Press Releases TheBitTimes.com

Source: Adobe/Christophe Fouquin Su Zhu and Kyle Davies, the two founders of now-bankrupt crypto hedge fund Three Arrows Capital, has launched a new platform for trading in crypto-related bankruptcy claims. Writing on Twitter on Thursday, former Three Arrows Capital (3AC) CEO Su Zhu announced that the new trading platform, named Open Exchange, has already opened its waitlist for interested users who want to put their claims up for sale. According to the tweet from Open Exchange that was shared by Zhu, the new platform will become the world’s first marketplace for such trading. The tweet added that the goal after the claims marketplace is up and running will be for it to also become “the world's most radically transparent [centralized exchange].” “We were not perfect” In his Twitter thread, Su Zhu took the opportunity to reflect on the past few months. He called it “a dark period,” and added “we were not perfect in how w...

The Federal Bureau of Investigation (FBI) has blamed a cyber-attack group backed by the government of North Korea for its role in a $100m crypto heist reported on 24 June 2022. The funds mainly in Ethereum (ETH) were stolen from Harmony's Horizon bridge. Lazarus Group, also referred to as APT28 orchestrated the $100 million hack attack on the Horizon bridge, which allows users on Harmony to transfer value from one blockchain to another. The FBI said, “on Friday, 13 January 2023, North Korean cyber actors used RAILGUN, a privacy protocol, to launder over $60 million worth of ETH stolen during the June 2022 heist.” Some of the stolen funds have been transferred to other crypto platforms and subsequently swapped for Bitcoin (BTC). The agency while working with several crypto platforms, has frozen an undisclosed amount of digital assets, with 11 crypto wallets containing the other $40m made public. The FBI is committed to working with relevant stakeholders ...

Source: TradingView The dogecoin price has now rallied by 9% in the past seven days, pushed up by reports that Twitter is moving ahead with its plans to introduce payments. At $0.091703, it has dipped by 1% in the past 24 hours, although it rose by well over 10% between Monday and Tuesday, with the coin also up by 30% in the last 30 days. DOGE's rally follows Monday's publication of an article in the Financial Times , in which the paper reported that Twitter owner Elon Musk has begun accelerating the social network's payment plans. This has resulted in a big surge of buying activity, including by whales, yet the fact remains that recent reports on Twitter's payment strategy have made no explicit mention of dogecoin itself. Dogecoin Price Prediction as DOGE Rallies Up 9% in 24 Hours – Here's Where DOGE is Headed in 2023 DOGE's indicators suggest that the altcoin likely still has some rallying left to do. Its 30-day moving average (red) overtoo...

Carrano price bulls have slowed down an aggressive four-week push that saw the token’s value grow by 45.5% in 30 days. The eighth-largest cryptocurrency, boasting $13.2 billion in market capitalization, holds slightly in the green backed by a 0.9% increase in 24 hours. The 50% pump from the bottom saw ADA price reach highs of $0.39 but has since retraced to trade at $0.379 at the time of writing. ADA’s Bullish News Roundup as Cardano Price Gazes Toward $10 Cardano’s use cases as a smart contract platform have attracted the attention of the United Nations High Commissioner for Refugees (UNHCR), which hopes to tap the crypto platform as an alternate approach to supporting unfairly displaced people. Through this platform, the humanitarian organization will innovatively raise funds. With this development, UNHCR will for the first-time use blockchain technology to link other humanitarian communities to achieve a positive impact. “Adopting the Carda...

It's been an explosive month for SOL, the cryptocurrency that powers Solana’s high-performance layer-1 blockchain protocol. The cryptocurrency was last trading higher by about 145% on the month in the mid-$24.00s and is up an even more impressive more than 200% versus its end of December 2022 lows under $8.0 per token. December was a dire month for Solana’s price as investors continued to dump the token on concerns that the collapse of potentially fraudulent cryptocurrency exchange FTX in November, a big supporter of the Solana ecosystem, would result in the “death” of the ecosystem and cryptocurrency. But Solana has a decentralized ecosystem of supports and applications that, while struggling in wake of the collapse of FTX and withdrawal of all the liquidity it used to provide, continued to express support for the Solana project. Various metrics, as discussed in this recent article, suggested that activity within the Solana ecosystem remains ...

