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17/09/2023

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into other available assets, including a newly listed stablecoin, amid plans to wind down support for BUSD.

In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 — a decision in line with Paxos' plans to end BUSD redemption at that time.

17/09/2023

Researchers behind the well-known Cambridge Bitcoin Electricity Consumption Index (CBECI) have officially revised its methodology to enhance the accuracy and reliability of the Index’s estimates for the first time since its inception in 2019.

The CBECI was launched in July 2019 in an effort to provide reliable data-driven insights to questions about Bitcoin mining’s energy-intensive nature and associated environmental impact.

CBECI looked at U.S. import records on Bitcoin mining equipment (left) and estimated computing power derived from import data (right). Researchers used the hash rate (in TH/s) and gross weight stated by the manufacturer and applied an equally weighted mix of the following models from Canaan’s Avalon A1246, Avalon A1266, Avalon A1346 and Avalon A1366

16/09/2023

Crypto.news - The Ethereum (ETH) price saw a notable surge on Aug. 29 after consolidating around the $1,650 mark for ten days.

However, Santiment data suggests there are still more daily transactions in loss. According to the market intelligence platform, the ratio of daily profit and loss transactions dropped to 0.62.

ETH price, ratio of daily transactions in profit to loss and whale activity – Aug. 30 | Santiment

Per Santiment, the ratio hit a three-week high of 1.37 on Aug. 29, when ETH was trading at around $1,740.

16/09/2023

Crypto analytics platform Arkham Intelligence has revealed financial services company and crypto trading platform Robinhood (NASDAQ:HOOD) as a leading holder of Ether (ETH) and the owner of the fifth-largest ETH wallet, which contains about $2.54 billion of the cryptocurrency.

Arkham stated on X (formerly Twitter) that its recognition of Robinhood possessing the third-largest Bitcoin wallet garnered significant attention. However, it said less attention has been paid to its identification of Robinhood as the holder of the fifth-largest ETH wallet. In a separate update, Arkham emphasized that these funds are user balances under custody.

15/09/2023

Crypto.news - Non-fungible token (NFT) sales have witnessed a significant surge after taking a downward curve between Aug. 25 and 29.

According to CryptoSlam, NFT sales grew by 36.5% in the past 24 hours, reaching roughly $14.25 million. Per the data aggregator, the total trades are still down by 19% from its local top of $17.61 million on Aug. 17.

Moreover, the total number of transactions and the average sale have also registered 9.05% and 32.33% hikes. Per CryptoSlam, the number of transactions has reached 277,997 while the average value of a sale grew to $51.

On the other hand, the total amount of wash trades has also risen with the NFT uptrend. According to the data provider, the NFT wash volume has risen by 4.45%, reaching $4.51 million in 28,207 wash transactions.

Per CryptoSlam, Ethereum (ETH) remains the preferred blockchain for NFT trades, with a total sales volume of $8.4 million. Polygon (MATIC) comes second with a notable share of $1.2 million.

15/09/2023

Google (NASDAQ:GOOGL) Cloud announced a new partnership with the government of El Salvador on Aug. 29 to establish an office and provide Google Distributed Cloud (GDC) services in the country.

The partnership aims to digitize the country, update government services and improve the healthcare and education systems. The GDC will also help bring infrastructure closer to where data is generated for El Salvador.

14/09/2023

The biggest new memecoin of 2023, Pepe (PEPE), suffered one of the worst possible fates that can befall a new crypto asset — a partial rug pull after its anonymous developers abruptly sold nearly $16 million worth of the token on Aug. 24.

The official Pepe X (formerly known as Twitter) account explained the drop was due to “three ex-team members” going behind their back and selling the tokens without their knowledge — a move that saw the price of Pepe plummet as much as 26% in the days following, without much respite.

Pepe liquidity held strong despite the sudden plunge. Source: Kaiko

14/09/2023

There are hopes that the United States could see a new crypto resurgence after several rulings this year have seen court judges “rein in the SEC,” according to a digital asset lawyer from K&L Gates.

On Aug. 31, Jeremy McLaughlin, a partner at the global law firm, noted that multiple U.S. court cases have stomped on arguments from Securities and Exchange Commission Chair Gary Gensler, who has said that almost all digital assets are securities.

Dimitropoulos (center-left), McLaughlin (center-right) and Leung (right) speaking on a panel regarding crypto regulation. Source: Tom Mitchelhill/Cointelegraph

13/09/2023

Multinational technology company Apple (NASDAQ:AAPL) has reportedly paid $5 million for the rights to author Michael Lewis’ upcoming book on former FTX CEO Sam “SBF” Bankman-Fried following a bidding war.

According to a Sept. 7 report from The Ankler, Apple secured the rights to the book Going Infinite: The Rise and Fall of a New Tycoon, which is set to be released on Oct. 3 — the start of SBF’s trial in New York. Lewis suggested an October publication date at the Bitcoin 2023 conference in Miami, aiming for the beginning of the former FTX CEO’s criminal trial.

Michael Lewis’ book on Sam Bankman-Fried, scheduled for publication on Oct. 3. Source: Amazon (NASDAQ:AMZN)

13/09/2023

Bitcoin’s price dropped a modest 1.75% on Sept. 8 to nearly $25,850, wiping out almost all the gains made just hours before.

BTC/USD daily price chart. Source: TradingView
Bitcoin's (BTC) price has struggled for direction in September, fluctuating between small gains and losses amid decreasing liquidity.

BTC/USD daily price chart. Source: TradingView
Bitcoin exchange reserves. Source: CryptoQuant
Crypto liquidation heatmap. Source: TradingView
BTC/USD 4-hour price chart. Source: TradingView

12/09/2023

Bankrupt crypto exchange FTX has filed a lawsuit against cross-chain protocol LayerZero Labs, seeking to recover $21 million in funds that were allegedly illegally withdrawn prior to FTX's shutdown in November 2022, according to court documents filed on September 9.

The case traces back to transactions made from January to May 2022, between Alameda Ventures — the venture capital arm of Alameda Research, FTX's sister company — and LayerZero.

12/09/2023

A key talking point in the crypto community has been the ongoing exodus of executives from Binance amid growing regulatory troubles. Binance has seen the departure of 10 key executives from various departments in the first nine months of 2023. The latest to join the list is Helen Hai, executive vice president of Binance, who announced her resignation from her post on Sept. 6. On the same day, Gleb Kostarev, vice president of Eastern Europe, Turkey, the Commonwealth of Independent States, Australia and New Zealand at Binance, also announced his resignation, as did CIS general manager Vladimir Smerkis. Four top executives from Binance reportedly all left on the same day after Binances response to the United States Department of Justice investigation. Binance CEO Changpeng Zhao has hosed down recent rumors against his firm, assuring its balance sheet and employee retention remain robust despite the recent market uncertainty.

The United States Securities and Exchange Commission has approved Nasdaq’s request to operate its first AI-driven order type on Sept. 8. Called the dynamic midpoint extended life order (M-ELO), the new system expands on the M-ELO automated order type by making it dynamic, meaning it will use artificial intelligence to update and, essentially, recalibrate itself in real-time. The follow-on effect should be a significant acceleration of orders placed with the system. Nasdaq says the dynamic M-ELO demonstrated a 20.3% increase in fill rates and an 11.4% reduction in mark-outs during its research and testing.

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