Crypto

The cryptocurrency market contends with FTX’s impact and Bitcoin’s resurgence, as prices and trading volumes remain below 2021 highs. Sam Bankman-Fried, the former FTX CEO, faces seven fraud and conspiracy charges in New York. Bitcoin, after plummeting in 2022 due to FTX’s troubles and other factors, has rebounded by around 37%. The crypto market’s total value peaked at $3 trillion in November 2021 but dropped to $796 billion in 2022. While Bitcoin has regained some stability, VC investments have declined, and trading volumes have decreased significantly.

The recent reductions at Chainalysis, including a prior 5% workforce reduction in February, mirror a widespread pattern of layoffs within the industry

Hong Kong could be offering a safe haven for cryptocurrency investors from conflict-ridden countries and Chinese citizens seeking to bypass crypto restrictions.

A co-founder mentioned that more than 1.2% of the token’s supply was permanently removed.

On Tuesday, during the afternoon hours in Asia, BTC was trading slightly above $27,600, while Ether experienced a 3.5% drop on the disappointing debut of ETH futures ETF trading in the United States.

In the crypto market, stability prevails amid decreased trading activity, while analysts suggest that long-term growth may rely on challenges in the banking sector or financial instability in governments, with recent bond market movements hinting at this potential.

On their second attempt, Ethereum developers successfully launched the Holesky test network, a crucial step for testing ambitious scaling plans for the main Ethereum blockchain and preparing for the upcoming Dencun hard fork.

JPMorgan’s Chase & Co.’s digital banking service in the UK is taking steps to protect its customers from cryptocurrency-related fraud and scams. Starting from October 16, Chase UK customers will no longer have the option to make cryptocurrency transactions using their debit cards or by initiating outgoing bank transfers.   An email sent to customers … Read more

MicroStrategy Inc., a data intelligence firm led by Michael Saylor, has long been renowned for its significant holdings of Bitcoin (BTC). However, recent data has brought an intriguing revelation to light: the company might have potentially garnered greater profits had it invested in Ethereum (ETH) instead.   Information sourced from blockchaincenter.net, an analytics platform, indicates … Read more

“A blockchain platform called Fhenix was able to raise $7 million in venture capital funding. The seed funding round was led by Multicoin Capital and Collider Ventures, with participation from several other investors including Node Capital, Bankless, HackVC, TaneLabs, and Metaplanet.   The newly acquired capital will be used to launch the public testnet of … Read more