News - Page 45

In recent years, the cryptocurrency market has experienced significant volatility, leading to the collapse of several crypto exchanges and lenders. One such exchange, FTX, faced a similar fate in July 2022. However, it is important to note that FTX was not the only one to suffer. Other prominent players in the industry, including Celsius, Voyager, and BlockFi, also faced bankruptcy.

The XRP community and Ripple Lab's Chief Legal Officer (CLO), Stuart Alderoty, expressed their support for SEC Commissioner Hester Peirce's condemnation of the LBRY lawsuit. Peirce, in a statement of dissent, voiced her concerns about the enforcement actions taken by the SEC against various crypto exchanges, including Ripple, LBRY, Kraken, Binance, and Coinbase.

One of the biggest banks in the US, Bank of America, has come under scrutiny after reportedly refusing to reimburse a customer who had cash stolen from an ATM. The incident gained media attention when the customer, Kyle Fischer, shared his story with local news outlets.

A market intelligence platform has identified several altcoins that are expected to continue rallying as traders focus on Bitcoin (BTC) and Ethereum (ETH). According to crypto analytics firm Santiment, these altcoins are experiencing an increase in new wallet addresses and rising prices.

Billionaire Elon Musk is reportedly aiming to launch financial services on the social media platform X by the end of next year. Musk expects X's comprehensive financial features to roll out by the end of 2024 and compete with traditional banks.

In an effort to alleviate financial hardships and explore the impact of cash handouts, two major metropolitan areas in the United States are implementing guaranteed income programs. With a total of $37.56 million being distributed, these initiatives aim to support individuals and families living below the poverty line.

Strategists at a Wells Fargo subsidiary believe that the US has the potential to develop and launch a central bank digital currency (CBDC) within the next five years. This comes after President Joe Biden signed an executive order authorizing the Federal Reserve to explore CBDC technology.

A crypto analyst has recently examined the charts of Bitcoin (BTC) and Solana (SOL) to provide insights into their current status.

Cardano (ADA) has shown strong performance in the recent recovery rally, surging by approximately 20% from a solid support level of $0.24 to its current trading price of $0.286. This upward movement also coincides with the completion of a bullish double-bottom pattern, indicating the potential for further gains.

Sam Bankman-Fried testified at his fraud and conspiracy trial that he started buying Solana's SOL cryptocurrency at 20 cents using 'Alameda Profits.' He believed that the funds came from Alameda's operating profits, as well as third-party lenders.

One of the biggest crypto hardware wallet providers, Ledger, is launching a new service called Ledger Recover. This service is designed to provide users with a backup of their secret recovery phrase, which is crucial for restoring access to crypto wallets in case the hardware device is lost or damaged.

The CoinDesk Computing Sector (CPU) emerged as the top-performing pocket of digital assets, with a significant increase of over 17%. This sector focuses on protocols that aim to develop and support the infrastructure of Web3 and distributed computing.

New data reveals that deep-pocketed crypto investors are shifting hundreds of millions of dollars worth of crypto assets, including Bitcoin (BTC) and Dogecoin (DOGE).

Crypto trader Ali Martinez predicts that Bitcoin (BTC) is poised for an upward move, but a temporary dip may occur first. According to Martinez, Bitcoin is likely to break above the upper trendline of a bullish ascending triangle. However, before the breakout, the trader expects Bitcoin to decline to $33,000. This correction is estimated to be around 5%.

Gemini Trust Co., led by the Winklevoss twins, has filed a lawsuit against Genesis and its parent company Digital Currency Group (DCG) over the control of Grayscale Bitcoin Trust (GBTC). This legal battle stems from a dispute regarding the Gemini Earn program, where users could lend digital assets to Genesis Global.

The Bitcoin price has been leading the cryptocurrency market recovery since the third week of October. However, it appears to be stalling at the pivotal $35,000 level, raising questions about the sustainability of the current rally.