Binance-spearheaded Industry Recovery Initiative (IRI), a co-investment project aiming to support the cryptocurrency industry in the aftermath of the FTX collapse, may not have been as effective as desired, a new report suggests. After announcing the IRI in November 2022, Binance spent $15 million in its BUSD (BUSD) stablecoins out of its total commitments of
The Canadian Bitcoin (BTC) mining company Hut 8 continues to accumulate self-mined BTC amid the ongoing merger deal with the industrial cryptocurrency miner, US Bitcoin (USBTC). Hut 8 mined 111 Bitcoin in September 2023, bringing its self-mined BTC reserves to 9,366 Bitcoin, the firm announced on Oct. 10. The amount of Bitcoin mined by Hut
Bitcoin’s layer 2 Lightning Network has seen an estimated 1,212% growth in two years, with around 6.6 million routed transactions in August, a significant jump compared to August 2021’s 503,000 transitions, according to data from the Bitcoin (BTC)-only exchange River. In an Oct. 10 report, River research analyst Sam Wouters explained the jump in routed
Mainstream Bitcoin (BTC) adoption won’t happen until it bridges to the Ethereum Virtual Machine (EVM) — the first point of entry for many real-world assets moving on-chain, a Web3 executive argues. Speaking to Cointelegraph, the founder of cross-chain infrastructure firm Botanix Labs, Willem Schroé, claimed Bitcoin “needs to start playing in the EVM world” for
Bitcoin (BTC) traders are displaying behavior similar to the 2022 bear market bottom as “uncertain” sentiment rules, new research argues. In one of its Quicktake market updates on Oct. 9, on-chain analytics platform CryptoQuant examined a major drop in realized capitalization of the most active part of the BTC supply. One-month-old BTC supply realized cap
Litecoin price is struggling to gain pace above $66.40 against the US Dollar. LTC could revisit the $60 support before the bulls take a strong stand. Litecoin is correcting losses from the $63 support zone against the US Dollar. The price is now trading below $66 and the 100 simple moving average (4 hours). There
Renowned pro-XRP lawyer, Jeremy Hogan, who has been at the forefront of providing insights into the Ripple vs. US Securities and Exchange Commission (SEC) case over the last years, recently shared a detailed breakdown of possible outcomes in the ongoing legal battle. In his most recent tweet, Hogan, known for his in-depth YouTube video updates,
Christina Campbell, Ripple’s Chief Financial Officer (CFO), has made a surprising exit from the cryptocurrency payments platform to assume a related role at Maven Medical Institution, a digital healthcare provider. Ripple CFO Abruptly Resigns From Company According to Campbell’s LinkedIn profile, her tenure at Ripple concluded in October after over two years with the company.
Lawmakers in Taiwan are reportedly aiming to push out a first draft of a special law by the end of November 2023, according to a report from the Block. Yung-Chang Chiang, an official in the Legislative Yuan of Taiwan, said in an interview that he intends for the first draft to be available for reading
The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset holdings. The committee, which operates under the aegis of the Bank for International Settlements, identified holding crypto as one of the factors that led to the demise of several banks
Bitcoin (BTC) kept up renewed pressure on $28,000 into the Oct. 8 weekly close as geopolitical uncertainty entered traders’ radar. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin behavior at resistance “not the best” Data from Cointelegraph Markets Pro and TradingView showed BTC price performance avoiding downside volatility over the weekend. The pair recovered from a
Payment company Ripple continues to score victories worldwide and expand its services. The Brad Garlinghouse-led company celebrated two major milestones yesterday, one within its borders, the United States, and the second in Asia. Ripple Takes Over Asia According to an official announcement, the payment company received authorization from the Monetary Authority of Singapore (MAS) to
Officials at the United States Commodity Futures Trading Commission (CFTC) were reportedly considering an enforcement action against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. According to an Oct. 6 Bloomberg report, CFTC staff were considering taking action against Ehrlich following an investigation concluding the former CEO violated U.S. derivatives regulations prior
Top Stories This Week Opening arguments begin in Sam Bankman-Fried trial The trial of former FTX CEO Sam “SBF” Bankman-Fried kicked off on Oct. 4 in New York after jury selection began the previous day. Assistant United States Attorney Thane Rehn told jurors that SBF used FTX customer funds to enrich himself and gain credibility
As Hong Kong progresses with the adoption of cryptocurrency trading for individual investors, a local official stressed that retail stablecoin trading is not yet allowed. Hong Kong has not adopted regulations for stablecoins like Tether (USDT) or USD Coin (USDC), which means retail investors are not allowed to trade those assets, according to Hong Kong’s
The price of Ethereum’s native token, Ether (ETH), has gained around 35% so far in 2023. But its attempts to break above $2,000, a psychological resistance level, have witnessed strong bearish rejections multiple times. ETH/USD daily price chart. Source: TradingView Let’s take a closer looks at the three likely reasons why Ethereum price has failed
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