An upcoming Bitcoin (BTC) hashrate-backed product that could offer 10% to 13% returns shouldn’t be compared to failed products by BlockFi or Celsius as its returns come from proof-of-work, not “ponzi schemes,” claims the product’s creator Bitcoin mining firm Luxor Technology. The legitimacy of Luxor’s hashrate-backed product was highlighted in an Oct. 17 What Bitcoin
Month: November 2023
Blockchain-based startups continue to gather funding during the current bear market, with MetaMask partner Blockaid raising $33 million in October. However, the overall funding in the crypto industry has dropped to levels last seen in 2020, amassing $2.1 billion over 297 deals in the third quarter of 2023, as reported by Messari. As is often
A recent attack compromised Monero’s community crowdfunding wallet, wiping out its entire balance of 2,675.73 Monero (XMR), worth nearly $460,000. The incident took place on Sept. 1 but was only disclosed on GitHub on Nov. 2 by Monero’s developer Luigi. According to him, the source of the breach has not been identified yet. “The CCS
The Joint Chiefs of Global Tax Enforcement (J5), a global anti-tax fraud group, hosted investigators, cryptocurrency experts and data scientists in “The Cyber Challenge” event to track down individuals and organizations committing tax fraud. The J5 members comprise the criminal intelligence communities from Australia, Canada, the Netherlands, the United Kingdom and the United States, which
Ripple is now well on its approach to putting its extended legal battle with the SEC behind it, and a settlement is finally in sight. Prominent lawyer and XRP supporter John E. Deaton recently contributed his two cents, noting how a settlement would be the best case for Ripple. According to the attorney, it is
Almost $600,000 in Bitcoin (BTC) has been stolen from users who downloaded a fake Ledger Live application on Microsoft’s app store, according to cryptocurrency sleuth ZachXBT. The on-chain analyst spotted the scam, “Ledger Live Web3” on Nov. 5, which is tricking users into thinking that they’re downloading “Ledger Live” — a user interface for Ledger
Abu Dhabi, the second-most populous emirate in the United Arab Emirates, has introduced a formal regulatory framework for decentralized autonomous organizations (DAOs) and other digital ledger entities as it doubles down on its ambition to be a leader in digital asset innovation within the Middle East. The new framework allows DAOs to operate legally and
The current claim pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s claim pricing is attributed to the valuation of the Artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in. Creditors stake their claims to try to recoup some of their investment
Some of the largest United States banks are not able to facilitate customers deposits after one of the Federal Reserve’s payment systems suffered an outage on Nov. 3. The Federal Reserve said the bug was caused by a “processing issue” in the Automated Clearing House — a payment processing network widely used by banks and
Top Stories This Week Sam Bankman-Fried found guilty, what’s next for the ‘crypto king’? Former FTX CEO Sam Bankman-Fried was found guilty of all seven charges by a jury in his criminal trial in New York after about four hours of deliberation. He was convicted of two counts of wire fraud, two counts of wire
Bitcoin (BTC) sought to pressure $35,000 on Nov. 4 as weekend markets continued to consolidate higher. BTC/USD 1-hour chart. Source: TradingView “Significant” event sets up BTC price upside Data from Cointelegraph Markets Pro and TradingView showed BTC price support holding after the end of Wall Street trading. The largest cryptocurrency saw a revisit of intraday
An interesting development is the rumors that are circulating on social media regarding the XRP price and the lesser-known Ripple co-founder Arthur Britto. Apparently, Britto had given an ultra-bullish forecast for the digital asset, with the expectation that it would become valued at five digits. But IS there any merit to these rumors? Ripple Co-Founder
Lawyers representing the $116 million Mango Markets exploiter have convinced a judge to postpone the fraud trial until April 8, 2023. Avraham Eisenberg’s fraud trial was set to commence on Dec. 4 but several circumstances impacted his trial preparations, according to his lawyers, who filed a successful motion for a continuance to District Court Judge
More tradition than coincidence, the Christmas season is around the corner again and the market is looking good for yet another run. Bitcoin (BTC) surged to more than $35,000 in October, another record high for 2023. The year-long rally has been attributed to unconventional market trends, including excitement over the Bitcoin spot ETF applications pending
2023 was anticipated to be the comeback year for Bitcoin. Experts predicted that the King of Crypto would soar to $50,000 or more, but it has only bounced back to about $26,000 since the bear market started in late 2021. Cointelegraph Markets Pro, despite the bearish trends ruling the space, has sent investors more than
The United States Commodity Futures Trading Commission (CFTC) has turned its attention to how companies handle customer assets. The recent CFTC proposal seeks to enhance the rules for futures commission merchants (FCMs) and derivative clearing organizations (DCOs). These companies are now required to invest customer funds in highly liquid assets. However, the revised rules do