Bitcoin Price Is Facing A ‘Pump And Whack’ Ranging Market

The Bitcoin price has responded to yesterday’s release of the FOMC Minutes with a brief bounce to $16,990, only to revert back to the previous range of around $16,800 shortly after, within 30 minutes. And this trend could continue in the weeks and months ahead. Macro analyst Alex Kruger stated: Welcome to the 2023 Pump and Whack ranging market. Markets pump on falling inflation, and the Fed whacks it. The analyst based his opinion on a series of tweets from the chief economics correspondent at The Wall Street Journal, Nick…

SEC Slams Neil Chandran, 4 Others with Fresh Charges in $45M Blockchain Scam

The regulator will seek to fine appropriately, all the parties involved, and recover whatever is left of the stolen investors’ funds. The US Securities and Exchange Commission (SEC) has newly charged Neil Chandran and four other associates for orchestrating a fraudulent scheme. According to the press release, Chandran and others successfully convinced tens of thousands of investors around the world about securing a highly profitable deal. The deal revolved around selling fake blockchain technology. However, the false promises eventually saw the bad actors scam their victims for well over $45…

Salesforce to Dismiss 10% of Workforce after Hiring ‘Too Many People’ during Pandemic

The software company said it would contact impacted workers, and affected teams would receive clarity on organizational changes. In the wake of tech companies cutting expenses, software company Salesforce Inc (NYSE: CRM) has revealed plans to cut 10% of its workforce. The cloud-based company also intends to shut down some offices in specific locations in addition to firing thousands of staff. In a letter to employees, Salesforce CEO Marc Benioff referred to the challenging environment as the reason to dismiss the workers over the coming weeks. The impacted employees are…

SEC Puts Objection to Binance.US $1 Billion Acquisition Deal for Voyager Assets

The SEC wants to know how Binance.US is going to facilitate such a huge transaction. Last month, Binance.US proposed a $1 billion acquisition deal to get its hands on the assets of bankrupt crypto lender Voyager Digital. Although Voyager was ok with proceeding with the deal, the US Securities and Exchange Commission (SEC) has now come in the way. On Wednesday, January 4, the SEC filed a limited objection over the acquisition while questioning the adequacy of the information furnished by Binance.US in its disclosure statement. The SEC has specifically…

Fake Solana NFTs Are Circulating on Popular Marketplace Magic Eden

An exploit on Magic Eden led to the creation of fake NFTs for the popular ABD and y00ts collections. Magic Eden has said to have resolved the issue for now. On Wednesday, January 4, there was a major exploit reported on the popular NFT marketplace Magic Eden with scammers able to pass off and sell several Solana-based fake NFTs on the platform. The NFT community members created a buzz on Twitter, after allegedly spotting fraudulent NFTs listed from popular collections like ABC and y00ts. The scammers also apparently managed to…

Bank of England answers professionals’ questions about upcoming CBDC wallet

Companies that applied to win over the $244,000 contract to develop a central bank digital currency (CBDC) wallet proof of concept (PoC) for the Bank of England (BOE) provided questions about the project. In response, the central bank published its answers to over 70 questions.  On Dec. 9, the BOE opened applications asking suppliers to submit applications. About 20 companies submitted their applications and handed in their questions before Dec. 25. Following this, the BOE published the questions asked by the competing providers and gave its answers that aimed to…

Chinese Tech Stocks Surge with Approval of Ant Group Capital Plan

Investors celebrated over the hope of a positive regulatory environment for private tech companies in China going ahead. On Wednesday, January 4, stocks of the US-listed Chinese tech companies soared after Chinese officials approved the expanded capital plan for Ant Group. After a major crackdown by Chinese officials on the local tech industry over the last two years, this move confirms some relaxation in the policy. Chinese Tech Stocks Investors on Wall Street cheered citing the possibility of a relaxed regulatory environment in China. Citing regulatory concerns, the Ant Group…

US Bankruptcy Court Rules Celsius Deposits Belong to the Firm – Regulation Bitcoin News

A New York bankruptcy court has ruled the deposits on high-interest-earning accounts belong to Celsius, the embattled former cryptocurrency lending firm, that filed for Chapter 11 bankruptcy protections in July. The decision establishes a precedent that might affect the status of other, similar cases involving crypto companies like Blockfi and FTX. Celsius Obtains Ownership of User Deposits A U.S. bankruptcy court has made a key ruling in the conflict that Celsius, a former cryptocurrency lending firm, and its customers, maintain over the ownership of deposits. Judge Martin Glenn, of a…