Day: December 4, 2022

Thanks to Ethereum, ‘altcoin’ is no longer a slur

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Altcoin originally meant “Bitcoin alternative” because, in the early stages of cryptocurrency development, every blockchain-based currency was seen as a sort of Bitcoin (BTC) knockoff. Cryptocurrencies back then were mainly used for payments, such as Litecoin (LTC), XRP (XRP) and Peercoin (PPC). Altcoin was used as a catchall term for cryptocurrencies other than Bitcoin.  That’s changed since 2011. With the emergence of more than 20,000 cryptocurrencies, each linked to different types of crypto projects and tokens. We have also seen the dexterity of coins stretch across sectors of public chains,…

Alameda Research CEO Caroline Ellison Reportedly Spotted at a Coffee Shop in Manhattan With FTX Dog ‘Gopher’ – Bitcoin News

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On Dec. 4, 2022, the Twitter account and citizen journalist called Autism Capital shared two pictures of a woman that closely resembles the Alameda Research CEO, Caroline Ellison. The pictures were taken at a coffee and sandwich shop in Manhattan at 8:15 a.m. (ET). Citizen Journalist Reportedly Spots Alameda’s Caroline Ellison in New York According to a tweet published by the Twitter account dubbed Autism Capital, Alameda Research’s top executive may have been spotted in New York. Autism Capital wrote: “PLEASE CONFIRM: A user claims that they spotted Caroline Ellison…

Genesis Creditor Groups’ Loans Amount to $1.8B and Counting: Sources

The Proskauer group takes the tally to $1.8 billion, with more to come in the form of a third ad hoc group being represented by Kirkland & Ellis, the law firm representing bankrupt crypto firms Celsius and Voyager Digital, the second source said. The amount of loans this third group is owed is not known. In addition, the Gemini customers group is being represented by law firm Latham & Watkins, the second source said. Source

Bitcoin’s Third Largest Wallet Changed Hands, but Onchain Data Shows It’s Likely the Same Owner – Featured Bitcoin News

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Last year and during the first half of 2022, speculators assumed the third-largest bitcoin address was a ‘mysterious whale,’ even though the wallet had shown strong characteristics of being a cryptocurrency exchange. The address known as “1P5ZED” has since been replaced by another address, after the wallet started to transfer its entire bitcoin balance in mid-July 2022. The bitcoin address “1LQoW” is now the third-largest wallet today, and it’s very likely that the owner of the 1LQoW wallet is the same entity that managed the 1P5ZED wallet. The Third Largest…

Crypto Declared Dead Yet Again As Bitcoin Hits All-Time High In Long-Term Investor Holdings

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BTC Conviction is at an all-time high as long-term investors keep adding to their BTC stack unfazed by the recent news and fallouts according to data from Glassnode. Crypto has been declared dead quite a few times as Fear and Uncertainty is at highs in the crypto industry. Although low conviction holders may have left, sellers may still be here due to miner capitulation, taxes or inflation fears. We have witnessed one of the most intense months in the crypto industry, with FTX’s fallout and other key players that followed,…

Bitcoin price consolidation could give way to gains in TON, APE, TWT and AAVE

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The United States equities markets shrugged off the hotter-than-expected labor data on Dec. 2 and recovered sharply from their intraday low. This suggests that market observers believe the Federal Reserve may not change its stance of slowing the pace of rate hikes because of the latest jobs data. Although the FTX crisis broke the positive correlation between the US equities markets and Bitcoin (BTC), the recent strength in the equities markets shows a risk-on sentiment. This could be favorable for the cryptocurrency space and may attract dip buyers. Crypto market…

Web3 Crypto Onboarding Platform Transak Integrates With Coinbase Wallet – Wallets Bitcoin News

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According to Transak, users of the Coinbase self-custody wallet in South East Asia can now use its Web3 onboarding platform “as a fiat on-ramp to buy crypto.” Transak’s integration with the Coinbase wallet is coming at a time when more users are becoming “aware of the importance of keeping their assets safe, secure, and in their control.” Overcoming Barriers to Non-Custodial Wallets Transak, a Web3 onboarding infrastructure provider, recently said that users of the Coinbase wallet can now use its platform “as a fiat on-ramp to buy crypto.” According to…

AAX clients storm exchange’s office in Lagos following operational halt

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Nigerian customer’s of the crypto exchange AAX reportedly attacked the company’s office in Lagos and harassed its employees, in a response for the recent halt of withdrawals, according to local reports from Dec. 3.  Although it’s unclear when the assault happened, the Nigerian Blockchain Technology Association Stakeholders (SiBAN) confirmed the storm in an announcement on Nov. 28, urging angry users to be patient with the exchange’s workers, who were also impacted by the issues. SiBAN noted: “Therefore, we appeal to and discourage any dissatisfied or angry user or investor from…

Margin trading vs. Futures: What are the differences?

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Margin trading aims to amplify gains and allows experienced investors to potentially get them quickly. They may bring dramatic losses, too, if the trader doesn’t know how they work. When trading on margin, crypto investors borrow money from a brokerage firm to trade. They first deposit cash into a margin account that will be used as collateral for the loan, a kind of security deposit.  Then they start paying interest on the borrowed money, which can be paid at the end of the loan or with monthly or weekly installments,…

The Crypto 6 Case Heads to Trial With Only 1 Defendant Left, Prosecutor’s So-Called ‘Expert’ Excluded – Bitcoin News

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On Dec. 6, 2022, the “Crypto Six” case will be heading to trial, and out of all six defendants, only Ian Freeman, co-host of the radio broadcast Free Talk Live, has not accepted a plea bargain. According to the most recent hearing, Freeman’s legal counsel filed a Daubert motion, which aims to exclude the government’s expert testimony, as it’s been argued that private firms and closed-source software used in blockchain analysis don’t meet the Daubert standards of admissible evidence. The Crypto 6 Trial Is Scheduled to Begin on Dec. 6,…