Month: September 2023

Blockchain could authenticate AI as crypto racks up court victories: Rep. Emmer

Blockchain could be used to authenticate the real from what is generated by artificial intelligence, Congressman Tom Emmer suggested Sept. 11 at the Permissionless II conference. That would combine nicely with other progress being seen in United States cryptocurrency policy, he said. Speaking on a panel, Emmer began on a cautious note, saying the recent Ripple and Grayscale wins in court are still subject to appeal. But an upcoming United States Supreme Court ruling “is going to perhaps […] put a stake into the heart of the administrative state.” Emmer…

XRP bucks trend as crypto assets experience 4th straight week of outflows

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Cryptocurrency asset outflows for the week of Sept. 3 through 9 totaled $59.3 million, bringing the current run to $249 million over four consecutive weeks.  Bitcoin (BTC) experienced the bulk of activity last week, with its $68.9 million in outflows offset by Short Bitcoin inflows in the amount of $15.2 million and $0.7 million from XRP (XRP). According to CoinShares, regulatory and financial market insecurity are to blame for the streak: “We believe continued worries over regulation of the asset class and recent dollar strength are the most likely reasons…

Rollbit, Arbitrum, The Graph lead losses, Bitcoin dips below $25,000: Markets

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Rollbit, Arbitrum, and The Graph bear the brunt of crypto market fluctuations as Bitcoin falls below $25k for the first time since June. Cryptocurrency markets have seen a slight wave of volatility, as the overall market is down by 2.8% in the past 24 hours. Among the top losers were Rollbit Coin (RLB), Arbitrum (ARB), and The Graph (GRT).  Rollbit Coin (RLB) nosedived 18.5% within a day, currently trading at $0.1293 at the time of writing. Arbitrum is also down by 10% over the same time frame. Indexing token The…

Crypto CEO Bags Record Breaking Prison Sentence For $2 Billion Theft

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Former CEO Faruk Fatih Özer of the bankrupt Turkish crypto exchange Thodex has been given a record-breaking prison sentence for stealing $2 billion in customer funds. Crypto CEO Sentenced To 11,196 Years Prison Sentence On Thursday, September 7, 2023, the former CEO of Thodex, which was one of the biggest cryptocurrency exchanges in Turkey, was reportedly sentenced to 11,196 years, 10 months, and 15 days in prison for several criminal charges including fraud, leading a criminal organization, and money laundering by the Anatolian 9th Heavy Penal Court. The former CEO…

Bitcoin price dips below $25K — Opportunity, or sign of incoming disaster?

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Bitcoin stands at the edge of a bearish breakdown, with a small possibility that the $25,000 support level could hold. On Sept. 11, Bitcoin (BTC) broke from its parallel range between $25,500 and $26,500, falling to an intraday low at $24,950. A daily close below $24,750 threatens a drop to the sub-$20,000 range, but there’s a slight chance that the bullish momentum could revive. According to pseudonymous trader Horse, Bitcoin at $25,000 presents a short-term buying opportunity, as it’s the “best area to trap sellers” and “arguably the best place…

Bitcoin Dips Below $25,000 As Former Paypal President Hails It As Universal Internet Currency

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In an interview with CNBC on Monday, David Marcus, former President of Paypal and Head of Facebook Payments, expressed his belief that Bitcoin (BTC) is the universal protocol for money on the internet.  He emphasized Bitcoin’s significance as the flagship cryptocurrency and its core value as a payment solution while discussing its potential as a global payment network. Bitcoin As The Universal Protocol For Internet Money Despite enduring a challenging period and navigating various headwinds in recent months, Bitcoin remains at the forefront of the cryptocurrency market. According to Marcus,…

Google Chrome launches built-in user tracking for advertisers

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Google Chrome launched its built-in tracking and ad-curation platform, “Privacy Sandbox,” on Sept. 7 for general availability, according to a company blog post. The platform was originally rolled out to a small percentage of users but is now available to around 97% of users. Google said the remaining 3% will be onboarded over the next few months. Privacy experts have criticized the new tracking system. But in its announcement, Google defended it, stating that Privacy Sandbox needs to be implemented to eliminate third-party cookies and fingerprinting. Google is introducing Privacy…

Will the CFTC Blot Out DeFi in the U.S.?

In its press release, the CFTC was specific about the labels it would have applied to the DeFi apps. Opyn, for instance, a type of decentralized insurance provider, should have had licenses for a “swap execution facility” (SEF) and “designated contract market” (DCM) as well as a “futures commission merchant” (FCM), the agency wrote. Source

Teenage crypto hacker to return $5.2m and forfeited sports car

US judge sentenced a teenage crypto hacker to return stolen BTC worth nearly $5.2 million and a sports car he bought with the illicit funds. The hacker, identified as Wagaafe Hared, is a teenager from Arizona who was part of a crypto theft ring that has operated since 2016. According to The San Francisco Standard, Hared and his two accomplices targeted wealthy tech investors and executives in the San Francisco area, known for its extensive fintech and technology hub. They used SIM swapping, a form of identity theft where an…