Cryptocurrency News Official TheBitTimes.com

SEBA Bank, headquartered in Zug, Switzerland, has achieved a significant milestone in its global expansion strategy. It has secured approval from the Securities and Futures Commission of Hong Kong to engage in regulated activities related to crypto. This accomplishment underscores SEBA’s unwavering commitment to offering a comprehensive range of services within the digital asset sphere. It also extends its reach into a pivotal financial hub in the Asia-Pacific region. The recently obtained license in Hong Kong grants SEBA the authority to participate in a range of activities linked to crypto . These activities encompass the trading and distribution of all forms of securities. This includes products related to virtual assets, such as over-the-counter (OTC) derivatives and structured instruments. However, virtual assets remain their underlying components. Moreover, SEBA will now be able to provide advisory services related to securities and digital assets. It is even authorized ...

In the constantly evolving realm of crypto currencies, Shiba Inu (SHIB) has once again demonstrated its commitment to innovation. Over the weekend, the Shiba Inu development team made a significant announcement that reverberated throughout the crypto currency community. They introduced a 72-hour countdown for the launch of their distinctive self-custodial identity for Shiba Inu. This revelation closely followed the recent introduction of Shibarium, a layer 2 scaling solution designed to enhance the capabilities of the SHIB crypto currency. With this latest revelation, Shiba Inu is positioned to redefine the landscape of blockchain technology. According to the official statement, the self-custodial identity initiative is described as a “game changer.” The Shiba Inu team firmly believes that it will bring about a “monumental shift in the blockchain world.” These bold statements have ignited the enthusiasm of the Shiba Inu community, affectionately known as the ...

Cryptocurrency investment products, in a remarkable trend, witnessed consecutive weeks of substantial inflows, with a staggering $78 million pouring in, as reported by CoinShares. In the preceding week, digital asset investment products continued their surge, reaching volume peaks not seen since July 2023, as detailed in a newly released report. CoinShares , the crypto asset management firm, disclosed that crypto investment products welcomed inflows for a second consecutive week, amassing an impressive $78 million, as per their weekly analytical report published on October 9. Further insights from CoinShares indicate that the volumes of crypto exchange-traded products (ETPs) experienced a remarkable 37% surge over the last week, crossing the $1.1 billion mark. Bitcoin, in particular, witnessed a notable 16% rise in trading volume on reputable exchanges, as highlighted in the report. Solana, currently ranking as the eighth largest cryptocurrency by market capitalization, conti...

As the crypto industry experiences heightened adoption, various platforms are embracing the Lightning Network for Bitcoin [BTC]. Binance, after encountering congestion during peak trading volumes, opted to integrate this layer 2 solution. Following a similar trajectory, Coinbase appears to be moving in the same direction. Recently, prominent Bitcoin advocates, including Block co-founder Jack Dorsey and MicroStrategy executive chairman Michael Saylor, were observed encouraging Brian Armstrong, the CEO of Coinbase, to adopt the Lightning Network . Dorsey candidly accused Armstrong and Coinbase of neglecting both Bitcoin and the Lightning Network last week. However, Armstrong refuted these allegations and clarified Coinbase’s position regarding the implementation of this layer 2 payments protocol. Also Read: Binance Officially Integrates Bitcoin Lightning Network We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I...

Celsius Network has been making headlines lately. This has been due to its involvement in several lawsuits in the industry. However, in a surprising turn of events, the United States Securities and Exchange Commission [SEC] filed criminal charges against the company over securities fraud. Additionally, the Commodity Futures Trading Commission and the Federal Trade Commission also filed lawsuits against Mashinsky and the organization. JUST IN: 🇺🇸 US government charges former Celsius CEO Alex Mashinsky with fraud. — Watcher.Guru (@WatcherGuru) July 13, 2023 On July 13, the SEC filed charges against Celsius Network and its former CEO, Alex Mashinsky. The charges allege that both entities were involved in securities fraud. Previously, New York Attorney General Letitia James also filed a separate lawsuit against Mashinsky. She accused him of defrauding investors by making misleading statements about the company’s status to encourage further inves...

