Month: September 2023

Bitcoin price settles at $26.5K as key Fed inflation week dawns

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Bitcoin (BTC) circled $26,500 into the Sep. 17 weekly close after new September highs gave way to calmer conditions. BTC/USD 1-hour chart. Source: TradingView Bitcoin saves volatility for weekly close Data from Cointelegraph Markets Pro and TradingView showed BTC price performance stabilizing over the weekend. The largest cryptocurrency had seen a trip to $26,880 two days prior, this marking its highest levels of the month so far. Summarizing the state of the Binance BTC/USD order book, popular trader and analyst Credible Crypto noted that a cluster of bid liquidity was…

Investors exiting LidoDAO and ApeCoin to explore new crypto project

From early September, LidoDAO (LDO) prices fell. ApeCoin (APE) followed suit but more investors are exploring a new crypto project, Domini.art (DOMI). LDO drops following contract exploit On Sep. 10, blockchain security firm SlowMist revealed that Lido’s code doesn’t follow the guidelines set by the ERC-20 token standard, allowing users to conduct transactions despite a lack of funds.  Experts believed this loophole made LidoDAO vulnerable to hacks. In response to SlowMist’s post, LidoDAO assured users that their LDO and sETH tokens were safe and secure. Following this news, LDO dipped…

NRL and Youtube stars reach settlement in FTX class-action lawsuit: Report

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NRL quarterback Trevor Lawrence and YouTube influencers Kevin Paffrath and Tom Nash have reportedly settled a lawsuit over alleged inadequate compensation disclosure in their promotions for the now-defunct cryptocurrency exchange FTX. According to a Sept. 16 Bloomberg report, the three high-profile individuals have entered proposed agreements, however the settlement terms were not disclosed. Among the high-profile celebrities and influencers entangled in the class-action lawsuit, Lawrence, Paffrath and Nash are the first to reportedly reach a settlement. Related: Influencer served settlement demand via NFT following $7M token presale Other celebrity defendants in…

FTX bolsters claims portal security measures following cyber breach

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Bankrupt cryptocurrency exchange FTX has restored its customer claims portal, which was previously shut down due to a cyber attack. Claimants can now continue to submit asset claims they held on the exchange before it became insolvent.  On September 16, FTX made a statement on X (formerly Twitter), confirming that none of its systems were affected by the cyber breach involving its appointed bankruptcy claims agent, Kroll. FTX provided the following update regarding the recent Kroll cybersecurity incident. Claimants may now resume activities on our platform: https://t.co/DkYi2hDLbI. pic.twitter.com/Nfob4QQxjv — FTX…

Paxos’ $500K Bitcoin fee, FTX tokens sales set to begin, and more

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Top Stories This Week Paxos confirms it’s responsible for paying a $500K Bitcoin transaction fee The Bitcoin miner who received 19.8 BTC in fees from blockchain infrastructure firm Paxos has returned the funds following Paxos’ claim that it made a mistake in paying over $500,000 in transfer fees. On Sept. 10, Paxos paid the six-figure fee to move $2,000, with the average network fee typically being around $2. The company later acknowledged the mistake, confirming the transfer came from its servers. Almost a day after Paxos’ claims, the Bitcoin miner…

SHIB burn rate pops 350% in 24 hours

Shiba Inu (SHIB), the meme coin launched by anonymous founder Ryoshi, is making waves again as its burn rate soars by 350% within just 24 hours.  SHIB burn rate surges Shiba Inu’s burn rate, a mechanism designed to reduce the amount of SHIB tokens in circulation, has experienced an extraordinary surge. Data from Shibburn, a portal tracking SHIB’s burn metrics, reports a 350% increase in the burn rate over the past 24 hours. In perspective, approximately 150 million SHIB tokens were burned during this short timeframe. Shibburn provides essential insights…

how asset tokenization is reshaping the status quo

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The Boston Consulting Group estimates the tokenization of real-world assets could become a $16 trillion industry in the coming years. Its impact, however, goes well beyond financial figures, and can help people in developing countries to find new ways to deal with real-world problems. During a panel moderated by Cointelegraph’s editor-in-chief Kristina Lucrezia Cornèr at Swiss Web3 Fest, industry experts provided insights into how tokenization can be applied to real-world assets, and how it is enabling solutions never seen before. “Our farmers, in Kenya, receive their payouts days after the…

Tether (USDT) Movement Signals ‘Future Buy Interest’ As Bitcoin and Ethereum Supply on Exchanges Dips: Santiment

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Troves of the top stablecoin USDT are moving back onto crypto exchanges, a potentially bullish indicator, according to the crypto analytics firm Santiment. Santiment notes 24.1% of USDT’s total supply now sits on exchanges, the highest level since March. The analytics firm also notes that Bitcoin (BTC) and Ethereum’s (ETH) supply on exchanges has resumed going down, indicating traders are comfortable in HODLing the top two crypto assets. Santiment calls those two trends “a golden combination” which the firm says indicates “more future buy interest.” Source: Santiment/X Additionally, the analytics…

Gemini accuses Barry Silbert’s DCG of fraudulent practices

Gemini, the crypto exchange founded by brothers Tyler and Cameron Winklevoss, has filed a lawsuit against Barry Silbert’s Digital Currency Group (DCG) alleging fraud. According to the court filing, filed on Sept. 15, Gemini claims that DCG is trying to avoid accountability for the damage inflicted on the victims of its Earn product and other creditors. This legal action by Gemini is a direct response to a recent statement issued by DCG concerning a proposed agreement involving the latter, the debtors, and the Official Committee of Unsecured Creditors. Gemini’s allegations…