Day: January 6, 2023

FTX customers want more info on FTX’s plans to sell subsidiaries

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A group of FTX customers has filed a limited objection to FTX’s plan to sell four independently operated subsidiaries, arguing that they should be privy to the sales process to ensure thcustomer interests are represented.  The group has also shared concerns that “misappropriated customer funds” may have been used to acquire or keep these firms running. The limited objection was filed on Dec. 4 by an ad hoc committee of non-U.S. customers, which comprises 18 members who collectively have claims against FTX in excess of $1.9 billion. In its filing,…

Wash trading will cause crypto’s next implosion: Mark Cuban

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Crypto token wash trading on centralized exchanges will be the cause of the next crypto “implosion,” according to billionaire Dallas Mavericks owner and crypto investor Mark Cuban. In an interview with The Street on Jan. 5, the billionaire investor opined that 2023 will not be short of crypto scandals following the numerous fiascos that rocked 2022. Cuban, who has backed several crypto and Web3 startups, said he believes the next biggest thing to impact the industry will be “the discovery and removal of wash trades on central exchanges.” “There are supposedly…

This Crypto Strategist Foresees A Bitcoin Price Reversal Soon

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Bitcoin analysts are following up on BTC price trends as the 2022 bear market drags into the beginning of 2023. The crypto market is slightly recovering from the FTX fiasco that caused most of the crypto assets to plunge. According to a famous crypto analyst, Kelvin Svenson, one technical indicator could end Bitcoin’s bear market. In a video update, Svenson noted that BTC’s weekly relative strength index (RSI) is about to break out from its diagonal resistance. The RSI measures the ratio of ups and downs movements in the crypto…

Cathie Wood’s ARK Invest Buys About $5M of COIN, Continuing Her Dip-Buy Parade

CryptoX – Cryptocurrency Analysis and News Portal Cathie Wood’s Ark Invest grabbed another $5 million of Coinbase (COIN) shares on Thursday, as she continues to show confidence in the crypto exchange even as its share price falls. It closed down 11% on Thursday at $33.53. It fell almost 90% in 2022. Source The post Cathie Wood’s ARK Invest Buys About $5M of COIN, Continuing Her Dip-Buy Parade appeared first on CryptoX. CryptoX Portal

Why isn’t there a VR client yet for Decentraland or The Sandbox?

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The metaverse and virtual reality (VR) go hand in hand in the public’s imagination and platforms including Somnium Space, Crypto Voxels and Meta’s Horizon Worlds already support the technology. But despite describing itself as a “decentralized virtual reality platform” on its website, the browser-based 3D metaverse platform Decentraland still lacks VR. Sean Ong, founder of extended reality specialists XR Dev Studio, sits on a team that has developed an “alpha” version of the VR platform. He explained that while “VR has always been part of Decentraland’s vision,” the Decentraland Foundation…

US Government Seizes Robinhood Shares Linked to FTX Founder Sam Bankman-Fried – Regulation Bitcoin News

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The U.S. Department of Justice (DOJ) is in the process of seizing Robinhood shares, worth about $460 million, that are linked to former FTX CEO Sam Bankman-Fried (SBF). “We believe that these assets are not property of the bankruptcy estate or that they fall within the exceptions … of bankruptcy code,” a DOJ attorney told the judge overseeing the FTX bankruptcy case. DOJ Seizing Robinhood Shares Linked to FTX The U.S. government is in the process of seizing 56 million shares of Robinhood Markets Inc. (Nasdaq: HOOD), worth about $460…

Ethereum Price Consolidates Gains, Why ETH Could Start Another Increase

Ethereum climbed higher and tested the $1,275 resistance zone against the US Dollar. ETH is consolidating gains and might aim a fresh move above the $1,300 resistance. Ethereum struggled to climb higher above the $1,275 and $1,280 resistance levels. The price is now trading above $1,230 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $1,230 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if the price stays above the $1,220 support…