Join Our Telegram channel to stay up to date on breaking news coverage Gate.io, a cryptocurrency exchange s, just raised $64 million for its new cryptocurrency . Entering the cryptosphere As one of the oldest Chinese crypto exchanges in existence, the project’s asset will serve similarly to Binance’s Binance Coin (BNB) in that the asset is there to ease the investment process on its respective platform. The cryptocurrency will is called Gatechain Token (GT), and so the exchange has raised $64 million to fund it. The group recently said that there were tons of backers looking to jump into the asset. Gate Token will help pay for transaction fees just like BNB. Despite this investor interest, the project won’t be live until Q4. In an interview with CoinDesk, Gate.io Chief Marketing Officer Marie Tatibouet revealed that it sent out 150 million tokens during the first phase of its fundraiser. This period went from April 8 to April 14. Making it in this world G...

The crypto -verse is full of mysteries. The actions of whales play a significant role in the crypto ecosystem, as they help the community monitor substantial transactions that have the potential to impact the market. While whale movements are frequent, there is one specific transaction that has captured the attention of the entire community. A crypto whale moved billions of Shiba Inu [SHIB] tokens into an exchange that recently announced its shutdown. A significant crypto whale executed a notable transaction by transferring an astounding amount of 499.62 billion SHIB to the Hotbit crypto exchange. What makes this move even more astonishing is the fact that the whale had remained inactive for a prolonged period of 7.5 months before making this transfer. Surprisingly, this whale has a remarkable return on investment [ROI] of over 200%. This was due to its decision to liquidate its holdings of SHIB, which were purchased at higher prices in 2022. SpotOnChain, a market tra...

The world of crypto currencies is plagued by fraudsters and scammers. The industry has experienced numerous scams of varying degrees, ranging from small-scale phishing schemes to large-scale impersonation scams. In a recent incident, a scammer posing as the President of the United States, Joe Biden , attempted to steal $450,000 worth of Bitcoin. Fortunately, the attempted scam was thwarted by the joint efforts of Kraken and prominent streamer Kitboga. As previously mentioned, Kraken uses a unique technique called “scam baiting” to identify and expose fraudulent wallets. They achieve this by creating a fake cryptocurrency account on their platform to attract and trap ill-doers. Here’s how Kraken & Kitboga dealt with ‘fake Joe Biden’ In an incident on May 10, Kitboga, a well-known streamer who specializes in exposing scammers, had an encounter with a fraudulent actor. He utilized a “custom environment” created by Kraken to interfere with the scammer. This collaboration came to fr...

With the advent of the metaverse and artificial intelligence, NFT took a backseat. The crypto industry did not lose steam while NFTs struggled for quite a bit in 2022. However, it looks like these non-fungible tokens were back in action and the Polygon network seemed to be elevating the adoption around these assets. According to reports, Nike is launching its first NFT drop on its Swoosh Web3 community platform, which it introduced months ago. A homage to the classic Nike Air Force 1 shoe from 41 years ago, the Our Force 1 (OF1) collection will feature Polygon virtual sneakers NFTs. Swoosh-ing in Style The drop will reportedly come in two varieties. The first variant entails Classic Remix sneaker boxes, which include digital renditions of Air Force 1 sneakers made between 1982 and 2006. The second one will have New Wave boxes, which include shoes that were created in 2007 and after. To honor the year of the Air Force 1’s introduction, each virtual shoe package will cost $19.82. Ho...

According to a report by Galaxy Research, venture capital (VC) investments into cryptocurrency firms continued to fall in Q1 of 2023. As per the report, $2.4 billion worth of VC funding was made in Q1 2023. The figure is the lowest reported amount since Q4 2020. Source: Galaxy Research VC funding into cryptocurrency firms peaked in Q1 2022 at $13 billion. The figure has been steadily falling since then. The current number represents an 80% decline since the 2022 peak. However, the $2.4 billion sum may be amended in the future. This is because data on venture deals are frequently released at a later period. As per the report, companies working in the Web3, NFTs, DAOs, Metaverse, and Gaming sector, bagged the most number of deals, at 116. However, companies dealing with trading, exchange, investing, and lending, raised more capital, at $538 million. Source: Galaxy Research The report also noted that American firms pulled in a majority of the funding (42.8%). The majorit...

