Vote if You Want, but Remember 'Cypherpunks Write Code' Source
Vote if You Want, but Remember 'Cypherpunks Write Code'
Day: September 21, 2023
Is The Bitcoin Dream Fading? Glassnode Data Reveals Newbies Facing Steep Losses
Since its inception, Bitcoin, the preeminent cryptocurrency, has witnessed several market cycles, each with its highs and lows. Its volatile nature has recently tested investors’ mettle, especially those who ventured into Bitcoin in the past three months. Bitcoin Short-Term Holders’ Cost Basis Troubles New findings from analytics firm Glassnode have painted a detailed picture of the current scenario, revealing the challenges faced by short-term holders (STHs) of the premier cryptocurrency. STHs, defined by Glassnode as entities holding Bitcoin for 155 days or less, have recently felt the heat. The firm’s…
Sam Bankman-Fried Will Remain in Jail Through the Start of His Trial
An appeals court rejected his attorneys’ attempt to free him in the run-up to the trial. Source
How One Blockchain Project’s Decentralization Push Culminated in Rage Quitting
Rage quitting was the talk of Noun town on Dec. 20, 2022, when the project’s two core engineers, Elad Mallel and David Brailovsky, introduced the controversial mechanism in a Twitter Spaces hosted by Noun Square, a media collective funded by Nouns DAO. They pitched it as a security backstop against a 51% attack, in which evil-doers who have seized majority control can force through malicious proposals, such as sending themselves the entire treasury. Source
Bitcoin Slides to $26.5K Amid Surging U.S. Dollar; Record-High Rates Are ‘Nightmare’ for Crypto Firms
“U.S. equity and rates markets have broken some very key levels on the back of this, and reflexivity can take over with the bearish thesis from here,” the QCP wrote in a Telegram market update. “This macro move could seep into crypto markets and take BTC lower with it, albeit with a lower beta as compared to other very stretched macro markets like the Nasdaq.” Original
“Paper BTC” Is Counteracting A Bullish Bitcoin Supply Shock, Analyst Explains
An analyst has explained how the growth in “paper BTC” could be counteracting a bullish Bitcoin supply shock from taking effect. Liquid Bitcoin Supply Has Dropped, But Paper BTC Is Still At Significant Levels In a new post on X, analyst Willy Woo shared insight into how the paper BTC compares against the real BTC being traded. According to the analyst, “paper BTC” refers to the combined futures open interest value. Here is a chart that shows the trend in the ratio between the two types of Bitcoin over the…
Binance executive flags potential EU stablecoin removal amid MiCA uncertainty
Ahead of the forthcoming enforcement of the European Union’s Markets in Crypto Assets (MiCA) legislation, a top Binance representative is sounding the alarm about potential large-scale removals of stablecoins from the exchange. As legal experts wrestle with interpreting the EU’s pivotal crypto regulation, concerns are growing about its effect on decentralized and international token issuers. Despite MiCA’s status as a groundbreaking legislation in cryptocurrency governance, slated to come into full force next year, its guidelines on various types of crypto assets remain under scrutiny. The European Banking Authority (EBA) has…
Judge grants DOJ motions barring testimony of Sam Bankman-Fried’s witnesses
A federal judge has sided with the United States Department of Justice in motions aimed at precluding the testimony of seven witnesses on behalf of former FTX CEO Sam Bankman-Fried, or SBF. In a Sept. 21 filing with the U.S. District Court for the Southern District of New York, Judge Lewis Kaplan granted in limine motions from prosecutors that would bar certain witnesses from testifying in SBF’s criminal trial. Kaplan provided different legal grounds for granting the DOJ’s motions against certain witnesses, which included the proposed testimony being “not at…
Judge grants DoJ motions barring testimony of Sam Bankman-Fried’s witnesses
A federal judge has sided with the United States Department of Justice in motions aimed at precluding the testimony of 7 witnesses on behalf of former FTX CEO Sam Bankman-Fried, or SBF. In a Sept. 21 filing with U.S. District Court for the Southern District of New York, Judge Lewis Kaplan granted in limine motions from prosecutors which would bar certain witnesses from testifying in SBF’s criminal trial. Kaplan provided different legal grounds for granting the DoJ’s motions against certain witnesses, which included the proposed testimony being “not at all…
Judges deny Sam Bankman-Fried’s appeal for early release
A three-judge panel from the United States Court of Appeals for the Second Circuit has denied a motion for early release for former FTX CEO Sam Bankman-Fried, or SBF. In a Sept. 21 order, Circuit Judges John Walker Jr., Denny Chin, and William Nardini denied SBF’s motion for early release, which his team argued largely was due to First Amendment issues. The ruling said Lewis Kaplan — the judge overseeing SBF’s criminal case — had “correctly determined” that Bankman-Fried’s speech amounted to witness tampering. “The record shows that the district…