Day: January 26, 2023

Examiner could cost $100M and ‘provide no benefit’

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An investigation into FTX’s collapse by an examiner could cost the firm upwards of $100 million without providing any benefit to creditors or equity holders, argues lawyers representing the bankrupt crypto exchange.  The arguments were part of a Jan. 25 objection to a motion from the United States Trustee in December, which called for the judge to appoint an independent examiner to ensure any investigations are transparent and their findings made public. This will be fascinating. 4 Senators submitted a letter asking for an Independent Examiner. Will they do more?…

Solana Rally Could Gather Pace above $30

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Solana is surging above $20 against the US Dollar. SOL price could extend its rally above the $26 and $30 resistance levels in the near term. Sol price started a fresh increase above the $20 and $22 levels against the US Dollar. The price is now trading above $22 and the 100 simple moving average (4-hours). There is a major bullish trend line forming with support near $23.05 on the 4-hours chart of the SOL/USD pair (data source from Kraken). The pair could rise further if it stays above the…

Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

Ethereum corrected lower sharply and tested $1,500 against the US Dollar. ETH started a fresh increase and is now trading above the $1,600 pivot level. Ethereum is gaining pace above the $1,580 and $1,600 levels. The price is now trading above $1,600 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,615 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise further if it stays above the $1,600 and $1,580 support levels. Ethereum Price…

FTX creditor list shows airlines, charities and tech firms caught in collapse

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A complete list of the creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a myriad of companies and government entities wrapped up in its collapse. Late on Jan. 25, lawyers for FTX filed its creditor matrix to the United States Bankruptcy Court for the District of Delaware. The massive 115-page document details the names of its creditors in alphabetical order. The list reveals the sprawling global web of companies from airlines, hotels, charities, banks, venture capital firms, media outlets and crypto companies along with U.S.…

Binance Processed $346 Million for Crypto Exchange Bitzlato, Report Claims – Exchanges Bitcoin News

Cryptocurrency exchange Binance has reportedly processed nearly $346 million in crypto transactions for Bitzlato, the coin trading platform that was shut down in an international law enforcement operation. U.S. authorities say the world’s largest trading platform for digital assets was among Russian-owned Bitzlato’s major counterparties. Blockchain Data Indicates Binance Moved Over 20,000 BTC for Bitzlato Since 2018 The global leader in the crypto trading sector, Binance, has allegedly transferred cryptocurrency worth almost $346 million for the Hong Kong-based Bitzlato, Reuters reported quoting data from Chainalysis. Bitzlato was a little known…

Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

Bitcoin price started a fresh increase from the $22,400 support zone. BTC climbed to a new yearly high and now aims more upsides above $24,000. Bitcoin started a fresh increase after forming a base near the $22,400 support zone. The price is trading above $23,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $23,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the…

Bitcoin Tops $23.7K in Wednesday Comeback

Rust: Big tokens, especially bitcoin, and any ether are going to do well. We’re going to see a faster recovery in the crypto markets than we will see in the traditional finance market. ETH is now deflationary while the chain is seeing hugely increased activity on top of Ethereum developer engagement, faster improvements to the Ethereum network itself, and faster settlement associated with all of the activities. Despite the unlocking of staked ETH coming in with the Shanghai release, a lot of people would be surprised how a large portion…

Web3 Developer Platform Alchemy Releases Transaction Simulation Product

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Moonbirds creator Kevin Rose loses $1.1M+ in NFTs after 1 wrong move

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Kevin Rose, the co-founder of the nonfungible token (NFT) collection Moonbirds, has fallen victim to a phishing scam leading to more than $1.1 million worth of his personal NFTs stolen. The NFT creator and PROOF co-founder shared the news with his 1.6 million Twitter followers on Jan. 25 asking them to avoid buying any Squiggles NFTs until they manage to get them flagged as stolen. I was just hacked, stay tuned for details – please avoid buying any squiggles until we get them flagged (just lost 25) + a few…

Circle denies blaming SEC for shuttered $9B plan to go public

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A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December. The stablecoin issuer representative was responding to a Jan. 25 Financial Times article which characterized Circle as having “blamed” the securities regulator for its “derailed” listing as a result of dragging its feet on the approval of a merger agreement. However, a Circle spokesperson clarified to Cointelegraph that was not the case and that it doesn’t hold any blame over…