Day: December 12, 2023

FTX case unwinnable, says Sam Bankman-Fried’s lawyer

Sam Bankman-Fried’s lawyer, David Mills, calls his client the worst witness ever and emphasizes the FTX founder made the case unwinnable.  In a recent interview with Bloomberg, Mills described the former FTX CEO’s trial as one of his most daunting cases yet. The case began with a personal request, as Joseph Bankman and Barbara Fried, Bankman-Fried’s parents and long-time acquaintances, sought his expertise. The parents believed in their son’s innocence and needed a capable defender in his corner. Mills, acknowledging the depth of their friendship, agreed to assist without any…

Crypto Analyst Predicts Cardano Price Will Rise 6000% To $33, Here’s The Timeline

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Crypto analyst Tyler Strejilevich has speculated what could be another tremendous bullish run for Cardano (ADA). Cardano has already done a 132% gain for its holders since the beginning of the year, but according to a discovery by this analyst, the token might just be getting started. In fact, if Strejilevich is right, ADA could skyrocket by an incredible 6000% from today’s price to $33 in the next year. Crypto Analyst Tyler Strejilevich Spots Bullish Signal For Cardano Crypto analyst Tyler Strejilevich made his discovery known in a post on…

Venture Capital Arm of Crypto Exchange KuCoin Invests in Bitcoin (BTC) Layer-2 Project

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The venture capital division of the cryptocurrency exchange KuCoin is announcing an investment in Dovi, a Bitcoin (BTC) layer-2 solution that is compatible with the Ethereum Virtual Machine smart contract platform. Lou Yu, the head of KuCoin Labs, says the investment will assist Dovi in realizing its various product and market goals. On its commitment to the Bitcoin ecosystem, KuCoin Labs says, “KuCoin Labs will continue to focus on incubation, investing in the BTC ecosystem, and bringing the next BTC ecosystem phenomenon-level application to the industry. We welcome other BTC-native…

Inside the Nuclear Arms Control Hub in Contact With Russia

On Sept. 11, 2001, the U.S. prepared for a dramatic and sudden military response to the worst attack on American soil in the country’s history.  But there was a problem. Normal military communications between the U.S. and Russia had been severed after a hijacked plane crashed into the Pentagon. As the U.S. sought to move its military forces to the highest state of peacetime readiness, there were concerns that this might raise alarm bells in Russia. One line to Moscow was left standing.  “At this time the United States has…

Terra co-founder Do Kwon will stay in Montenegro until February: Report

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Terraform Labs co-founder Do Kwon, expected to be extradited to the United States to face criminal charges, will reportedly stay in Montenegrin custody until February. According to a Dec. 12 Bloomberg report, authorities with the U.S. and South Korea requested Montenegrin officials hold Kwon for an additional two months following the conclusion of his prison sentence. The Terraform Labs co-founder was arrested in Montenegro in March for using falsified travel documents and sentenced to four months behind bars. Kwon, a South Korean national formerly based in Singapore, has been charged…

Bitcoin has bullish outlook despite pullback

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Things are still looking up for bitcoin despite an eye-popping drop in its price at the beginning of this week, according to Fairlead Strategies. Bitcoin fell 7% Monday as traders took profits from a two-month rally now at 54%, according to Coin Metrics. The selling took place days after bitcoin surpassed the $40,000 level, rising above $44,000 quickly for the first time since April 2022. On Tuesday, it was trading at about $41,000. That could just be a blip in the chart, however. “It has yet to impact our short-term…

Celestia to integrate with Polygon CDK for data availability in 2024

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The Celestia network will integrate with Polygon’s chain development kit (CDK) sometime “early next year,” according to a Dec. 11 announcement. The integration will provide an “easily-pluggable component” for Polygon-based networks to use Celestia for data availability. Celestia block explorer “Celenium.” Source: Celenium The announcement claimed that transaction fees could be reduced by more than 100 times if networks stored compressed transaction data on Celestia instead of Ethereum. The integration coming in early 2024 will simplify this choice, providing this option within the Polygon CDK software itself. “This is the…

CME Bitcoin futures down 10%, still ahead of Binance

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The Chicago Mercantile Exchange remained traders’ preferred platform for Bitcoin futures even as BTC saw a 4% price correction amid a wide-ranging market dip. Bitcoin (BTC) futures positions on the Chicago Mercantile Exchange (CME) fell over 10% between Dec. 11 and Dec. 12, according to CoinGlass. The decline in open interest (OI) amounted to some 11,000 Bitcoins, the largest drop among exchanges within that time.  Despite the change, CME was the top venue for BTC futures open interest at press time and eclipsed the second closest contender, Binance, by at…