December 13, 2023

Coinbase Unveils Project Diamond for Institutional Asset Management

Coinbase and Coinbase Asset Management have introduced “Project Diamond,” a platform powered by smart contracts. This new system aims to enable institutions by facilitating the seamless creation, administration, purchase, and sale of various digitally native assets directly on the blockchain. “Project Diamond” According to the official announcement, Coinbase Asset Management has specified that the initial...
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Fair Value Accounting For Crypto To Begin In 2024, Confirms FASB

The Financial Accounting Services Board (FASB) announced on Wednesday that it has officially adopted fair value accounting for crypto assets starting next year. The change is expected to make Bitcoin and other digital currencies far more welcoming to hold on corporate balance sheets, despite their intermittent price volatility. FASB’s Major Accounting Change Per FASB’s latest...
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Is Tether Becoming America’s Defacto CBDC? Crypto Experts Weigh In

Crypto industry experts have been discussing Tether and its potential to become the dollar-pegged defacto central bank digital currency of the world. The comments come in response to Cantor Fitzgerald CEO Howard Lutnick, who told CNBC earlier this week: “I’m a big fan of this stablecoin called Tether…I hold their treasuries. So I keep their...
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Here’s How Much Coinbase Shares (COIN) Ark Invest Has Sold in The Past Week

Since the beginning of the month, leading asset management firm Ark Invest has been on a selling spree for the stock of the largest American cryptocurrency exchange, Coinbase (COIN). Barely two weeks into December, the investment manager has sold more than $119 million worth of COIN. While Ark has been offloading the shares at several...
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BTC Hits Near-Term Exhaustion After Strong Rally as Short-Term Holder Profit-Taking Intensifies

After a powerful rally, Bitcoin appears to have hit a degree of near-term exhaustion. The uptrend encountered resistance this week, breaking to a new yearly peak of $44.5k before sustaining the third sharpest selling-off of 2023. On-chain data suggest that short-term holders (STH) are to blame for pausing the climb. Bitcoin Short-Term Holders Capitalize on...
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Shiba Inu’s Netflow Surges As Its Price Recovers! Here’s The Next Level For SHIB Price

Bitcoin price has recently cleared the $41K level after a steep decline following cooling inflation reports. As the Producer Price Index (PPI) for November reported figures lower than anticipated and the Consumer Price Index (CPI) showed a decline, the crypto market experienced a minor buying demand. As a result, meme coins like Shiba Inu’s surge...
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Coinbase Expands Global Presence, Offering Spot Crypto Trading Beyond US

Coinbase Global Inc. is expanding its services by introducing spot crypto trading on its international exchange as part of a global expansion strategy to cater to users with reservations about U.S.-based platforms. Although Coinbase’s stock has experienced substantial growth this year, currently valued at approximately $140 per share, it is still a long way from...
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COTI to Launch Privacy-Centric Ethereum Layer-2 Network

Web3 digital infrastructure provider COTI announced plans to launch a layer-2 chain on the Ethereum network that will be focused on adding a privacy layer to its products and services. According to a statement seen by CryptoPotato, the new protocol, COTI V2, will use a cryptographic technology called Garbled Circuits to enhance privacy while ensuring...
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Binance BRC-20 Listing Boosts Bitcoin Ordinals Market: Trading Vol Breaks New Record

The Bitcoin Ordinals market witnessed a remarkable surge in trading activity, with the volume surpassing $36 million on December 12 and subsequently establishing a new record. The excitement surrounding SATS increased following the official announcement from Binance regarding the inclusion of BRC-20 Sats (1000SATS). The spot trading pairs for 1000SATS were made accessible earlier this...
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3AC Co-Founder Zhu Set to Be Released Following Questioning in Singapore

Su Zhu, the co-founder of Three Arrows Capital, is expected to be released this month based on standard provisions for good behavior. The development follows a two-day court hearing in Singapore where Zhu faced questioning for the first time. During the hearing, Zhu had to respond to lawyers representing the liquidator, providing insights into how...
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Binance Disputes SEC’s Use of DOJ and FinCEN Settlement in Ongoing Legal Battle

In the ongoing legal dispute between Binance Holdings and the U.S. Securities and Exchange Commission (SEC), the former has filed a new submission to the U.S. District Court for the District of Columbia. Binance, along with its former CEO Changpeng Zhao (CZ), asserts that the SEC’s reliance on its prior settlement with the U.S. Department...
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HBAR Price Stagnant Despite Double Bottom Breakout!

With a bullish recovery in motion, the HBAR price takes a second attempt to break above the $0.075 mark. This attempt leads to a bullish pattern in the daily chart and increases the likelihood of a trend continuation. However, the market conditions lead to a short-term red ocean phase for altcoins.  With the pullback in...
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Aptos (APT) Token Defies Gravity: Hits June-Level Highs Despite Recent Token Unlock

Aptos, a blockchain project in Layer 1, initiated the release of 24.8 million tokens on December 12, equivalent to 8.9% of its current circulating supply. Token unlockings are generally viewed as bearish events as they increase the asset’s supply by releasing coins from a vesting period, including to early investors. The native token, APT, appears...
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OKX Dex Hacked Via Compromised Proxy Wallets

OKX, a popular decentralized exchange aiming to reduce cross-chain friction, was hacked earlier today by an unknown bad actor. Whereas recent attacks on exchanges have generally focused on compromising and manipulating smart contracts, this one seems to have been carried out by stealing the credentials needed to access the exchange’s wallets, where funds were held...
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SBF’s Lawyer Reveals FTX Trial Defense Struggles and Frustrations

The legal defense head, David Mills, representing Sam Bankman-Fried in the FTX fraud trial, has openly expressed frustration and disappointment, labeling SBF as the most challenging witness he has encountered. Mills has acknowledged that the odds of winning the trial were stacked against the former CEO, implying that the legal challenges and complexities surrounding the...
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Coming Soon: WOOUSDT Perpetual Swap Listing with Up to 10x Leverage 

A new listing featuring – WOO – the token of WOO Network will be available to trade on BitMEX, and with up to 10x leverage from tomorrow. For the lowdown on the latest listing, read on. If you haven’t signed up for a BitMEX account yet, we’re currently offering up to $5,000 in BMEX Tokens...
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Bitcoin (BTC) $ 67,878.19 0.83%
Ethereum (ETH) $ 2,427.21 0.96%
Tether (USDT) $ 0.999816 0.02%
BNB (BNB) $ 555.30 0.02%
Solana (SOL) $ 161.62 0.20%
USDC (USDC) $ 1.00 0.07%
XRP (XRP) $ 0.509763 1.93%
Lido Staked Ether (STETH) $ 2,426.94 0.97%
Dogecoin (DOGE) $ 0.158567 7.71%
TRON (TRX) $ 0.163879 0.26%