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30 ноября 2023 10:21

🇦🇪 Paxos expands to Abu Dhabi with two new in-principle approvals

Crypto firm Paxos continues its international expansion, now snagging two preliminary approvals in Abu Dhabi. Paxos has received two in-principle approvals from the Financial Services Regulatory Authority in the Abu Dhabi Global Market to issue stablecoins and offer crypto brokerage and custody services, the company said Wednesday. The preliminary approvals are for two new entities of Paxos within the ADGM.

The full approvals are expected in the first half of next year, a Paxos spokesperson told The Block, adding that those will allow the company to issue new USD-backed as well as other currency-backed stablecoins from Abu Dhabi, although Paxos is currently focused on a new USD-backed stablecoin. The Abu Dhabi expansion plan comes two weeks after Paxos received in-principle approval from the Monetary Authority of Singapore for its new local entity that will launch a new USD-backed stablecoin in the country. Paxos was founded in 2012 and is backed by high-profile investors, including Bank of America, Peter Thiel's Founders Fund and Coinbase Ventures.

Source

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28 ноября 2023 14:15

📣 KyberSwap recovers $4.7 million after exploit

Decentralized exchange protocol KyberSwap has recovered $4.67 million in funds following a recent security attack. A hacking incident resulted in a loss of $47 million from Kyber's concentrated liquidity pools last week. A portion of funds' recovery was completed yesterday through negotiations with the operators of front-running bots, which extracted about $5.7 million in crypto from KyberSwap pools on the Polygon and Avalanche networks during the hack, the team said.

The bot operators agreed to a deal in which they would return 90% of the funds they had taken to a specified KyberSwap address on the Polygon network, with a 10% bounty as their incentive. This negotiation is distinct from the main event’s hacker, who had previously indicated a willingness to negotiate. While the team offered a white hat bounty, that negotiation has seemingly not yet progressed. The hacker had targeted KyberSwap’s Elastic pools, impacting funds across multiple blockchains, including Arbitrum, Optimism, Ethereum, Polygon, and Binance Smart Chain. The vulnerability exploited by the hacker was linked to an issue with the tick interval boundaries in Kyber’s concentrated liquidity pools.

Source

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25 ноября 2023 22:02

💰 Blur price doubles following Season 2 airdrop and Binance listing

The price of the NFT marketplace Blur's native eponymous token has doubled in the last three days, following its recent airdrop and getting listed on Binance. The token has risen from $0.31 on Nov. 21 to its current price of $0.63 today, according to The Block's Price Page. The token's price is also up 150% over the last month. Blur’s Season 2 rewards program, designed to incentivize usage, concluded on November 21. This airdrop was aimed at rewarding those who utilized the Blur marketplace from May to November.

According to a Dune dashboard, 43,000 users have claimed 269 million tokens ($169 million) so far. This represents 87% of the total number of claimable tokens. The majority of the tokens were claimed in the first few hours of the airdrop going live. Three users claimed more than 10 million tokens ($6.3 million) each, with one of them — with the ENS name hanwe.eth — netting 22 million tokens ($13 million). A pseudonymous crypto individual known as Machi Big Brother claimed 6 million tokens ($3.8 million). Earlier today, Binance announced that it was listing Blur, with trading starting a few hours later. This corresponded to an immediate jump in the token's price.

Source

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23 ноября 2023 14:44

🟠 Binance ex-CEO Changpeng Zhao says he’ll ‘deal with pain’ in internal memo

Changpeng Zhao, who stepped down as Binance’s CEO on Tuesday, said in an internal memo to staff that he will have to “deal with some pain but will survive.” “I needed a break anyway. And now I got it,” Zhao said, according to a screenshot of the letter first reported by crypto journalist Colin Wu. Two sources familiar with the matter confirmed the memo's authenticity. Binance is expected to hold a company-wide town hall meeting — at which Zhao and his successor Richard Teng are expected to speak.

