Press Releases TheBitTimes.com

Crypto Funds Record Outflows Amid Profit Booking in Bitcoin Crypto asset funds saw a total of $742 million of inflow in the last four weeks. The inflows brought year-to-date flows to a net positive despite nine weeks of outflows. Bitcoin recorded huge inflows amid spot Bitcoin ETF filings by BlackRock, Fidelity Investments, and other financial giants. advertisement However, $6.5 million in crypto asset outflows last week raised speculation of correction in the crypto market. Investors sold Bitcoin worth $13 million and switched to Ethereum, which saw $6.6 million inflows. Also, short Bitcoin investment products recorded the 13th consecutive week of outflows totaling $5.5 million. After Ethereum, XRP recorded the most inflows of $2.6 due to Ripple’s partial win against the US SEC. Other altcoins Solana, Uniswap, and Polygon (MATIC) saw inflows totaling $1.1 million, $0.7 million, and $0.7 million, respectively. Trading volumes decreased significa...

The Latest Shibarium Milestone According to data from PuppyScan, the analytics platform that records on-chain transactions on the Shibarium protocol, the L2 scaling solution has crossed the 31 million total transaction count. Specifically, since the PuppyNet testnet was launched, the protocol has processed a total of 31,820,330 transactions. advertisement This figure was further complemented by other impressive upticks including the total block generated, pegged at 1,810,079 since inception. The usage of the PuppyNet platform has been impressive since it was launched and at the time of writing, a total of 17,062,483 wallets have been created and working on the protocol at this time. The Shibarium protocol was created in order to help scale Ethereum. It is a protocol that was conceived and created by the Shiba Inu team in a bid to bring more value to all of its ecosystem members.  The Shibarium launch is well-hyped and there is growing anticipat...

Whale Alert reported that two whales transferred millions in DOGE to exchanges. A significant medium-term bullish technical flag was triggered on DOGE’s daily chart in the past 3 days. At press time, DOGE was worth $0.07229 after its price rose by 0.42% over the past 24 hours. The blockchain tracking and analytics platform, Whale Alert, shared on Twitter yesterday that two whales transferred Dogecoin (DOGE) worth millions to exchanges. According to the first post by the platform, one whale transferred 85,000.009 DOGE, worth approximately $6,177,001, from an unknown wallet to Binance yesterday. 85,000,009 #DOGE (6,177,001 USD) transferred from unknown wallet to #Binancehttps://t.co/iOr8PgBKfV — Whale Alert (@whale_alert) July 21, 2023 In addition, a second post from Whale Alert indicated that the other whale transferred 450,000,000 DOGE, valued at more than $32 million, from an unknown wallet to Robinhood. Traders should keep their eyes on the meme coin...

Sam Bankman-Fried attempted to publicly discredit government witness Caroline Ellison, who was once his business ally and a romantic partner, the DoJ argued. The United States Department of Justice (DoJ) filed a complaint against FTX founder Sam Bankman-Fried (SBF), accusing him of leaking the private papers of Caroline Ellison, who was once his business ally and romantic partner. In a new complaint filed on July 20, the DoJ accused Bankman-Fried of an attempt to interfere with a fair trial by publicly discrediting Ellison, who became a government witness in SBF’s case in late 2022. SBF sought to publicly discredit a government witness by sharing her personal writings with a reporter so that those private documents would be featured in an article published by The New York Times on July 20, U.S. Attorney Damian Williams argued in the complaint. In her diary , Ellison described feeling overwhelmed by her job at Alameda Research, alongside other things like the pain from her romantic...

Join Our Telegram channel to stay up to date on breaking news coverage Myanmar’s shadow government plans to launch a crypto bank and hopes it will help in its opposition to the ruling military junta. Spring Development Bank is scheduled for a soft launch on July 22 and is built on the Polygon blockchain, making domestic and international transactions smoother and providing easy access to various financial products globally. The bank derives its name from the movement led by the National Unity Government, the exiled opposition to the military junta’s State Administration Council. The bank aims to cater to 55 million residents within Myanmar and also some two million Burmese living outside the country. This global Burmese population frequently repatriates funds, establishing strong economic ties to their homeland. Crypto Bank is Revolutionary Tin Tun Naing, who is currently serving as the interim central bank governor and acting finance and industry minister, expr...

