Day: October 11, 2023

Jim Cramer believes ‘Bitcoin is about to go down big’

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Jim Cramer, a prominent TV financial commentator, recently discussed potential investment opportunities, including his views on Bitcoin and the broader financial landscape. Jim Cramer, a notable TV personality and financial advisor known for his lively discussions on CNBC’s “Squawk on the Street,” recently shared his reservations about potential investment opportunities. On a recent show, Cramer expressed skepticism about gold and shifted his focus to the ever-popular cryptocurrency, Bitcoin (BTC). Cramer remarked, “I can’t be in something where Mr. Bitcoin is about to go down big,” sparking debate and speculation among…

How Blockchain-Based Digital Wallets Transform Finance and More

Today, individuals, many small and medium enterprises as well as institutions operate across a fragmented set of financial accounts that each require separate types of paper-based documentation (often stored in electronic form). For individuals, this includes checking and savings accounts that deal with the entity’s cash; brokerage and investment accounts that deal with retirement, education, healthcare and more; liability accounts that deal with mortgages, loans, lines of credit or credit cards; and a significant number of accounts that relate to the individual’s assets, valuables and collectibles including special documents such…

Caroline Ellison provided 7 ‘alternative’ balance sheets hiding Alameda’s exposure to FTX

Testifying on the sixth day of Sam “SBF” Bankman-Fried’s criminal trial in New York, former Alameda Research CEO Caroline Ellison admitted to providing fudged numbers for review by Genesis. According to reports from the courtroom on Oct. 11, Ellison claimed Bankman-Fried directed her to create “alternative” balance sheets on Alameda’s use of crypto exchange FTX’s funds. She reportedly testified that she had provided 7 spreadsheets, one of which SBF presented to Genesis. The document did not reveal Alameda had borrowed $10 billion from FTX. “Sam said don’t sent the balance…

Crypto CEO Delivers Bad News For The Altcoin

Amidst the debate on the XRP price future trajectory, the CEO of Evai Crypto Ratings, Matthew Dixon, has provided insights into the token’s direction using the Elliot Wave Theory. However, his analysis doesn’t provide any relief to XRP holders as he projects a further decline for the token and its ecosystem. How XRP Price Is Looking On The Charts In a tweet shared on his X (formerly Twitter) platform, Dixon shared a price chart of XRP dating back to July, when Judge Analisa Torres ruled in favor of Ripple against…

Standard Chartered predicts Bitcoin’s future value

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Standard Chartered forecasts potential growth in Bitcoin’s valuation, emphasizing mining dynamics and intrinsic supply constraints as key drivers. Recent forecasts published on Oct. 11 by Standard Chartered suggest that Bitcoin, the leading cryptocurrency, could experience significant price appreciation in the coming years. While the bank had predicted a $100,000 valuation for Bitcoin by the end of 2024, the latest insights from their top FX analyst, Geoff Kendrick, indicate a possible 20% increase to that figure. Bitcoin’s (BTC) volatile journey has seen an impressive 80% price increase since the beginning of…

ExxonMobil Inks $59.9B Acquisition Deal with Pioneer Natural Resources

The announcement of this landmark deal follows a recent report which hinted at the two companies’ progress toward an agreement. Since that report, Pioneer shares have surged by over 10%. ExxonMobil Corp (NYSE: XOM) has announced its agreement to acquire shale rival Pioneer Natural Resources Co (NYSE: PXD) for a staggering $59.5 billion in an all-stock transaction, equivalent to $253 per share. The deal has captured the attention of the financial industry and is set to significantly reshape the landscape of the energy industry. This acquisition marks Exxon’s most substantial…

$9,990,000,000 in Tether (USDT) Sitting on Crypto Exchanges, at Highest Level in Seven Months: Santiment

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Blockchain analytics platform Santiment says that huge amounts of stablecoin Tether (USDT) are returning to crypto exchanges, which is often a bullish signal. The analytics platform says that the amount of USDT on exchanges has reached a level last seen in March 2023, giving a boost to the “buying power” of crypto investors. “The $9.99 billion worth of Tether sitting on exchanges is the highest level of buying power for crypto’s top stablecoin in approximately seven months. Since June 13th, these exchanges have seen a 40% increase in available USDT.”…