FTX, a cryptocurrency exchange, made a large donation to a church in the Bahamas, but it later collapsed due to fraud allegations, leaving the country conflicted and hesitant to discuss the incident.
The bankrupt crypto exchange FTX and its trading arm Alameda Research moved $19.4 million worth of crypto assets, including Solana (SOL), Band Protocol (BAND), and others, while the estate still holds roughly $600 million in crypto assets. Former FTX CEO Sam Bankman-Fried is facing scrutiny following testimonies from his colleagues.
Several experts predict that the price of Ethereum (ETH) could reach $1800-$1900 or even break the $2000 mark by the end of the year, due to positive market developments and the potential for Ethereum to outperform Bitcoin as an investment option. However, the price of ETH may also be dependent on the behavior of Bitcoin and could consolidate within a range or experience a significant drop if there is a lack of bullish catalysts or negative market factors.
Bitcoin's recent rally has led to a resurgence in memecoins, with Pepe coin and other tokens experiencing significant gains, but the volatile nature of these tokens means they are at risk of losing value if negative news emerges.
Nonprofit organization Voltage Park bought $500 million worth of Nvidia chips to lease computing capacity for AI projects and plans to set up clusters of the chips in Texas, Virginia, and Washington to alleviate the shortage of AI chips.
FTX founder Sam Bankman-Fried, accused of orchestrating a multibillion-dollar fraud, maintains his innocence and argues that he was "building the plane as they were flying it" in his defense.
### Summary Tokenomics, which considers various token supply and market cap metrics, can help investors make smarter investment decisions by providing valuable information such as circulating supply, max supply, total supply, market cap, and fully-diluted market cap.
The Polygon (MATIC) price has broken out of an ascending parallel channel and reclaimed the $0.60 horizontal resistance area, suggesting a potential trend reversal, but the RSI is still undetermined. Additionally, the Polygon Labs team has announced the launch of the POL token upgrade on the Ethereum mainnet, paving the way for upcoming milestones in the Polygon 2.0 roadmap. The daily timeframe analysis indicates a bullish outlook, with the price action and RSI pointing towards further upside potential. However, a close inside the channel's support line could invalidate the breakout and lead to a price decline.
Saudi Arabia's NEOM Investment Fund plans to invest $50 million in Animoca Brands, a metaverse and gaming venture capital firm, to support its Web3 initiatives, signaling a potential turnaround in the Web3 venture capital sector.
Former FTX CEO Sam Bankman-Fried gave a lengthy testimony during his trial, with his responses averaging 73% more words than those of his three lieutenants, according to court transcripts analyzed by Fortune.
The surge in CME Bitcoin futures open interest has propelled the regulated derivatives platform to attain a 25% market share in Bitcoin futures, ranking second behind Binance.
Thailand's Kasikornbank acquires 97% of shares in a local crypto exchange through its subsidiary, aiming to expand its presence in the digital asset sector.
The market value of Bitcoin has doubled this year to over $34,000, but according to blockchain analytics firm IntoTheBlock, there are no signs of overheating, indicating potential for further gains in the cryptocurrency. The firm's analysis is based on the market value to realized value (MVRV) ratio, which currently stands at 170% and is significantly lower than the historical 300% threshold.
A Bitcoin educator in Tanzania successfully funded a hike up Mt. Kilimanjaro using Bitcoin and Nostr donations, while also promoting a new Bitcoin education academy in Tanzania.
Bitcoin could reach a new all-time high above $69,000 by September 2024, according to crypto analyst Jason Pizzino, who believes that as the S&P 500 recovers to new highs, Bitcoin will follow suit.
VanEck has filed an amended application with the SEC for a spot Bitcoin ETF, revealing that an unnamed investor purchased Seed Creation Baskets for the VanEck Bitcoin Trust using Bitcoin, suggesting an actual intent to incorporate Bitcoin in the product launch.
