Day: September 29, 2023

Ethereum Price Registers Breakout But Lacks Momentum, $1,620 Is The Key

Ethereum price is attempting a fresh increase above $1,650 against the US Dollar. ETH could accelerate higher if it clears the $1,670 resistance. Ethereum is attempting a fresh increase above the $1,620 level. The price is trading above $1,620 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,645 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $1,670 resistance zone. Ethereum Price Climbs Higher Ethereum’s price formed a base above…

FTX founder to stand trial over 6 weeks

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Former FTX CEO Sam Bankman-Fried will spend at least 21 days in court as part of his criminal trial, which will begin in earnest on Oct. 4 and last until Nov. 9, according to a newly released trial calendar posted to the public court docket. The burgeoning trial calendar, released on Sept. 28, begins on Oct. 3 with jury selection. The first official date of the Bankman-Fried trial is Oct. 4, where they will begin discussing seven fraud charges laid against him. There are two substantive charges where the prosecution must…

Bitcoin Price Breaks Higher, Is the Rally Just Getting Started?

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Bitcoin price is gaining pace above the $26,700 resistance. BTC is consolidating above $26,800 and might continue to rise above the $27,200 resistance. Bitcoin gained pace above the $26,500 and $26,700 resistance levels. The price is trading above $26,700 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $26,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate higher above the $27,200 resistance zone. Bitcoin Price Aims Higher Bitcoin price remained stable above the…

Genesis went bankrupt months after Gemini reportedly withdrew $282M in crypto

Gemini Trust Co., a crypto exchange, reportedly withdrew $282 million from Genesis Global Holdco LLC months before Genesis filed for bankruptcy. Genesis and Gemini used to work together on the Earn program. Under this initiative, Gemini allowed users to lend crypto via Genesis and earn returns. This partnership appeared mutually beneficial until Gemini withdrew millions from Genesis. Anonymous sources disclose that Gemini withdrew approximately $282 million from Genesis to establish a financial reserve, ensuring swift access to funds for Gemini Earn users. Importantly, none of these funds went into the…

VanEck releases two ETF ads ahead of possible Monday launch

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Investment manager VanEck has fired up the marketing engine for its “upcoming” Ethereum futures exchange-traded fund (ETF), which some analysts expect could be launched as early as Oct. 2. On Sept. 28, VanEck released the two “Enter the Ether” themed TV commercials, revealing that its Ethereum Strategy ETF — tickered EFUT — is “coming soon.” AI, AI, Uh Oh! Follow for updates on how to Enter the Ether. pic.twitter.com/wM69nVtbWC — VanEck (@vaneck_us) September 28, 2023 The commercials came on the same day VanEck published a press statement about its upcoming…

Snook launches on Arbitrum, to distribute USDC rewards

Snook, a multiplayer game, is launching on Arbitrum, an Ethereum layer-2. The move is aimed at expanding its player base and introducing USDC, a stablecoin, to complement its native token, SNK. Snook deploys on Arbitrum, enhance gaming experience Snook is a fast-paced blockchain game focused on rewarding gamers based on their skill and effort to thrive in a kill-or-be-killed environment.  The player’s ability to perform directly decides the value of their non-fungible token (NFT) character that can be sold in the secondary market.  The platform aims to enhance  gaming experience…

Sam Bankman-Fried Scoops Help CoinDesk Win a Loeb Award

The centerpiece story was Allison’s explosive Nov. 2, 2022, piece that raised questions about how sturdy Alameda Research, Bankman-Fried’s large trading firm, was – and, by extension, how safe the billionaire’s affiliated and better-known crypto exchange FTX was. Other CoinDesk stories honored by the Loebs revealed the unusual living arrangements of Bankman-Fried’s inner circle, documented (as it was still happening) a massive hack of FTX as the company was collapsing and gave readers a colorful view inside Bankman-Fried’s first court appearance. Source

Billionaire Takes Over As GameStop CEO, Bullish For Dogecoin?

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Billionaire investor Ryan Cohen has been appointed as the new Chief Executive Officer (CEO) of GameStop, a brick-and-mortar video game retailer in the United States, a move that could potentially impact Dogecoin. GameStop’s stock and the Dogecoin price have shown signs of correlation. Before assuming this role, Cohen had been the Executive Chairman of GameStop since January 2022 and remained the largest shareholder. The experienced investor takes over in what analysts said is an attempt by the board to turn around the fortunes of the public company. Pro-GameStop Billionaire Takes Over…

BIS and central banks of France, Singapore, and Switzerland wrap up CBDC project

The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have completed Project Mariana. Project Mariana focused on the cross-border trading and settlement of CBDC between financial institutions by applying the decentralized finance (defi) technology. The initiative was developed by three financial innovation hub centers (the Swiss, Singapore, and Eurosystem Hub Centres) with Banque de France, the Monetary Authority of Singapore (MAS), and the Swiss National Bank (SNB). Each bank tested a different CBDC related to their local currency, such as digital euro, Singapore dollar,…

Zuck’s ‘incredible’ photorealistic tech wows crypto twitter

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While critics have been busy writing eulogies for Meta’s metaverse dream over the last few years, Mark Zuckerberg’s latest demonstration of its photorealistic avatars shows it could be pretty far from dead after all. Appearing on a Sept. 28 episode of the Lex Fridman podcast, Zuckerberg and the popular computer scientist engaged in a one-hour face-to-face conversation. Only, it wasn’t actually in person at all. Instead, the entirety of Fridman and Zuckerberg’s conversation used photorealistic realistic avatars in the metaverse, facilitated through Meta’s Quest 3 headsets and noise-canceling headphones. Here’s…