Bitcoin is one of the most popular cryptocurrencies in the world. Its price has been on a roller coaster ride over the past few months, with its 24-hour trading volume recently blasting past $30 billion. This has led to speculation that Bitcoin could be headed for the moon.  Let's take a look at all the fundamentals that are driving the price action of the BTC/USD pair. Blockstream Raises $125M for Bitcoin Mining Blockstream, a provider of digital asset infrastructure, has raised $125 million to fund its Bitcoin mining co-location services, demonstrating the rise in demand for institutional hosting during the bear market.  Blockstream announced on January 24 that the financing was backed by a convertible note and a secured loan. Furthermore, the funds will be used to expand the firm's bitcoin mining operations. Bitcoin users are financially rewarded for securing the network through mining.  Miners use special, energy-intensive technology to create Bitc...

Image Source: Twitter / @BrettHarrison88 Brett Harrison, former president of FTX US, has managed to raise funds from major crypto investors such as Coinbase Ventures and Circle Ventures after publicly blasting FTX founder Sam Bankman-Fried.  According to a Friday report by Bloomberg, Harrison has raised $5 million for his new crypto software startup from Coinbase and Circle. The move comes just days after the crypto boss complained association with FTX has hindered his ability to raise funds.  Called Architect, the venture aims to build trading software to make centralized and decentralized crypto markets easier to use for large investors like institutions. Harrison has said he hopes Architect “will allow people to get their confidence back in trading in this industry.” The crypto software startup is projected to launch in the second quarter. Harrison said he hopes Architect will be eventually incorporated into Coinbase Global and Circ...

Source: 9dreamstudio/Adobe South Korean prosecutors are continuing to wage war against illegal kimchi premium traders – and will seek to convict 20 people for allegedly conducting $3.2 billion worth of illegal crypto transactions. The kimchi premium is a phenomenon whereby increased trading volumes on South Korean crypto exchanges drive prices above the global average. Some South Korean traders have attempted to exploit this by buying tokens like bitcoin (BTC) from overseas over-the-counter vendors via wire transfers. They then dump the coins on domestic crypto exchanges for a hefty profit. During recent bull runs years, domestic retail investors’ trading volumes have tended to rocket upwards extremely rapidly. In some cases, this has led to sudden discrepancies of up to 50% between domestic prices and overseas averages.   Current kimchi premium levels stand at under 1%. (Source: Cryprice.com) But prosecutors have grown wise to this tactic – an...

Image Source: FTX JP The Japanese subsidiary of cryptocurrency exchange FTX is expected to resume withdrawals starting in February, according to a Japanese senior official. Mamoru Yanase, deputy director-general of the Financial Services Agency’s Strategy Development and Management Bureau, has said FTX Japan will repay funds to customers starting next month. The statement comes after a Delaware bankruptcy Judge allowed FTX to sell four business units, including its Japanese subsidiary.  “We have been in close communication with FTX Japan,” Yanase reportedly said, adding that they expect they "will properly take steps based" on a mid-February timeline for withdrawals announced last month by the firm. If the plan goes through successfully, it would be a rare example of investors getting a portion of their funds back following the bankruptcy. In contrast, users of Mt. Gox, once the world's biggest bitcoin exchange, which filed for bankruptcy ...

Dogecoin and Shiba Inu prices have been on a rollercoaster ride lately, with prices skyrocketing in a matter of days. This is an indication that meme coins are back in the limelight and investors are taking notice. The recent pump in Dogecoin and Shiba Inu prices signals that meme coins are gaining traction once again.  These coins offer investors the chance to capitalize on their favorite memes and trends, providing an alternative to traditional investments. With more people becoming familiar with cryptocurrencies, meme coins have become increasingly popular as they offer a way to make money while having fun at the same time. The recent surge in Dogecoin and Shiba Inu prices shows that investors are excited about these new opportunities, indicating that meme coins may be here to stay for the long haul. DOGE Is Back! The Best-Purchased Cryptocurrency Of 2021 Returns With A Bang According to WhaleStats, the leading wallet tracker for cryptocurrencies, significant...

