Feb 02 2024
Meitu, the pioneering Hong Kong-listed company known for its ventures into cryptocurrencies, has recently announced a strategic shift away from digital assets. The company, which made headlines in 2021 for investing around $100 million in cryptocurrencies, revealed that its growth is now driven primarily by its artificial intelligence (AI) business. The decision is rooted in …
Feb 02 2024
ChatGPT said that whether Bitcoin hits $100K after the SEC approves a spot BTC ETF hinges on multiple considerations. Approval of a spot Bitcoin ETF could make it easier for institutional investors to gain exposure to Bitcoin. Increased institutional interest might lead to higher demand and potentially higher prices. ChatGPT also said that if the …
Feb 01 2024
Caroline Ellison, SBF’s ex-girlfriend, took the witness stand twice this week. Ellison, former Alameda CEO, said that while she had a business executive position at the trading firm, it was Sam who specifically directed her on how to use Alameda’s funds, move capital, and talk to institutions and investors. Ellison stated that Sam pressured her …
Feb 01 2024
The market share of the world’s largest cryptocurrency exchange Binance has recovered significantly after plunging in the second half of 2023. The U.S. regulatory crackdown on the exchange peaked in November when the Department of Justice (DOJ) a $4.3 billion settlement with the trading platform over several charges, including a willful flo. According to a …
Feb 01 2024
Ripple CEO Brad Garlinghouse has expressed his validation of the U.S. Securities and Exchange Commission’s decision to authorize financial institutions to offer investors spot Bitcoin exchange-traded fund (ETF) products. In a recent with FOX Business, the Ripple boss noted that the approval from the financial regulator is a step closer to bringing cryptocurrencies like Bitcoin …
Jan 31 2024
The cryptocurrency market seems to have been cooling off throughout the past seven days, decreasing to its current capitalization of $1.69 trillion. This comes a week after the United States Securities and Exchange Commission approved a spot Bitcoin ETF. In general, BTC dropped by 8.4%, SOL – by 6.1%, XRP – by 9.1, ADA – …
Jan 30 2024
The Fantom Foundation has been drained of hundreds of millions of dollars from its crypto wallets by a phishing scammer. Fantom is a smart contract and Dapp platform focused on enhanced speed, making transactions more efficient than other layer-one blockchains like Ethereum. The foundation, which oversees development for the Fantom blockchain, lost at least $470,000 …
Jan 30 2024
The leading cryptocurrency is hitting new all-time highs in Nigeria, Turkey, and Argentina as residents turn to the safe haven asset amid soaring inflation rates. Bitcoin surged to 28.4 million Nigerian naira (NGN), 12.4m Argentine pesos (ARS), and 979,000 Turkish lira (TRY) as the fiat currencies of these countries continue to free-fall. According to from …
Jan 30 2024
New York Attorney General Letitia James has taken decisive action against major players in the cryptocurrency industry. James filed a lawsuit against Gemini Trust, Genesis Global Capital, and Digital Currency Group (DCG) The legal action centers around Gemini Earn, a joint effort between Genesis and Gemini that offered investors significant returns on their cryptocurrency deposits. …
Jan 30 2024
Horst Jicha, 64, founder and CEO of USI Tech, is alleged to have defrauded investors of approximately US$150 million. He departed the U.S. in early 2018 and did not return until December 2023 when he attempted to go on vacation in Miami, Florida, where he was promptly arrested. According to the indictment, USI tech advertised …