The price of Bitcoin (BTC) fell by 11.5% from Aug. 16 to Aug. 18, resulting in $900 million worth of long positions being liquidated and causing the price to hit a two-month low. Before the drop, many traders expected a breakout in volatility that would push the price upward but this was obviously not the
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Multichain bridging protocol LiFi has launched a multi-message aggregator for decentralized autonomous organization (DAO) governance, according to an Aug. 17 announcement from LiFi research lead Arjun Chand. If implemented by decentralized exchanges, lending apps and other Web3 protocols, the new aggregator should help prevent governance attacks that originate from cross-chain bridges, according to the aggregator’s
While the cry for crypto regulation is becoming ever louder in much of the world, and regulation by enforcement is a controversy, a report prepared for the New Zealand Parliament has recommended a slow, agile approach. The report was commissioned by the Finance and Expenditure Committee of the New Zealand House of Representatives in 2021
A tight range usually resolves with a range breakout and that is what happened in Bitcoin (BTC) on Aug. 17. Bitcoin fell sharply, resulting in a $1 billion liquidation for derivatives traders, the biggest since the FTX collapse in 2022. It is difficult to pinpoint any specific reason for the sell-off but analysts believe that the
According to Bloomberg, in a key development for the cryptocurrency industry, the US Securities and Exchange Commission (SEC) is reportedly set to allow the launch of exchange-traded funds (ETFs) based on Ethereum (ETH) futures. This move marks a significant win for numerous firms that have long sought to introduce such products. While the SEC has
SpaceX’s Bitcoin write-down report on Aug. 18 sparked confusion among the crypto community. The report published in Wall Street Journal puzzled many, who questioned whether SpaceX held $373 million worth of Bitcoin and sold it in 2021-22 or whether they only reduced their Bitcoin exposure by the same amount. Several social media outlets reported that
The Bitcoin (BTC) and Ether (ETH) price slump on Aug .18 saw the top two cryptocurrencies fall to a 2-month low and triggered a series of liquidations for thousands of derivative traders. The crypto bloodbath led to billions of dollars worth of hedged positions being liquidated and several traders lost millions of dollars in a
Crypto exchange Binance is considering legal action against its former payment provider Checkout.com, a spokesperson for Binance told Cointelegraph on Aug. 18. The potential legal dispute arises from letters sent by Checkout.com to Binance on Aug. 9 and Aug. 11. According to a Forbes report, Guillaume Pousaz, CEO of Checkout.com, ended the relationship with Binance,
Bitcoin (BTC) stayed near two-month lows at the Aug. 18 Wall Street open as markets came to terms with extreme liquidations. “Drying liquidity” costs BTC price key support Data from Cointelegraph Markets Pro and TradingView showed BTC price action tracking sideways after a single daily candle spawned 8% losses. The largest cryptocurrency saw a cascade
Update (Aug. 18 at 2:09 pm UTC): This article has been updated with both sides’ perspectives and additional information. Further commentaries are expected from both sides. Crypto influencer Evan Luthra has brought a lawsuit against crypto exchange Bitget for freezing his account after a new token listing in March. According to Luthra, the exchange suspended
In a filing dated August 4, Valkyrie applied to add an Ethereum futures ETF to its Bitcoin Strategy ETF (BTF). However, it would seem this move was pushed back by the SEC as the asset manager has now filed a separate application to offer an Ether futures ETF. Valkyrie Moves To Offer Ethereum Futures ETF
This week’s episode of Cointelegraph’s Market Talks welcomes Huf, the founder of Pear Protocol, a new decentralized exchange launching on Arbitrum in 2023. Huf worked as an equity derivatives trader for various investment banks for over a decade before entering the decentralized finance industry in 2019. He is often quoted in various news outlets for his
ChatGPT, a major large language model (LLM)-based chatbot, allegedly lacks objectivity when it comes to political issues, according to a new study. Computer and information science researchers from the United Kingdom and Brazil claim to have found “robust evidence” that ChatGPT presents a significant political bias toward the left side of the political spectrum. The
Elon Musk’s SpaceX reportedly selling its Bitcoin (BTC) holdings, the bankruptcy of a Chinese property giant and fears of interest rate hikes have been among the theories raised as to Bitcoin’s freak price dip. On Aug. 18 around 9:35 pm UTC, the price of Bitcoin suddenly plummeted over 8% in a span of 10 minutes,
SpiritSwap, a decentralized exchange (DEX) on Fantom, will no longer shut its doors in September after having treasury funds stuck on troubled cross-chain protocol Multichain. In an Aug. 16 community vote, SpiritSwap users passed a resolution to transfer the project to Power, a fellow nonfungible token platform and DEX that is also based on Fantom.
The team behind the newly released Shibarium mainnet has denied reports of bridge problems and asset losses, saying screenshots floating around the crypto community are false. In a blog post on Aug. 17, Shytoshi Kusama, co-founder of the Shiba Inu ecosystem, blamed a massive influx of transactions and user activity for causing technical difficulties on
The price of Ether (ETH) surged around 11% to $1,700 following news that the United States Securities and Exchange Commission is set to allow the first exchange-traded funds (ETFs) based on Ether Futures. According to an Aug. 17 report from Bloomberg — which cited anonymous sources familiar with the matter — the regulator does not look
Our weekly roundup of news from East Asia curates the industry’s most important developments. On Aug. 11, a Chinese individual known only as Mr. Chen was sentenced to nine months in prison after helping his friend, Mr. Lin, purchase 94,988 Chinese yuan ($13,104) worth of Tether (USDT) and earning a commission of 147.1 Yuan ($20.24).
In the ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC), Judge Torres has granted the SEC’s request to file an interlocutory appeal. The decision, based on a review of the parties’ letters dated August 9 and 16, 2023, marks a significant milestone in the case. The SEC’s successful request
Episode 16 of Hashing It Out explores one of the most popular cryptocurrency use cases: payments. Mark Smargon, CEO of Fuse, joins host Elisha Owusu Akyaw to discuss various Web3 payment solutions and how Fuse contributes to businesses’ adoption of cryptocurrency payments. Smargon explained that the payment network’s strategy involves looking beyond investments to focus
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