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New York's Department of Financial Services has issued a consumer alert warning against "sentiment-based virtual currencies," known as meme coins, highlighting their extreme volatility, lack of regulation and high risk of fraud, including "chive-cutting" schemes that suddenly drive up shipments. The department warned that these tokens are often...
On December 2nd, 10x Research pointed out in a report released recently that bitcoin balances on cryptocurrency exchanges have reached an all-time low, and on-chain data shows a sharp decline in the number of bitcoins available for purchase. The report said that this was in sharp contrast to the trend in late summer, when sudden inflows temporarily replenished exchange reserves.
An October 26 report from analysts at crypto analytics firm CryptoQuant noted that while bitcoin retail investors are "slowly returning" to the market, they are significantly lagging behind large bitcoin investors throughout 2024.
According to a memo obtained by Bloomberg, Musk lost a legal battle over unpaid severance pay to a former Twitter employee who was fired when Musk took over the social media platform in 2022. Two years ago, Musk bought Twitter for $44 billion and quickly laid off more than half of its employees. The move triggered complaints from more than 2,000 former employees who claimed they did not receive enough severance pay. Friday's lawsuit victory...
FTX and its affiliated debtors said in a notice that its revised reorganization plan, filed with the Bankruptcy Court of the U.S. District Court for the District of Delaware, received majority support from all classes of creditors eligible to vote, including FTX US and FTX Dotcom's customer classes. Citing unofficial voting reports, FTX said more than 95 percent of creditors who had submitted votes were in favor of the plan. That represented 99 percent of the value of the claims that had been vo...
Alex Kuptsikevich, senior market analyst at FxPro, said in a report on Thursday that the upcoming easing of monetary policy by the Federal Reserve could encourage BTC bulls to overcome the short-term downtrend, or could help bitcoin reach $66,000. However, the report also noted that the new selling momentum remains mainstream and could fall back to $55,000.
On August 13, according to an internal memo seen by Bloomberg, Shobhit Maini, global head of digital assets at Citigroup's markets division, has left to pursue other opportunities in the crypto industry. Maini has been with Citigroup for more than 14 years and most recently served as head of the digital assets team under Citi's markets division, according to a LinkedIn profile. According to a memo released last week by Lee Smallwood, head of markets, innovation and investments at Citi, Maini lef...
A new report from Kaiko shows that Ethereum could outperform Bitcoin following the highly anticipated launch of the Ethereum exchange-traded fund (ETF) in the United States. The report notes that the current price ratio of Ethereum to Bitcoin is 0.05, higher than the 0.045 before the Securities and Exchange Commission (SEC) approved the spot Ethereum ETF, indicating that the price of Ethereum is rising relative to Bitcoin. The report also emphasizes that 1% of Ethereum...
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