Category: Cryptocurrency News

Despite an array of uncertainties that have dotted the crypto horizon, recent data from Coinshares reveals a continuous faith in the sector, especially the foremost crypto giant, Bitcoin. Digital asset investment products have seen a steady and positive trend, recording net inflows for three weeks. Amid these inflows, Bitcoin emerges as the most dominant, presenting a robust case for its standing in the market. Related Reading: Will October Be Bitcoin’s Golden Month Again? A Dive Into A Decade Of Bullish Trends Bitcoin Steers The Inflow Wave According to the latest report by CoinShares, Bitcoin-centric products experienced inflows amounting to $16 million just in the past week. This surge has swelled the year-to-date inflows, positioning them at $260 million. CoinShares’ data also shed light on inflows into Short-Bitcoin funds, which amounted to $1.7 million. However, the report reveals that the recent data might not reflect the aftermath of the SEC’s decision not to appeal against the Grayscale legal challenge. James Butterfill, the Head of Research at CoinShares, noted: It is worth noting that our data, which is as of Friday’s close, was unlikely to capture the positive news out of the US regarding the SEC not appealing the Grayscale legal challenge, potentially paving the way for a spot-based ETF in the US. While Bitcoin held its ground, other cryptocurrencies also showcased noteworthy movements. Solana’s investment products added roughly $3.7 million, building upon the $24 million from the previous week. XRP maintained momentum, recording its 25th week of positive inflows with an additional $420,000. Butterfill highlighted the continuous support from the “investment community” for XRP, especially in light of the recent “successful legal challenges” against the US Securities and Exchange Commission (SEC). However, it wasn’t all sunshine and roses. Ethereum funds witnessed a setback, with outflows of $7.4 million. This seemed to neutralize most inflows after the launch of six Ethereum futures exchange-traded funds (ETFs) the previous week. Butterfill pointed towards potential “protocol design concerns” as a plausible reason. Other digital assets such as Litecoin, Chainlink, and Tezos also witnessed minor outflows of $280,000, $310,000, and $250,000, respectively. Global Inflow Dynamics Regarding the global distribution of these inflows, Germany stood out, accounting for the bulk of the week’s inflows with $16.1 million. The US and Canada followed suit, with inflows of $2.1 million and $3.5 million respectively. Interestingly, Sweden was the only European nation to witness an outflow of $7.5 million. Butterfill states that despite this positive net inflow trend, “trading volumes remain 27% below the 2023 average.” Regardless, Bitcoin, which led the pack in last week’s inflow, experienced a dramatic shift in recent hours. Specifically, the asset witnessed a swift surge above $30,000, propelled by an unsubstantiated rumor by Cointelegraph about the US Securities and Exchange Commission (SEC) approving a spot BTC ETF. The regulator debunked the rumors.  Related Reading: Bitcoin Path To $70,000? Analyst Shows What This ‘Head And Shoulders’ Pattern Reveals However, the crypto quickly retraced its steps once the rumor was debunked, particularly by a FOX Business reporter. 🚨BlackRock has just confirmed to me that this is false. Their application is still under review. https://t.co/XIfIWZ0Ule — Eleanor Terrett (@EleanorTerrett) October 16, 2023 At the time of writing, Bitcoin is trading at $28,049, still exhibiting bullish behavior with a 4.3% increase in the last 24 hours. Featured image from Unsplash, Chart from TradingView

The SEC sets examination priorities based on feedback from examiners and input from investors and the industry.

