Day: September 6, 2023

Grayscale Bitcoin Trust’s alleged wallet addresses released by Arkham

Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claimed that Grayscale is “the 2nd largest BTC entity globally.” Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain. It is the 2nd largest BTC entity globally, holding >$16B of BTC. Though Grayscale publicly reports balances, they have refused to identify the…

Bitcoin short-term holders capitulate as data highlights potential generational buying opportunity

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Bitcoin’s price action suggests that the asset remains in a precarious position, and a recent report from ARK Invest says that short-term Bitcoin investors had no choice but to capitulate in August, as the percentage of Bitcoin supply in profit fell by 14 percentage points.  Bitcoin market sentiment and monthly valuation change in August. Source: ARK Invest Although many traders view significant price dips as buying opportunities, at this point in the Bitcoin (BTC) halving cycle, a notable bearish move was Bitcoin’s price falling below its 200-week moving average (MA) for the first…

Blackrock’s Bitcoin Spot ETF May Unleash $30 Trillion From US Advisors

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The possibility of a Bitcoin spot Exchange Traded Fund (ETF) launching in the US, which has gained much attention over the past months, has again made headlines due to Bloomberg ETF analyst Eric Balchunas’s recent suggestions. According to the analyst, should the US Securities and Exchange Commission (SEC) approve BlackRock’s Bitcoin spot ETF, a vast pool of $30 trillion capital overseen by US financial advisors could be directed toward Bitcoin investments. Notably, Balchunas clarified that while the approval of a BTC spot ETF could serve as an accessible pathway for the $30 trillion…

OpenAI and Microsoft accused of stealing data to train ChatGPT in new class action suit

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OpenAI and Microsoft have been named as the defendants in yet another class action lawsuit over their alleged use of web scraping techniques to obtain supposedly private data for the use of training ChatGPT and other associated artificial intelligence models.  The most recent class action suit was filed on Sep. 5 in San Francisco by a law firm representing a pair of unnamed engineers. According to a filing registered with the United States District Court, Northern District California: “This class action lawsuit arises from Defendants’ unlawful and harmful conduct in developing,…

Tornado Cash alternative detailed in paper co-authored by Vitalik Buterin

Ethereum(ETH) co-founder Vitalik Buterin; core developer Ameen Soleimani; Jacob Illum of Chainalysis; and scholars Matthias Nadler and Fabian Schar have co-authored a research paper on a novel privacy protocol dubbed “Privacy Pools.” The paper presents a framework, positioning it as a potential successor to Tornado Cash, a privacy-centric service that recently came under regulatory scrutiny. Privacy Pools is a “smart contract-based privacy-enhancing protocol” designed to balance financial privacy and regulatory compliance. Using advanced cryptographic techniques like zero-knowledge proofs, the protocol verifies the legitimacy of user funds without revealing their complete…

Appellate judge denies Sam Bankman-Fried’s request for immediate release from jail

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Former FTX CEO Sam Bankman-Fried, also known as SBF, lost an initial appeal to return to being free on bail prior to his criminal trial. In a Sept. 6 filing in the United States Court of Appeals for the Second Circuit, Clerk of Court Catherine O’Hagan Wolfe said a circuit judge had denied a motion from SBF’s legal team requesting his immediate release from the Metropolitan Detention Center in Brooklyn. The former FTX CEO’s lawyers had petitioned the court for temporary release, claiming the current measures aimed at allowing SBF…

Riot Platforms says Texas energy strategy reduced production costs by $31M

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Bitcoin miner Riot Platforms mined fewer Bitcoin in August than July but received over $31 million in power credits. That is the equivalent of around 1,136 Bitcoin (BTC), CEO Jason Les pointed out in a statement. Riot received an estimated $24.2 million in power curtailment credits under its contract with Texas grid operator Electric Reliability Council of Texas (ERCOT) and $7.4 million from ERCOT’s demand response program. Those monthly credits are greater than the credits the company received for all of 2022, Les said. Riot Platforms mining statistics for August. Source:…

Make or Break Season? Crypto Analyst Predicts A Fall To $1,200 If Ethereum Stays Beneath This Level

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Like most altcoins, Ethereum (ETH) has seen its price succumb to the negative market sentiment in recent weeks. This unfavorable market condition has consistently caused the second-largest cryptocurrency to trade beneath the $1,700 level. Could Ethereum Price Fall To $1,200? In an X post dated Wednesday, September 6, crypto analyst Ali Martinez offered insight on the price of Ethereum. The analyst shared that the value of ETH faces a potential significant correction to $1,200 if it stays below $1,680. Source: IntoTheBlock/ali_charts Using data from the blockchain analytics platform IntoTheBlock, Martinez’s…

Binance creates smart contract to refund users affected by $3M rug pull

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Crypto exchange Binance has created an automated smart contract to reimburse users following the events of the Xirtam rug pull. According to a Sept. 6 announcement, users affected by the Xirtam rug pull can receive their money by connecting their wallets to Etherscan, passing a verification check and calling the claim function through the contract address. Users must have submitted their applications by Aug. 2 to be eligible for recovery. “We have received several reports of XIRTAM incidents and are fully aware of the seriousness of the problem,” the exchange previously…

Ronaldo hints at NFT plans, and will the metaverse be a ‘tax haven?’: Nifty Newsletter

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In this week’s newsletter, read about how German flagship airline Lufthansa uses nonfungible tokens (NFTs) to reward loyal customers and how soccer superstar Cristiano Ronaldo teased his future NFT plans during a lie detector test. Check out why a law professor believes the metaverse should be taxed, and find out how artificial intelligence (AI) and NFTs can provide a personalized learning experience to children. And don’t forget this week’s Nifty News, featuring a Mutant Ape NFT selling for over $800,000 amid an ongoing downward price trend.  Lufthansa launches NFT loyalty…