Bitcoin (BTC) starts one of the most important macro weeks of the year in a precarious position below $17,000. After its latest weekly close, BTC/USD showed little upward momentum prior to the Dec. 12 Wall Street open. With volatility yet to appear, the largest cryptocurrency continues to trade in a narrow range, and analysts are
Ben Bernanke, former chairman of the Federal Reserve and also the winner of the 2022 Nobel Prize in economics, has recently blasted the concept of cryptocurrencies. In an interview with Dagens Nyheter, one of the biggest Swedish journals, Bernanke remarked that cryptocurrencies have not proven they have any economic value at all. Ben Bernanke Blasts
Cardano founder Charles Hoskinson has made an explosive claim about the legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) in one of his infamous Ask Me Anything (AMA) videos. Hoskinson commented on a possible settlement date for the case between Ripple and the SEC. The Cardano leader has reportedly received
The case for self-custody grows stronger as investors demand evidence of their assets over crypto exchanges. While some CEOs chose to double down on assuring the funds’ safety on their platforms, Ray Youssef, the CEO of crypto exchange Paxful, sided with the idea of self-custody as he took responsibility for over 11 million users. The
Several small investors have manifested that the constant blackouts in several parts of Cuba have made cryptocurrency mining unsustainable, leaving them unable to operate their rigs. The blackouts also affect telecommunications, leaving some of these operations that rely on off-grid power plants without the internet needed to complete mining tasks. Cryptocurrency Mining in Cuba Not
Arthur Hayes, the former CEO of crypto derivatives platform BitMEX, thinks the worst might be over for Bitcoin (BTC) this cycle as the “largest most irresponsible entities” have run out of BTC to sell. “Looking forward, pretty much everyone who could go bankrupt has gone bankrupt,” he said in the Dec. 11 interview with crypto
Minnesota Senator Tom Emmer has slammed United States Securities Exchange Commission (SEC) Chairman Gary Gensler for his flawed “crypto information-gathering efforts” and insisted Gensler should appear before Congress to explain the cost of his “regulatory failures.” Emmer’s comments came from a Dec. 10 tweet to his 67,500 Twitter followers, where he made reference to a
Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes after the spectacular crash of FTX, one of the largest such platforms, amid tightening regulations and fewer new users. U.S. Leads by Number of CEX
Another crypto-skeptic United States senator is on the loose, with Democrat Jon Tester boldly stating that he sees “no reason why” crypto should exist. Tester is the senior senator of Montana and has held a seat there since 2007. He also serves on the Senate Banking Committee, which is one of the key players involved
Elon Musk’s latest salvo in his war against crypto spam bots on Twitter appears to have made a real impact, with the crypto community reporting a vast reduction in the number of bots responding to their posts. In a Dec. 11 post, the Twitter CEO hinted that “bots are in for a surprise tomorrow” and
It is understood that Terraform Labs’ controversial founder and CEO Do Kwon is currently located in the Southeast European nation of Serbia after leaving Singapore in September. According to a Dec. 11 report from Chosun Media, South Korean authorities followed a tip-off concerning Do Kwon’s whereabouts suggesting he is now in Serbia and has been
Angel investor Balaji Srinivasan says the collapse of crypto exchange FTX should be treated as “a preview of state failure.” He warned that one day U.S. dollar bank accounts “may be frozen or inflated to worthlessness,” emphasizing that the authorities “will show no interest in prosecuting.” Srinivasan cautioned: “That world is coming and we need
Rock band Kiss’ lead singer Gene Simmons has confirmed that he is still holding crypto despite the crypto winter and the collapse of cryptocurrency exchange FTX. “I’m deep in crypto. I believe in it,” the rock legend affirmed. Noting that he has several cryptocurrencies, including bitcoin and ethereum, Simmons stressed: “Personally, I’m holding, but everybody
The relief rally in the United States equities markets took a breather this week as all major averages closed in the red. Traders seem to have booked profits before the busy economic calendar next week. The S&P 500 index dropped 3.37%, but a minor positive for the cryptocurrency markets is that Bitcoin (BTC) has not
Arbitrum-based lending platform Lodestar Finance was exploited on Dec. 10, 2022, according to a tweet from the project’s Twitter account on Saturday. Community reports detail that Lodestar lost roughly $6.9 million from the vulnerability. Lodestar Finance Loses $6.9 Million in an Exploit, TVL Drained, LODE Drops by 53% Another decentralized finance (defi) platform, Lodestar Finance
Binance’s efforts to improve transparency of its reserves also exposed red flags in the crypto exchange’s finances, according to accounting and financial specialists consulted by The Wall Street Journal. As noted by a former Financial Accounting Standards Board (FASB) member and investment manager, the report released by the audit firm Mazars does not bring investors
According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.” Purportedly, high-up executives from crypto exchanges are members of a Signal chat group called “Exchange coordination,” and Binance CEO Changpeng Zhao (CZ) ostensibly told SBF to
Amid the ongoing FTX bankruptcy proceedings, court documents indicate that media firms such as Bloomberg, the New York Times (NYT), Dow Jones & Company, and the Financial Times (FT) want the redacted information tied to FTX creditors unsealed. The media companies believe the public should be made aware of the creditors’ information, as the publications
Arbitrum-based lending protocol Lodestar Finance was exploited in a flash loan attack on Dec. 10. According to Lodestar, the attacker manipulated the price of the plvGLP token before borrowing all platform liquidity using the inflated token. In a Twitter thread, Lodestar explained the attack flow. The attacker first manipulated the exchange rate of the plvGLP
Bitcoin (BTC) is too “decentralized and transparent” for former FTX CEO Sam Bankman-Fried, says Cathie Wood. In a tweet on Dec. 10, Wood, who is CEO of investment giant ARK Invest, delivered a fresh damning appraisal of the FTX saga. Wood: SBF “couldn’t control” Bitcoin As the legal ramifications of FTX and Bankman-Fried, also known