Author: Max Bauer
Bitcoin’s price has experienced a remarkable 10% increase over the past week, briefly surpassing $68,200 on Friday, marking its highest level since late July. Despite its volatile performance in recent months, industry experts are increasingly optimistic about Bitcoin’s potential for a substantial price surge before the year’s end. Initially, the upcoming US presidential elections were seen as a source of uncertainty for Bitcoin’s price. However, recent analysis suggests that a victory by either Donald Trump or Kamala Harris could prove favorable for the cryptocurrency. Alex Thorn, head of research at Galaxy Digital, noted that “a Trump victory is extremely likely…
Federal Reserve Governor Christopher Waller today offered a nuanced perspective on decentralized finance (DeFi), suggesting that while it presents innovative technologies, it is largely complementary to, rather than a replacement for, traditional centralized finance. His remarks, delivered during a recent speech, highlighted both the potential benefits and risks associated with DeFi innovations, particularly stablecoins. FED’s Waller Says Stablecoins Are Beneficial Governor Waller acknowledged the significant attention DeFi has garnered in recent years and its potential to reshape financial market transactions. He noted that some believe DeFi will completely replace traditional systems, while others see it as an expansion of existing…
Worldcoin, the controversial cryptocurrency startup co-founded by Sam Altman, has announced a significant rebranding. The company has dropped the “coin” from its name, officially becoming “World.” This shift coincides with the launch of its next-generation iris-scanning “Orb” and other tools. The decision to drop “coin” from its name suggests a potential shift in focus for the company, which initially gained notoriety for its unique proof-of-personhood system involving iris scanning. While the founders have always maintained that iris scanning was not a prerequisite for obtaining Worldcoins, the rebranding could signal a broader vision beyond cryptocurrency. In a press conference, World CEO…
Cryptocurrency lawyer MetaLawMan has raised questions about the status of the Ripple-SEC appeal, suggesting that the Securities and Exchange Commission (SEC) may have missed a crucial deadline. Did the SEC Forget the Important Deadline? In a statement, MetaLawMan pointed out that the deadline for the SEC to file a Form C, a necessary document for proceeding with the appeal, passed at midnight on October 16th. The lawyer speculated that this could be due to a mistake by the SEC, a technical glitch, a decision to abandon the appeal, or a potential agreement with Ripple to drop both appeals. While MetaLawMan…
The Montenegrin Ministry of Justice has announced that a decision on the extradition of Do Kwon, the founder of Terraform Labs, has been made and will be publicly announced by the end of the week. Do Kwon, who was arrested in Podgorica in March 2023, faces indictments in South Korea, Singapore, and the United States, all of which have requested his extradition from Montenegro. Interpol issued a red warrant for him in September 2023 due to his involvement in the May 2022 collapse of the $40 billion Terra Luna and Terra cryptocurrencies. In September 2023, the Supreme Court of Montenegro…
Tesla, the electric vehicle giant, has made a significant move in its Bitcoin holdings. Data from Arkham revealed that the company’s Bitcoin wallet saw unusual activity on Wednesday, with funds being transferred to a new wallet. While initial concerns about a large-scale sale were quickly alleviated, the reason behind this transfer remains shrouded in mystery. Though neither Tesla nor Elon Musk has publicly commented on the move, the crypto community has been rife with speculation. Possible explanations range from compliance and internal audit requirements to simple wallet management or a more strategic reorganization of funds. CryptoQuant community analyst Maartunn offered…
Federal authorities have arrested an Alabama man in connection with a January 2024 cyberattack that targeted the U.S. Securities and Exchange Commission’s (SEC) Twitter account. Eric Council Jr., 25, of Athens, Alabama, was taken into custody this morning and is facing charges of conspiracy to commit aggravated identity theft and access device fraud. Hacker Searched Google for How to Know If You’re Being Investigated by the FBI According to the indictment, Council and his co-conspirators executed a SIM swap attack to gain unauthorized control of the @SECGov Twitter account. By impersonating the SEC Chair, they posted a fake announcement claiming…
Cryptocurrency analysis firm QCP Capital has issued a positive outlook for Bitcoin (BTC), citing strong spot demand, increased option activity, and growing inflows into Bitcoin spot ETFs. QCP Capital Attributes Bitcoin’s Surge to Options In a recent statement, QCP Capital noted that BTC rallied 2.20% on Wednesday, briefly reclaiming the $68,000 level before settling around $67,000. The firm attributed this surge to heavy buying in long-dated options, indicating that investors are becoming more optimistic about Bitcoin’s prospects. Additionally, QCP Capital highlighted the continued inflows into Bitcoin spot ETFs, which totaled $456.90 million on Wednesday. This marks a four-day winning streak…
Bitcoin prices are experiencing a resurgence, approaching their all-time highs as investors anticipate a perfect storm of favorable conditions. The cryptocurrency’s value surged by nearly 3% on Wednesday, reaching $68,376 before settling slightly lower. Optimism is fueled by a combination of factors, including rising global liquidity, stimulus measures from China, and growing support for a regulatory framework in the United States. Analysts believe these elements could create a favorable environment for Bitcoin and other crypto assets. “After a period of price consolidation, we’re witnessing a convergence of factors that could drive Bitcoin prices significantly higher,” said Brett Munster of Blockforce…
Hong Kong’s Chief Executive has outlined an ambitious plan to establish a leading fintech ecosystem, with a particular focus on virtual assets, as revealed in Article 99 of the 2024 Policy Address. The government’s strategy encompasses a multi-pronged approach designed to solidify Hong Kong’s position as a global fintech hub. Central to the plan is the promotion of Central Bank Digital Currencies (CBDCs) for cross-border payments. The Hong Kong Monetary Authority (HKMA) is actively expanding the mBridge platform, testing and exploring new technologies to facilitate seamless cross-border trade settlements, and broadening participation from both public and private sectors. The government…