Zhao pleaded guilty to violating the Bank Secrecy Act and stepped down as the CEO of the world’s largest crypto exchange. As part of the plea deal, Zhao agreed to pay a $50 million fine. Binance, the company, will pay a $4.3 billion fine for violating money transmission laws and U.S. sanctions. Zhao will also pay a $175 million personal recognizance bond and must agree to appear in court in Seattle on February 23 next year for sentence hearings, a court filing showed. The world’s largest crypto exchange saw a significant uptick in withdrawals today. Data from DefiLlama showed that Binance’s 24-hour outflows topped $1 billion as of 3:30 p.m. Hong Kong time on Wednesday. The exchange's net outflows over 7 days amounted to $703.1 million.

Source

@TradeCryptoNow

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21 ноября 2023 12:02

🟢 Tether Freezes $225M Linked to Human Trafficking Syndicate Amid DOJ Investigation

Stablecoin issuer Tether has frozen $225 million worth of its own stablecoin following an investigation by the U.S. Department of Justice (DOJ) into an international human trafficking syndicate in Southeast Asia. The investigation was ongoing for months and used blockchain analysis tools provided by Chainalysis. It marks the largest-ever freeze of a stablecoin, a press release said.

The crime syndicate is related to the "pig butchering" scam, which the Federal Bureau of Investigation (FBI) said cost U.S. citizens $3.3 billion last year. The frozen tokens were being held in self-custodied wallets and did not belong to Tether customers, the press release added. "Through proactive engagement with global law enforcement agencies and our commitment to transparency, Tether aims to set a new standard for safety within the crypto space,” said Paolo Ardoino, CEO of Tether. Tether also froze 32 crypto addresses linked to terrorism and warfare in Ukraine and Israel last month.

Source

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19 ноября 2023 16:47

🚨 Stars Arena Incident Causing Community Disturbance Confirmed Not A Hack

The friend.tech clone project on Avalanche Stars Arena is once again facing security concerns following a recent incident that has caused damage to many users’ assets. The project has responded by announcing a key migration to enhance security measures. According to the project, a thorough investigation by its engineering team has found no evidence linking the recent claims of funds draining to an exploit affecting the wider platform.

The project’s response comes amidst growing concerns among users who have reported missing funds. On November 17, 2023, an account named “GiganticTip” shared on-chain data retrieval findings indicating that many users had their assets drained, with AVAX tokens being transferred through the FixedFloat mixer to obscure the hacker’s identity. Despite the project’s assurances and plans to continue development, the Stars Arena incident has further eroded users’ trust. The incident raises questions about the project’s security measures and the potential for further vulnerabilities. The upcoming key migration will be closely watched as the project seeks to regain user confidence and address ongoing security concerns. The attacker later returned the funds, keeping 10% as a bug bounty.

Source

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17 ноября 2023 08:40

🪙 Paxos to issue new USD-backed stablecoin in Singapore

Crypto firm Paxos has formed a fresh entity in Singapore to launch a new USD-backed stablecoin in the country. Paxos Digital Singapore Pte. Ltd. received in-principle approval from the Monetary Authority of Singapore, Paxos said late Wednesday. The new entity will issue a USD-backed stablecoin that will comply with Singapore's recently finalized stablecoin regulatory framework before the legislative amendments take effect.

In August, MAS finalized its framework for regulating stablecoins, applicable to single-currency stablecoins pegged to the Singaporean dollar or any G10 currency, including the U.S. dollar. Crypto firms aiming to recognize their stablecoins as "MAS regulated stablecoins" must comply with the framework. "Paxos is one of only two companies, alongside StraitsX, to get this approval from MAS," a Paxos spokesperson told The Block. "We will issue a new stablecoin with all new branding. That's because it is done from Singapore." Paxos does not yet have a name or specific details for the new stablecoin, aside from it being USD-backed and issued by the firm's new Singapore entity, the spokesperson said.

