Day: November 25, 2023

BitMEX Co-founder predicts Bitcoin surge amid dollar liquidity rise

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Arthur Hayes, co-founder of BitMEX, provided perspectives on a potential Bitcoin surge on the X platform. Alongside a chart depicting net Reverse Repurchase Agreement (RRP) and Treasury General Account (TGA) balance changes, the message specifically referred to Treasury Secretary Janet Yellen as “Bad Gurl Yellen.” In the statement, Arthur Hayes encouraged fellow Bitcoin enthusiasts to stay focused, highlighting a significant uptick in dollar liquidity. He proposed that Bitcoin (BTC) will likely mirror the rise in dollar liquidity, anticipating a positive trajectory in its price. The displayed chart illustrated the net…

‘Metaverse technology is still immature, but in 30 years, everyone will use it’

Crypto.news spoke with David Shrier, the author of the book ‘Basic Metaverse,’ about the future of the virtual world. The global metaverse market could potentially reach a revenue of $1,237 billion by 2030, as projected by recent reports. However, intricate security and privacy concerns may slow down the market’s growth. Crypto.news discussed these and other concerns with David Shrier, a futurist, author, and entrepreneur, at Websummit in Lisbon. In his book ‘Basic Metaverse: How Virtual Worlds Will Change Our Reality and What You Can Do to Unlock Their Potential’, Shrier…

Ethereum Whales Go On 9-Day Accumulation Spree: ETH Price Rally Incoming?

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The price of Ethereum has been on a steady and monumental rise in the past few weeks, and the last seven days have not been much different. The altcoin breached the $2,100 mark on Friday, November 24, with its sights now set on new yearly highs. Interestingly, a recent on-chain revelation has shown what could be behind the latest ETH price surge while offering insights into the future prospects of the cryptocurrency. On-Chain Data Shows Whales Continue To Buy ETH Renowned crypto analyst Ali Martinez, in a post on X,…

Azuki DAO rebrands to ‘Bean’ as it drops lawsuit against founder

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Azuki DAO, an unofficial community decentralized autonomous organization surrounding the namesake nonfungible token collection, has announced its rebranding to “Bean” as it drops a proposed lawsuit against the NFT collection’s founder, Zagabond, over a $39 million minting affair.  In a statement sent to Cointelegraph, Azuki developers said the DAO will rebrand into a memecoin project and become part of the Ethereum layer-2 Blast ecosystem. Developers also claims that Bean has also secured $10 million from “prominent investors” for its development and acceleration within the Blast ecosystem. The proposed Bean memecoin…

British investment funds get go-ahead to launch blockchain-based tokenized assets

With the latest move, the U.K. hopes to bolster liquidity in its asset management market. British investment managers have received an approval to develop tokenized funds with the help of blockchain technology as the country seeks to benefit from the global digitization trend. As reported by Reuters, investment managers in the U.K. have been authorized by the Financial Conduct Authority (FCA), the financial services regulator, to start offering tokenized funds, albeit for mainstream assets only. Michelle Scrimgeour, who is the sitting chair of a working group tasked with aligning with…

Bitcoin Price Rockets Past $38,000, Highest Peak Since May 2022

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In a dramatic twist, a mere 48 hours after the United States laid out a hefty $4.3 billion settlement proposal with the major player in the crypto market, Binance, Bitcoin price defied expectations by catapulting to a new peak for the year. Breaking the $38,000 barrier in the early stages of the New York trading session on Friday, the cryptocurrency sector, witnessed the long-anticipated surge. Bitcoin’s recent consolidation within a pennant pattern had hinted at the prospect of a bullish upswing, and it seems those predictions have materialized. Bitcoin Price…

Arrest made in Nigeria’s Patricia Technologies crypto wallet heist

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The Nigeria Police Force (NPF) said it has arrested one politician, Wilfred Bonse, for the theft of over 200 million naira ($246,153) from Patricia Technologies’ crypto wallet. The disclosure was made by Olumuyiwa Adejobi, the force public relations officer, in a statement issued on Friday. Bonse allegedly assisted hackers in laundering 50 million naira ($61,538) from the stolen funds. He stated that the NPF, through its National Cybercrime Center, has achieved significant progress in the Patricia Technologies case. The case includes criminal conspiracy, the unauthorized alteration of computer systems and…

Montenegro court approves Do Kwon’s extradition

The court in Podgorica made a positive decision in the extradition case of Terraform Labs founder Do Kwon. According to the document, the requests of both the South Korean and US authorities were satisfied. The final decision on where to extradite Kwon will be made by the country’s Minister of Justice. Extradition is likely to occur after the Terraform Labs chief serves a four-month prison sentence for document forgery after he was found to be travelling with a fake passport. The final decision on the country of extradition will be taken by…

Atlético Madrid reportedly planning to sue crypto exchange WhaleFin

The Spanish football club Atlético Madrid is preparing to file a lawsuit against the Singaporean crypto exchange WhaleFin, per a news report. According to Protos, the subject of the dispute is income relating to a sponsorship in the amount of $44 million, which the cryptocurrency exchange did not pay to the football club. According to the source, Atlético Madrid signed a five-year contract with WhaleFin ahead of the 2022/23 season. Subsequently, the crypto exchange violated the terms of the agreement and refused to pony up the rest of the payment,…

CZ challenges US gov’t attempt to restrict travel before sentencing date

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Former Binance CEO Changpeng “CZ” Zhao has opposed the United States government’s efforts to block his return to the United Arab Emirates (UAE) to be with his family while awaiting sentencing following his guilty plea. In a court filing on November 23, Zhao’s lawyers urged a US District judge to reject the proposed alteration of his bail conditions, as put forth by the U.S. Department of Justice (DoJ).  Extract of a court filing in the US District Court for the Western District of Washington. Source: CourtListener It was further reiterated…