Day: October 20, 2023

Google, Amazon, Binance Labs, And A Chat With Sunny Aggarwal

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In the next three days, our team at NewsBTC will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, scalability, and global adoption by simplifying users’ access to crypto. MultiversX’s native token EGLD trends to the upside on the 1-hour chart. Source: EGLDUSDT on Tradingview Summarizing The MultiversX Event, Day 2 In the early hours, the CEO and Co-Founder of MultiversX, Beniamin Mincu, announced a partnership with big tech giant Google…

FinCEN issues alert regarding crypto transactions connected to Hamas

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The United States Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify “suspicious activity” related to funding terrorist groups. In an Oct. 20 notice, FinCEN said the terrorist organization Hamas — behind the Oct. 7 attack on Israel — employed “fundraising campaigns involving virtual currency and fictitious charities raising both fiat and virtual currency” to fund its activities. The government department warned virtual asset service providers and other institutions to “identify and report suspicious transactions” potentially connected to Hamas.…

Busy week for Uniswap, and Platypus recovers 90% of hacked funds: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was dominated by developments in the popular decentralized exchange platform Uniswap after it announced a 0.15% swap fee starting on Oct. 17, and an open-source hook on Uniswap generated controversy due to Know Your Customer (KYC) checks. In other major DeFi developments, Platypus Finance managed to recover 90% of the funds it lost to an Oct. 12…

Coinbase’s Grewal expresses optimism about approval of Bitcoin ETFs

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Coinbase Chief Legal Officer Paul Grewal discusses the prospective approval of Bitcoin spot ETFs by the U.S. SEC and its potential impact on the cryptocurrency landscape. In an Oct. 19 interview with CNBC, Paul Grewal, the chief legal officer of crypto exchange Coinbase, expressed a sanguine outlook on the potential approval of Bitcoin spot exchange-traded fund (ETF) applications by the U.S. Securities and Exchange Commission (SEC). Grewal’s optimism isn’t without foundation; he believes that under the current legal framework, the green light for these ETFs is merited. Paul Grewal, chief…

Bitcoin Knocks At The Door Of $30,000, But Can Break Happen?

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Bitcoin has approached the $30,000 mark with a sharp rally today, but on-chain data suggests the level could provide some major resistance. 1.49 Million Addresses Bought Around The $30,000 Level According to data from the market intelligence platform IntoTheBlock, the most significant potential resistance for BTC is at the current levels. The “resistance” here refers to not the technical resistance, but rather the on-chain one. From the on-chain perspective, levels are defined as resistance/support on the basis of the concentration of investors/addresses who bought at said levels. The below chart…

How to improve your Web2 business with blockchain

The private sector is only scratching the surface of blockchain technology’s transformative potential. Traditional businesses need to start adapting to Web3 or risk getting left behind. The new internet has arrived Web3 isn’t just a buzzword — it’s a radical new paradigm where everyday people can not only experience and contribute to the digital world, but also directly and securely own part of it. Beyond Web3 native startups, this technology offers a range of benefits to Web2 companies that can help ensure their continued relevance. While many major Web2 corporations…

Atomic Wallet Freezes $2,000,000 on Crypto Exchanges After Hackers Steal $100,000,000 in June

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Atomic Wallet says it has frozen $2 million worth of crypto on centralized exchanges after hackers plundered more than $100 million from the company’s users in June. The non-custodial decentralized wallet company has faced pushback online in the months following the hack for remaining vague on the details of the attack, which various crypto researchers have attributed to the Lazarus Group, a North Korean hacker collective. Elliptic, a blockchain analytics and compliance firm, has independently tracked the compromised crypto wallets and estimates that more than $100 million worth of crypto was stolen.…

Ripple Is on a Winning Streak (but the Game Isn’t Yet Won)

For a while, it seemed like Ripple may not even survive. The firm was flush enough (thank you programmatic sales, bay-bee), but no one knew what would result from what is still, arguably, the most significant regulatory action taken against a crypto company to date. Firms like Telegram and EOS were sued, they settled and were given “slaps on the wrist” (relative to amount of money involved). Source

An in-depth look at the Ethereum market in 2023

Dive deep into Ethereum’s 2023 market journey, focusing on its NFT dynamics, pivotal metrics, and the emerging world of spot ETFs. In 2022, the crypto world witnessed an unexpected downturn, with Ethereum (ETH) facing a sharp 68% decline in value.  Although 2023 brought a glimmer of hope, with ETH clawing back nearly 35% of its losses amidst a market-wide resurgence, its price of $1,620 as of Oct. 20 still pales in comparison to its once lofty highs.  Ethereum has also grappled with a series of challenges recently, dampening its once…