FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, CEO John Ray said in the FTX Debtors’ second interim report, released June 26. The extensive commingling of funds complicates their efforts, however. The FTX Debtors, made up of FTX and affiliates, currently estimate the amount
The Canadian Bitcoin (BTC) mining company, Hut 8 Mining, has secured a credit facility from a subsidiary of the United States-based cryptocurrency exchange, Coinbase. Hut 8 officially announced on June 26 that it entered into a $50 million credit agreement with Coinbase Credit as lender. The credit facility involved Hut 8’s subsidiary, Hut 8 Holdings,
Ethereum zero-knowledge proof scaling system zkSync Era has unveiled its answer to Optimism’s Superchain concept in the form of ZK Stack. It’s a modular framework for a series of ZK-powered custom blockchains called yperchains, which will operate as a new layer on top of the existing layer-2 protocol. The chains will be composable and interoperable,
Binance has decided to reverse its plan to delist a number of privacy coins in Europe after it said it has revised operations in order to comply with local regulations. In a comment from the cryptocurrency exchange recevied on June 26, Binance said that: “After carefully considering feedback from our community and several projects, we
The United Arab Emirates is becoming the next big focus for Binance in the wake of a slew of enforcement actions in the United States against the crypto exchange. Speaking to Cointelegraph, Binance Dubai general manager Alex Chehade said the UAE is a prime destination for crypto businesses seeking a clear path forward and noted
Bitcoin (BTC) exchange-traded fund (ETF) fervor is back with a raft of new applications and an increase in capital inflows from institutional investors. On June 26, a surge of inflows to the ProShares Bitcoin Strategy ETF (BITO) — a Bitcoin futures fund — was observed by Bloomberg senior ETF analyst Eric Balchunas. The fund had
The Australian Treasury’s token mapping of digital assets will adopt a “tech agnostic” and “principles-based” approach in order to define crypto assets, according to a Treasury official. Speaking to Cointelegraph on June 26 at the Australian Blockchain Week, Trevor Power, an Australian Treasury Assistant Secretary said the framework will be structured to easily classify tokens
Huobi co-founder sues own company for copyright infringement According to local news reports on June 21, Leon Lin Li, former co-founder of cryptocurrency exchange Huobi Global, has filed a copyright infringement lawsuit against the company in Hong Kong. Li claims that despite selling his majority stake to an entity controlled by Chinese blockchain personality Justin
Alert 🚨 Insane crypto bull run is coming! This is without doubt one of the most bullish weeks I have ever seen in crypto. This week the institutional whales have entered the arena all wanting a slice of the crypto pie making me even more certain the next cryptocurrency bull run will be the biggest
United States Government bonds, or Treasurys, have a tremendous influence across all tradeable markets, including Bitcoin (BTC) and Ether (ETH). In that sense, risk calculation in finance is relative, so every loan, mortgage and even cryptocurrency derivatives depend on the cost of capital attributed to U.S. dollars. Assuming the worst-case scenario of the U.S. government
Bitcoin (BTC) made a new 52-week high on June 23, indicating that bulls are on fire. Buyers have managed to hold onto a large part of the gains made during the week, signaling that they are in no hurry to book profits. Bitcoin climbed 16% this week, outperforming the S&P 500 Index, which fell 1.39%.
Fabio Panetta, an executive board member of the European Central Bank (ECB), has suggested a dark future for cryptocurrencies, in which the digital assets may be used for little more than gambling among investors. In written remarks for a panel at the Bank for International Settlements Annual Conference on June 23, Panetta said crypto’s perception
Bitcoin (BTC) tapped $31,000 for a third time this year on June 25 as the weekly close promised volatility. BTC/USD 1-hour chart. Source: TradingView BTC price challenges $31,000 Data from Cointelegraph Markets Pro and TradingView showed BTC price movements focusing on yearly highs. BTC price remained strong over the weekend, as attention focused on geopolitical
BRICS is an acronym that represents an alliance of five major emerging economies: Brazil, Russia, India, China and South Africa. Jim O’Neill, an economist at Goldman Sachs, coined the phrase in 2001 to emphasize the combined potential of these countries in the global economy. BRICS is an informal alliance that strives to foster collaboration and
British Hacker Joseph O’Connor, also known online as PlugwalkJoe, has been sentenced to five years in U.S. prison for his role in stealing $794,000 worth of cryptocurrency via a SIM swap attack on a crypto exchange executive back in April 2019. O’Connor was initially arrested in Spain in July 2021 and was extradited to the
Since its inception in 2016, Casa promoted multi-signature self-custody of BTC in the industry with its flagship Bitcoin vault allowing users to store the cryptocurrency using up to five keys for more distributed security. Casa’s service originally catered to Bitcoin ‘whales’ that were willing to spend $10,000 a year on custody, before opening its service
Bitcoin (BTC) will hit new all-time highs in 2023, and October is the favorite month for it, a popular trader says. In a Twitter update on June 22, Credible Crypto argued that the next four months should deliver the bullish BTC price momentum needed to tackle $69,000. October “fairly logical” for new Bitcoin all-time highs
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Ethereum’s on-chain movements indicate bullish pressure building around Ether as its exchange balances reached an all-time low and staking deposits keep surging. Ether’s (ETH) technical charts suggest that the asset can reclaim $3,000 if buyers are able to push above the resistance between $1,900 and $2,000. ETH held on exchanges hits an all-time low Exchange