two weeks, adding 10% in the last week alone. Coincidentally, there has been increased activity from a whale moving CRV from Binance, the world’s largest crypto exchange by client count. Whale Offloads CRV From Binance To Curve Finance According to The Data Nerd, a tracker, a whale transferred 1.542 million CRV, worth roughly $684,000, from Binance. Afterward, the whale, only identified as “0x171,” added liquidity to Curve Finance. Over the last week, the whale has been actively supplying liquidity to Curve Finance, providing 5.36 million CRV worth $2.27 million. CRV is the governance token in CurveDAO, the decentralized autonomous organization (DAO) behind Curve Finance. Since the exchange is decentralized, CRV holders have voting rights. Moreover, they can receive rewards whenever they supply liquidity to any of Curve Finance’s pools.  Related Reading: Bankrupt FTX Exchange Turns Its Attention To Employees, Here’s How Much It Wants Curve Finance used an automated market maker (AMM) model for the trustless swapping of stablecoins, including DAI, USDT, USDC, and other tokens like ETH and wrapped Bitcoin (wBTC). However, to function optimally, Curve Finance relies on liquidity pools where users can supply liquidity and get a share of fees distributed in CRV.  The withdrawal of coins from Binance to a non-custodial wallet is a vote of confidence for CRV. The token has been free-falling in Q3 2023. To illustrate, CRV crashed by 32% in August alone.  The draw-down was worsened by the broader contraction in crypto occasioned by waning momentum around the approval of several complex derivatives for Bitcoin and Ethereum. At the same time, regulatory actions, especially from the Securities and Exchange Commission (SEC), significantly impacted sentiment and token prices. CRV Sold Off After Hack The free-fall of CRV can be directly pinned to an exploit of multiple Curve Finance liquidity pools in late July 2023. In a re-entrancy attack, a hacker exploited a vulnerability in the older version of a Vyper compiler, draining over $61 million worth of tokens from Curve Finance’s pools. Through the re-entrancy attack, the hacker could infinitely withdraw deposited tokens from Curve Finance’s pools, resulting in losses. Related Reading: How An ‘Inconsequential’ Mistake Saw Bitcoin Crash To $8,000 Curve Finance has since patched the vulnerability, but CRV prices are yet to recover despite the recent pump. Also, its co-founder and CEO, Michael Egorov, had to liquidate a big chunk of CRV that he had used to secure loans on multiple platforms, including Aave.  By early August, Egorov had sold 106 million CRV via over-the-counter (OTC) trades at a discount to multiple entities. Top buyers included Justin Sun, the co-founder of Tron, who bought 2 million CRV, and Jeffrey Huang, who acquired 3.75 million CRV. Feature image from Canva, chart from TradingView

Ethereum’s next major upgrade, Dencun, will likely see a delayed launch according to statements from developers during a meeting on Sept. 21. Though Dencun is largely complete, it is still under development and in need of testing. Tim Beiko, a member of the Ethereum Foundation, said that Dencun still must be deployed to a testnet. The post Ethereum’s ‘Dencun’ upgrade likely delayed into 2024 appeared first on CryptoSlate.

