Crypto news

The recent conviction of Sam Bankman-Fried (SBF) marks a pivotal moment in the cryptocurrency industry, carrying significant implications for its leaders and stakeholders. As the founder of the now-defunct FTX crypto exchange, SBF held a prominent position in the sector, making his fall from grace a broad industry concern. His conviction on fraud, conspiracy, and money laundering is a stark reminder of the need for accountability and transparency in the crypto space. This...

Bitcoin miner Marathon Digital has continued its international expansion by launching a 27-megawatt Bitcoin mining project powered by renewable hydro energy near Paraguay’s Itaipu Dam. According to a press release, Marathon Digital launched the project in partnership with Penguin Infrastructure Holding, which aims to transform energy into human potential in Paraguay. The project’s first miners are already on site and are being prepared for installation and energization....

Ethereum scaling network Polygon’s native crypto (MATIC) has been leading altcoin gains. Over the past week, MATIC surged by approximately 20%, briefly hitting a 5-month high of $0.86. This increase is fueled by a growing level of trade activity and a more positive overall sentiment in the broader crypto market. The upcoming developments, particularly Polygon 2.0, could potentially drive the rally further. Polygon: Key Metrics Q3 According to Nansen’s latest quarterly report...

TL;DR Price Correlation Evidence: Recent data shows a high correlation coefficient (0.84) between Bitcoin and Ripple prices, suggesting a closer relationship than previously thought, especially compared to the negative correlation between Bitcoin and stock prices. Trading Volumes Indicate Overlap: High daily trading volumes for the XRP-BTC pair on major exchanges like Bitstamp and Binance demonstrate significant overlapping interest among investors in both cryptocurrencies....

The U.S. Securities and Exchange Commission (SEC) has fired back at Binance’s recent motion to dismiss the regulator’s lawsuit against the exchange, calling the latter’s arguments a “tortured interpretation of the law.” In an 88-page filing with the DC Circuit on Tuesday, the agency argued that Binance had ignored most of its core allegations in a “bid to evade accountability” for its alleged violations of securities law. Countering Binance’s Theatrics In its preliminary...

FTX management has been trying to recover funds from multiple sources including beneficiaries of donations made by the firm and its former CEO Sam Bankman-Fried. FTX bankruptcy advisors have sued cryptocurrency exchange ByBit Fintech Ltd in an attempt to recover funds withdrawn prior to its collapse. According to a Bloomberg report, FTX management filed a lawsuit in a Delaware court on Friday against Bybit’s investment branch, Mirana Corporation and two corporate affiliates.  FTX’s...

Solana’s price is flying high again on crypto exchanges. However, regulated investors value SOL tokens at an astounding premium in Grayscale Solana Trust (GSOL). The average SOL price on crypto exchanges was just under $62 Saturday afternoon U.K. time, according to data from CoinGecko. That puts the smart contract blockchain platform up over 49% in the seven-day window. Furthermore, Solana is soaring over 180% on the 30-day scale after a stunning “Uptober” rally in crypto...

Crypto returned to the limelight of financial markets in 2023 – but for a reason less flattering than skyrocketing crypto prices. A new report from the Commodities and Futures Trading Commission (CFTC) shows that crypto-related charges accounted for over half of the agency’s total enforcement actions this year. Cracking Down on Crypto In its 2023 enforcement results report, the CFTC said it “brought 47 actions involving conduct related to digital asset commodities,”...

Last month, Hayes made a similar forecast, noting that Bitcoin could reach from $750,000 to $1 million towards the end of the current decade. After his visit to Rapa Nui, commonly known as Easter Island, Arthur Hayes, the co-founder and former CEO of leading crypto derivatives platform BitMEX, has once again predicted that Bitcoin (BTC) could reach $1 million, with Ethereum (ETH) soaring to $100,000. In an unexpected turn, Hayes humorously hinted that the island’s ancestors might have...

Hayes predicts that Yellen’s actions, in collaboration with the US Federal Reserve, will result in a net liquidity injection of $1 trillion into global financial markets. In a recent essay titled ‘Bad Gurl,’ Arthur Hayes, a renowned crypto expert and former CEO of BitMEX delves into the intricate world of finance, spotlighting the influential figure of US Treasury Secretary Janet Yellen. Hayes characterizes Yellen as the orchestrator of financial maneuvers capable of shaping the global...