The bankruptcy proceedings of cryptocurrency exchange FTX have revealed many new aspects of its unethical practices. The latest revelation around its stake in one of the smallest United States banks from rural Washington has raised fresh concerns about its operations and alleged misuse of banking loopholes. Farmington State Bank in Washington State, now renamed Moonstone,…
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Bitcoin (BTC) may follow stocks on a “massive bull run” as the weekly chart delivers a unique sign of strength. The latest analysis from several well-known crypto names suggests it is time to give up the bear market narrative. Despite everyone talking about a new macro BTC price low, possibly at $12,000, new perspectives demand…
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Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis. Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has yet to be finalized…
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With the FTX contagion affecting various sectors of the global crypto ecosystem, Dubai-based industry leaders commented on how the debacle will affect the budding crypto hub within the United Arab Emirates (UAE). From stricter regulations to better projects leading the way, various professionals gave their perspectives on how Dubai and the UAE’s crypto landscape will…
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As Uzbekistan prepares to adopt a new cryptocurrency framework in 2023, the Uzbek regulators have started issuing regulatory approvals to local crypto service providers. The National Agency for Perspective Projects (NAPP), Uzbekistan’s major cryptocurrency market watchdog, has issued the nation’s first crypto licenses, according to an official announcement released on Nov. 17. The licenses officially…
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With digital asset management firm Grayscale refusing to provide proof of reserves for its Grayscale Bitcoin Trust (GBTC), an independent analyst has spent days combing through the blockchain to independently verify its holdings. The OXT Research analyst, Ergo, used on-chain forensics to confirm that as of Nov. 23 that the GBTC owns approximately 633,000 Bitcoin…
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Belgium’s financial regulatory body has confirmed its position that Bitcoin (BTC), Ether (ETH) and other cryptocurrencies that are issued solely by computer code do not constitute securities. The explanation came from Belgium’s Financial Services and Markets Authority (FSMA) in a Nov. 22 report, a draft of which was opened for comment in Jul. 2022. The…
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The International Monetary Fund (IMF) is calling for increased regulation of Africa’s crypto markets, one of the fastest-growing markets in the world, the global institution blog reported on Nov. 22. Among the reasons why countries in the region should embrace regulation, the monetary fund cited the collapse of FTX and its ripple effect in cryptocurrencies…
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Bitcoin (BTC) stayed undecided at the Nov. 24 Wall Street open as one trader reinforced a $12,000 BTC price target. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price “main target” for bottom $12,000-$14,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $16,500 as an eerie calm continued on the market. The pair…
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Although Bitcoin (BTC) mining remains a controversial topic, it’s becoming more common to hear how Bitcoin mining can help balance grid demand. This is being demonstrated in the state of Texas, as Bitcoin miners are able to participate in demand response programs, which incentivize miners to turn off their operations during peak demand. A spokesperson…
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