Source

@TradeCryptoNow

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14 ноября 2023 22:23

💰 Grayscale's Solana Trust Trades at 869% Premium as Institutions Flock to SOL

Grayscale's Solana Trust (GSOL) is trading at a premium of 869% to its underlying assets amid a surge in institutional interest in the cryptocurrency industry, CoinGlass data shows. The trust's shares are priced at $202 following a 653% rise since the start of September, while the SOL token trebled to $58 from $19. CoinGlass shows it holds 115,900 tokens ($6.78 million) on behalf of its clients. The widening premium comes after the underlying asset, SOL, surged 20% on Friday.

Positive sentiment continues to build after FTX founder Sam Bankman-Fried was found guilty on seven counts of fraud earlier this month. The token was dubbed one of the "Sam Coins" before the exchange's collapse because it had invested millions into the ecosystem and built Serum, a decentralized exchange, on the Solana network. Institutional interest in crypto has experienced an uptick over the past few months, with CME, the venue that is preferred by institutions, overtaking Binance in terms of derivatives market share. The increase can be attributed to optimism around the potential approval of a spot bitcoin ETF, something that the SEC has consistently denied over the past few years.

Source

@TradeCryptoNow

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12 ноября 2023 18:55

📣 SafeMoon CEO John Karony’s bail postponed while courts assess level of flight risk

According to court documents dated Nov. 9, a judge has partially granted U.S. prosecutors’ request to counter the bail of John Karony, the CEO of crypto platform SafeMoon. A filing from New York prosecutors indicates that a Utah magistrate judge, Daphne A. Oberg, issued Karony’s release order on Nov. 8. Karony’s bail included a $500,000 bond plus conditions of house arrest and restrictions on financial activities. Prosecutors for the Eastern District of New York said the Utah judge did not consider Karony’s finances and his ability to flee.

Specifically, they said that Karony had millions of dollars of assets that the court was not aware of, including a Utah home currently being sold for $1.5 million, various expensive items, and money in an unnamed company. The Nov. 9 filing states that Karony’s release order will be stayed (paused) until the matter is resolved. That filing is signed by District Judge LaShann DeArcy Hall for the Eastern District of New York, where Karony’s criminal case is proceeding. Prosecutors noted that Karony has “shown a desire to remain abroad” since working on SafeMoon. Specifically, they said that Karony took twelve trips to Europe in just over two years. Most recently, they said, Karony was outside of the U.S. for five months before returning on Oct. 27. He planned to stay in the U.S. for just weeks.

Source

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11 ноября 2023 11:33

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09 ноября 2023 17:09

📊 KuCoin and Gate exchanges to list BRC-20 memecoin Sats

Crypto exchanges Gate and KuCoin are planning to list Sats — a memecoin based on the Ordinals BRC-20 token standard — on their platforms soon. Gate opened deposits for Sats at 4 a.m. EST earlier today. Meanwhile, KuCoin said will enable deposits, with trading estimated to start at 5 a.m. EST on Nov. 9, provided the token deposits meet the liquidity requirement, per its announcement. The trading pair SATS/USDT will be available on KuCoin, the exchange added.

Sats is a memecoin created on Bitcoin through the Ordinals protocol, named after ‘satoshis,’ the smallest unit of Bitcoin. The token is currently trading at $0.00000012 with a diluted market capitalization of $270 million. Unisat data indicates that Sats is held in 39,000 user wallets on the Bitcoin network. Memecoins constitute the majority of tokens created using the Ordinals protocol, and are designated as BRC-20 tokens. This term is named in analogy to the ERC-20 token standard on the Ethereum blockchain, although their mechanisms differ. Introduced by developer Casey Rodarmor in early 2023, the Ordinals protocol allows developers to assign a distinct identity or file onto every satoshi within the Bitcoin network, a process called inscription.

Source

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08 ноября 2023 08:11

🪙 Evmos plans to deprecate Cosmos transactions, signals Ethereum alignment

The core team at Layer 1 blockchain Evmos, which facilitates the integration of Ethereum smart contracts within the Cosmos network, is planning to discontinue support for Cosmos transactions to focus exclusively on Ethereum-based transactions. This means the core network will support only Ethereum-based wallets and tools instead of those designed for Cosmos. The transition to a single transaction format is expected to streamline the development workflow and improve the efficiency of Ethereum wallets on the network.

