Day: October 21, 2023

Interview With Bogdan-Gruia Ivan, Romanian Minister of Research, Innovation and Digitalization

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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. xDay 2023: “No Time To Waste In Driving Innovation” On the event’s third day, we sat down with Bogdan-Gruia Ivan, Romanian Minister of Research, Innovation and Digitalization. The Minister intends to support the crypto community and builders by attracting capital into the…

XRP Price Set To Surge Amid Heightened Whale Accumulation

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Things seem to be going well for XRP at the moment, and the cryptocurrency appears to be well positioned to make gains in the market. The price of XRP had an incredible rally yesterday as news broke of the US Securities and Exchange Commission withdrawing its case against Ripple Labs’ executives Brad Garlinghouse and Chris Larsen. In addition to this, on-chain data has shown investors accumulating XRP in anticipation of a continued bull run.  Smart Money Holders Accumulating Rapidly XRP jumped 10% in 24 hours in response to the SEC…

Head of Binance payment processor resigns

Saulius Galatiltis, CEO of a Binance crypto-to-fiat payment affiliate, has stepped down in an ongoing exodus of executives from the digital asset titan. Galatiltis served as Bifinity’s chief executive from January 2022 to October 2023, per his LinkedIn profile. The Lithuania-based payment processor allowed customers to convert their fiat currencies into crypto tokens on Binance’s exchange, focusing on European users.  This is the latest departure from Binance-related entities as of Oct. 19 following a lawsuit from the U.S. Securities and Exchange Commission (SEC) alleging securities fraud. The suit indicted Binance…

What’s in store for crypto and bitcoin with 10-year Treasury near 5%

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High interest rates have not been bitcoin’s friend in the past, and the benchmark 10-year U.S. Treasury yield recently reaching new generational highs comes at an especially inconvenient time for the cryptocurrency. Bitcoin’s price has held up in this year’s rising rate environment, but it’s also struggled to reach new highs, as investors seeking regulatory certainty in crypto remain on the sidelines. But it’s also primed to rip higher as crypto investors await the outcome of two key events – the approval of a bitcoin ETF and the Bitcoin halving…

Bitcoin Could Benefit From “Flight To Quality” Trend: Report

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In the last seven days, Bitcoin has gone up by 10.50%, following a series of significant gains across the week. Most notably, the largest crypto asset surged by 7% on Monday following the emergence of fake news on the approval of the BlackRock iShares Bitcoin Spot ETF. As expected, this price gain drew a plethora of reactions from various crypto enthusiasts and analysts. In particular, Larry Fink, the CEO of BlackRock, stated in an interview with Fox Business that the BTC surge was partially due to the fake news of…

ConsenSys employees sue Joseph Lubin as shares are now ‘worthless’

A group of two dozen ConsenSys AG’s early employees filed a lawsuit against crypto entrepreneur Joseph Lubin. Ethereum co-founder and boss of blockchain company ConsenSys, Joseph Lubin, is facing a class action lawsuit filed against him by a group of early employees claiming that he had “violated his legal commitments and duties.” In the complaint filed in a New York Supreme Court on Oct. 19, the first employees of ConsenSys AG (formerly ConsenSys Mesh) say that Lubin “broke his deal.” Namely, he transferred the most promising assets from the original…

Patricia exchange CEO announces debt restructuring via convertible notes

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Following the launch of Patricia token (PTK) issued to customers to manage users’ debt by Patricia, a Nigerian cryptocurrency exchange, the chief executive officer of the exchange (CEO), Fejiro Hanu, has confirmed that customers now have the option to convert their owed funds into Patricia shares. According to a statement from the CEO, this process forms an integral component of the firm’s strategy for fundraising and reorganizing its debts. In anticipation of the firm’s upcoming app relaunch and in preparation for its fundraising initiative, it is affording its users the…

XRP price gains 7.6% as SEC dismisses lawsuit against Ripple

Ripple’s price has significantly jumped, increasing by 7.6% to reach $0.517. This uptick in Ripple’s value comes from the U.S. Securities and Exchange Commission (SEC) deciding to abandon its claims against the blockchain company Ripple Labs earlier. XRP price | Source: CoinMarketCap The decision by the regulatory body has been perceived positively by the market, reflecting in the subsequent rise of Bitcoin (BTC) and altcoin prices. At press time, BTC was up 5% to $30,000, while Ethereum (ETH) grew 4.2% to $1,617. Ripple vs. SEC The SEC and Ripple have…

Stacks Rockets 25% Higher in a Single Week: The Factors at Play

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The price of Stacks (STX) experienced a sustained rebound, driven by a prevailing sentiment of positivity within the cryptocurrency sector. STX had a significant increase, reaching a peak of $0.680, which represents the highest value observed since July 14th. Stacks is a layer-1 blockchain solution aiming to enable smart contracts and decentralized applications on the Bitcoin network without altering its core features, like security and stability. It operates through the Stacks token (STX), which powers smart contract execution, transaction processing, and asset registration on the Stacks 2.0 blockchain. This enhances…

FTX clients face deceptive priority withdrawal scam

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FTX users are reportedly being targeted in a withdrawal scam. X (formerly Twitter) user and FTX creditor advocate Sunil cautioned FTX account holders about the phishing scam and urged them to avoid clicking on dubious links. Sunil’s X post highlights the ever-evolving tactics online scammers employ. FTX users have reported receiving deceptive emails purportedly sent by FTX Trading, West Realm Shires Services and FTX EU. The emails falsely offer FTX creditors an exclusive chance for immediate asset withdrawals, bypassing waiting periods and legal proceedings. One example of a fraudulent email states: “We…