Shiba Inu has seen an impressive recovery in its burn rate after recording a slow start to the week. The recent acceleration could suggest that investors are once again rousing and choosing to actively contribute to the reduction of supply which could lead to an increase in price. Shiba Inu Burn Rate Rises 627% Thursday, September 21, has proven to be one of the best weeks for the meme coin in terms of its burn rate. According to Shiba Inu burn tracking website Shibburn, the cryptocurrency saw a 6277% jump in its burn rate in the space of 24 hours. Related Reading: Is Cardano (ADA) The Worst Investment Of 2023? Here’s What The Data Says This acceleration in the burn rate has seen more than 194 million tokens incinerated in the one-day period across multiple transactions. A number of these transactions carried reasonable amounts of tokens in the millions. However, one transaction stands out as the major reason behind the spike in burn rate. Burn rate up 627% in one day | Source: Shibburn A single transaction was seen carrying over 137 million tokens to the burn addresses. This transaction alone was enough to match the previous day’s figures, and with more contributions from the community, the total tokens burned in the last 24 hours is closing in on 200 million. The burn rate is also up 31.62% in the last week as well. Shibbrun reports that more than 653 million tokens have been burned in this seven-day period. As of the time of writing, there are 410,659,642,147,703 SHIB tokens sitting in the burn address. HOURLY SHIB UPDATE$SHIB Price: $0.00000727 (1hr -0.01% ▼ | 24hr -0.37% ▼ ) Market Cap: $4,282,495,643 (-0.34% ▼) Total Supply: 589,340,357,852,296 TOKENS BURNT Past 24Hrs: 194,116,333 (627.43% ▲) Past 7 Days: 653,032,836 (39.5% ▲) — Shibburn (@shibburn) September 22, 2023 Shibarium Takes Center Stage The recovery in burn rate could be attributed to the rising interest in the Ethereum Layer 2 blockchain Shibarium. Launched less than a month ago, the blockchain has already marked some impressive milestones since then. One of the major milestones is the fact that the total transactions on the network have already crossed the 3 million mark. Additionally, wallet addresses on the blockchain crossed 1.25 million with daily transactions sitting above 42,000. Related Reading: Shiba Inu Update: 530% Spike In Shibarium Metric Could Trigger SHIB Recovery The network has, so far, produced more than 760 blocks while gas fees remain low at 1.55 Gwei. The network also saw a spike in new verified contracts earlier in the week, suggesting that more developers are choosing to build on the network. Shiba Inu lead marketer Lucie also took to X (formerly Twitter) to urge investors to use decentralized exchanges (DEXes) on the network instead of centralized exchanges. According to her, doing so would help accelerate the SHIB burn since the burns are set per transaction. So a rise in usage and transactions would translate to more tokens being burned. SHIB price holding $0.0000072 | Source: SHIBUSD on Tradingview.com Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from Analytics Insight, chart from TradingView.com

Crypto exchange Bybit suspends UK services starting October 2022 due to new FCA regulations on crypto asset promotions.

Prometheum was purportedly “purpose-built to comply with federal securities laws” and avoided lawsuits from the SEC, unlike firms like Binance and Coinbase.

YouTube announced several upcoming artificial intelligence (AI) features, all related to short video editing, in a blog post on Sept. 21. YouTube added that it will introduce an AI-powered “insights” feature that will help users create new video ideas and draft outlines. It will also offer an assistive search tool that will help video creators The post YouTube teases AI features to roll out in 2024 appeared first on CryptoSlate.

Authorities say the machines were found when 11,000 troops raided the Tocorón prison this week.

FTX intensified its asset recovery operations under legal scrutiny as founder Sam Bankman-Fried prepares for his October trial in October.  Spearheaded by FTX Chief Executive and Restructuring Officer John J. Ray, the company aims to reclaim billions of dollars that…

This week’s Crypto Biz explores SVB Capital bids, new funds from Blockchain Capital, the Hut 8-US Bitcoin merger and Citigroup’s private blockchain.

Twelve major incidents security incidents occurred this week, leading to crypto losses of roughly $6.4 million. According to web3 security firm CertiK, these losses were due to crypto hacks and phishing attacks through Discord and X (formerly known as Twitter).…

Crypto exchange Coinbase reportedly showed interest in acquiring the European subsidiary of bankrupt FTX, Fortune reported on Sept. 22. Coinbase reportedly considered acquiring FTX Europe following its collapse last November and continued to explore this possibility even into this month. This interest was part of Coinbase’s strategy to expand its global presence in the crypto The post Coinbase looked to acquire FTX Europe despite bankruptcy baggage appeared first on CryptoSlate.

A federal judge in California denied the motion to dismiss the case against Compound Labs and its associated entities, after allegations of violating financial regulations. This means owners of the COMP token can move ahead with their lawsuit. Partner identification…

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

To expand its derivatives business overseas, Coinbase attempted to acquire FTX Europe twice since it filed for bankruptcy in November 2022.

Coinbase chief legal officer floats possibility of Base token despite past denials.

Apecoin DAO commits $12.5 million to the Digital Art Movement, and announces the launch of a novel governance token, $DAM. The APE Foundation has greenlighted a pivotal investment in the Digital Art Movement (DAM), earmarking a hefty 11 million ApeCoins—a…

Microsoft is integrating AI capabilities like Copilot and DALL-E 3 across its consumer products, aiming to lead the AI assistant race.

