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Temitope Olatunji

Articles by Temitope Olatunji

FTX and Alameda Research Move $10.8M in Cryptocurrencies to Binance, Coinbase, Wintermute

1 day ago

These asset shifts have also been constantly noticed ever since FTX filed for bankruptcy, leaving many to speculate about the rationale behind the moves.

According to a recent tweet by Spot on Chain, crypto accounts linked to the collapsed crypto exchange FTX and its sister trading firm Alameda Research executed over $10 million worth of token transfers across six currencies within a 12-hour span. These movements involve a part of the remaining digital assets still controlled by FTX bankruptcy administrators. The frequency and strategies behind the withdrawals have kept many wondering why it is happening.
In the tweet, Spot on Chain laid out the specifics of the transfers, which included over $2 million worth of tokens such as StepN (GMT) worth around $2.58M, Uniswap (UNI) of $2.41M,

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Crypto Bank Seba Rebrands Itself as ‘Amina’ amid Major Transformation

2 days ago

The transition began at the company headquarters in Switzerland, with plans for an eventual change of name and transformation across other offices located in financial hubs like Abu Dhabi, Hong Kong, and Singapore.

The cryptocurrency bank, formerly known as Seba, is embarking on a major rebranding effort as it transitions to a new name – Amina Bank. The change comes following confusion with another bank in Sweden named SEB. The report stated that there was an agreement to adopt a fresh identity to stop whatever confusion the identical names may cause, especially since they have similar services.
The former name Seba is said to be a short form of its founder’s name, Sebastien Merillat, but the new one seeks to reflect the wide range of services that the company is offering. According to

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Coinbase Faces SEC Charges amid Calls for Crypto Regulation Clarity

2 days ago

Coinbase CEO Brian Armstrong voiced frustration over the charges. He mentioned how his company has provided a lot of clarity to the SEC but the commission on the other hand is not making matters easier.

Despite over 30 meetings with the SEC in the past 18 months aimed at gaining regulatory clarity, cryptocurrency exchange Coinbase was hit with charges in June for operating an unregistered securities exchange. This came after the company received a Wells Notice for potentially breaking securities law from the regulator in March, signaling an intention to bring legal action against the crypto company.
In a Decrypt interview, Coinbase CEO Brian Armstrong voiced frustration over the charges. He mentioned how his company has provided a lot of clarity to the SEC and has made a lot of efforts

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Crypto Bull Novogratz: Why Fed Policy Will Push Bitcoin and Gold to New Highs after Spot BTC ETF Approval

3 days ago

Novogratz is not the only expert who expects Bitcoin price to skyrocket soon. One of the main reasons is that long-term holders are not selling off their positions

According to Michael Novogratz, founder of digital asset management company Galaxy Digital, things may soon change for other stores of value like gold and Bitcoin (BTC) as the United States Federal Reserve changes course. In a Bloomberg interview, Novogratz shared optimism for these assets based on expectations that the Fed will become less aggressive with its policies.
Since it looks like the Fed is shifting from tough tightening policies, Novogratz believes the US central bank will spark an increased willingness among investors to take on more risks across various markets. Also, the US dollar has already shown declines as

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Philippines Financial Regulator Cracks Down on Binance for Unauthorized Crypto Operations

3 days ago

Even though Binance acts as an approved broker in some places overseas, it still has to meet many legal requirements to handle securities activities in the Philippines under the country’s Securities Regulation Code.

The Philippine Securities and Exchange Commission (SEC) has greatly increased its regulatory fight against the global crypto trading giant Binance. The SEC accused the crypto exchange of illegally operating in the country without licenses.
In a recent notice, the Philippine SEC clearly stated that Binance does not have official permission to sell investments or securities to average investors across the country. Calling out the exchange is a part of the agency’s broader efforts to reveal unregistered crypto companies and coordinate blocking access to their platforms.

