Tag Archives: social

The price of bitcoin took a massive hit in 2022, dropping by more than 50% in 12 months. However, the crypto analytics platform Santiment believes there’s more bad news incoming in the new year. The company based its rather bearish prediction on the BTC whales’ activity. BTC Whales Are Net Sellers Santiment began its 2023 prediction analysis by highlighting the significance of BTC whales’ behavior for the asset’s price movements. This is somewhat expected since these types of...

Coinbase customers, who had previously sued the crypto exchange over unauthorized crypto transfers, have continued to hold back their account information in a bid to block efforts to move their case to arbitration. A renewed emergency motion filed in federal court revealed that the plaintiffs agreed to provide the necessary information encompassing emails, usernames, and Ethereum addresses, in exchange for a protective order. According to the filing with the US District Court...

It’s no secret that wash trading continues to plague the crypto market. A paper titled “Crypto Wash Trading,” published by the National Bureau of Economic Research (NBER), found that an overwhelming number of unregulated crypto exchanges account for a sizeable portion of wash trades. The nonprofit research organization studied 29 major exchanges, such as Binance, Coinbase, and Huobi, as well as lesser-known exchanges from a period of July 9th to November 3rd, 2019. Wash...

For better or worse, 2022 is about to end, and the bitcoin bulls are in a hurry to send this rather violent year packing. The asset’s price tumbled amid macroeconomic hurdles, industry collapses and scams, and everything in between. The micro scale doesn’t give much hope either, as BTC slipped to a new 10-day low of way below $16,500 yesterday. Bitcoin’s Nightmare Year Comes to an End After the massive bull market of 2021, in which bitcoin skyrocketed to an all-time high of...

Popular cryptocurrency exchange Huobi will lay off a significant portion of its workforce and cut the salaries of senior employees, according to Chinese reporter Colin Wu. Last month, the exchange debunked speculation that it would slash its headcount because of the high number of employees at the company. But people familiar with the matter have confirmed that Huobi will move forward with the plan while also cutting the paychecks of its senior executives. Huobi to Cancel...

Emiliano Grodzki has stepped down as CEO of leading Bitcoin mining firm Bitfarms, joining a long list of crypto executives who resigned from their positions amid the bear market this year. The mining company named Geoffrey Morphy as its new CEO, promoting him from his role as president and chief operating officer (COO). “Our foundational work over the last years built the strength and depth of skills we needed to navigate external factors. I’m even more optimistic today...

Sam Bankman-Fried (SBF), the disgraced founder and former CEO of bankrupt cryptocurrency exchange FTX, has reportedly cashed out $684,000 worth of crypto assets despite court restrictions on spendings above $1,000. On-chain DeFi analyst BowTiedIguana took to Twitter to unravel the location where SBF transferred the funds. Following the Money Trail After Bankman-Fried’s $250 million bail last week, the FTX boss sent all the ether (ETH) in his public wallet to a new wallet...

Last month, the Solana ecosystem was at the forefront of the FTX saga, taking a significant hit from the company’s bankruptcy filing. Since then, projects have left the network, while the native token lost a significant chunk of its USD value. Interestingly, the blockchain, once regarded as an “Ethereum Killer,” has received support from Ethereum co-founder Vitalik Buterin. In a Twitter post on December 29, Buterin said the recent events in the crypto industry had washed away...

The last week of 2022 ends with a bang but not in terms of price action, which remains as dull as possible. However, it was marked by multiple events, so let’s dive in. First things first, Michael Saylor’s MicroStrategy seems far from being done with buying BTC. The company revealed another purchase of more than 2,000 bitcoins, bringing its total to more than 132K. It’s also worth noting, though, that the company also sold around 700 BTC for the first time ever – for tax...

FTX Japan, the Japanese division of the bankrupt crypto exchange, plans to re-enable customers’ withdrawals in mid-February next year after suspending the service last month due to the bankruptcy filing of its parent company. FTX Japan earlier pledged to build a new system different from the one used by its parent company to enable customers to access their funds on the platform. FTX Japan Collaborates With Liquid to Repay Customers  According to a recent update, the exchange...