Day: January 4, 2023

US Federal Regulators Warn About Crypto Activities

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The crypto space received more regulatory attention through the end of 2022. The collapse of one of the largest global digital asset exchanges brought massive losses to the industry. This event spurred several watchdogs to express concerns and issue warning on cryptocurrency engagement. Some US Federal regulators have recently commented on crypto activities’ risks. The watchdogs include the Federal Reserve, Federal Deposit Insurance Corp, and the Office of the Comptroller of the Currency (OFOC). According to the report on Tuesday, January 3, 2023, some officials of the three regulatory agencies…

Bitcoin Whales are in Accumulation Mode – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK).  Despite the bearish price action we have seen over the past year, Glassnode data indicates that Bitcoin whales have continued to accumulate. According to Glassnode, Bitcoin whale addresses (number of Bitcoin addresses above 10,000 Bitcoin) has risen sharply this year, as shown below. This means there is a significantly larger portion of Bitcoin whales now compared to the start of the year, as whales have decided to accumulate more Bitcoin whilst It is discounted. MicroStrategy is one Bitcoin…

SEC Pursues $45M Scam Based in Fake Blockchain Technology

“We allege the defendants falsely claimed access to valuable blockchain technology and that the imminent sale of the technology would generate investment returns of more than 500,000 times for investors,” said Daniel Gregus, Director of the SEC’s Chicago Regional Office. The money actually went to purchase luxury cars, real estate and a boat for the personal use of Chandran and the others, in addition to being misappropriated for his other businesses, according to the SEC and Department of Justice. Source

Bitcoin MVRV Ratio Falls To Three-Year Lows

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Bitcoin is still stalling in terms of its price movement and has not made any significant jumps in the past couple of weeks. However, there could be a change in the trajectory of the digital asset in the coming weeks as the Bitcoin MVRV Ratio could be announcing a bottom signal. Bitcoin MVRV Ratio Reaches 2019 Lows Co-founder and CEO of on-chain data analysis firm Cryptoquant recently took to Twitter to share an interesting chart. The image showed that the bitcoin MVRV Ratio has fallen to levels that have not…

US authorities are seizing $460M in Robinhood shares tied to FTX: Report

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The United States Departure of Justice has reportedly seized or was in the process of seizing more than $400 million worth of Robinhood shares linked to FTX as part of the case against the crypto exchange. According to a Jan. 4 report from Reuters, U.S. officials told a judge they were in the process of seizing assets tied to FTX and its former CEO Sam Bankman-Fried, which included 56 million shares of Robinhood — worth roughly $468 million at the time of publication. The report followed a judge in the…

Bonk token goes bonkers as traders chase after high yields in the Solana ecosystem

Bonk, a meme token modeled after Shiba Inu (SHIB) that launched on Dec. 25, 2022, and some traders believe the token’s trading volume is potentially driving Solana (SOL) price up. Over the past 48-hours, SOL price has gained to 34% and Bonk is up 117% in the past 24-hours according to data from CoinMarketCap. While the wider crypto market remains suppressed, traders are hoping that Bonk could present new opportunities during the downturn.  According to the project’s website, Bonk is the first dog token on the Solana blockchain. Initially, 50%…

Core Scientific to Shut Down 37,000 Bitcoin Mining Rigs Belonging to Bankrupt Crypto Lender Celsius – Mining Bitcoin News

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Core Scientific plans to shut down 37,000 bitcoin mining rigs belonging to now-defunct crypto lender Celsius, according to an agreement between the two bankrupt firms. Celsius owes Core Scientific approximately $7.8 million for energy and hosting costs, as the crypto lender has been unable to make regular payments as outlined in the hosting contract. Celsius Owes Core Scientific $7.8 Million for Energy and Hosting Costs Lawyers representing bankrupt bitcoin mining operation Core Scientific have told the court that crypto lender Celsius has not made payments on its mining machine hosting…

Fanatics Selling Its 60% Stake in Sports NFT Firm Candy Digital: Report

But Fanatics’ CEO Michael Rubin wrote in the internal email that “Divesting our ownership stake at this time allowed us to ensure investors were able to recoup most of their investment via cash or additional shares in Fanatics – a favorable outcome for investors, especially in an imploding NFT market that has seen precipitous drops in both transaction volumes and prices for standalone NFTs.” Source