A thief who stole over $470m in cryptocurrency from FTX is attempting to cash out $20m daily, while the exchange's founder is on trial for fraud and money laundering.
Bitcoin (BTC) remains stable as U.S. inflation data surpasses expectations, leading to uncertainty in monetary policy and the Federal Reserve's ability to cut interest rates; market participants are cautious about a potential upside for BTC in the short term.
Account Labs, a crypto wallet provider, has raised $7.7 million in funding to launch its self-custodial wallet called UniPass, which aims to offer cheap and fast cross-border payments for Southeast Asian markets starting with Filipino freelance workers.
Singapore-based wallet provider Account Labs has raised $7.7 million in funding and announced the launch of its consumer-centric application, UniPass Wallet, which utilizes account abstraction technology to enable peer-to-peer stablecoin transfers and improve user experience. The wallet also allows for Google logins and "gasless" transactions, and plans to expand to Southeast Asian countries.
The Consumer Price Index (CPI) rose higher than expected in September, causing the price of bitcoin to decline, as the Federal Reserve hinted at the possibility of another rate hike.
Pepe Coin continues to experience a decline in price and loss of investor trust due to issues such as money laundering accusations and wallet theft, while Meme Kombat, a new meme coin with real utility and transparency, emerges as a promising alternative with its successful presale and attractive staking APY.
Caroline Ellison, a former top executive of Sam Bankman-Fried's cryptocurrency empire, testified in court that Bankman-Fried corrupted her values, leading her to lie and steal, and expressed a sense of relief when his businesses collapsed because she no longer had to deceive.
United States District Judge Amy Berman Jackson has cleared pending motions in the ongoing lawsuit between the SEC and Binance, including accepting an amicus brief filed by Circle arguing that stablecoins like USD Coin (USDC) are not securities.
Bitcoin extended its losing streak, falling below $27,000, while altcoin Bricks (BRICK) surged 110% in 24 hours, and a cryptocurrency-focused trading platform, Membrane Labs, raised $20 million in funding to strengthen the industry's trading infrastructure.
Bitcoin has historically performed well on Friday the 13th, with prices rising an average of 1% on the day and surging by 14% and 66% in one and three months, respectively, afterward; however, there are concerns of a corrective phase within the crypto market due to challenges facing Ethereum and signs of weakness in the crypto markets.
The thieves who stole more than $400 million from FTX may have ties to Russian cybercriminals, according to cryptocurrency tracing firm Elliptic, as they have used services that commingle funds with cryptocurrency from Russia-linked ransomware hackers and dark web markets.
The native tokens of Binance and Blur are not looking promising, according to an analyst, who advises caution due to fear, uncertainty, and doubt surrounding Binance and the consecutive all-time lows of Blur's token.
A Chinese court rules that crypto lending is outside the protection of the legal system, denying a borrower's judicial relief for defaulting on an 80,000 Tether loan.
Lido Finance, a liquid staking protocol, faces a minimum penalty of 20 Ethereum and additional penalties for slashing before it can withdraw its ETH from validators, following the largest number of validators being slashed in a day this year.
The legal battle between XRP and the SEC continues, with the outcome still uncertain, but there is potential for growth due to XRP's technological capabilities and the possibility of an IPO, although the high regulatory risk should not be ignored.
Alameda Research's sister fund, FTX, lost at least $190 million in trading funds due to multiple security incidents, including a trader losing over $100 million after clicking on a malicious link and losses exceeding $40 million in a yield farming venture on a blockchain with questionable legitimacy. The firm prioritized speed over security, leading to minimal code testing and incomplete balance accounting, as well as storing private keys and API keys in plaintext files accessible to several employees. These incidents highlight the risks associated with the firm's approach, which prioritized speed but lacked industry-standard engineering and accounting practices.
Bitcoin and other cryptocurrencies experienced a sixth day of decline, with a previous bullish trend fading, causing them to return to familiar trading ranges.
