Bitcoin (BTC) can easily end up below $25,000 next month, says one longtime market observer. In a new BTC price outlook, Timothy Peterson, founder and investment manager at Cane Island Alternative Advisors, put the odds of a dip to local lows at 50/50. BTC price may see “last big dip” in September While Bitcoin bulls…
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In the most recent episode of The Market Report, analyst and writer Marcel Pechman delves into the topic of crypto exchange Binance’s proof-of-reserves. This report reveals a significant decline in USD Coin (USDC) balances, plummeting from $3.4 billion on March 1 to a mere $23.9 million by May 1. According to insights from on-chain analyst…
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In early August, sources leaked word that officials with the United State Department of Justice were considering fraud charges aimed at Binance, the world’s largest cryptocurrency exchange. However, they indicated, officials are worried that it could cause a run on the market akin to the November 2022 collapse of FTX. Those concerns have not deterred…
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Despite promises of “decentralization” and “trustless ownership,” the vast majority of crypto games today are, at best, partially decentralized. Web3 is the branding, but in reality, most are “Web2+.” Game assets live on-chain, yet the game logic, state and storage remain off-chain on centralized servers. Why? Simply put, it’s not easy to build a fully…
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Amid the approaching deadline for opting out of the current $22-million settlement with Block.one (B1), the EOS Network Foundation (ENF) has called on plaintiffs to drop the lawsuit. The ENF took to X (formerly Twitter) on Aug. 8 to encourage plaintiffs to reject the $22-million settlement from Block.one, the firm that was the original seller…
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Binance continues to experience an increase in regulatory heat as the Federal Government of Nigeria is being urged by the Association of Bureau De Change Operators of Nigeria (ABCON) to prohibit the activities of Binance within the nation. ABCON is a self-regulatory body and an umbrella for all the central bank-licensed Bureaux de Change (BDC).…
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Canadian law enforcement has started using specialized software to trace crypto while investigating cybercrimes. Police now have the ability to trace blockchain transactions, identify suspects and determine where funds have been deposited. As revealed by local police to the Lethbridge Herald newspaper, the police forces are already enjoying access to Chainalysis Reactor software. The program…
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The rise of artificial intelligence (AI) has been subject to growing concerns over identity verification tools at cryptocurrency exchanges. With rapidly evolving AI technology, the process of creating deepfake proofs of identity is becoming easier than ever. The concerns about AI-enabled risks in crypto have triggered some prominent industry executives to speak out on the…
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Bitcoin (BTC) consolidated at a key flip zone on Aug. 9 as BTC price strength staged a sudden return. BTC/USD 1-hour chart. Source: TradingView BTC price toys with $29,700 “party” level Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near $29,800 after a surge during the previous day’s Wall Street trading hours. That…
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According to South Korean news outlet Chosun Biz, Jinwook Shin, the CEO of crypto exchange Bitsonic — who is under investigation for stealing investments and deposits from exchange users — was arrested by South Korean police on Aug.7. The vice president of Bitsonic will also be put on trial without preliminary detention. According to prosecutors, from January…
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