After purchasing $1.5 billion worth of Bitcoin in 2021, Tesla sold 75% of it in 2022 and is now hanging onto its remaining $184 million Bitcoin stash. For the fourth quarter in a row, Tesla hasn’t sold or added to its digital asset holdings with the electric vehicle manufacturer continuing to hold $184 million worth of its remaining Bitcoin (BTC). In Q2 2023 earnings released on July 19 the net value of Tesla’s Bitcoin holdings stood at $184 million which has held at the same value for the past two quarters. Tesla hasn’t bought or sold any Bitcoin since Q2 last year when it sold more than 30,000 Bitcoin — which accounted for roughly 75% of its total holdings — for $936 million. Tesla’s Bitcoin holdings totaled $184 million at the end of Q2. Source: Tesla Tesla first purchased $1.5 billion worth of Bitcoin in March 2021 with the company’s CEO Elon Musk promising to accept Bitcoin as payment for Tesla vehicles in the following days. Musk later halted Bitcoin payments for Tesla vehicl...

XRP made notable strides in the crypto market, leading to substantial gains. Within the last 24 hours, open interest on futures contracts linked to XRP exceeded $1.1 billion. This achievement marked another milestone, surpassing the $1 billion mark set the previous week and establishing a new record high for the year. Open interest is the number of unsettled futures contracts. This has experienced a 21% increase since earlier this week. Among these positions, the largest share of about $459 million is held on the crypto exchange Binance. Bybit was next in line at $304 million and Bitget followed suit with $263 million. Source A higher open interest indicates a surge in investments or bets on various assets. This signifies the influx of new funds into the financial market. Typically, this suggested an expectation for the current trend to persist. In parallel, the price of XRP experienced an astonishing surge of 67.42% in the past few days. At press time, the altcoin was trad...

Lookonchain observed a whale withdraw 4 million ARB tokens from Binance today. ARB experienced a double-digit surge of 15.20% over the week. The altcoin needs to break through three minor resistance levels for a confirmed bull run. The popular web3 data analytics platform, Lookonchain observed a whale withdraw 4 million ARB tokens from Binance today. Yesterday, Lookonchain also reported that three whales withdrew a total of 3.76 million ARB from Binance. These exchanges-to-wallet transactions by whales could increase ARB’s price as the supply continues to reduce. Moreover, whale movements are often observed by various traders and could change the psychological behaviors of the market. Another whale withdrew 4M $ARB ($5.28M) from #Binance 7 hrs ago.https://t.co/JdMzHzqbhzhttps://t.co/49LEA8bhim pic.twitter.com/uRMI6dMP6e — Lookonchain (@lookonchain) July 18, 2023 Currently, Arbitrum (ARB) is trading at $1.29 after a fall of 0.75% in just one day. Ho...

US Senator Elizabeth Warren accused Tesla board members of misappropriating assets and conflicts of interest. Warren urged the SEC to investigate the possible ties between Tesla and Musk’s takeover of Twitter. Though Musk has been influential in the crypto space after purchasing Twitter, as per Warren’s letter, his actions have created uncertainty within the community. United States Senator Elizabeth Warren has recently requested the Securities and Exchange Commission (SEC) to probe into the possible ties between Elon Musk’s Tesla and his takeover of the social media platform Twitter. She questioned the Tesla board’s compliance with the US regulators pointing out its lethargy to address the investors’ concerns. Earlier today, a crypto analytics platform, took to Twitter to share a screenshot of Warren’s letter to the regulators, pointing out the allegations against Tesla’s board members. As per the tweet, the Senator has alleged Tesla’s board of “misappropria...