USDT, the top stablecoin, is experiencing a surge in on-chain activity with a three-month high in active addresses and accumulations by large wallets, while Ethereum's top non-exchange addresses hold a record-breaking 39.22 million ETH.
Coinbase's spot trading volume has dropped by over 50% in Q3 2023, indicating a shift in interest in cryptocurrency trading, while gaining market share as competitor exchanges face increased regulatory scrutiny.
The recent dovish comments by Fed officials have raised hopes of a pause in the rate hike cycle, similar to the situation in early 2019 when Bitcoin surged over 300%, suggesting a potential upside for Bitcoin.
Bitcoin slipped just under 1% in the past 24 hours as bearish calls among analysts, including Jim Cramer, grew, while overall market capitalization lost 0.3%.
Trezor, a leading provider of hardware cryptocurrency wallets, is celebrating its 10th anniversary by launching three new products: the Trezor Safe 3 wallet supporting over 7,000 cryptocurrencies, the Trezor Keep Metal physical private key storage solution, and a limited-edition Bitcoin-only wallet.
Crypto strategist Benjamin Cowen predicts that Bitcoin could fall by at least 8%, which could have a negative impact on altcoins and potentially lead to a significant decline in the altcoin market.
Hardware wallet provider Trezor has launched three new products aimed at helping users securely store and manage their cryptocurrencies, including the Trezor Safe 3 hardware wallet, Trezor Keep Metal recovery seed backup, and a limited-edition Trezor Safe 3 Bitcoin-only wallet. The company hopes to educate users on the importance of self-custody and provide user-friendly products for storing digital assets.
Investment giant BlackRock has filed a legal complaint against the owners of domain names that imitate its own, alleging that they are involved in scams and taking advantage of consumer confusion.
ARK Invest and 21Shares have amended their spot Bitcoin ETF filing, addressing concerns raised by the SEC, indicating progress towards approval.
Former President Donald Trump's endorsement failed to secure Rep. Jim Jordan the Republican party's nomination for the speaker post, leading to his niece Mary Trump's comment that Trump's grip over the GOP is eroding and his endorsement spells doom for whoever accepts it.
FTX's hedge fund, Alameda Research, reportedly lost over $190 million due to avoidable scams and security incidents, including phishing attacks and questionable yield farming on dubious blockchains, as a result of the firm's focus on speed over security, according to a former engineer turned whistleblower. These revelations come amidst the ongoing fraud trial of FTX founder, Sam Bankman-Fried.
The native token of Reddit's Fortnite community, Bricks (BRICK), has surged 110% in the past 24 hours, recovering from its previous loss of 80%, with trading volume reaching $750,000 through Kraken, despite the lack of a clear catalyst and the downward trend of bitcoin.
JPMorgan predicts a potential 20% decline in the Bitcoin Network Hash Rate following the upcoming Bitcoin halving in April 2024, estimating that less-efficient hardware will be decommissioned.
Ethereum staking protocol, Lido Finance, experienced 20 slashing events due to infrastructure and signer configuration issues from validators operated by Launchnodes, resulting in a loss of 20 Ether worth $31,000 and additional penalties.
Cryptocurrency analyst Altcoin Sherpa warns that Fantom (FTM), an Ethereum (ETH) challenger, is likely to see more sell-offs if it loses support at $0.15, while also predicting that Ethereum's value will continue to decline against Bitcoin (ETH/BTC) until hitting support at 0.053 BTC.
Real estate-backed stablecoin USDR lost its peg to the U.S. dollar due to a rush of redemptions, causing a drain on liquid assets and resulting in a price drop to $0.53 per coin, but the project team assures that real estate holdings and digital assets will still support redemptions.
Sam Bankman-Fried's alleged lying and stealing during his time at FTX can be justified by utilitarianism, as testified by Caroline Ellison at Bankman-Fried's fraud trial.
