Day: October 4, 2023

Historical Bitcoin Fractal Pattern Hints At Crash Below $20,000

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A detailed analysis by well-regarded crypto analyst Rekt Capital has spotlighted a recurring bearish fractal in the historical price data of Bitcoin, raising prospects of a potential crash below the $20,000 mark. Notoriously seen in 2019 and 2022, this pattern seems to be reemerging in the current 2023 market. For those unfamiliar, the fractal indicator identifies potential turning points on a price chart by highlighting repetitive price patterns. In simple terms, a bearish fractal suggests a potential decline in price. Such a pattern materializes when there’s a peak price with…

Meta to Lay Off Employees in Reality Labs Division

Today, all employees of the FAST unit will be notified about their further status. Currently, there are 600 workers under the FAST division. It is not clear how many people will lose their jobs at Reality Labs. Meta Platforms Inc (NASDAQ: META) is reportedly planning to lay off employees in Reality Labs – its business and research unit that produces virtual reality (VR) and augmented reality (AR) hardware and software. In particular, its unit called Facebook Agile Silicon Team (FAST) is subject to the cut. According to those familiar with…

LinkedIn Introduces New AI Features Powered by OpenAI

The AI-powered tools are expected to make the hiring process easier and more convenient. Instead of doing things manually, users can now get help from generative AI that will save time and require far less effort. The world’s largest professional network LinkedIn now offers AI-powered features to help businesses grow and connect. The new AI-powered tools include Recruiter 2024, Coaching Experience, and Accelerate for Campaign Manager. All of them are powered by OpenAI – an AI research and deployment company that implements machine learning. Let us have a closer look at the…

U.S. Crypto Regulation Irrelevant to Sam Bankman-Fried FTX Allegations, DOJ Says in Fraud Trial Arguments

“While the existence of a law might be relevant to establish a statutory duty of care, the absence of regulation is not relevant to whether money was, in fact, entrusted to the defendant’s care by his victims,” the DOJ filing said, adding that the existing criminal rulebook is sufficient. “There are prohibitions on misappropriating customer assets – they are the very laws that the defendant has been charged for violating.” Source

Friend.tech users blame SIM swaps after more than 100 ETH drained in a week

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Friend.tech users are warning of possible SIM-swap attacks after a recent spate of supposed hacks resulting in nearly 109 Ether (ETH) worth around $178,000 being drained from four users in under a week. On Sept. 30, the X (formerly Twitter) user known as “froggie.eth” warned their Friend.tech account was SIM-swapped — where exploiters gain control of a user’s mobile number to intercept two-factor authentication codes, then used to access accounts — and subsequently drained of over 20 ETH. Days later, on Oct. 3, a string of Friend.tech users reported similar…

Lawyers debate over Ripple case after rejection of SEC’s motion for appeal

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Crypto lawyers are seemingly divided over the significance of a recent court order from Judge Analisa Torres, which denied the United States Securities and Exchange Commission’s (SEC) plan to file an interlocutory appeal against Ripple. While many lawyers and commentators chalked the decision up as a substantive win for Ripple in its case against the regulator, other legal experts have urged the public to temper their enthusiasm. Judge Torres’ denied the SEC’s interlocutory appeal based on the grounds of her previous ruling which sided partially in favor of Ripple. She…

5 highlights of Sam Bankman-Fried’s first day of trial

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The high-profile trial of former FTX CEO Sam “SBF” Bankman-Fried kicked off on Oct. 3 with plenty of activity both inside and outside of the cramped Manhattan courtroom. Journalists, crypto influencers and other gawkers reportedly gathered in a media overflow room to take notes on the day’s events. Here are some of the most colorful observations about the day. Noticeably leaner, signature haircut gone The defendant, Bankman-Fried, appeared noticeably leaner, according to multiple reports. Flanked by five defense lawyers, he was dressed in a navy suit that seemed bigger on…

5 highlights of Sam Bankman-Fried’s first day of trial

The high-profile trial of former FTX CEO Sam Bankman-Fried kicked off on Oct. 3 with plenty of activity both inside and outside of the cramped Manhattan courtroom. Journalists, crypto influencers, and other gawkers reportedly gathered in a media overflow room to take notes of the day’s events. Here are some of the most colorful observations about the day. Noticeably leaner, signature haircut gone The defendant Sam Bankman-Fried appeared noticeably leaner, according to multiple reports. Flanked by five defense lawyers, he was dressed in a navy suit that seemed bigger on…

ADA Price Is Showing Early Signs of Fresh Drop, But 100 SMA Is The Key

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Cardano’s price started a fresh decline below $0.264. ADA is struggling and might accelerate lower if there is a close below the $0.250 support. ADA price is gaining bearish momentum below the $0.265 level against the US dollar. The price is trading above $0.250 and the 100 simple moving average (4 hours). There was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair must stay above the $0.250 support to start a fresh…