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Bitcoin Breaks $28,000, Will Sharks & Whales Back Rally?
Auto Scroll document.write(' '); Bitcoin has broken above the $28,000 mark as on-chain data shows the key BTC wallets have been accumulating during the last few weeks. Bitcoin Sharks & Whales Have Been Accumulating During Past Month According to data from the on-chain analytics firm Santiment, the large BTC wallets have accumulated a combined $1.17 billion in the cryptocurrency since the start of last month. The relevant indicator here is the “Supply Distribution,” which keeps track of the total number of coins that each investor cohort in the market is holding right now. The holders or addresses are divided into these groups based on the amount of BTC that they are carrying in their balance currently. The 1-10 coins cohort, for instance, includes all investors holding at least 1 and at most 10 BTC. In the context of the current discussion, there are three groups of interest: 10-100 coins, 100-1,000 coins, and 1,000-10,000 coins. ...
Coinbase secures full regulatory approval in Singapore
Coinbase is the latest crypto company to secure full regulatory approval in Singapore. The U.S. exchange’s Singaporean arm announced it had received a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS), becoming a fully authorized player in Singapore. The platform had secured a temporary licensing exemption from the Singaporean central bank in March 2020. Two years later, in October 2022, Coinbase received an “In Principle” license to operate in the city-state. Moreover, the Republic of Singapore, often viewed as a crypto haven, is no stranger to the allure of digital currencies, with a staggering 25% of its population embracing crypto as the future of finance. Furthermore, an impressive 32% of Singaporeans have already ventured into crypto. The latest Chainalysis Global Crypto Adoption Index revealed that Singapore received the seventh-highest amount of crypto in the previous year. International expansion Coinbase’s strategy for interna...
FTX's Bankman-Fried contemplated paying Trump $5b not to run for president
Auto Scroll and Click Michael Lewis, the author of “The Big Short,” says the disgraced crypto entrepreneur was exploring the legality of such a move. Sam Bankman-Fried (aka SBF), founder and former CEO of the now-bankrupt cryptocurrency exchange FTX, was considering paying Donald Trump $5 billion not to run for re-election. In an interview with CBS, Michael Lewis, the author of “The Big Short” and “Going Infinite: The Rise and Fall of a New Tycoon,” noted that SBF was not sure at the time whether that number came directly from Trump. However, the disgraced crypto entrepreneur was not worried about the number but about the legality of this move. “He [SBF] got one answer, yes. The question Sam had was not just, “Is $5 billion enough to pay Trump not to run,” but “Was it legal?” Michael Lewis. According to an excerpt of Lewis’ forthcoming book “Going Infinite: The Rise and Fall of a New Tycoon,” which will become available tomorrow, Oct. 3, and publi...
Ripple Vs. SEC: Legal Expert Challenges Gensler’s Knowledge On What Is A Security
Pro-XRP legal expert John Deaton has again come for the US Securities and Commission’s (SEC) Chairman Gary Gensler in its battle against Ripple. This time, he questions Gensler’s competence and calls for his dismissal from the Commission. Gensler Doesn’t Know What Security Means In a tweet shared on his X (formerly Twitter) platform, Deaton stated that despite his academic experience, Gensler doesn’t have a “clue” about what investment contracts (also known as security) mean. He further stated that Gensler continues to feign ignorance that securities laws cannot apply to the “purchase of an asset for non-investment use cases.” Deaton was reacting to an old clip where Gensler mentioned that Ether had transformed from a security to a non-security as it had become more decentralized. The lawyer’s comments come amid the ETH Gate saga and the long-running legal battle between Ripple and the SEC. The SEC is said to have given Ethereum a ‘regulatory free pass’ while alleging that ...
Coinbase Expands Services In Singapore With Its New MPI License – Details
Amid global expansion moves, Coinbase announced on October 1 that it secured a new Major Payment Institution (MPI) license in Singapore. This license will enable it to expand its digital asset payment services to Singapore’s retail and institutional customers. The MPI license comes one year after Coinbase obtained an in-principle approval from Singapore’s Monetary Authority (MAS). MPI License Validates Coinbase Operations In Singapore According to the MAS , payment service providers can apply for three types of licenses. This license enables them to provide payment services subject to the Payment Services Act 2019 (PS Act). In addition, the regulator noted that MPI-Licensed payment services firms are not subject to the $2.2 million (S$3 million) transaction limit. The firms are also exempted from the S$6 million ($4.4 million) monthly transaction limit. This transaction limit exemption applies to payment services besides e-money account issuance and money-changing services. Fu...
