Certain events have been touted as being able to impact the XRP price significantly. Some of these events already seem to be happening, raising the hopes of the XRP community that the token could indeed hit $1 before the year runs out. Ripple Expands To Singapore In a statement released on October 3, Ripple announced that its subsidiary had secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This announcement comes four months after the company received its in-principle approval from the regulator. Following this…
Day: October 4, 2023
Alameda sent $4.1B of FTT tokens to FTX before crash: Nansen report
Blockchain data analysts from Nansen have revisited the days leading up to the collapse of FTX, including the transfer of $4.1 billion worth of FTT tokens between the exchange and Alameda Research. A Nansen report shared with Cointelegraph reveals unique observations from the blockchain analytics firm, highlighting the close relationship between the two companies founded by Sam Bankman-Fried as the former FTX CEO appears in court to face a litany of charges relating to the collapse of the exchange. The collapse of FTX is widely reported to have been sparked…
TON raises 8-figure sum from MEXC to make Telegram a Web3 super-app
The Open Network (TON), a decentralized blockchain platform originally designed by Telegram, has secured major funding from the venture arm of the cryptocurrency exchange MEXC. TON has raised an eight-figure investment from MEXC Ventures, a subsidiary of MEXC’s global cryptocurrency exchange MEXC, the firm announced on Oct. 4. In conjunction with funding, MEXC and the TON Foundation have entered into a strategic partnership aiming to promote global Web3 accessibility by lowering the barriers of entry. As part of the deal, MEXC crypto exchange will provide marketing services and promotion for…
Microsoft-owned LinkedIn releases AI-powered assistant for job recruiters
The Microsoft-owned and business-focused social platform LinkedIn announced the rollout of new artificial intelligence (AI) features to assist job recruiters when sourcing candidates. On Oct. 3, LinkedIn said it is launching its pilot for the “Recruiter 2024,” which is an AI-assisted tool for recruiters. According to the announcement, recruiters using the tool can now ask questions using “natural language” to find candidates on the platform. In addition, the tool can be used to create ad campaigns for jobs. At the Talent Connect Summit in New York, LinkedIn CEO Ryan Roslansky said…
An on-the-ground report – Cointelegraph Magazine
In Cuba’s capital, Havana, a Bitcoin community has emerged from an economically antagonistic environment.“Satoshi didn’t create Bitcoin for Cubans, but it really comes in handy for us,” Forte, co-founder of the aptly named local Bitcoin organization Cuba Bitcoin, tells Magazine. Cubans are turning to Bitcoin because their money is increasingly worthless. Zimbabwe, Venezuela and Lebanon often compete for media coverage about runaway inflation levels, but the Cuban peso is not far behind. The Cuban peso has devalued so much over the last few years that carrying bags of cash is…
lack of crypto rules doesn’t impact charges against ex-FTX CEO
The United States Department of Justice (DOJ) says the lack of crypto rules in the U.S. doesn’t affect charges against ex-FTX CEO Sam Bankman-Fried (SBF). The DOJ has filed a motion to dismiss the argument that the absence of crypto regulations in the U.S. should affect the criminal charges against SBF, the former CEO of crypto exchange FTX. On Oct. 4, a motion was filed in response to Bankman-Fried’s legal team’s request for clarification and reconsideration of charges. They argued that their client wasn’t guilty of misappropriating funds because FTX…
South Korea to Start Wholesale CBDC Testing This Year
Aside from the commercial bank, the Bank for International Settlements (BIS) will participate in the pilot to provide technical guidance and expertise to users. South Korea has become the newest country to conduct a pilot program to explore the technical infrastructure necessary for a central bank digital currency (CBDC). On October 4, the Bank of Korea, with some of the country’s financial regulators, the Financial Services Commission (FSC), and the Financial Supervisory Service (FSS), announced plans to launch the trial run for the digital currency later this month. The move…
ADA Targets Range High Post Support Flip
Cardano (ADA) saw its market structure undergo a significant bullish transformation following a series of recent gains. This rally, which began in late September, has propelled ADA’s price up by more than 10% in just one week, measured from its lowest point to the recent peak. Although ADA experienced a retracement in the past few hours, it has managed to retain its overall bullish outlook. The initial signs weren’t entirely encouraging, as evidence from volume indicators hinted at dwindling buying pressure. Nevertheless, the bulls rallied with determination, successfully defending the…
New book reveals Binance CEO CZ rejected SBF’s $40M request for futures exchange
Binance CEO Changpeng “CZ” Zhao reportedly declined to pay $40 million to former FTX CEO Sam Bankman-Fried (SBF) for a futures crypto exchange in March 2019, according to an excerpt from Michael Lewis’ book Going Infinite: The Rise and Fall of a New Tycoon. According to the book, SBF proposed a futures exchange with “zero risk” in case of bad trades with high leverage. Traditionally, a futures exchange allows traders to leverage funds against a small collateral, and the exchange often asks traders to increase collateral if the trade starts…
Bitcoin has bottomed but struggling with negative liquidity
One trader believes Bitcoin (BTC) has bottomed, referencing CryptoQuant data. His preview is despite a parallel analysis by Mike McGlone, a Bloomberg analyst, who notes that the coin is still struggling with negative liquidity. The analysis is anchored on the link between public sentiment and Bitcoin prices. Often, high optimism signals a market peak. CryptoQuant uses Google Trends data and coins purchased in the past month to support this preview. Presently, data indicates low public interest in Bitcoin, suggesting that the coin is far from its peaks. Accordingly, the analyst,…