Onchain Analyst: Binance Taps Cold Wallet Reserves as Bitcoin Outflows Spike
According to the creator of timechainindex.com, Binance, one of the leading cryptocurrency exchanges, has recently experienced “significant outflows.” This activity has reportedly prompted the platform to tap into its cold wallet reserves to manage the situation. $334 Billion in Play: Centralized Exchanges Face Onchain Scrutiny Amid Bitcoin Highs The chatter on the onchain grapevine suggests […]A perfect storm is brewing for Bitcoin
Reflexivity squared: How Bitcoin ETF options could lead to explosive price movements.
Opinion by Mehdi Lebbar, co-founder of Exponential.fi.
Bitcoin (BTC) is the world’s most reflexive asset today. The United States Securities and Exchange Commission recently approved options for several Bitcoin exchange-traded funds (ETFs). Once issued, these options lead to gamma squeezes, acting like reflexivity. Together, that’s reflexivity squared, leading to unprecedented price movements.
The launch of spot Bitcoin ETFs was already a landmark event for the financial world. In their first month, BlackRock’s and Fidelity’s Bitcoin ETFs attracted unprecedented inflows, each accumulating $3 billion — setting records for ETF launches.
NFT weekly sales surge 94%, McDonald’s partners with Doodles: Nifty Newsletter
NFTs continue to recover as weekly sales volumes hit $181 million, surging 94% week-on-week.
In this week’s newsletter, read about non-fungible token (NFT) sales volume’s continued recovery with a 94% surge week-on-week, check out McDonald’s new partnership with NFT project Doodles for its online promotion called “GM Spread Joy,” and, in other news, former professional basketball player Shaquille O’Neal settled an Astral NFTs lawsuit for $11 million.
NFT sales volumes rebounded as Bitcoin and other crypto markets rallied. In the week to Nov. 17, digital collectibles surged by 94%, recording a sales volume of $181 million across different blockchains.
Ethereum, Bitcoin and Solana led the surge. Ethereum recorded an NFT sales volume of $67 million for the week, while Bitcoin had $60 million and Solana had $26 million.
FTX co-founder Gary Wang sentenced to time served
Wang was the final FTX executive awaiting sentencing over the 2022 exchange collapse and subsequent fraud charges.
FTX co-founder Zixiao “Gary” Wang was sentenced to time served plus forfeiture of assets in a United States district court in New York on Nov. 20, making him the fifth and final executive sentenced over the exchange’s 2022 collapse.
Wang pleaded guilty to fraud charges in December 2022 alongside former Alameda Research CEO Caroline Ellison. For her part in the scheme, in which she admitted to conspiring with FTX co-founder Sam Bankman-Fried to steal $8 billion, Ellison received a two-year sentence.
Judge Lewis Kaplan oversaw all five cases and issued prison time in Ellison’s case as well as Bankman-Fried’s (25 years) and former FTX Digital Markets co-CEO Ryan Salame (7.5 years).
Coin Center lawyers argue Tornado Cash is not property
The Coin Center lawsuit, first filed in 2022, noted that one plaintiff used Tornado Cash to protect his identity while donating money.
Coin Center is appealing an earlier ruling by the United States district court for Northern Florida, which held that Tornado Cash creates indirect benefits for foreign individuals and entities that can be defined as a financial interest subject to sanctions from the Office of Foreign Assets Control (OFAC).
Legal counsel for Coin Center Jeffrey S. Hetzel told the 11th Circuit Court of Appeals, “The easiest way to resolve this case is to hold that in our plaintiffs’ transactions, there is no foreign property. The district court had to erase the word property from the statute.” Hetzel continued the argument:
Attorneys for the United States government countered Hetzel by maintaining that price appreciation of the Tornado Cash token, TORN, directly benefitted TORN holders and asserted that withdrawal fees were a form of accrued benefits for the protocol’s founders.
Lucky Block Price Prediction 2024-2030: Growth Forecast and Key Market Drivers
Lucky Block (LBLOCK) has grown popular as a decentralized lottery and gaming platform, leveraging blockchain technology for fairer, more transparent lottery draws. As a unique player in the cryptocurrency market, Lucky Block’s potential for growth is rooted in its appeal among crypto-enthusiasts looking for innovative DeFi applications. So, what are Lucky Block’s price predictions for […]History May Repeat for Bitcoin, Sending BTC to Massive Price Target, According to Crypto Analyst
A closely followed crypto strategist believes Bitcoin (BTC) may be repeating a historical pattern that could suddenly send it into the six-figure range. Analyst Ali Martinez tells his 84,100 followers on the social media platform X that Bitcoin may be gearing up for a massive breakout based on what happened in the two prior bull […]
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Galaxy Digital Executive Says ‘Reasonable’ To Look at Bitcoin To Replace US Dollar in Future
One of Galaxy Digital’s top executives says that the US government may be forced to look at Bitcoin (BTC) as a potential replacement for the US dollar in the future. In a new interview with Bloomberg Television, Galaxy Digital’s head of firmwide research Alex Thorn comments on the potential for the US to launch a […]
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SEC delays decision on Franklin Templeton Bitcoin & Ethereum index ETF
The SEC delays its decision on Franklin Templeton’s Bitcoin and Ethereum ETF, extending the deadline to January 6, 2025.
