Bitcoin Crypto Signals

2023-09-19 14:27:29 Ant Group Shakes Up Crypto Landscape With $100 Million Withdrawal From Crypto Industry

According to Bloomberg, Ant Group, the parent company of the world’s largest mobile payment platform, Alipay, is reportedly preparing to withdraw its investment in cryptocurrency venture capital firm A&T Capital, a move that marks its departure from a $100 million investment in the digital asset sector. The decision to unwind this investment comes amidst an investigation into Jun’s workplace conduct, although it remains uncertain whether A&T Capital will continue to operate independently or seek new investors to sustain its operations. As of now, the company’s website displays a timed-out error message.

A&T Capital, founded in April 2021, had initially been a prominent player in the Chinese crypto investment landscape, with notable investments in companies like ConsenSys, the parent company of MetaMask. However, allegations of harassment against one of its partners added to the turbulence surrounding the firm. Meanwhile, Ant Group recently introduced its new sub-brand, ZAN, which is set to address challenges in the Web3 space. ZAN aims to facilitate the issuance and management of real-world assets (RWAs) while complying with local regulatory requirements. The sub-brand also includes technical products such as electronic Know Your Customer (KYC), Anti-Money Laundering, and Know Your Transaction checks, aligning with Ant Group’s commitment to innovation in the evolving digital landscape.

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2023-09-18 23:31:24 North Korean Hackers Use Russian-Based Exchanges to Launder Stolen Crypto, Report

Onchain data examined by crypto analytics company Chainalysis suggests that hackers associated with the Democratic People’s Republic of Korea (DPRK) are more and more often using cryptocurrency exchanges based in the Russian Federation to launder illicit digital assets. It also comes as U.N. sanctions monitors are drawing attention to Pyongyang’s changing tactics in cyberattacks against crypto and financial exchanges seeking to obtain funds for its nuclear weapons and missile programs.

Chainalysis provides an example with the recent transfer of cryptocurrency worth $21.9 million stolen from Harmony Protocol to a Russian exchange known for processing illicit transactions. The company also said it has evidence showing that North Korean entities have been using this platform and other services in Russia to launder money in the past couple of years. The authors of the report also pointed out that while the mainstream centralized exchanges previously used by DPRK hackers typically cooperate with international efforts, Russia’s cryptocurrency exchanges and law enforcement agencies “have a track record of non-compliance, significantly reducing the chance of asset recovery.”

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2023-09-17 18:41:03 Ethereum Network Burned 980K ETH Since Merge Upgrade

One year after its groundbreaking transition from the Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanism, Ethereum has witnessed a remarkable decline in energy consumption and enhanced network accessibility. However, persistent technical challenges continue to affect its journey ahead. the network has minted 681,049.69 Ether while burning 980,847.58 Ether, resulting in a net supply reduction of 299,797 Ether, equal to a 0.248% annualized decrease.

On September 15 of the previous year, Ethereum executed the pivotal Merge upgrade, shifting from PoW to PoS. This monumental transition substantially curtailed its overall energy usage. Currently, the Goerli testnet will be replaced by the new testnet, Holesky, which follows years of development for the developer community. It’s worth noting that Ethereum’s growth in value has been overshadowed by Bitcoin’s price surge in the first quarter of this year, with the leading cryptocurrency seemingly benefiting from traditional financial instability resulting from banking crises. The network, while making strides in sustainability and accessibility, faces ongoing hurdles as it navigates its path forward in the evolving cryptocurrency landscape.

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2023-09-16 22:40:36 Ethereum Developers Forge Ahead With Network Enhancements For Devnet-9 In Latest Meeting

Ethereum’s core developer, Tim Beiko, recently convened for their regular Ethereum All Core Developers Execution (ACDE) meeting to discuss crucial updates and enhancements to the network. According to Beiko, the Devnet-8 is near completion, with various clients actively updating it. Notably, Nethermind and Geth are making strides with their blob transaction pools, while Besu undergoes a significant transaction pool overhaul. Erigon is working on its pool, targeting readiness for Devnet-9, and Prysm is investigating delays in blob sidecar reception.

A proposal named EIP-7514 (add maximum Epoch loss limit) was discussed, aiming to add a constant cap to the validator activation queue, slowing down the growth of the ETH stake percentage. Ethereum Foundation researcher Dankrad expressed support, and it will be part of the Dencun upgrade, with the limit set to 8. Developers discussed adding an opcode to the Ethereum Virtual Machine (EVM) to expose the blob’s base fee, making it easier for Layer 2 solutions to determine gas prices. This change aligns with the BASEFEE opcode for EIP-1559 consistency. Moreover, updates to the EIP-4788 proposal were reviewed, optimizing gas usage, buffer size, and handling invalid timestamps for beacon roots stored in EL contracts. Auditors will assess these changes, with results expected before the next ACDE meeting.

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2023-09-15 09:07:12 OKX Forges Path To Enduring Sports Sponsorships Amid Difficult Crypto World

Crypto exchange OKX is setting its sights on long-term partnerships in the world of sports advertising, aiming to make a lasting impression, unlike some other crypto outfits. OKX, which also counts UEFA Champions League winners Manchester City among its partners, unveiled a new McLaren car design in Singapore ahead of the Grand Prix. The exchange allocates approximately $25-50 million annually for advertising, with a significant portion directed towards McLaren and Manchester City.

Despite these challenges, Kraken joins several other crypto brands that maintain active partnerships with Formula 1 teams, including McLaren’s deals with Tezos and OKX, Alpine’s partnership with Binance, Haas’s agreement with OpenSea, and Red Bull Racing’s reported $150 million deal with Bybit. Crypto.com also holds naming rights to F1’s Miami Grand Prix. Notably, Manchester City and OKX expanded their partnership, making OKX the club’s Official Sleeve Partner. Their logo will adorn the left sleeve of both the men’s and women’s first team kits, reaffirming their commitment to the world of sports advertising. The evolving landscape of crypto sponsorships in sports organizations, coupled with the shifting dynamics in the cryptocurrency industry, underscores the importance of forging lasting partnerships that benefit both parties involved.

