Analysts for the world’s largest bank expect Ethereum (ETH) to outperform Bitcoin (BTC) next year amid a critical network upgrade for the former, and a wildly disappointing ETF launch for the latter. In a report published Wednesday, JPMorgan argued that Ethereum’s upcoming “Protodanksharding” (EIP-4844) upgrade will help bolster network activity after a lull period during...Read More
Gemini, the Winklevoss Twins crypto platform offering an exchange, custodian services, and – in partnership with Genesis – Earn services, has been in a bit of trouble ever since the latter filed for bankruptcy last January. Possible Recovery Plan Waiting For Court Approval Genesis, whose legal troubles stemmed partly from a loan to its parent...Read More
Bitwise Asset Management has joined the list of companies aiming for a spot Bitcoin (BTC) Exchange Traded Fund (ETF) approval in the United States. The firm’s ETF has been officially listed on the Depository Trust and Clearing Corporation (DTCC) under the ticker BITB, signaling a growing optimism within the sector. Bitwise Optimistic Following Listing Bitwise’s...Read More
Chainlink has announced that its price feeds are now live on the zero-knowledge (ZK) scaling solution, Polygon zkEVM. The latest development essentially aims to allow developers to build advanced DeFi applications. Chainlink Data Feeds’s functionality allows DeFi developers to tap external price data to develop and launch highly effective liquidity protocols and advanced decentralized exchanges,...Read More
Ava Labs’ Core app has announced going seedless to boost Web3 adoption without compromising self-custody and security. The team behind Avalanche blockchain said that it has enabled users to generate and manage keys through simple Web2 methods like Gmail and Apple logins, making it more accessible. The key feature is Core’s Seed Abstraction, which is...Read More
Cryptocurrency experts, including popular on-chain investigator ZachXBT, took notice of an ongoing vulnerability associated with various Web3 interactions. It turns out that the problem had to do with the library of Ledger – the popular hardware wallet provider. In an official tweet, the company confirmed the vulnerability: We have identified and removed a malicious version...Read More
The US Securities and Exchange Commission (SEC) has extended its decision on whether to approve or disapprove a spot Ethereum exchange-traded fund (ETF) application by investment management company Invesco and crypto financial services firm Galaxy Digital. The SEC gave a 45-day extension, allowing itself until February 6, 2024, to make its decision on the product....Read More
On Dec. 13, Bitwise Invest research analyst Ryan Rasmussen predicted that Bitcoin will hit an all-time high of $80,000 in 2024. He did not specify a month or quarter but said that two major catalysts will help get us there. These are the anticipated launch of a spot Bitcoin ETF in early 2024 and the...Read More
VanEck Associates, the mutual fund and ETF manager with over $76 billion in assets under management (AUM), has a bold Bitcoin price prediction for 2024. The fund’s digital assets division expects a Donald Trump reelection victory next year to coincide with a new all-time high price for BTC. VanEck Analysts 2024 Bitcoin Price Prediction A...Read More
With the United States struggling to bring about regulatory clarity for the crypto space, the ongoing discord between two pivotal watchdogs sparks concerns about potential implications. The head of the Commodities Futures Trading Commission (CFTC), Rostin Behnam, has once again indicated that most crypto assets are considered commodities according to existing laws. He also acknowledged...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
Circle recently reported that the global settlement volume of stablecoins reached $7 trillion last year, nearly half the $14 trillion settled by financial powerhouses Visa and Mastercard. This marks a shift towards digital currencies, especially in Latin America, where they have become part of everyday transactions. Stablecoins Spearhead Financial Revolution in LATAM The rise of...Read More
Coinbase has announced the listing of SEAM, the governance token of Seamless Protocol, a decentralized lending and borrowing platform on Base layer 2 blockchain. This listing marks a significant milestone as SEAM becomes the first Base Layer 2 token featured on Coinbase. SEAM Token Lists on Coinbase In conjunction with the Coinbase listing, Seamless Protocol...Read More
Bitcoin (BTC)’s appeal among investors is rising as both a store of value and a hedge against “the world going to hell,” according to Circle CEO Jeremy Allaire. During an interview with CNBC on Tuesday, the crypto exec outlined three catalysts that he believes are behind crypto’s latest rally – all of which are irrespective...Read More
A recent move was the introduction of the Digital Asset Anti-Money Laundering Act, another bill aiming to curtail the use of cryptocurrencies in America. On Dec. 11. the bill gained five new Senators as cosponsors, including, unsurprisingly, three members of the Banking Committee. Crypto advocate Evan Van Ness posted a list of Senators he claimed...Read More
Major crypto exchange KuCoin has reportedly settled with New York authorities to stop offering its services in the local market, along with a payment of $22 million. The settlement deal comes months after the New York Attorney General (NYAG) sued KuCoin for selling unregistered securities to users in the state. KuCoin Leaves New York According...Read More
The supply of bitcoin (BTC) on centralized crypto exchanges has fallen to its lowest level in six years, indicating a decline in selling intent. According to the latest edition of the Bitfinex Alpha report, exchange-held BTC has reached its 45th consecutive month of diminishing supply. The development came when BTC hit a significant resistance level...Read More
Avalanche has been on a tear lately. The native token of the Layer 1 network – AVAX – stood out as one of the major crypto assets resilient to the recent drawdown in the market. It has recorded a remarkable weekly gain of over 82%, in stark contrast to the declining performance of its peers....Read More
