Day: August 31, 2023

Bitcoin ETF Applications Are Bitcoin’s Best Marketing Strategy

Nowadays, with finance heavyweights such as Larry Fink talking up Bitcoin on the world stage, the masses are finally tuning in. Shortly after BlackRock filed its Bitcoin ETF application, the CEO had this to say: “Instead of investing in gold as a hedge against inflation, a hedge against the onerous problems of any one country, or the devaluation of your currency whatever country you’re in — let’s be clear, bitcoin is an international asset, it’s not based on any one currency and so it can represent an asset that people…

Bitcoin and Ethereum Pose Downside Potential Despite Bounce

A prominent cryptocurrency analyst, Bluntz, has expressed skepticism about the recent uptrend that increased Bitcoin and Ethereum prices by more than 5%. The pseudonymous analyst told his over 224,000 Twitter followers that the flagship crypto assets may face more downturns.  Applying the Elliott Wave theory in his analysis, Bluntz predicted that Ethereum is about to complete a five-wave pattern. According to him, Ethereum will decline to $1,450 on completing the wave pattern marked 1, 2, 3, 4, and 5. Bitcoin And Ether Could Face More Downturn Before A Bounce In Bluntz’s…

$16M in crypto lost to hacks in August — Report

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A total of $15.8 million in cryptocurrencies were lost to hacks or exploits in the month of August. According to an Aug. 31 report by blockchain security firm Immunfi, a combined $23.4 million in crypto was lost to a combination of hacks and fraud, a significant decrease compared to the $320.5 million lost in July. All exploits consisted of attacks against decentralized finance (DeFi) protocols, and not a single incident affected centralized finance entities.  Of the 21 security incidents reported, five took place on the Ethereum blockchain, while four occurred…

Worldcoin breaks an all-time high user record in Argentina

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Worldcoin, one of the world’s most discussed ID projects, broke an all-time high user record. The company registered 9,500 new users in the country in 24 hours. This means that every 9 seconds, a new user has registered on the platform. Worldcoin is a digital currency project that aims to create a global universal basic income (UBI) system. Sam Altman, who stands behind OpenAI, is its founder. Worldcoin’s vision is to distribute cryptocurrency to every person on…

XRP Price Prediction for 2023, 2024, 2025, 2030 and Beyond

XRP has been one of the most controversial cryptocurrencies since its creation by Ripple Labs in 2012. Its close ties to traditional finance have alienated parts of the crypto community. However, it retains a loyal following for its fast and cheap transactions. This XRP price prediction guide examines the coin’s outlook using technical analysis methods. What is XRP? XRP is a cryptocurrency created by the Ripple payment network to facilitate fast cross-border payments. Ripple Labs founders Arthur Britto, David Schwartz, and Chris Larsen designed it to overcome Bitcoin’s scalability issues while…

FTX Sam Bankman-Fried’s October Trial Date No Longer A Sure Thing

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Disgraced FTX Founder Sam Bankman-Fried’s (SBF) trial is set to begin on October 3. However, a recent development suggests that his trial date could be pushed back.  Judge Kaplan Could Delay FTX Founder Trial Date According to a Reuters report, Judge Lewis Kaplan, the judge in charge of SBF’s case, said he could consider delaying the trial slated for October 3 to give SBF and his lawyers more time to review discovery documents and prepare their defense.  Judge Kaplan told SBF’s lawyers they could ask for a postponement if they…

Binance reportedly loses APAC region head amid regulatory issues

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied One of Binance’s top executives is reportedly exiting the company following several senior executive departures in recent months.  Binance Asia-Pacific (APAC) chief Leon Foong is resigning from the firm, Bloomberg reported on Aug. 31, citing people familiar with the matter.  While the report does not state the reason for Foong’s exit, the executive has become the latest senior employee to leave the crypto exchange. Binance has also seen the departure of several top executives, including general…

Swift Announces Successful Transfer of Tokenized Value Across Multiple Blockchains 

The experiment was built on Swift’s earlier successes in connecting Central Bank Digital Currencies (CBDCs) and digital assets with existing and emerging payment systems. The Society for Worldwide Interbank Financial Telecommunication (SWIFT), the global financial messaging network, has unveiled the results of a groundbreaking experiment hindering the widespread adoption of tokenized assets. According to an official announcement on August 31,  the company has successfully demonstrated that its infrastructure can seamlessly facilitate the transfer of tokenized value across a variety of public and private blockchains. The messaging platform said the results…

No, Bitcoin is not in its ‘longest ever bear market’ — Here’s why

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Cryptocurrencies like Bitcoin (BTC) are not in their “longest ever bear market” and probably are not even in a bear market at all, according to some industry observers. MN Trading founder Michaël van de Poppe took to X (formerly Twitter) on Aug. 27 to claim that Bitcoin is currently in its “longest bear market” in history. “Right now, the price of Bitcoin is nowhere near the valuation of the peak in November ’21. It’s down more than 50% and in a bear market of 490 days,” the trader wrote. Van…