Day: September 11, 2023

Crypto CEO Bags Record Breaking Prison Sentence For $2 Billion Theft

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Former CEO Faruk Fatih Özer of the bankrupt Turkish crypto exchange Thodex has been given a record-breaking prison sentence for stealing $2 billion in customer funds. Crypto CEO Sentenced To 11,196 Years Prison Sentence On Thursday, September 7, 2023, the former CEO of Thodex, which was one of the biggest cryptocurrency exchanges in Turkey, was reportedly sentenced to 11,196 years, 10 months, and 15 days in prison for several criminal charges including fraud, leading a criminal organization, and money laundering by the Anatolian 9th Heavy Penal Court. The former CEO…

Bitcoin price dips below $25K — Opportunity, or sign of incoming disaster?

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Bitcoin stands at the edge of a bearish breakdown, with a small possibility that the $25,000 support level could hold. On Sept. 11, Bitcoin (BTC) broke from its parallel range between $25,500 and $26,500, falling to an intraday low at $24,950. A daily close below $24,750 threatens a drop to the sub-$20,000 range, but there’s a slight chance that the bullish momentum could revive. According to pseudonymous trader Horse, Bitcoin at $25,000 presents a short-term buying opportunity, as it’s the “best area to trap sellers” and “arguably the best place…

Bitcoin Dips Below $25,000 As Former Paypal President Hails It As Universal Internet Currency

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In an interview with CNBC on Monday, David Marcus, former President of Paypal and Head of Facebook Payments, expressed his belief that Bitcoin (BTC) is the universal protocol for money on the internet.  He emphasized Bitcoin’s significance as the flagship cryptocurrency and its core value as a payment solution while discussing its potential as a global payment network. Bitcoin As The Universal Protocol For Internet Money Despite enduring a challenging period and navigating various headwinds in recent months, Bitcoin remains at the forefront of the cryptocurrency market. According to Marcus,…

Google Chrome launches built-in user tracking for advertisers

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Google Chrome launched its built-in tracking and ad-curation platform, “Privacy Sandbox,” on Sept. 7 for general availability, according to a company blog post. The platform was originally rolled out to a small percentage of users but is now available to around 97% of users. Google said the remaining 3% will be onboarded over the next few months. Privacy experts have criticized the new tracking system. But in its announcement, Google defended it, stating that Privacy Sandbox needs to be implemented to eliminate third-party cookies and fingerprinting. Google is introducing Privacy…

Will the CFTC Blot Out DeFi in the U.S.?

In its press release, the CFTC was specific about the labels it would have applied to the DeFi apps. Opyn, for instance, a type of decentralized insurance provider, should have had licenses for a “swap execution facility” (SEF) and “designated contract market” (DCM) as well as a “futures commission merchant” (FCM), the agency wrote. Source

Teenage crypto hacker to return $5.2m and forfeited sports car

US judge sentenced a teenage crypto hacker to return stolen BTC worth nearly $5.2 million and a sports car he bought with the illicit funds. The hacker, identified as Wagaafe Hared, is a teenager from Arizona who was part of a crypto theft ring that has operated since 2016. According to The San Francisco Standard, Hared and his two accomplices targeted wealthy tech investors and executives in the San Francisco area, known for its extensive fintech and technology hub. They used SIM swapping, a form of identity theft where an…

Bitcoin Weekly TD Sequential Buy Setup Appears, But Warns Of Potential Risk

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Bitcoin price keeps falling, now pushing down against support at $25,000 per coin. The recent sweep of lows has resulted in a perfected TD9 buy setup according to the weekly TD Sequential indicator. Although this sounds positive for crypto, if the signal fails, there is risk of an extreme drop ahead. Here is a closer look at why. Is The TD Sequential Telling Us To Buy The Dip In Bitcoin? Things are improving for Bitcoin price action, but the situation surrounding altcoins and the increasingly negative macro environment has kept…

Terra Classic Game-Changing Proposal: What’s In Store For LUNC’s Future?

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Terra Classic (LUNC) has taken a decisive action in a bid to tackle the rising tide of spam proposals flooding its blockchain. The project recently submitted a groundbreaking proposal aimed at altering some fundamental aspects of its ecosystem to mitigate the incessant spam proposals that have been plaguing it. The Terra Classic community hopes that this move will help restore order and efficiency to its blockchain. One of the most significant changes proposed is the substantial increase in the minimum deposit required for submitting proposals. In response to the dwindling…

Bitcoin BTC Price Drops to $25K as Solana SOL, Ripple XRP, Arbitrum ARB Lead Crypto Losses

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Crypto markets tumbled Monday as traders got spooked by the potential selling pressure from bankrupt exchange FTX. Bitcoin (BTC) fell more than 2% and briefly dipped to as low as $24,963 during U.S. morning hours, its first time below the $25,000 level since mid-June. It has pared some of those losses since, now trading at around $25,140, 2.6% lower in the last 24 hours. Original