The post SEC delays decision on Franklin Templeton Bitcoin & Ethereum index ETF appeared first on Crypto Briefing.
Yellow Card’s African Push: Coinbase-Backed Platform Wins South African License
Coinbase backed Yellow Card, a leading African crypto platform, has secured a crypto asset service provider (CASP) license from the Financial Sector Conduct Authority (FSCA) in South Africa. The license allows Yellow Card, which is also licensed in Botswana, to expand its operations and cater to the growing demand for stablecoin-based services. This latest milestone […]AI Platform BitGPT Experiences Significant Growth Following Binance Demonstration
November 20, 2024 – Tallinn, Estonia Following its global unveiling on the main stage of Binance’s Blockchain Week conference in Dubai, AI platform BitGPT is experiencing sizable growth across every vertical of the project – from active partnership conversations to the number of users currently testing its technology. BitGPT’s X and Telegram communities grew in […]
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The First Trillionaire Will Be Made in Crypto
History has shown that great technological shifts create vast wealth. Crypto, the next frontier, is no exception. Decentralized Wealth Will Surpass All Previous Tech Revolutions The first trillionaire will emerge from the crypto world. Like past tech booms created billionaires, crypto will generate wealth on an even larger scale. Blockchain and decentralized finance (defi) are […]Price analysis 11/20: BTC, ETH, SOL, BNB, XRP, DOGE, ADA, SHIB, TON, AVAX
Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.
Bitcoin (BTC) bulls have kept up the pressure, and the price is trying to climb above $95,000. Options contracts on BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust ETF (IBIT), launched on Nov. 19, were an instant hit.
Bloomberg ETF analyst James Seyffart said in a post on X that IBIT options recorded roughly $1.9 billion in notional exposure, and that could be the reason for Bitcoin’s new all-time high on Nov. 19.
Bitcoin’s price is nearing $100,000, but MicroStrategy, the largest corporate holder of Bitcoin, is not showing any signs of slowing down its purchases. The business intelligence firm revealed plans to raise $2.6 billion from senior convertible notes to buy more Bitcoin and for general corporate purposes.
Japan passes stimulus package, commits to crypto tax reform
Proposed changes include taxing cryptocurrency at a 20% flat rate instead of the current variable ‘miscellaneous income’ rate.
Japan will go ahead with a proposed stimulus package after Prime Minister Shigeru Ishiba promised to engage in bipartisan discussions to enact sweeping tax reform.
The economic stimulus package is expected to be approved before the end of 2024. According to a report from Bloomberg, the proposed tax reform measures include changes to income tax, corporate taxes and cryptocurrency taxes. This represents a shift in the governing party’s policy, which had previously called for higher taxes.
Pundits have described the situation as being “stuck between a rock and a hard place.”
$100K Bitcoin next? No euphoria ‘encouraging’ as BTC price breaks new highs
Bitcoin analysts and traders are optimistic that BTC’s price will hit the coveted $100,000 mark despite a “lukewarm” social media response to the latest ATHs.
Bitcoin (BTC) continues its march toward the coveted $100,000 mark after setting another all-time high above $94,000 on Nov. 19.
Even though this move to new record highs did not spark “euphoria,” analysts say it is necessary for pushing BTC’s price higher.
BTC/USD daily chart. Source: TradingView
DCG’s Barry Silbert unveils decentralized AI venture to fund Bittensor projects
DCG’s Barry Silbert launches Yuma, a decentralized AI venture, to develop projects for Bittensor’s innovative AI network.
The post DCG’s Barry Silbert unveils decentralized AI venture to fund Bittensor projects appeared first on Crypto Briefing.
