Day: October 26, 2023

Solana Labs launches Web3 incubator offering dev and fundraising support

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Solana Labs unveiled an all-new incubator program for project development on the Solana blockchain on Oct. 26.  Title simply “Solana Incubator,” the program will offer fundraising, development, networking, and marketing support for web and blockchain projects seeking to build on Solana’s platform. Building a web3 startup on the Solana network? ️ Today, @SolanaLabs introduces their Solana Incubator, so you can get hands on technical, go-to-market, and funding support! Learn more and apply https://t.co/W10WnEgDwQ — Solana (@solana) October 26, 2023 The Solana Incubator will accept applications through Nov. 30. Those accepted…

U.S. Senate’s Banking Chairman Says Panel to ‘Crack Down’ on Crypto’s Terrorism Ties

“On this committee, we have a unique role to play, working to understand the financing behind Hamas’s attacks, so we can work to cut off funding for terrorism at its source … and we will examine multiple terrorist funding streams, including cryptocurrency, and consider additional measures to stop the flow of those funds,” Brown, who has an outsized role in crypto policy-making, said in opening remarks at a hearing Thursday on illicit finance. Source

Prosecutors rest their case as Sam Bankman-Fried prepares to testify

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Attorneys representing the United States Justice Department rested their case against Sam “SBF” Bankman-Fried after more than three weeks of expert witnesses and testimonies from former FTX and Alameda employees.  According to reports from the courtroom on Oct. 26, the U.S. government’s last witness before resting was FBI Agent Mark Troiano, who primarily testified on SBF’s involvement in more than 300 groups with the messaging app Signal. Following Toiano’s testimony, Bankman-Fried’s lawyers motioned to dismiss, which was quickly denied by Judge Lewis Kaplan. SBF’s attorneys, Mark Cohen and Christian Everdell,…

Crypto Analyst Says Bitcoin Is At A High Premium, How To Trade It

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Bitcoin is facing resistance at its yearly high of the $35,000 mark amidst a few days of eventful price action. Right now, all things seem poised for a retracement, considering past price action of the cryptocurrency after sudden price surges.  However, according to some crypto analysts, Bitcoin is currently trading at a high premium. This means its price is inflated right now due to all the excitement and media attention. Data from crypto behavior analytics Santiment has shown euphoria regarding Bitcoin among investors on social media posts. This euphoria has…

FTX Moves $20M from Cold Wallets to Crypto Exchanges

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The group of debtors managing the cold storage wallets of the collapsed crypto exchange FTX has transferred more than $19 million worth of assorted tokens to various crypto exchange addresses. The on-chain analytics firm Peckshield, as quoted by Coindesk, revealed that approximately 470,000 SOL tokens, valued at $15 million based on current market prices, were transferred to different wallets on various crypto exchanges, including Binance. Besides that, an Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum…

Observations and Anticipation in the Crypto ETF Market

When the first U.S. bitcoin futures ETF was launched, it made a huge impact. The ProShares Bitcoin Strategy ETF (BITO) was launched on Oct. 18, 2021, and it was the second-highest traded ETF in existence. Turnover was over $1 billion on the first day, while all seven ether futures ETFs traded only $7 million on Oct. 7. But this was a different time. Bitcoin prices were at their peak at over $69,000, and Ethereum prices were similarly at their peak at over $4,800. Mainstream investors were a lot more excited…

Bitcoin traders earmark key BTC price levels as $34K struggles to hold

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BTC price is seeking retests of lower levels after Bitcoin bulls fail to push beyond recent 17-month highs. Bitcoin (BTC) fell below $34,000 after the Oct. 26 Wall Street open as consolidation at 17-month highs continued. BTC/USD 1-hour chart. Source: TradingView $33,000 becomes do-or-die BTC price level Data from Cointelegraph Markets Pro and TradingView showed BTC price behavior challenging intraday lows. The largest cryptocurrency had attempted to push higher still the day prior, but sell-side pressure ensured that $35,200 remained untouched as a ceiling. “We are going to have to…

JPMorgan foresees lawsuits for SEC on spot Bitcoin ETF rejections

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The SEC faces potential legal challenges over its handling of spot Bitcoin ETF applications, amidst rising institutional interest in cryptocurrencies, as highlighted by JPMorgan analysts. The burgeoning cryptocurrency market is once again at a crossroads with the U.S. Securities and Exchange Commission (SEC) facing potential legal challenges if it decides to decline applications for spot Bitcoin (BTC) exchange-traded fund (ETF) applications. JPMorgan analysts, led by Nikolaos Panigirtzoglou, have highlighted the situation, suggesting that the SEC may find itself embroiled in legal disputes, akin to the recent case with Grayscale Investments.…

Standard Chartered Shares Plunge 17% as China Bet Takes Hit

Despite the recent setbacks, Standard Chartered had been on an upward trajectory before the China-related issues came to the forefront. Shares of UK-based banking giant Standard Chartered Plc (LON: STAN) plummeted by as much as 17% during early trading, leading to a temporary halt in trade, and by 11:15 a.m. London time, the stock remained approximately 10% lower. At the time of writing, the stock is pegged at GBX 643.60. The turmoil in the markets reflected the concerns of investors, who had once pinned their hopes on the bank’s China…