The crypto trading platform OPNX, associated with Three Arrows Capital's founders, has dropped its defamation suit against crypto investor Mike Dudas after he called its backers "unrepentant scammers" on Twitter.
A recent UN report indicates that the energy consumption of the global Bitcoin mining network increased by 140% due to a 400% rise in Bitcoin's price, although efforts are being made to increase reliance on green energy sources. Critics have pointed out that the report referenced a paper with overestimated carbon emission levels.
Regulators in Singapore, Japan, the U.K., and Switzerland are collaborating to conduct asset tokenization tests for fixed income, foreign exchange, and asset management products in an effort to improve the efficiency of global financial markets.
Former customers of the FTX cryptocurrency exchange, who lost about $16 billion in assets, are expected to recoup over 90% of their funds, with smaller customers potentially reclaiming most of their money as the company unearths missing assets and some investments appreciate in value; however, the Internal Revenue Service's claim of $44 billion against FTX could potentially override any recoveries for other creditors.
Bitcoin and other cryptocurrencies experienced a rise on Monday, approaching the upper limit of a range due to a two-week rally, while analysts monitored key technical indicators for potential further momentum.
Cryptocurrency exchange Kraken will share the data of 42,000 users with the IRS in compliance with a court order, including information such as names, dates of birth, tax IDs, addresses, contact information, and transaction history.
The UK government has published its final rules for regulating the crypto ecosystem, aiming to make the UK a preferred destination for the industry, with phased introduction of regulation and the inclusion of activities such as lending and trading under conventional financial regulation.
Bitcoin whales and retail investors are becoming more active in the cryptocurrency market as BTC surpasses $35,000, with large transactions and small investor participation reaching year-to-date highs, potentially signaling a sustained bull market.
Blockchain firm Surf Protocol has raised $3 million in funding to develop the first permissionless perpetual decentralized exchange, aiming to increase the range of tradable assets and maintain low fees.
After nearly a decade of inactivity, a long-dormant Dogecoin wallet awakened and transferred $372,461 worth of the cryptocurrency, making a profit of $366,493 from owning the meme token for almost 10 years.
Stablecoins like Tether (USDT) are being used in Pakistan as a high-tech alternative to traditional remittance methods, allowing individuals to transfer money across borders quickly and discreetly without alerting authorities. The adoption rate of cryptocurrencies in Pakistan is among the highest in the world, with remittances shifting from banking channels to crypto channels.
Crypto investors who have recently downloaded crypto applications from unverified sources are finding their coins disappearing suddenly, as hackers are utilizing various tactics such as search engine optimization, pasteboard hijacking, and liquidity mining and coin theft to gain access to wallets and steal cryptocurrencies.
Bitcoin (BTC) begins the week with comfortable highs above $30,000, supported by strong fundamentals, as traders speculate on potential price movements influenced by geopolitical instability in the Middle East and upcoming interest rate decisions by the US Federal Reserve. Some analysts are optimistic about a breakout toward $40,000, while others remain cautious of a potential crash to $20,000. Both the Bitcoin mining difficulty and hash rate have reached all-time highs, indicating the intense competition among miners. Additionally, the Crypto Fear & Greed Index has entered the "greed" category, matching levels seen during Bitcoin's previous all-time high.
The Chicago Mercantile Exchange (CME) has seen a significant increase in open interest for bitcoin futures, making it the second-largest exchange in terms of notional open interest, with analysts divided on whether it indicates increased institutional buying or the unwinding of bearish bets on offshore exchanges.
Bitcoin (BTC) is predicted to experience a parabolic surge, with an analyst suggesting that it has printed a local bottom and could rally to around $39,000 before potentially reaching $48,000 in November.
Zodia, the institutional cryptocurrency custody platform co-owned by Standard Chartered, SBI Holdings, and Northern Trust, is expanding its services to Hong Kong in response to growing demand from institutional investors.
Elon Musk announces that posts corrected by X's community-driven fact-checking feature will be ineligible for revenue share in order to prioritize accuracy over sensationalism, but users question the extent of the policy change.