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Former Binance CEO CZ Sheds Light on Next Moves as He Plans to Invest Crypto in Biotech Research

4 days ago

Following his recent guilty plea and forthcoming sentencing, former Binance CEO Changpeng Zhao has outlined potential next steps, including crypto investments in biotech research.

Changpeng Zhao announced his resignation as CEO of Binance after leading the cryptocurrency exchange since its inception. This news comes on the heels of a settlement with US regulators over Binance’s regulatory violations. Despite the fact that no customer funds embezzlement or market manipulation were alleged, he pleaded guilty to lesser charges, accepting a $175 million fine and a maximum sentence of 18 months.
CZ has committed to remaining in the United States and not appealing any reasonable sentence, with judgment for the offenses scheduled for late February. After his resignation, he hoped to take a

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Ethereum Co-Founder Outlines Roadmap for Improving ETH Network’s Staking and Upgrades

6 days ago

Buterin also touched on the roadmap for Ethereum’s technical upgrades, referring to an imminent transition called ‘Danksharding’ that expands data availability and enables more transactions per block.

Speaking recently at the Turkey Blockchain Summit, Ethereum co-creator Vitalik Buterin discussed some of the platform’s plans for enhancing decentralization around staking while providing updates on upcoming network changes aimed at boosting usage capacity. Recognizing the growing significance of cryptocurrency adoption in Turkey and worldwide, Buterin explained intentions to rework Ethereum’s existing staking model to shift influence away from large mining pools and better empower individual node operators on the network.
Currently, a majority of stakers participate through centralized

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Binance Legal Issues Could Worsen as CFTC Gets More Aggressive, Gains Access to Crypto Exchange’s Records

9 days ago

The commission now has access to all of the exchange’s records, which could serve as a catalyst for uncovering additional instances of mishandled funds or suspected fraudulent activities.

The recent news of Binance’s former CEO pleading guilty to money laundering charges has undoubtedly made headlines, adding to the circumstances that led to his decision to resign as CEO. A settlement was reached to resolve this matter, resulting in a $50 million fine imposed on CZ (the former CEO) and a $4.3 billion payment to be made by Binance itself. With these measures in place, the exchange can continue operations without further disruption from the aforementioned case. However, this has affected the faith of some of the crypto company’s users as they have started to withdraw aggressively from the

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Singapore Tightens Crypto Regulations to Protect Retail Investors

9 days ago

The new measures will be rolled out in phases, beginning in mid-2024. One of the incoming rules will ban the use of locally issued credit cards to purchase cryptocurrencies.

In a bid to safeguard retail investors amidst the growing number of individuals engaging in digital asset usage, Singapore has taken steps to tighten crypto regulations. The Monetary Authority of Singapore (MAS) recently announced these new measures, aimed at curbing risky practices that often serve as incentivization techniques on crypto platforms.
The new measures will be rolled out in phases, beginning in mid-2024. One of the incoming rules will ban the use of locally issued credit cards to purchase cryptocurrencies. This prevents individuals from investing in the highly volatile market through credit and

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Pyth’s Blazing $77M Token Airdrop Cements Status as Chainlink Challenger

11 days ago

Pyth Network’s exceptional refresh rate speed sets it apart and significantly adds to its appeal, surpassing that of its competitor – Chainlink.

Pyth Network, a decentralized finance (DeFi) oracle service competing with Chainlink, made headlines this week with a remarkable token airdrop valued at an astounding $77 million. The distribution of 250 million PYTH tokens to early Pyth users increased the protocol’s market capitalization beyond $765 million, highlighting the project’s growing importance.

Today marks the launch of the Pyth Network’s permissionless mainnet, ushering in a new era of token-led governance for the protocol.

