Day: October 12, 2023

Westerners See El Salvador as a Template for a New Monetary System

In this era of fiat debasement, Stajnar believes that El Salvador is a beacon of hope for other countries. Investors across the world are starting to consider the counter party risk involved with holding assets in Western countries that are potentially at risk of a future sovereign default. Meanwhile, the BRICS nations are building an alternative system, pushing a global trend toward de-dollarization (though they insist that they are not junking the dollar just yet). Drip, drip, drip, flood. Source

Voyager Ex-CEO Ehrlich Charged by U.S. Regulators With Fraud, Making False Claims

“Ehrlich and Voyager lied to Voyager customers,” said Ian McGinley, the CFTC’s enforcement director, in a statement about the suit, which calls for restitution, penalties and industry bans for the former executive. “While representing they would treat customers’ digital asset commodities safely and responsibly, behind the scenes, they took shockingly reckless risks with their customers’ assets, leading to Voyager’s bankruptcy and huge customer losses.” Source

CFTC announces lawsuit against Voyager Digital and former CEO

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The United States Commodity Futures Trading Commission (CFTC) has filed a complaint against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. In an Oct. 12 announcement, the CFTC said it had filed a lawsuit in the U.S. District Court for the Southern District of New York against Ehrlich and Voyager for alleged fraud and “registration failures” connected to the platform and its “unregistered commodity pool.” The commission said it planned to seek restitution, disgorgement, civil monetary penalties, and permanent trading and registration bans. “Ehrlich and Voyager falsely…

What To Expect This Month For XRP Price According To Historical Data

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The XRP price has had a rollercoaster growth trajectory which was mostly hindered by the US Securities and Exchange Commission (SEC) filing a lawsuit against Ripple. But a lot of the altcoin’s performances over the months have been rather predictable, and with its history, we can get an idea of what to expect for the XRP price this month. October Not Looking Good For XRP Price In a heat map of historical XRP price data generated by NewsBTC, we can see how the month of October has usually gone in…

Trader swaps 131k stablecoins for $0 during USDR depeg

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During yesterday’s real-estate-backed U.S. dollar stablecoin Real USD (USDR) crisis, a trader appears to have swapped 131,350 USDR for 0 USD Coin (USDC), resulting in a complete loss on investment. According to the October 12 report by blockchain analytics firm Lookonchain, the swap occurred on the BNB Chain through decentralized exchange OpenOcean, at a time when USDR depegged from par value by nearly 50% due to a liquidity crunch. A maximal extractable value (MEV) bot subsequently picked up the discrepancy, netting a total of $107,002 in profits through an arbitrage…

Bitfinex introduces zero-fee trading for Latin America

Bitfinex, has announced that it has introduced zero-fee trading for market takers on its peer-to-peer (P2P) platform in Argentina, Colombia and Venezuela. The initiative, which will run until Dec. 31, aims to support the growing demand for crypto trading and adoption in the Latin American region. Bitfinex’s P2P platform, also known as Bitfinex Peer-to-Peer Trading or Bitfinex P2P, allows users to trade cryptocurrencies directly with each other without intermediaries or third-party custody. Users can create their offers or accept existing ones using various payment methods such as bank transfers, cash,…

Analyst suggests The Fed could push Bitcoin to $20,000

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Popular cryptocurrency YouTuber CryptoBanter believes Bitcoin (BTC) could fall to $20,000 in the near future amid ongoing economic uncertainty. In his Oct. 12 livestream, CryptoBanter analyzed the latest price action and macroeconomic factors impacting Bitcoin. He believes the leading cryptocurrency remains at risk of further declines after breaking below several key support levels. If Bitcoin starts to break and close below that $25,000 level I’ll tell you almost the same thing over here, and give you a different visual perspective. You can see prices operating within the top side of…

Bitcoin Finds Rejection At This Historical Line, Bear Market Back On?

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On-chain data shows Bitcoin has failed in its latest retest of a historically significant metric, a sign that a bearish trend might have taken over. Bitcoin Has Been Rejected From The Short-Term Holder Cost Basis As pointed out by an analyst in a post on X, BTC is currently facing resistance at the short-term holder’s realized price. The “realized price” here refers to the cost basis or acquisition price of the average investor in the Bitcoin market. When the spot price of the cryptocurrency is below this level, it means…