Bitcoin (BTC) broke below $16,800 on Dec. 16, reaching its lowest level in more than two weeks. More importantly, the movement was a complete turnaround from the momentary excitement that had led to i$18,370 peak on Dec. 14. Curiously, Bitcoin dropped 3.8% in seven days, compared to the S&P 500 Index’s 3.5% decline in the
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Tesla CEO and Twitter chief Elon Musk has promised to step down as head of Twitter. As the billionaire seeks a new CEO to run the social media platform, privacy advocate Edward Snowden threw his name in the hat, stating that he takes payment in bitcoin. “The question is not finding a CEO, the question
Five wallets tied to the defunct Canadian cryptocurrency exchange QuadrigaCX, previously thought to be inaccessible, have just been spotted moving around $1.7 million worth of Bitcoin after years of dormancy. Crypto researcher ZachXBT alerted the crypto community in a Twitter post on Dec. 19, highlighting the five wallets have transferred around 104 Bitcoin (BTC) on
Former FTX CEO Sam Bankman-Fried, currently in the custody of Bahamian authorities, has reportedly agreed to be extradited to the United States to face charges. According to a Dec. 19 report from Reuters, Bankman-Fried’s legal team said it planned to prepare documents to have him reappear before the Bahamas Magistrate Court sometime this week. The
At a time of bear market-induced uncertainty, crypto investors often tend to stick with Bitcoin (BTC) and Ether (ETH) to evade impermanent losses. As a result, the significant movement of such assets intrigues the community as they try and decipher the intent behind the move. Two addresses that have remained dormant for over four years
According to a Binance blog post, Binance US has entered an agreement with Voyager Digital Ltd., in order to acquire its assets. The announcement details that the acquisition “sets a clear path forward for Voyager customers’ funds to be unlocked as soon as possible.” Binance Reveals U.S. Subsidiary to Purchase Voyager Digital’s Assets for $1B,
The arrest of European Parliamentarian and cryptocurrency proponent Eva Kaili has been labeled as a blow to the ecosystem by prominent blockchain industry participants. Kaili, one of 14 European Parliament vice presidents, was arrested and charged on Dec. 10 by Belgian prosecutors who are investigating allegations of corruption, money laundering and criminal organization involving Qatar
Bitcoin (BTC) stayed rigid below $17,000 at the Dec. 19 Wall Street open as skeptical traders feared more downside. BTC traders call time on upside potential Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering around the $16,700 mark, practically unmoved over the weekend. The pair saw only fractional volatility at the open, as
The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is in the home stretch. Both parties had filed their more than 60-page reply briefs for summary judgment on Nov. 30. Now it’s wait-and-see for the parties involved until Judge Analisa Torres issues a decision. Meanwhile, the spotlight is on the LBRY
Capitulation literally means concede. In the financial sphere, this term reflects a period of aggressive selling when the last of the bulls concede defeat to become bears themselves. What is crypto market capitulation? Suppose a cryptocurrency drops 30% overnight. An investor is left with two options: they can continue to hold or sell to realize
Russian authorities are finding it hard to cash out digital assets they have gotten hold of, prosecutors have warned. They have also urged the government to recognize cryptocurrency as property, allow departments to have digital wallets and use crypto exchanges. Prosecutor’s Office Insists Russian Investigators Should Have Cryptocurrency Wallets Russian prosecutors are convinced that investigative
United States Banking Committee chairman Sherrod Brown has suggested that the Securities Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) should perhaps consider a ban on cryptocurrencies. Brown’s comments were made during a Dec. 18 appearance on NBC’s “Meet the Press,” although the senator quickly added that a ban would be difficult to
Bitcoin (BTC) starts the week before Christmas with a whimper as a tight trading range gives BTC bulls little cheer. A weekly close just above $16,700 means BTC/USD remains without major volatility amid a lack of overall market direction. Having seen erratic trading behavior around the latest United States macroeconomic data print, the pair has
Tel Aviv’s Magistrate Court has reportedly issued a ruling allowing Israel’s government to seize all the crypto in more than 150 digital wallets that it hablacklisted for allegedly funding terrorist groups. According to a Dec. 18 local Israeli media report, Israeli Defense Minister Benny Gantz says the court’s Dec. 15 ruling has already allowed authorities to
The Nigerian government will reportedly soon pass a law that will recognize the usage of Bitcoin (BTC) and other cryptocurrencies as a means to keep up to date with “global practices.” The news was reported by Nigerian-based masthead Punch Newspapers on Dec. 18 following an interview with House of Representatives Committee on Capital Markets Chairman
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Industry experts are confident in DeFi and believe the sector would continue to see adoption despite its security flaws, primarily due to the mammoth failure of centralized exchanges. Despite
Several members of the U.S. Democratic Party and campaign committees are reportedly being probed by federal prosecutors over donations from former FTX CEO Sam Bankman-Fried (SBF) and another executive of the collapsed cryptocurrency exchange. “To any person, entity, or political campaign that has received stolen customer money, we ask that you work with us to
The Securities and Exchange Commission (SEC) was “asleep at the wheel” regarding how FTX Group and its subsidiaries met financial and corporate control requirements, Representative Pete Sessions said in the Saturday Report on December 17. “We need to look at what the Securities and Exchange Commission was doing,” stated the Texas Congressman, adding that “the SEC
After the former 45th president of the United States, Donald Trump revealed his non-fungible token (NFT) trading card collection, Trump’s NFTs sold out within hours after the announcement. Statistics from Opensea, three days after the sale, show that the Trump NFT trading card collection’s floor value is now .49 ether or roughly $578. Trump NFTs
The prosecutors investigating former FTX CEO Sam Bankman-Fried (SBF) have reportedly reached out to top members of the Democratic Party demanding information about the political donations made by the entrepreneur. Democratic members from the Democratic National Committee (DNC), the Democratic Congressional Campaign Committee (DCCC) and Congressman Hakeem Jeffries were contacted by SBF prosecutors for information