Day: December 13, 2023

Wikipedia co-founder says Bitcoin doesn’t work, BTC community snaps back

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Wikipedia co-founder Jimmy Wales took to X (formerly Twitter) on Dec. 11 to take a shot at Bitcoin (BTC), bragging that while many users have lost their Bitcoin because they forgot their wallet passwords, he’s never lost any money due to losing his bank password. Wales’ comments didn’t resonate well with the wider Bitcoin and crypto community, who snapped back at the Wikipedia co-founder about its dependence on donations to run day-to-day operations. In his X post, Wales sarcastically claimed that he forgot the password to his bank account and…

Donald Trump May Be Ultimate Catalyst

VanEck analysts correlate Trump’s predicted victory with a global backlash against what they term an “anti-growth agenda”. In a recent report, analysts at investment firm VanEck, Matthew Sigel and Patrick Bush, predicted that former US President Donald Trump’s likely return to the White House will spark a Bitcoin (BTC) rally, boosting its price to $100,000 by December 2024 atop a market capitalization of roughly $2 trillion. The analysts’ prediction comes on the heels of the recent meteoric rise in the price of Bitcoin,  surpassing $40,000 per token and more than…

BlackRock Updates ETF Application Inviting Wall Street Banks to Participate

BlackRock’s recent app update indicates their engagement with the SEC led by Gary Gensler on Dec. 11, marking the third meeting in a series held over the past few weeks. BlackRock Inc (NYSE: BLK) has implemented structural modifications in its application to launch a spot Bitcoin ETF in the US. The updated filing allows Wall Street banks to generate new shares in the fund using fiat currencies, expanding beyond cryptocurrencies. To participate, banks must acquire authorized participant (AP) status. This adjustment is notable as regulated US banks, unable to hold…

OKX DEX suffers $2.7M exploit after proxy admin contract upgrade

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OKX decentralized exchange (DEX) suffered a $2.7 million hack on Dec. 13 after the private key of the proxy admin owner was reported to be leaked.  On Dec. 13, the blockchain security firm SlowMist Zone posted on X (formerly Twitter) that OKX DEX “encountered an issue.” According to the report, the issue began on Dec. 12, 2023, at approximately 10:23 pm after the proxy admin owner upgraded the DEX proxy contract to a new implementation contract and the user began to steal tokens. SlowMist Security Alert: OKX DEX Proxy Admin…

USDT Flowing to Crypto Exchanges Brings New Buying Power To Counter Sell-Offs, Says Analytics Firm Santiment

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Top stablecoin USDT has flowed onto crypto exchanges in the past six months, a potentially bullish indicator, according to the crypto analytics firm Santiment. The firm notes that Bitcoin (BTC) has been moving back “mildly” onto exchanges this month due to trader uncertainty. Santiment, however, says that USDT exchange inflows have also countered the BTC sell-off. There’s now nearly 7% more of the Tether-issued stablecoin on exchanges than six months ago, representing new buying power that’s a “great sign for bulls,” according to the analytics firm. Nearly 26% of USDT’s…

Donald Trump Launches New Mugshot Edition NFT Collection with Actual Pieces of Mugshot Suit and Tie

The new NFT collection will give users a chance to own an actual piece of the Trump mugshot suit and tie, and access to dinner at his resort. Former United States president Donald Trump has unveiled a new non-fungible token (NFT) collection for $99, called the “Mugshot Edition”. The collection references the billionaire businessman’s legal issues, allowing Trump to monetize the problem. As part of a new sale of “digital trading cards” NFT collection he launched late last year, Trump is selling the Mugshot Edition NFTs along with pieces of a suit…

Cathie Wood’s ARK Sold $11.5M Coinbase Shares

The firm offloaded a total of 82,255 shares worth about $11.5 million at Tuesday’s closing price from the ARK Innovation (ARKK), ARK Next Generation Internet (ARKW) and ARK Fintech Innovation (ARKF) exchange-traded funds (ETF). It has reduced its stake in the crypto exchange on all but two trading days this month. Source

Bitcoin ‘sodlers’ dump $4B in two days as BTC sales hit 18-month high

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Bitcoin (BTC) speculators panic sold as the BTC price corrected toward $40,000, the latest on-chain data suggests. Figures from on-chain analytics firm Glassnode show short-term holders (STHs) offloading more than $2 billion in BTC on Dec. 12 alone. Bitcoin short-term holders set 18-month selling record Bitcoin saw its biggest single-day drop of 2023 this week — one which at one point totaled 8.1%, data from Cointelegraph Markets Pro and TradingView confirms. BTC/USD 1-week chart. Source: TradingView Reacting, the more speculative subsection of the Bitcoin investor base followed in step, reducing…

Coinbase Launches Project Diamond to Tokenize Real-world Assets in Regulated Way

Coinbase-backed Project Diamond will leverage the Base L2 network and the Coinbase technology stack to enable institutional investors to tokenize and trade real-world assets. Leading United States cryptocurrency exchange by registered users and average daily traded volume Coinbase Global Inc (NASDAQ: COIN), has continued to widen its global market reach with Binance Holdings Ltd under regulatory siege. Backed by notable institutional investors with deep pockets like BlackRock Inc (NYSE: BLK) and Circle Internet Financial, Coinbase has managed to grow throughout the crypto bear market to a stable crypto institution with…

Stock Futures Move Higher as Traders Await Today’s Fed Rate Policy Decision

The gains have come while traders await the conclusion of the final Fed meeting of 2023. Stock futures in the United States climbed slightly higher on Tuesday, December 12, as investors await news on the Federal Reserve’s (Fed) policy. Futures on the Dow Jones Industrial Average (DIJA) climbed 0.11%, adding 42 points, while S&P 500 and Nasdaq 100 futures rose 0.11% and 0.18%, respectively. The market expects the US’ apex bank to keep rates steady instead of a reduction or an increase. This means the interest rate will remain in…