Day: September 13, 2023

XRP Could Gain By 2500% In 2024, Crypto Analyst Says

Prominent cryptocurrency XRP remains among the major talking points in crypto over the last few months. Following Ripple’s partial victory over the US Securities and Exchange Commission (SEC) in July, analysts have continued to weigh in on XRP’s future, mostly predicting a bullish price trajectory for the altcoin. In the latest development, a crypto analyst, EGRAG CRYPTO on X, predicts that XRP could be set for massive gains in 2024 based on historical price data.  XRP To Repeat Price Rally In 2024? According to an X post on September 12,…

OneCoin co-founder Karl Greenwood sentenced to 20 years in prison 

Karl Sebastian Greenwood, the co-founder of OneCoin, who pleaded guilty in December, has been sentenced to 20 years in prison.  Karl Sebastian Greenwood, one of the key architects behind the OneCoin pyramid scheme that defrauded investors out of $4 billion, has been handed a 20-year prison sentence. The ruling was issued in a New York court earlier today, following Greenwood’s December admission of guilt in fabricating and promoting the fake digital currency. Greenwood served as the right-hand man to Ruja Ignatova, infamously referred to as the “Cryptoqueen,” who continues to…

Curve (CRV) Trading Volume Plunge 97% In 2 Months

Trading volumes associated with CRV, the governance token of Curve, a stablecoin decentralized exchange (DEX), is down 97% barely two months after it was hacked in late July 2023. According to Kaiko, CRV’s trading volume in centralized exchanges, especially Binance, where the token is actively traded, fell from nearly $300 million in late July to $7 million as of September 12.  CRV trading volumes slump: Kaiko Trackers show that CRV is available for trading in multiple centralized and decentralized exchanges, including Binance, Uniswap, and Curve. However, considering the popularity and…

SBF’s lawyers want to quiz jurors on crypto, altruism and ADHD

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Potential jurors in the upcoming criminal trial of former FTX CEO Sam Bankman-Fried could be asked their thoughts on crypto, effective altruism and attention-deficit disorder as his lawyers want to weed out those they consider unsuitable. In court filings on Sep.11, Bankman-Fried’s lawyers and United States prosecutors separately filed their lists of proposed questions they wish to ask prospective jurors in the trial slated for Oct. 3. Bankman-Fried wants to know if prospective jurors have invested in cryptocurrency, and if so, if they lost money or otherwise have a negative…

Decentralized exchanges a magnet for crypto wash traders: Solidus Labs

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Over 20,000 crypto tokens have been manipulated via decentralized exchange (DEX) wash trading in the last three years, according to market surveillance firm Solidus Labs. In the second part of its 2023 Crypto Market Manipulation Report released Sept. 12, Solidus said among a sample of 30,000 Ethereum-based DEX liquidity pools, nearly 70% were found to have executed wash trades since September 2020 — making up for around $2 billion worth of crypto. Wash trading is a form of market manipulation where an entity buys and sells the same asset giving…

Bitcoin Begins Rally As Franklin Templeton Joins Race For BTC Spot ETF

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Bitcoin (BTC) has welcomed another noteworthy decision from the global investment firm Franklin Templeton. With a portfolio spanning various financial instruments, the company is now setting its sights on one of the most sought-after financial products in the digital currency realm: a spot Bitcoin exchange-traded fund (ETF). This development signifies the firm’s progressive stance on digital assets and underscores the increasing mainstream acceptance of cryptocurrencies, particularly Bitcoin. Following the news, BTC has surged 4.2% in the past day, breaking above $26,000, as of this writing.  Details Of The Franklin Spot…

Binance.US cuts third of staff as CEO Brian Shroder leaves

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Binance.US, the United States arm of the crypto exchange has cut around a third of its staff — or 100 positions — with its president and CEO Brian Shroder also departing the firm. A Binance.US spokesperson confirmed the layoffs and Shroder’s departue to Cointelegraph, adding it took the actions to give the exchange “more than seven years of financial runway” amid its move to a crypto-only exchange. “The [Securities and Exchange Commission’s] aggressive attempts to cripple our industry and the resulting impacts on our business have real world consequences for…

Binance.US cuts third of staff as CEO Brian Shroder leaves: Report

Binance.US, the United States arm of the crypto exchange has reportedly cut around a third of its staff — or 100 positions — with its president and CEO Brian Shroder also departing the firm. On Sep. 13, Bloomberg reported, citing a Binance.US spokesperson, that Shroder was replaced on an interim basis by chief legal officer Norman Reed. Shroder joined Binance.US in September 2021 and his departure comes amid a slew of regulatory actions taken against the firm in recent months. Related: Binance’s Richard Teng denies FTX comparisons: ‘We welcome the…

Binance.US CEO Has Left, Crypto Exchange Cuts 1/3 of Workforce

“The actions we are taking today provide Binance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange,” the company said in a statement. “The SEC’s aggressive attempts to cripple our industry and the resulting impacts on our business have real world consequences for American jobs and innovation, and this is an unfortunate example of that.” Source