Crypto Insider

2024-06-25 20:52:09 Jump’s Kariya, Who Went From Intern to Crypto Leader, Is Leaving Trading Giant

Kanav Kariya, who rose from intern to head of cryptocurrencies at Jump Trading, has announced his departure from the company. His tenure saw significant events, including the Wormhole hack and the Terra collapse.

The exit comes amid a reported CFTC investigation into Jump’s crypto dealings. Despite challenges, Kariya’s leadership marked a notable period in Jump’s crypto operations.

At just 28, he plans to remain engaged with portfolio companies while reflecting on his eventful time at Jump.

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2024-06-25 18:36:08 Mt. Gox Redemption Fears ‘Overblown,’ Say Traders As $10B BTC Holdings Draw Concerns

As Mt. Gox prepares to distribute stolen Bitcoin from the 2014 hack, traders suggest the market impact might be less dramatic than initially thought. Analysts point out that many creditors may hold onto their Bitcoin due to its low cost basis, while others have already sold their claims.

Galaxy Research estimates that a significant portion of the distributed Bitcoin may not be immediately sold. While the news initially caused a price dip, the long-term effect on Bitcoin’s market could be more muted than anticipated.

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2024-06-24 21:15:02 Bitcoin’s Double Top Suggests BTC Could Fall to $50K: Analyst

Recent price action has formed a bearish double top pattern in Bitcoin’s chart, suggesting a possible trend reversal. Analyst Markus Thielen warns of a potential drop to $50,000 or even $45,000.

However, upcoming events like the U.S. election and CPI data could provide bullish momentum later this year. The PCE price index release on Friday may offer relief if it shows slowing inflation, potentially supporting Fed rate cuts.

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2024-06-24 18:50:25 Mt. Gox to Begin Repayments in July; BTC Slides Under $61K

After years of delays, Mt. Gox, the defunct Bitcoin exchange, has announced it will begin repaying victims of its 2014 hack in July 2024. Over 140,000 BTC and Bitcoin Cash (BCH) will be distributed, potentially adding selling pressure to the crypto market.

The news caused a slight dip in Bitcoin’s price. While this marks progress for affected users, it also raises concerns about short-term market volatility. Investors should monitor the situation closely as it unfolds.

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2024-06-23 20:42:47 Bitcoin’s Future Amid Potential Federal Reserve Rate Cuts

Crypto analyst Lark Davis explores the potential effects of Federal Reserve rate cuts on Bitcoin’s price. Historically, rate cuts have boosted financial markets, benefiting assets like stocks and real estate.

Davis suggests Bitcoin could see a bullish phase if rate cuts coincide with increased global liquidity and growing demand from spot ETFs.

While immediate reactions are uncertain, the long-term outlook appears positive.

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2024-06-23 18:38:10 Phishing Scam Costs User $11 Million

According to Scam Sniffer, a recent phishing scam resulted in a MakerDAO governance delegate losing over $11 million in tokens.

Long story short, this scam case shows the dangers of permit signatures, which allow offchain authorization for smart contract interactions. While convenient, this feature can be exploited by scammers posing as legitimate websites.

To protect yourself:

Verify website authenticity before signing anything

Be cautious of requests for offchain signatures

Use wallets with clear signature information displays

Stay informed about common scam tactics

This case serves as a stark reminder that even experienced users can fall victim to sophisticated phishing attempts. Always prioritize security in the fast-paced crypto world.

#ScamDecoded

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2024-06-22 21:06:00 MicroStrategy’s Michael Saylor Reacts to Bitcoin Price Lull

As Bitcoin hit a one-month low of $63,300, MicroStrategy’s Michael Saylor reacted with his trademark optimism. He shared a meme featuring Cookie Monster eating Bitcoins, maintaining a light-hearted approach to market volatility.

The price dip coincides with $545 million in outflows from Bitcoin ETFs this week, potentially signaling cooling institutional interest. Despite short-term fluctuations, Saylor’s response underscores his long-term bullish stance on Bitcoin as a hedge against inflation.

His ironic tweet serves as a reminder for investors to focus on Bitcoin’s broader potential rather than temporary price movements.

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2024-06-22 18:59:35 Massive Sell-Off As Chainlink Unlocks $300M of LINK, Sends to Binance

Chainlink has unlocked 21 million LINK tokens worth nearly $300 million, with 18.75 million sent to Binance, potentially for sale. This represents a significant supply increase and continues a trend of token unlocks since 2022, resulting in 26.4% inflation over two years.

Despite these regular sell-offs, LINK’s price has shown resilience, up 127.6% year-over-year. This performance suggests strong demand, possibly driven by Chainlink’s role in the growing real-world asset tokenization trend. However, future unlocks from remaining non-circulating supply could pose price risks.

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2024-06-21 23:56:48 Bitcoin Slumps Under $64K Amid Historic ‘Negative’ Sentiment

Bitcoin’s price has fallen to a five-week low of $63,700, down 9% over the past month. This decline coincides with four weeks of “extreme negative” crowd sentiment, according to Santiment’s analysis.

While this negative sentiment often precedes price bounces, other factors like $1 billion in whale sales, dollar strength, and ETF outflows are pressuring BTC. Google Trends data also shows declining retail interest. Some traders anticipate further drops to $60,000, though long-term outlooks remain bullish. The current mood highlights the market’s cyclical nature between fear and optimism.

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2024-06-21 18:37:14 Michael Saylor’s MicroStrategy Acquires 11.9K More Bitcoin for $786M

Michael Saylor’s MicroStrategy has acquired an additional 11,931 Bitcoin for $786 million, bringing its total holdings to 226,331 BTC worth nearly $15 billion. This purchase, funded by an $800-million convertible note offering, continues the company’s strategy of accumulating Bitcoin as a reserve asset.

While MicroStrategy’s approach has led to a tenfold increase in its stock price over four years, it remains a controversial strategy. Some companies like Semler Scientific are following suit, while most corporations remain cautious about adding significant cryptocurrency to their balance sheets.

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