Day: July 19, 2024

Why will Robinhood be $9m poorer with its referral program?

A U.S. federal judge has ordered Robinhood Financial LLC to pay $9 million in a lawsuit over its referral program. The case involved a broker’s “refer-a-friend” promotion that allowed unwanted text messages to be sent in Washington. The total payment will be $9 million, including $2.2 million in attorney fees. “Robinhood has agreed to pay $9,000,000 to establish a non-reversionary Settlement Fund to benefit Settlement Class Members who filed claims. It is an excellent result for the approximately 827,327 consumers.” Court filing Judge Barbara Rothstein of the U.S. District Court…

Market Strategist Says Bitcoin Downtrend Is Finally Over, Here’s Where Price Is Headed Next

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A market strategist has declared that Bitcoin (BTC), the world’s largest cryptocurrency, has finally concluded its downtrend. According to the strategist, Bitcoin may be heading to a new price target, driven by the positive shift in its market value.  Bitcoin Downtrend Is Over A crypto analyst identified as ‘Rekt Capital’ on X (formerly Twitter) has announced to his 484,500 followers that Bitcoin’s prolonged downward trend was officially over. The analyst, who has been monitoring the cryptocurrency’s market and price actions, has suggested that Bitcoin may be getting ready for a…

UK advised to ‘rebuild Britain’ with $5b Bitcoin trove

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Bitcoin has entered a new paradigm in which investors must consider the future of state-controlled BTC stockpiles and sovereign approaches to holding or selling the asset. The United Kingdom should liquidate its Bitcoin (BTC) trove valued at an estimated $5 billion at current prices, Bloomberg senior opinion columnist Merryn Somerset Webb wrote on Friday. Webb’s advice was directed at the UK’s new Chancellor, Rachel Reeve, as commentators chimed in on how the Labour-led administration might string together funds to rebuild Britain’s economy.  Britain’s Bitcoin stash has grown considerably over the…

Polymarket’s largest bet misses as Trump fails to mention Bitcoin at RNC speech

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Bitcoin price remained below $65,000 on Friday as Donald Trump avoided mentioning the coin and crypto in his speech at the Republican National Congress (RNC) event. Bitcoin (BTC) was trading at $64,200 Friday morning, roughly where it traded at 24 hours ago. In his closely-watched speech at the Republican National Convention on Thursday, Donald Trump avoided one of the hottest issues in the financial market: crypto. Most people, including those using Polymarket, believed that he would at least mention the digital asset universe, similar to how he has done in several…

Binance analysts says ‘worst likely behind’ as Bitcoin trades near $65k

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Analysts at Binance Research say they remain “optimistic” about the market’s outlook, expecting upcoming catalysts to position the market “positively for the rest of the year.” The crypto industry may have already seen the worst of this year, according to Binance Research analysts, who said in a Friday report the “incremental negative impact” might be limited as Bitcoin (BTC) regained its positions lost during the harsh June. The analysts admitted that it has become “increasingly difficult to make profits in the current market environment,” referring to negative returns from newly…

Indian Crypto Exchange WazirX Files Police Complaint After $230M Hack, Engages With Cyber Crimes Unit

WazirX, which is registered with FIU-India, which falls under the Finance Ministry, has sent the body an incident report. However, the FIU is mandated with monitoring transactions under the nation’s Prevention of Money Laundering Act (PMLA). Given the WazirX incident is a security breach, the incident does not fall under the FIU’s ambit. The FIU declined an in-person request to comment. Source

HTX Is Latest Exchange to Integrate Fireblocks

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Global crypto exchange HTX has integrated Fireblocks Off Exchange. This is aimed at enhancing digital asset security and streamlining global compliance operations. It employs Fireblocks’ multi-party computation (MPC) technology to mitigate exchange counterparty risk, marking a substantial step in risk mitigation for over-the-counter transactions in the cryptocurrency market. The collaboration is expected to improve the […] Source

Mass Exodus: Over 672,000 Bitcoin Holders Drop Out Amid Market Shifts

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As Santiment analytics disclose an accelerating decline in wallets holding one or more Bitcoin, the cryptocurrency industry has gone abuzz. Crucial for gauging mood in the market, this indicator has been progressively dropping as traders become less optimistic that Bitcoin may rise beyond its historic high of $73,750, which it last touched on March 14. The general feeling in the market is that people don’t think Bitcoin will reach a new all-time high this year. Related Reading Largely due to “fear, uncertainty, and doubt” (FUD), smaller investors of the asset…

Bitcoin Trades at $64K as Biden Withdrawal Likelihood Increases

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Bitcoin traded either side of $64,000 following a retreat from $65,000 on Thursday. The increasing likelihood of Joe Biden withdrawing from the race for U.S. president has taken some of the wind out of BTC’s sails after it briefly regained $66,000 earlier this week. With a second term in the White House for Donald Trump considered the far more beneficial outcome for the crypto industry, BTC was buoyed by Biden’s poor performance thus far in the campaign coupled with the assassination attempt on the Republican nominee. The possibility of a…