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A short bull run marked the last 30 days in the cryptocurrency market, with Bitcoin (BTC) leading the way for multiple cryptocurrencies. Greed started dominating investors’ sentiments as most digital assets registered massive capital inflows in a month. Notably, the leading index by TradingView (CRYPTOCAP: TOTAL) surged 35%, adding $365 billion in 30 days. By press time, a $1.024 trillion total crypto market cap quickly became $1.392 trillion from October 12 to November 11. CRYPTOCAP: TOTAL – Total cryptocurrency market capitalization. Source: TradingView The bearish short-term case for cryptocurrencies However, the Relative Strength Index (RSI) is overbought at 88.29 points in the daily chart. This state has lasted since October 22, when RSI crossed 70 points. In the meantime, total capitalization has distanced itself by $155 billion from the 30-day exponential moving average (EMA). Essentially, these indicators suggest crypto currency trading could expect a natural retra...

Digital Prime Technologies, founded by former Cantor Fitzgerald executives, has launched a crypto lending platform named Tokenet, aiming to capitalize on the potential U.S. regulatory approval of Bitcoin ETFs. Digital Prime Technologies, a company launched by former Cantor Fitzgerald executives, has entered the crypto lending market with a new platform named Tokenet. The platform is aimed at positioning itself for a boom expected with the potential approval of Bitcoin exchange-traded funds (ETFs) in the United States. Already serving clients such as Xapo Bank, Tokenet allows the lending of digital assets to various players in the market, including EDX Clearing and Hidden Road Partners. The Jersey City-based company emphasizes strong risk management and user communication with features like chat for loan handling, showing its readiness to address current market needs. This move by Digital Prime comes at a critical time. The market experienced a significant void after the downfall...

As regulatory scrutiny intensifies, crypto industry executives are increasingly finding themselves entangled in legal battles. The recent case involving prominent crypto entrepreneur Sam Bankman-Fried (SBF) has further highlighted the challenges faced by individuals at the forefront of the digital asset revolution. Let’s take a deep dive into the top 10 high-profile crypto fraud cases so far. Do Kwon and the collapse of Terra In March 2023, Do Kwon, the co-founder of Terraform Labs, a Singapore-based blockchain platform, was arrested in Montenegro. Kwon, a South Korean national, was charged with fraud in the United States and indicted on eight charges, including securities fraud, wire fraud, commodities fraud, and conspiracy.  He had been a fugitive for several months, and South Korean authorities issued an arrest warrant for him in September 2022. Kwon was detained by Montenegro police at Podgorica airport while trying to board a flight to Dubai with another South Korean cit...

In 2023, the majority of CFTC’s whistleblower awards involved crypto fraud schemes, said Christy Goldsmith Romero, a commissioner of the regulator. As the crypto market remains the top spot for malicious actors and hackers, the U.S. Commodity Futures Trading Commission (CFTC) continues to double down on the area with its whistleblower program. In a statement on Oct. 31, CFTC Commissioner Christy Goldsmith Romero said most of the agency’s $16 million awards this year involved crypto . She particularly noted the $15 million the agency awarded to “two whistleblower s who provided significant information and assistance that led the CFTC to bring separate successful enforcement cases.” It is unclear if those cases had anything to do with crypto , though. “With the rise of crypto , more retail customers have come under the CFTC’s jurisdiction, making even more critical the efforts of the CFTC’s Whistleblower Program and the Office of Customer Education and...

Animoca Brands CEO Robby Yung says investors have been more discerning when allocating capital to Web3 gaming projects during crypto winter. Investing in Web3 gaming has required a greater level of due diligence through a testing crypto currency bear market, according to Animoca Brands CEO Robby Yung. Yung, who is also co-founder of popular Metaverse platform The Sandbox, highlighted more robust check-boxes when considering Web3 gaming investments while speaking at the European Blockchain Convention in Barcelona. Related: Animoca still bullish on blockchain games, awaits license for metaverse fund The Animoca Brands CEO said that investment propositions involve finding a mix of passionate teams with specific skill sets who are building product ideas that have a clear market fit: “Now that we're in a sort of crypto winter and an economic downturn, from the investor perspective, we can afford to be quite choosy because obviously, capital is scarce.” Yung added that the stage of d...

Demand for crypto in Hong Kong is mainly driven by institutional investors rather than retail customers, Zodia CEO said. Zodia, the institutional cryptocurrency custody platform co-owned by British banking giant Standard Chartered, Japanese SBI Holdings and the financial firm Northern Trust, is expanding its services to Hong Kong. Zodia Custody is launching services in Hong Kong in response to growing demand for crypto from institutions, Zodia CEO Julian Sawyer said, according to a CNBC report on Oct. 29. According to Sawyer, the crypto demand in Hong Kong is mainly driven by institutional investors rather than retail customers, ideally matching Zodia’s crypto custody offering. He also mentioned that Hong Kong’s stance on crypto aligns with Zodia’s ambitions as the local government “sees digital assets as the future and also wants Hong Kong to be a hub.” Zodia’s launch in Hong Kong comes as the firm aggressively scales operations in Asia, opening services in Japan, Singapore and Austr...

Both the United Nations (UN) Declaration of Human Rights and the International Covenant on Civil and Political Rights recognize ‘privacy’ as a fundamental human right. In the cryptocurrency market, some projects are focused on providing the best privacy experience for its holders and users. Interestingly, privacy is often considered a tabu when talking about money, despite being a well-accepted fundamental human right for other topics. The growing development of high-surveillance financial tools often creates controversy and conflict of interest against privacy cryptocurrencies. Nevertheless, as a fundamental human right, investors can turn to privacy-focused coins in order to hedge against the increased surveillance state, often used by authoritarian regimes that explicitly violate recognized human rights. With that in mind, Finbold asked ChatGPT to pick three privacy cryptocurrencies: Cryptocurrency We asked ChatGPT 4 if spot Bitcoin ETFs are already priced in ...

