News - Page 37

According to recent data from Lookonchain, FTX and Alameda Research have transferred assets worth $27.2 million as of October 31. This includes RNDR ($17.93 million), SOL ($4.7 million), ETH ($2 million), MKR ($1.18 million), REN ($1.12 million), and GRT ($0.27 million).

In a significant development, Bittrex, a prominent cryptocurrency exchange, has secured court approval for its revised bankruptcy plan under Chapter 11. This approval allows Bittrex to effectively wind down its U.S. operations and fulfill its obligations to creditors.

Mexico's bond market is a lucrative opportunity for investors, being the second largest in Latin America after Brazil. With $623 billion in outstanding debt and an average daily trading volume of $200 million, it is also one of the most liquid markets in the region.

Standard-setters are rushing to introduce norms for stablecoins, which are cryptocurrencies whose value is pegged to that of other assets such as fiat currencies. This urgency has been heightened by recent events, including Facebook's proposal of a stablecoin and the de-pegging of terraUSD (UST) from the U.S. dollar in May 2022, which had significant negative consequences for the crypto world.

Bitcoin has been experiencing a strong uptrend since mid-October, bringing renewed optimism to the cryptocurrency market. The price of BTC has surged by 32.55% from its last swing low of $26,560, reaching a 500-day high of $35,263. However, the rally is facing supply pressure at the $35,000 level, raising concerns about the sustainability of buying interest.

XRP price has been maintaining a bullish outlook for the third consecutive week, showing impressive performance with a 16% surge in the past 30 days. In the last 24 hours alone, the cross-border money remittance token has increased by 7.7% and is currently trading at $0.61.

Solana's native cryptocurrency, SOL, has emerged as the top performer among major crypto assets in October, recording an impressive 50% gain. Furthermore, SOL has experienced a remarkable year-to-date growth of over 250%. This surge in value comes after a period of uncertainty for Solana, following the collapse of FTX, the ecosystem's primary backer, which raised concerns about the blockchain's future.

Former Goldman Sachs executive Raoul Pal believes that Solana (SOL) is poised for significant growth as it prepares for major developments. Pal highlights Firedancer, a new validator client for the Solana chain being developed by trading giant Jump Crypto, as a key factor in Solana's potential scalability and transaction speed improvements. Firedancer aims to increase Solana's transactions-per-second (TPS) capabilities to potentially surpass one million TPS. Pal emphasizes the impressive performance of Solana compared to other cryptocurrencies, describing it as a 'rocket ship' on the charts. He attributes this success to the efforts of the Jump trading team behind Firedancer, who are focused on building lightspeed for high-frequency trading. While there is no set launch date for Firedancer yet, Pal remains optimistic about Solana's future prospects. He suggests that Solana could potentially replicate Ethereum's bull market cycle of 2021 and become a major player in the upcoming market expansion. Pal emphasizes the importance of maximizing opportunities in the current economic climate and sees Solana as a promising investment option. Investors are advised to conduct their own research and exercise caution when investing in Bitcoin, cryptocurrency, or digital assets.

During Bankman-Fried's testimony, the overflow room was captivated by his responses. Not only did his words raise eyebrows, but his demeanor also left a lasting impression. He repeatedly claimed to have no recollection of sharing crucial information about Alameda or creating documents that acknowledged the financial ties between FTX and Alameda. However, each time he made this assertion, AUSA Sassoon would present evidence contradicting his statement. This pattern of evasiveness created an atmosphere of suspicion, despite the fact that other government witnesses, such as Gary Wang and Nishad Singh, also struggled to recall certain details.

The European Union has introduced new rules to enhance consumer protection for crypto firms. These measures will come into effect at the end of next year for companies applying for a new license. Existing companies operating under national law will have an additional 18 months to comply with the new regulations. The aim of these rules is to ensure a level playing field for customers of the approximately 2,000 registered crypto companies in the EU.

In the world of trading, analysts and traders rely on studying price patterns to gain insights into market trends and momentum strength. One such pattern is the triangle pattern, which is often considered a continuation pattern.

In April, Shin was indicted by South Korean authorities for his involvement with a multibillion-dollar crypto enterprise. He was charged with violating capital-markets law. Shin's lawyer stated that he had left the company two years prior to its failure.

The recent breakout of the RUNE price from its long sideways trajectory indicates an early sign of an upcoming bullish trend. This breakout comes after a year-long period of sideways action, suggesting a potential trend reversal. The recovery of the RUNE price is supported by escalating trading volumes and heavy short liquidation.

In a recent research note, Charlie Morris, founder and chairman of ByteTree, highlighted the improving breadth of the crypto market. He mentioned that downtrends are becoming scarce, while uptrends are on the rise. This positive trend could potentially be significant for the crypto industry.

Valkyrie, along with other major asset management firms such as BlackRock, Fidelity, and Ark Invest, has filed an updated spot Bitcoin ETF prospectus in the United States. This move indicates that the U.S. Securities and Exchange Commission (SEC) is actively considering the approval of a spot Bitcoin ETF.

The Bitcoin price is currently consolidating around $34,200 levels, while altcoins like Solana (SOL), Cardano (ADA), and Chainlink (LINK) continue their bullish rally.