Co-creator of Dogecoin, Billy Markus, criticized Bitcoin ATMs as ripoffs, highlighting the challenges and security risks associated with these machines.
Thailand's Kasikorn Bank acquires 97% shares in Satang crypto exchange for $102.8 million, and plans to capture 20% of the country's crypto market share by 2024.
El Salvadoran President Nayib Bukele is seeking re-election in the 2024 presidential election, despite critics arguing that it is unconstitutional, as he aims to continue improving the country and promoting his Bitcoin adoption program.
At least $35 million in crypto has been stolen from victims of the LastPass breach since 2022, with an additional $4.4 million drained from 25+ victims in the latest hack; users are advised to migrate their crypto assets if they stored their wallet seed or private key in LastPass.
Cryptocurrency analyst Michaël van de Poppe predicts an upward trend for altcoins Solana (SOL), Chainlink (LINK), and Arbitrum (ARB), with potential price targets of $36-$39 for SOL, $12.50-$13.00 for LINK, and $1.11 for ARB.
Mintable CEO and founder Zach Burks warns that the UK government's proposed regulation of nonfungible tokens (NFTs) fails to recognize the broader uses and potential utility of the technology beyond digital art. He suggests that regulators should adopt a more nuanced approach similar to that of Singapore, which evaluates NFTs based on their specific use cases.
Hopes of approval for a spot Bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC) have boosted Bitcoin's price, leading to increased trading volume for existing instruments and a rise in altcoins, with Bitcoin and Ether expected to continue their rally.
Asset manager VanEck has filed an amended application for a spot Bitcoin ETF in the US, joining other asset managers in updating their applications for a Bitcoin ETF, indicating progress in negotiations between regulators and issuers.
The Federal Reserve is expected to keep interest rates higher for longer, leading to a decline in altcoins until the stock market experiences a significant correction.
USDT has become the dominant cryptocurrency in Brazil, accounting for 80% of all transactions in the country in 2023, surpassing Bitcoin in volume.
The Deputy Secretary of the US Treasury says cryptocurrencies are not the primary source of financing for terrorist groups, but the digital asset industry must collaborate with authorities to prevent future abuse.
Crypto asset management firm VanEck predicts that Solana's price could increase by over 10,000% by 2030 if its user base reaches 100 million, with a potential price surge to $3,211.28 in a bullish market; however, it could drop to less than $10 in a bearish scenario influenced by market factors and revenue forecasts. VanEck also forecasts that Solana investors could generate up to $8 billion in revenues by 2030, and Solana has established partnerships with major financial institutions like Visa and Shopify.
Do Kwon, a cryptocurrency visionary, has become an international fugitive after the catastrophic $40 billion downturn of his tokens, TerraUSD and Luna, leading to the collapse of digital asset businesses and causing financial ruin for countless investors worldwide. Kwon's arrest in Montenegro has sparked political turmoil, and he is facing serious allegations of deceiving investors and accumulating vast crypto wealth. The downfall of TerraUSD had global repercussions, highlighting the unpredictable nature and perils of the cryptocurrency industry.
Ethereum (ETH) price has experienced a significant increase since October 22, but it needs to maintain levels above $1,727 and $1,650 to continue its upward trend, with a candlestick close below $1,650 invalidating the bullish outlook.
Bitcoin and other major cryptocurrencies are expected to experience a massive bull run and reach a price of $1 million due to potential "global wartime inflation," according to legendary trader Arthur Hayes. This prediction comes as the U.S. Treasury bond market faces extreme volatility and central banks grapple with soaring inflation.
Around 25 LastPass users, who stored their crypto seed phrases on the platform, lost over $4 million in digital assets after a breach in December 2022, with reports suggesting that a total of $35 million has been stolen from 150 victims since then.
Crypto-based memes, including memecoins like Pepe Coin, gained momentum as Bitcoin rallied on growing expectations that the US Securities and Exchange Commission will authorize exchange-traded funds that invest in Bitcoin directly.