Bitgert’s native token BRISE experienced a remarkable 30% surge. The blockchain network expects a multi-billion dollar market cap for BRISE soon. BNB, ADA, and SOL suffered losses of over 2.5%, while BRISE maintained positive growth. Bitgert, the well-known cryptocurrency platform, has had an eventful week with its native token BRISE soaring towards an impressive 30% positivity, taking the crypto community by surprise. In a recent weekly report, the firm announced the development, also noting that while Bitcoin (BTC) was enjoying the spotlight, it struggled to break through the psychological barrier of $32,000, resulting in sideways price movement. ️ #BRISE Weekly report – 16 July 2023 Read more: https://t.co/YyFBqXYUTe pic.twitter.com/uf6pWMkpwv — Bitgert – $BRISE (@bitgertbrise) July 16, 2023 Meanwhile, the week’s highlight was the exceptional performance of Bitgert’s native token, BRISE. It experienced a remarka...

Coinbase CEO Brian Armstrong recently called out Bank of America for closing the bank accounts of the exchange’s customers. Armstrong demanded an explanation from the banking giant after his customers complained about the issue.  The CEO told his followers that he would reach out to Bank of America regarding the ongoing issue. Brian Armstrong, the man behind the largest crypto exchange in the United States, has called out banking giant Bank of America, for allegedly shutting down the bank accounts of some of Coinbase’s customers. The issue first came to light when crypto entrepreneur Muneeb Ali highlighted the issue on Twitter.  Ali took to Twitter earlier this week to inform the crypto community about Bank of America’s decision to close his bank account. He stated that while the bank gave no reason for the account closure, he suspected that it was due to the Coinbase transactions he had made using the account. Ali warned that the bank’s move was a “war o...

The $29 million TVL lending platform is shutting down because its oracles are misreporting Multichain token values after the exploit. Lending protocol Geist Finance is shutting down permanently due to losses from the Multichain exploit, according to a July 14 social media post from the app’s development team. Geist contracts were been paused on July 6, then resumed in “withdraw and repay only” mode on July 9. The latest post confirms the team does not plan to reopen lending and borrowing on Geist. 1/2 After confirmation from Multichain that the funds will not be recovered, we are announcing that Geist will not reopen. Because Chainlink oracles are tracking the value of real USDC, USDT, WBTC or ETH, they are not aware of the real value of Multichain assets. — Geist Finance (@GeistFinance) July 14, 2023 Geist is a lending protocol running on the Fantom network. It had over $29 million worth of crypto assets locked in its contracts before the Multichain hack. Before the hack, Gei...

2022 proved to be a challenging period for the crypto industry. The entire market suffered under the reigns of the bear. Despite the market’s credible recovery this year, the bears had remained dominant in the market. However, the series of events that have transpired over the last couple of months, and especially this week, has got many believing that the bear market might be coming to an end. Here are reasons why bears have exited the crypto market XRP’s Win For a considerable period, Ripple diligently engaged in a legal dispute with the Securities and Exchange Commission [SEC]. The regulatory classification of XRP as a cryptocurrency was questioned and efforts were made to categorize it as a security. However, a significant shift occurred when Judge Analisa Torres ruled that XRP does not qualify as a security. This victory weakens the SEC’s ability to label all tokens as securities. This is because they were unable to succeed with the one that appeared most...

The U.S. SEC filed a lawsuit against the bankrupt crypto lender on July 13 followed by news reports about the arrest of the former CEO Alex Mashinsky. The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrest ed on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day. The former CEO was reportedly arrest ed after a probe into the company’s collapse, reported Bloomberg citing people familiar with the matter. Mashinsky was reportedly charged with fraud and intention to manipulate the market. Celsius Network filed for bankruptcy on July 14 last year. Mashinsky was recently found guilty by investigators of the Commodity Futures Trading Commission, which concluded that the former CEO broke numerous U.S. regulations before the company’s implosion in 2022. The investigation against the former CEO began after New York Attorney General sued Mashin...

In the latest development, Coinbase ’s chief executive officer (CEO) Brian Armstrong has started a Twitter poll on whether Bank of America is closing accounts that transact with the exchange. The Coinbase  chief posed the question late Wednesday, July 12, while tagging Bank of America, adding that he was “curious if this is the issue”. advertisement Has @BankofAmerica closed your account due to transactions with @ Coinbase ? Curious if this is the issue. — Brian Armstrong 🛡️ (@brian_armstrong) July 13, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read ...