Day: August 18, 2023

Mexican crypto exchange Bitso launches international service

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Mexican crypto exchange, Bitso, will launch an international payments service. The main aim of the new service is to connect the Latin American region with the rest of the world. It will allow companies to send and receive international payments in cryptocurrencies, fiat money and stablecoins. “With this launch, we seek to boost the economies of our region, by facilitating operations between countries and opening trade corridors that increase the development and prosperity of Latin…

BTC price nears $26K amid warning Bitcoin sell pressure can ‘double’

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Bitcoin (BTC) stayed near two-month lows at the Aug. 18 Wall Street open as markets came to terms with extreme liquidations. “Drying liquidity” costs BTC price key support Data from Cointelegraph Markets Pro and TradingView showed BTC price action tracking sideways after a single daily candle spawned 8% losses. The largest cryptocurrency saw a cascade of liquidations across derivatives markets, with these accounting for an “outsized” majority amid relatively slack spot selling. “In Deribit it is likely that a large account got wiped, considering the immense short liquidation that occured…

Valkyrie Taps Into Ethereum Momentum With New ETF Filing

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In a filing dated August 4, Valkyrie applied to add an Ethereum futures ETF to its Bitcoin Strategy ETF (BTF). However, it would seem this move was pushed back by the SEC as the asset manager has now filed a separate application to offer an Ether futures ETF.   Valkyrie Moves To Offer Ethereum Futures ETF In an application dated August 16, Valkyrie seeks the United States Securities and Exchange Commission’s (SEC) approval to offer an Ethereum futures exchange-traded fund (ETF).  If approved, the fund will not directly invest in Ether.…

AI is helping expand accessibility for people with disabilities

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According to data from the World Health Organization (WHO), more than one billion people are living with some significant disability today. Moreover, with the market for AI-related technologies set to grow to a cumulative valuation of over $2 trillion in the next seven years, it is reasonable to suggest that the marriage of these spaces can help introduce a new era of accessibility. Transforming the lives of people with speech impediments A key area where AI is making its presence felt is when it comes to supporting people with non-standard…

Bitget and crypto influencer embroiled in legal saga after Reel Star token listing fiasco

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Update (Aug. 18 at 2:09 pm UTC): This article has been updated with both sides’ perspectives and additional information. Further commentaries are expected from both sides. Crypto influencer Evan Luthra has brought a lawsuit against crypto exchange Bitget for freezing his account after a new token listing in March. According to Luthra, the exchange suspended his withdrawals and froze $200,000 in Tether (USDT) while attempts to seek clarification went unanswered.  Luthra’s involvement with the Reel Star project serves as a backdrop to these events. The influencer was hired as an…

Cypher Protocol recovers nearly 50% of stolen assets

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Cypher Protocol recovered nearly 50% of the stolen funds, worth approximately $600,000. On Aug. 7, the company suffered an exploit attack that reportedly wiped $1 million off its accounts. On Aug., 17, Cypher Protocol announced via its X account that it had frozen nearly half of the stolen funds on different CEX. update from cypher ~$600k has been frozen across CEXs, the return of these funds will be predicated on the cooperation of these CEXs and…

Why Did They Sell $373 Million In Bitcoin Holdings?

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SpaceX, the aerospace company founded by tech mogul Elon Musk, reportedly took a significant step in reshaping its financial portfolio by recording a write-down of $373 million on its Bitcoin holdings in the past two years.  According to a report from The Wall Street Journal, the company not only acknowledged the devaluation of its Bitcoin assets but also indicated the possibility of divestment. A write-down in the context of cryptocurrency holdings refers to the reduction in the recorded value of a digital currency asset on a company’s balance sheet. This…

BNB hacker loses over $53M after getting liquidated in market crash

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The sudden market pullback in the crypto space liquidated many traders and, according to data shown on the blockchain, the attackers responsible for the infamous BNB Smart Chain exploit, which led to the theft of almost $600 million worth of BNB (BNB) tokens.  On Oct. 6, the cross-chain bridge by blockchain network BNB Smart Chain was suspended because of an exploit that allowed the hackers to make off with 2 million BNB tokens, which were worth around $568 million at the time of the theft. On Aug. 18, a crypto…

Bitcoin, Ether price slump leads to crypto bloodbath with $1B in liquidations

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The Bitcoin (BTC) and Ether (ETH) price slump on Aug .18 saw the top two cryptocurrencies fall to a 2-month low and triggered a series of liquidations for thousands of derivative traders. The crypto bloodbath led to billions of dollars worth of hedged positions being liquidated and several traders lost millions of dollars in a single trade. According to Coinglass data, a total of 176,752 traders got liquidated over the past 24 hours. 90% of these liquidations took place within the last 12 hours, indicating a rapid rise in price…

Securitize acquires $40B crypto fund manager Onramp

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Tokenized asset firm Securitize continues expanding investor access to private market alternative assets by acquiring the cryptocurrency fund manager Onramp Invest, which has over $40 billion in assets under management (AUM). Securitize is planning to simplify the access of registered investment advisers (RIA) to private equity, private credit and secondary asset classes with the acquisition of Onramp. A spokesperson for Securitize declined to disclose the acquisition’s costs to Cointelegraph. At the time of the transaction, Securitize had 150 employees, while Onramp’s headcount is 18 people, the representative noted. The acquisition brings…