Crypto Latest: 15 Top News
SoFi Technologies is discontinuing its crypto services, informing customers to either liquidate their crypto assets by Dec. 19 or migrate them to Blockchain.com. The decision follows regulatory pressures and strategic shifts. SoFi, initially a student loan refinance company, faced a conditional bank charter regarding crypto. Meanwhile, Blockchain.com gains potentially hundreds of thousands of SoFi’s customers through this transition.
Bitcoin Edges Up, Dogecoin And Ethereum Diverge As BTC ETF Landscape Expands: Analysts Sees Apex Crypto Breaking $38K
Major cryptocurrencies showed mixed performance Wednesday amid developments in the Bitcoin ETF race and FTX estate’s asset sale approval. Swiss Pando joined the ETF competition, while FTX’s trust assets, including Grayscale and Bitwise fund shares worth $873 million, were greenlit for sale. These events influenced the market, with Bitcoin and Ethereum showing slight variations and IOTA leading gains.
Since October, Ethereum’s staking pool has observed an increase in validators withdrawing their staked ETH, reports Glassnode. An average of 1018 validators have left the network daily, coinciding with Ethereum’s price upswing. This trend has led to a decline in unique addresses holding at least 32 ETH and a corresponding decrease in Ethereum’s daily issuance rate.
The crypto market cap dipped 0.5% to $1.42 trillion, reflecting a pullback in an otherwise upward trend since mid-October. Bitcoin experienced a sell-off, hovering above $38.4K, without clear signs of a major drop or surge. Amidst this, CryptoQuant noted whale movements as bearish, while Standard Chartered predicted Bitcoin could reach $100K by the end of next year.
Cryptocurrency investments like BorroeFinance ($ROE), Blur (BLUR), and Sandbox (SAND) offer promising returns. BorroeFinance is anticipated to grow 300% in its presale, potentially turning $100 into $1,000. BLUR surged 75% post-Binance listing, while SAND benefits from a strategic partnership with CoinDCX. These diverse options cater to investors aiming for significant gains, with BorroeFinance showing notable potential
Cryptocurrency investments like BorroeFinance ($ROE), Blur (BLUR), and Sandbox (SAND) offer promising returns. BorroeFinance is anticipated to grow 300% in its presale, potentially turning $100 into $1,000. BLUR surged 75% post-Binance listing, while SAND benefits from a strategic partnership with CoinDCX. These diverse options cater to investors aiming for significant gains, with BorroeFinance showing notable potential.
In Navi Mumbai, a 38-year-old man was defrauded of Rs 4.07 lakh by three individuals, including two women, who falsely promised lucrative returns from Bitcoin trading. According to PTI, the victim invested through a digital platform linked to a company between March and June, misled by the assurance of quick, substantial returns.
Litecoin (LTC) is showing signs of recovery after facing resistance at $72.20, having dipped below the $70 and $68 levels. Currently, it is attempting an upward move, trading above $68.50. Key resistances lie at $70.50 and $72.20. Overcoming these could lead to further gains, while failure might result in a decline towards the $65 mark.
As FTX’s bankruptcy proceedings continue, advisors have gained court approval to sell digital trust shares from Grayscale and Bitwise, valued at $873 million. These shares include holdings in several Grayscale trusts and the Bitwise 10 Crypto Index Fund. The sale aims to recover funds for repaying creditors and affected customers amid FTX’s ongoing financial challenges.
The Delaware bankruptcy court authorized FTX to sell trust assets worth over $873 million, initially valued at $744 million, to satisfy creditor claims. This includes significant stakes in Grayscale Investments and Bitwise assets. The move is part of FTX’s strategy to maximize estate value and mitigate market risks amid its complex bankruptcy proceedings and asset recovery efforts.
Australia’s Department of the Treasury proposed a new framework to combat consumer and business scams, considering specific codes for sectors like banking and cryptocurrency. Announced on Nov. 30, this initiative, complementing ACCC’s efforts, aims to assign mandatory industry codes to various sectors to enhance scam prevention, detection, and response, addressing the significant rise in scam losses in 2022.
Robinhood plans to launch in the U.K. by early 2024, offering 6,000 U.S. stocks and 24-hour trading. This marks their third attempt at international expansion. The U.K. platform won’t initially include local stocks or derivatives. Robinhood’s U.K. chief, Jordan Sinclair, emphasizes the appeal of 24-hour trading, allowing immediate reaction to market news.
Charles Hoskinson Seeks Credit for Cardano’s Influence on Ethereum as Perceived Feud Intensifies ⋆ ZyCrypto
Cardano’s founder, Charles Hoskinson, criticizes the Ethereum network for not crediting Cardano’s innovations, asserting that Ethereum is mimicking features Cardano has long incorporated. In response to community criticism, Hoskinson highlights Ethereum’s lack of acknowledgment despite its apparent restructuring to resemble Cardano’s system, including the use of a UTXO (Unspent Transaction Output) model similar to Cardano’s Extended-UTXO.
The U.S. Treasury Department is pushing for new powers to extend its enforcement and sanctions authority over the crypto sector. Deputy Secretary Wally Adeyemo’s proposal, seeking unprecedented global reach, aims to target entities aiding terrorism and enhance powers under the Bank Secrecy Act. This includes control over transactions involving stablecoins and expanded jurisdiction over various crypto entities.
According to BanklessTimes.com, Google Trends reveals a 42% increase in crypto interest since October, signaling growing public engagement. Alice Leetham, a crypto expert, views this as a sign of the industry’s resurgence. Google Trends tracks the popularity of search queries, offering insights into public interest, though it lacks qualitative analysis to distinguish between informational searches and investment intent.