On Friday, bankruptcy judge John Dorsey approved the law firm Sullivan & Cromwell (S&C) to be appointed as the debtors’ counsel for FTX, despite an objection from Daniel Friedberg, a former FTX US compliance officer. During a Zoom presentation, Friedberg claimed there was a conflict of interest between former and current FTX executives and FTX
Bitcoin News
On Jan. 21, 2023, the price of bitcoin reached a 24-hour high of $23,333 per unit at 5 a.m. Eastern Time on Saturday. The entire crypto-economy is now valued at $1.05 trillion after rising 7.2% against the U.S. dollar. Bitcoin’s price rise has led to the crypto asset’s dominance level surpassing the 40% region among
Federal prosecutors have seized $697 million in assets, mostly comprised of more than 56 million Robinhood shares worth $526 million, from FTX co-founder Sam Bankman-Fried. Court filings detailed that the U.S. government seized a series of bank accounts belonging to Bankman-Fried, holding millions in cash. US Government Seizes Millions in Cash and Robinhood Shares From
Bitcoin surged to a five-month high to start the weekend, as bullish sentiment returned to cryptocurrency markets. Prices of the world’s largest digital currency rose above $23,000, rebounding from a recent drop towards $20,000. Ethereum also rallied, as it hit its strongest point since September. Bitcoin Bitcoin (BTC) raced past the $23,000 level to start
Bitcoin (BTC) is in for a new “big rally” as market strength copies conditions from after the 2018 bear market. According to the latest analysis, BTC/USD will continue to head higher “after some consolidation” thanks to key signals from its relative strength index (RSI). Bitcoin prints never-before-seen bullish divergence With the BTC price gains still
Solana rose by as much as 20% Saturday, as crypto markets came alive to start the weekend. The token hit a 12-week high in today’s session, breaking out of a key price ceiling in the process. Cardano also rose to its strongest point since November, with the global cryptocurrency market cap up 6.86% as of
While the global industry built around digital assets is losing funds and jobs are dropping off, Switzerland seems to be weathering the storm relatively well, one piece of research claims. In fact, more crypto companies settled in the country during the past turbulent year than those that left it, or the business altogether. Crypto Valley
The United Arab Emirates virtual assets regulator has said no crypto entity has been granted the full market product (FMP) license. According to the country’s minister of state for artificial intelligence and the digital economy, Omar Sultan Al Olama, no crypto entity has been “able to onboard any customers even last week.” VARA Has Yet
Bitcoin (BTC) took a swing at $23,000 into Jan. 21 as Asia buyers drove fresh market strength. Bid liquidity causes suspicion Data from Cointelegraph Markets Pro and TradingView showed BTC/USD battling bears to reach $22,790 on Bitstamp overnight — its highest since August. With new multi-month peaks coming in quick succession despite fears of a
A World Economic Forum (WEF) panel comprised of central bankers and global tech providers has profiled central bank digital currencies (CBDCs) as the future of central bank money, presenting them as one of the solutions for limitations in the payments sector today. However, they have also stated these present several limitations still to be addressed.
While the number of ransomware hits may not have decreased significantly, the revenue from such attacks has fallen sharply last year, according to Chainalysis. The blockchain forensics firm believes that to a large extent the trend can be attributed to more of the targeted organizations refusing to pay the perpetrators. Chainalysis Registers Significant Decline in
An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that “cryptocurrency does not have any underlying value.” Indian Government Official on Crypto Indian government official Rajeev Chandrasekhar talked
JPMorgan Chase CEO Jamie Dimon calls bitcoin “a hyped-up fraud.” The executive questioned the cryptocurrency’s supply cap, expecting a picture of bitcoin’s pseudonymous creator Satoshi Nakamoto to pop up and laugh at us all when bitcoin’s supply hits 21 million coins. JPMorgan’s CEO on Bitcoin and Its Supply Cap The CEO of global investment bank
Less than a week ago, Brett Harrison, the former president of FTX US, published a 49-part Twitter thread describing his side of the story when he worked for the disgraced co-founder of FTX, Sam Bankman-Fried (SBF). On Friday, Jan. 20, 2023, Harrison revealed that his new firm, Architect, has raised $5 million from investors such
An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing
Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody Despite Recent Redemptions The Bitgo-backed
Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs. As the crypto market turned bearish and liquidity seized within the sector, miners found themselves
This week, FTX debtors issued a press release and a 20-page document noting that bankruptcy administrators had located $5.5 billion in liquid assets. The document details that investigators discovered fiat currencies, crypto assets, and securities as part of FTX’s and Alameda Research’s cache. However, the disclosure to unsecured creditors does not mention the extremely large
According to various reports, investors are reportedly interested in purchasing Coindesk, a cryptocurrency news publication. On Jan. 18, Wang Feng, founder of China-based news publication Marsbit, announced his intentions to purchase Coindesk along with other members of the crypto industry. This news follows a report from Semafor at the end of November 2022 stating that
Cosmos raced higher for a second straight session, after recently snapping a four-day losing streak. Friday’s move saw the token move closer to a key resistance level of $12.50. Solana also moved higher earlier in the day, as price bounced from a key support point. Cosmos (ATOM) Cosmos (ATOM), was one of Friday’s notable gainers,