Day: December 30, 2022

The Impact of Avraham Eisenberg’s Case on the Future of Crypto

Many observers, and perhaps a jury, will say Eisenberg is a criminal and thief. And the fact pattern – all visible on the blockchain, detailed by Eisenberg’s own self-congratulatory tweets and described in SDNY’s criminal complaint – indicates he did indeed violate the letter of the law that prohibits market manipulation. However, it’s easy to imagine a scenario where without Eisenberg’s operation, the Mango protocol grows much larger and attracts more retail users, and it is North Korea, not Eisenberg, that exploits the protocol to drain user funds to pay…

Solana and Associated Tokens Down Over 96% From All-Time Highs As SOL Gets Delisted From Crypto Exchange

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Smart contract platform Solana (SOL) and other digital assets associated with it continue to freefall as a crypto exchange platform announces it’s going to delist them. According to crypto reporter Colin Wu, crypto exchange Matrixport will delist SOL and its accompanying digital assets starting December 30th, a move that sent the already-ailing cryptocurrencies on another downswing. Wu says that Matrixport will also not consider launching SOL products in the future. “Matrixport, the asset management platform founded by Jihan Wu, announced that it will delist SOL and SOL-U dual-currency investment products…

3 reasons why Bitcoin is likely heading below $16,000

December will likely be remembered by Bitcoin’s (BTC) fake breakout above $18,000, but apart from that brief overshoot, its trajectory was entirely bearish. In fact, the downward trend that currently offers an $18,850 resistance could bring the BTC price below $16,000 by mid-January. Bitcoin/USD price index, 12-hour. Source: TradingView A handful of reasons can explain the negative movement, including the reported withdrawal of Mazars Group auditing firm from the cryptocurrency sector on Dec. 16. The company previously handled proof-of-reserve audit services for Binance, KuCoin and Crypto.com. Additionally, one can point…

Bitcoin ‘not undervalued yet’ says research as BTC price drifts nearer $16K

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Bitcoin (BTC) may not be good value enough for a macro price bottom, according to analysis from CryptoQuant. In a blog post on Dec. 29, a contributor to the on-chain analytics platform flagged one BTC price indicator with further to fall. Profitability indicator lacks key cross At nearly 80% below all-time highs, BTC/USD is nearing the zone in which it bottomed during previous bear markets. As CryptoQuant’s MAC_D notes, there is no shortage of instruments pointing to the 2022 bear market bottom already forming. Despite this, however, the signs are…

What is USD Coin (USDC), fiat-backed stablecoin explained

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USDC offers instant payments, saves users from the cryptocurrency market’s price volatility and is audited by a regulated auditing firm, making it a transparent stablecoin. However, it does not offer price appreciation opportunities, and investors may incur high transaction and withdrawal fees while dealing with USDC. One of the key advantages of the USD Coin is the speed of the transaction. Usually, one must wait a long time to send and receive USD because institutions such as banks and their complex procedures slow down the processing of transactions. Nonetheless, USDC…

Hall of Flame – Cointelegraph Magazine

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Name: Mati GreenspanAnonymous: NoTwitter followers: 48,000Known for: The “face” of eToro for years, Greenspan is a rare moderate voice on Crypto Twitter. Who is this guy anyway? The friendly but cynical Mati Greenspan became a well-known crypto market commentator in publications such as Forbes, Bloomberg and The Wall Street Journal as a senior market analyst for eToro until he set off on his own by founding research and advisory firm Quantum Economics in 2019. He’s been on Cointelegraph’s Top 100 Notable People in Blockchain for the last two years. Unlike…

FTX Japan to Refund Customers & Shut Down Operations in Q1 2023

FTX Japan has created systems to refund crypto assets to customers after suspending withdrawals in the previous month. According to reports, FTX Japan looks to refund customers from February next year following the spectacular FTX crash. In a statement, the exchange’s Japanese subsidiary explained that it is developing a process that facilitates customer recovery of stuck assets.  Local crypto exchange Liquid Japan would be instrumental in this fund recovery phase. FTX had previously acquired Liquid Japan in an undisclosed deal in the spring.  The FTX Japan refund announcement read: “For the assets entrusted to…