Evmos’ team has grappled with the dual challenge of maintaining compatibility for both Cosmos and Ethereum clients, according to the team. The network currently supports distinct transaction hashes for each ecosystem, a complexity the team plans to eliminate. The strategic move to an EVM-centric transaction approach will allow the Evmos team to focus on simplification. The change is also anticipated to ease the workload for developers of wallets and blockchain explorers by removing the necessity to support two transaction formats. While Cosmos transactions cater to essential network operations like staking and governance, Ethereum transactions facilitate interactions with dApps via the Ethereum Virtual Machine on Evmos.

Source

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05 ноября 2023 18:20

📣 Lido Finances approves proposal to enable Obol decentralized staking module

Liquid staking protocol Lido Finance voted to approve a proposal incorporating Simple Distributed Validator Technology from the Obol Network. "DVT represents the fastest way to add many new Node Operators to the Lido Node Operator set with a more diverse profile of solo and community staker participants while benefiting from the technology's inherent benefits such as increased resilience, distribution, and security," a Lido member wrote in the proposal.

"The Simple DVT module is intended to demonstrate that utilizing DVT on mainnet is possible, while furthering the diversification of the Lido Node Operator set on Ethereum and potentially setting the stage for more scalable and permissionless DVT-based modules in the near future." "This vote signifies support for the advancement of this new module. This will be Lido's first module to use Obol DVs on Ethereum mainnet," Obol Labs, the firm building the Obol network, wrote on social media. "This module represents a significant step towards strong diversification and decentralization of the Lido Node Operator set."The Obol Network, developed by Obol Labs, allows individuals to take part in an ecosystem of distributed staking validators.

Source

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02 ноября 2023 12:49

🇬🇧 PayPal UK registers with FCA for crypto services but faces stringent restrictions

PayPal UK has registered with the UK's Financial Conduct Authority (FCA) to offer crypto asset activities within the country. The registration was effective from Oct. 31, according to the UK financial regulator's website. However, a notice on the FCA's website stated that PayPal UK will be subject to specific restrictions that apply unless the FCA has granted otherwise. The restrictions mean that PayPal UK will not be able to bring on new customers and existing customers will only be able to hold or sell tokens.

Beyond this, the FCA outlined a list of prohibited services, including facilitating peer-to-peer transactions, getting involved with initial coin offerings, providing staking services and participating in DeFi activities such as crypto asset lending and borrowing. In August, PayPal paused the ability to make crypto purchases in the UK due to the FCA's rules. This will continue until 2024. PayPal’s crypto registration comes as the UK Treasury released its final proposals for future regulation of crypto asset activity on Monday. The proposals outline the UK government's intention to bring several crypto asset activities into the regulatory perimeter for financial services for the first time. Companies offering crypto services in the UK must be approved for registration and comply with the FCA's anti-money laundering rules.

Source

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30 октября 2023 10:28

🇸🇻 Bitcoin-friendly El Salvador can become ‘Singapore of the Americas’ — VanEck adviser

El Salvador can follow Singapore’s lead and become a financial center in the Americas, according to Gabor Gurbacs, strategy adviser of investment management firm VanEck. “I say often to portfolio managers and asset allocators that El Salvador has the potential to become the Singapore of the Americas,” Gurbacs explained in an Oct. 28 X (formerly Twitter) post. Gurbacs expects new capital investment and immigration to be the main drivers behind El Salvador’s increased economic growth over the next few years.

