Month: September 2023

Former Celsius executive pleads guilty to price manipulation charges

Roni Cohen-Pavon, the former chief revenue officer at Celsius, has pleaded guilty to four criminal charges before a federal court in Manhattan, New York. Cohen-Pavon admitted to manipulating the market price of CEL, the primary cryptocurrency issued by bankruptcy digital asset lender Celsius. The ruling on Sep. 13 was issued by U.S. District Judge John Koeltl, according to Reuters. Following his guilty plea, Cohen-Pavon’s sentencing was set for Dec. 11, 2024. The former executive was indicted in July 2024 while federal prosecutors charged Celsius founder Alex Mashinshky with fraud and…

Market Crash Or Just Hype?

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The potential Solana (SOL) liquidation from failed exchange FTX has become a focal point for traders and crypto investors. The speculation and accompanying FUD (Fear, Uncertainty, Doubt) surrounding the potential sell-off have amplified market uncertainties. A recent court approval paved the way for the embattled exchange FTX to liquidate $3.4 billion in diverse digital assets. This move, announced by Judge John Dorsey, has set off a whirlwind of debates, especially regarding Solana, one of the assets in FTX’s portfolio. Diving Deep: FTX’s Solana Holdings And Potential Impact Among FTX’s vast…

Ethereum Leverage Ratio Is Rising, What Does It Mean?

Data shows the Ethereum leverage ratio has been going up recently, something that may lead to higher volatility for the asset’s price. Ethereum Estimated Leverage Ratio Has Risen To 23% Now As explained by an analyst in a CryptoQuant Quicktake post, the Ethereum leverage ratio is pointing at increased risk in the market. The “estimated leverage ratio” (ELR) refers to the ratio between the Ethereum open interest and derivative exchange reserve. The former of these, the “open interest,” keeps track of the total amount of positions that are currently open…

EU announces initiative to fast-track supercomputer access for AI startups

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European Union President Ursula von der Leyen announced a new initiative to give artificial intelligence (AI) startups expedited access to European supercomputers. The announcement came during the president’s 2023 EU State of the Union address on Sept. 13. We have to ensure AI develops in a human-centric, transparent and responsible way. I believe , together with partners, should lead the way on a new global framework for AI, built on three pillars: guardrails, governance and guiding innovation.#SOTEU pic.twitter.com/Nz6tSpoZ9P — Ursula von der Leyen (@vonderleyen) September 13, 2023 In introducing the…

Coinbase CEO Brian Armstrong Says Crypto Exchange Will Now Support Bitcoin Lightning Network

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Coinbase CEO Brian Armstrong says the largest US-based crypto exchange is adding support for Lightning Network, a layer-2 scaling solution for Bitcoin (BTC) that aims to address scalability issues. In a statement, Armstrong says Coinbase is working to add Lightning given the significance and importance of Bitcoin in the digital asset space. “We’ve made the decision to integrate Lightning. Bitcoin is the most important asset in crypto and we’re excited to do our part to enable faster/cheaper Bitcoin transactions. Will take some time to integrate so please be patient.” Coinbase…

SOLD OUT Synthopia NFT Drop & Updates

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Listen up, degens Summer’s out, and it is time to gear up for another season of Web3 and NFTs. Team VESA has enjoyed the refreshing (too much so at times) weather of our native Finland and some interesting connections and projects have immediately sprouted. Currently, VESA is in Switzerland for a top Web3 conference with the fastest growing crypto ecosystem in the world, Crypto Oasis, but more on that a little later. First, it’s time to give a shoutout to a friend who is a fellow pioneer in the scene…

Dueling CBDC Bills Heading for U.S. Digital Dollar Debate in Congressional Hearing

“If not designed to be open, permissionless, and private – emulating cash – a government-issued CBDC is nothing more than a CCP-style surveillance tool that would be used to undermine the American way of life,” he said in a statement, accusing President Joe Biden’s administration – even in the absence of any actual policy – of trying to set up a surveillance state to monitor citizens’ transactions. Source

Genesis Has Ceased All Crypto Trading Services: Spokesperson

“Genesis has decided to stop offering digital asset spot and derivatives trading through GGC International, Ltd. (GGCI),” the statement reads. “This decision was made voluntarily and for business reasons. With this termination of services from GGCI, Genesis no longer offers trading services through any of its business entities.” Source