The story of “United States v. Sam Bankman-Fried” isn’t quite over yet. Now that he’s been found guilty on seven different charges, a few different things are going to happen. Source
What's Next for Sam Bankman-Fried's Legal Case?
Day: November 7, 2023
SHIB, DOGE Top Open Futures Rankings as Bitcoin (BTC) Rally Spurs Risk-Taking
Open interest, or the dollar value locked in the number of active perpetual futures and standard futures contracts, tied to SHIB has increased by 23% to $61.74 million since Nov. 1, the highest percentage growth among top cryptocurrencies, according to Velo Data. Open interest in DOGE has increased 14.6% to $328 million. Original
Kazakhstan’s authorities confirm they blocked access to Coinbase: Report
The Ministry of Culture and Information of Kazakhstan has officially confirmed they have blocked the Coinbase website in the country. The authorities of Kazakhstan have been blocking local IPs’ access to Coinbase since September at least. According to a Nov. 7 report from a local news outlet, Kursiv, access to the Coinbase website was blocked by an order of the Ministry of Culture and Information. Ministry representatives explained to journalists that the request came from a different government body, the Ministry of Digital Development, which accused Coinbase of violating the…
CryptoPunks drive NFT surge with $1.1m sale
A CryptoPunks NFT recently sold for 600 Ethereum (ETH), worth $1.14 million, representing the largest single NFT sale over the past seven days and the second-largest last month. The sale, involving CryptoPunk #7458, occurred on Nov. 6 at Larva Labs. Interestingly, the recipient address is relatively new, with the NFT purchase representing its second transaction. The address had received 360 ETH from a Coinbase address two hours before buying the NFT. NFT data aggregator resource CryptoSlam confirms that the recent transfer represents the largest single NFT transaction over the last…
Bitcoin Prices Steady as Traders Liken it to Gold; DOGE Leads Majors Gains
“The U.S. is now well over $33 trillion in debt, in addition to the unfunded liabilities of approximately $170 trillion. And, really, the only way out of this looming debt crisis is quantitative easing, or money printing, that will inevitably debase the dollar,” Mico said, adding bitcoin was poised to “be gold 2.0” amid such headwinds. Original
Bitcoin (BTC) Price Holds at $35,000 as Fed Softens on Rate Hikes
Analysts are expecting the Fed to pivot by March 2024 and begin the first rate cuts. Bitcoin and the crypto market are expected to rally in this scenario. Bitcoin (BTC) has maintained its position with the price around the $35,000 mark for the past 24 hours, with some attributing this stability to the possibility of the Federal Reserve pausing its interest rate hikes. This was due to the latest US jobs data, which indicated a less robust job market performance. The US Labor Department’s employment report revealed the addition of…
UBS Announces Q3 2023 Net Loss Larger than Expected Following Expenses Incurred from Credit Suisse Acquisition
The UBS report for Q3 2023 showed that the company’s net loss increased because of expenses necessary due to the Credit Suisse integration. Multinational investment bank and financial services company UBS Group AG (SWX: UBSG.SW) has published its report for Q3 2023, showing a disappointing net loss. The banking giant announced $785 million in net loss for the quarter, disappointing the market. Analysts Reuters polled had put the net loss for the quarter at $444 million. Most of the loss was because of expenses UBS acquired following the recent acquisition…
Ben ‘BitBoy’ Armstrong Sues Former Colleagues Over Allegedly Stolen Lamborghini
The suit, filed in the Superior Court of Cobb County on Nov. 1, lists six individuals as defendants: Timothy Shedd Jr., CEO of Hit Network (the company that owned Armstrong’s former channel); Timothy Shedd Sr., CFO of Hit Network; Justin Williams, CEO of Voomio; Allison Fiveash, a frequent contributor on Hit Network; Nickolas Dimondi, Hit Network’s head of content and Carlos Diaz, an associate of the company. Source
Why Ark Invest’s Cathie Wood Picks Bitcoin Over Cash And Gold
Ark Invest CEO Cathie Wood was a guest on Merryn Somerset Webb’s show ‘Merryn Talks Money’, where she discussed the macro environment and the recent happenings in the financial world. What will mainly interest the crypto community is what she had to say about the flagship cryptocurrency, Bitcoin. “Bitcoin Hands Down” When quizzed by Merryn about which she would prefer to hold for 10 years between gold, cash, and Bitcoin, Wood replied by saying, “Bitcoin hands down.” She noted that while Bitcoin and Gold both have hedging functionalities, the latter…
Blur token skyrockets as NFT sales surpass the $10m mark
The Blur (BLUR) token price gained bullish momentum for the first time in over four months as the marketplace saw a notable surge in non-fungible token (NFT) sales. Blur is up by 30% in the past 24 hours and is trading at $0.39 at the time of writing, reaching a four-month high. The asset’s market cap is currently at $414 million, last seen in late July. BLUR’s 24-hour trading volume also skyrocketed by 400%, surpassing the $460 million mark. BLUR price, whale activity, social volume, and open interest – Nov.…