Ecosystem participants can actively engage in Pyth Governance by locking their $PYTH Tokens in the Pyth staking program to cast votes on community…

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Bitcoin-Focused Project Taproot Wizards Raises $7.5M to Advance BTC Innovation

15 days ago

Taproot Wizards seeks to bring together developers to build different applications and solutions on top of the Bitcoin Base layer that will maximize the potential of the Taproot upgrade carried out in 2021

To strengthen the innovations in the world of Bitcoin, Taproot Wizards secured new funding to further develop the BTC ecosystem. The successful raise shows increasing momentum and interest in expanding Bitcoin’s capabilities beyond being only a store of value.


Today we are announcing a $7.5M seed round, led by @standardcrypto, to Make Bitcoin Magical Again
We broke the chain, we danced on stage, we took showers
We heard about bitcoin 10 years ago. And WE’RE HERE TO FIX IT
More in the thread below 🧙‍♂️
— Taproot Wizards

Read More » Closes $110M Funding as Investors Show Renewed Interest in Cryptocurrency

18 days ago

A number of reputable investors participated in the Series E funding round, among them there were Lakestar, Lightspeed Venture Partners, Coinbase Ventures, and Baillie Gifford., a leading cryptocurrency exchange and wallet provider, recently raised $110 million in a Series E equity financing round that was led by UK-based Kingsway Capital. The latest investment comes despite the firm’s valuation falling below half of its previous $14 billion figure that it had earlier this year. provides one of the biggest crypto exchange and wallet provider services in the world. The company presently has more than 82 million users, and its platform manages more than $1 trillion in transactions.

New Funding Round in Anticipation of Crypto Market Recovery
A number of

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The Sandbox Introduces Virtual Cinematic Neighborhood Cinerama in Partnership with Lionsgate and Skydance

23 days ago

To make the sales go smoothly, The Sandbox has created a watchlist system that will allow community members and interested participants to secure their desired LAND.

The Sandbox is partnering with Lionsgate and Skydance for the Cinerama LAND sale. Cinerama is a virtual cinema that gives users the privilege of creating their own immersive movie-inspired universe. The metaverse company is launching this new virtual world with the hope of reigniting rabid hopes for digital environments.
The entire buzz around the metaverse has died down after enjoying major popularity in 2021, with several companies launching their solutions to reach their customers better. However, since it is still in its very early stage, The Sandbox is making efforts to make the innovation more popular, showing the

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Judge Confirms Celsius Bankruptcy Exit, Creditors to Get Shares and $2B in Crypto

23 days ago

The approved plan allows Celsius to distribute approximately $2 billion worth of Bitcoin (BTC) and Ethereum (ETH) and some shares of the new company to users who were unable to withdraw their funds

The Celsius bankruptcy plan has been approved. The path is now clear for customers to see some of their funds returned and receive shares in the reorganized company, which will be called NewCo.
The Celsius insolvency case, which began last year, has taken a significant step forward with the approval of the company’s restructuring plan by the US Bankruptcy Court for the Southern District of New York. On November 9th, Judge Martin Glenn approved the defunct crypto company’s proposal, which was also supported by many creditors.

Celsius Network declared bankruptcy in 2022 after months of

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Immutable and Ubisoft Team Up to Pioneer Frictionless Web3 Gaming Models

24 days ago

Immutable intends to leverage the capabilities of its ecosystem to ensure that the joint effort with Ubisoft succeeds in affording players true digital ownership.

Immutable, a leading Web3 gaming platform, has announced a significant partnership with video game giant Ubisoft. The collaboration is to create an innovative gaming experience based on decentralized blockchain technology. Ubisoft’s expertise in developing high-quality video games is combined with Immutable’s advanced Web3 capabilities in this strategic alliance.

Immutable 🤝 Ubisoft’s Strategic Innovation Lab

Immutable, the leading web3 gaming platform, is joining forces with Ubisoft’s Strategic Innovation Lab to create a new gaming experience to further unlock benefits for players through the power of web3.
This is

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Where Is Bitcoin Price Headed as BTC $1K+ Wallet and Long-Term Holders Reach New All-Time High?

