Cryptocurrency News Official TheBitTimes.com

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Consensys surveyed around 15,000 people worldwide, and 92% said they ‘heard about’ crypto. What’s more: 50% of respondents ‘understand’ the asset class. Such understanding was especially high among people from emerging economies like Nigeria, Brazil, India, etc. Crypto awareness | Source: Consensys  These data points highlight the rising interest in crypto and related technologies. But there’s still much to do in terms of educating the masses about crypto concepts. You might also like: Crypto adoption across generations: examining ownership age trends Most people have only ‘heard about’ crypto or had little hands-on experience, frequently negative ones: bad UX, scams, etc. Helping users truly understand crypto is thus the key to sustained, long-term adoption. Because when knowledge is power , education is em p...

Meta ’s latest display of their metaverse technology might have you questioning the very fabric of reality. In a striking showcase, Meta CEO Mark Zuckerberg and AI expert Lex Fridman exhibited the potential of “ codec avatars ” designed by Meta ’s Reality Labs. These digital twins impeccably capture intricate facial cues and body movements is an evolutionary leap from Meta ’s previous avatars. Recording a podcast using these avatars, Fridman felt an overwhelming sense of genuine interaction. “It felt like we were talking in person,” he enthused, highlighting the revolutionary blend of AI with virtual and augmented realities. However, it isn’t just about aesthetics. Zuckerberg stressed that these avatars navigate beyond the eerie “uncanny valley”, ensuring users find the immersion familiar and welcoming. AI’s integration into Meta’s products, including Facebook, WhatsApp, Instagram, and Oculus, underscores its ...

In a stunning turn of events, CEO Tim Sweeney pointed fingers at seismic shifts in the company’s financial landscape as he lamented, “We’re spending far more than we’re bringing in.” The juggernaut behind Fortnite, Epic Games, has taken a drastic measure, slashing its workforce by a staggering 16%, amounting to approximately 830 employees. This drastic action came on the heels of overambitious projections tied to metaverse-inspired revenues, which led the company to hemorrhage funds it couldn’t afford. In a memo dated September 29, CEO Tim Sweeney laid out the harsh reality for Epic Games’ employees. He wrote, “We’ve come to the stark conclusion that layoffs are the only viable path forward. Implementing them at this juncture and on such a grand scale is imperative to bring stability to our financial standing.” Sweeney further reflected, “I had harbored optimistic hopes that we could navigate this transition without reso...

Horiza is a cutting-edge DEX platform built on Arbitrum Chain.  Horiza  is a groundbreaking decentralized exchange (DEX) protocol operating on the Base blockchain. It combines the strengths of  concentrated liquidity market makers (CLMM) algorithms and active position management introduced by Uniswap v3. With the ve(3,3) design  to align stakeholders’ incentives, as pioneered by Solidly. With its unique approach, Horiza aims to provide deep liquidity on the Base blockchain and create a decentralized market for token emissions. Generally, most AMMs face two sets of challenges: Technical  challenges include improving liquidity deployment efficiency, reducing slippage and impermanent loss, and incentivizing fee-generating pairs. Mechanism design limitations are chiefly the fact that most protocols tend to focus almost exclusively on incentivizing liquidity provision and not fee generation. Moreover, token holders don’t have a true value outside of governance. A more effective pat...

OpenAI’s latest browsing feature is currently exclusive to Plus and Enterprise subscribers but is expected to become available to all users in the near future. The announcement was made through a post on X (formerly Twitter) by OpenAI on September 27. This new capability allows ChatGPT to browse the web and incorporate the most current information into its responses. The update is already accessible to Plus and Enterprise users who are utilizing the GPT-4 model. However, it remains uncertain whether non-premium users will gain access to GPT-4 or if web browsing will be extended to the GPT 3.5 model. OpenAI has not provided clarification on this matter as of yet. OpenAI’s decision to implement web browsing capabilities for ChatGPT stemmed from the need to address the widening knowledge gap that existed prior to this update. Traditional AI models like generative pre-trained transformers (GPT) had a limitation where ChatGPT’s knowledge was limited to information avail...

A crypto analyst predicts Shiba Inu will overtake Dogecoin as the leading meme coin network. The analyst points to the use cases and projects coming out of the SHIB ecosystem as proof. Shiba Inu is the second-largest meme network and the 19th-ranked crypto network. In a recent tweet, crypto analyst Jake Gagain predicted that Shiba Inu will surpass Dogecoin as the leading meme coin network in the world. According to the crypto analyst, this will happen during the next crypto bull market. The statements of the analyst mirror the beliefs of people within the Shiba Inu community. So far this year, the Shiba Inu network has witnessed several developments geared toward improving the meme coin’s ecosystem. At present, Shiba Inu sits as the 19th-ranked cryptocurrency network, with a total market cap of $4.27 billion. Meanwhile, Dogecoin is the largest meme coin, with a market cap of $8 billion. As with the general cryptocurrency market, the token also saw a ...