Donald Trump’s Media Company in Advanced Talks To Buy Crypto Trading Exchange Bakkt: Report
A social media company that’s majority-owned by US President-elect Donald Trump is reportedly in talks to acquire Bakkt, a crypto trading and custody firm backed by Intercontinental Exchange Inc. The Financial Times, citing “two people with knowledge of the talks,” reports that the Trump Media and Technology Group, which operates Truth Social, a microblogging platform, […]
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Former FTX Executive Gary Wang Avoids Prison Time After Building Crypto Surveillance Tools for Government: Report
The former chief technology officer of disgraced crypto exchange FTX is dodging prison time by cooperating with the US government. According to a report from Reuters, Wang – a computer programmer who unwittingly wrote the code that allowed former FTX CEO Sam Bankman-Fried to steal billions of dollars from customers – is being spared prison […]
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‘Cowardly Path’ Leads to Redemption: Former FTX Exec Gary Wang Skates on Prison Sentence
Inner City Press reports that the former FTX executive Gary Wang, who admitted to creating the code enabling Sam Bankman-Fried to misappropriate $8 billion from the now-bankrupt cryptocurrency exchange, has avoided prison. Crypto Whistleblower or Accomplice? FTX’s Gary Wang Avoids Prison Reuters further reports that U.S. District Judge Lewis Kaplan in Manhattan acknowledged Gary Wang’s […]Fueling KYVE’s Expansion Era – A New Age of Interoperable Data Opportunities for All
November 20, 2024 – Frankfurt, Germany KYVE is entering its expansion era, introducing an enhanced web app packed with new features and collaborations to support users and unlock multi-network potential. From experienced developers to crypto newcomers, the platform aims to make it easier for users to jump in, contribute and benefit as part of KYVE’s […]
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PlayBlock Rockets to Number Eight Globally in Blockchain Transactions and Turnover Following DappRadar Listing
November 20, 2024 – Ramat Gan, Israel UPvsDOWN prediction platform leads the way as PlayBlock takes center stage in the blockchain world. Playnance proudly announces the official listing of its groundbreaking blockchain, PlayBlock, on DappRadar, the premier tracking platform for DApps (decentralized applications). Just weeks after its launch, PlayBlock has achieved the remarkable milestone of […]
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Trump team considers creating first White House crypto role
Trump’s team is considering a new White House crypto role to manage policy and regulation with direct presidential access.
The post Trump team considers creating first White House crypto role appeared first on Crypto Briefing.
First Digital’s FDUSD Stablecoin Is Officially Live on Sui
November 20, 2024 – Grand Cayman, Cayman Islands FDUSD becomes the second native stablecoin on Sui following USDC’s landmark deployment in early October 2024. Sui – the layer-one blockchain offering industry-leading performance and infinite horizontal scaling – and First Digital Labs – the creator of one of the world’s largest stablecoins, FDUSD – today announced […]
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Bitcoin Smashes Another All-Time High as Crypto Analyst Says ‘Breakout Confirmed’ for BTC
One widely followed crypto analyst says that Bitcoin (BTC) is convincingly breaking out and on track to have a series of big rallies after printing a new all-time high Wednesday of about $94,800. Pseudonymous crypto analyst Rekt Capital tells his 505,900 followers on the social media platform X that Bitcoin appears to have entered the […]
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Coinbase Wallet launches USDC rewards with 4.7% APY
Coinbase Wallet’s USDC rewards program could enhance global crypto adoption by offering competitive yields and seamless cross-border transactions.
The post Coinbase Wallet launches USDC rewards with 4.7% APY appeared first on Crypto Briefing.
Arkham to debut spot trading platform, competes with Coinbase, Crypto.com
Arkham’s entry into spot trading could intensify competition, potentially driving innovation and regulatory scrutiny in the crypto market.
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Acurx Pharmaceuticals Allocates $1 Million to Bitcoin as Reserve Asset, Shares Slide 26%
Acurx Pharmaceuticals Inc. has decided to take a bold financial step, pledging up to $1 million toward bitcoin (BTC) as a treasury reserve asset. This move signals a pivot in financial strategy for the late-stage biopharmaceutical company. Biopharma Firm Acurx Adopts Bitcoin for Treasury Strategy The board of directors at Acurx Pharmaceuticals (NASDAQ: ACXP) greenlit […]TikTok meme coin CHILLGUY hits $500 million market cap
TikTok meme token CHILLGUY hits $500M market cap in five days, with a 20,000% surge driven by viral social media adoption.
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Crypto has 4 years to grow so big ‘no one can shut it down’: Kain Warwick, Infinex
Kain Warwick also admits the Infinex Patron NFT sale did not go as planned, with just 2% of users buying the most liquid NFT tier.
Kain Warwick, the Australian behind decentralized perps protocol Synthetix and now UX layer Infinex, says the clock is now ticking for crypto to grow fast enough to reach the point where no one could ever try to shut it down again.
Speaking to Magazine at Nears Redacted conference in Bangkok, Warwick says the crypto industry specifically his latest venture, Infinex has four years to break into the mainstream.
If we can get mass adoption in the next four years, which I think is achievable, and bring everyone onchain, and we have hundreds of millions or even billions of users, the jobs done you cant shut it down.
Infinex is Warwicks bid at solving the risks that come with centralized platforms seen in the multibillion-dollar implosions of FTX, BlockFi, Celsius and Voyager Digital without sacrificing the normie-friendly features many of these platforms once offered.
Prediction markets could hold the key to seeing the future, say observers
Predictions markets had an edge on the polls in the 2024 US election, but are they actually helping pundits predict the future?
The decentralized betting market platform Polymarket left political commentators around the world stunned by its accuracy in sourcing information about the United States presidential election race between President-elect Donald Trump and Vice President Kamala Harris.
Now several commentators are backing the idea that prediction markets and the concept of “information finance” could be the next leap forward in humanity’s ability to make more efficient and educated guesses about the outcome of global events.
In a Nov. 9 blog post, Ethereum co-founder Vitalik Buterin outlines the concept of information finance, betting on the fact that betting markets are actually much more than just speculation engines.