InvestmentTradingUpdates

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2022-11-25 09:53:02 10,000 BTC tied to Mt Gox Hack Moved After 7 Years

It is worth noting that funds have not moved from the now-defunct Mt.Gox exchange’s cold wallets since 2018. A crypto wallet attributed to the failed BTC-e linked to the 2014 Mt. Gox hack moved 10,000 Bitcoin, now worth over $165 million, to a group of personal wallets, exchanges, and other services on November 23rd.

According to the blockchain analysis company, around 9.950 BTC are currently being held in personal wallets of the total sent in the last several days. The rest of the funds were found to have been moved through a series of intermediaries to four deposit addresses at two large exchanges. Blockchain analytics firm CryptoQuant co-founder and CEO Ki Young Ju also confirmed the illicit transfer of funds.

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2022-11-24 05:15:02 Bitcoin on-chain data shows a ray of light in a dark market

The collapse of FTX might have wrecked the industry and wiped out billions from the market, but it does not seem to have shaken people’s convictions in Bitcoin. The fact that BTC has been struggling to break $16,000 over.

Characterized by an uptick in daily active users, a higher transaction throughput, and an increased demand for block space, growing network adoption has historically been a bullish sign. Growth in the number of addresses holding BTC indicates a larger degree of on-chain activity taking place on the network. One of the best measurements of network adoption is the number of non-zero balance addresses.

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2022-11-23 09:53:02 Crypto market liquidity dries up following Alameda and FTX collapse

The crypto market has experienced a liquidity dry up in the wake of the collapse of crypto exchange FTX and its sister trading firm Alameda Research, according to data provider Kaiko. The firms, both founded by disgraced former billionaire Sam Bankman-Fried, were key market participants until they filed for bankruptcy protection.

Crypto liquidity is dominated by just a handful of trading firms, including Wintermute, Amber Group, B2C2, Genesis, Cumberland and [the now defunct] Alameda," the firm said. "With the loss of one of the largest market makers, we can expect a significant drop in liquidity, which we will call the 'Alameda gap. Kaiko said that bitcoin's market depth — which refers to the market's ability to absorb large orders over a specific period of time.

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2022-11-22 05:05:02 Binance Sees Potential in India Workers Despite Doubts Over Market Development

Binance sees India as a source for a new generation of employees, despite its doubts about business developments in the country. Binance chief technology officer Rohit Wad said that India would be one point of focus for upcoming internships. Wad said that Mumbai would be among five cities Binance is sourcing.

Zhao said that India’s repressive tax policy towards cryptocurrencies made it infeasible for conducting transactions at any significant scale. In addition to taxing income on the sale of any virtual assets at 30%, India imposes a 1% tax deduction at the source for crypto purchases. Zhao said this rate of taxation prohibits trading at any meaningful volume, as profits would dwindle with each additional transaction. He cited the country’s hostile approach to cryptocurrencies as the main reason it is not a viable place for expansion.

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2022-11-21 08:19:02 JPM’s Jamie Dimon: Regulators Have Done ‘Nothing’ to Stem Crypto Fraud

JPMorgan CEO Jamie Dimon in Texas this week said Sam Bankman-Fried will probably end up in jail — adding that regulators “haven’t focused on crypto at all” and have instead “done nothing,” according to a source familiar with the matter. JPMorgan chief executive’s bank have embraced crypto and offered related exposures to clients.

The Wall Street heavyweight has also snapped up stakes in sector startups. And it’s even carved out its own metaverse niche via a bank-branded Decentraland virtual lounge. Not to mention that one of the bank’s own crypto analysts, Steven Alexopoulos, penned a research note for institutional clients, saying the fall of FTX is “potentially dramatically accelerating the timeline” of regulation, according to ZeroHedge. Fair and stringent digital asset regulatory measures are necessary — and overdue.

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2022-11-20 10:04:02 Bahamas Liquidators Discover Possibilities Of Fraud From FTX

FTX fiasco, the embattled crypto exchange has got it hot from all corners. On one side is the intensive investigation by the regulators, then legal actions from creditors. A few days after the collapse, the legal actions against the FTX exchange increased. Moreover, the latest update from the bankruptcy filings suggests the firm committed severe offences.

FTX’s Bahamian liquidators submitted some documents to the Southern New York District’s Bankruptcy Court. The documents revealed that Joint Provisional Liquidators’ discovered fraud and mismanagement on the part of the crypto exchange. The court would rule its judgment under Chapter 15 of the United States bankruptcy code, which handles insolvency cases involving many countries.

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2022-11-19 09:50:08 Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa

Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has 800 payment corridors across the continent.

The United States-based technology company, Ripple, announced on Nov. 14 that it had formed a partnership with MSF Africa that is expected to help “streamline [MSF Africa’s] real-time mobile payments for their customers across 35 countries.” As part of the agreement, MSF Africa, a leading fintech group on the continent, will use Ripple’s crypto solution known as on-demand liquidity (ODL).

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2022-11-18 08:54:02 Crypto exchange Bitstamp registers with Spain's central bank

Bitstamp, the longest-running crypto exchange, has secured its registration in Spain’s central bank. The Luxembourg-based exchange is now able to legally provide its services to Spanish users, both for fiat currency and digital assets. The assessment of Bitstamp’s eligibility began in January when the exchange applied for the authorization.

Registration with the Bank of Spain means that Bitstamp needs to comply with anti-money laundering and counter-terrorist financing provisions. It also means that the exchange is subject to national laws regarding crypto advertising, which the National Securities Market Commission announced at the beginning of the year. Once the new laws are in place, exchanges will be able to “passport” their registration.

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2022-11-17 09:36:02 BlockFi preps possible Chapter 11 bankruptcy protection filing: WSJ

Crypto lending firm BlockFi is preparing for a possible Chapter 11 bankruptcy protection filing, according to the Wall Street Journal. The firm also plans to conduct layoffs, the journal reported, citing people familiar with the process. citing "significant exposure to FTX and associated corporate entities.".

BlockFi signed a credit deal with FTX US earlier this year with the right to be potentially acquired. Since FTX's collapse, BlockFi has struggled to continue business operations. Last week, BlockFi’s founder and chief operating officer, Flori Marquez, had said on Twitter that all of the company’s products were operational and client withdrawals were being processed. Marquez had also said that BlockFi’s credit line was from FTX US and that BlockFi would be an independent entity until at least July.

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