Day: October 12, 2023

Did SBF really use FTX traders’ Bitcoin to keep BTC price under $20K?

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Bitcoin (BTC) failed to hit $100,000 during the 2021 bull market because defunct exchange FTX kept selling BTC, analysis claims. In an X post on Oct. 12, Joe Burnett, senior product marketing manager at Bitcoin financial services firm Unchained, joined voices arguing that FTX executives suppressed BTC price strength. FTX testimony reveals mass BTC selling As the trial of former FTX CEO Sam Bankman-Fried, known as SBF, continues, new testimony paints a picture of market manipulation. This week, Caroline Ellison, former CEO of affiliated firm Alameda Research, reportedly told the…

Binance announces launch of perpetual contracts

Binance today announced the launch of U-based BIGTIME perpetual contracts. At the same time, the exchange avoided launching spot trading of BIGTIME, in an action similar to how they treated the Blur Token, the native governance token of Blur. Available to the public According to CoinMarketCap, Big Time is a multiplayer action RPG that combines combat with an open gaming economy that simultaneously leverages very visible Web3 elements.  As part of the announcement to launch a perpetual contract with up to 20x leverage, Binance states that depending on market risk factors, it will…

Mastercard announces successful wrapped CBDC trial results

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Mastercard has completed a trial involving wrapping central bank digital currencies (CBDCs) on different blockchains, similar to wrapped Bitcoin (wBTC) and wrapped Ether (wETH). According to the October 12 announcement, the trial was conducted with the Reserve Bank of Australia (RBA) and the country’s Digital Finance Cooperative Research Centre CBDC, along with participation from Cuscal and Mintable. In a live environment, Mastercard said the solution allowed a CBDC owner to purchase a nonfungible token (NFT) listed on Ethereum. “The process “locked” the required amount of a pilot CBDC on the…

Stocks across Asia and Europe rise on Economic growth indicators

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Stock markets in the Asia-Pacific region and Europe saw gains on Thursday. This uptick was attributed to the United Kingdom’s economic recovery, China’s recent stimulus measures and expectations surrounding the United States Consumer Price Index. The Hang Seng Index in Hong Kong led a positive movement in the Asian markets. The Oct. 12 rise came after reports that China’s sovereign wealth fund increased its investment in some of the country’s major banks. In Europe, the stock market rally was bolstered by data from the United Kingdom, with reports showing economic…

XRP Price Could Get A Boost, Dip In Bitcoin Metric Suggests Rally

The XRP price continues to trade sideways on low timeframes as the crypto market faces a spike in selling pressure. While major cryptocurrencies will likely bleed into critical support, one analyst believes there is hope for the XRP Ledger native token. As of this writing, the XRP price trades below the critical psychological level of around $0.5 and stands at $0.47 with a 2% loss in the last 24 hours. Over the previous week, XRP was one of the worst performers, recording a 9% loss. XRP’s price trends to the…

Indonesia to conduct blockchain trials for public services

Following the launch of its government-backed crypto exchange, the Southeast Asian country of Indonesia is becoming a budding crypto hub that aims to be one of the leaders in Web3 technology, according to Indonesian blockchain and metaverse executives. At the recent Blockchain Economy Summit in Dubai, Cointelegraph spoke with Grace Sabandar, co-founder of the Indonesia Blockchain and Metaverse Center (IBMC), and Tuhu Nugraha, the principal of the Indonesia Applied Digital Economy and Regulatory Network (IADERN). The executives spoke on the state of digital assets, blockchain and metaverse adoption in Indonesia.…

9 out of 10 Leading Exchanges Report September’s Slump

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Despite historically low returns in September, Bitcoin (BTC) ended the past month exceptionally well. Unfortunately, the same cannot be said for major centralized cryptocurrency exchanges whose spot trading volumes have declined for another consecutive month. According to data gathered by Finance Magnates Intelligence, the total turnover for the TOP 10 exchanges shrank by nearly $90 billion, or 25%. The decline was even more severe on a yearly scale, amounting to 68%. So far, it was the worst month in terms of volumes since the beginning of 2023. The total volume…

Caroline Ellison Starts Day 3 of Testimony Against Former FTX Crypto Titan

“Bankman-Fried relied on Ellison and he trusted her to act as the CEO and manage the day-to-day,” Cohen said in his opening statement last week. “… As the majority owner of Alameda, he spoke to Ms. Ellison, the CEO, and he urged her to put on a hedge, something that would protect against such a downturn. She didn’t do so at the time, and this also becomes an issue later on, when the storm hit.” Source

Bitcoin price dips amid Israel-Hamas war: analysis and forecast

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As tensions rise between Israel and Hamas, Bitcoin’s value slides. Explore the global dynamics at play and the potential future trajectory for the cryptocurrency. Bitcoin (BTC), as of Oct. 12, has slid to $26.5k levels, a dip from its recent support at $27k levels. Over the last 24 hours, BTC has experienced a decline of about 2%, and this drop becomes even more pronounced when compared to its weekly high of $27,800, marking a 3.5% decrease.  One major influence behind this downtrend appears to be the rising tension between Israel…

Strong Summer Helps Boost Delta Airlines Profits by 60% in Q3 2023

Delta AirLines see strong demand for international travel during the fourth quarter of 2023. However, rising fuel costs can eat into the company’s profits. In their latest update, Delta Air Lines (NYSE: DAL) reported that their profits jumped by a staggering 60% during the third quarter (Q3 2023) as the travel demand remained strong during the summer. This was particularly true for international trips, said the airline operator. However, Delta Air Lines noted that the full-year earnings will remain at the lower end of the earlier estimates amid the surge…