Cryptocurrency News Official TheBitTimes.com

The cryptocurrency market is known for its volatility and ever-changing landscape. As invest ors seek more stable options, the recent retreat of Bitcoin SV ($BSV) raises questions about which crypto to buy today for the long term.  Let’s explore the current state of Bitcoin SV and examine whether Solana ($SOL), InQubeta ($QUBE), and Aptos ($APT) present more stable investment prospects.  Bitcoin SV Starts to Retreat Top crypto for beginners like Bitcoin SV ($BSV) often has big price ups and downs. On October 22, Bitcoin SV’s price dropped by 6.10% against the US Dollar and 6.67% against Bitcoin. These figures are worse than the performance of the cryptocurrency market as a whole, which only dipped by 1.91%.  It’s important to look at these movements over a longer period. Bitcoin SV increased by an impressive 72.10% last August – showing it has potential in the medium term – and by 45.77% over the past three month...

The US Treasury Department said a Gaza-based crypto exchange was included in a list of 10 Hamas-linked entities it has sanctioned following the militant group’s attack on Israel. Buy Cash Money and Money Transfer Company has a history of enabling terrorism financing, it said in an Oct. 18 release. It added that Israel’s National Bureau for Counter Terrorist Financing seized a number of wallets in connection to a Hamas fundraising campaign in June 2021 and one of the wallets belonged to the exchange. “In addition to involvement in Hamas fundraising, Buy Cash has also been used to transfers funds by affiliates in other terrorist groups,” it said. “In September 2019, Buy Cash’s Bitcoin wallet 19D1iGzDr7FyAdiy3ZZdxMd6ttHj1kj6WW received a Bitcoin transfer equivalent to over $2,000. The transfer was facilitated by a Türkiye-based money services business operator and al-Qa’ida affiliate.” Blockchain analytics firm Elliptic said it was a...

Lido DAO sunsets Solana project due to financial issues, backed by 92% community vote. P2P team considered $1.5M funding or Solana exit due to $484,000 losses. Solana staking to be halted by February 2024. In a decisive move, Lido DAO has chosen to sunset the Lido on Solana project, following a resounding community vote in favour of this course of action. The decision has been attributed to the project’s financial constraints, leaving it unsustainable. Following the move, the value of the LDO token , Lido DAO’s native cryptocurrency, has dropped by almost 4% in the past few hours. Lido DAO (LDO) price chart Sunsetting Lido on Solana The Lido on Solana project will undergo a phased sunset process over the coming months. Notably, stSOL token holders will have until February 2024 to unstake their assets through the Lido on the Solana frontend. This decision was reached after extensive deliberations and a community vote, with over 92% of Lido t...

Memeinator presale has entered the fourth stage. The presale occurs in 29 stages, with the token returning by 132%. Memeinator carries a 1,000% potential due to strong speculation and utility. The crypto landscape keeps changing, with new tokens and regulations shaping the future of the sector. In response to the uncontrolled growth of new meme tokens,  Memeinator (MMTR) has come to create order. Within a few days of presale, the token raised $703,442, with more investors buying it. Conversely, Australia is endearing itself as a crypto -friendly jurisdiction with new licensing proposals. Are these developments positive? Australia eyes a new crypto licensing regime for exchanges Australia’s Treasury has  proposed new licensing and custody regulations for crypto asset providers. The latest  cryptocurrency news says regulators could issue the draft regulations by 2024. Exchanges will be given 12 months to comply with the new lice...

FTX Estate stakes $122 million worth of Solana (SOL) tokens. The FTX Estate has strategically delegated 5.5 million SOL with a Solana network validator. The move alleviates concerns about the estate’s potential liquidation of SOL holdings. In a significant move within the cryptocurrency landscape, the FTX estate has staked over 5.5 million Solana (SOL) tokens , amounting to a substantial $122 million, with Figment, a prominent validator on the Solana network as reported by on-chain data from SolanaFM. This development comes amid ongoing discussions and speculations within the crypto community regarding the estate’s handling of its substantial Solana holdings. Here’s an overview of the recent events and implications. FTX Estate’s strategic staking of Solana tokens The move of staking such a huge amount of Solana tokens with Figment has captured the attention of industry observers, particularly in light of concerns regarding potenti...

Coinbase, the largest US crypto exchange, has expressed concerns about the new crypto tax proposal created by the Internal Revenue Service (IRS). As CoinDesk reported, the new rule would require newly designated brokers to report sales and exchanges of digital assets. The law would not include miners and stakers, but experts believe it would still negatively affect all aspects of the crypto industry. JUST IN: #Coinbase is expressing opposition to a recent proposal put forth by the U.S. Internal Revenue Service (IRS). They argue that this proposal has the potential to put the #crypto industry at risk and compromise the privacy of Americans. — Crypto Headlines 📜 (@Idreesahmadjr) October 12, 2023 IRS Presents Long-Awaited Proposal, and It Will Only Harm the Crypto Industry Two years ago, the Infrastructure and Jobs Act (IIJA) passed a bill that obligated broker information reporting to digital asset transactions in the US. The IRS was put in charge of implementing t...

