Markets

The owner of the Carolina Fish Market in Ballantyne, North Carolina is in trouble for using a COVID-based loan to purchase cryptocurrency. James Seidel has been accused of defrauding the Small Business Administration (SBA) using Economic Injury Disaster Loan funds. COVID Fraud Became Rather Prominent The COVID pandemic of 2020 and 2021 brought about a huge string of disasters. The economy tanked, people were out of work, and many businesses were forced to either...

Aditya Baradwaj, a former engineer at the bankrupt cryptocurrency trading firm Alameda Research, has revealed that the company was behind bitcoin’s 87% plunge in 2021. Baradwaj explained the events that led to the sudden drop, saying the incident was a result of a work philosophy established by Alameda’s co-founder Sam Bankman-Fried (SBF), which maintained that the utility gained by moving fast outweighed the occasional costs paid due to a poor risk management system. Alameda...

The price of the native token of the layer-2 scaling solution Immutable X – IMX – has skyrocketed by over 35% in the past 24 hours. The reason behind the impressive increase remains unknown. However, Lookonchain observed that some investors had accumulated substantial amounts of the asset. IMX has recently jumped above $0.76, a valuation last seen at the beginning of August. The coin slightly retraced in the past few hours and currently stands at around $0.71 (per CoinGecko’s...

PayPal – the world’s biggest digital payment platform – has announced the release of a new USD-pegged stable asset it’ll use to enter the digital currency market. PayPal is Delving Deeper into Crypto PayPal has had a strong background in crypto. A former executive with the firm – David Marcus – lent plenty of energy and time to aid Facebook’s failed Libra project, which would have seen a new stable currency payment outlet formed on the social media giant. Also,...

eToro will be in a position to offer cross-border crypto services after the EU’s Markets in Crypto Assets (MiCA) regulatory framework goes into effect in December 2024. An investing platform with over 32 million registered users, eToro, has announced that it is ready to offer crypto-related services in the European Union (EU) after its application for registration under the Crypto Asset Service Provider (CySEC CASP) was approved. The company, however, announced that its Europe entity will...

Dogecoin (DOGE) and Shiba Inu (SHIB) are both down in 2023, with investors eagerly awaiting a rebound. As meme coins, their trajectories are often hard to predict – yet we employed the help of ChatGPT to obtain insights into their future price movements. In this article, we reveal ChatGPT’s thoughts on whether Dogecoin or Shiba Inu will ever hit $1 before highlighting an alternative meme coin that the AI model believes could be set to pump before the end of the year. Top Meme...

Ripple’s expansion plans come months after its partial victory in its ongoing legal battle with the US SEC. In a strategic move aimed at addressing ongoing regulatory issues in the United States, Ripple, a blockchain payment company, is gearing up to significantly expand its workforce in international markets. In an interview with CNBC on September 13, Ripple CEO Brad Garlinghouse said without revealing the actual locations that over 80% of the company’s new hires for the year will be...

EOS price is eyeing a fresh increase from the $0.525 support against the US Dollar. The price is now trading above $0.56 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.5740 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to rise toward the $0.62 and $0.64 resistance levels. EOS price is recovering above $0.56 against the US Dollar, like Bitcoin. The price might...

Litecoin started a downside correction from the $68.25 zone against the US Dollar. LTC price is now trading above $62 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support near $64.85 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could start a fresh increase if it clears the $65.80 resistance. Litecoin price is correcting gains from $68.25 against the US Dollar, similar to Bitcoin....

On Sept. 19, Eclipse announced a new L2 architecture, which will leverage the Solana Virtual Machine while operating on Ethereum, hence bringing the advantage of the former’s speed and scale in transaction settlement. The newly promoted L2 architecture aims to redefine the scaling world by touching on areas like Ethereum settlement, execution using SVM, availing data with Celestia, and proving using RISC Zero. Bringing SVM Experience to EVM As per the press statement,...