Cryptocurrency

Burniske’s tweet signifies that while the market is at the beginning of a robust phase, it is unrealistic to expect the momentum to remain at this peak. Historically, markets, whether crypto or traditional, have their ups and downs. Periods of rapid growth are often followed by cooling off phases where the market consolidates before deciding its next direction.Source: Diving deeper into Burniske’s thoughts, he categorizes prominent cryptocurrencies into two groups: “BTC and ETH the OG crypto barbell” and “SOL and TIA the integrated + modular barbell.” This classification suggests that while Bitcoin (BTC) and (ETH) remain the old guards of the crypto world, Solana (SOL) and TIA represent next-gen blockchain platforms that bring a blend of integrated and modular functionalities.However, a second opinion on Burniske’s thesis might argue that while BTC and ETH have proven their resilience and market appeal over time, it is premature to place newer entrants like SOL and TIA in the same bracket. These newer platforms, although promising, need to stand the tests of time, market volatility and regulatory challenges.The crypto market chart further illustrates overall market sentiment. The market cap graph indicates sustained growth, hinting at bullish sentiment. However, the 24-hour volume graph showcases volatility with sharp peaks and troughs. The Bitcoin dominance chart reveals a steady share of BTC on the market, while the CMC Crypto Fear & Greed Index oscillates between “greed” and “neutral,” indicating that while traders are optimistic, they remain cautious.This article was originally published on U.Today More

The FATF placed Turkey on its grey list in 2021. According to a report, during a discussion with a parliamentary commission on Oct. 31, Turkish Finance Minister Mehmet Simsek said a FATF report determined that Turkey adhered to all but one of the 40 standards set by the watchdog.Continue Reading on Cointelegraph More

According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase (NASDAQ:COIN). The assets include 46.5 million of The Graph’s GRT (GRT) ($4.85 million), 972,073 Render (RNDR) ($2.3 million) and 708.1 Maker (MKR) ($967,000).Continue Reading on Cointelegraph More

The Collins dictionary defines AI as “the modeling of human mental functions by computer programs.” The dictionary publisher described AI-powered language models as “bursting into the public consciousness” at the end of 2022.Continue Reading on Cointelegraph More

Securities like BTCO are often added to the National Securities Clearing Corporation (NSCC) security eligibility file in anticipation of a potential market launch. However, the DTCC clarified that such an addition does not imply an endorsement of the product or guarantee future approval. This step does not provide any assurances regarding the outcomes of regulatory approval processes.Alongside Invesco and Galaxy, BlackRock (NYSE:BLK) has also submitted an application for a spot Bitcoin ETF, which is currently listed on the DTCC register. This listing signifies an intermediary bank’s intention to acquire a DTCC designation, contingent upon approval from the Securities and Exchange Commission (SEC).Due to heightened attention, BlackRock’s application was briefly delisted for further scrutiny but has since been reinstated. However, it should be noted that being on the DTCC list does not ensure successful navigation through necessary regulatory or other approval processes.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Buterin has been selling ETH in small portions — 400 ETH on Coinbase in September — and he has moved 100 ETH there now. According to the aforementioned source, Vitalik sold 100 ETH for $181,000 at the price of $1,810 per coin.In August this year, Buterin deposited approximately 600 ETH (worth roughly $1 million) to Coinbase. On Oct. 7, he moved 1,000 ETH to the Bitstamp exchange and sold it for roughly $1.64 million. Overall, Buterin’s wallet transferred 4,400 ETH to that centralized crypto exchange in September and October, per data shared by “Smart Money” tracker @lookonchain. This amount of ETH is the equivalent of approximately $7.23 million.Since Oct. 24, after experiencing a peak of 12.87% rise within 48 hours, when ETH surged to $1,848, Ethereum has lost 2.3% in total, still trading above the .In late October, the above-mentioned source reported that several new wallets made a remarkable ETH purchase on exchanges as they withdrew 47,760 ETH worth $82.97 million at that time to their cold wallets.The grounds for making this bold prediction were the leading role of the Ethereum blockchain in the world of smart contracts, gaming, DeFi and the tokenization of traditional assets.Also, recently, several large fund managers submitted filings to the U.S. regulatory agency, the SEC, to get permission to launch Ethereum spot ETFs. Many market players expect that should they be approved, the ETH price may skyrocket. So far, the SEC has around a dozen filings for Bitcoin spot ETFs under consideration, but Mike Novogratz, head of Galaxy Digital, expects the first BTC ETF to be approved this year.This article was originally published on U.Today More

NEW YORK (Reuters) – Sam Bankman-Fried’s fraud trial is in the homestretch, with U.S. prosecutors and defense lawyers expected on Wednesday to present closing arguments to jurors over whether the FTX cryptocurrency exchange founder stole billions of dollars from customers.Bankman-Fried, 31, may learn his fate just shy of one year after FTX filed for bankruptcy in a swift corporate meltdown that shocked financial markets and wiped out what had been his estimated $26 billion fortune. Prosecutors have accused him of stealing $8 billion in one of the biggest financial frauds in U.S. history.His lawyers rested their case on Tuesday after Bankman-Fried underwent a second day of tough cross-examination by the prosecution – the risk he ran by opting to testify in this own defense. Bankman-Fried, who pleaded not guilty to two counts of fraud and five counts of conspiracy, tried over three days of testimony to convince the 12 jurors of his innocence.In all, the jury heard 15 days of testimony in Manhattan federal court. Three of Bankman-Fried’s former close confidantes, testifying for the prosecution after entering guilty pleas, said he directed them to commit financial crimes, including helping his crypto-focused Alameda Research hedge fund siphon FTX customer deposits and lying to lenders and investors about the finances of the two companies.Prosecutors have said Bankman-Fried used the money he looted from customers to pay off Alameda lenders, make speculative investments and donate to U.S. political candidates. They also have said he lured customers to FTX with false promises that the exchange prioritized keeping their funds safe and did not give Alameda favored treatment, and gave false assurances about FTX’s health to slow a wave of withdrawals.Under questioning from his lawyer Mark Cohen, Bankman-Fried portrayed himself as a busy CEO who left operational nuts and bolts to subordinates. He also maintained that while he made mistakes that harmed customers and employees, he never defrauded anyone or stole money.Danielle Sassoon, one of the prosecutors, tried to counter that narrative by grilling Bankman-Fried about statements he made before his December 2022 arrest about the safety of customer funds and Alameda’s independence from FTX. Sassoon contrasted that with testimony from prosecution witnesses that he directed FTX employees to give Alameda special privileges that let the exchange spend billions of dollars in customer funds. During his second day of testimony on Monday – when the prosecution began its cross-examination – Bankman-Fried said “I don’t recall” at least 28 times. U.S. District Judge Lewis Kaplan frequently chided him for evading direct answers.Closing arguments probably will take several hours, and jurors are not expected to get the case before Thursday.Bankman-Fried could face decades in prison if convicted on all counts. He has been jailed since August after Kaplan revoked his bail, having concluded that he likely tampered with witnesses. More

This emerges from the results of a survey published by the Bank of Spain entitled “Study on the habits in use of cash.” The survey was conducted by Ipsos in two groups, totaling 1,600 respondents: the general public and the representatives of small businesses. It also included questions on the digital euro, a potential pan-EU central bank digital currency (CBDC).Continue Reading on Cointelegraph More