Bankrupt crypto exchange FTX has requested permission to sell trust fund assets worth $744 million, including assets from Grayscale Investments and Bitwise, to prepare for distributions to its creditors.
The Bank of England will regulate "systemic stablecoins" that have the potential to disrupt financial stability, while the Financial Conduct Authority will oversee the wider crypto sector, according to proposals published by the regulators. The UK government plans to bring stablecoins into the scope of the country's payments regulation and expects to implement stablecoin regimes by 2025. The proposals aim to provide protections for stablecoin issuers and ensure that stablecoins are backed by appropriate assets and easily redeemed for fiat currencies.
The FTX estate has moved $102 million in Solana to crypto exchanges, potentially exerting selling pressure on the token and causing its price to drop.
Bitcoin (BTC) continues to hold near 18-month highs despite sell pressure, with the cryptocurrency and altcoins showing a change in sentiment by refusing to retrace gains, and volatility triggers such as Federal Reserve speeches and out-of-hours trading next week could lead to more volatile moves.
DZ Bank AG, the third largest bank in Germany, has launched its own digital assets custody platform built on blockchain technology, and aims to offer crypto securities and potentially allow customers to buy cryptocurrencies in the future.
Bitcoin has seen little upward movement since the release of negative U.S. nonfarm payrolls data, but market sentiment remains positive due to the potential end of Federal Reserve tightening and declining stock market volatility.
Bitcoin is poised for multiple upward movements with shallow dips in between, according to a prominent crypto strategist, who believes that BTC will likely continue its bullish stance as long as it remains above $34,079.
Over the weekend, nearly 400 GROK tokens were released by anonymous developers, reaching a combined market capitalization of tens of millions of dollars, with some early buyers seeing substantial profits, while others suffered losses due to developers "rug pulling" their tokens.
Crypto exchange FTX, which went bankrupt last year, has requested approval from the US bankruptcy court to sell trust assets, including funds from Grayscale and Bitwise, worth about $744 million, through an investment adviser, in order to prepare for creditor distributions and expedite the sales process.
The enthusiasm for a Bitcoin ETF has sparked increased confidence and activity in blockchain games, according to Animoca Brands founder Yat Siu, who believes that the growth and success of the GameFi sector can be measured by looking at on-chain activity rather than just token prices. Siu also emphasized the importance of Bitcoin as the reserve currency of Web3, stating that its growth and approval of a spot Bitcoin ETF will greatly benefit the industry as a whole.
The Simpsons featured non-fungible tokens (NFTs) and the blockchain in their Halloween special episode, highlighting the overvaluation of on-chain NFTs and showcasing popular NFT projects such as Beeple and Bored Ape Yacht Club.
Hong Kong's Securities and Futures Commission (SFC) is considering allowing retail investors to purchase spot crypto Exchange Traded Funds (ETFs) in an effort to boost efficiency and customer experience, but new risks must be addressed.
Ripple has partnered with the National Bank of Georgia to explore the use cases of a central bank digital currency (CBDC), citing Ripple's technical superiority and experience in conducting pilot programs with different countries' governments and central banks.
Major cryptocurrencies experienced mixed performance, with Bitcoin hovering between $34,000 and $35,000, and analysts predicting a potential move above the $35,000 mark. Meanwhile, a New York jury found the founder of FTX guilty of defrauding customers and lenders, with a potential maximum sentence of 115 years. The upcoming week is expected to have limited economic data and earnings, but seasonal tailwinds may boost stocks.
Bitcoin mining firm Luxor Technology has emphasized that its upcoming hashrate-backed product, which offers 10% to 13% returns, should not be compared to failed products like BlockFi or Celsius as it is backed by proof-of-work and legitimate economic production. The product allows investors to receive a portion of loan repayments by posting Bitcoin as collateral, providing miners with better access to capital while retaining ownership of mined Bitcoin. However, caution is advised in the nascent lending and borrowing markets, and Luxor will only work with reputable miners to mitigate risks.
Crypto analyst Kaleo predicts that Ethereum (ETH) and three other altcoins in its ecosystem, including ARB, OP, and BLUR, are likely to see significant price surges based on technical analysis and diagonal resistances.
The global market for Spot Bitcoin ETFs has reached a cumulative value of $4.16 billion, with Canada and Europe leading the way in terms of adoption, while the United States remains conservative, awaiting approval for ETFs tied to Bitcoin futures contracts. The SEC's decision on Spot Bitcoin ETF applications could have a significant impact on the market, potentially unlocking a new chapter in the crypto industry.