Source: Rémi Cormier (CC BY-SA 3.0) The CEO of a bogus South Korean crypto exchange that tricked some 50,000 customers out of a total of $2.3 billion will spend the next 25 years behind bars – after the Supreme Court found him guilty of fraud. Yonhap reported that the Supreme Court dismissed an appeal from the CEO of the V Global exchange, surnamed Lee, and upheld the high court’s guilty verdict. Although the “exchange” had been designed to look every bit like a bona fide trading platform – replete with a website that featured real-time coin tickers – the court learned that it was anything but. Lee masterminded V Global. But the court heard that he had previously used crypto-themed multi-level marketing tactics to dupe investors at another, now-defunct exchange. The V Global exchange used a “tiered membership system.” It promised members payouts in the platform’s own tokens for recruiting new members. These...

Source: AdobeStock / Olivier Le Moal Abu Dhabi-based blockchain platform Venom Foundation and investment manager Iceberg Capital revealed a $1 billion venture fund focused on blockchain and Web3 companies.  The news was shared on Twitter by the foundation on Wednesday.  Its website states that the Venture Capital Fund backs early-stage Web3 decentralized applications (dapps) and protocols, and that it is prioritizing those focused on long-term trends. These trends include payments, asset management and banking services, as well as GameFi, it said. It added that investments are not strictly reserved for Venom blockchain projects - anyone who uses a layer 1 (L1) as their primary blockchain and who has "achieved strong traction" is qualified and "we might well lead your next investment round," said Venom Foundation. It added that,  "Our incubator allocates capital to early-stage projects that show promise of bringing mass-adoption and priorit...

Source: Adobe/sdx15 Indian crypto exchange WazirX has released its Proof of Reserves (PoR), sharing wallet addresses and digital asset holdings. Notably, Shiba Inu accounts for the largest proportion of assets on the exchange as over 19% of its holdings are in the form of the meme coin. In a Wednesday blog post, WazirX said it has released its PoR audit in a bid to "promote full transparency in India’s crypto ecosystem." The exchange used Coin Gabbar, a third-party crypto asset tracking platform, to display its proof of reserves. A breakdown of the exchange's reserves by Coin Gabbar shows over 19% of WazirX's crypto holdings are in Shiba Inu. The platform has around 6.09 trillion SHIB tokens, worth over $54 million at the rate of $0.0000089. SHIB is currently trading at $0.0000088, down by 4% over the past day.  Bitcoin, Ethereum, and DogeCoin are the next three biggest holdings of WazirX, each accounting for 8.32%, 9.36%, and 8.17%, re...

Source: AdobeStock / Diego US authorities have sent subpoenas to American hedge funds and market-making companies dealing with Binance, the world’s largest cryptocurrency exchange, asking for records of their communications with the exchange.  According to a Saturday report from the Washington Post, the U.S. attorney’s office for the Western District of Washington in Seattle has sent subpoenas to investment firms tied to Binance, asking them to share records of their communications with the platform.  Legal experts have allegedly said the subpoenas do not necessarily mean authorities are likely to bring charges against the exchange. “Prosecutors are still discussing a possible settlement with Binance and weighing whether they have enough evidence to bring indictments against the company,” the Post said.  The subpoenas are part of a larger investigation into the potential violations of money-laundering laws by the world...

Adobe Stock / May_Chanikran In 2022, the cryptocurrency market underwent a massive transformation with leading companies like FTX and Luna collapsing. This new reality has sparked numerous debates about transparency and control in this rapidly expanding industry. How will nations across the globe regulate these currencies? What processes can be put into place to ensure user safety? These questions remain unanswered as we look ahead into 2023. It's undeniable that cryptocurrencies are here to stay despite market fluctuations. With DeFi, NFTs, play-to-earn (P2E), and smart contract applications rising in popularity, many cryptocurrencies will still be excellent investments for 2023. To guarantee success investors need to seek out projects that adhere to regulations and offer real use cases, however. In short, this technology will remain with us for the long haul, so dips in the market like the current bear trend provide an excellent opportunity for shrewd investor...