Month: January 2023

SEC commissioner reminds of ‘the point of crypto’ as market aims for recovery

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Hester Peirce, a commissioner on the Securities and Exchange Commission (SEC), says that after a terrible year, industry players need to remember what crypto is really about. In a speech at the Digital Assets at Duke conference, Peirce laid down some lessons to be learned from the issues that the crypto industry had to face last year. According to the commissioner, 2022 was a “terrible, horrible, no good, very bad year” for both the crypto space and regulators. However, Peirce believed there are valuable takeaways from the series of problems…

Whales Bag 500 Million Dogecoin

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Meme coin forerunner, Dogecoin, opens the week with a new rally amid Robinhood’s support. Reports reveal that several whales jumped on the positive market sentiment to accumulate massive amounts of DOGE, triggering a 5% rally in the last day. According to WhaleAlert, Whales packed more than 500 million Dogecoin over the past two days. The tracker revealed that the largest holder of Dogecoin also partook in the accumulation and bagged almost 165 million DOGE coins. In addition, a top 20 whale also transferred 150 million Dogecoin tokens worth more than…

Microsoft Layoffs Reportedly Hit Key VR and Metaverse Teams – Metaverse Bitcoin News

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The latest round of layoffs at Microsoft, which announced it will cut 10,000 jobs this year, has hit key teams for its VR (virtual reality) and metaverse efforts, according to reports. The company will close two projects in these areas, Altspacevr and the Mixed Reality Tool Kit, potentially affecting the progress of Microsoft in these areas. Microsoft VR and Metaverse Teams Hit by Layoffs The latest round of layoffs announced by Microsoft on Jan. 18, has reportedly hit metaverse and VR (virtual reality) initiatives of the company, potentially affecting progress…

Swiss Bank Cité Gestion Becomes First Private Bank to Tokenize Its Own Shares

Tokenization of Cité Gestion’s shares was carried out in accordance with standards established by the Capital Markets and Technology Association (CMTA), a Geneva based not-for-profit organization, the bank said in the statement. “Taurus and the application of the CMTA standards ensure that an adequate risk management framework is at the heart of the process,” said Christophe Utelli, Deputy CEO of Cité Gestion. Source

Key Upside Break Could Trigger Rally To $0.5

Ripple is rising steadily above the $0.380 resistance zone against the US Dollar. XRP price could rise further if it clears the $0.4320 resistance zone. Ripple is currently rising above the $0.38 resistance zone against the US dollar. The price is now trading above $0.380 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.3960 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could rally further if there is a clear move above the $0.4320…

BlockFi to sell $160M in Bitcoin miner-backed loans: Report

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Bankrupt crypto lending firm BlockFi has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings, according to reports. In a Bloomberg report on Jan. 24, two people “familiar with the matter” claim that BlockFi started the process of selling off the loans last year. The crypto lender filed for Chapter 11 bankruptcy in Nov. 2022, citing its significant exposure to the now-defunct crypto exchange FTX for its downfall. However, some of these loans have already defaulted since then and could…

Wormhole hacker moves $155M in biggest shift of stolen funds in months

The hacker behind the $321 million Wormhole bridge attack has shifted a large chunk of stolen funds, with transaction data showing that $155 million worth of Ether (ETH) was transferred to a decentralized exchange (DEX) on Jan 23. The Wormhole hack was the third largest crypto hack in 2022, after the protocol’s token bridge suffered an exploit on Feb. 2, 2022, that resulted in the loss of 120,000 Wrapped ETH (wETH) around worth $321 million. According to the transaction history of the hacker’s alleged wallet address, the latest activity shows…

Ethereum Price Forms Bullish Continuation Pattern and Could Rally Again

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Ethereum is consolidating gains above $1,600 against the US Dollar. ETH is showing positive signs and might start another increase above $1,650. Ethereum is showing positive signs above the $1,620 and $1,600 levels. The price is now trading above $1,600 and the 100 hourly simple moving average. There is a key bullish flag forming with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rally again if it clears the $1,640 and $1,650 resistance levels. Ethereum Price Could Pop Higher Ethereum price started…