The entity that drained FTX’s wallets after the fallen exchange filed for bankruptcy continues to move around the funds. Although the Bahamas’ securities regulator claimed it siphoned the funds, the suspicious transactions now are questioning this narrative. The wallet designated as the FTX drainer started moving funds during the weekend, as CryptoPotato reported. A new...Read More
American billionaire venture capitalist Tim Draper has reiterated his bullish support for Bitcoin despite the crypto winter intensified by the sudden crash of the FTX exchange. Draper predicted last June, during the bull market, that the leading crypto asset would reach $250,000 by the end of 2022. However, his prediction is less likely to happen...Read More
The last two weeks have been a nightmare for the entire crypto space as crypto investors were forced to liquidate their massive holdings in FUD after Sam Bankman-Fried’s FTX collapsed. The FTX meltdown has raised concerns regarding Bitcoin-tied assets and ETFs as institutional investors continue to dump their positions. Holdings of Grayscale’s Bitcoin Trust (GBTC)...Read More
Despite the continuous turbulence in the cryptocurrency market, Bitcoin is largely unaltered and has been consolidating between $15,800 and $17,200 on Friday. Bitcoin Trades Marginally as It Facing Rejection at $17K Since its price declined on November 9, when it was around $17K. At present, the immediate resistance is found at the $16,950 level. On...Read More
El Salvador’s president took it to Twitter to announce that the country will resume its BTC buying spree as of tomorrow. Interestingly, Tron’s Justin Sun quickly followed up, saying his blockchain project will do the same. Although 2022 has been a rough year for the cryptocurrency market, with many inside and outside factors pushing prices...Read More
The crash of the popular crypto exchange FTX has become an embarrassment for the entire crypto space as it failed to build trust among users and provide properly secured infrastructure. FTX’s demise has undoubtedly thrashed several investors with a loss of billions of dollars and forced miners to give up their mining journey as their...Read More
The crypto market appears to be slightly recovering as the major cryptocurrencies are flashing green. However, these large cap cryptocurrencies are still way behind their key levels. The first born cryptocurrency, Bitcoin is trading just above $16,500 while Ethereum has failed to trade above $1300 range. At the time of writing, Bitcoin is selling at...Read More
Ark Invest – the technology-focused investment firm founded by Cathie Wood – has aped into Grayscale’s Bitcoin Trust (GBTC) after the world-leading digital asset fund marked another record-low discount last week. Ark Investment Management bought 315,000 GBTC shares worth roughly $2.8 million on Monday for its ARK Next Generation Internet exchange-traded fund (ARKW). Ark’s purchase...Read More
The moves are hardly surprising considering that FTX, the world’s second-largest exchange, was considered pretty much bulletproof. The collapse of the exchange proves that it was not too big to fail, especially if it didn’t have the reserves to cover the bank run that occurred. Over the past week or so, Bitcoin investors have been...Read More
With Bitcoin having recently touched its lowest price point in 2022, some Bitcoin enthusiasts feel that now is a good time to buy. One of them is Edward Snowden. The ex-NSA contractor said on Monday that he is feeling the urge to “scale back in” to Bitcoin for “the first time in a while.” In...Read More
The world’s richest man has once again shared his thoughts on the primary cryptocurrency by means of total market capitalization. Tesla’s CEO, as well as Twitter’s new owner, reiterated his stance that Bitcoin will make it. Bitcoin will make it, but it might be a long winter. That’s what Elon Musk had to say about...Read More
The prominent bitcoin bull – Michael Saylor – opined that the FTX crisis will have certain benefits on bitcoin. In his view, the turbulence will eliminate thousands of useless digital assets while the primary cryptocurrency and a “handful” of other coins will be the only survivors. ‘Bitcoin Will be the Winner’ In a recent interview...Read More
After the market’s leading cryptocurrency hit two-year lows due to FTX collapse and Sam Bankman-Fried dramatic fall, cryptocurrency analyst Tone Vays is outlining the long-term bull case for Bitcoin (BTC). Vays has said that even if Bitcoin drops to about $11,000, it might still achieve a new all-time high of $100,000 next year. The trader...Read More
After the FTX collapse, the markets took up the prevailing situation and underwent a notable recovery during the previous day’s trade. The crypto market cap also almost reached the $900 billion mark and in the time when a breakout was close to being accomplished, the rounds of FTX being hacked circulated within the space. The...Read More
The President of El Salvador – Nayib Bukele – reportedly dismissed the arising rumors that his country holds its bitcoin stash on the battered cryptocurrency exchange FTX. The information was revealed by Binance’s CEO – Changpeng Zhao – who said he discussed the matter with the political leader. The Central American nation became the first...Read More