In the realm of content creation, three critical elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the litmus test for textual intricacy. Conversely, burstiness measures the ebb and flow of sentence diversity. Lastly, predictability gauges the likelihood of one predicting the subsequent sentence. Humans often infuse their prose with a rich blend of sentence structures, incorporating both intricate and concise phrasings. In contrast, artificial intelligence-generated sentences tend to maintain a more consistent pattern. Consequently, for the content I’m about to task you with creating, it’s imperative that it exudes a healthy dose of perplexity and burstiness while minimizing predictability. It’s essential that the text adheres strictly to the English language. Now, let’s transform the following text: “The Crypto Fear & Greed Index has returned to levels not seen since the...

Crypto and blockchain technology are dynamic yet have a steep learning curve. A notable concern is companies’ apparent struggle when hiring individuals with the requisite technical skills. A recent PwC survey noted that almost half (48%) of crypto -centric firms needed help finding qualified personnel to run their businesses.  The issues mentioned above are often attributed to the specialized nature of blockchain programming languages, smart contract development, and other unique technical aspects inherent to this domain.  You might also like: Bit Digital diversifies crypto mining business with major AI expansion For instance, Solidity, a core language for smart contract creation on platforms like Ethereum, presents a hurdle for those unfamiliar with its intricacies.  Developing smart contracts is complex due to their decentralized nature and the need for precise coding to ensure accurate execution.  Additionally, while promoting innova...

Inflows in crypto currency investment products from October 7 to October 13 reached $15.2 million, compared to $78.4 million a week earlier.  According to CoinShares analysts, the amount was 27% below the 2023 average. Experts explained that the data provided does not include positive news for digital gold regarding the SEC’s refusal to appeal the court’s decision in the case of converting the Grayscale Bitcoin Trust into an ETF. Such developments have increased the chances of the product launch, according to market observers. Bitcoin (BTC) funds recorded an inflow of $16.4 million compared to $42.7 million in the previous reporting period. Investors invested $1.7 million in products that allow opening shorts on the first crypto currency (a week ago it was $1.2 million). Source: CoinShares Meanwhile, investors withdrew $7.4 million from Ethereum (ETH) funds . The previous week, against the backdrop of the start of trading in Ethereum-ETF futures, there was an influx of $10.2 ...

In the realm of crafting written content, three key elements hold sway: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness examines the ebbs and flows within sentences. Predictability, on the other hand, is a measure of how easily one can anticipate the subsequent sentence. Human authors often imbue their prose with bursts of diversity, intermingling lengthy and intricate sentences with shorter ones. In contrast, AI-generated text tends to adopt a more uniform approach. For the task ahead, where I request you to create content, it’s imperative that the resulting text boasts a healthy dose of perplexity and burstiness while minimizing predictability. Additionally, please ensure that the content is composed exclusively in English. Now, let’s reimagine the following text: The Financial Conduct Authority (FCA) in the United Kingdom maintains a roster of 42 registered crypto asset pr...

In a groundbreaking feat, the Shibarium network, designed as a layer-2 blockchain to enhance scalability, achieved a significant milestone recently by confirming 1 million blocks. Shiba Inu decided to dive into the decentralized finance [DeFi] pool and even thrive in it with Shibarium . Shibarium faced several unexpected hurdles upon its launch. This primarily stemmed from an abrupt surge in demand that led to a congestion issue within a single block. As a result, the network had to activate fail-safe mode. This posed substantial challenges that needed to be addressed. However, after a brief pause, Shibarium made a strong comeback. It accomplished the noteworthy milestone of confirming 1 million blocks, averaging an impressive rate of one block every 5 seconds. Additionally, on Sept. 21, the network recorded a staggering 3 million transactions verified within 745,837 blocks. During this period, it witnessed a remarkable addition of over 36,000 new wallet addresses. At present, the ...

Group-IB, a cybersecurity firm, has discovered a malware designed to steal funds from financial organizations and crypto wallets in Vietnam. In a blog post on Oct. 4, Group-IB said Android devices are the primary targets of the GoldDigger trojan. It is distributed through false versions of the Vietnamese government application on the Google Play Store.  Fake website distributing GoldDigger | Source: Group-IB You might also like: Australian police seize $1.5m in crypto from dark web drug dealer The malware uses the Android Accessibility service to pilfer personal information, passwords, banking credentials, intercept SMS messages, and mimic user actions. Group IB says the malware has been active since at least June 2023, and it is protected with Virbox Protector, which provides advanced obfuscation and encryption. Chinese and Spanish versions of GoldDigger have also been identified, indicating that the trojan may soon be active in these countries. Group-IB adv...

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). You might also like: Inflation and recession loom, Bitcoin remains stable 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 th...

In just a year, Hong Kong has moved from being a cryptocurrency-unfriendly region to claiming the top spot among the most cryptocurrency-ready countries and territories. What is the reason for such dramatic changes? According to Forex Suggest research, Hong Kong is best suited for widespread crypto currency adoption. A country that is ready to implement crypto currency has certain indicators, including the number of businesses accepting crypto currencies, a favorable regulatory environment, a thriving startup culture, and fair tax policies. Source: Forex Suggest A brief history of Hong Kong crypto regulation In October 2022, Hong Kong authorities officially announced that they intend to develop the cryptocurrency market in the region by creating appropriate regulatory standards. It was reported that the government, together with local financial regulators, will create “favorable conditions” for the development of the local cryptocurrency industry. Local authorities also announ...