Day: December 23, 2022

SBF to Be Released on $250 Million Bail

SBF will be staying with his parents, both Stanford Law professors until the next hearing happens early next year. Following the extradition to the United States, former FTX CEO Samuel Bankman-Fried (SBF) has been released on a $250 million bail by a New York federal Judge on Thursday. Having received tremendous support from his parent, SBF was escorted out of the US District Court in Manhattan by his legal team and the security guards. Reportedly, SBF will face his next hearing, which will be presided over by Judge Ronnie Abrams,…

Bitcoin Price Poised To Rally Big-Time On PCE Release Today

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The Bitcoin price could see a significant uptick today Friday, December 23 at 8:30 am (EST) if the Core Personal Consumption Expenditures Price Index (PCE) comes in better than expected. And the chances are high! Bitcoin price has been heavily dependent on macro data and the decisions of the U.S. Federal Reserve (FED) lately. The last FOMC meeting of the year on December 13 provided a bearish surprise, even though the consumer price index (CPI) came in better than expected. However, there was a catch. After the FOMC meeting, rumors…

Tesla (TSLA) Shares Slide 8%, Analysts Concerned with Waning EV Demand and Elon Musk’s Twitter ‘Distraction’

Canaccord Genuity cut its Tesla shares price target from $304 to $275 citing “cosmically bad” public sentiment and a “distraught” shareholder base. Tesla Inc (NASDAQ: TSLA) shares closed Thursday’s market trading at $125.35, down 8.88 percent from the day’s opening price. TSLA shares had, however, regained approximately 1.12 percent of the loss during the extended trading session. While the stock and crypto market has experienced a significant sell-off in 2022, analysts argue Tesla shares are feeling the heat of waning electric vehicle (EV) demand. Additionally, Elon Musk’s division of labor,…

MATIC Seen Breaking Present Support With Sustained Momentum

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MATIC has shown rapid accumulation or increase in the supply since the final days of November. More so, there was also an increased demand seen in the derivatives market which could be the outcome of positive Binance Funding Rate on the MATIC/USDT pair. CoinMarketCap data shows that MATIC price is now up by 1.48% or trading at $0.8019 at the time of writing. With the rate it’s going, Polygon could further retest of even breach the present support level with sustained momentum. Price still could potentially slide further towards $0.7736…

New NFT private auction scam threatens OpenSea users

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As nonfungible tokens (NFTs) became more popular, bad actors who constantly try to exploit users within the space have become more active. Now, a new hack involving a feature on the NFT marketplace OpenSea threatens NFT holders through phishing sites.  In an announcement, anti-theft project Harpie warned NFT users of a new hack involving gasless sales on the OpenSea platform. According to Harpie, hackers were able to steal millions in digital assets by exploiting the feature. When users want to conduct gasless sales within the OpenSea platform, they are required…

OKX Unveils 2nd Proof-of-Reserves Report, Promises Monthly Publication

Proof of reserves is an audit method adopted by cryptocurrency exchanges in the aftermath of FTX’s collapse to prove that the custodian, in this case, OKX, isn’t lending out customer funds, as FTX did, and has the assets it claims to hold on behalf of its users. They have, nevertheless, been criticized for not providing information about liabilities and internal quality controls, a focal point in the crypto community. For instance, Binance’s recent proof of reserves report from French audit firm Mazars was criticized for lack of details about the…

Italy and Albania Bust €15 Million Crypto Investment Scam – Bitcoin News

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Authorities in Italy and Albania have hit a fraud scheme enticing victims with promises of low-risk investments in cryptocurrencies. During an operation coordinated by Eurojust, investigators from the two countries searched a dozen locations and seized assets and computer equipment. Fraudsters Contacted Investors From a Call Center in Tirana, Albania Law enforcement officers in Italy and Albania have taken down an online fraud scheme offering fake investment opportunities related to cryptocurrencies. The investigation was carried out with the support of Eurojust, the EU agency responsible for judicial cooperation in Europe.…