Month: September 2023

Tron’s Justin Sun Mulls Over Making A Move On FTX’s Crypto Stash, Here’s Why

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In a completely unexpected move, Justin Sun, Founder of Tron and Advisor to Huobi Global has expressed his interest in acquiring FTX’s considerable crypto assets worth billions of dollars.  Justin Sun Considers Making A Bid For FTX Crypto Assets Justin Sun, Creator of Tron, one of the world’s largest blockchain ecosystems, has hinted at the possibility of acquiring the assets of insolvent crypto exchange FTX. This statement comes a year after the crypto billionaire was contemplating a majority takeover of Huobi Global.  According to data from Messari, a provider of…

Bitcoin derivatives data suggests BTC price holds the current range

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Bitcoin (BTC) experienced a 5% increase after testing the $25,000 support level on Sept. 11. However, this breakout rally doesn’t necessarily indicate a victory for bulls. To put today’s price action in perspective, BTC has witnessed a 15% decline since July. In contrast, the S&P 500 index and gold have maintained relatively stable positions during this period.  This underperformance demonstrates that Bitcoin has struggled to gain momentum, despite significant catalysts such as Microstrategy’s plan to acquire an additional $750 million worth of BTC and the multiple requests for Bitcoin spot…

Banana Gun’s redemption plan after BANANA token crash

The launch of the BANANA token faced a catastrophic glitch, causing a drastic price drop shortly after its debut. Amidst accusations and chaos, the team is working on a recovery plan. BANANA token, a much-anticipated token of Banana Gun, a Telegram bot, was launched on Sept. 11 and immediately grabbed the attention of many cryptocurrency fans. Yet, even though experts checked the system carefully twice, a small error in the smart contract slipped by, causing trouble just a few hours after it started. The bug was discovered by ChatGPT, opening…

21co introduces wrapped tokens of XRP, Bitcoin, other tokens

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21co, the parent company of 21Shares, has expanded its product offerings by launching eight wrapped tokens. 21co, the parent organization of 21Shares, a provider of crypto exchange-traded products (ETPs), has made its foray into the world of wrapped tokens. With the launch of eight different wrapped tokens, including those for Bitcoin (BTC), BNB, XRP, and Cardano (ADA), the company seems to aim to position itself as an enabler for cross-chain compatibility. Wrapped tokens are essentially digital assets that mirror the value of crypto from other blockchains. By doing so, these…

Arbitrum Price Sinks To A New All-Time Low

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Arbitrum has managed to maintain its place amongst the top names in decentralized finance (DeFi) despite the unfavorable conditions gripping the space in 2023. However, the price of ARB (the network’s native token), met with a euphoric welcome in March, has been struggling. The Arbitrum token’s price tumbled to a new historical low of $0.747217 on Monday, the 11th of September, with its honeymoon phase seemingly over. The token’s value dipped by more than 12% in the past week, leaving investors wondering what could be behind this bearish movement. Whales…

Gary Gensler confirms SEC’s use of AI for financial surveillance

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United States Securities and Exchange Commission (SEC) Chair Gary Gensler testified on Sept. 12 in a Senate oversight hearing that his agency was currently using artificial intelligence (AI) technologies to monitor the financial sector for signs of fraud and manipulation.  Gensler gave a public speech before the National Press Club on July 17 wherein he laid out the case for integrating AI technologies into the SEC’s surveillance scheme, but until now, the agency’s explicit use of the tech hadn’t been made public knowledge. When asked by Sen. Catherine Cortez Masto…

OneCoin co-founder Greenwood gets 20 years in US jail for fraud, money laundering

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Karl Greenwood, co-founder of OneCoin with Ruja Ignatova, was sentenced in the United States to 20 years in prison and ordered to pay $300 million on Sept. 20. Ignatova remains at large. Greenwood, who is a citizen of the United Kingdom and Sweden, was sentenced in the U.S. District Court for the Southern District of New York. In a statement by the Justice Department, U.S. Attorney Damian Williams called OneCoin “one of the largest fraud schemes ever perpetrated.” The multilevel marketing and Ponzi scheme reaped $4 billion from 3.5 million victims, the…

Vitalik Buterin Wants a Better Crypto Mixer

But for most people in the world, Ethereum is crypto. And today there’s no way to, say, pay for a meal on-chain without revealing your entire financial history, and that’s a bad thing. At some point Ethereum will need a workable solution for privacy, if only because it’s an expectation everyone already has for “crypto.” Naked blockchains don’t work, and neither do privacy cloaks like Tornado Cash. Source

Bitcoin Price Imminent Crash To $23,000, These Are The Catalysts

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The Bitcoin price has been moving sideways over the past few weeks, although it saw a volatility spike in the last 24 hours. However, the cryptocurrency remains stuck as sentiment turns negative, and more and more traders expect another re-test of critical support. As of this writing, Bitcoin (BTC) trades at $26,200 with a 3% profit in 24 hours. The cryptocurrency recorded a 2% profit the previous week and was the best performer in the crypto top 10 by market capitalization. BTC’s price is moving sideways on the daily chart.…