Month: September 2023

Bitcoin will bring global payments out of the ‘fax era’ — Ex-PayPal boss

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While information today can be easily transferred over the internet via email or text, global payments on the other hand, have remained in a “fax era,” according to the former president of PayPal.  In a Sept. 11 interview with CNBC, the former PayPal executive and co-founder of Bitcoin Lightning-focused payment service Lightspark said he believes Bitcoin’s Lightning network could solve the cumbersome process of sending money across jurisdictions.  “If you were to stop [someone] and wanting to communicate with them you could ask them for an email address and you can email…

Ethereum is the ‘least-loved digital asset’ this year, CoinShares report shows

The European alternative asset manager, CoinShares, reports Ethereum outflows of $4.8 million the previous week, making it the least loved digital asset for ETP investors. This brings year-to-date outflows at $108 million, or 1.6% of assets under management (AuM) as of the Sept. 11 report. Continuous outflows The weekly report highlights that in the last week, digital investment products saw outflows totaling $59 million, marking the fourth consecutive week of outflows. At the same time, inflows were mostly evident in short investment products, suggesting that, as a whole, sentiment is poor…

Analysts Are Bullish On ADA But Price Keeps Tanking, What’s Going On?

One coin that analysts seem to still be bullish on is Cardano’s native token ADA. However, despite all of the faith that remains in the digital asset, the price continues to tank and has fallen below multiple important support levels. Analyst Goes Deep On Cardano In an interview hosted by Altcoin Daily, crypto analyst Hashoshi shares very bullish views on the Cardano network. He starts out by explaining that the design decisions being made by the Cardano network have been some of the better ones in the space. Going further,…

Crypto companies form Texas blockchain group to advocate for clear regulations

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A group of crypto and blockchain firms joined together to create a Texas crypto advocacy group, according to a Sept. 11 announcement. The group is called “Crypto Freedom Alliance of Texas,” and is founded by a16z crypto, Coinbase, Ledger, Bain Capital Crypto, Blockchain Capital, and Paradigm. The group is promoting “the development of coherent and predictable regulations for digital assets in Texas.” #Crypto Freedom Alliance of Texas Launches to Support Clear Digital … – Business Wire https://t.co/kn9LdN5zj1 pic.twitter.com/VzgqpEc0uC — Stock Market News (@Stock_Market_Pr) September 11, 2023 To further its goals,…

Bitcoin Flash Crashes To New H2 2023 Lows, $20,000 Incoming?

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Bitcoin, the world’s most valuable cryptocurrency, is free-falling, looking at price action on September 11. From the daily chart, BTC is trading at $25,135, a marginal improvement after dropping to H2 2023 lows of $24,951 minutes earlier following an unexpected dump in the early trading hours of the New York trading session.  The Bitcoin Sell-Off Takes Form The crash on September 11 saw the coin drop below the consolidation of the past few trading days with the bearish breakdown, looking at price action, canceling bulls of August 31, and setting…

How senators plan on regulating AI: Law Decoded, Sept. 4–11

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Last week, two United States senators unveiled a bipartisan blueprint for artificial intelligence (AI) legislation. The framework put forward by Senators Richard Blumenthal and Josh Hawley advocates for mandatory licensing for AI firms and makes it clear that technology liability protections will not shield these companies from legal action. The framework proposes creating a licensing system overseen by an independent regulatory body. It mandates that AI model developers register with this oversight entity, which would possess the authority to conduct audits of these licensing applicants. It also suggests that Congress…

Arbitrum (ARB) falls to all-time low as network usage metrics decline

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Arbitrum has emerged as a leading contender within the Ethereum network’s layer-2 scalability solutions, boasting a significant total value locked (TVL) and notable activity. However, between Sept. 9 and Sept. 11, the price of Arbitrum (ARB) tokens experienced a sharp decline of 14.5%, marking its lowest point in history. Investors are now eagerly seeking insight into the factors driving this movement and questioning whether Arbitrum still possesses the competitive edge, especially considering that irrespective of the ARB token performance, the network TVL exceeds $1.6 billion. Arbitrum (ARB) vs. competitors Polygon…

Millions in Bitcoin, Ether and Arbitrum Deposited to Exchanges By Jump Trading, Wintermute, Abraxas

CryptoX – Cryptocurrency Analysis and News Portal Asset manager Abraxas Capital transferred 14,130 ETH – worth roughly $22.5 million – to Bitfinex in two transactions, blockchain analytics firm Arkham Intelligence noted in an X post. Major market maker Jump Trading sent nearly 236 BTC – worth $5.9 million – to Binance in one installment, Arkham added. Source The post Millions in Bitcoin, Ether and Arbitrum Deposited to Exchanges By Jump Trading, Wintermute, Abraxas appeared first on CryptoX. CryptoX Portal

Defiant Gensler to Revisit Crypto Grievances in Senate, Despite XRP, Grayscale Setbacks

While Gensler will be highlighting recent enforcement actions and two of the agency’s rule proposals that effect crypto firms – a proposal on custody and one on redefining the exchange definitions to formally incorporate crypto platforms – he’ll also advise the lawmakers he won’t be able to talk about any “active, ongoing litigation,” which potentially sets aside the topics the industry is most eagerly watching, like the SEC’s high-profile cases against Coinbase and Binance. Source

$1.16B Solana, $560M Bitcoin – Is Trouble On The Horizon?

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In a recent Monday court filing, it was disclosed that the estate of bankrupt crypto exchange FTX has amassed approximately $7 billion in assets (3.4B in crypto), including $1.16 billion worth of Solana (SOL) tokens and $560 million in Bitcoin (BTC).  The news sent shockwaves through the cryptocurrency market, with SOL and BTC experiencing negative price movements. SOL And BTC Experience Declines As FTX Prepares For Liquidation Solana (SOL), trading around the $20 level on Sunday, witnessed a significant decline in response to the news. Its price plummeted to its…