25 days ago

Given BTC price’s continuous rejection of the $35k zone, it is possible that we may witness Bitcoin correction to $31k.

The price of Bitcoin has broken through the $35k resistance for the third time since the start of November. It shattered the long-term consolidation range between $25k and $31k on October 22. Although the price has been on the rise since then, the overall signals have been mixed, with some analysts expecting retracements and others anticipating a continued upward trend.
When BTC experienced the breakout from the $25k to $31k sideways consolidation that began in March, the price closed at $33k, leading many to believe it marked the beginning of the long-awaited bull run. The price continued its ascent and almost reached $36k the following week, but the entire move was

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Ava Labs Cuts 12% of Workforce amid Early Signs of Crypto Market Recovery

25 days ago

According to Ava Labs CEO Emin Gün Sirer, the cuts were necessary to restructure and reallocate resources in the ongoing crypto bear market.

The cryptocurrency job market continues to face issues with layoffs amid the challenges and uncertainty of the crypto bear market. One of the recent ones is the recent sack of 12% of the Ava Labs workforce. Ava Labs is the team behind the popular Avalanche blockchain. The 12% cut in the crypto giant’s staff represents at least 40 employees.
According to Ava Labs CEO Emin Gün Sirer, the cuts were necessary to restructure and reallocate resources during the ongoing crypto bear market. The layoffs targeted certain divisions more heavily, especially the marketing department. It is also part of a wider trend in the crypto industry as many firms deal

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Validation Cloud Launches Staking-as-a-Service Platform for Institutional Investors

29 days ago

Several key features of the platform make it ideal for institutional staking providers. For instance, it enables bulk validator deployment, allowing institutions to launch a large number of validators at the same time.

Validation Cloud, a Web 3.0 infrastructure platform, recently launched a staking-as-a-service platform for institutional clients. This platform enables institutions to use multiple validators at the same time and earn rewards by automating smart contract activities. This staking service is non-custodial, which means it has no control over the assets staked.
Key Features of the Validation Cloud’s Institutional Staking Platform
Several key features of the platform make it ideal for institutional staking providers. For instance, it enables bulk validator deployment, allowing

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Flare Integrates Elliptic’s Crypto Risk Management Solutions to Fortify DApps against Financial Crimes

November 1, 2023

The partnership will allow Flare dApp developers to benefit from Elliptic’s real-time transaction screening and crypto wallet checks.

Flare, a layer 1 EVM blockchain that provides developers with decentralized permission into data from various chains, and the internet, has announced that they are partnering with Elliptic, a global leader in crypto risk management. The collaboration aims to integrate Elliptic’s robust risk management rules into the Flare network to enhance the security and compliance of decentralized applications.
The partnership will allow Flare dApp developers to benefit from Elliptic’s real-time transaction screening and crypto wallet checks. These solutions are important for identifying illicit activities like money laundering, terrorist financing, and sanctions

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Saga Launches Pegasus Incentivized Testnet for Web 3.0 Gaming Ecosystem

October 31, 2023

The Pegasus Testnet has gone through various stages of rapid development in order to support Saga’s partners and innovators.

Based on a report from Chainwire, Saga, a layer-1 protocol for Web 3.0 gaming, has announced the introduction of its Incentivized Testnet, which is known as Pegasus. This marks a major milestone for the project as it prepares for the full Saga Protocol V1 Mainnet that it plans to roll out in early 2024.
Saga is a developers’ ecosystem that works best for Web 3.0 gaming. The company aims to help developers get creative and find it easy to build projects. It was founded in 2022, and within a short period, it has been able to build 282 projects by close to 1,500 developers through its innovator program.

Accelerated Development of Pegasus Testnet Features

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GBTC & BITO Witness Historic $1.7B in Trading Volume as BTC Investors Anticipate Bitcoin ETF Approval

October 30, 2023

In anticipation of this pivotal event, there has been a substantial uptick in trading volume for products launched by ProShares and Grayscale.

