Bitcoin (BTC) broke below $35,000 after the Nov. 2 Wall Street open as analysis warned of “overheated” derivatives. BTC/USD 1-hour chart. Source: TradingView Bitcoin undoes post-Fed gains Data from Cointelegraph Markets Pro and TradingView tracked a retreating BTC price as it erased ground it reclaimed overnight. The largest cryptocurrency had hit new 18-month highs of
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Closing arguments for the criminal trial of Sam Bankman Fried (SBF), the disgraced founder of crypto exchange FTX, have officially concluded with U.S. Southern District of New York Judge Lewis Kaplan moving to jury instructions. As per the indictment from last December, Bankman-Fried faces a total of seven charges, including two counts of wire fraud
Switzerland’s St.Galler Kantonalbank (SGKB), one of the largest banks in the country, is moving into cryptocurrency by introducing Bitcoin (BTC) and Ether (ETH) trading to its customers. SGKB has partnered with the global cryptocurrency-focused bank SEBA to offer its clients digital asset custody and brokerage services. Announcing the news on Nov. 1, SGKB and SEBA
Payment giant PayPal has received a subpoena from the United States Securities and Exchange Commission (SEC) regarding its U.S. dollar-pegged stablecoin. The Enforcement division of the SEC has sent a subpoena to PayPal related to its PayPal USD (PYUSD) stablecoin, the firm disclosed on Nov. 2, according to a report by Reuters. The action comes
The Securities and Futures Commission (SFC) of Hong Kong has issued two circulars to regulate digital asset tokenization. The circulars offer instructions to intermediaries participating in tokenized securities activities and outline the criteria for tokenizing investment products authorized by the SFC. The SFC considers tokenized securities as traditional securities with a tokenization layer. As a result, the
Solana (SOL) has posted 30-day gains of nearly 81%, and has rallied over 30% in the past week amid the testnet launch of the blockchain’s loawaited scaling solution Firedancer. SOL reached over $41 on Nov. 2 touching highs it hasn’t seen since August last year, Cointelegraph Markets Pro data shows. Long touted as an “Ethereum
Iris-scanning project Worldcoin has reached a new milestone, as its mobile World App has now been downloaded over 4 million times, according to a November 1 blog post from the project’s team. If this number is eventually confirmed by Coingecko, it could place World App in sixth place in Coingecko’s list of most downloaded software
Business intelligence firm MicroStrategy has notched a paper gain of $900 million on its stack of 158,400 Bitcoin, spurred by optimism over the potential approval of spot Bitcoin exchange-traded funds. The Michael Saylor-founded firm added 6,067 Bitcoin (BTC) since the third quarter, including another 155 in October, according to MicroStrategy’s Nov. 1 results filing. In October, @MicroStrategy
The United Kingdom’s global summit on artificial intelligence (AI) safety, “AI Safety Summit” began on Nov. 1 and will carry on through Nov. 2 with government officials and leading AI companies from the world in attendance, including from the United States and China. U.K. Prime Minister Rishi Sunak is hosting the event, which is taking
Ether (ETH) price has declined by 14.7% since its peak at $2,120 on April 16, 2023. However, two derivatives metrics indicate that investors have not felt this bullish in over a year. This discrepancy warrants an investigation into whether the recent optimism is a broader response to Bitcoin (BTC) breaking above $34,000 on Oct. 24.
Patrick Amadon combines a passion for art and activism, and is articulate about how he intends for his work to have impact. Self-described as a “digital disobedient,” the Los Angeles-based glitch artist has been no stranger to controversy, having made international headlines for his “No Rioters” digital billboard displayed at the Hong Kong Art Week
The price of Ethereum’s native token, Ether (ETH) is trading around a 15-month low versus Bitcoin (BTC), and the lowest since Ethereum switched to proof-of-stake (PoS). Cointelegraph takes a closer look at some of the reasons for the continuous drop of the ETH/BTC pair. Ether’s historical price action has changed In previous market cycles, Ethereum
Bitcoin (BTC) skyrocketed 28.5% in October, its second-best monthly gain of the year behind the 40% rally in January. After the strong showing in October, the next question on investors’ minds is, could the bullish momentum continue and Bitcoin extend its recovery going forward? Bernstein said in a note on Oct. 31 that Bitcoin could
The United States Securities and Exchange Commission (SEC) announced Nov. 1 that it was charging SafeMoon and three of its executives with fraud and unregistered securities sales in connection with its SafeMoon token. The Justice Department unsealed charges against the men at the same time. According to SEC allegations, SafeMoon creator Kyle Nagy, CEO John Karony and
The reserves for stablecoin issuer Tether contained approximately 86% cash and cash equivalents as of September 30, according to a new attestation report from accounting firm BDO. This is the highest percentage of cash and cash equivalents that have ever made up Tether’s reserves. Tether today releases its attestation for Q3 /2023.- cash & cash
The crypto wallets linked to now-defunct crypto exchange FTX and its sister trading firm Alameda Research have sent over $13 million in different altcoins to numerous crypto exchanges early on Nov. 1. According to data from on-chain analysis firm Spotonchain, the FTX wallet first transferred $8.12 million worth of altcoins to Coinbase. The assets include
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