Month: January 2023

Will Dogecoin Dip To Local Support As Coin Trades Sideways?

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Dogecoin started losing value as soon as it fell outside its ascending parallel channel. At the moment, Dogecoin is trading laterally. Over the last 24 hours, DOGE went up by 0.3%, which confirms that the coin was stuck in a consolidated price region. Last week, Dogecoin brought in close to 4% gains. The technical outlook for the Dogecoin price depicted that bearish momentum had set in. Demand and accumulation for the meme-coin depreciated when it started to trade sideways. The meme coin noted a price pullback after it breached the…

City of Busan to establish digital assets exchange: Report

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According to local news outlet News1, Busan, South Korea will establish a decentralized digital commodities exchange. Officials said the platform is scheduled to start operations this year and will support local cultural content via digital assets. “Taking advantage of the strengths of Busan, such as the Busan International Film Festival, G-Star; [the exchange] will include tokenization of intellectual property rights in the film and game fields, as well as gold, precious metals, agricultural and livestock products, ships, real estate, etc.” As told by the Busan Digital Asset Exchange Establishment Promotion…

Bitcoin (BTC) Fights To Regain $21,000 Amid Genesis Rumors and Charges Against Little-Known Crypto Exchange

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Bitcoin (BTC) is on the cusp of regaining $21,000 as charges are filed against a little-known crypto exchange platform and rumors swirl around embattled crypto lender Genesis. In a new press release, the U.S. Department of Justice (DOJ) is announcing charges against Hong Kong-based crypto exchange Bitzlato and its founder, Russian national Anatoly Legkodymov. The DOJ alleges that Legkodymov failed to maintain proper regulatory safeguards, including having substandard anti-money laundering practices. As stated by Assistant Attorney General Kenneth A. Polite in the press release, “As alleged, the defendant helped operate…

Does the Bitzlato ‘Nothingburger’ Spell Bad News for Binance?

That doesn’t necessarily mean Bitzlato was not “the China-based money laundering engine that fueled a high-tech axis of cryptocrime,” as the FBI alleges. After all, darknet transactions are supposed to be secretive. But at its height, the exchange only held $6 million in funds – a remarkably miniscule amount. Likewise, similar Web searches show how little traffic the so-called crime hub had. Source BadBinanceBitzlatoNewsNothingburgerSpell CryptoX Portal

Grayscale Bitcoin Trust could double by midyear: Ned Davis Research

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Crypto is off to a hot start in 2023, and an embattled bitcoin fund gives investors a tool to squeeze more out of this rally, according to Ned Davis Research. Pat Tschosik, a senior portfolio strategist at the firm, said in a note to clients that the Grayscale Bitcoin Trust (GBTC) could give investors a 100% return by midyear. Bitcoin has rallied more than 25% to start the year and is trading above $20,000 again. The largest cryptocurrency appears to have broken out of its long slump, Tschosik said. “We…

New FTX CEO Discusses Possibility of Rebooting Defunct Crypto Exchange in First Interview Since Taking Over – Bitcoin News

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Following recent disclosure that FTX debtors and bankruptcy administrators located $5.5 billion in liquid assets, the new FTX CEO John J. Ray III discussed the business in his first interview since taking over the exchange’s restructuring process. Ray detailed during the interview that he is open to the possibility of reviving the now-defunct digital currency trading platform. FTX CEO John J. Ray III Explores Reviving the Fallen Crypto Exchange The new FTX CEO and chief restructuring officer (CRO), John J. Ray III, conducted his first interview since the company filed…

Bitcoin miner CleanSpark expands operations in Georgia

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Bitcoin (BTC) miner CleanSpark is expanding operations in the state of Georgia, adding to its mining capacity despite the ongoing bear market.  Groundbreaking on a new 50-megawatt Bitcoin mining facility in the city of Washington, Georgia, is underway, with expected completion in late spring, CleanSpark disclosed on Jan. 19. The nearly $16 million expansion is expected to increase the company’s hash rate by 2.2 exahashes per second, with total hash rate reaching as high as 8.7 EH/s. The expanded facility will host up to 16,000 miners, including newly added Antminer…

Sports NFT Firm Candy Digital Raised Over $38M Amid Founder Strife

According to the filing, Candy Digital had raised $38,449,997 from 14 investors in an equity offering, more than half of the $68,188,480 overall that the company is seeking to raise in the sale. The offering opened on Jan. 3 – the day before CNBC reported that Fanatics was selling its stake to a group led by well-known financier Michael Novogratz’s Galaxy Digital. Source