Oct. 28 post by United States broadcaster and Bitcoiner Max Keiser, which was captioned “Move to #ElSalvador, The New Land of the Free.” Keiser, who now lives in El Salvador, listed Bitcoin and the U.S. dollar’s legal tender status, a clean-up of Salvadoran crime, great beaches and great coffee as some of the main reasons the Central American country should be on everyone’s radar. El Salvador’s status as an emerging economy became more prominent when Nayib Bukele was elected as the country’s president in June 2019. El Salvador’s sovereign bonds have outperformed many other emerging markets this year, yielding an eye-popping 70% return by August. It even caught the attention of JPMorgan and other large investment banks. Bukele and the El Salvador government made Bitcoin legal tender in September 2021.

Source

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29 ноября 2023 09:50

✖️ dYdX Chain starts paying trading rewards following governance vote

Cosmos-based Layer 1 dYdX Chain has begun distributing DYDX +
rewards accrued from trading activities to users, following the commencement of full trading on the decentralized derivatives trading protocol, which was greenlit by a decisive governance vote. The beta mainnet of dYdX Chain was launched on November 14, initiating "active trading" across more than 33 markets with leverage of up to 20x. During the beta phase, although staking rewards were active.

Since the launch of the beta stage two weeks ago, the protocol has seen over $1.86 million in total trades across roughly 14,000 transactions, as reported by the dYdX Operations subDAO, which manages the decentralized infrastructure of the dYdX Chain. Initially, just four markets are available for full trading: BTC/USD, ETH/USD, SOL/USD and LINK/USD, with more markets to be added over the coming weeks, the dYdX Operations subDAO said. The alpha mainnet for dYdX version 4, along with the debut of its Cosmos-based blockchain, was launched on Oct. 26, signaling a notable transition for the leading decentralized derivatives platform to become a standalone Layer 1 on Cosmos after previously relying on Ethereum Layer 2 scaling solution StarkEx in version 3.

Source

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26 ноября 2023 17:36

🟠 Binance Founder Changpeng 'CZ' Zhao Isn't a Flight Risk, His Attorneys Say

Binance founder Changpeng "CZ" Zhao poses "no risk of flight" and should be allowed to return to the United Arab Emirates for now, a Thursday filing said. The partially redacted document pushed back against a U.S. Department of Justice filing, arguing that Zhao should not be allowed to leave the U.S. ahead of his February sentencing after pleading guilty to one charge of violating the Bank Secrecy Act. Zhao has already demonstrated he won't be a flight risk by the very fact that he came to the U.S. to enter that plea.

"Based on all the relevant facts, including Mr. Zhao’s voluntary self-surrender, his intent to resolve this case, and the sizable bail package he proposed, Judge Tsuchida found that Mr. Zhao presents no risk of flight, even while residing in the UAE," the filing said. Binance pleaded guilty to multiple charges alongside Zhao earlier this week, agreeing to pay a massive $4.3 billion fine, appoint monitors to oversee its compliance program and review its past transactions and accept Zhao's resignation as CEO. Former Binance regional markets head Richard Teng has taken over as CEO. Still, his attorneys and the DOJ have been arguing over whether he can return to the UAE, where he is a citizen and where his family lives, or if he must stay in the U.S. If Zhao returns to the UAE.

Source

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24 ноября 2023 08:10

🏦 Kraken co-founder says crypto ‘more fair’ after historic Binance settlement

Crypto exchange Kraken is “playing the long game” even as “new threats to the industry's reputation continue to emerge,” its co-founder said today — hot on the heels of the U.S. Department of Justice's historic criminal settlement with Binance and just days after the U.S. Securities and Exchange Commission filed a fresh lawsuit against Kraken itself. In a post on X, Kraken co-founder Jesse Powell said the game “feels a bit more fair today” in reference to the Binance settlement.

“The last 12 months have answered 2 nagging questions from shareholders: 1. How are they going so fast? 2. How are they getting away with it?” Powell wrote. “It's hard to keep faith while your market share dwindles and the only enforcement that's happening is against the good guys.” Powell added that new threats to the industry's reputation continue to emerge. “Each dodgy operation represents an opportunity for governments to scapegoat crypto and tighten the noose.He also brought up Coinbase and Ripple in his post, saying that Kraken and these firms were all the SEC’s “easy targets” sitting right in their backyard.

