Crypto news

Stellar lumen price started a downside correction from the $0.095 resistance zone against the US Dollar. XLM price is now trading below $0.092 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.0930 on the 4-hours chart (data feed via Kraken). The pair could start a decent increase if it clears the $0.093 and $0.095 resistance levels. Stellar lumen price is trading above $0.0880 against the US Dollar, similar to...

Ripple price is facing resistance near the $0.420 level against the US dollar. The price is now trading below $0.410 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.4110 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could decline further if there is now move above the $0.4120 resistance. Ripple price is correcting lower from $0.4320 against the US Dollar, similar bitcoin. XRP...

After Sam Bankman-Fried donated tens of millions of dollars to politicians throughout the 2022 midterm election cycle, the 30-year-old’s former company is asking for its money back.  Recipients of the bankrupt exchange’s contributions are expected to return the funds by February 28, 2023.  Political Refund As announced by FTX Group in a press release on Sunday, the exchange and its affiliated debtors are sending confidential letters to recipients of the company’s previous...

A study conducted by the financial consultancy firm – deVere Group – estimated that 82% of clients with over $1.2 million worth of investable assets sought advice on cryptocurrencies in the past 12 months.  The significant interest came in spite of the broad market slump and the countless scandals and bankruptcies that happened in 2022. Crypto Seems Highly Popular Among the Rich According to the study, approximately eight out of ten high net worth (HNW) customers of deVere...

Wybo Wiersma – a 40-year-old Dutchman who studied at Oxford’s St Cross College – will serve a 54-month prison sentence for stealing £2,156,000 (more than $2.6 million) using a cryptocurrency scheme. UK detectives linked the scam to the man who used the pseudonym Norbert van den Berg in his malicious website and university coursework. ‘Greed and Dishonesty’ Behind the Scam Judge Michael Gledhill KC ordered Wiersma to spend four and a half years in prison for his offense. The...

A federal judge in the region of San Diego, California has ordered the leader of a crypto fraud scheme to pay as much as $17 million in restitution fees to more than 800 traders and investors that allegedly fell victim to his methods. Fraud Promoter Will Also Spend Time in Prison The scam was known as Bit Connect, and it will likely go down as one of the biggest crypto-based Ponzi schemes in history. Many investors who put their money into the platform were ultimately...

American business intelligence company MicroStrategy has recorded another quarterly loss after calculating the value of its Bitcoin portfolio. According to a Bloomberg report, MicroStrategy recorded a net loss of $249.7 million, narrowed down to $21.93 a share, in Q4 2022. The firm’s revenue declined by 1.5% to $132.6 million, going lower than the estimated drop. MicroStrategy Records $198M Impairment Charge  The Virginia-based company incurred an impairment charge of $197.6...

StarkWare – a company focused on Ethereum scaling – will open-source its Zero-Knowledge (ZK) software. StarkWare announced today that it plans to open-source its STARK Prover – the engine that’s designed to generate cryptographic proofs that compress hundreds of thousands of transactions for submission to Ethereum in fewer kilobytes than a smartphone photograph. This is also the technology that powers Starknet and StarkEx – solutions that have reportedly scaled more...

The bitcoin boom continues as more time in January was able to bring the world’s number one digital currency by market cap beyond the $19,000 mark, something the currency hadn’t seen since November of 2022. Bitcoin Is Growing Like Crazy January has brought on a certain degree of healing for most digital currency investors and traders. The previous 12 months had been so disastrous for bitcoin, literally eliminating more than 70 percent of its overall valuation. The...

Movie Pass – a program that seeks to provide lesser-priced movie tickets to theatergoers – is back with a bang. This time, it’s backed by cryptocurrency and getting a little help from the blockchain space. Movie Pass Is Coming Back with Crypto in Its Corner The company has had a rather harsh run of things, first rising to the ranks over a decade ago in 2011. The enterprise sought to provide discounted movie tickets, though there appears to have been some controversy...