Author: Atis. Sh

Michael Saylor, the executive chairman of MicroStrategy, has confidently vocalized a bold prediction for the price of Bitcoin, asserting a possible 10X increase in value through 2024-2025. His analysis follows a robust earnings report from MicroStrategy, showcasing unwavering commitment to the cryptocurrency. Central to Saylor’s outlook is the impending “halving” event for Bitcoin, anticipated in April 2024. “You’re going to see $12 billion of natural selling per year converted into $6 billion,” Saylor explained. This halving phenomenon historically reduces the supply of new Bitcoin by half, which could significantly tilt the scales in favor of increased value due to the…

Fidelity Investments’ Director of Global Macro, Jurrien Timmer, has positioned Bitcoin as revolutionary asset. Dubbed “exponential gold,” Bitcoin’s growing appeal to investors as a hedge against inflation is gaining more and more attention as markets are tested with global economical uncertainty. Timmer, who has charted Fidelity’s macro-economic course for nearly thirty years, sees Bitcoin as more than just a digital asset. “In my perspective, bitcoin stands as a commodity currency aiming to be both a store of value and a safeguard against monetary erosion,” he stated. Timmer’s commentary follows a remarkable year for Bitcoin, showcasing an upward price trajectory that…

Sam Bankman-Fried, the biggest crypto fraud up to date, was found guilty on Thursday on all charges related to the collapse of his cryptocurrency exchange, FTX. After a swift four-hour deliberation, the federal jury in Manhattan rendered a verdict that marks a dramatic fall from grace for Bankman-Fried, who now faces up to 110 years in prison. As the co-founder of FTX, Bankman-Fried was accused of orchestrating a complex web of financial deceit, leading to charges that include wire fraud, securities fraud, and money laundering. U.S. Attorney Damian Williams described the scandal as “one of the biggest financial frauds in…

Ripple, a well-known name in blockchain banking solutions, initiated its monthly tradition, unlocking a staggering one billion XRP as November dawned. This practice, which began in 2018, reflects Ripple’s operational strategy to foster liquidity in the XRP market. However, following this release, the XRP market witnessed a modest downturn, with the price dipping by 3%. Subsequently, in a tactical maneuver, Ripple secured 800 million of the total released XRP back into escrow. Consequently, only a portion, 200 million XRP, remains poised for strategic market operations. This re-locking process, customary for Ripple, showcases the company’s commitment to maintaining market stability while…

Genesis, a well-known entity in the cryptocurrency lending sector, has submitted an updated Chapter 11 bankruptcy plan. Remarkably, this new direction sets the stage for liquidation, diverging sharply from the asset selling and restructuring route originally proposed. This move, articulated in last week’s filing, has not only stirred the crypto community but also drawn the attention—and scrutiny—of the U.S. government. William Harrington, a U.S. Trustee, voiced concerns in a recent filing with the U.S. Bankruptcy Court in the Southern District of New York. Harrington underscored the drastic nature of the plan’s shift, stating, “There could not be a starker example…

The U.S. Securities and Exchange Commission (SEC) has leveled serious fraud charges against the executives of SafeMoon, a decentralized finance digital asset. Braden John Karony, Kyle Nagy, and Thomas Smith have been indicted for a slew of charges including conspiracy to commit securities fraud, wire fraud, and money laundering. The federal indictment alleges that the trio misappropriated millions of dollars for personal use, including extravagant purchases like luxury vehicles and real estate. The High-Profile Arrests Earlier today, Karony was arrested in Provo, Utah, while Smith was apprehended in Bethlehem, New Hampshire. Nagy, however, remains elusive and is still at large.…

PayPal has secured approval from the Financial Conduct Authority (FCA) to resume its crypto services in the United Kingdom. This milestone comes after PayPal voluntarily paused its crypto buying and selling for UK customers in October, promising a return in early 2024. As confirmed by the FCA, PayPal is now officially registered to engage in cryptoasset activities within British territory, serving as a precedent as the nation prepares its initial set of crypto regulations. Regulatory Landscape and PayPal’s Strategic Moves While the UK’s crypto market is still navigating through regulatory uncertainties, the FCA’s endorsement of PayPal is a significant step.…

MultiversX has pulled back the curtain on its latest innovation, xAI, poised to revolutionize how developers and users interact with the MultiversX platform. Imagine a world where every query about MultiversX, from simple questions to code reviews and smart contract explanations, can be answered instantly. That’s what xAI promises. A Game-Changer in Web3 Development In the ever-evolving landscape of blockchain, getting up to speed is challenging. Amidst jargons and complex concepts, the learning curve is steep. Here’s where xAI comes in. Crafted by a collective of developers from the Builders Discord server, the chatbot aims to simplify this arduous process.…

In a move aimed at “protecting users and maintaining a high-quality trading market,” Binance, the world’s largest cryptocurrency exchange, has announced the removal of 25 trading pairs involving Binance USD (BUSD). This comes as part of Binance’s ongoing cleanup process to streamline its BUSD offerings. According to the official statement, the removal is dictated by “various factors such as low liquidity and trading volume.” Beginning November 3 at 06:00 UTC, the exchange will first delist trading pairs including but not limited to CAKE/BUSD, COMP/BUSD, and EOS/BUSD. Subsequently, at 08:00 UTC, other pairs such as MAGIC/BUSD and UNI/BUSD will follow suit.…

Zach Burks, CEO of Mintable, recently spoke out against the U.K. government’s approach to regulating non-fungible tokens (NFTs). In an interview, Burks claimed that regulators are missing the multifaceted nature of NFTs. “They are not just volatile digital pictures; they have broader utilities,” Zach Burks, CEO of Mintable Burks’ comments come after a report by the U.K.’s Culture, Media and Sport Committee suggested the government clamp down on NFTs for their role in copyright infringement. Although the report pushes for stronger intellectual property rights, it considerably narrows down the scope and potential of NFTs. According to Burks, such a view…