Day: October 14, 2023

FTX Estate Stakes $122 Million Solana (SOL), Quells Fear Of Token Sell-Off

boss

The FTX estate has reportedly staked 5.5 million Solana (SOL), worth $122 million. This development comes amidst fears of the defunct crypto exchange liquidating a substantial portion of its SOL holdings and inducing a bearish trend. FTX Renews Bullish Interest In Solana With Latest Move On October 14, blockchain tracking platform Whale Alert reported that 5.5 million SOL had been transferred between two unknown wallets. Thereafter, a crypto analyst with the X username ashpool soon identified the FTX exchange to be behind this whale transaction. Using data from gelato.sh, ashpool…

California Governor Gavin Newsom signs cryptocurrency bill

Governor Gavin Newsom of California has signed a bill that will regulate the state’s crypto sector and require digital asset companies to get licenses. According to Bloomberg Law, Newsom has enacted two significant crypto-related legislative measures. Today California is taking the necessary step to regulate a market that is volatile, risky, and, in some cases, deliberately rigged against everyday consumers. Thank you to Governor Newsom for helping ensure that our state leads in fostering responsible innovation. #AB39 #SB401 pic.twitter.com/QnPTdNALWS — Tim Grayson (@AsmGrayson) October 14, 2023 The new laws aim…

Ferrari to accept Bitcoin, Ether as payment for luxury cars

boss

Italian luxury car manufacturer Ferrari has decided to include cryptocurrency as a payment option in response to demands from dealers and the market. The Maranello, Italy-based company will start accepting purchases of its luxury cars using crypto in the U.S., with plans to expand the new payment option in Europe in the first quarter (Q1) 2024, Reuters reported.  The company’s chief marketing and commercial officer, Enrico Galliera told the publication that many of Ferrari’s clients are crypto investors, and including crypto as an option will enable the company to connect…

Ethereum losing streak vs. Bitcoin hits 15 months — Can ETH price reverse course?

The price of Ethereum’s native token, Ether (ETH), is trading around a 15-month low versus Bitcoin (BTC), and the lowest since Ethereum switched to proof-of-stake (PoS). Will it continue to weaken for the remainder of 2023? Let’s take a closer look at the charts.  Ethereum price breaks below critical support vs. Bitcoin The ETH/BTC pair dropped to as low as 0.056 BTC earlier this week. In doing so, the pair broke below its 200-week exponential moving average (200-week EMA; the blue wave) near 0.058 BTC, raising downside risks further into 2023.…

Chinese court requires proof of Tether as legal fiat affirms ban on crypto lending

According to an Oct. 10 press release by the Nanchang People’s Court, the plaintiff was required to prove that Tether is a legally issued fiat currency to bring a necessary cause of action for judicial relief. The decision from the court becomes the second in China to decide that crypto lending is an activity outside the protection of the country’s legal system. Filing a lawsuit The press release states that Xiao Ming, an alias, alleged that in April 2021, Xiaogang, another alias, borrowed money from Ming, citing intentions to speculate…

Bloomberg Analyst Predicts Likelihood Of A Spot Bitcoin ETF By January 2024

boss

Following notable changes to the ARK 21Shares Spot Bitcoin ETF application, Bloomberg ETF analysts James Seyffart and Eric Balchunas have predicted that the US Securities and Exchange Commission (SEC) could approve a fund as early as next year.   90% Chance Of Approval In a post shared on his X (formerly Twitter) platform, Seyffart highlighted his team’s prediction of the 90% chance that a Spot Bitcoin ETF will be approved by Ark Invest’s January 10 deadline. January 10 is the day the SEC is expected to make a final decision (approval…

Announcements in the web3 era: How your start-up can get real attention

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. It may be a crypto winter, but web3 projects are still churning out important announcements — from funding to partnerships to acquisitions. But the clamor for attention during pivotal announcements escalates, and the spotlight both online and from the media doesn’t swivel your way by chance. It demands a meticulously crafted public relations strategy — one that not only bellows your message across the digital vastness and…

Tencent launches credit solution for digital yuan

WeChat operator, Tencent, announced the launch of a new digital yuan smart contract enterprise credit solution platform. The new platform aims to bring a more convenient and efficient financing service for small and medium-sized enterprises. The project will use the digital yuan as the payment tool for companies that utilize the new platform. The new solution will imply the Tencent Blockchain platform technology, a scalable blockchain infrastructure that supports various applications and scenarios. The new initiative will combine elements such as the smart contract engine, the digital yuan wallet, and…

Ferrari to accept crypto payments in the US

boss

Ferrari will accept cryptocurrency payments for its luxury sports cars in the United States due to customer demand. The carmaker also plans to accept crypto payments in Europe. According to an Oct. 14 report from Reuters, Ferrari’s chief marketing and commercial officer, Enrico Galliera, confirmed the intentions of the luxury car brand. Ferrari’s choice to accept cryptocurrency payments was driven by market demand and dealer requests, with numerous clients, including crypto-savvy young investors, having invested in digital currencies. Although Galliera didn’t specify the number of cars Ferrari expects to sell…