Month: October 2023

Tesla (TSLA) Stock Down 5% amid Panasonic Cutting Battery Production

As a result of all the challenges faced by Tesla, its long-time partner Panasonic is also bearing losses. It has lowered its full-year operating profit forecast for its battery unit to ¥115 billion ($771 million) from ¥135 billion, as the demand for Tesla EVs in North America slowed down. Shares of Tesla Inc (NASDAQ: TSLA) have dropped by 4.79% on Monday following the news about its major battery supplier Panasonic Holdings Corp (TSE: 6752.T) slashing its domestic electric battery production by as much as 60%. The Japanese electronics giant explained the…

Is Сrypto Winter Really Over?

After Bitcoin price closed above $32k last week, the macro bullish outlook was confirmed amid heightened institutional demand. The transition of the crypto winter to the spring season and a parabolic bull run are expected to take place in the coming months. As the trial for Sam Bankman-Fried (SBF), the former FTX boss, approaches the end, market experts believe a new era is brewing in the crypto industry amid heightened demand for digital assets by institutional investors. Moreover, the spot Bitcoin exchange-traded funds (ETF) frenzy has created a bullish narrative,…

Bitcoin trading volume reaches maximum in six months

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Crypto data analysis platform Kaiko has released a report identifying the reason for the latest Bitcoin (BTC) rally. According to analysts, Bitcoin’s rise to $35,000 is due to four different factors, including volume, implied volatility, market depth, and funding rates. Source: Kaiko Experts also note that a fundamental shift in the market structure is observed for the first time in the last six months. The analytics platform reported that while trading volume slowed and volatility dropped over the summer, that changed in the previous two weeks when a rumor surfaced…

Sam Bankman-Fried Blames Ex-Girlfriend Caroline Ellison for Downfall of FTX

According to SBF, Ellison’s failure to hedge Alameda’s financial positions was a major contributing factor in the FTX’s financial troubles. In a dramatic turn of events at the ongoing criminal trial of FTX founder Sam Bankman-Fried, the renowned crypto entrepreneur pointed fingers at his former close associates, especially Caroline Ellison, his ex-girlfriend and former CEO of Alameda Research, for the downfall of his crypto empire. During his recent testimony on Monday, Bankman-Fried retook the stand where he and his defense team, led by Mark Cohen, talked about hedging, explicitly focusing…

Quality BTC Mining Stocks Offer a Good Way to Gain Exposure to the Next Crypto Bull Run: Bernstein

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Kenya to introduce digital IDs for citizens by year-end

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The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months. According to the president of Kenya, William Ruto, whose speech at the East Africa Device Assembly Kenya plant in Athi River was cited by local media on Oct.30: “The digital ID, which has been a major problem to us for a very long time, is now on testing mode for the next two months. I have been assured by all the stakeholders and the ministries…

Blockchain in charity, explained

Challenges and considerations while using cryptocurrencies in humanitarian aid Even if cryptocurrencies have the potential to revolutionize humanitarian aid efforts, it is imperative to address issues concerning volatility, inclusivity, cybersecurity, legal compliance and ethical considerations.  The application of cryptocurrencies to humanitarian relief offers advantages and disadvantages. The value fluctuation of cryptocurrencies is one major obstacle. The ability of aid organizations to make effective plans and resource allocations might be impacted by price fluctuations. Careful financial techniques, such as instantaneous conversion to local currencies, are required to prevent losses resulting from…

Bitcoin Price Could Skyrocket Like In March If This Happens

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In a recent post on X (formerly Twitter), Ram Ahluwalia, the CEO of Lumida Wealth, weighed in on the potential market impacts on Bitcoin, particularly highlighting the significance of a failed Treasury auction. Lumida Wealth, recognized as an SEC registered investment advisor, is known for its specialization in alternative investments and digital assets. Ahluwalia’s tweet emphasized the need to monitor Bitcoin’s response to specific macroeconomic events. He stated, “The test for Bitcoin as a macro asset will be ‘What happens if there is a failed Treasury auction?’ This year, Bitcoin…

What You Should Know about Celestia Mainnet Launch and TIA Token Listings on Major Exchanges

In readiness for the event, there has been a major increase in the price of TIA, as it was already trading on a decentralized derivatives exchange, Helix, at around $3.15. Celestia, a modular blockchain network focused on data availability, is preparing to launch its mainnet today, October 31, at 14:00 UTC. This long-anticipated event will also see the project’s native token, TIA, listed on major exchanges soon after. Trading Activity Picks Up Ahead of Today’s Celestia Mainnet Launch In readiness for the event, there has been a major increase in…