BlockFi, the cryptocurrency lending platform that filed for bankruptcy, has received approval to initiate the repayment process for its customers as part of a revised liquidation plan. This development follows conditional authorization granted earlier, allowing the company to reimburse customers before proceeding with the winding-down process. United States Bankruptcy Court’s Approval The United States Bankruptcy Court of New Jersey has approved BlockFi’s third amended Chapter 11 bankruptcy plan. The plan received support from BlockFi’s chief restructuring officer, Mark Renzi, and resolved some objections raised, notably those from FTX Debtors. SEC’s Partial Objection However, the United States Securities and Exchange Commission (SEC) has only partially resolved its “limited objection” to the plan, indicating that some issues still need further clarification. Pending Technical Modifications The filing mentions that certain technical modification...

The S&P 500 dropped to a 110-day low as the market digests what “higher for longer” means for stocks. Will Bitcoin begin to chart its own path? On Sept. 20, the Federal Reserve delivered a message that reverberated through financial markets: interest rates are expected to remain at their highest level in over two decades, and possibly for longer than most market participants’ expectations. This attitude comes against the backdrop of stubbornly high inflation, with the core inflation rate hovering at 4.2%, well above the central bank's 2% target, and unemployment at record lows.  As investors grapple with this new reality, a pressing question arises: Will the S&P 500 and Bitcoin (BTC) continue to underperform in the face of a tighter monetary policy? The impact of the Fed's decision was swift and severe. The S&P 500 plunged to its lowest level in 110 days, signaling growing unease among investors. S&P 500 index (blue, right) vs. U.S. 10-year Treasury yield (oran...

Bitcoin (BTC) and Ether (ETH) broke higher today, trading above $26,650 and $1,620. Maker (MKR) hit a yearly high near $1,470 amid fresh buy pressure. Meanwhile, Shiba Memu has raised over $3.3 million in its presale as SHMU price jumps to $0.030025.  Cryptocurrency’s total market cap was up 1.3% on Wednesday morning, with the top coins Bitcoin ( BTC ) and Ether (ETH) breaking above $26,650 and $1,620 respectively. The uptick in crypto prices came as the industry looked past SEC’s latest delay of a spot Bitcoin ETF and Chase Bank’s ban on crypto payments for its UK customers. Digital asset prices were also ticking higher as US futures rose after Tuesday’s brutal sell-off that saw the Dow Jones Industrial Average book its biggest single-day loss since March. Here is the price prediction for Bitcoin ( BTC ) and Maker ( MKR ), and an overview of the new crypto project Shiba Memu (SHMU). What is Shiba Memu? Shiba Memu is the new k...

Binance, the popular crypto exchange, is exiting Russia and selling its local business to CommEX. In a statement, Binance also said it will take a year to completely pull out. Funds of its Russian users will not be affected. Noah Perlman, Binance’s chief compliance officer (COO), cited incompatibility with its compliance strategy in the current regulatory environment as the reason for exiting Russia. However, Binance remains optimistic about the long-term growth potential of web3. Consequently, the company will refocus its efforts on its operations in more than 100 other countries. You might also like: Russia’s central bank is set to launch digital ruble by 2025 To facilitate a smooth transition for users, Binance will streamline the exit process from Russia. This will involve terminating its partnership with CommEX and providing users with guidance on transferring their assets to CommEX. New users who have completed know-your-customer (KYC) registration in Russi...

Ripple Labs CTO said the company wasn’t dishonest about its plans for XRP.  Schwartz clarified that remittances and low-value but high-volume transactions are its major focus for XRP. XRP community members have called out the company for hindering the token’s utility. Ripple Labs chief technology officer, David Schwartz, said the company had not been dishonest about its plans for its native token, XRP. Schwartz made this statement in an extended debate with a pro-Bitcoin user on X (formerly Twitter). According to the CTO, Ripple’s intended use for XRP had been for low-value, high-volume transactions alongside international remittances. Schwartz made this revelation after the user queried XRP’s ability to execute multiple large transactions. The user alleged that Schwartz’s statements conflicted with what the company has been telling its community members, implying some form of dishonesty on the company ’s part. However, Schwartz countere...

KeyRock has secured anti-money laundering compliance clearance from the Swiss Financial Services Standards Association (VQF). The startup is expanding its OTC services via new on ramp/off ramp fiat currencies, including GBP and AUD. Belgian crypto market maker Keyrock has secured a key regulatory approval from the Swiss Financial Services Standards Association (VQF). The approval follows a comprehensive review of the company’s structure and processes with regard to compliance with the Swiss Anti-Money Laundering Act (AMLA) regulation. 📢 Keyrock expands its OTC services with more fiat on/off-ramp solutions. Through our Swiss VQF membership, we're now offering GBP, AUD, and 10+ other currencies alongside the standard USD and EURO. Read more about these significant milestones 👇https://t.co/4v5SRzpftY — Keyrock 🔑🪨 (@KeyrockTrading) September 26, 2023 KeyRock expands OTC desk Compliance with AMLA guidelin...

