The highest NVT ratio for bitcoin that I found on record was 448.15 on Aug. 29, 2010. Was it overvalued? Well, BTC traded for about 6 cents at the time, and is around $22,000 now, so the relevance of this reading is a bit dubious in my opinion. What if we toss out all data before 2014? That gives a maximum NVT ratio of 98.52, which I think is more sensible. Bitcoin’s lowest NVT on record was 0.22 on Jan. 24, 2016, when BTC was trading at $403. The average…
Though it may not seem like it at first, money has undergone a lot of changes throughout its history. What once started as bartering and trade by early humans has transformed into the complex global economy that we know today. And while paper currency and coins have been the most popular forms of money for centuries, it seems that a new form of money is on the rise – Bitcoin. Source – Moneysque Bitcoin is a digital currency that was created in 2009. Unlike traditional forms of money, Bitcoin is…
Representatives for FTX said whether assets belong in the Bahamian estate or in the U.S. estate remain open issues. Source
Bitcoin (BTC) hit its highest in almost a week on Feb. 15 as “extremely positive” economic data boosted risk asset sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price aims for $23,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 2.2% on the day to eye a reclaim of $23,000. Analysts were already predicting volatility, with the latest economic numbers from the United States delivering a pleasant surprise. Retail sales and the Empire State Manufacturing Index both surpassed market expectations, showing a more resilient economy despite restrictive policy…
“I don’t think we’ve reached a 100% final conclusion there, but given the fact that the examiner report reveals in great detail how the price of CEL token was manipulated, we’ve really struggled with how to treat the CEL token and what is a fair value to ascribe to it,” Celsius’ lead attorney, Kirkland & Ellis’s Ross Kwasteniet, told U.S. Bankruptcy Judge Martin Glenn. Source
The Indian sports’ stance follows last year’s partnership between the International Cricket Council (ICC), which governs cricket worldwide, and the now-defunct FTX cryptocurrency exchange, as an official cryptocurrency exchange partner for ICC events. FTX logos were visible throughout the ICC’s T20 Cricket World Cup, one of the most watched sporting events globally, but were dropped for the tournament’s final as the exchange collapsed. Source
Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware has denied a motion appointing an independent examiner for FTX. In a Feb. 15 hearing, Judge Dorsey said he had some discretion under the law to choose whether to appoint an examiner in the FTX bankruptcy case despite some of the the parties meeting the debt threshold with the loss of funds. According to the judge, appointing an examiner would be an “unnecessary burden” on FTX’s debtors and creditors. He also cited CEO John Ray’s experience…
Security tokens, however, are struggling amid a lack of regulatory clarity, and the all-too-familiar regulation-by-enforcement approach of the U.S. Securities and Exchange Commission (SEC). To pick an example, starting in 2016 LBRY – a decentralized storage protocol and media service – financed its development through the issue of LBC tokens, which would enable access and engagement once the platform was up and running. For many, these were obviously utility tokens since they enabled use of the service. For the SEC, they were security tokens since their issue financed the project.…
A bipartisan group of four U.S. senators sent a letter to the judge in January, calling for an independent examiner to be appointed. Juliet Sarkessian, a representative for the U.S. Trustee, a branch of the Department of Justice, later argued the decision was out of the hands of Judge John Dorsey, of the Bankruptcy Court of Delaware in a case of this scale. Source
Eligible clients include individuals with over 8 million Hong Kong dollars and institutions with over 40 million Hong Kong dollars in investable assets. Source