News - Page 22

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.

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.

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%.

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.

The energy usage debate has generated significant discussion and concern in recent years. However, the negative impact of this debate may not be as pronounced as initially anticipated. This article explores the key points raised by Amanda Fabiano, former head of mining at Galaxy Digital and industry consultant, regarding the impact of the energy usage debate.

Bitcoin's potential significant upside risk has a short expiration date. Analysts, led by Yukari Kusu, explain that there are two possible scenarios for Bitcoin's price movement.

The XRP price recently broke through a key resistance at $0.55, signaling the potential for further bullish momentum. However, with Bitcoin facing resistance at $35,000, altcoins like XRP are experiencing selling pressure, putting its recent gains at risk.

A widely followed crypto analyst has issued a warning about the future of altcoins in the crypto market. The analyst, known as Credible Crypto, believes that if Bitcoin (BTC) continues its upward momentum, altcoins may fizzle out. While not mentioning any specific digital assets, Credible Crypto cautions investors not to get caught up in altcoin pumps that occur when BTC is going sideways between major price increases.

In the trial of the former billionaire, the judge has limited the defense's ability to use an advice-of-counsel defense. The defense lawyers had sought to introduce this defense across all topics, but the judge has only allowed them to discuss FTX's document retention policy. This means that the defense will not be able to present evidence or arguments related to advice given by lawyers in other areas. The judge's decision narrows the scope of the defense's strategy and may impact their ability to present a comprehensive case. It is important for the defense to carefully consider how they will present their arguments within the limitations set by the judge.

The Department of Justice (DOJ) has consistently opposed SBF's defense strategy in the ongoing case. They argue that this strategy is irrelevant and could potentially distract the jury from the main crime: an $8 billion embezzlement scheme that SBF is accused of.