Day: September 26, 2023

Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling

boss

Bitcoin (BTC) exchanges have seen trading volume collapse as traders deal with constant macroeconomic uncertainty. According to new research from on-chain analytics platform CryptoQuant published on Sept. 25, daily BTC volumes are at lows rarely seen since 2018. Fed keeps Bitcoin investors wary of “possible recession” Bitcoin price action has stayed in a familiar range for several months, and as time goes by, interest in transacting appears to be fading. CryptoQuant data, which tracks activity on both spot and derivatives exchanges, highlights the extent to which volumes have decreased since…

Crypto firm claiming $1.4B in trades on CMC flashes reportedly fake license data

boss

A number of cryptocurrency platforms reporting billions of dollars in daily trades on CoinMarketCap appear to have been misleading their customers about holding certain crypto licenses, an investigation by Cointelegraph has found. Bitspay, a crypto exchange that reports a $1.4 billion daily trading volume on CoinMarketCap, claimed it held a license in Estonia, and is regulated under Estonian law. However, after Cointelegraph reached out with questions about this license, the company swiftly erased its reportedly fake license data. At the time of writing, Bitspay is the fourth-largest crypto exchange by…

Reddit Introduces ‘Contributor Program’ to Award Users with Real Money

Along with the Contributor Program, Reddit has announced an update to Reddit Gold – a paid feature that allows users to personalize their profiles. American social news website and forum Reddit has announced a new program where qualifying users can be rewarded with money for their contributions. Within the Contributor Program, qualifying Redditors, including mods, can receive fiat money for the content they share on Reddit. The content will be estimated based on the karma and gold they’ve been given. To take part in the program, contributors must be over 18 and reside in…

NASA Plans to Leverage Blockchain Technology for Its Next Moon Landing

In early 2024, NASA, along with Florida-based startup Lonestar and the Isle of Man, plans to send a payload to the Moon containing “data cubes” whose contents will be authenticated using blockchain technology when they return to Earth. In February 2024, the United States National Aeronautics and Space Administration (NASA), in collaboration with Lonestar, a Florida-based computing startup, and the Isle of Man, is set to dispatch a payload to the Moon. This payload will carry “data cubes” whose contents will be authenticated using blockchain technology upon return to Earth.…

Can ADA Price Reverse Its Downward Trend?

boss

Cardano (ADA) finds itself at a pivotal juncture as it tests its longstanding support at $0.24. This critical level has held firm for nearly three years, emerging as a significant accumulation point for savvy investors.  The recent daily candle hints at a somewhat neutral stance in the market. This slight uptick in price suggests a potential dissipation of the strong bearish sentiment that has lingered, with traders now recognizing renewed buying interest hovering around the $0.24 mark. Bullish Hopes Rest On Breaking Sustained ADA Resistance The eyes of Cardano enthusiasts…

Taiwanese Regulator Issues Guidance for Crypto Firms as it Steps Up Oversight

Under the new guidance, crypto issuers would have to publish a white paper, and exchange platforms must set up a review mechanism for listing and delisting virtual assets. Among other requirements, the regulator said firms should also custody platform assets and customer assets separately. Overseas firms will have to register locally in accordance with company and anti-money laundering laws before serving customers. Source

US National Debt Increases by $14B Every Day since Crossing $33T Last Week

As the US national debt rises, some estimates suggest a possible $45 trillion level over the next couple of years. The United States’ national debt has consistently risen since it hit and crossed $33 trillion last week. According to the weekly financial analysis publication The Kobeissi Letter, the US national debt has increased by more than $100 billion since then. The Kobeissi Letter reported on September 19 that the national debt in the US hit record levels due to the effect of interest rate increases on the economy. The publication added…

Crypto Influencer Ben ‘BitBoy’ Armstrong Arrested during Live YouTube Broadcast

The arrest follows a series of controversies surrounding Armstrong. In late August, Hit Network, the entity overseeing the “BitBoy Crypto” brand, severed ties with Armstrong due to concerns related to substance abuse and financial issues affecting employees. Crypto influencer Ben Armstrong, known as BitBoy Crypto, found himself in handcuffs on Monday evening as he attempted to confront a former business associate, Carlos Diaz, in a bizarre turn of events that played out during a live YouTube broadcast. Armstrong intended to reclaim his Lamborghini, which he alleged was in Diaz’s possession.…

Sam Bankman-Fried’s lawyer renews request for temporary release from jail

boss

The lawyer representing Sam Bankman-Fried (SBF) in his upcoming case against the United States Department of Justice submitted a renewed request for his temporary release from jail in order to prepare for the trial. On Sept. 25, Mark Cohen requested that Judge Lewis Kaplan, who is presiding over the case, allow SBF temporary release as it is “necessary for preparation of [his] defense.” “We submit that we are finding it exceedingly difficult as a practical matter to adequately prepare for trial with the restrictions on access currently in place.” He…