South Korean crypto tycoon Do Kwon evaded capture for months after his company Terraform Labs collapsed, but was eventually arrested and is now facing extradition to either South Korea or the US.
Cardano (ADA) has broken free from a period of consolidation and is showing a bullish trend, leading to speculation that its price could reach $0.42 this week. The resistance levels to watch are $0.35 and $0.38, and a pullback from the current trading level could serve as a revalidation of the breakout. On the downside, the closest support levels are $0.30, $0.27, and $0.24. Analysts believe that Cardano could benefit from investors shifting their focus from Bitcoin to altcoins, and the most crucial resistance point is at $0.47.
Blockchain startups are still receiving funding despite the bear market, with MetaMask partner Blockaid raising $33 million, while overall funding in the crypto industry has dropped to levels last seen in 2020, with $2.1 billion raised in the third quarter of 2023; Untangled Finance has raised $13.5 million to bring private credit on-chain; Nocturne has raised $6 million for on-chain private accounts; Account Labs has secured $7.7 million in funding for its UniPass Wallet app; Rymedi has raised $9 million to expand its blockchain-based healthcare infrastructure; and Waterfall Network has received $2 million ahead of its mainnet launch.
The US Department of Justice plans to seize $54 million worth of cryptocurrency that was allegedly obtained from the sales of illegal narcotics.
In 2023, several major crypto hacks occurred, including the Euler Finance hack, Mixin breach, CoinsPaid phishing scam, Atomic Wallet hack, Curve Finance hack, TrustWallet scam, MultiChain hack/rug pull, LastPass data breach, Stake hack, and CoinEx hack, resulting in hundreds of millions of dollars in stolen cryptocurrency.
XRP has experienced a 31% surge over the past three weeks, showing resilience amid market volatility, and the upcoming Swell conference in Dubai is expected to have a significant impact on its price.
Monero's community crowdfunding wallet was compromised in a security breach, resulting in the loss of 2,675.73 XMR (worth nearly $460,000), with the cause and source of the breach yet to be identified.
Crypto companies have the potential to become the tech giants of the future as blockchain and cryptocurrency transform people's lives, according to Coinbase CEO Brian Armstrong, who sees on-chain as the new online equivalent to the game-changing technology of the internet. However, regulatory clarity in the US remains a major hurdle for the industry.
Nearly 200 consumers in Washington and Oregon have filed complaints against Bitcoin company Bitcoin Bonus, alleging that the company has taken their money in fraudulent transactions by failing to deliver Bitcoin transfers after receiving transaction fees. The Better Business Bureau has advised consumers to be cautious when investing in cryptocurrency and to do thorough research before engaging with any company.
Decentralized Finance (DeFi) has the potential to reshape the global financial landscape, offering benefits such as real-time value movement, reduced barriers to entry, and user control over assets. As traditional financial systems face challenges of inclusion and digitization, DeFi's blockchain-based, intermediary-free model provides opportunities for financial innovation and accessibility. However, to fully harness its potential, a regulatory framework is necessary to protect users and foster mainstream adoption.
Macro guru Raoul Pal believes that Solana (SOL) could experience a price surge of 1,097% to 2,294% in the next bull run, potentially reaching between $500 and $1,000, making it a strong contender behind Bitcoin (BTC) and Ethereum (ETH) in the next crypto cycle.
Former crypto star Sam Bankman-Fried's trial was not a trial of cryptocurrency itself, but rather an indictment of the archetype of a tech dilettante who exploited the industry for personal gain, leading to a major regulatory victory for Bitcoin and a lasting impact on the reputation of the technology.
Pantera Capital founder Dan Morehead predicts a potential correction in equities markets and suggests that crypto assets and real commodities may outperform during that time.
Bitcoin and other major cryptocurrencies have experienced significant price increases this year due to concerns over inflation, with historical data suggesting that Bitcoin could reach $47,000 in the next 30 days and add $300 billion to its market capitalization. Additionally, options data indicates that traders are bullish on Bitcoin's future performance.
Decentralized crypto wealth management platform MC2 Finance aims to simplify the investment experience in DeFi by creating a user-friendly interface and infrastructure for creating KYC-free digital asset funds, bridging the gap between traditional finance and DeFi, and joining the Cointelegraph Accelerator program.
Analyst Bluntz predicts rallies for Ethereum (ETH) and Solana (SOL), with ETH expected to surpass $1,900 and SOL potentially reaching $50+, while also anticipating a significant correction for the US dollar index (DXY).
