Prosecutors are hoping the four-week case will lead to a conviction on seven charges. Source
'A Pyramid of Deceit': Prosecutors Begin Closing Argument in Sam Bankman-Fried Fraud Trial
Day: November 1, 2023
Flare Integrates Elliptic’s Crypto Risk Management Solutions to Fortify DApps against Financial Crimes
The partnership will allow Flare dApp developers to benefit from Elliptic’s real-time transaction screening and crypto wallet checks. Flare, a layer 1 EVM blockchain that provides developers with decentralized permission into data from various chains, and the internet, has announced that they are partnering with Elliptic, a global leader in crypto risk management. The collaboration aims to integrate Elliptic’s robust risk management rules into the Flare network to enhance the security and compliance of decentralized applications. The partnership will allow Flare dApp developers to benefit from Elliptic’s real-time transaction screening…
‘That’s fraud,’ prosecutors say in closing arguments at Sam Bankman-Fried trial
Sam “SBF” Bankman-Fried’s trial has entered the final stages, with the prosecution delivering its closing arguments in the case on Nov. 1. Closing arguments are the last opportunity for lawyers to convince the jury and judge that they should win the case. Prosecutors had previously estimated that their closing arguments would take up to four hours. Right afterward, Bankman-Fried’s defense will also present its closing arguments. “That’s fraud. It’s stealing, plain and simple. Before FTX, there was Alameda,” Assistant United States Attorney Nicolas Roos reportedly told jurors, presenting one of the…
Bitcoin Price (BTC) to Take Cue From Fed Policy Statement and Press Conference
Bitcoin’s strong October breakout from the $27,000 area has been stalled in the $34,000-$35,000 area for the past week, perhaps awaiting fresh fuel. While any dovish signal from the Fed could provide a push out of that range, few are expecting it. “We still see another U.S. rate increase as unlikely in the current cycle,” Matthew Ryan, head of market strategy at Ebury, told CNBC. “As a compromise, we think that the Fed will stress that rate cuts are not on the cards anytime soon, with easing to begin no…
Bitcoin Whales Ramp Up Selling, BTC To Decline Below $32,000?
On-chain data shows the Bitcoin whales have potentially ramped up their selling recently, something that could lead to a drawdown for the asset. Bitcoin Exchange Whale Ratio Has Spiked Recently As explained by an analyst in a CryptoQuant Quicktake post, the price of Bitcoin could correct towards the $31,000 to $32,000 range from the current whale selling pressure. The relevant indicator here is the “exchange whale ratio,” which measures the ratio between the sum of the top 10 transfers to exchanges and the total exchange inflow. The 10 largest transactions…
Near Token Rallies Amid Nym Partnership, Ahead of Nearcon Conference
The Near Foundation announced a partnership with Nym Technologies, a privacy layer-0 infrastructure startup. Source
Bitcoin crash pre-halving? Stablecoin metric that marked 2019 top flashes warning
Bitcoin (BTC) is at 17-month highs with just 164 days until the next Bitcoin halving event, alongside anticipation of a spot Bitcoin exchange-traded fund (ETF) approval in the coming months. Yet, amid Bitcoin’s 106.38% year-to-date gains, the stablecoin supply rate oscillator (SSRO) has raised a major flag despite suggesting the beginning of a new bull cycle. Stablecoin buying power weakens ahead of Bitcoin ETF This stablecoin supply ratio metric, which acts as an important measure of the dominance of stablecoins vs. Bitcoin, has surged to a new all-time high at 4.13 on Oct. 25, according…
UK AI Safety Summit begins with global leaders in attendance, remarks from China and Musk
The United Kingdom’s global summit on artificial intelligence (AI) safety, “AI Safety Summit” began on Nov. 1 and will carry on through Nov. 2 with government officials and leading AI companies from the world in attendance, including from the United States and China. U.K. Prime Minister Rishi Sunak is hosting the event, which is taking place nearly 55 miles north of London in Bletchley Park. It comes at the end of a year of rapid advancements in the widespread use and accessibility of AI models following the emergence of OpenAI’s…
Crypto Analyst Says Price Will Jump To $0.9
XRP price predictions continue to make the rounds, and one of the latest price predictions happens to be that of prominent crypto analyst CrediBULL Crypto, who recently gave a comprehensive analysis of the token’s future trajectory. How XRP Price Could Rise To $0.9 In a post shared on his X (formerly Twitter) platform, the crypto analyst highlighted that while analyzing the XRP/USD chart, the fact that XRP is currently enjoying an upward trend, but that could soon come to an end as it faces a resistance level at around the…
Celestia’s TIA Token Airdrop Germinated From CEO Mustafa Al-Bassam’s Research Paper ‘LazyLedger’
Not meant for a lazy reader, the paper went on to describe, in excruciatingly complex terms and Greek mathematical characters, what was then a radical rethinking of how blockchains could work: separating out the various functions of a distributed ledger – especially the way users query the network for data – into distinct “application layers.” A key benefit would be to minimize the total resources needed to run the main blockchain. Source