Day: August 15, 2023

Ethereum bulls targeting $2,000, investors exploring Borroe presale

The crypto landscape is marked by constant change, with established leaders like Ethereum (ETH) adapting to market shifts and investor sentiment. Currently aiming to regain the $2,000 benchmark, Ethereum’s journey is closely observed amidst price fluctuations and investor sentiment, reflecting broader trends in the crypto sphere. Meanwhile, a new participant, Borroe, is leaving its mark. Based on Polygon, the protocol is especially garnering significant attention from retail investors. Subsequently, this has prompted considerations about viable long-term investment options in the market. Borroe’s features Borroe‘s presale is attracting interest not only for…

Crypto Twitter doubts SBF’s ability to cope in jail

Crypto Twitter is abuzz with speculations on how Sam Bankman-Fried would fare in jail. Recent buzz on Crypto Twitter has ignited speculation over how Sam Bankman-Fried (SBF), the founder of FTX, would handle potential incarceration. Adam Cochran took to his account with a view. Cochran, known for his deep analytical dives into the crypto world and active participation in the Ethereum(ETH) community, opines that being in the Metropolitan Detention Center will “break him.” Tiffany Fong, a well-respected crypto strategist and researcher known for interviewing SBF at the very start of…

Crypto scammers drained $3b from Australians in 2022

The official report reveals that the hackers stole $3 billion from Australians in 2022 and over $38 million in June 2023 alone. According to an Australian Financial Crimes Exchange (AFCX) report, illicit actors and scammers funneled millions in stolen funds through cryptocurrency operators like exchanges and trading venues. Industry experts and regulators call for collaboration between banks and exchanges to tackle scammers’ operations. During the last 30 days of Australia’s financial year, from July 1 to June 30 of the following year, scammers siphoned 47% of all stolen wealth to…

Singapore central bank releases regulatory framework for stablecoins

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Singapore’s central bank has released a revised regulatory framework aimed at ensuring stability for single-currency stablecoins (SCS) regulated in the city-state. The Monetary Authority of Singapore announced the framework on Aug. 15 which is aimed at non-bank issued stablecoins pegged to the value of the Singapore dollar or G10 currencies such as the euro, British pound and United States dollar whose circulation exceeds $3.7 million (5 million Singapore dollars). The bank’s financial supervision deputy managing director Ho Hern Shin said the framework aims to facilitate stablecoin use “as a credible…

XRP Price at Potentially Significant Turning Point, Key Support Nearby

Ripple’s token price is consolidating above $0.620 against the US Dollar. XRP price might start a decent increase if there is a clear move above $0.650. Ripple’s token price is moving lower from the $0.6650 resistance against the US dollar. The price is now trading below $0.65 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.628 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair might continue to decline if there is no move…

Ex-FTX exec Salame won’t testify in alleged illegal campaign donation case

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Former FTX executive Ryan Salame will reportedly avoid testifying about his role in FTX’s alleged illegal campaign donation scheme if he is subpoenaed in Sam Bankman-Fried’s criminal trial. Lawyers representing the former FTX co-CEO said that Salame will be unavailable as a witness to the case, according to an Aug. 14 motion filed by United States federal prosecutors. “Salame’s attorney has represented that if subpoenaed, Salame would invoke his Fifth Amendment right against self-incrimination,” the prosecutor’s motion states, adding that Salame would be “unavailable as a witness.” From the US…

Base project RocketSwap shares emergency plan following $865K exploit

Base project RocketSwap Labs has outlined its emergency programme to bounce back from a brute force hack which swiped $865,000 or 471 Ether (ETH) from the protocol on Aug. 14. The team explained on Aug. 15 that they plan on redeploying a new farm contract and open-source it on-chain, relinquish minting rights — presumably of RCKT — and will soon call on the hackers to return the assets, among other things: The emergency programme agreed upon by the team is as follows. 1. We plan to redeploy a new farm…

Ethereum Price Plunge To $1,800 On The Horizon, As Bulls Show Weak Hands

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Ethereum price is struggling to rise above the $1,850 zone against the US Dollar. ETH could drop toward the $1,800 support in the near term. Ethereum is trading in a range below the $1,850 and $1,860 resistance levels. The price is trading below $1,850 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with support near $1,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop toward $1,800 if there is no close above the $1,860 resistance. Ethereum Price Dips Again…

‘Evidence is piling up’ for a new crypto bull run: Delphi Digital co-founder

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Several on-chain metrics and charts are showing signals that could hint at the beginning of a new crypto bull market cycle, according to the co-founder of Delphi Digital. On Aug. 14, institutional crypto research firm Delphi Digital’s Kevin Kelly said that crypto markets are cyclical and predictable which “has huge implications for the crypto market going forward.” “Evidence is piling up that we’re in the early stages of a new cycle. Risk assets like stocks [and] crypto have been sniffing this out all year.” Kelly also shared an Aug. 8-dated chart…

Binance seeks protective order against SEC’s ‘fishing expedition’

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Binance has asked a court for a protective order against the Securities and Exchange Commission (SEC) over what the crypto exchange claims is a “fishing expedition” from the regulator. In an Aug. 14 court filing, Binance put forward a motion for a protective order following deposition notices and discovery requests from the SEC. “BAM has worked in good faith, but the SEC has been steadfast in its belief that the Consent Order gives it carte blanche to investigate every aspect of BAM’s asset custody practices without any discernible limitation whatsoever,”…