Month: August 2023

Nvidia’s (NVDA) Make-or-Break Earnings Could Be Huge for AI-Tied Crypto Tokens Like FET, GRT, INJ, RNDR, AGIX

Miners like Applied Digital (APLD), Iris Energy (IREN), Hut 8 (HUT) and Hive (HIVE) have already started to revitalize their data centers to accommodate AI and other computing services as mining has become less profitable during the prolonged bear market. As investors have also been rewarding the shares of some publicly traded miners for pivoting into AI, depending on how the guidance from Nvidia goes, the prices of these mining stocks could also be affected. Source

Tornado Cash Devs Arrested on Money Laundering, Sanctions Violation Grounds Over Alleged $1B Moved

“While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes. Today’s indictment is a reminder that money laundering through cryptocurrency transactions violates the law, and those who engage in such laundering will face prosecution,” he said. Source AllegedarrestedCashDevsGroundsLaunderingMoneyMovedSanctionsTornadoViolation CryptoX Portal

Crypto Analyst Predicts Solana Could Mirror Cardano Price Action

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The general crypto market has seen a decline in the last week, with most assets recording significant losses. Solana (SOL), one of the most prominent cryptocurrencies, is down by 11.50% in the last seven days and 16.17% in the last month. Interestingly, popular crypto analyst, Benjamin Cowen has posted a puzzling prediction on Solana, drawing much similarity between the token’s current price movement and historical price data of fellow altcoin Cardano (ADA).  SOL To Close 2023 With Losses? According to an X post on August 23, Benjamin Cowem believes Solana’s…

Coinbase Invests in USDC Issuer Circle, Says Crypto Exchange Is Committed to Long-Term Success of Stablecoins

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Top US crypto exchange by trading volume Coinbase is investing in the USD Coin (USDC) stablecoin issuer Circle. Coinbase and Circle co-created USDC in 2018 and have jointly managed the asset, which aims to maintain a peg to the US dollar, through the Centre Consortium. In a new announcement, however, Coinbase chief executive Brian Armstrong and Circle CEO Jeremy Allaire say that Circle will now bring all of USDC’s governance and operations responsibilities in-house. Explain the CEOs, “The new structure will streamline the operations and governance, and enhance the direct accountability…

Tornado Cash Devs Charged With Helping Hackers Launder $1B, Including Infamous North Korean Attacks

The core blockchain-based software, or “smart contracts,” that power Tornado Cash also remain possible to use on Ethereum. However, using these smart contracts is technically illegal in the U.S., and key blockchain infrastructure providers like Infura and Alchemy – used by many of the apps that interface with the Ethereum blockchain – have censored access to the Tornado Cash app in accordance with the sanctions. Source

Shopify to accept USDC payments with Solana: Report

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E-commerce giant Shopify has added Solana Pay to its pool of options for payment, allowing millions of merchants to use the platform to accept crypto transactions, kicking off with USD Coin (USDC) stablecoin payments.  According to TechCrunch, Solana plans to add other altcoins to the platform in the coming months, including its native token Solana (SOL) and the meme token Bonk Coin (BONK). Josh Fried from Solana Labs branded the intersection of digital assets and payment solutions as the “killer app for crypto,” adding that “[Everyone] should be doubling down…

This Bitcoin Indicator Is On The Verge Of A Bullish Breakout

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A Bitcoin on-chain indicator is currently attempting a breakout that could turn out to be a bullish signal for the asset’s value. Bitcoin Active Entities Is Trying To Escape Network Stagnation Range In a new post on X, Jamie Coutts, a Bloomberg Intelligence analyst, has discussed the BTC active entities metric, and how it has a strong relationship with the coin’s price. The “active entities” here are a measure of the unique total amount of Bitcoin addresses that are participating in some kind of transaction activity on the blockchain. Naturally,…

Sam Bankman-Fried’s lawyers argue previous FTX legal team led him to act ‘in good faith’

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Lawyers currently representing Sam Bankman-Fried, or SBF, for his criminal case in the United States plan to elicit evidence the former CEO acted “in good faith” on advice of previous counsel in regard to his alleged actions at FTX and Alameda Research. In an Aug. 23 filing in the U.S. District Court for the Southern District of New York, SBF’s legal team said Fenwick & West, the law firm that formerly represented cryptocurrency exchange FTX, provided certain legal advice to the firm of which Bankman-Fried had been aware. According to…