Block, the fintech firm led by Jack Dorsey, saw its share price surge by over 20% after reporting strong Q3 earnings, with net revenue of $5.62 billion, driven by a 37.5% increase in Bitcoin revenue through its mobile payment service Cash App.
Bitcoin-focused fintech company Block reported a profitable third quarter with $5.62 billion in revenue, boosted by strong growth in Cash App and Square, and $44 million in profit from its Bitcoin holdings.
Sam Bankman-Fried, the founder of crypto exchange FTX, has been found guilty on seven counts of fraud and conspiracy for his role in the collapse of the exchange. He faces up to 110 years in prison.
Bitcoin and other cryptocurrencies have had a slight decline after reaching their highest levels in nearly a year, but crypto traders are still hopeful for the start of a new rally.
Ocean Protocol (OCEAN), an altcoin focused on artificial intelligence (AI), is predicted to experience a 100% surge in price, while Chainlink (LINK) is expected to catch up to Ethereum (ETH) rival Solana (SOL), according to a top crypto strategist. Additionally, the strategist notes that the US Dollar Index (DXY) has topped, indicating a potential positive outlook for risk assets such as cryptocurrencies.
The National Bank of Georgia has partnered with Ripple to develop its central bank digital currency (CBDC) project, using the Ripple CBDC Platform to assess the benefits of the digital lari for the government, businesses, and retail users.
Bitcoin is predicted to move above $45,000, altcoins are expected to lead the way, and Ocean Protocol may reach $1.05 in November, according to crypto predictions.
Solana's SOL cryptocurrency has surged more than 50% in two weeks, with Coinbase being a major driver due to increased net capital inflows, particularly from institutional buyers bidding for SOL through the exchange. However, despite the price gains, on-chain activity on the Solana network, including assets locked in DeFi protocols, has declined.
FTX founder Sam Bankman-Fried is convicted of fraud for stealing at least $10 billion from customers and investors, facing potential penalties of up to 110 years in prison, after a New York jury rejected his claim of innocence.
Sam Bankman-Fried, founder of FTX cryptocurrency exchange, has been convicted on all seven charges of fraud and conspiracy, with a maximum sentence of 110 years, for his involvement in stealing customer funds.
Former CEO of Alameda Research, Caroline Ellison, pleaded guilty to fraud and testified against her ex-boyfriend, Sam Bankman-Fried, in a fraud trial, revealing their involvement in a $14 billion scam using client funds from Alameda to FTX, exposing their lack of suitability for leadership roles in the crypto exchange industry.
Despite lower trading volumes, Coinbase reported a narrowed net loss of $2 million in the third quarter, with a year-on-year increase in revenue and a positive adjusted EBITDA, indicating progress towards long-term growth.
The CEO of cryptocurrency company SafeMoon and two other executives have been arrested and charged with securities fraud, wire fraud, and money laundering conspiracy after allegedly using investor funds to purchase luxury vehicles and real estate.
An Ethereum NFT trading card based on NBA rookie star Victor Wembanyama sold for over $110,000, setting a record for the most valuable Wembanyama collectible to date, surpassing the price of his physical trading cards.
Bitcoin mining stocks surged as bitcoin traded at its highest level in 17 months, with U.S.-listed mining companies experiencing a 10%-12% rally and the Dow Jones Industrial Average having its best day since June.
Federal law enforcement has seized $54 million worth of cryptocurrencies from the leader of a New Jersey drug ring, Christopher Castelluzzo, and his co-conspirators, who were involved in drug trafficking and money laundering operations.
Block's share price surged in after-hours trading as the payments company exceeded analyst expectations, reporting a significant increase in Bitcoin revenue and a rise in gross profit from Bitcoin holdings.
MicroStrategy co-founder Michael Saylor predicts an unprecedented price surge for Bitcoin due to upcoming events such as the reduction in mining rewards and the potential approval of a spot Bitcoin ETF, along with increased investment from major financial institutions.
Bitcoin miner Marathon Digital has partnered with startup Nodal Power to conduct a pilot project, using methane gas from a landfill to power Bitcoin mining operations.
Coinbase Global Inc. reported higher-than-expected revenue in its latest quarter, but experienced a decline in trading volumes, resulting in a net loss of $2 million compared to a loss of $545 million the previous year.
Cryptocurrency exchange Coinbase reported higher than expected third-quarter revenue but experienced a decline in trading volumes, leading to a decrease in its share price.
Coinbase stock fell after its earnings report revealed a decline in crypto trading volume, with total revenue increasing but transaction revenue and trading volume decreasing, while the trial of former FTX CEO Sam Bankman-Fried, facing several fraud charges, continues with a potential verdict expected soon.
Solana (SOL) experienced a significant rally, doubling in price in recent weeks, but has since faced a slight decline, raising questions about the sustainability of the rally despite institutional inflows and rising activity.
The Dubai Financial Services Authority (DFSA) has recognized XRP and Toncoin as recognized tokens, joining Bitcoin, Ether, and Litecoin, allowing financial institutions in the Dubai International Financial Centre to carry out transactions with them and positioning Dubai as a leading financial services hub.
The founders of cryptocurrency SafeMoon have been accused of defrauding investors and using their funds to purchase real estate and luxury cars, leading to a multimillion-dollar fraud lawsuit filed by the US Justice Department and the Securities and Exchange Commission.
The United States Securities and Exchange Commission (SEC) has postponed its decision on Bitcoin ETFs to 2024, which experts believe is a strategic move to gain more time to establish regulatory clarity, but the approval of a Bitcoin ETF could bring in institutional capital and spark a bull run in the crypto market.