The former president of FTX US founded the company in January to serve institutional investors in crypto and traditional derivatives.

Amazon updates its guidelines mandating disclosure of AI-generated content to curb low-quality ebooks that are claimed to be written by humans.

Three judges in an appeals court have denied former FTX CEO Sam Bankman-Fried’s bail request, according to a court filing on Sept. 21. Those judges, all on the 2nd U.S. Circuit Court of Appeals in Manhattan, found no error in an earlier decision by U.S. U.S. District Judge Lewis Kaplan. The appellate judges wrote in The post Appeals court denies Sam Bankman-Fried’s second attempt at bail appeared first on CryptoSlate.

In a Sept. 22 post on X, Bloomberg Intelligence analyst James Seyffart reported Bitwise, the crypto index fund manager, has withdrawn their application to convert $BITC from a Bitcoin futures fund to a Bitcoin and Ethereum futures fund. This means…

Game engine giant Unity isn’t killing its despised runtime fee, but it is offering developers options to avoid it or otherwise reduce costs.

The 200-week and 200-day moving averages converge at $27,800, acting as an obstacle to further BTC price gains.

Balancer DAO, a decentralized autonomous organization governing the protocol, protocol thanked a team of security experts for their help following a DNS attack on a top level .fi domain registrar employed by Balancer. Balancer DAO called attention to SEAL 911,…

Senator Menendez, a long-time critic of Bitcoin and other crypto for its alleged association with criminals, faces up to 20 years in prison if convicted.

The crypto casino Rollbit has decided to wind down its degen exchange due to “uncertainty and low adoption” a little over a month after its launch on Aug. 17 with pilot tokens like RLB and UNIBOT. Degen exchange users cannot…

Google’s BigQuery added 11 new public data sets for blockchain networks, allowing users to obtain a variety of data from these networks.

Marcel Pechman explains whether real estate or Bitcoin is a better store of value and breaks down Instacart’s current valuation and why investors may want an alternate investment.

Gucci creative director Sabato de Sarno's first runway show for the fashion giant is also now in the metaverse.

Bitcoin (BTC/USD) awaited greater technical clarity early in the Asian session as the pair continued to orbit the 27000 figure and trade around technical levels related to recent selling pressure around the 30222 and 28184 levels.

Bitcoin (BTC/USD) awaited fresh technical guidance early in the Asian session as the pair continued to trade around the 26677.10 area, a downside price objective that was easily absorbed following selling pressure that mounted around the 27393 and 27240 areas.

Playing casino games is a go-to way of spending your leisure time. Whether you seek an adrenaline boost or simply want to relax, the world of iGaming has a lot to offer. However, an intention to just chill sometimes results in surprisingly big wins.

The story of a traditional Lyonnaise bouchon encouraging Bitcoin adoption in a very French way.

ETH has given up its deflationary status as network fees are falling, putting pressure on the price of the second largest cryptocurrency.

Coinspeaker Coinbase Explores FTX Acquisition and Derivatives License Until FTX collapsed in November, FTX Europe was the only firm offering special crypto derivatives (perpetual futures) to the European market. Coinbase Explores FTX Acquisition and Derivatives License

Google’s cloud-computing business has stored historical data on Bitcoin since 2018, claiming the service provides faster access than can be obtained directly from the blockchain.

Coinspeaker Bybit to Suspend UK Operations in Response to FCA’s New Rules The recent decision by Bybit to suspend its operations in the United Kingdom is not an isolated incident within the crypto industry. Bybit to Suspend UK Operations in Response to FCA’s New Rules

Bitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips.

The final stage of the presale is witnessing massive traffic as $WSM is predicted to enter the top-3 meme coin chart within the first two weeks of its debut launch

A European regulatory framework targeting digital assets should be in greater accord with global efforts, argues new research.

As per analysts’ forecasts, its early investors are likely to get a 3,000% ROI. On the other hand, Ripple (XRP) and Floki Inu (FLOKI) have struggled to retain their user bases.

A noticeable shift away from stablecoins has taken place over the past 18 months.

Headquartered in Dubai, crypto exchange Bybit said it will suspend services to residents of the United Kingdom starting in October due to “regulatory changes.”