Day: October 26, 2023

DoJ asked to mull criminal charges against Binance and Tether

Two U.S. elected officials wrote to the Department of Justice, calling for a concluded investigation on Binance and Tether that could lead to litigation against the pair of crypto heavyweights. Senator Cynthia Lummis, who sits on the Senate Banking Committee, cited an Oct. 10 Wall Street Journal (WSJ) report claiming that Hamas and its affiliate raised millions through cryptocurrencies.  The article in question and subsequent reports of the same ilk have since been refuted by blockchain data companies like Elliptic, per crypto.news. Lummis’ letter noted the likelihood of inaccuracies in…

CryptoPunk holders offered physical versions of their NFTs for 48 hours

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Holders of CryptoPunk non-fungible tokens (NFTs) are being offered the chance to obtain physical prints of their digital art items, according to an October 26 announcement. The items are being offered as part of a partnership between online art store Avante Art and CryptoPunks brand owner Yuga Labs. The sale will last for only 48 hours. It began on October 26 at 3:00 p.m. UTC and will end on October 28 at 3:00 p.m. UTC. Our print collaboration with @avant_arte is officially live – for 48 hours only. Punk On-Chain…

Bitcoin Upcoming Leap? Analyst Predicts A Potential $45,500 Rise By November

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Bitcoin (BTC), the pioneering digital currency that has recently seen a notable surge recording 51% in global crypto market capitalization dominance, has now received a fresh analysis from CryptoCon, a seasoned crypto technical analyst hinting at a potential surge in the asset’s price. This projection, shared in a recent post on X (formerly known as Twitter), has caught the attention of many, given its bullish outlook amid the present market landscape. Bitcoin Enters Mid-Cycle Phase Four Based on CryptoCon’s research, Bitcoin has embarked on its fourth mid-cycle phase. It is…

Horizen Launches EON for Web 3.0 Developers on Mainnet

As an emerging solution, Horizen has highlighted that EON is open to partnerships and integration but only with firms and protocols that resonate with its core values. Fast-growing Layer-0 public blockchain Horizen has hit a major milestone with the mainnet launch of Horizen Ethereum Open Network (EON). Notably, Horizen EON is a smart contracting sidechain platform fully compatible with Ethereum Virtual Machine (EVM). It is designed to play a crucial role in the revolution of We b3.0 and to empower the next generation of developers.   The new solution is designed…

Justin Sun predicts the harshest of crypto winter has passed

The Justin Sun Group, including TRON, HTX, Poloniex and TUSD, reported a 14% increase in revenue from the previous quarter. Sun suggests that the ability to sustain revenue growth in these adverse conditions presents a more promising fourth quarter as the market displays signs of recovery. Better conditions to come In a post on X dated Oct. 26, Sun shares that following the third quarter of 2023, actual revenue was $202 million, with profits being estimated at $98 million. Based on these numbers, the Group’s estimate for revenue in the…

Bitcoin Price (BTC) Primed as Supply on Crypto Exchanges Is at Lowest Since 2018

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Weller said that spot ETFs, unlike futures-based products, could “fundamentally alter the supply and demand picture” for bitcoin, making it available for a new set of investors. That’s especially so now that bitcoin has regained its “uncorrelated asset” lure by decoupling from equities and rallying as U.S. stocks have entered correction territory, he added. Original

Matrixport Forecasts $125,000 Price Target By December 2024

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Bitcoin price (BTC) is currently displaying a significant uptrend, showing no signs of slowing down. The cryptocurrency has already begun its fifth bull run, with impressive price targets anticipated in the coming year.  A recent report from Matrixport highlights BTC’s history of four distinct bull market cycles, each driven by a unique narrative. However, the latest bull market, which started on June 22, 2023, stands out due to its primary driving force: institutional adoption.  Per the report, this surge in institutional interest can be attributed to Bitcoin’s characteristics, traditionally associated…

Crypto reshapes the American dream for younger generations: Report

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A new Coinbase report on the state of crypto has revealed the disillusionment of younger generations (Gen Z and Millennials) with the traditional American dream and the financial system. It shows young Americans are more open than older generations to unconventional paths to financial independence, such as crypto, than older generations. According to the report, young people find the American dream less achievable, partly due to high housing costs, inflation and an outdated financial system. Instead of following conventional paths, they are actively building new models of work, ownership and…

Crypto Exchange Associated With Binance Seeking License in Hong Kong: Report

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A digital asset exchange platform with ties to crypto titan Binance has reportedly announced its intention to apply for a license in one of Asia’s leading finance hubs. According to the South China Morning Post, HKVAEX was created as a separate entity under the company BX Services Limited, but Binance is behind it. HKVAEX was established in December and launched its trading platform in February. Citing sources familiar with the matter, the report says the world’s largest crypto exchange created HKVAEX to pursue a crypto license in Hong Kong. The…