Day: November 23, 2023

Nearly $6.5b in Bitcoin and Ethereum options are set to expire

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Over $6.51 billion in Bitcoin and Ethereum options are due to expire on Nov. 24, potentially indicating heightened trading activity. A  vast number of Bitcoin (BTC) and Ethereum (ETH) options are set to expire on Nov. 24, potentially influencing market dynamics. This comes in the wake of the U.S. DOJ’s recent criminal charges against the Binance and its hefty $4.3 billion fine.  Specifically, about 108,000 BTC options are nearing their expiration date. These options carry a Put Call Ratio of 0.83, indicating a slightly higher inclination towards call options (betting…

Sam Bankman-Fried swaps Bitcoin for mackerel in prison

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The FTX founder participates in ‘prisonomics’ at a Brooklyn detention center where demand for mackerel pouches outshines interest in Bitcoin and crypto. Convicted FTX founder Sam Bankman-Fried has battered seafood delicacies with fellow inmates during his time at the Brooklyn Metropolitan Detention Center (MDC). He exchanged it for services while awaiting his sentencing, according to the Wall Street Journal citing people familiar with the matter.  Bankman-Fried paid four mackerel pouches to a detainee for the haircut he carried at his trial in a New York federal courthouse, per the report.…

Fake Elon Musk YouTube streams lead to $165k crypto scam

In a joint effort, SpaceX and BitOK have revealed a fraudulent crypto giveaway orchestrated by scammers impersonating Elon Musk, who managed to raise $165,000 in donations. The scheme was said to involve a deepfake version of Elon Musk in live YouTube streams, which have since been removed. The report that was shared with crypto.news claims that the users were offered to access a website via the QR code featured in the broadcast. Fake website promoting ‘SpaceX’ giveaway | Source: BitOk The page stated that individuals participating in the giveaway should…

Ethereum (ETH) price reclaims $2K as data shows a surge in network activity

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Ether (ETH) price is trading slightly higher on Nov. 23, maintaining support above the $2,000 level after briefly retesting $1,930 on Nov. 21. Over the past week, Ether’s price has increased by 2.5%, while the total market capitalization has grown by 0.5%. This uptrend can be attributed to improved decentralized applications (DApps) metrics, increased protocol fees, and Ethereum’s dominance in the non-fungible token (NFT) market. To assess whether Ether can sustain its $2,000 price point, one must consider the repercussions of Binance’s recent regulatory challenges following its plea deal with…

Disgraced FTX Founder Turns To Trading Fish In Prison

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According to a report by Business Insider, Sam Bankman-Fried (SBF), co-founder and former CEO of FTX, has adapted to the economic system of New York’s Metropolitan Detention Center (MDC), where he is currently awaiting sentencing on multiple felony counts.  The disgraced crypto-billionaire has reportedly been bartering, using food as currency in exchange for various services within the prison. Former FTX CEO SBF Trades Fish For Services Per the report, mackerel, a fish commonly referred to as “macks” among inmates, emerged as the currency of choice in federal prisons after cigarettes…

Harvest Global Investments pioneers tokenized bond fund in Asia

Harvest Global Investments partners with Meta Lab HK to launch a tokenized U.S. dollar bond fund on Nov. 23. According to a Nov. 22 post on X, Harvest Global Investments (HGI), an investment firm under Harvest Fund Management, collaborated with Meta Lab HK, a company backed by Harvest Digital Assets. Together, they will tokenize a fund under its management on Nov. 23. As part of the announcement, Meta Lab HK shares the fund will target professional investors and focus primarily on investments in U.S. dollar bonds with an investment-grade rating.…

November scores exploiters $290m over 5 major crypto hacks

Attacks on Poloniex, HTX, Heco bridge, KyberSwap, and Kronos Research earned hackers $290 million, with a week to go until November 2023 closes. As of Nov. 23, crypto hackers reportedly stole a combined $290 million from five major heists where at least $10 million was illegally ferried from each protocol. The platforms affected included three Justin Sun-related entities: HTX, Heco Bridge, and Poloniex, according to Lookonchain. Exploits on HTX and Heco occurred on Nov. 22, the second most recent attack at press time. Hackers siphoned over $13 million and $86…

Analyst Says Ethereum Is Seeing ‘Systemic Buying’, What This Means

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A CryptoQuant Analyst has identified a significant systemic buying trend in Ethereum, suggesting a rising influx of strategic investments into the blockchain network.  Analyst Reveals Ethereum Systemic Buying Trend A crypto market observer and a contributing analyst at CryptoQuant, Maarten Regterschot has taken to X (formerly Twitter) to publish a systemic buying trend he witnessed in Ethereum. The analyst presented a chart indicating that one or more investors have been engaging in Time Weighted Average Price (TWAP) buying on Ethereum futures.  Regterschot stated that the linear increase in open interest…

NXRA price skyrockets, boosted by Arbitrum transition

AllianceBlock’s NXRA token is surging, potentially driven by its move to Arbitrum and increasing demand for RWA tokenization.  AllianceBlock’s NXRA token has seen a remarkable surge in value over the past few weeks. The token is up by over 34% in a week and 71% in a month. NXRA monthly price | Source: CoinMarketCap This significant uptick in NXRA’s price is likely attributed to the token’s recent transition to the Arbitrum network. The layer-2 solution is renowned for its high-speed and low-cost transactions aimed at enhancing the Ethereum (ETH) network.…