Shiba Inu (SHIB) price has seen a strong rally in October, but recent on-chain movements showing increased deposits into exchanges and long-term holders cashing out suggest that a significant retracement may be on the horizon, with a potential drop below $0.000006.
Argentine presidential candidate Sergio Massa's proposal to mine Bitcoin using excess natural gas from the Vaca Muerta oil fields has generated controversy within the country's cryptocurrency community, with some arguing that Bitcoin mining is too complex for the government to get involved, while others suggest that private companies are better positioned to take on the investment risks and that the government should focus on improving conditions for private mining ventures rather than direct involvement.
The probability of Hashdex's spot-bitcoin ETF application getting SEC approval is higher than others due to its unique approach of relying on CME pricing and using EFRP transactions instead of a surveillance-sharing agreement with Coinbase.
Apex Legends has teamed up with Post Malone for an in-game event featuring a new limited-time mode and exclusive cosmetic items, marking the biggest collaboration in the game's history.
Bitcoin reached its highest price in 18 months at $36,000 per coin before dipping slightly, while DeFi tokens like UNI and AAVE are experiencing significant growth in the decentralized finance ecosystem.
Bitcoin's correlation with tech stocks is expected to increase as the cryptocurrency market matures, but currently, there is a decoupling trend; however, the disparity between Bitcoin and equities is likely to widen further in the coming months due to sustained higher interest rates, favoring Bitcoin over stocks, according to industry insiders. Additionally, FTX founder Sam Bankman-Fried expressed regret over the $8 billion customer money disappearance during his trial in federal court. Bitcoin is currently trading at around $34,920.47, while Ether is at approximately $1,815.26.
FTX founder Sam Bankman-Fried is facing fraud charges for misusing billions of dollars worth of funds belonging to users of his crypto exchange, as prosecutors argue that he broke the trust of customers by siphoning their money for personal use and investments.
Bitcoin's price briefly reached $36,000 before experiencing a sharp decline of almost $1,300, contrasting with the rise in traditional markets due to speculation that major central banks may not raise interest rates further; however, bitcoin remains higher by 1.25% over the past 24 hours.
ProShares has launched the ProShares Short Ether Strategy ETF (SETH), allowing investors to profit from declines in the price of Ethereum (ETH), making it the latest addition to the firm's lineup of crypto-linked exchange-traded funds.
Jack Dorsey-led Block Inc SQ, formerly Square, will be reporting its third-quarter earnings on Nov. 2, with analysts focusing on gross profit margins and key product milestones, and Wall Street expecting the company to report 45 cents in EPS and $5.43 billion in revenue for the quarter.
Former BitMEX CEO Arthur Hayes has admitted to buying Solana's SOL at its possible local top, expressing his bullish outlook for the cryptocurrency, despite warnings of a potential 30% price drop in November due to overbought indicators and technical analysis.
The chances of a Bitcoin exchange-traded fund (ETF) being approved are increasing, and six-figure BTC price predictions are becoming more common as the April 2024 halving approaches, leading analysts to draw parallels with historical price patterns and suggesting a potential bullish cycle.
Shiba Inu has launched its SHIB Name Service (SNS) on its Layer-2 network, allowing users to replace complex blockchain addresses with simple domain names, as part of its decentralized identity scheme called SHIBDentity.
FTX CEO Sam Bankman-Fried's downfall, facing criminal charges and the loss of his fortune, highlights the dangers of prioritizing good intentions over responsible business practices, as his allegedly fraudulent actions overshadowed his claims of effective altruism.
PayPal has received a subpoena from the SEC's Enforcement division regarding its stablecoin, PYUSD, which indicates the regulator's increased scrutiny of the cryptocurrency sector.
Several Satoshi-era Bitcoin wallets that have been dormant since 2017, transferred a total of 6,500 BTC worth around $230 million, suggesting the rise of older Bitcoin addresses in 2023.
Bitcoin miner Marathon Digital has launched a pilot mining project in Utah that utilizes methane gas from landfill waste to generate electricity for its operations, with the potential for expansion. This approach aims to reduce greenhouse emissions and leverage renewable energy sources for Bitcoin mining while mitigating the harmful effects of methane gas on the environment.
PayPal received a subpoena from the U.S. SEC regarding its USD stablecoin, while Genesis has changed its bankruptcy plan to liquidate its assets; meanwhile, crypto services provider Matrixport predicts Bitcoin could reach $56,000 by year-end.
Bitcoin and major cryptocurrencies, including ethereum and XRP, have experienced a significant rally this month, driven by expectations of a surge in the bitcoin price to $150,000 per bitcoin by 2025 and the potential approval of bitcoin exchange-traded funds (ETFs) in the US, which could lead to a market capitalization of $3 trillion. A Bitcoin halving event and the introduction of ETFs are anticipated to cause price chaos and further propel the market.
PayPal has received a subpoena from the SEC regarding its USD-pegged stablecoin, PYUSD, and is cooperating with the request.
Software company MicroStrategy has acquired an additional 6,067 Bitcoin for $167 million, bringing its total holdings to 158,400 Bitcoin acquired for $4.69 billion, despite reporting a net loss of $143.4 million and an impairment loss on its Bitcoin stash.
Hong Kong's Securities and Futures Commission (SFC) has issued regulations treating tokenized securities like traditional securities, subjecting them to the same legal and regulatory requirements, including companies ordinance's prospectus regime and securities and futures ordinance on offers of investment.
Bitcoin could rise as high as $56,000 by the end of the year, with a 71% chance of a 65% price increase if it is up at least 100% by this time, according to Matrixport.
Payments giant PayPal has been subpoenaed by the US Securities and Exchange Commission (SEC) over its stablecoin, PYUSD, as regulators take a closer look at the growing stablecoin market.