Optimism slid as much as 10% in the week leading up to a scheduled token unlock that will see 24 million OP tokens released onto the market. The price of Optimism’s native OP token is leading losses among the top 50 cryptocurrencies, falling as far as 10% on the week ahead of a $30 million token unlock . According to data from token omics platform Token Unlocks, 24.16 million OP token s, which account for roughly 3% of the circulating supply — are scheduled to be unlock ed on Sept. 30. The next OP token unlock is scheduled for Sept. 30. Source: Token Unlocks At current prices, the unlock will see a little more than $30 million worth of OP tokens hit the market, with $15.49 million going to core contributors and $14.26 million set aside for investors. Token unlocking events form a core part of many main cryptocurrency projects, with many teams choosing to gradually release tokens to the market instead of unleashing them all at once. Typically however, unlocking events are viewed by...

Crypto traders have redirected their attention towards four alternative cryptocurrencies as the price of Bitcoin remains stable. The recent period of narrow-range trading in Bitcoin suggests the possibility of a potential expansion in its trading range, which could trigger significant movements in LINK, MKR, ARB, and THETA. Despite a decline in the S&P 500 over the past four days, Bitcoin has maintained a stable trading range for the last three days. This stability is a reassuring indication that cryptocurrency traders are not succumbing to panic and rushing to exit their positions. Furthermore, there is evidence of a gradual transition of Bitcoin’s supply into the hands of long-term holders. According to data from Glassnode, short-term Bitcoin holders, defined as those who have held their coins for 155 days or less, currently possess the smallest share of Bitcoin supply in over a decade. Crypto market data daily view. Source: Coin360 In the short ...

Coinbase Ventures leads in crypto funding with over 324 rounds and an average of $8M. Animoca Brands emerged as a second player, participating in 271 funding rounds. Andreessen Horowitz tops the charts with a $25 million average funding amount. Ryan Selkis, the founder of Messari, a prominent data analytic firm in the crypto space, has pointed out the sheer number of funding rounds that have taken place this year in the crypto landscape. According to Selkis, at least 33 investors have distinctly orchestrated no fewer than ten rounds of funding for crypto projects in 2023. To add to his claim, he shared a chart detailing the investors, the rounds funded alongside the entities, their co-investors, the type of funding, the crypto sector, and the amount committed. Leading the chart was Coinbase Ventures, the corporate venture capital arm of the US-based Coinbase crypto exchange. There are 33 investors who have done 10+ rounds announced crypto deals this ...

The price of Terra Classic (LUNC) surged over the past 24 hours while most of the market recorded a loss. LUNC rebounded from the $0.00005840 support to print a higher low – resulting in the formation of a positive trend line. At press time, LUNC was trading above the key $0.00006110 resistance level. While the rest of the cryptocurrency market attempted to find its bearings throughout the past trading session, Terra Classic (LUNC) was able to achieve a 3+% gain. This standout performance enabled the altcoin to overcome a key resistance level over the past 24 hours. 4-hour chart for LUNC/USDT (Source: TradingView) Over the past 24 hours, LUNC’s price rebounded off of the support level at $0.00005840 to print a higher low. Subsequently, a positive trend line had formed on the altcoin’s charts. Furthermore, following the bounce off of this key price point, LUNC’s price entered into a bullish move to break above $0.00006110 and continued to trade above t...

The US dollar strengthened following the FOMC September meeting The Fed sees the funds rate higher for longer Ethereum should hold above $1,400 for the bullish bias to persist This year had two distinct parts for financial market participants – one characterized by the dollar ’s weakness and one dominated by the dollar ’s strength .  The US dollar runs the show both in the traditional and cryptocurrency markets. EUR/USD is the best example of the correlation between the two markets.  It opened the year at 1.06, rallied to 1.12, where it peaked during the summer, and then gave up its gains. The same dollar cycle may be seen in many cryptocurrencies.  For example, Ethereum rallied from the start of the trading year, peaked at $2,000, where it met resistance, and then corrected. Therefore, cryptocurrency traders may want to focus on the dollar’s direction in order to position on the right side of the cryptocurrency mark...

John Reed Stark, former SEC official, said the NFT and crypto ecosystems are bound to fail. He noted that 95% of NFT collections have zero market capitalization, and prices average $5 – $10. Stark said crypto will fail because of a lack of regulatory oversight and consumer protection, among other issues. Amidst sour market performances, former U.S. Securities and Exchange Commission (SEC) executive John Reed Stark said in a post on X (formerly Twitter) that NFTs will go down in history. He added that crypto is bound to face the same fate. It's Official: NFTs Will Go Down in History As Pet Rocks On Steroids (And Crypto Is On The Fast Track To Do The Same) Stick a fork in the NFT marketplace, it’s dead. Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless, less… — John Reed Stark (@JohnReedStark) September 21, 2023 Stark said that 95% of digital collectibles are now worthless, less than...