Features Crypto News by Thebittimes.Com

Aug 31, 2023 at 07:51 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, Polygon (MATIC) price has been rising but is encountering resistance at the $0.65 high or the 21-day line SMA. Long-term forecast of the Polygon price: bearish The upward momentum was rejected on August 29 at a high of $0.65. The altcoin has fallen below the support level of $0.60. The current support level of $0.60 held in the previous price action. If the bulls fail to regain the previous support at $0.60 or the 21-day line SMA, MATIC will fall and regain the...

Worldcoin’s World ID saw a record 9,500 Orb verifications in Argentina in a day. During the frenzy, World App topped WhatsApp and TikTok on the Argentine App Store. Co-founder Alex Blania claims Argentina is one of the most forward-thinking nations in the crypto sphere. In a recent statement, Worldcoin, the leading identity and financial network, recounted its success in its digital identity project, particularly on Argentinian soil. The Worldcoin team revealed that Argentina demonstrated its status as a global hub for crypto adoption. Specifically, the team disclosed that the demand for World ID within Argentina set a remarkable record for Orb verifications. It said 9,500 people signed up in a single day this month. In numerical terms, it implies one Argentinian gets verified every 9 seconds. Argentina is one of the world’s leading countries for blockchain innovation & crypto adoption. That reputation was reinforced recently, as demand for Worl...

Gemini, a crypto exchange led by the Winklevoss twins, opposed the bankruptcy plan by Genesis and Digital Currency Group (DCG). Gemini‘s lawyers explained that the bankruptcy plan lacks enough details and guarantees for some of the largest debtors. The Gemini’s filing stated that the debtors revealed an agreement in principle between the Committee, DCG, and them. However, it lacks the required details and remains subject to definitive documentation. You might also like: DCG and Genesis reach landmark settlement over bankruptcy Genesis filed for Chapter 11 bankruptcy protection in the Southern District of New York’s bankruptcy court. The company’s interim CEO, Derar Islim, disclosed that Genesis had accumulated $5.1 billion in liabilities before pausing withdrawals due to its exposure to the FTX collapse. Alongside Genesis Global Capital LLC, two other entities, Genesis Global Holdco (the parent company) and Genesis Asia Pacific (another lending ...

Bitcoin Lightning Network liquid staking protocol Stroom recently raised $3.5 million. The ‘oversubscribed’ seed funding round was led by Berlin-based crypto investment firm Greenfield. The venture arm of Ankr, Mission Street, provided strategic support. Other venture capital firms and angel investors like Lemniscap, No Limit Holdings, and Cogitent Venture also took part in the proceedings. The funds amassed will be used to expand the team and launch Bitcoin “liquid staking” on the Lightning network. Stroom will also release an Ethereum-based wrapped token, lnBTC. The Lightning Network is a layer-2 solution built on top of the Bitcoin blockchain. The network fosters fast and cheap transactions. Liquid staking protocols help users fetch staking rewards. On Stroom, users can leverage their Bitcoin capital on both the Lightning Network and Ethereum. By depositing Bitcoin on the L2 network, users can earn routing fees from payments made on Lightning. lnBTC will ...

The Republican candidate also pledged to rescind all federal regulations that fail the Supreme Court’s major questions doctrine test in the West Virginia vs. EPA case — a potentially positive for crypto. United States presidential candidate Vivek Ramaswamy has lauded Grayscale’s recent victory over the federal securities regulator, arguing the decision will help keep Bitcoin and blockchain innovation from going overseas. In an Aug. 30 post on X (formerly Twitter) the pro-Bitcoin Republican candidate took shot at a “shadow” U.S. government, pointing the blame towards the “unlawful rogue behaviors of “3-letter government agencies” — presumably the Securities and Exchange Commission. Ramaswamy said this has led to the U.S. courts to serve as a last line of defense to help keep cryptocurrency innovators in the country, adding that it shouldn’t have reached the courts in the first place. “This decision is strong and clears a path to keep Bitcoin & blockchain innovation in the U.S. ...

Trading volume in the crypto market grew by over 136% in the last 24 hours. Bitcoin (BTC) led the recent market rally, but some altcoins have stolen the spotlight. U.S. Court of Appeals sided with Grayscale Investments in its legal dispute against SEC. The global crypto market’s trading volume is up significantly in the last 24 hours by over 136%. According to data from the market tracking platform CoinMarketCap, crypto traders bought and sold over $56.26 billion in the past day. CoinMarketCap’s first page shows most coins trading in the green. While Bitcoin (BTC) led the recent market rally, some altcoins have stolen the spotlight from Bitcoin. Bitcoin grew only 5.59% in the last 24 hours. However, altcoins such as Stacks (STX), Toncoin (TON), and Bitcoin Cash (BCH) saw double digital gains. In particular, STX saw 18.09% growth under a 24-hour window, putting its price at $0.5299. Traders exchanged $210,202,148 of STX in the same period. Similarly, T...

