Bitcoin’s price has experienced a significant surge over the past month, reaching a new yearly high of $35,000. This represents a 30% increase and is 10% higher than its previous peak this year. However, it is worth noting that the broader cryptocurrency market, excluding Bitcoin, has not been able to keep up with this growth.
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Sam Bankman-Fried, the founder of the now-defunct crypto exchange FTX, recently testified in Manhattan federal court, where his unkempt hair and casual style of dressing came under scrutiny. Bankman-Fried, however, vehemently dismissed claims made by former Alameda Research CEO Caroline Ellison that his appearance was a deliberate strategy to enhance his image. According to Bankman-Fried,
The recent case between the U.S. Securities and Exchange Commission (SEC) and LBRY Inc. has seen Hester Peirce, a commissioner for the SEC, dissent from the agency’s actions. LBRY Inc., the firm behind the LBRY blockchain and content-sharing network, made the decision not to appeal its loss in the case and instead will shut down
The recent crypto market rally has brought about substantial gains for Trellor (TRB), with the digital asset witnessing a surge from a low of $43 to over $115 in just a fortnight. This impressive rally has sparked a surge in interest in TRB, leading to increased momentum for the cryptocurrency. However, not everyone shares this
As we look into the future of 2023, the convergence of Artificial Intelligence (AI) and cryptocurrencies is more than just a topic of discussion among tech enthusiasts – it is emerging as a distinct market category. Major technology players like Microsoft have made significant investments in AI-integrated cryptocurrencies, resulting in a surge of interest in
The legal battle between Coinbase and the U.S. Securities and Exchange Commission (SEC) has gained significant traction, as around 5,000 Coinbase users have signed up as potential amicus curiae. This development was revealed by pro-XRP lawyer John Deaton, who stated that he would file the amicus curiae brief on behalf of these users in the
Australia’s Changjiang Currency Exchange, a money transmitter business, has been involved in a massive money laundering scandal worth 230 million Australian dollars ($145 million). The scandal came to light after a 14-month investigation, which resulted in the arrest of seven individuals, including four Chinese citizens and three Australian nationals. The investigation revealed that Changjiang Currency
U.S. lawmakers are ramping up pressure on the Justice Department to investigate cryptocurrency exchange Binance and stablecoin issuer Tether over allegations of facilitating substantial illicit financing, including funneling funds to terrorist groups such as Hamas. Senator Cynthia M. Lummis and Representative French Hill have written a letter to Attorney General Merrick Garland, urging him to
Binance USD (BUSD), the stablecoin issued by Paxos for crypto exchange Binance, has experienced a significant decline in market capitalization. From its peak in November 2022 at $23.5 billion, the current market cap stands at close to $2.1 billion according to CoinGecko data. This substantial decrease in market cap places BUSD at a much lower
The world of investing is experiencing a profound transformation, primarily driven by the rise of machine learning technologies. This shift is particularly noticeable in volatile markets, where cryptocurrency serves as a prime example. With the advent of advanced machine learning algorithms, traditional financial strategies are being revolutionized, empowering market participants to make more informed decisions