BTC’s price slipped below $26,000 Friday afternoon after a rally toward $27,000 – which erased some of Thursday’s sharp decline – fizzled. The largest cryptocurrency by market capitalization had plummeted to $25,392 Thursday afternoon, hitting its lowest price since mid-June, amid cascading liquidations of leveraged trading positions. Source
With a nod to Sam Bankman-Fried, CoinDesk staff crowdsource their fears, anxieties and disappointments — for your enjoyment! Source
Bitcoin and most major altcoins are reeling under intense selling and charts suggest that the market sell-off is not complete. A tight range usually resolves with a range breakout and that is what happened in Bitcoin (BTC) on Aug. 17. Bitcoin fell sharply, resulting in a $1 billion liquidation for derivatives traders, the biggest since the FTX collapse in 2022. It is difficult to pinpoint any specific reason for the sell-off but analysts believe that the confusion arising from the alleged write-down of SpaceX’s $373 million Bitcoin holdings may have been…
While the cry for crypto regulation is becoming ever louder in much of the world, and regulation by enforcement is a controversy, a report prepared for the New Zealand Parliament has recommended a slow, agile approach. The report was commissioned by the Finance and Expenditure Committee of the New Zealand House of Representatives in 2021 and titled “Inquiry into the current and future nature, impact, and risks of cryptocurrencies.” Cowritten by a partner at the law firm MinterEllisonRuddWatts and a University of Auckland associate professor of commercial law, the 99-page…
Yoni Assia, co-founder and CEO of eToro, entered the finance industry early. After receiving stock as a bar mitzvah gift, he became a successful trader while still in high school. Those profits largely disappeared as the dot-com bubble burst just as he was beginning his military service. That would turn out to be the first of a number of dramatic highs and lows Assia has seen in his career. In this episode of Cointelegraph’s Crypto Stories, Assia recounts the early days of eToro and the launch of crypto trading on…
Bitcoin, the cryptocurrency often referred to as ‘digital gold’, has been on a roller-coaster ride lately. Over the past decade, Bitcoin has transformed from an obscure digital token into an economic powerhouse, drawing attention from retail investors to global financial institutions. However, as recently observed over the past 24 hours, the asset’s resistance is being tested as a report from Santiment reveals chances of it plunging below the critical $26,000 mark. Whale Activity Driving Bitcoin Price Movement Whale activity, or large-scale investors, has historically played a pivotal role in determining…
X owner Elon Musk revealed in an Aug. 18 post on the social media site formerly known as Twitter that he intends to delete the block feature for users on the app. Block is going to be deleted as a “feature”, except for DMs — Elon Musk (@elonmusk) August 18, 2023 The comment came in response to a post from the “Tesla Owners Silicon Valley” account, which questioned why users didn’t simply employ the “mute” feature instead of the block one. Other users were quick to reply, and as of…
As Congress Bickers, the Rest of World Recognizes Stablecoins Source
Crypto exchange Binance is considering legal action against its former payment provider Checkout.com, a spokesperson for Binance told Cointelegraph on Aug. 18. The potential legal dispute arises from letters sent by Checkout.com to Binance on Aug. 9 and Aug. 11. According to a Forbes report, Guillaume Pousaz, CEO of Checkout.com, ended the relationship with Binance, citing “reports of regulators actions and orders in relevant jurisdictions,” along with concerns about Anti-Money Laundering, sanctions and compliance controls. “We do not agree with Checkout’s purported basis for termination and are considering our options…
The Shibarium didn’t get off to a flying start following its launch on August 16. However, the network aims to move past these incidents as block production resumes. Developers Restarts Network Data from Shibariumscan.io shows that the layer-2 network is up and running again. Shibarium had on August 17 paused block production following the traffic surge, which overwhelmed the blockchain upon mainnet launch. Close to $1.7 million in bridged funds had reportedly gotten stuck on the Shibarium bridge, with lead developer Shytoshi Kusama confirming that the funds were irrecoverable. However,…