Activity surrounding Bitcoin investment products, particularly exchange-traded funds (ETFs), has seen a notable increase. This surge is primarily driven by the growing excitement within the market about potential ETF approvals in the United States. Speculation and expert opinions on the potential acceptance of the Grayscale Bitcoin Trust (GBTC) by the SEC have been widespread, especially after the commission chose not to appeal the case before the deadline date.
In anticipation of this pivotal event, there has been a substantial uptick in trading volume for products launched by ProShares and Grayscale. Various sources, including a tweet from Eric

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dYdX Chain Launches Mainnet as Independent Cosmos Layer 1

October 27, 2023

This shift denotes a substantial evolution for the project, moving it to a standalone Cosmos-based blockchain after previously relying on Ethereum Layer 2 scaling solution StarkEx.

dYdX Chain has marked a major milestone by officially launching its mainnet as an independent Cosmos Layer 1 blockchain. This launch, which occurred with the creation of the genesis block by validators on October 26 at 1 p.m. EST, represents a monumental step forward for the leading decentralized derivatives trading platform.
The mainnet activation signals the transition to dYdX version 4 and its new community-governed blockchain, which is a substantial evolution for the project, moving it to a standalone Cosmos-based blockchain after previously relying on Ethereum Layer 2 scaling solution StarkEx. The launch

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Coinbase Challenges SEC’s Regulatory Stance on Crypto, Regards It as ‘Insupportable’

October 25, 2023

Coinbase contends the SEC’s interpretation of what constitutes a security is dangerously broad and insupportable. In the exchange’s view, only assets conferring explicit financial rights or a stake in a business should be considered securities.

The popular crypto exchange Coinbase Global Inc (NASDAQ: COIN) is locked in a major legal battle with the Securities and Exchange Commission (SEC) that could have far-reaching consequences for digital asset regulation. The central challenge is whether certain cryptocurrencies available on Coinbase’s platform should be regulated as securities. The SEC considers assets such as Bitcoin to be investment contracts subject to its jurisdiction. However, the exchange disagrees, claiming that the SEC is overstepping its authority.
Crypto Exchange Coinbase

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Experts Reveal Drivers of Bitcoin’s Rally and Potential BTC Price Targets

October 24, 2023

Bitcoin (BTC) has established strong support between $25,000 and $30,000. Take a look at the next key resistance.

The price of Bitcoin has been steadily rising since October 13, following its inability to break the support level of around $26,000. Since then, it has continued to climb, reaching $35,000 earlier today, a level not seen since May 2022. The move from the support level to $35,000 represents a price increase of over 30% in just two weeks.
The BTC rise has boosted the hopes of many investors, with some believing it could mark the beginning of the much-anticipated bull run. However, due to the prevailing uncertainty in the Bitcoin and cryptocurrency markets, many still anticipate a price retracement, with some even expecting a drop below $15,000 to provide an attractive buying

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Lawyer: SEC Has Just 3% Chance against Ripple if They Appeal XRP Case

October 23, 2023

Morgan asserts that XRP sales fail to meet at least two of Howey test prongs, making the SEC’s case weak. With the facts apparently not aligning with the Howey framework, he sees little room for the SEC to overturn the earlier judgment.

In the ongoing Ripple versus SEC case over XRP, legal experts are assessing the chances of a successful SEC appeal after Judge Analisa Torres granted Ripple a partial win in July. The judge ruled that XRP sales on public exchanges were not unregistered securities deals.
Jeremy Hogan, a lawyer and partner at Hogan & Hogan, weighed in on the SEC’s odds if they appeal. Referencing statistics, Hogan stated the SEC has just a 14.2% chance of winning on appeal. He believes the very fact-based manner of Judge Torres’ opinion does not improve the SEC’s chances.

