Day: November 28, 2023

Mercedes F1 and MLB Teams Help FTX in Conducting Fraud Vid Deals

The ongoing lawsuit has a complaint against Mercedes F1 that echoes the accusations, asserting that the team prominently featured FTX’s logo on its cars, merchandise, and marketing materials. A group of FTX users has filed twin class-action lawsuits in a Florida district court, accusing the Mercedes-AMG Petronas F1 Team and Major League Baseball (MLB) of complicity in FTX’s alleged “massive, multibillion-dollar global fraud”. The suits, filed on November 27, claim that both entities aided or actively participated in the fraudulent activities of FTX Group. The lawsuits also allege the promotion…

CME-Listed Bitcoin (BTC), Ether (ETH) Futures Flash a Rare Bullish Signal

A futures contract is a legal contract to buy or sell the underlying asset at a predetermined price at a specified future date, called the expiry date. Usually, futures markets are in contango, a term used to describe when the price of futures rises above spot, with further-out futures drawing higher than nearer-expiration futures. An increase in buying pressure often causes the contango to widen. Source

​​Hong Kong authorities say 145 victims and $18.9M lost in Hounax scam

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Hong Kong authorities reported on Nov. 27 that 145 users were affected in a scam by the unlicensed cryptocurrency exchange Hounax, resulting in a loss of 148 million HKD ($18.9 million), according to local media Shenzhen Commercial News.  On Nov. 25, local police held an initial press conference to inform the Hounax platform of the reports. The Hong Kong Securities Regulatory Commission (SFC) said that as of the 27th, they received 18 complaints about exchange regarding amounts ranging from 12,000 HKD to 10 million HDK ($1,539- $1.2 million). According to…

Bitcoin advocates cite BTC mining as key tool for clean energy and grid balance

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A new working paper by Bitcoin advocates and the former head of the Electric Reliability Council of Texas (ERCOT) identifies Bitcoin mining as a key tool for clean energy and balancing the grid. In a new academic paper called “Leveraging Bitcoin Miners as Flexible Load Resources for Power System Stability and Efficiency” the authors suggest that cryptocurrency can aid in the integration of renewable energy. The authors provide a compelling case that demonstrates how Bitcoin miners have been instrumental in demanding response programs, offering unique capabilities as flexible and controllable…

SEC Intensifies Hunt for Evidence in Binance.US Fraud Probe

According to the US Commodity Futures Trading Commission (CFTC), allegations of money laundering against Binance may be just the tip of the iceberg. Binance, one of the world’s largest crypto exchanges, faces heightened scrutiny from the US Securities and Exchange Commission (SEC). A recent report by the Wall Street Journal suggests that the SEC is actively searching for additional evidence to substantiate allegations of potential fraud at Binance.US. The SEC’s Lawsuit against Binance The SEC initiated legal proceedings against Binance US in June, accusing the platform of operating illegal securities…

Solana Bulls Ready To Charge As Analyst Predicts Rally Past $80

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Positive events have come for Solana (SOL), the high-performance blockchain network, indicating bullish momentum. In the last month, the price of Solana has risen by 84%, and is currently trading at $56. With gains of 18 out of the previous 30 days and price volatility of 22.32%, Solana is still a force to reckon with. In that span of time, SOL’s price surged by a staggering 78%, from $32 to $57. The ecosystem is much more excited now that Binance has listed BONK, a meme coin based in Solana. Further…

Cathie Wood’s ARK Invest Sells $5.26M COIN Shares as Price Hits 19-Month High

CryptoX – Cryptocurrency Analysis and News Portal The Ark Fintech Innovation exchange-traded fund’s (ETF) sale of 43,956 shares took place on the day COIN reached $119.77 on the Nasdaq market, the highest closing price since April 2022. The sale is the biggest since July 25, when the ARK Next Generation Internet ETF dumped more than 53,000 COIN shares, albeit at a lower price and for a lower total value. Source The post Cathie Wood’s ARK Invest Sells $5.26M COIN Shares as Price Hits 19-Month High appeared first on CryptoX. CryptoX…

Animoca becomes largest validator of Telegram’s TON blockchain

Web3 investment firm Animoca Brands is set to become the largest validator of Telegram’s TON (The Open Network) blockchain and plans to deliver blockchain-based games to the messaging app’s 800 million strong user base. An announcement shared with Cointelegraph outlined how the partnership will involve the provision of funding, research, and an analytics platform for third-party TON ecosystem applications.  The value of Animoca’s investment was not disclosed at the time of publishing, but part of the investment is understood to have been made directly into Toncoin, which has been staked…