Tether, a company behind USDT stablecoin, has closed a partnership with the Bahamas-based bank Britannia. Tether has included the Bahamas-based bank as a dollar transfer processor on its platform. The partnership between both entities will allow Tether to expand its regional presence. It’s unclear when both entities started collaborating, but the bank became the third entity in the country to work with Tether. You might also like: Tether discontinues USDT support on Bitcoin, Kusama, and Bitcoin Cash Britannia Bank is one of the most important banks in the Bahamas, established in 1985. According to its official website, it has arms in the Bahamas, Switzerland, and UK.  Tether’s issues due to lack of transparency Tether has faced recent problems related to its transparency and reserve backing. For instance, it was accused of not providing sufficient evidence to prove that fiat currency fully backs its reserves. One of the significant issues raised against Tethe...

Play-for-Gold Web3 game Golden Egg Wonderland gets a beta update with tons of new features and a comprehensive NFT economy. Web3 game Golden Egg Wonderland received a major update with new features, in-game characters and a way to exchange Golden Egg NFTs for physical golden eggs. Web3 gaming has become one of the most popular sectors of the blockchain ecosystem, providing a medium for other blockchain-based technologies, such as nonfungible tokens (NFTs) and decentralized finance (DeFi), to proliferate as well. Attracting more than one-third of the total blockchain activity, the Web3 gaming space has spawned numerous interesting innovations over the last couple of years. The most prominent trend within Web3 gaming turned out to be play-to-earn (P2E), where players can collect in-game tokens and NFTs that hold real-life value. Over time, P2E gaming saw many different iterations, and the new play-for-gold (P4G) approach expands Web3 gaming beyond the digital universe. The FRUITS Eco-Bl...

CyberBunker, a German web hosting firm previously housed in a NATO bunker, appeals its controversial conviction for facilitating illicit transactions. Back in December 2021, eight people involved with Cyber bunker were sentenced despite the prosecutors being unable to prove that they facilitated the illicit activities of the services the company hosted. German news outlet DW then reported on the matter, highlighting that the case is “new legal ground.” Still, all eight defendants were convicted for running a “bulletproof hosting” service from a former NATO bunker in Rhineland-Palatinate, Germany. The facility hosted illegal services that they had no proven involvement with. The service ran for nearly six years and allowed any content except child pornography and terrorism. The 62-year-old Dutchman, accused of purchasing the NATO bunker that housed the infrastructure, was sentenced to five years and nine months of prison. The remaining defendants had sentences ranging a...

Goldman Sachs has used a fund set up with Chinese state money to buy a series of US and UK companies. The Wall Street bank has made seven deals using cash from a $2.5 billion private equity “partnership fund” it set up in 2017 with the sovereign wealth fund China Investment Corporation. This is according to people close to the fund and its operations. The bank did reveal its investments in these companies in the past. However, Goldman Sachs did not say the deals were financed at least partly from the Chinese fund. Source – TechStory The deals include companies with the following businesses, according to the Financial Times: A start-up that tracks global supply chains A consultancy that advises on cloud computing A drug testing company A manufacturer of systems used for artificial intelligence, drones, and electric vehicle batteries Also Read: Goldman Sachs : Bitcoin’s Profit-Taking Remained Strong in May These deals by ...

BTC price volatility returns as good news over the GBTC conversion to a spot Bitcoin ETF sends markets rallying. Bitcoin (BTC) neared two -week highs on Aug. 29 as news hit that digital asset manager Grayscale had won a lawsuit against United States regulators. BTC/USD 1-day chart. Source: TradingView SEC was "arbitrary and capricious" with Bitcoin ETF rejection Data from Cointelegraph Markets Pro and TradingView captured an instant BTC price reaction to the event, with BTC/USD gaining $1,700 in around 30 minutes. The news upended a stale Bitcoin trading environment which had endured after snap losses in mid-August. A ruling by the United States Court of Appeals for the District of Columbia Circuit stated that the U.S. Securities and Exchange Commission (SEC) was wrong to reject an application by Grayscale to launch an exchange-traded fund (ETF) using the Bitcoin spot price as its basis. “The denial of Grayscale's proposal was arbitrary and capricious because the SEC ...

