Cryptocurrency

BNB’s intraday rally to a 5-month high quickly reversed as additional information about the DOJ’s settlement with Binance emerged. Continue Reading on Cointelegraph More

An internal memo from OpenAI vice president of global affairs Anna Makanju, as seen on Nov. 20 by Bloomberg, said top management is trying to unify the staff, currently in upheaval over recent events. Continue Reading on Cointelegraph More

The attention on Cardano came as StakeWithPride highlighted its frequent mentions in the legal documents, which has led to heightened scrutiny among investors and traders. Meanwhile, Tony Edward pointed out that XRP and Ethereum (ETH) were not listed as securities in the lawsuit, which contrasts with other cryptocurrencies such as Axie Infinity (AXS) and Algorand (ALGO), based on a chart from TradingView.Other cryptocurrencies also felt the impact of the ongoing legal developments, with Solana (SOL) dropping to $55.71 and NEAR Protocol (NEAR) declining to $1.92 at one point during the day. However, both managed to maintain an upward trajectory over the past week, posting gains of +0.81% for SOL and an impressive +18% for NEAR, respectively.The case against Kraken has become a focal point for the crypto community as it may set precedents for how digital assets are classified and regulated in the United States. The outcome could have significant implications for the industry, influencing both market sentiment and the regulatory landscape moving forward.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Arbitral International, a company registered in the British Virgin Islands, has sued Britannia over a $1 billion deposit from Tether, the Financial Times reported on Nov. 21, citing court documents filed in the High Court of Justice in London in 2023.Continue Reading on Cointelegraph More

The largest of these transactions involved Ripple transferring 90 million XRP, valued at approximately $55.24 million, to an unknown wallet. Two other major transfers included moving 85 million XRP worth $51.99 million and sending 25.5 million XRP to the Bitstamp exchange in Luxembourg City. These transfers contributed to a cumulative weekly drop of over 8% in XRP’s value.Despite the recent price fall and a modest decrease of 1.46% to $0.6098 earlier today, some analysts remain optimistic about XRP’s potential for recovery. Crypto analyst Dark Defender projected an upswing for the digital currency in the near term.In contrast to Ripple’s active transactional movement, reports from the Basel Committee on Banking Supervision reveal that Polkadot has overtaken Ripple in terms of bank exposure percentages within the total $10.27 billion in crypto assets held by banks.Amidst these developments, Fed Vice Chair Michael Barr highlighted the risks cryptocurrencies pose to banking institutions, especially those with stringent digital asset management policies.Ripple’s recent legal victory against the SEC and its international expansion efforts have not significantly boosted institutional investment compared to other cryptocurrencies. While Ripple has secured only $0.5 million in investment inflows, Cardano and Litecoin have attracted $0.8 million and $0.4 million, respectively.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Despite only being up 13.6% for the year, DOGE’s 33.2% gain over the last month has put the asset on some analysts’ radar. Continue Reading on Cointelegraph More

Coinbase has faced scrutiny from the Securities and Exchange Commission (SEC) since June 6th over allegations of operating an unregistered securities exchange. However, the company’s share value has not faltered; instead, it has been strengthened by a series of legal victories within the cryptocurrency industry.Investors are keenly watching the first half of 2024 when the next Bitcoin Halving is anticipated. This event, which reduces the rate at which new Bitcoins are created, is expected to lead to a decrease in supply and potentially an increase in Bitcoin’s price, positively impacting COIN stock.The exchange is also witnessing growing institutional interest. CEO Brian Armstrong noted that sovereign wealth funds are beginning to diversify into crypto, pending wider regulatory approval. This trend is bolstered by BlackRock (NYSE:BLK)’s engagement and the prospect of Bitcoin ETFs, which could further solidify Coinbase’s position in the market.Highlighting Coinbase’s financial health, investment expert Seth Klarman has taken a stake in the company, which boasts a robust cash reserve of $5 billion that exceeds its debt. This positions Coinbase as a ‘Cash Cow’ according to industry observers, with prudent corporate actions setting it apart.In addition, amidst global inflation concerns, Bitcoin has proven to be a formidable asset. It has surged by 351% against the Argentine Peso year-to-date, showcasing its potential as a hedge against inflation and currency devaluation in various countries.Coinbase Global’s recent performance presents a compelling narrative for investors, underscored by robust returns and a volatile yet upward-trending stock price. According to InvestingPro data, Coinbase has experienced a notable 7.56% return over the last week and a staggering 140.24% return over the last year, highlighting the company’s strong short-term momentum and significant appreciation in value over a longer period.InvestingPro Tips suggest that the stock’s movements have been quite volatile, which may appeal to traders looking for short-term opportunities. Moreover, analysts have revised their earnings upwards for the upcoming period, indicating a positive outlook on the company’s financial prospects. While Coinbase is not expected to be profitable this year and has not been profitable over the last twelve months, the company’s growth narrative remains intact, with a 32.67% return over the last month and a 74.45% return over the last six months showcasing investor confidence.For those seeking a more in-depth analysis, InvestingPro offers additional tips, with a current count of over ten insights available to subscribers. As part of a special Black Friday sale, InvestingPro subscriptions are now available with a discount of up to 55%, providing investors with a timely opportunity to access comprehensive data and expert insights that can inform their investment decisions.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The court-sanctioned transition marks a potential exit from bankruptcy for Celsius and involves the creation of a new entity, Mining NewCo, dedicated to Bitcoin mining operations. Shares for a new Bitcoin-focused public entity are also planned to be registered for its customers, signaling a shift in business focus for the embattled cryptocurrency lender.Celsius Network’s pivot replaces a previous agreement with Fahrenheit LLC following their $2 billion bid. The company is now preparing to seek court approval for this strategic shift and, pending SEC regulatory clearance, aims to begin creditor distributions by January 2024.Customer skepticism remains high about this change in direction to Bitcoin mining. Celsius has prepared an alternative liquidation plan that could be implemented if it encounters regulatory challenges. This cautious approach reflects the complex nature of cryptocurrency regulations and the company’s commitment to finding a viable path forward for its customers and creditors.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More