Day: October 13, 2023

Sam Bankman-Fried’s legal team moves to pursue theory on FTX terms of service

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Lawyers representing former FTX CEO Sam “SBF” Bankman-Fried are seeking to bring up certain information from the crypto exchange’s terms of service during witness testimonies. In an Oct. 12 filing in United States District Court for the Southern District of New York, SBF’s legal team said the motion was aimed at addressing “address certain evidentiary issues” in the ongoing criminal trial. The issue at stake involves competing theories by prosecutors and the defense team over the alleged misuse of FTX funds. According to Bankman-Fried’s lawyers, prosecutors intended to call witnesses and…

Have Traders Moved Past Dogecoin? Transactions Plunge 98% Since June

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Data shows that Dogecoin transactions have dropped more than 98% since June, a sign that investors have lost interest in the meme coin. Dogecoin 7-Day Transaction Count Has Dropped To Just 37,300 According to data from the market intelligence platform IntoTheBlock, activity on the DOGE network has really slowed down recently. The metric of interest here is the total number of transactions that the Dogecoin blockchain is observing every day. When this indicator has a high value, it means that the investors are making a large amount of moves on…

U.S. House Speaker Drama Could Threaten to Unravel Crypto’s 2023 Chances

Since Scalise is staying in his current job, Rep. Tom Emmer (R-Minn.), one of crypto’s biggest fans in Congress, won’t get greater power by stepping into that majority leader role. This keeps him – at least for now – as majority whip, the No. 3 role in the House leadership, unless the search for a speaker eventually seeks him out. Source chancesCryptosDramaHouseSpeakerThreatenU.SUnravel CryptoX Portal

Failed Bullish Pattern Could Send Ethereum Sub-$1000

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Ethereum price is trading at roughly $1,550 after failing to get back above $2,000 throughout the entirety of 2023 thus far. Increasingly higher lows during the year and a horizontal resistance zone had formed an ascending triangle – a potentially bullish chart pattern. This pattern, however, is possibly failing. A busted pattern target could send the price per ETH sub-$1,000. Is the bullish chart pattern breaking down? | ETHUSD on TradingView.com Ethereum Ascending Triangle Begins Breakdown: Target $700 Ethereum put in its bear market low back in June of 2022…

Bitcoin ATM lawsuit resolved in McLennan County

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McLennan County authorities have resolved a lawsuit with Lux Vending’s Bitcoin Depot over the incorrect seizure of $15,000 from a Bitcoin ATM following an elderly woman’s scam incident. In a recent legal episode from McLennan County, authorities have reached a resolution with Lux Vending, trading as Bitcoin Depot, in a case surrounding the wrongful seizure of $15,000 from a Bitcoin ATM. The situation began when an 82-year-old woman from Crawford fell victim to a ransomware scam initiated by a malicious email link. Under the scam’s influence, she withdrew $15,000 in…

Bitcoin analyst claims new all-time high is coming

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Crypto markets have faced a turbulent last year, with major cryptocurrencies like Bitcoin and Ethereum dropping significantly from their all-time highs. However, according to YouTube crypto analyst Jason Pizzino, there are signs the markets may be bottoming out and are positioning for a potential recovery in 2023-2024. In his latest video analysis published on Oct. 13th, Pizzino points to the S&P 500 stock market index as a precursor to trends in crypto markets. He notes the S&P 500 has formed higher lows in August and October of this year, suggesting…

CertiK, Blockchain Code Auditor, Makes ‘Strategic Workforce Adjustment’ of 15%

“In response to evolving market dynamics, CertiK undertook a strategic workforce adjustment today, impacting fewer than 15% of our colleagues,” according to an emailed statement from co-founder and CEO Ronghui Gu. “Our primary aim is to recalibrate our team structure to better align with our long-term strategic aspirations. CertiK remains committed to our mission and is confident that these changes are essential steps towards achieving our goals.” Source link

What is blockchain network congestion?

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Blockchain network congestion, explained Blockchain network congestion refers to a situation where the number of transactions exceeds the network’s capacity, resulting in processing delays. When there are more pending transactions than the network can handle, blockchain networks get congested. Limited block sizes and the length of time required to construct a new block are the causes of this issue.  Transactions are delayed, and users notice slower processing times when the volume of transactions exceeds the network’s capacity to confirm them quickly. The release of BRC-20 tokens on the Bitcoin blockchain…