Aug 29, 2023 at 06:19 // Price Author Coin Idol Weekly crypto currency Analysis of dYdX, Bone ShibaSwap, Toncoin, Bitcoin Cash and Mantle brought to you by Coinidol.com. Bitcoin and the altcoins have been under selling pressure since the recent drop on August 17. The best performing altcoins are not immune to the current bear market.  dYdX  dYdX (DYDX) is down, but has recovered from the recent downtrend. The crypto currency 's price fell to a low of $1.37 as the bulls bought the dips. Since July 1, the altcoin has been at its all-time high o...

An un disclosed SEC memo, spotlighted in a recent Twitter discussion, questions the agency’s initial stance on XRP’s classification, complicating Ripple’s ongoing legal battle . Bill Morgan highlighted a memo discussing the SEC’s internal views on XRP’s security status. John Deaton, in his response, clarified that the memo didn’t label XRP as a non-security but indicated no enforcement recommendations, suggesting the SEC didn’t initially view XRP as a security. To be clear, I didn’t say the memo concluded XRP is not a security. The memo was found to be privileged and not disclosed so I haven’t read exactly what it says. But Judge Netburn found it important to note that the authors of the memo, who were Enforcement lawyers at the SEC,… — John E Deaton (@JohnEDeaton1) August 27, 2023 Impact on Ripple’s Lawsuit Deaton pointed out that if the SEC was unsure about XRP’s status in 2018, it’s questionable to accuse Rip...

Asset management behemoth BlackRock has reportedly already invested in four of the five largest Bitcoin miners by market capitalization. Indeed, the traditional finance entity that shocked the industry by submitting an application for a spot-Bitcoin ETF is noted as the second-largest investor of the four Bitcoin miners. Additionally, data from CompaniesMarketCap has shown that the five largest Bitcoin miners maintain a market cap of $5.4 billion. However, those companies have also noted significant losses over the last 30 days. Subsequently, BlackRock is seemingly buying the dips of some of the largest companies that the industry has to offer.  Source: WazirX Also Read: BlackRock Bitcoin ETF Approval a Matter of “When Not If,” Says Insider BlackRock is A Major Investor in Four of the Five Largest Bitcoin Miners BlackRock stands out as one of the most successful asset management firms in the finance world. The largest asset manager in the world, the firm mana...

Source: AdobeStock / Seventyfour   This year’s downturn in the crypto market has made venture capital investors in the metaverse and play-to-earn sector “more cautious,” although user engagement in the games themselves remains “robust,” metaverse investor Animoca Brands told Cryptonews.com . According to Robby Yung, the CEO of North American Operations at Animoca Brands, the downturn has so far had only a limited impact on user activity in the play-to-earn sector. This is despite the fact that prices of most (fungible) tokens and non-fungible tokens (NFTs) in the gaming category are down significantly from their highs. Yung told Cryptonews.com that, “Crypto prices are down, but I still see robust game engagement, as I'm not sure there's really a direct correlation to crypto market conditions.”  For the more professional investors in the space, however, Yung noted that there has been a change in how they approach ...

Paolo Ardoino has clarified speculations over his previous post about Tether’s energy venture. The Tether CTO explained Tether’s efforts in promoting green energy in the crypto industry. Tether Energy is currently growing partnerships around the world with local companies. Paolo Ardoino, CTO at Tether, has clarified speculations over his previous post about Tether’s energy venture. In a post on X (Twitter), Ardoino provided details on what Tether is doing to promote the use of green energy in the cryptocurrency industry. GM Lot of speculation from the community on the photo I posted showing a container with the "Tether Energy" logo. "Is the site real?", questioned some tabloid. Did Paolo really photoshopped the logo on a container? Did Paolo really start to eat cabbages and vegetables? Well,… pic.twitter.com/fXtGRFBWuo — Paolo Ardoino (@paoloardoino) August 26, 2023 According to Ardoino, recent activities by Tether are a follow...

Bitcoin and altcoins lose more ground after comments from the Federal Reserve suggest that the regime of interest rate hikes could continue into 2024. Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. The remarks by Powell strengthen the narrative that interest rates are likely to remain higher for longer.  However, a positive sign is that after a brief sell-off, the United States equities markets have recovered from their intraday lows. With the event having passed without any major price movement, traders are back to guessing as to what could move the markets next. Daily cryptocurrency market performance. Source: Coin360 Pantera Capital believes that Bitcoin’s (BTC) price action will continue to follow its previous halving cycles. If that happens, Bitcoin could rise to $35,000 by April 2024 when the next halving is expected to occur. Af...