Day: November 3, 2023

FTX advisers sharing customers’ data with FBI: Report

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Advisers for bankrupt crypto exchange FTX have been disclosing data from customers’ transactions and accounts with the Federal Bureau of Investigation (FBI), according to court documents seen by Bloomberg.  In response to subpoenas issued by several FBI field offices during the past few months, FTX consultants turned over to law enforcement records of specific customers’ trades on the bankrupt crypto exchange. The FBI’s requests were disclosed on billing records from Alvarez and Marsal, a consultancy serving as financial advisers for FTX. Over the past few months, the firm’s staff extracted…

Multichain inside job? And SOL surges 80% in a month: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A trader managed to exploit the brief opening of the Multichain cross-chain bridge, which was frozen since its exploit in July 2023, allowing the trader to turn $280,000 worth of Fantom’s (FTM) tokens into $1.9 million worth of different assets. In other news, Solana’s (SOL) token has surged 80% in a month, and Avalanche is set to shut down its Etherscan-powered blockchain…

Marathon Digital Holdings enhances Bitcoin mining operations

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Marathon Digital Holdings reported a production of 1,202 Bitcoins in October, selling 961 to cover costs, with a remaining holding of 13,396 unrestricted BTC as of month-end. Marathon Digital Holdings, Inc., a major player in the Bitcoin mining sector, has shared a snapshot of its performance and ongoing developments for October 2023. In the latest update, the company detailed a slight increase in its energized hash rate, signaling continued growth in its mining capabilities. Fred Thiel, Marathon’s Chairman and CEO, noted a 1% rise in the energized hash rate, now…

Sam Bankman-Fried Verdict: The Crypto Industry Reacts

“I also think that, in a way, this verdict is a win for the crypto industry itself. After all, it was the industry (including crypto journalists) that discovered and exposed SBF’s wrongdoing, and certain market participants that were themselves harmed by FTX and Alameda testified in the case against SBF. SBF being found guilty may be an important milestone or marker that enables the digital asset space and the broader market to move on from the events of 2022, because the bad actor is, in fact, being held accountable. Source

A Chat With SingulariyNET, Staking Announcement

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In the financial center of Dubai, the Cardano Summit 2023 will gather some of the most prominent projects in the crypto space. During the three-day event, speakers, founders, and the community will voice views on the growing sector and the future of the network and blockchain technology as Cardano enters a critical stage in its development. Our team had the opportunity to speak with the team behind SingularityNET, one of the first projects that has worked on integrating blockchain, machine learning, and Artificial Intelligence (AI) products. The community has been…

$113 Million In Longs Get Rekt As Bitcoin Plunges Back To $34,000

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Data shows the cryptocurrency longs have taken a beating today because of the plunge towards $34,000 that Bitcoin has observed. Cryptocurrency Futures Market Has Seen Liquidations Totaling $137 Million Today According to data from CoinGlass, a large amount of liquidations have taken place in the cryptocurrency futures market during the past day. “Liquidation” here refers to a forced closure of a futures contract being done by the derivative contract with which said position is open. A contract is liquidated when it amasses losses equal to a certain percentage of the…

English school turned BTC miner in China expands capacity with 220 new units

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China-based BTC Digital announced the purchase of 220 new Bitcoin (BTC) mining units on Nov. 3, bringing its total number of machines to 2,174, with over 230 petahashes per second (PH/s) of computing power. The new acquisitions are expected to become operational by the end of the month. The deal was made with “two unaffiliated third parties” for Bitmain Antminer S19j Pro units in exchange for 276,572 shares of ordinary company stock valued at $968,800, according to a statement. BTC Digital was known as Meten EdtechX Education Group until a…

Bitcoin’s pullback — warning sign or blip on the radar?

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A broad selloff has hit cryptocurrency markets over the past 24 hours, with the overall market capitalization falling nearly 3% to $1.27 trillion. The pullback comes after digital asset prices rallied strongly through October, with greed sentiment recently hitting two-year highs according to the Crypto Fear and Greed index. According to Alex Kuptsikevich, senior market analyst at FxPro, the current dynamics fit the narrative of Bitcoin (BTC) as a safe haven asset, with rising demand for equities playing against the largest cryptocurrency. However, Kuptsikevich cautions against relying too heavily on…