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2023-09-13 16:53:36 Philippines And Vietnam Top Crypto Games Web Traffic: Report

In the realm of cryptocurrency, Central & Southern Asia and Oceania (CSAO) has emerged as a dynamic and captivating market, including the Philippines and Vietnam, with games related to this field, according to Chainalysis’ 2023 Global Crypto Adoption Index. When measured by raw transaction volume, CSAO stands as the world’s third-largest crypto market, closely following North America and Central, Northern & Western Europe (CNWE), contributing nearly 20% to global crypto activity.

India is at the forefront of this crypto surge, with an estimated influx of $268.9 billion in crypto assets during the study period. But beyond raw numbers, CSAO shines in grassroots adoption when factors like purchasing power and population are considered. The Global Crypto Adoption Index showcases CSAO’s dominance, with six of the top ten countries hailing from the region: India (1), Vietnam (3), the Philippines (6), Indonesia (7), Pakistan (8), and Thailand (10). Over the past year, CSAO has witnessed a surge in Decentralized Finance (DeFi) participation, accounting for a staggering 55.8% of regional transaction volume from July 2022 to June 2023, compared to 35.2% in the previous year.

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2023-09-12 22:45:12 FTX Holds $1.16B in SOL, $200M in Bahamas Real Estate, Court Filing Says

The estate of bankrupt FTX has marshalled around $7 billion in assets, including $1.16 billion in solana (SOL) tokens and $560 million in bitcoin (BTC), according to a Monday court filing. The presentation details billions in payments the company – previously one of the world's biggest crypto exchanges – made to senior executives including founder Sam Bankman-Fried, before it filed for bankruptcy in November.

The company collapsed after CoinDesk published revelations concerning the state of its balance sheet last year. New CEO John J. Ray III has berated financial controls at the company, while Bankman-Fried has pleaded not guilty to multiple fraud charges, with a trial due to start next month. The presentation also details $2.2 billion in cash, crypto, equity and real estate received by Bankman-Fried and other executives, including Nishad Singh, Zixiao “Gary” Wang and Caroline Ellison, in the months leading up to the bankruptcy. That may be significant because U.S. law allows such payments to be clawed back and added to the stock of assets that can be distributed to creditors.

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2023-09-11 15:43:17 Man Plans to Sue City Over Refusal to Dig for 7,500 Lost Bitcoin in Landfill

A Telegraph report reveals that James Howells is gearing up to legally challenge the local city council in South Wales, which has denied his team permission to unearth a hard drive he suspects is buried beneath the landfill. Several years back, a hard drive laden with 7,500 of Howells’ bitcoin — now valued at $194 million based on today’s BTC exchange rates — inadvertently found its way into a landfill. In a letter dispatched to the Newport City Council on September 4.

Howells has long been locked in a dispute with the city. Back in January 2021, he dangled an enticing offer before them: 25% of the BTC’s value if they permitted him to excavate to find the hard drive. Yet, that proposal fell on deaf ears. Fast forward to July 2021, Howells unveiled an innovative strategy to the media, revealing plans to harness x-ray and artificial intelligence (AI) tools to pinpoint the device storing the BTC. In the latest interview with The Telegraph, he confirmed his commitment to those tech solutions and mentioned collaboration with the landfill’s seasoned retired site manager. 25% of the BTC’s value if they permitted him to excavate to find the hard drive. Yet, that proposal fell on deaf ears.

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2023-09-10 11:04:43 DOJ Claims About Sam Bankman-Fried's Laptop Access Are 'Inaccurate', Defense Alleges

Prosecutors are exaggerating the amount of access FTX founder Sam Bankman-Fried really has to defense material, his attorneys said in a memo late Friday. Bankman-Fried continues to lack decent internet access when produced to a cell block at the Southern District of New York courthouse, and has not had anywhere near the amount of air-gapped computer access that the Department of Justice has said he would have, the letter signed by defense attorney Mark Cohen said.

Bankman-Fried's defense team has tried to have him temporarily released or given greater computer access to work on his defense, saying his Sixth Amendment rights were being violated. Prosecutors have maintained that he has had access to defense materials after his bail was revoked last month on public safety grounds. Earlier this week, the DOJ filed a letter saying Bankman-Fried now had access to multiple hard drives with defense material provided by the defense, an air-gapped laptop every day of the week and an internet-enabled laptop with a new battery provided by defense attorneys. Friday's letter detailed these issues, saying Bankman-Fried was only able to load a single document.

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2023-09-08 12:00:22 Coinbase Enhances Security Measures For Singapore Users Amidst Crypto Expansion

Coinbase, one of the leading cryptocurrency exchanges, has announced new requirements for its users in Singapore to enhance compliance with the Monetary Authority of Singapore (MAS) regulations on anti-money laundering and combating the financing of terrorism. These measures are aimed at ensuring full adherence to regulatory guidelines and may impact transaction processing for those who fail to comply.

Coinbase Singapore outlined the specific information required when sending digital assets out of wallets, including the recipient’s wallet type, exchange name (if not self-custody), recipient’s full name, and country of residence. Conversely, when receiving crypto deposits from external platforms, users must provide sender information, including the sender’s full name and country of residence. However, it’s worth noting that in June, Coinbase faced regulatory challenges when the SEC charged the platform with an unregistered offer and sale of securities linked to its staking-as-a-service program. Several US states also demanded a halt to Coinbase’s staking services.

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