Source

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22 ноября 2023 14:10

🟣 Kraken says products remain unaffected amid SEC’s new ‘disastrous’ lawsuit

Cryptocurrency exchange Kraken says its operations are not impacted after the U.S. securities watchdog filed an “incorrect” and “disastrous” lawsuit against the firm on Monday. Kraken’s comments follow the filing of a lawsuit by the Securities and Exchange Commission against the firm's parent companies, Payward and Payward Ventures. In its blog post, Kraken said that the lawsuit has no impact on its products and that it remains “fully committed to our U.S. and global clients and partners.”

The suit follows similar actions against Coinbase and Binance, which the SEC alleges operate unregulated securities exchanges. Separately, the U.S. Department of Justice is reportedly seeking over $4 billion from Binance as part of a deal that could end an ongoing investigation, according to a Bloomberg report on Monday. Specifically, the crypto exchange pointed out that the SEC’s argument that its products were investment contracts was “incorrect as a matter of law, false as a matter of fact, and disastrous as a matter of policy.”, In the lawsuit, the SEC argued that Kraken has at times held customer crypto assets valued at more than $33 billions.

Source

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20 ноября 2023 13:44

💰 Sam Altman Invited To Cardano Partnerchain LLM After Being Fired By OpenAI’s Board

Cardano founder Charles Hoskinson invites ousted OpenAI CEO Sam Altman to join the Cardano partnerchain LLM. OpenAI’s board announced that Sam was fired for not being “consistently candid in his communications with the board.”. Cardano founder Charles Hoskinson has invited Sam Altman, the former CEO of OpenAI, to participate in a decentralized large language model (LLM) project related to the Cardano partnerchain.

The invitation of Charles Hoskinson comes after OpenAI’s board fired Sam Altman, as per Reuters. OpenAI’s Chief Technology Officer, Mira Murati, will serve as the interim CEO while the company searches for a permanent replacement. Altman’s departure followed a review process by the board, citing a lack of consistent communication hindering their responsibilities. Greg Brockman, OpenAI’s president and co-founder, resigned from the company in response to Altman’s firing. The sudden management changes surprised many employees, including Altman and Brockman themselves, who learned of the decision shortly before the public announcement.

Source

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19 ноября 2023 09:39

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15 ноября 2023 16:48

💰 Fake filing for BlackRock XRP Trust caused brief price spike

A fake filing that was designed to look like BlackRock was setting the stage for an XRP ETF caused a temporary pump in the price of XRP. The filing was submitted to the Delaware Divisions of Corporations and published on its website. It contained details matching similar BlackRock filings, including the name and address of its registered agent. It was similar to previous filings for bitcoin and ether, but naming XRP. This means BlackRock is not currently preparing to launch a spot XRP ETF.

The price of XRP rallied briefly on the fake news of a potential Blackrock XRP ETF on Monday.The firm denied the authenticity of the Delaware entity filing that caused a fuss. Yet a BlackRock spokesperson confirmed to The Block that the filing has no relation to the asset manager. This means BlackRock is not currently preparing to launch a spot XRP ETF. The filing, first spotted by users on X, was followed by a 12% hike in the price of XRP over the next 30 minutes after the first posts. It was similar to previous filings for bitcoin and ether, but naming XRP. Once it was reported that the filing was fake, the price returned closer to the previous level of 66 cents per token, according to Coingecko.

Source

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13 ноября 2023 22:29

💰 Solana's Rally Hits 184% Gain in 30 Days as $19M in SOL Shorts Liquidate in 24 Hours

Among the leading ten crypto assets by market value, solana (SOL) has outperformed its peers this week. Currently, SOL boasts a 45.2% increase over the last week and has vaulted by 184% against the U.S. dollar in the last 30 days. On Saturday, November 11, trading prices for SOL ranged from $53.59 to $63.44 per coin. With around $4.41 billion in global trade volume over the past day, SOL ranks as the fifth most traded cryptocurrency in terms of trading activity.

