Day: September 4, 2023

FTX Wallets Begin Moving Tokens One Month To Sam Bankman-Fried’s Trial

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Following the FTX crash back in November 2022, there was still a good chunk of crypto running into the billions left in the exchange’s wallets after the new team’s recovery efforts. These tokens have sat idle for a long time in the wallet as the legal battle between the exchange and its creditors waged on. The time of idleness for these assets may now be over though as recent activities show that a large chunk of tokens from the FTX wallets are now on the move. FTX Wallets Come Alive…

OKX nears final stage of Hong Kong license application

OKX is in the final stage of preparing its VASP license application to operate in Hong Kong, aiming to attract up to 200,000 retail users within a year of approval. Li Zhikai, the global chief business officer of OKX, one of the top 10 largest crypto exchanges, said that the group has entered the final stage of preparing for the license application and hopes to obtain the license by June 2024. The firm believes that receiving this approval will attract 100,000 to 200,000 retail users in Hong Kong in the…

Bitcoin futures data hints at $22K as the next logical step

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A Bitcoin (BTC) price correction down to $22,000 is becoming increasingly likely as BTC derivatives have begun to exhibit bearish tendencies. The price chart of Bitcoin leaves little doubt that investor sentiment worsened after the much-hyped victory by Grayscale Asset Manager against the U.S. Securities and Exchange Commission (SEC) on Aug. 29 and the postponement of multiple spot BTC exchange-traded fund (ETF) requests by the SEC.  The central question remains whether the prospects of an ETF can outweigh the growing risks. Spot Bitcoin ETF hype is fading By Aug. 18, the entire…

South Korea Legislators Plans to Submit Bill to Track and Neutralize Digital Assets Stolen by North Korea Hackers

The North Korean government is said to sponsor hackers to steal digital assets and fund its military operations, with on-chain analysis suggesting they have siphoned over $2 billion since 2018. The Republic of Korea (South Korea) is reportedly working on a bill to track and seize digital assets stolen by hackers from North Korea. According to a local media outlet, the Korea JoongAng Daily, government sources have confirmed that the bill is in the pipeline in a bid to strengthen the country’s cybersecurity. The government officials who remained anonymous to…

This Could Be The Metric To Watch For A Bitcoin Bounce: Santiment

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On-chain data from Santiment suggests that the stablecoin whale supply could be the metric to watch for the likelihood of a Bitcoin bounce. Whale Supply Of Stablecoins Could Hold Key To Bitcoin Rebound In a recent post on X, the on-chain analytics firm Santiment discussed the percentage of the total stablecoin supply that the whales in the sector are holding right now. The “whales” here refer to entities that are carrying at least $5 million worth of stablecoins in their addresses. Naturally, all stablecoins that are in circulation are included…

OKX Set to Receive Hong Kong VASP License as It Enters Final Stage of Approval

According to an OKX exec, the exchange is in the final stage and has banks waiting on regulatory approval in the form of a license. Popular OKX crypto exchange is close to getting a virtual asset provider license (VASP) in Hong Kong and is in the final stage of the process. If all goes well, OKX should receive final approval for the license sometime in March 2024. OKX is currently engaging with banks and financial institutions that are waiting to kick off operations with the crypto exchange as soon as…

Bybit debuts AI-powered ‘TradeGPT’ for market analysis and data-driven Q&A

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Dubai-based cryptocurrency exchange Bybit has developed a language-based trading tool that uses artificial intelligence (AI) to generate trading insights and answer technical questions from its market data. TradeGPT is being touted as an AI-powered education tool that taps into the generative ability of ChatGPT’s large language model and Bybit’s in-house ToolsGPT to provide real-time market analysis and answers to user questions in a variety of languages. An announcement shared with Cointelegraph highlighted TradeGPT’s ability to offer market strategies and products for strategies being discussed with a user. Bybit launched ToolsGPT…

Australian lawmakers send back crypto bill by Andrew Bragg

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Australia’s Senate Committee on Economics Legislation has finally provided feedback to the cryptocurrency bill introduced by senator Andrew Bragg. The committee on Sept. 4 reported on the draft bill referred to as “The Digital Assets (Market Regulation) Bill 2023,” asking the bill authors to add some amendments. The Senate particularly concluded that it would pass the bill with minor amendments such as removing the term nonfungible tokens (NFTs) from the definition of regulated digital assets. Among other recommendations, the lawmakers asked the bill authors to exclude certain asset-based tokens —…

The UK releases key ambitions for global AI summit

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The United Kingdom released its five “ambitions” for its global artificial intelligence (AI) safety summit on Sept. 4, with a big focus on risks and policy to support the technology.  The summit, which will take place on Nov. 1-2, is anticipated to unite thought leaders from around the world, including academics, politicians and major tech companies developing AI, in order to create a common understanding of how to regulate the technology. According to the announcement, it will primarily focus on “risks created or significantly exacerbated by the most powerful AI…

Will XLM Prices See A Dip Amid Mid-Range Struggles?

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Stellar (XLM) investors were in for a surprise over the weekend as the cryptocurrency staged a remarkable comeback, defying the prevailing bearish trend across the crypto market.  The token’s price surged by 7.3% in the past 24 hours and recorded a 2.3% increase over the past week, now resting at $0.122461 according to CoinGecko. While cryptocurrency enthusiasts are rejoicing over the impressive price performance, the question that lingers on everyone’s mind is: why did Stellar’s price jump during the weekend? Two plausible explanations have emerged. XLM Surge Potential Triggers One…