Radix teams up with Hacken for enhanced ecosystem security. Shiba Memu, a unique AI-driven meme token, is revolutionising marketing and interaction. Shiba Memu’s roadmap involves an ongoing presale, centralized exchange listings, AI marketing dashboards, and integration with decentralized apps. In a move aimed at fortifying the security of its ecosystem, Radix, a layer-1 smart contract platform, has partnered with Hacken, a trusted blockchain security auditor. Hacken will now take on the role of the primary security code auditor for projects operating on the Radix platform. Radix, known for its full-stack capabilities and layer-1 smart contract platform, is a pioneering platform that allows developers and users to engage with Web3 and decentralized finance (DeFi) through decentralized applications (dapps). At the core of Radix’s offerings is its Scrypto programming language, which streamlines the creation and execution of smart contracts. Enhanci...

Hong Kong police warned that 11 Binance users fell prey to a series of phishing scams that resulted in total losses of more than HK$3.5 million ($450,000).  “Fraudsters posing as Binance sent text messages claiming that users must click the link in the message to verify their identity details before a deadline, otherwise their account would be deactivated,” it said. The police quickly issued a warning on Facebook through its CyberDefender program. After clicking on the fake link and going through the verification process, the hackers managed to get into the Binance accounts of the victims.  To prevent additional harm, the police are encouraging anyone who believes they may have received a suspicious message to report it using the “fraud prevention” section on the official police website . In an effort to assist residents in identifying legitimate exchanges and safeguarding their investments, the police shared the Hong Kong Securities and Futures ...

Islamic Coin will list on KuCoin exchange on October 10th. The crypto project has been making partnerships this year. It launched a public sale on Republic only a few days ago. Islamic Coin is scheduled to go live on one of the world’s largest crypto exchanges by volume – KuCoin, on October 10 th . Islamic Coin team participated in COP27 The Shariah-compliant cryptocurrency is committed to improving access to financial services while also keeping energy consumption in check in line with directives of the United Nations. Islamic Coin participated in a bunch of prominent events over the past twelve months including the Youth International Conference and COP27 in pursuit of cultivating connections. Mohammed AlKaff AlHashmi – its Chief Executive Officer said in a press release today: We look forward to building more relationships with leading exchanges, to bring benefits of Shariah-compliant finance to Muslim community and beyond. Earlier th...

Binance and OKX recently restructured their businesses to comply with the new rules that the UK’s Financial Conduct Authority (FCA) had implemented. The regulator introduced the new rules in June of this year, and they officially took effect yesterday, October 8. Binance Launches a Separate Platform for UK Customers In response to the new requirements, Binance launched a new domain for UK users two days before, on October 6. The latest Binance UK branch also teamed up with Rebuildingsociety.com, a UK-based, FCA-regulated company that will be in charge of overseeing the exchange’s communications and marketing. The new platform grants UK users access to several Binance’s services, all previously approved by the FCA. This includes crypto and fiat deposits, spot and margin trading, crypto conversions, loans, an NFT marketplace, and Binance Pay and Binance Launchpad access. However, some of the exchange’s services will not be allowed in the country, such as Binan...

JPEX’s attempt to transition into a DAO has sparked controversy and frustration among some users. The users who claim their assets were converted without their consent. The exchange is also facing scrutiny from authorities in Hong Kong. In a surprising move, the JPEX cryptocurrency exchange has initiated a contentious DAO Shareholder Dividend Scheme, leaving some users in distress as their assets reportedly get converted without their consent. JPEX recently announced its intention to transform into a decentralized autonomous organization (DAO) and offered users the opportunity to convert their frozen asset s into DAO Stakeholder dividends at a 1:1 ratio. Additionally, the exchange introduced a repurchase option, allowing users to recover 30% of the conversion price after one year and 100% after two years. Disquiet among customers JPEX’s scheme was seemingly devised to tackle JPEX’s ongoing liquidity challenges, providing an incentive for...

The crypto industry may not survive and even if it does it can’t be regulated locally, said Portugal’s central bank governor. “It is still unclear whether these highly volatile products are here to stay,” said Mário Centeno in a speech on Oct. 2. “These volatile products experienced an enormous surge in popularity during the Covid-19 pandemic, but proved to be unsustainable and, unsurprisingly, culminated in the collapse of several products.” Centeno called for more international cooperation to address what he called crypto’s fragmented regulatory landscape. An international approach is needed, he said, in the same way it is needed for the oversight of bigtech companies. ”It would be short-sighted to believe that regulating and supervising these global risks and international players at the national level will suffice,” he said. ”“We need international cooperation and coordination to set up a robust framework an...