A fake Ledger app called Ledger Live Web3 has been stealing Bitcoin from users by tricking them into entering their recovery phrase, resulting in the loss of at least 16.8 BTC or $588,000. Microsoft has since removed the app from its store, but users are advised to be cautious and protect their cryptocurrency from scams.
Prominent cryptocurrency attorney John Deaton believes that a settlement of $20 million or less would be a significant legal victory for Ripple in their lawsuit against the SEC, which he claims is closer to a 90/10 advantage in favor of Ripple.
Approximately $600,000 in Bitcoin has been stolen through a fake Ledger Live application on Microsoft's app store, with the scammer receiving 16.8 BTC across 38 transactions.
The Ethereum rival, Solana, is predicted to continue its price surge, according to a crypto analyst, while the analyst also recommends accumulating SushiSwap at $0.91 and keeping an eye on Chainlink's $9.50 price level.
Terrorist groups like Hamas are using cryptocurrency exchanges to fund their operations and launder money, but law enforcement agencies are using blockchain analytics tools to track and trace the flow of funds and seize assets.
Former FTX CEO Sam Bankman-Fried is found guilty on all charges, PayPal receives a subpoena from the SEC, and Invesco Galaxy's spot Bitcoin ETF takes a step forward with its listing on the DTCC website.
Bitcoin could experience a parabolic rally with a potential surge to $50,000, as its bullish structure and recent pullback signal a strong upward movement, according to a prominent crypto analyst.
A crypto whale has been making bullish moves in Ethereum by depositing and withdrawing large amounts of ETH, demonstrating confidence in its price trajectory and highlighting the potential for profit in the cryptocurrency market.
The Financial Conduct Authority (FCA) in the UK is introducing new guidelines for crypto firms to ensure clear and fair marketing of digital assets, aimed at reducing consumer harm and promoting long-term economic growth.
Bloomberg analyst Jamie Coutts predicts that blockchain technology could have 100 million daily users by 2028, as adoption has been continuous and not having exposure to this trend could be costly, with potential valuations for the blockchain ecosystem reaching $5 trillion to $14 trillion.
Metadata in blockchain transactions refers to additional data or information that can be added to a crypto transaction on a blockchain, enabling users to include context and functionality to their transactions through on-chain and off-chain metadata. This metadata includes various details such as timestamps, transaction details, smart contract data, digital signatures, gas fees, IPFS links, oracles' information, and NFT metadata, which find applications in industries like supply chain management, digital identity, smart contracts, NFTs, and healthcare. Overcoming challenges related to scalability, data security, and oracle reliability is crucial for the widespread adoption of blockchain technology in these industries.
The National Bank of Georgia is partnering with Ripple to create the country's first central bank digital currency (CBDC) pilot program, aiming to test and evaluate the practical use cases and potential benefits of Ripple's CBDC technology.
The anticipation for a Bitcoin exchange-traded fund (ETF) approval in the US grows as investment managers file applications with the SEC, while the Chicago Mercantile Exchange (CME) surpasses traditional crypto exchanges in Bitcoin open interest, showcasing the demand for a spot Bitcoin product. Additionally, the SEC charges SafeMoon and its executives with fraud, Circle announces the discontinuation of consumer accounts, and Elon Musk's X platform has reportedly lost half of its value since his acquisition. Worldcoin's mobile app reaches 4 million downloads and 1 million active users.
Smart contract blockchains like Ethereum and Solana could reach 100 million daily users by 2028 with a quarter-on-quarter growth rate of 20%, leading to a potential increase in the total market cap of the smart contracts ecosystem between 1,328% and 3,900%.
Professional stock trader Peter To claims that Bitcoin's recent rally is not as interesting for day traders like him as it once was, signaling a potential decline in the market's volatility and trading opportunities. Retail investors have also retreated following the collapse of the FTX exchange, although some improvements have been observed. However, many crypto day traders have moved on, citing manipulation in the market and a lack of interest in digital assets.
FTX founder Sam Bankman-Fried's trial and conviction on fraud charges has raised concerns about the lack of oversight and potential for similar collapses in the cryptocurrency industry. Other crypto companies are hoping to distance themselves from Bankman-Fried's misconduct and emphasize the promise of decentralization, but the industry's reputation has already suffered from numerous legal issues and regulatory scrutiny. The trial outcome could hinder the industry's efforts to pass favorable regulations and regain public confidence.
Bitcoin has surged in value and reached $35,000 per bitcoin, but there are concerns that new regulations from SEC chair Gary Gensler could cause a market decline.