Day: November 22, 2023

MAYC ripoff creator pleads guilty, G2A opens NFT platform: Nifty Newsletter

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In this week’s newsletter, read about the creator of a Mutant Ape Yacht Club (MAYC) knock-off pleading guilty to fraud charges, check out how OpenSea’s non-fungible token (NFT) users received a massive phishing email campaign, and how Bitcoin transaction fees flipped Ethereum network fees as the hype for Ordinals resurfaced. In other news, game distributor G2A has launched a gaming-focused NFT marketplace.  Creator of Mutant Ape ripoff NFTs pleads guilty to $3 million fraud scheme Aurelien Michel, the creator of the Mutant Ape Planet NFT collection, which copies the popular…

Crypto Exchange Bittrex Global Announces Plans To Cease Operations and Wind Down Trading

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Embattled crypto exchange Bittrex Global has decided to wind down operations after its US-based arm filed for bankruptcy amid a slew of regulatory challenges earlier this year. The foreign exchange will disable all trading activity on December 4th. No concrete withdrawal deadline has been established, but Bittrex Global recommends customers pull out their assets as soon as possible because a “withdrawal deadline may be set by the liquidators at some point in the future.” The exchange also notes that customers cannot directly withdraw US dollar holdings and will need to…

Bitcoin derivatives traders target $40K BTC price now that Binance is resolved

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The cryptocurrency market recently experienced events that were previously expected to present a severe negative price impact, and yet, Bitcoin (BTC) trades near $37,000 on Nov. 22, which is essentially flat from three days prior. Such performance was utterly unexpected given the relevance of Binance’s plea deal on Nov. 21 with the United States Authorities for violating laws involving money laundering and terror financing. Bearish news has had limited impact on Bitcoin price One might argue that entities have been manipulating Bitcoin’s price to avoid contagion, possibly involving the issuing…

Binance Settlement With U.S. Department of Justice Could Put an End to (BNB) Death-Spiral Fears

Rajeev Bamra, head of DeFi and digital-assets strategy at Moody’s Investors Service, praised Teng’s extensive regulatory background and experience, in an emailed statement from the credit-rating firm. Teng’s stepping in as the new leader of the exchange could provide an opportunity to move beyond regulatory concerns and “chart a path towards stability and a fresh beginning,” according to Bamra. Source

Bitcoin (BTC) Price and Crypto Prices Turn Higher After Binance and CZ Deals

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Stepping away from the headlines, a number of observers have noted that the Binance settlement in essence may have cleared the decks for the U.S. Securities and Exchange Commission (SEC) to finally approve a spot bitcoin ETF. The neutering of Binance and exit of CZ, they said, might have eased the agency’s concerns regarding overseas manipulation of bitcoin prices. Original

Binance CEO CZ’s downfall is ‘the end of an era’ — Charles Hoskinson

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In a Nov. 22 YouTube video, Cardano founder Charles Hoskinson reflected on the news that Binance CEO Changpeng “CZ” Zhao had stepped down from the exchange. Hoskinson claimed that the event represented “the end of an era.” He argued that entrepreneurs will need to comply with regulations or else develop completely permissionless protocols that can’t be regulated. The End of an Era https://t.co/d3AcHWu66C — Charles Hoskinson (@IOHK_Charles) November 22, 2023 In the video, Hoskinson claimed that CZ was “part of a class of entrepreneurs in the cryptocurrency space who really…

Celestia Loses Momentum: Anticipating A Rebound Post 11% Dip

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Celestia witnessed a notable decrease in its price over the current week, indicating the conclusion of its recent upward trend. Celestia’s total market capitalization dropped below $800 million as a result of this decrease. Tuesday’s low for TIA was $5.4, the lowest since last week, and represented a significant 20% decline from the stock’s highest point earlier this year. TIA, currently trading at $5.85, has shed 11% in the last 24 hours, based on latest data. Celestia Tallies Over 200% Rally After becoming public in October, the TIA token experienced…

SEC Commissioner on spot Bitcoin ETFs: “No reason to block”

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SEC’s Hester Peirce supports spot Bitcoin ETF and hopes for less litigation in establishing crypto regulation. In the latest interview with Bloomberg, Commissioner of the U.S. Securities and Exchange Commission (SEC), Hester Peirce, hinted at support and approval for a spot Bitcoin ETF. Peirce said the SEC has no reason to stand in the way of a Bitcoin ETF, with the commissioner adding that her stance on this matter has been the same for years.  Peirce confirmed that every application is being judged on its own specific set of facts…

Binance New CEO Affirms Strength In Company’s Fundamentals

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The world’s leading cryptocurrency exchange Binance new Chief Executive Officer (CEO) and former global head of regional markets Richard Teng has recently expressed his confidence in the crypto company’s fundamentals. Binance Fundamentals Shows Strength Amid Challenges, New CEO Earlier today, the new Binance CEO confidently revealed the fundamental strength of the crypto company despite recent challenges. The CEO took to his official X (formerly Twitter) handle to share his belief in the company. According to Teng, the fundamentals of the company’s business are still solid.  Related Reading: Bitcoin Price Plunge…