Author: Max Bauer
The cryptocurrency market experienced a volatile week, with Bitcoin (BTC) retesting the July high of $69,500 before retracing to find support around $65,000, according to analysis from QCP Capital. The firm suggests a consolidation pattern is forming. Despite the price fluctuations, institutional demand for Bitcoin remains strong. BTC ETF net inflows reached $997.7 million this week, marking the third consecutive week of positive flows. This sustained institutional interest underscores Bitcoin’s growing acceptance within traditional finance. Bitcoin’s dominance continues to climb, reaching 59.75% this week, while Ethereum (ETH) struggles against its counterpart. The ETH/BTC pair broke key support at 0.03850, sliding…
Bitcoin Core developer Peter Todd has denied claims that he is in hiding following accusations made in the recent HBO documentary “Money Electric: The Bitcoin Mystery” that he is Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Todd’s denial comes after a Wired article suggested he had gone into hiding following the documentary’s release. Todd appeared publicly at a Bitcoin conference in Lugano today, where a statue honoring Nakamoto was unveiled. He is scheduled to speak at five more international events in the coming weeks. This public presence directly contradicts the narrative of him being in hiding. The documentary, directed by…
According to Ryan Rasmussen, Research Director at Bitwise, four key catalysts could propel the cryptocurrency market to new heights. In a recent social media post, Rasmussen outlined these potential drivers, offering a bullish outlook for the future of digital assets. 1. US Election and Regulatory Progress: While uncertainty surrounding the upcoming US election weighs on market sentiment, Rasmussen points to the increased effectiveness of crypto lobbying efforts and bipartisan support in Congress. He anticipates that regardless of the election outcome, legislation favorable to the crypto industry is likely to pass, providing a more stable regulatory environment. 2. Interest Rate Cuts…
The cryptocurrency market continues its downward spiral, with altcoins bearing the brunt of the decline. On-chain data reveals significant Arbitrum (ARB) sales by two prominent market makers, Wintermute and GSR, adding to the bearish sentiment. Wintermute deposited 1.16 million ARB tokens, valued at approximately $2.10 million, onto the Binance exchange a few hours ago. Shortly after, GSR followed suit, transferring 4.71 million ARB, worth around $2.57 million, to the same exchange. These substantial moves come as the total cryptocurrency market capitalization has plummeted by 2.29% in the last day, reaching $2.27 trillion. The altcoin sector has been particularly hard hit,…
In two recent communications, Ethereum co-founder Vitalik Buterin has shed light on the future direction of the Ethereum protocol and addressed concerns regarding recent ETH sales. Buterin’s latest article, titled “Future Development of Ethereum Protocol (Part 5: The Purge),” focuses on tackling the growing complexity and storage requirements of the blockchain. He argues that the inherent nature of blockchain protocols is to expand over time, both in terms of stored historical data and the complexity of its functions. This poses a significant challenge to the long-term sustainability of the network. The solution, according to Buterin, lies in implementing a counter-pressure…
A fake application mimicking the popular decentralized finance (DeFi) platform Curve Finance has gained significant traction on the Apple App Store, ranking among the top 100 financial apps on October 26, according to a report from Cointelegraph. Despite multiple users flagging the app as a scam, it remains popular across regions including Europe, Latin America, New Zealand, the United States, and Southeast Asia, putting unsuspecting users at risk. The fraudulent app, named “Curve defi v3,” was developed by an entity listed as “Tao Duong Van.” It has misled users by replicating the official Curve Finance logo and functionality, creating a…
Ripple CEO Brad Garlinghouse has issued a stark warning about the potential fallout from the SEC’s ongoing lawsuit against his company, predicting a “shit show” for the crypto industry if the regulator prevails on a key legal argument. His comments came during a recent interview with Anthony Pompliano, also known as Pomp, where Garlinghouse addressed Ripple’s recent cross-appeal and criticized the SEC’s handling of Bitcoin ETFs. The core of the dispute revolves around the definition of an “investment contract” under the Securities Act. Ripple’s cross-appeal seeks clarity on whether such a contract requires an explicit, formal agreement. Garlinghouse argued that…
Tether, the world’s largest stablecoin issuer, has vehemently denied a recent report by the Wall Street Journal (WSJ) alleging that the company is under investigation by US federal authorities. The company also pushed back against speculation that the US Treasury Department may impose sanctions on Tether. In a statement, Tether expressed strong disapproval of the WSJ’s reporting, calling it “wildly irresponsible” and based on “pure rank speculation.” The company emphasized that no authorities have publicly confirmed any such investigation, and the article lacks named sources to substantiate its claims. Tether highlighted its long-standing cooperation with law enforcement agencies in combating…
A recent series of cryptocurrency transfers involving a Bitfinex hacker wallet seized by the US government has sparked speculation and confusion within the crypto community. Initially, approximately $20 million worth of stablecoins were moved from the seized wallet to an unidentified address, then converted to Ethereum and transferred to an unknown exchange. This led many to believe that a hack may have occurred, especially given the wallet’s history. Crypto sleuth ZachXBT even hinted at malicious intent behind the transfers. However, a significant portion of these funds, amounting to $19.3 million, was subsequently returned to US government-controlled wallets. This development suggested…
A French trader has placed a staggering $45 million bet on Donald Trump winning the upcoming US presidential election, according to an investigation by crypto prediction market platform Polymarket. The revelation follows concerns about potential market manipulation due to several large bets favoring a Republican victory. Polymarket, which prohibits US users, confirmed the French trader’s involvement after investigating several substantial accounts backing Trump. A company spokesperson stated on Thursday that their investigation revealed the individuals behind these accounts possess “extensive trading experience and financial services backgrounds.” Millions of dollars were collectively wagered by these accounts in support of a Republican…