Author: Max Bauer
Matt Hougan, Chief Investment Officer at Bitwise, has made a bold prediction for Bitcoin’s future price, suggesting it could reach $100,000 to $200,000 or even higher. Hogan’s forecast is based on the surging demand for Bitcoin ETFs and the growing interest from both retail and institutional investors. Matt Hougan Thinks Bitcoin’s Price Growth Was Due to the ETFs In a recent interview, Hogan highlighted the significant increase in Bitcoin’s price since the beginning of the year, driven in part by the launch of several spot Bitcoin ETFs. He emphasized that the demand for these ETFs is coming from a diverse…
Howard Lutnick, financial services firm Cantor Fitzgerald CEO , has likened Bitcoin to gold and oil, arguing that it should be regulated as a commodity. In an interview, Lutnick expressed his frustration with the lack of understanding and regulation surrounding Bitcoin and other cryptocurrencies. Cantor Fitzgerald CEO: “Regulation of Bitcoin Should be According to Commodity Laws” “When you truly understand Bitcoin, it’s hard to see it any other way,” Lutnick stated, saying the need for a more commodity-like approach to regulating the cryptocurrency. He suggested that the regulatory landscape for cryptocurrencies would eventually align with that of commodities and equities,…
A phishing scam disguised as a legitimate wallet app has defrauded cryptocurrency users out of a significant sum. The malicious app, available on the Google Play Store for four months, targeted unsuspecting users by posing as WalletConnect, a popular Web3 protocol. Fake App on Google Play Resulted in $70,000 Loss The fake app directed users to a fraudulent website where they were tricked into authorizing transactions, granting the scammers access to their cryptocurrency funds. Despite being downloaded 10,000 times, only 150 individuals fell victim to the scam, according to a report by Checkpoint Research. The real WalletConnect is a secure…
Cryptocurrency analytics firm Santiment has highlighted a surge in social media chatter surrounding certain altcoins, suggesting that speculative fervor is driving the market. Among the top trending projects are Toncoin ($TON), Shiba Inu ($SHIB), and Pepe ($PEPE). Toncoin has garnered attention due to its association with the Hamster Kombat airdrop. The project’s discussions have seen a significant uptick, reflecting growing interest. According to Santiment, Shiba Inu, another altcoin making waves, has been fueled by discussions around its cryptocurrency and associated projects like Shibarium. The community is buzzing with optimism about a potential 33,000% increase in the burn rate, which has…
Changpeng Zhao, the founder of cryptocurrency exchange Binance, has been released from federal custody after serving a four-month sentence for failing to implement adequate anti-money laundering measures. After CZ’s Release, Richard Teng Will Continue to Manage Binance Zhao, 47, pleaded guilty in November to charges related to Binance’s role in facilitating illicit activities by cybercriminals and terrorist groups. The exchange, which processes trillions of dollars in trades annually, paid a $4.3 billion settlement and agreed to several conditions, including Zhao’s resignation as CEO. Despite the legal challenges, Binance remains a dominant force in the cryptocurrency market. Zhao’s net worth is…
Bitcoin experienced a significant surge, reaching $66,000 on Friday, following the release of lower-than-expected inflation data in the United States. This positive economic indicator has boosted investor sentiment and fueled inflows into Bitcoin ETFs. Number of Factors Played a Role in Recent Bitcoin Rally The cryptocurrency market has seen a broader uptrend, with Ethereum also gaining momentum. The recent peak of $66,500 for Bitcoin marks its highest level since late July. Several factors have contributed to BTC’s rise. The Personal Consumption Expenditures Price Index (PCE), a key measure of inflation, declined to 2.2% in August from 2.5% in July. This…
The Securities and Exchange Commission (SEC) has filed charges against Mango DAO, Blockworks Foundation, and Mango Labs LLC for engaging in unregistered offers and sales of crypto assets, as well as unregistered broker activities. According to the SEC’s complaint, Mango DAO and Blockworks Foundation raised over $70 million from the sale of MNGO tokens, the governance tokens of the Mango Markets platform, to hundreds of investors worldwide. Blockworks Foundation and Mango Labs are also accused of operating as unregistered brokers by facilitating securities transactions on the platform. The SEC alleges that Mango Markets violated federal securities laws by failing to…
The cryptocurrency industry has witnessed a concerning trend in recent months, with an increase in offline robberies targeting prominent figures in the crypto community. While online hacks have seen a significant decline, physical threats and violence have become a growing concern. ZachXBT, a security researcher, has warned of a rise in cryptocurrency thefts across Western Europe, where individuals have been targeted at gunpoint for their cryptocurrency holdings. Hong Kong and Singapore have also experienced similar attacks. Online Cryptocurrency Thefts Decline However, the landscape of cybercrime within the crypto industry has shown positive developments. According to data from Immunefi, losses from…
Coinbase Research has released a new report expressing a bullish outlook for the cryptocurrency market in the coming months. The firm cites the recent strengthening correlation between cryptocurrency and stock markets, driven by global easing campaigns, as a positive indicator. Ethereum (ETH) has exhibited impressive growth, outperforming Bitcoin (BTC) by 8% in the past week. Altcoins have also seen renewed investor interest, with gaming, scaling solutions, and Layer-0 sectors leading the way. Coinbase Research Analysts Think October Will Be Favorable for Cryptocurrencies According to the report, key market metrics remain healthy, indicating a robust market environment. Funding rates are stable,…
Decentralized derivatives trading platform dYdX has announced plans to shut down dYdx v3 version on October 28, 2024. The platform will remain operational until the closing date, allowing users to close positions and withdraw USDC funds. Reason for dYdX v3 to Sunset is the Newest v4 Version dYdX said that user funds remain secure and can be withdrawn indefinitely from smart contracts. The closure only impacts v3 users, while dYdX Chain (v4) and other versions remain unaffected. The company will focus its resources on developing the Unlimited version, scheduled for launch this fall. The decision to wind down v3 activities…