After months of waiting and speculating, Bitcoin [BTC] finally made it past $30K. As the entire crypto community celebrated this milestone, the rest of the assets in the market followed suit. As Ethereum [ETH] inched closer to $2K, Solana [SOL] rose by 9.74%. Sadly, meme coins like Dogecoin [DOGE] & Shiba Inu [SHIB] weren’t doing as well as expected. Meme coins have managed to grab the attention of the entire world. Both Dogecoin and Shiba Inu are undoubtedly among the most popular crypto assets out there. However, unlike the others, both these coins pocketed limited gains over the last trading session. Dogecoin was trading for $0.08474 with a dainty surge of 2.17% over the last 24 hours. Shiba Inu, on the other hand, was sailing on the same boat, with only a 2.29% increase. Furthermore, SHIB was priced at $0.00001115. The reason behind this has a lot to do with the nature of the rally. As seen over the last couple of days, Dogecoin spiked right after Elon Musk chan...

March proved to be a tumultuous month for the cryptocurrency ecosystem. With volatility written all over the market, several assets benefitted from the asset’s highs and lows. Amidst this, the social volume and presence of these cryptocurrencies also followed suit. As the month comes Lunar Crush shared a chart that showed the social emergence of Bitcoin [BTC], Ethereum [ETH], and others while meme coins like Shiba Inu [SHIB] lagged. March 2023 is coming to an end. Here are the top 10 coins by one-month LunarCrush AltRank:$ btc #Bitcoin $eth #Ethereum$link #Chainlink $bnb #BinanceCoin $avax #Avalanche $doge # Dogecoin $matic #Polygon $sol #Solana $xrp #XRP https://t.co/uMtMd3PkwF… pic.twitter.com/oU6W8TL2mr — LunarCrush (@LunarCrush) March 30, 2023 As seen in the above chart, Bitcoin led the rest of the assets as the king coin surged to a high of $29,159 this month. Ethereum’s Shapella upgrade allowed the asset to land a second place on the list. Surprisingly, Chainlink [LINK] too...

Signature Bank was the third victim of the back-to-back bank collapses recently. The year 2023 has been ablaze with headlines about the unexpected shutdowns of some of the banking industry’s titans. The likes of Silvergate Bank, Silicon Valley Bank, and Signature Bank have all bitten the dust. These three financial giants share a common characteristic: they are all known for their support of cryptocurrency businesses. Also read: Ethereum: Shanghai Hard Fork Gets an Official Date Barney Frank, a board member of the Signature Bank , earlier stated that the action was a very strong “anti-crypto message” by the authorities. Now, according to the latest news shared by two anonymous sources with Reuters, the Federal Deposit Insurance Corporation ( FDIC ) has asked the buyers of Signature Bank to stop doing business with cryptocurrency firms. Source: AP News Is Signature Bank and other shutdowns part of an anti-crypto plan? The reports, if proven true, will confirm the ...

After missing the deadline for filing its annual report, Silvergate has come under fire. Concerns were raised about the delay in filing the report since the bank said it was assessing its operational viability. The red flags definitely raised concerns, as cryptocurrency firms ended their relationship with the bank. On the list, Crypto.com was a notable name. With the ongoing issues in place, Crypto.com is currently only providing Euro-denominated banking services to European Economic Area users. This is due to the lack of a trustworthy banking partner for the USD deposits. Also read: Binance Unveils Major Upgrade to its Proof-of-Reserves Source: Bitcoinist Crypto.com is struggling to find a reliable banking partner The falling cryptocurrency prices and the deteriorating relationship with the banks have made the situation worse for Crypto.com . Initially, the exchange was partnered with Transactive Systems. However, the relationship was affected when it was ordered ...

Tesla’s CEO, Elon Musk, has been an integral part of the cryptocurrency ecosystem. While he is evidently inclined towards the OG meme cryptocurrency, Dogecoin [DOGE], other meme-inspired tokens are also seen making the most of it. Floki Inu [FLOKI] was one among them. It isn’t news that Dogecoin has been increasingly influenced by Musk’s tweets. Since Musk’s last tweet about Twitter’s new CEO, Floki Inu has also registered market highs. The asset even beat Dogecoin in terms of daily growth. On Wednesday, Musk shared a tweet claiming to “let the dogs out.” This tweet caused a minor increase in Dogecoin ; Floki Inu , on the other hand, increased by more than 30%. At press time, the meme coin was trading for $0.00005293, with a 31.39% daily increase. It should be noted that the asset bounced from a low of $0.00003827 to a high of $0.00005592. Source – FLOKI/USDT Chart on TradingView As seen in the above chart, the previous ...