JPMorgan’s team, led by Nikolaos Panigirtzoglou, predicted that the price of bitcoin could drop to $13,000 due to the turmoil following the FTX collapse. The cost to produce BTC has also fallen considerably, which could be another reason for the asset’s potential downfall. A Grim Forecast An analysis team of the Wall Street bank estimated...Read More
One of the leading crypto miners – Marathon Digital Holdings – recorded a net loss of $75.4 million, or $0.65 per share, during the third quarter of the year due to decreased production and the declining price of bitcoin. Still, the company rounded up its total stash to 11,285 BTC. Data shows that only the...Read More
The year 2022 is not lesser than a roller coaster ride which was experienced by most crypto assets. Additionally, the advancement of the Ripple vs SEC lawsuit also is agonising for the XRPArmy, as the agency is trying numerous ways to drag the case longer. Meanwhile, the possibility of Ripple losing the case is emerging,...Read More
The hyperinflation, the collapse of the local banking system, and the significant depreciation of the currency prompted numerous Lebanese residents to embrace cryptocurrencies, including stablecoins. Some locals have also focused on bitcoin mining since they can use cheap hydropower from rivers and generate “fresh dollars.” What Triggered the Collapse? Lebanon, considered one of the most...Read More
In the early hours today, the star cryptocurrency, Bitcoin, fluctuated between $21,000 and $20,000 before settling down around $20,700. Before this downward move, the asset had even managed to trade above the crucial mark of $21,200 and hit a high of $21,469. At the time of writing, Bitcoin has lost 2.32% in the last 24hrs...Read More
The United States Department of Justice (DoJ) announced the historic seizure of over $3 billion worth of bitcoin from a fraudster who allegedly scammed the defunct online darknet marketplace Silk Road and stole more than 50,000 bitcoin. The defendant pled guilty to a wire fraud crime committed a decade ago and could face up to...Read More
Bitcoin prices were deeply impacted by the resurgence of the bearish market trend that caused the price to plunge by more than 3.6% from the monthly highs. Meanwhile, the ongoing tussle between Binance CEO, Changpeng Zhao (CZ) and FTX CEO Sam Bankman Fried (SBF) has led the bearish wave within the crypto space. While some...Read More
The largest BTC corporate holder – MicroStrategy – posted a minimal impairment charge of $727,000 on its bitcoin ownings in Q3, 2022 due to the relatively stable price of the asset during that period. The company purchased additional 301 coins between July and October, rounding up its total holdings to 130,000 BTC. The Q3 Results...Read More
The popular Instagram influencer Jebara Igbara, also known as “Jay Manzini,” pleaded guilty to money laundering, wire fraud, and wire fraud conspiracy. He used the social media platform to promote various schemes to investors but, in fact, defrauded them with $8 million. In addition, Igbara told his followers he wanted to buy a huge amount...Read More
Investment giant Fidelity appears to finally be granting its retail investors access to Bitcoin and Ethereum trading. The $4.5 trillion asset manager has established an early access waitlist for users to trade both assets, bringing potential crypto access to 34 million investors. The service, titled Fidelity Crypto, will also provide investors with beginner-friendly educational resources...Read More
Money transfer services giant MoneyGram will now allow customers to trade and hold some major cryptocurrencies using the company’s mobile app. The move marks an expansion to MoneyGram’s native crypto support as it previously enabled users to buy and withdraw Bitcoin in the United States. According to a press release on Tuesday (November 1, 2022)....Read More
Yet another major North American Bitcoin miner is looking ill-prepared to pay off its debts before the end of the year. This time it’s Iris Energy – a sustainability-focused miner that recently revealed its monthly profits to be well under its interest payment obligations. Iris Energy’s Mining Margins The British Columbia-based firm published an update...Read More
After the recent v0.15.3. update to the Lightning Network, a critical security vulnerability was discovered by independent cybersecurity researchers that would potentially allow bad actors to stop lnd nodes from parsing transactions. A Lightning Network Daemon (lnd) is a full implementation of a Lightning Network Node, along with the services and plug-ins that allow it...Read More
In its ‘week on-chain’ report on Oct. 31, analytics provider Glassnode made a number of comparisons between the current Bitcoin market cycle bottom and those from previous bear markets. Last week’s relief rally appears to have fizzled out with a double-top rejection, as reported by CryptoPotato yesterday. Glassnode stated that the market was “hammering out...Read More
Today marks the 14th anniversary of the publication of the Bitcoin whitepaper. On this day in 2008, Satoshi Nakamoto released a nine-page document that began a financial revolution and birthed a trillion-dollar industry. On October 31, 2008, the pseudonymous Satoshi released the Bitcoin whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” to a cryptography mailing...Read More