The recent uptick in solana’s value has resulted in a significant number of short positions wagering on the digital currency’s decline being liquidated. Data from Coinglass reveals that solana tops today’s chart with short position liquidations amounting to $19.28 million. Concurrently, conversations about SOL’s rise are peppered across social media networks, including X. Data from Cryptocompare indicates that on Saturday, SOL’s primary trading pair is tether (USDT), capturing 52% of the activity, with trades against the U.S. dollar ranking second at 17.83%. The Korean won is responsible for a significant 16.27% slice of all SOL trades, while BTC claims 5.83% of the market share.

Source

@TradeCryptoNow

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11 ноября 2023 14:52

💰 Bitcoin Fees Climb 150% in 3 Days as Block Space Grows More Expensive

The demand for space in Bitcoin’s ledger has witnessed a sharp rise, compelling miners to face a daunting 429 megabytes of data backlog, equivalent to approximately 229 blocks. At block height 815,999, there is a logjam of around 201,646 transactions awaiting confirmation by miners. Only three days ago, the fee to expedite a transaction with high priority was pegged at $3.38; since then, it has soared over 150% to its present price of $8.46 per transaction. This is in the wake of a staggering 4,000% hike in BTC fees the previous month.

Archived data from mempool.space shows that sending a bitcoin transaction without priority costs $0.74, while a low-priority transaction comes with a $6.51 fee. Medium priority transactions stand at approximately $7.56 as of Thursday. Bitinfocharts.com reports that the average bitcoin transaction fee is 0.00019 BTC, or $7.17, with the median fee at 0.00011 BTC, or $4.34 per transaction. The spike in costs for block space can be attributed to the recent surge in bitcoin’s value, which approached $38,000 around 9:50 a.m. Eastern Time on November 9. contribute to the growing backlog and the escalating fee market

Source

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10 ноября 2023 16:15

👀 FTT rallies over 80% after Gary Gensler's nod to possible FTX reboot

The token associated with the defunct FTX cryptocurrency exchange has experienced a price surge of over 80% in the past 24 hours. The rally comes after U.S. Securities Exchange Commission Chair Gary Gensler hinted that he would be open to a rebooted FTX — as long as its done "within the law." FTT is now changing hands for $2.27, gaining over 80% in the past 24 hours, as of 6.55 a.m. ET, according to CoinGecko.

The news comes after it was reported that Gensler said FTX could be revived under new leadership. According to CNBC on Wednesday the SEC Chair gave his views on reports that Tom Farley, a former president of the New York Stock Exchange, is among a short list of bidders attempting to buy the bankrupt FTX exchange. "If Tom or anybody else wanted to be in this field, I would say, 'Do it within the law,'" Gensler said at DC Fintech Week. "Build the trust of investors in what you’re doing and ensure that you’re doing the proper disclosures, and also that you’re not commingling all these functions, trading against your customers. Or using their crypto assets for your own purposes," Gensler added.

Source

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09 ноября 2023 09:24

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06 ноября 2023 16:46

💰 Ripple (XRP) Dominates Ethereum (ETH) in Interest in Almost Every US State

Google Trends data shows that XRP is more popular than Ethereum in 47 US states, with the highest interest coming from Delaware, Nevada, Louisiana, Arizona, and Hawaii. Forecasting the future value of XRP varies greatly among analysts, with estimates ranging from a moderate increase to $0.90 by next summer to an extreme prediction of $500, which would require a market capitalization far exceeding the current total crypto market cap. with Ripple’s partial wins in court contributing to a positive trend.

Ripple’s native token – XRP – seems to be a highly intriguing topic for many Americans. According to Google Trends data, the residents of 47 states have displayed higher interest in the asset than Ethereum (ETH). Delaware, Nevada, Louisiana, Arizona, and Hawaii are the regions where XRP is the most popular. On the other hand, Vermont, New York, Oregon, and the District of Columbia are the only areas where Ethereum has surpassed Ripple’s coin. The outcome of the legal battle, which has been ongoing since December 2020, is expected to be revealed in the spring of 2024 during a grand trial. Multiple analysts and experts have predicted that a decisive win for Ripple could propel a further jump for XRP.

