Author: Max Bauer

The FTX estate is set to auction off a significant portion of its Worldcoin (WLD) tokens at a substantial discount, according to multiple sources familiar with the matter. The sale is part of the estate’s ongoing efforts to recover funds for creditors. Lockup Periods are the Reason for the Discounted Sale of Worldcoin Tokens The estate is offering 22.3 million WLD tokens, currently valued at approximately $37.7 million, at a discount that could range from 40% to 75% off the current spot market price. Interested buyers have until 8 PM ET on Wednesday to submit their bids. The WLD tokens…

Tether, the world’s largest stablecoin by market capitalization, has found significant utility beyond traditional cryptocurrency trading, according to its CEO, Paolo Ardoino. In an interview with Bullish CEO Tom Farley, Ardoino emphasized that USDT has become a crucial digital dollar in countries facing economic instability and high inflation rates. “USDT Offers a Stable Option in High Inflation Regions” While USDT initially served as a bridge between fiat currency and cryptocurrencies, its applications have evolved to address real-world challenges. In regions like Argentina and Turkey, where local currencies have experienced volatility, USDT has offered a stable alternative for storing and transferring…

The U.S. Securities and Exchange Commission (SEC) is facing a looming deadline to decide whether to appeal a landmark ruling in the Ripple case. According to Fox Business, the agency must make its decision by October 7. SEC Likely to Appeal in Ripple Case The July 2023 ruling by U.S. District Judge Analisa Torres found that only a portion of Ripple’s sales of XRP crypto tokens violated securities laws. This decision has been met with mixed reactions, with some legal experts praising it as a victory for the crypto industry while others criticizing it for undermining traditional securities law principles.…

A 21-year-old Indiana man has admitted to his involvement in a cybercrime scheme that resulted in the theft of over $37 million in cryptocurrency. Evan Frederick Light, of Lebanon, Indiana, pleaded guilty on Monday, September 30, to charges of conspiracy to commit wire fraud and conspiracy to launder monetary instruments. U.S. Justice Department Says It’s Determined to Crack Down on Cryptocurrency Theft According to federal prosecutors, Light was part of a group that hacked into an investment holdings company in Sioux Falls, South Dakota, in February 2022. The hackers stole personal information from hundreds of customers and then used that…

There are unconfirmed reports circulating in the cryptocurrency community that Bitwise, a prominent digital asset investment firm, has registered in Delaware for an XRP exchange-traded fund (ETF). While this information has not been officially confirmed by Bitwise or regulatory authorities, it has gained traction following a statement by journalist Eleanor Terrett, known for her coverage of XRP news, on the social media platform X. Terrett confirmed the registration without providing further details. It’s worth noting that in the past, similar claims about XRP ETF registrations have proven to be false or misleading. Given the history of false or misleading information…

Cryptocurrencies took a significant hit on Tuesday, with Ethereum briefly dipping below $2,500 and Bitcoin falling below $62,000. The decline was fueled by a combination of geopolitical tensions and economic uncertainty. Iran-Israel Conflict Caused Mild Downturn in Bitcoin and Other Cryptos The immediate catalyst for the market downturn was the firing of missiles from Iran into Israel. While investors initially anticipated a relatively muted response from Iran, the potential for a major escalation in the Middle East caused widespread concern. Lekker Capital founder Quinn Thompson explained that markets are forward-looking and tend to price in potential risks. “Even if there…

A recent surge in stablecoin market capitalization could be a precursor to a potential uptrend in bitcoin and other major cryptocurrencies, according to a crypto analyst. Julio Moreno, Head of Research at CryptoQuant, told Cointelegraph that the increasing market cap of stablecoins is a critical factor in driving cryptocurrency price growth, as they provide liquidity to crypto markets. “Stablecoins on exchanges have grown, with USDT reserves on centralized exchanges also reaching a record-high of $22.5 billion so far in 2024,” Moreno said, citing data from CryptoQuant. The analyst pointed to data that showed the stablecoin market capitalization has reached…

Iran allegedly launched missiles towards Israel, prompting a swift response from global markets and political leaders. According to eyewitness reports, a missile was intercepted over Jordanian airspace as it approached Jerusalem. Explosions were also heard in the city, heightening tensions across the region. Israel’s military confirmed that sirens were sounded across the country, urging civilians to enter air-raid shelters. Meanwhile, Iranian state television hinted at an official statement from the Revolutionary Guard, with speculation mounting over further military action. In the United States, President Joe Biden convened an emergency meeting with Vice President Kamala Harris and the national security team…

Fenbushi Capital, a prominent Chinese venture capital firm focused on blockchain and cryptocurrency investments, has sold $5.14 million in altcoins, according to blockchain analytics firm Lookonchain. Here is the Altcoins the Chinese VC Sold The sale, which occurred three hours ago, involved a variety of tokens, including: However, the sale appears to have resulted in significant losses for Fenbushi Capital. The firm lost US$2.44 million (-90%) on SUSHI, US$2.27 million (-82%) on COMP, US$1.53 million (-42%) on UNI, and US$499,000 (-15%) on AAVE. In addition to Fenbushi Capital’s sale, a large Ethereum whale has also been active in the altcoins.…

Binance, the world’s leading cryptocurrency exchange, announced today that it has been officially registered with the Argentine National Securities Commission (CNV) as a Virtual Asset Service Provider (VASP). This marks company’s 20th regulatory milestone globally and expands its services to users in Argentina. Binance Released a Statement on the Issue on its Official Blog Page With this registration, company’s website and app are now fully accessible to Argentine residents, providing them with access to a wide range of cryptocurrency services, including trading, investing, and custody. “This achievement underscores Binance’s commitment to compliance and forward-looking regulation,” said company’s in an official…