Day: October 26, 2023

Forget 2023, Here Are The Major XRP Price Predictions For 2024

The official dismissal of the US Securities and Exchange Commission’s (SEC) claims against Ripple’s CEO Brad Garlinghouse and its co-founder Chris Larsen has reinvigorated predictions about the XRP price future trajectory. With the year coming to a close, some financial experts are already looking to 2024 and have made their expectations known as to the XRP price in 2024.   XRP Price Could Go Above $1 Some financial specialists have given their thoughts on XRP’s price and factors that could ultimately affect the token’s trajectory. One of these experts happens to…

Latest update — Former FTX CEO Sam Bankman-Fried trial [Day 13]

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Cointelegraph reporters are on the ground in New York for the trial of former FTX CEO Sam “SBF” Bankman-Fried. As the saga unfolds, check below for the latest updates. Oct. 26: Prosecutors rest their case Attendees of Sam Bankman-Fried’s trial on Oct. 26 had a disappointing morning as attorneys from both sides kept an endless cycle of repeated questions, sidebars and objections, prompting District Court Judge Kaplan to interrupt witness testimony and urge attorneys to move forward. Prosecutors rested their case early this morning after FBI Agent Mark Troiano briefly…

Bitcoin mining stocks are poised for a fall if the cryptocurrency hits this key level

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Now that bitcoin has pushed above its key resistance level of the year, the pressure is on for mining stocks, some of which could be in trouble if the cryptocurrency doesn’t reach $50,000 by the second quarter of 2024. Earlier this week bitcoin climbed as high as $35,000 at one point, after being stuck under $30,000 for several months. But the Bitcoin halving is expected in the spring and it will likely reduce companies’ revenue. That means the cryptocurrency may need to rally another 60% by then to lessen the…

Sam Bankman-Fried thought ‘taking FTX deposits through Alameda was legal’: Report

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Former FTX CEO Sam “SBF” Bankman-Fried addressed a New York courtroom under oath without the 12-member jury present. According to reports from the courtroom on Oct. 26, SBF’s highly anticipated testimony kicked off in a hearing with defense attorney Mark Cohen questioning the former FTX CEO on his use of the messaging app Signal and retention of communications data at the crypto exchange. Bankman-Fried reportedly claimed he acted in accordance with company policies on records, and none of the media set to “auto-delete” were “channels for decisions.” “Why did you…

Billionaire Ken Griffin’s Citadel Securities Denies ‘Ridiculous’ Claim That It Tanked Do Kwon’s Terra (LUNA)

The Terra network and Do Kwon rose to the highest tier of the crypto world thanks to big-shot investors, only to fall apart within a few days in May 2022. On May 7, the price of the then-$18-billion algorithmic stablecoin UST, which is supposed to maintain a $1 peg, started to wobble and fell to 35 cents on May 9. Its companion token, LUNA, which was meant to stabilize UST’s price, fell from $80 to a few cents by May 12. The collapse sent a shockwave throughout the crypto sector,…

FTX Ramps Up Restitution Efforts, Subpoenas AI Firm CAIS Over $6.5M Investment

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Bankrupt crypto exchange FTX, led by newly appointed CEO John Ray III, has embarked on an intensive legal campaign to regain control and recover assets in its pursuit of financial restitution.  As founder Sam Bankman-Fried awaits possible conviction and faces a staggering 114 years in prison if found guilty, FTX’s asset recovery plan continues under Ray’s leadership.  FTX Bankruptcy Battle Escalates In a recent filing with the US Bankruptcy Court for the District of Delaware, FTX issued a subpoena to the artificial intelligence (AI) firm Center for AI Safety (CAIS),…

Grayscale’s GBTC Discount Debated Ahead of Possible FTX Sale

Sean Farrell, head of crypto strategy at Fundstrat, echoes Johnsson’s thoughts. “The SEC’s approval of a spot ETF would undeniably aid in ensuring creditors are made whole. We’d witness a more pronounced narrowing of the discount to NAV in GBTC, and it’s probable that crypto asset prices would surge overall, given the positive catalyst.” Source

The Hamas Funding Story Is Why Crypto Is Sick of the Mainstream Media

Today, Brown, who heads the powerful Senate Banking Committee, called for additional action against financing of terrorism, including cryptocurrency, and it seems many members of Congress are now willing to believe that the mere existence of cryptocurrency is a boon to people who kill and maim. Last week, following the WSJ report, 102 lawmakers wrote to the U.S. Treasury Department, demanding information as to what is being done to prevent the use of crypto to finance terrorism. Source