Several crypto firms are facing a probe from the United States Federal Trade Commission (FTC) over possible deceptive or misleading advertisements relating to cryptocurrencies. According to a Dec. 6 report from Bloomberg, FTC spokeswoman Juliana Gruenwald said the watchdog is investigating “several firms for possible misconduct concerning digital assets.” Gruenwald did not provide further details
The Kentucky Public Service Commission (PSC) has reportedly opened a formal investigation into two proposed contracts that would offer discounted electricity prices to new crypto-mining operations. According to a Dec. 5 statement from environmental law group Earthjustice, the government department would be looking to determine whether subsidizing crypto mining operations will raise electricity costs for
Standard Chartered Bank says the price of bitcoin could drop to $5,000 next year. The bank’s analyst explained that cryptocurrencies could fall further and more crypto firms could “succumb to liquidity squeezes and investor withdrawals.” Standard Chartered Bank’s $5K Bitcoin Scenario Standard Chartered Bank published a note titled “The financial-market surprises of 2023” Sunday. The
Bitcoin (BTC) price is showing notable resilience at the $17,000 level, and according to data from Glassnode, a number of metrics that track the pace of selling and the on-chain behavior of investors are beginning to show a reduction in the factors that trigger sharp sell-offs. The FTX bankruptcy fueled a historic sell-off resulting in
On Monday, Dec. 5, 2022, market data shows that non-fungible token (NFT) sales dropped 5.23% lower than last week’s sales despite a 15.16% increase in NFT buyers. Out of the $112.70 million in NFT sales volume over the last week, Ethereum-based NFTs accounted for $86.59 million or 76.8% of the $112 million in sales volume.
Maxine Waters, chair of the United States House Financial Services Committee, has called out former FTX CEO Sam Bankman-Fried for announcing on social media he intended to testify after “learning and reviewing what happened” at the exchange. In a Dec. 5 Twitter thread, Waters cited Bankman-Fried’s numerous media interviews in the wake of FTX’s bankruptcy
Bitcoin (BTC) bulls regained some control on Nov. 30 and they were successful in keeping BTC price above $16,800 for the past 5 days. While the level is lower than traders’ desired $19,000 to $20,000 target, the 8.6% gain since the Nov. 21, $15,500 low provides enough cushioning for eventual negative price surprises. One of
It’s the final month of the year and analysts are out with their projections for the next year. In a note to investors, Standard Chartered suggested that “The financial-market surprises of 2023” will include Bitcoin (BTC) price diving to $5,000 at some point in the year. The fall will be triggered by a liquidity crunch, which
In a number of recent interviews, the former co-founder of FTX, Sam Bankman-Fried (SBF), explained that he “wasn’t running Alameda” and he “didn’t know the size of their position.” In a more recent discussion with The Block’s Frank Chaparro, SBF explained that auditors were looking at FTX’s corporate financials, but the auditors were “not looking
press release PRESS RELEASE. San Marino, Dec 5, 2022 — RBB Lab, a technology development firm based in the Republic of San Marino, has used NFT (Non-Fungible Token) technology to issue court summonses for the case against Alberto De Luigi, Andreas Kohl, both former collaborators of the firm, and their company Sequentia AG incorporated in
In a blog post dated Dec. 5, Ethereum (ETH) co-founder Vitalik Buterin wrote that money, blockchain identities, decentralized finance (DeFi), decentralized autonomous organizations (DAOs), and hybrid applications were the top developments he was excited about in the Ethereum ecosystem. Buterin then described his experience in using Ether as a means of payment in a cafe
A second powerful moment occurs when the same user is introduced to a block explorer, looks up their address and sees that same transaction there on the blockchain for all to see. There are competing visions of what Bitcoin (BTC), Ether (ETH) and other cryptocurrencies will achieve. They may be the future of gold, payments,
The Malta Financial Services Authority (MFSA) is currently reviewing requests to revise the “regulatory treatment” of Non-Fungible Tokens (NFTs) within its Virtual Financial Assets Framework. Under the current regulatory framework, NFTs are included within the scope of the Virtual Financial Assets Act, which also includes virtual tokens, virtual financial assets, electronic money, and all financial
Litecoin rose to a seven-month high to start the week, as cryptocurrency markets continued to react to the latest U.S. nonfarm payrolls figures. The token was up for a second consecutive session, climbing to its highest point since May. Shiba inu was also a notable gainer on Monday. Litecoin (LTC) Litecoin (LTC) raced to a
Accepting Bitcoin payments is advantageous due to lower fees than credit and debit cards, expansion of customer base and real-time bank balances. However, risks like volatility and cybercrime may undermine these benefits. Cryptocurrency payments help save excessive credit and debit card processing fees as they are decentralized and do not need intermediaries to verify the
As the global crypto community is still licking its wounds from the FTX collapse, a liquidity crisis continues to spread around centralized exchanges and decentralized finance (DeFi) alike. It is soon to be decided whether the coming regulation triggered by FTX’s bankruptcy will bring a silver lining to crypto. The Chamber of Deputies of Brazil,
The Lazarus group, a North Korean hacking organization previously linked to criminal activity, has been connected to a new attack scheme to breach systems and steal cryptocurrency from third parties. The campaign, which uses a modified version of an already existing malware product called Applejeus, uses a crypto site and even documents to gain access
Bitcoin (BTC) cooled volatility above $17,000 into the Dec. 5 Wall Street open as traders confirmed upside targets. Bitcoin traders warm to near-term upside Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it held overnight gains, having hit three-week highs. The weekly close itself was encouraging for some, forming Bitcoin’s highest since the
Bitcoin was trading above $17,000 on Monday, as the world’s largest cryptocurrency raced to a three-week high. Today’s move comes as prices rose for a second straight day, with momentum now firmly bullish. Ethereum was also in the green to start the week, with the coin hovering near the $1,300 mark. Bitcoin Bitcoin (BTC) surged
Litecoin (LTC) could rise another 20% amid a rare trend reversal breakout that has already resulted in LTC outperforming most crypto assets in recent days. LTC’s not-so-bearish symmetrical triangle LTC’s price broke out of what earlier appeared to be a bearish symmetrical triangle. Symmetrical triangles are trend continuation patterns, meaning breaking out of their range