Former top executive Caroline Ellison testified in Manhattan federal court, blaming FTX founder Sam Bankman-Fried for corrupting her values and compelling her to engage in illegal activities such as lying and stealing while describing the collapse of his cryptocurrency businesses as a relief from having to lie anymore.
The Slatest newsletter covers various topics including the colorful details emerging from Sam Bankman-Fried's trial, the options that Israel has after Hamas' attack, the speaker scramble in the House, Simone Biles' latest wins, the scare factor of Netflix's "The Fall of the House of Usher," and a pastor's approach to Halloween.
Seven senators have urged the Treasury Department and IRS to accelerate the implementation of crypto tax reporting requirements, expressing concerns about potential revenue losses and tax evasion by bad actors.
The stablecoin USDR, issued by Tangible, lost its peg to the U.S. dollar and decreased in value by 50% in just a few hours due to concerns about its asset reserves.
JPMorgan's blockchain-based cross-border payments pilot with First Abu Dhabi Bank (FAB) in the Middle East has been successfully completed, following a similar test with Bank ABC in Bahrain, as JPMorgan's Onyx Coin Systems gains momentum in the region.
The Hamas terrorist organization and its affiliates have received millions in cryptocurrency donations, which are difficult to track due to the privacy-preserving nature of cryptocurrencies and are seen as a subterfuge financing method for groups and nations cut off from the global financial system.
Bitcoin tumbled below $27,000 as a four-day rally in stocks and falling bond yields failed to generate buying interest in the cryptocurrency, with analysts predicting a potential fall below $25,000.
Financial markets are under pressure after wholesale inflation data came in higher than expected, raising the likelihood of additional interest rate hikes by the Federal Reserve, while Bitcoin faces selling pressure and shows signs of a potential downward trend according to analysts.
Crypto lending and stablecoin project BarnBridge is facing legal action from U.S. securities regulators, and it is responding by holding a token-holder vote to comply with the demands of the Securities and Exchange Commission (SEC), potentially resulting in the project's shutdown.
Bitcoin tech may be on the verge of a significant transformation with the potential addition of smart contracts, as outlined in the BitVM paper by ZeroSync's Robin Linus, generating excitement in the crypto community. Israeli crypto firms are dealing with disruptions due to Hamas attacks, while more blockchain startups are cutting jobs amidst the ongoing crypto winter.
Investing legend Paul Tudor Jones believes that stocks will decline and favors investing in gold and Bitcoin due to geopolitical tensions and poor fiscal conditions, as well as the deeply inverted yield curve, which traditionally precedes recessions.
Chainlink (LINK) has outperformed Bitcoin (BTC), Ethereum (ETH), and other altcoins since September, becoming the leading decentralized blockchain oracle solution; however, concerns arise as the price faces a 10% correction and breaking the $7.20 support level may erase previous gains. The recent surge in LINK's value can be attributed to successful tests by SWIFT and the Australia and New Zealand Banking Group (ANZ), but changes to Chainlink's multisig and a decline in protocol fees have reduced investor interest.
Hata, a Malaysia-based digital asset exchange and digital broker, has received approval from Securities Commission Malaysia to register as a Recognized Market Operator, making it the fifth regulated digital asset exchange in Malaysia and the first legal entity to receive approval as a digital broker.
Sam Bankman-Fried's ongoing fraud trial in New York has revealed emails showing how he manipulated venture capital investors and pressured Paradigm, a crypto fund, to value his exchange, FTX, at $18 billion instead of $12 billion. The emails also mention potential collaborations with Robert Sarver, the former owner of the Phoenix Suns.
Former Alameda Research CEO Caroline Ellison testified at FTX founder Sam Bankman-Fried's fraud trial, stating that he did not adhere to moral rules like "don't lie" and "don't steal" and that he believed in doing the greatest good for the greatest number of people, making her more comfortable with engaging in wrongful actions.
Fidelity Investments researchers believe that bitcoin is a "superior form of money" with unique value that sets it apart from other cryptocurrencies.