Satoshi Nakamoto's Secret Email Emerges From The Shadows
Fragments of Satoshi Nakamoto’s secret identity, the genius responsible for the birth of Bitcoin (BTC), have resurfaced, shedding new light on the creation of the world’s first cryptocurrency. This revelation comes in the form of an email, hitherto undisclosed, bearing the date of August 22, 2008. The email, directed to computer scientist Wei Dai, offers a captivating window into the nascent stages of Bitcoin’s creation, a journey that would go on to profoundly alter the contours of the global financial realm. This recently unveiled correspondence serves as a valuable historical artifact, shedding light on the intellectual exchanges and collaborative efforts that paved the way for the development of Bitcoin. By delving into this previously hidden piece of communication from Satoshi Nakamoto to Wei Dai, we gain invaluable insights into the genesis of the revolutionary cryptocurrency, a technology that would ultimately disrupt and redefine traditional financial paradigms worldwide. ...
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Huge Surges: Polygon (MATIC) Soars After Dragon Fruit Upgrade, Everlodge (ELDG) Continues to Deliver Impressive Returns and Uniswap (UNI) Hits 200M Transactions Milestone!
The cryptocurrency market is a dynamic landscape of innovation, achievements, and transformative projects. In recent developments, Polygon (MATIC) has been making waves after the Dragon Fruit upgrade, Uniswap (UNI) achieved a significant milestone, and Everlodge (ELDG) continues to impress investors with its performance. This article dives into the details of these exciting developments. Join the Everlodge presale and win a luxury holiday to the Maldives Polygon (MATIC): Soars with Dragon Fruit Polygon (MATIC), a popular L2 scaling solution for Ethereum, has experienced a surge in demand following its Dragon Fruit upgrade. The Polygon price soared from $0.52 to $0.54 after the upgrade went live. This enhancement has significantly improved the Polygon network’s overall user experience and scalability. Due to all these reasons, Polygon has gained recognition as a reliable platform for dApps, attracting developers and projects looking to build on its infrastructure. As a result, exp...
We must rethink purchasing power parity (PPP) in the cryptocurrency era
Cryptocurrencies are promising a novel avenue for stabilizing global purchasing power parity amidst traditional economic turbulence. This article delves deep into the transformative capabilities of digital assets, identifying both potential opportunities and hurdles that lie ahead. Nestled securely and transparently within the realms of blockchain technology, digital assets are scripting a new global financial tale, one that surpasses geographical borders and paves the way for a redefined understanding of purchasing power parity (PPP). Before delving further, it is crucial to comprehend the recent fluctuations in traditional economic measurements. A pertinent example is the notable decrease in the US dollar’s purchasing power, accentuating the necessity to adapt and evolve amidst changing economic landscapes. Through the lens of the Consumer Price Index (CPI) — a barometer gauging the alterations in the price of goods and services over time — it was observed that in 2022, the US ...
Here Are The Major Takeaways From The Ripple Victory Party
Although the legal battle between Ripple and the SEC isn’t officially over, the payments technology company has gone ahead to host a party to celebrate its partial win in court. After the court win, Ripple’s founder and CEO Brad Garlinghouse announced on social media a September 29 date for what was called a “Victory Party.” Now that the event has been held, it hasn’t gone without a mark for the XRP community. 🎉 Save the Date 🎉 We’re hosting a community celebration on September 29 in New York City! Stay tuned for more details to come later this week. pic.twitter.com/PlaqPoQcte — Ripple (@Ripple) August 28, 2023 A Sense Of Relief And Validation After years of battling it out against the SEC in court, Ripple finally got some reprieve. While Ripple’s legal troubles aren’t over, the company threw a party. As expected, the party was a lavish one, with many people even queuing to get into the event. Lenny Kravitz, a legendary figure in the world of rock music, gave a performance ...