“My baseline scenario is bitcoin to move higher and eventually move past that $31,000-$32,000 barrier,” Kampenaer said. But it has to happen in the next 6-8 weeks, he added, otherwise the level could put a lid on BTC’s price for a longer time. “If it remains suppressed and under that barrier, it becomes stronger and more difficult to break.” Original
Within 20 days of announcing the acquisition of Fortress Trust to allegedly expand its pool of licenses in the United States, financial technology firm Ripple is pulling out of the deal. Ripple’s CEO Brad Garlinghouse made the announcement on X (formerly Twitter) on Sept. 28, saying that “we’ve since made the decision not to move forward with an outright acquisition,” although Ripple will remain a shareholder in Fortress Trust’s parent company Fortress Blockchain Technologies. Ripple first announced the acquisition on Sept. 8, surprising even company insiders with the news, Cointelegraph…
“The Fortress team is incredibly talented, and has built products solving real customer problems. While this outcome is different from what was originally planned, we’ll continue to support them and hope to work together in the future,” Garlinghouse added. Source
The world’s flagship crypto, Bitcoin (BTC), is showing some signs of tension. While external events frequently steer its course, the latest headwinds arise from within its mining community, as recent data suggests mounting selling pressure from Bitcoin miners. Miles Deutscher, a seasoned crypto analyst, has been vocal about this emerging trend, casting light on what might be a significant underlying issue in the Bitcoin realm. Given the innate mechanics of Bitcoin, miners play a pivotal role not just in transaction verification but also in the coin’s overall market dynamics. Selling…
PayPal made major progress toward creating its own blockchain ecosystem by filing a patent application for a nonfungible token (NFT) purchase and transfer system. The application, filed in March and published Sept. 21, describes a means of carrying out transactions with NFTs, both on- and off-chain. The patent application, which is still pending, describes a system where users can buy and sell NFTs through a third-party service provider. That provider is not specified, though Ethereum is mentioned in the text. Related: PayPal enables US users to sell cryptocurrency via MetaMask…
AlphaSense, a business-to-business artificial intelligence (AI) platform specializing in business intelligence and search, announced the successful completion of a $150 million Series E funding round led by Bond and joined by Google parent company Alphabet’s investment arm, CapitalG, as well as Goldman Sachs and Viking Global. The latest round saw the company’s valuation grow from $1.7 billion, its value upon raising $225 million during its Series D in June of 2023, to $2.5 billion. Today, we are incredibly proud to announce a $150M Series E funding round led by the…
Buenos Aires, the capital of Argentina, is making a major move toward integrating its bureaucracy with blockchain technology. Starting in October, the city’s 15 million residents can access identity documents via a digital wallet, according to an announcement on Sept. 28. The first documents to be available on-chain include birth and marriage certificates, along with proof of income and academic verification. The announcement notes that health data and payment management will be integrated in the future, and that a roadmap for rolling out the blockchain-based solution across the country will…
A research firm has revealed an altcoin trading playbook that could serve as a guide for navigating the next cryptocurrency bull run. K33 Research Shares Its Altcoin Trading Playbook In a new post on X, K33 Research (formerly Arcane Research) explained that new altcoins make better trades than old ones. The firm has given a few reasons for why this is so. “In lack of price-driving fundamentals, the narratives and liquidity matter,” explains the research organization. “And new coins generally outperform old coins.” K33 Research has used the example of…
Edging towards the public Ethereum mainnet has always been a delicate business, given that banks have traditionally viewed public blockchains as more or less radioactive, both a reputational and compliance risk. JPMorgan’s head of Onyx Digital Assets, Tyrone Lobban, noted that the public Ethereum chain has evolved significantly over time, from the proof-of-work consensus mechanism to proof-of-stake. (The former is more energy-intensive and has made Bitcoin a bete noire of environmentalists, giving ESG-conscious banks reason to prefer the latter.) Plans to add better scaling technology and multiple data layers on…
A report from blockchain data analytics platform Chainalysis has revealed that the majority of crypto transactions in the United Arab Emirates (UAE) from July 2022 to June 2023 have been whale transactions, crossing over $1 million each. Majority Of UAE Crypto Transactions Exceeds $1 million The report from Chainalysis reveals that institutional investments accounted for the majority of cryptocurrency transactions in the UAE with over 67% from July 2022 to June 2023. The Institutional investments in the country range from $1 million, followed by professional investments ranging from $10,000 to…