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LBRY Bids Farewell, Shutting Down after Losing SEC Case

October 20, 2023

LBRY announced that all of its executives, staff members, and board directors had resigned. According to LBRY’s statement, the company will now focus on addressing any remaining legal obligations before completely ceasing operations.

Cryptocurrency firm LBRY has announced that it will cease operations and shut down following a legal battle with the Securities and Exchange Commission (SEC).
LBRY was sued by the SEC in 2021 for allegedly conducting an unregistered securities offering by selling its LBRY Credits (LBC) cryptocurrency. The final ruling was in SEC’s favor as a US judge required LBRY to pay over $111,000 in fines for violating securities laws.

Following this judgment, the blockchain company initially decided to appeal the ruling, as reported in a letter to Coindesk. They

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Executive Director of Binance France Resigns amid Ongoing Regulatory Scrutiny

October 19, 2023

With Stéphanie Cabossioras’ resignation, she joins at least 10 other senior executives who have left Binance this year.

Stéphanie Cabossioras has resigned from her role as executive director of Binance France, the French arm of the world’s largest cryptocurrency exchange. Her departure comes as the latest in a series of high-level exits from Binance and occurs against a backdrop of heightened regulatory pressure on the company.
Cabossioras was appointed to lead Binance France in April 2022, playing a key part in the exchange’s expansion into the French market. However, her tenure was short-lived.

Departure Adds to Exodus of Executives
With Cabossioras’ resignation, she joins many other senior executives who have left Binance this year alone. In July, a minimum of five executives

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Roblox Does Not Accept Crypto Payment, Denies Adopting XRP after Viral BitPay Tweet Spreads Misinformation

October 18, 2023

The situation first arose when BitPay posted a tweet stating that Ripple (XRP) could now be used to buy items in games that use BitPay, including Roblox and Smite.

Popular gaming platform Roblox found itself at the center of some confusion on Tuesday after a now-deleted tweet from cryptocurrency payment processor BitPay claimed that Ripple’s XRP could be used to make in-game purchases. The unsubstantiated claims rapidly spread across social media, leading many users to speculate that Roblox may be integrating cryptocurrency payments.
BitPay Tweet Spreads Misinformation
The situation first arose when BitPay posted a tweet stating that XRP, a cryptocurrency associated with fintech company Ripple, could now be used to buy items in games that use BitPay, including free-to-play ones like

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FTX Proposes Returning Up to 90% of Creditor Holdings in Amended Bankruptcy Plan

October 17, 2023

The team overseeing the bankruptcy process has put forward a new plan to distribute the remaining assets to affected creditors. The proposal aims to give creditors back up to 90% of their holdings at the time of FTX’s collapse.

Cryptocurrency exchange FTX has introduced an amended proposal to return a substantial portion of funds to creditors impacted by the company’s bankruptcy last November.
The Troubled FTX Exchange
FTX, once one of the largest crypto exchanges, filed for bankruptcy protection after a liquidity crisis prompted mass customer withdrawals. This left FTX unable to meet financial obligations, including returning customer assets that were held on the platform. The total amount missing is estimated at around $9 billion.

The crisis began on Sunday, November 6, 2022, when

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Taylor Swift Makes Box Office History with Eras Tour Concert Film

October 16, 2023

In achieving this $95 million figure, Swift’s film broke the previous record for the largest opening weekend ever for a concert film. That mark was formerly held by Justin Bieber’s 2011 film “Never Say Never”, which opened to $29 million.

Pop superstar Taylor Swift’s new concert film “Eras Tour” dazzled in its box office debut this past weekend. The highly anticipated film brought in massive ticket sales in its opening frame, shattering records and exceeding expectations.
Eras Tour Impressive Opening Weekend Ticket Sales
According to estimates from distributor AMC Entertainment, “Eras Tour” grossed over $95 million domestically in its first three days of release. Analysts had predicted a debut north of $100 million, but Swift ultimately fell just shy of that massive benchmark.

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