Day: October 30, 2023

Crypto Winter Is Over

Fink, of course, used to be an avowed crypto skeptic, someone who was more interested in Bitcoin’s environmental footprint than its potential as a safe-haven asset. Now this bellwether Wall Street figure is trumpeting Bitcoin live on national TV. And actually crypto winter may have ended before last week, if we’d paid more attention. Warmer times were already on the way back in January, according to Noelle Acheson, the former head of research at CoinDesk and Genesis Trading, who now writes the “Crypto Is Macro Now” newsletter. Source

XRP Price About To See “Face Ripping” Rally, Legendary Trader Weights In

The XRP price continues to enjoy positive performance as the crypto market trends to the upside. The current rally confluences with the sector’s historical performance; thus, cryptocurrencies could extend their bullish trend. As of this writing, the XRP price trades at $0.58 with a 5% profit in the last 24 hours. In the previous seven days, the cryptocurrency recorded an 11% rally and stood as one of the best performers in the sector over the same period, along with Solana (SOL) and Cardano (ADA). XRP’s price trends to the upside…

What Will Wall Street’s Bitcoin Narrative Be?

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Dave Birnbaum is the product director at Coinbits, a Bitcoin investment platform, and a prolific inventor, with patents in fintech, VR, communications and more. David Waugh is a business development and communications specialist at Coinbits. He previously served as managing editor at the American Institute For Economic Research. Original

AVAX blockchain explorer to shut down as Etherscan fees draw controversy

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Snowtrace.io, a popular blockchain explorer tool for Avalanche (AVAX), will shut down its website, powered by Etherscan’s Explorer-as-a-Service (EaaS) toolkit, on November 30. The Snowtrace team clarified that only its explorer powered by Etherscan will be shut down. According to the October 30 announcement, Snowtrace users are required to save their backup information, such as private name tags and contact verification details, before the said date. While the team did not explicitly state the reason for shutting down the explorer, some have pointed to Etherscan’s service fees for its EaaS…

Kasikorn Bank Acquires Majority Stake in Satang Crypto Exchange for $103 Million

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Thailand’s Kasikorn Bank, also known as K-Bank, has successfully secured a majority 97% stake in the parent company of Satang, a prominent crypto exchange operating in the country since 2017. The acquisition, valued at 3.705 billion Thai baht ($102.8 million), was executed through K-Bank’s newly established subsidiary, Unita Capital, specializing in investments in digital assets companies, media reports said. Upon the completion of the transaction, Satang is slated to undergo a rebranding as Orbix. This transformation will be accompanied by the establishment of three subsidiary entities: Orbix Custodian, Orbix Invest…

WSJ debacle fueled US lawmakers’ ill-informed crusade against crypto

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Following October’s tragic events in Israel, a narrative linking Hamas funding to cryptocurrencies emerged from The Wall Street Journal in an Oct. 10 story authored by the paper’s Angus Berwick and Ian Talley. It fueled Sen. Elizabeth Warren’s crusade against the crypto sector. Subsequent insights from Chainalysis and Elliptic cast serious doubt on the claims, demanding a more judicious examination of the accusations levied against the crypto industry. At the heart of this discourse is an underlying issue — the United States’ precarious position on crypto regulations. The narrative surrounding…

Animoca Brands to Receive $50M from Saudi Arabia’s NEOM to Build Web 3.0 Services with Commercial Application

NEOM is set to pump $50 million into Animoca Brands as Animoca supports the region’s Web 3.0 and tech goals as part of Saud’s 2030 vision. Hong Kong-based game developer and venture capital company Animoca Brands Corporation Ltd has announced a strategic partnership with Saudi Arabia’s NEOM Investment Fund. The two entities are collaborating to further the Saudi Vision 2030 plan, with Animoca Brands providing Web3 services and handling related initiatives. NEOM is a region in Saudi Arabia’s northwestern region. According to an official announcement, the NEOM Investment Fund is proposing…

XRP Predicted To Cross The $1 Mark In 16 Days XRP’s RSI

Crypto analyst Crypto Insight recently predicted that the price of XRP could be preparing to go past the $1 mark in just 16 days as the XRP’s Relative Strength Index (RSI) and open interest continue to gain momentum indicating a bullish trend. XRP Weekly Relative Strength Index  On Sunday, October 29, the crypto analyst shared his predictions on X (formerly Twitter) highlighting that XRP might be prepared for a significant upward trajectory due to the strength of the XRP’s weekly RSI, as it gains traction toward entering a bullish zone.…

‘Fuck regulators,’ said SBF behind closed doors: Report

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Despite publicly supporting drafting crypto regulation to protect customers, disgraced crypto exchange FTX founder Sam “SBF” Bankman-Fried appears to have shared a deep disdain for regulators. During SBF’s ongoing criminal trial, Assistant U.S. Prosecutor Danielle Sassoon inquired if the crypto executive could recall his previous Twitter statements regarding his support of blockchain regulation to protect customers. “I don’t remember,” SBF said. Sassoon asked, “But in private, you said, fuck regulators, right?” “I said that once,” SBF replied. Among other profanities, the former crypto executive also stated that he viewed a “subset…

Do Kwon’s Terraform Labs (UST) Seeks Early Court Rejection of U.S. SEC Case

“After two years of investigation, the completion of a discovery period that resulted in the taking of more than 20 depositions, and the exchange of over two million pages of documents and data, the SEC is evidentiarily no closer to proving that the defendants did anything wrong,” Terraform contended in its motion for summary judgment – a formal request to Judge Jed Rakoff of the U.S. District Court for the Southern District of New York that he decide the SEC hasn’t sufficiently demonstrated its case to justify a trial. Source