Month: September 2023

4-Month Chart Dynamics Decoded By Crypto Analyst

In a recent tweet, renowned crypto analyst, EGRAG CRYPTO, unveiled an intricate 4-month XRP price analysis which presented various crucial insights and predictions. This was encapsulated in his words: “XRP Steel Foundation & Eye-Opening Insights: Behold the chart below, crafted from 4-month candles, revealing that higher time frames are less susceptible to deceptive signals.” The Steel Foundation Of XRP Egrag’s analysis draws attention to two major price zones, zone A and zone B, each with its own ultra-strong support zone which he metaphorically describes as the “steel foundation”. For zone…

Improbable Reports 85% Reduction in Losses for 2022 as Metaverse Focus Pays Off

In addition to the metaverse, Improbable attributed the robust financial earnings to a decrease in the cost of hosting large-scale virtual events.  London-based virtual reality startup Improbable has announced a substantial reduction in its losses for the 2022 fiscal year, marking a notable shift in the company’s financial performance. The company, known for its ambitious work in creating expansive virtual worlds and experiences, reported an 85% decrease in losses compared to the previous year, bringing its losses down to £19 million ($23 million). The positive financial performance can be attributed,…

US SEC delays ARK 21Shares Bitcoin ETF ruling until January 2024

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The U.S. Securities and Exchange Commission (SEC) has extended the deadline for ARK 21Shares’ spot Bitcoin (BTC) ETF to January 2024. This extension underscores the SEC’s unchanged stance on crypto exchange-traded funds (ETFs). In a filing on Tuesday, Sept. 26, the SEC said that it finds it “appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change.” The watchdog noted it still has an additional 60 days to consider…

Mixin Network offers $20M bug bounty to hackers in $200M hack

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Mixin Network, a decentralized cross-chain protocol, in a message to the hacker behind the $200 million exploit on Sept. 23, has offered a $20-million bug bounty for the return of the remaining funds. Mixin Network encrypted the message with the exploiter transaction, requesting the exploiter to return the funds as the majority of the stolen funds were user assets. “Most of our platform assets were users, and we hope you can refund them. You can keep $20M of the assets as a BUG Bounty Reward for the BUG.” Mixin Network confirmed…

Bitwise Makes 40-Page Addition to Its Spot Bitcoin ETF Application

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Bitwise is one of many financial firms that the SEC continues to delay when it comes to considering their spot Bitcoin BTC ETF applications.  Bitwise, an asset management firm, has updated its application for a spot Bitcoin exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The 40-page addition follows after the regulator complained about the firm’s earlier proposal. That is as it pertains to using the CME BTC futures market for surveillance sharing. It might be worth noting that Bitwise is one of many financial firms…

Argentinian oil company to start mining crypto with gas power leftovers

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A Buenos Aires-headquartered oil company, Tecpetrol, has decided to convert excessive gas into energy for cryptocurrency mining.  As reported by local media on Sept. 24, Tecpetrol will launch its first gas-powered crypto mining facility in the Los Toldos 2 Este region, located north of Vaca Muerta in the Argentine Patagonia. The company claims its approach would allow it to advance its crude oil production project and optimize gas utilization, thereby reducing waste. Related: Stronghold requests permission to burn tires for crypto mining in Pennsylvania The company is planning to drill…

Gensler testimony — Crypto enforcement actions driven by “wide-ranging noncompliance”

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The United States House Financial Services Committee will hear how the Securities and Exchange Commission is changing its oversight and rules to keep pace with technological advancements, including cryptocurrencies and artificial intelligence. SEC Chair Gary Gensler is set to outline how the U.S. securities regulator is updating its rules to align with “technology and business models of the 2020s.” As is customary, Gensler’s opening remarks have been published ahead of the Sept. 27 hearing, outlining the SEC’s wider oversight of securities and exchanges in the United States. There is particular interest…

Binance to Sell Entire Russia Business to CommEX

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