The Walt Disney ‘s Plans for NFT and Crypto Adoption. Disney posted a job listing on Friday for a principal counsel specializing in non-fungible tokens (NFT) and decentralized finance (DeFi), hinting at its broader Web3 expansion across the Disney ecosystem. Meanwhile, Disney is seeking legal counsel to help it navigate crypto, NFT and DeFi regulations as it expands its Web3 strategy. The full-time position, which operates within the legal department of the Walt Disney Company, calls for an experienced corporate attorney to “work on transactions involving emerging technologies, including non-fungible token NFTs, blockchain, metaverse and decentralized finance defi.” The position would provide guidance on “global NFT products” across the company’s business branches, including Disney Media and Disney Parks, Experiences and Products, and ensure compliance with U.S. and international laws and regulations. Specifically, the position would “evaluate s...

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...

A crypto whale has lost $4.46 million in a phishing scam when USDT was illicitly transferred from the owner’s wallet on Kraken to a scammer’s wallet. Crypto Scammers Strike Again The scam was flagged by PeckShield, a blockchain security company, which labeled the address ending in “ACa7” as a phishing scammer’s address. Soon after, Scam Sniffer, a blockchain scam platform, added information about the incident, revealing that the funds were routed to an address connected to a “fake Coinone crypto mining exchange.” #PeckShieldAlert The address 0x2175…f7D9 got scammed for 4.46M $USDT Victim's address: 0x2175c0082d052872501f7fe54e1aC59858aaf7D9 Scammer's address: 0xAbb07822F471773Ff00b9444308ceEB7cf0dACa7 pic.twitter.com/Ny9CIrkBxw — PeckShieldAlert (@PeckShieldAlert) September 21, 2023 Although the specifics of how the scam was carried out are still being investigated, the huge amount at stake highlights the sophistication empl...

A smart Coinbase bot helped the crypto exchange gain $1 million from the $73 million hack against Curve Finance in July, but now it’s facing criticism for not returning any of the money to help the victims. That’s according to a Coin Desk report, which says that when the hack threw Curve’s asset-pricing system out of whack, the Coinbase trading bot pounced. It  paid 570 ETH to take advantage of an arbitrage opportunity that helped it snare a $1 million profit for the exchange. While Coinbase is not under any legal obligation to return the funds, Alchemix requested that it send back money to the victims of the hack, Coin Desk reported. ”Coinbase has shown no willingness to return the funds despite knowingly benefitting directly from the exploit,” said Alchemix, which lost $22 million to the attack. We are so thankful to a whitehat MEV bot operator who returned 43.3 ETH made from arb profits following the @CurveFinance exploit of the $alETH / $ETH p...

CoinFLEX is among the crypto firms affected by the bearish conditions across the market. The crypto investment firm is looking into how it can reclaim $84 million worth of funds from the whale account.  CoinFLEX to arbitrate on $84M deficit The CoinFLEX arbitration process with the unnamed whale account is expected to happen in Hong Kong. The co-founders of the platform, Mark Lamb and Sudhu Arumugam, said that the process would grant access to the whale’s assets, adding that their legal team was confident that a solution would be met. The two executives said that the whale account had a legal obligation to make these payments but had failed to do so. The firm also added that the arbitration process could take a year to realize a judgment. The judgment is expected to give CoinFLEX access to the whale’s “ worldwide assets .” Buy Bitcoin Now Your capital is at risk. The company did not formally reveal the whale’s identity that had defaulte...

Huobi will also cooperate with the IEO plan. Surely, many interesting things will come from this cooperation. Company Overview Huobi Global was founded in 2013 in Beijing to provide a cryptocurrency trading platform for individuals in mainland China and beyond. The platform quickly rose to become one of the three big crypto exchanges in China, providing ample liquidity to Bitcoin traders. The changing regulatory landscape in China, however, forced Huobi to move its crypto trading services abroad in 2017. The company subsequently incorporated in Seychelles and set up a new headquarters in Singapore, with a focus on expanding to other Asian markets and the rest of the world. Huobi Global managed to successfully grow its userbase outside of China to become one of the most liquid crypto exchanges in the world. In 2019, however, a report by Bitwise Asset Management accused Huobi Global of  wash trading  to inflate its reported trading volume figures. While Huobi denied the accusations...

Popular crypto trading platform Bitfinex has unveiled its Ethereum (ETH) Chain Split Tokens (CSTs). Bitfinex operator, iFinex Financial Technologies Limited, confirmed this development in a statement. The Chain Split Tokens will pave the way for users to trade on the imminent Ethereum consensus protocol. According to the operator, it plans to make the CST tokens readily available in trading pairs on the derivative platforms. The CST tokens will be in two folds, ETHW (for PoW) and ETHS (for PoS). The CTO of Bitfiniex, Paolo Ardoino, reacted to the development. He said,  “the team is delighted to provide our users access to these new Ethereum Chain Split Tokens to help prepare for all eventualities as we approach the Ethereum Merge.”  Jag Kooner, the Product Manager at Bitfinex Derivatives, also commented on the CST unveiling. Kooner boasted that Bitfinex is trying to provide the best experiences to its customers. He added that the crypto trading platform w...