Source

@TradeCryptoNow

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03 ноября 2023 14:50

💰 'Santa Rally' Could Propel Bitcoin to $56K by Year-End, Matrixport Says

One of the most famous sayings on Wall Street is that a bull market tends to stay in motion unless an external force acts upon it. Bitcoin (BTC) has historically lived up to the adage modeled along Sir Isaac Newton’s third law of motion and could do so again, rising as high as $56,000 by the end of the year, according to crypto services provider Matrixport. “If bitcoin is up at least +100% by this time of the year, then there is a +71% chance or five in seven that bitcoin would finish the year higher with average year-end rallies of +65%,".

Bitcoin is trading above $35,000, representing a 114% on a year-to-date basis. The impressive gain could be attributed to several reasons, including spot ETF optimism, speculation the Federal Reserve’s liquidity tightening cycle has peaked and haven demand. The expected 65% price rise means bitcoin could trade above $65,000 by the year-end. The chart shows the historical performance of bitcoin in the first ten months and the final two months of the year from 2010-2022. “When bitcoin is up at least +50% by the end of October, there is, on average, a 78% chance that bitcoin will advance even more into year-end. Bitcoin rallied another +68% until year-end on seven of nine previous occasions. This analysis is based on thirteen years of bitcoin history,” Thielen noted.

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@TradeCryptoNow

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31 октября 2023 10:56

📣 LastPass Hack Victims Lose $4.4M in a Single Day

Hackers siphoned a total of $4.4 million worth of crypto from at least 25 LastPass users on Oct. 25, according to blockchain analyst ZachXBT. LastPass is a platform that stores and encrypts password information for users. Its cloud-based storage service was breached in an attack last year that involved targeting an employee and stealing their credentials. ZachXBT and MetaMask developer Taylor Monahan have tracked at least 80 crypto wallets that have been compromised in relation to the hack.

Funds have been stolen from the Bitcoin, Ethereum, BNB, Arbitrum, Solana and Polygon blockchains, according to a list published by Monahan. "Cannot stress this enough, if you believe you may have ever stored your seed phrase or keys in LastPass migrate your crypto assets immediately," ZachXBT wrote on X, formerly Twitter. Cryptocurrency wallets are often targeted by hackers because a common attack vector is obtaining a private key, which gives the hacker complete access to funds. In July more than $300 million was stolen from crypto users in a string of hacks and exploits. Cybersecurity journalist Brian Krebs reported that more than $35 million worth of crypto had been stolen in relation to the LastPass breach.

Source

@TradeCryptoNow

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29 октября 2023 18:45

📊 Stablecoins need to be regulated, says Federal Reserve's Barr

Stablecoins need to be regulated, top Federal Reserve official Michael Barr said on Friday in prepared remarks. When an asset is pegged to a government-issued currency and also used as a means of payment and a store of value, it "borrows the trust of the central bank," the vice chair of supervision said at a conference in Washington D.C. "So, the Federal Reserve has a strong interest in ensuring that any stablecoin offerings operate within an appropriate federal prudential oversight framework, so they do not threaten financial stability or payments system integrity," Barr said.

The central bank has increased its focus on stablecoins and in August announced new guardrails to strengthen its supervision of banks involved in stablecoin activity. Barr said he was "deeply concerned" about issuing stablecoins without strong federal oversight, in remarks last month. Meanwhile, in Congress, lawmakers have battled over how stablecoins should be regulated in an effort to create a federal framework. The House Financial Services Committee made some progress when it advanced a stablecoin bill, though at the time Rep. Maxine Waters, D-Calif, criticized the bill over a provision that would allow state regulators to approve stablecoin issuance without Federal Reserve input. Waters told Politico this week that she expects talks on that stablecoin bill to start back up.

Source

@TradeCryptoNow