Tether, the world’s largest stablecoin company, has reaffirmed its commitment to combating cryptocurrency-funded terrorism and warfare by collaborating with law enforcement agencies worldwide.  The company has frozen 32 addresses containing $873,118.34, allegedly linked to illicit activities in Israel and Ukraine.  Tether Collaborates With Global Law Enforcement According to a blog post on October 16, Tether has played a significant role in assisting 31 law enforcement agencies across 19 jurisdictions, freezing $835 million in assets primarily associated with thefts from blockchain and exchange hacks.  Related Reading: Bitcoin Price Surges 7% In 10 Minutes On Fake iShares ETF News The company’s collaborations span various countries, including Brazil, Singapore, Germany, Canada, Argentina, China, Ukraine, and the United States. By actively engaging with authorities, Tether aims to contribute to the fight against cybercrime and ensure stolen funds are returned to legitimate users. The company further stated:  Of this, Tether has frozen 32 addresses, containing $873,118.34, that were found to be linked to illicit activity in Israel and Ukraine. Tether has been working with the NBCTF in Israel to counter cryptocurrency-funded terrorism and warfare. The ability of Tether to freeze and return illicitly obtained funds highlights the traceability and transparency of blockchain transactions. Contrary to common misconceptions, cryptocurrency transactions are not anonymous; they are meticulously recorded on the blockchain, allowing for the tracking and tracing of fund movements.  CEO Stresses Traceability The recently announced CEO of Tether, Paolo Ardoino, emphasized that criminals using cryptocurrencies for illegal activities will inevitably be identified. Ardoino stated:  Tether remains committed to promoting responsible blockchain technology use and standing as a robust defense against cybercrime. We eagerly anticipate continued collaboration with global law enforcement agencies as part of our commitment to global security and financial integrity. While Tether’s actions demonstrate the industry’s capacity to combat criminal use effectively, some critics within the blockchain industry continue to scrutinize the crypto sector, often neglecting to address the slow or inadequately equipped traditional financial system’s role in combating criminal funding.  On this matter, Tether’s CEO emphasized the importance of recognizing the traceability and trackability of blockchain transactions, which serve as potent deterrents to illicit activities. Related Reading: Crypto Shorts See Carnage As Bitcoin Surges Towards $28,000 As the stablecoin company behind USDT continues to collaborate with law enforcement agencies globally, the company’s efforts highlight the potential of blockchain technology to enhance financial security and integrity.  The traceability of transactions provided by blockchain technologies offers a robust defense against cybercrime and illicit financial activities. As the fight against cybercrime intensifies, continued collaboration between cryptocurrency companies and law enforcement agencies will play a crucial role in ensuring the integrity and stability of the digital asset space. Featured image from Shutterstock, chart from TradingView.com 

The move comes after the Financial Conduct Authority imposed restrictions on its U.K. partner REBS.

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The Shiba Inu ecosystem has started out the new week on a particularly positive note. The burn rate, which is a community initiative to reduce the massive supply of the token, has seen a significant jump as the price of the meme coin has recovered. SHIB Burn Rises 233% A Monday report by Shiba Inu burn tracking website Shibburn showed that the SHIB burn rate has seen an impressive 233% climb. This puts a turn on the particularly slow weekend which saw burn rates decline rapidly. Related Reading: By The Numbers: Bitcoin Hashrate Poised To Complete 100% Growth In 2023 As the new trading week opens up, the total SHIB tokens burned during this time has crossed 56.98 million. This was the result of tokens being sent to the burn address across 29 addresses, with more than 3.7 million tokens sent to the burn address in the last hour as of the time of this writing. Burn rate spikes 233% | Source: Shibburn The token burn also led to an increase in the burn rate for the last week as well. Monday’s burn figures saw the weekly burn total rise above 316.7 million. This is a 26% increase in the burn rate compared to the previous seven days. Some of the largest burns came from the ‘0x909a9’ and ‘0x4be2’ addresses. Both addresses burned a total of 7,119,784 million and 8,095,490 million tokens respectively. The total comes out to over 15 million tokens, accounting for around 27% of the total burns for the day. SHIB price holding $0.0000071 | Source: SHIBUSD on Tradingview.com Shiba Inu Sees Price Recovery On Sunday, the price of Bitcoin surged toward the $28,000 level, and in response, the rest of the crypto market followed the flagship cryptocurrency. Shiba Inu was no different and finally saw a reversal in its bull stretch since the month began. Shiba Inu rose around 1.24% in the 24-hour period and although this is not as impressive as some of the recoveries mounted by other assets, it has helped the cryptocurrency to secure its support at $0.000007. This gives bulls some wiggle room as they regain their bearings in the market. Related Reading: How Ripple’s Rumored Token Burn Could Affect The XRP Price However, Shiba Inu is still seeing small losses of 0.59% on the weekly chart. This suggests that the bulls’ hold on the asset is weak and bears could regain control if momentum slips. This battle for control is mirrored by the daily trading volume of the crypto which is up 25.85% and sitting at $101.7 million, according to data from CoinMarketCap. So far, there doesn’t seem to be any special event pushing the price of SHIB besides the Bitcoin recovery. Given this, if the Bitcoin rally ends, then SHIB will most likely follow and fall into losses again. Featured image from U.Today, chart from Tradingview.com

Hello everybody I am new and yes I did a really bad mistake. I just sent eth from my wallet to exchange but did set the gas fee to the lowest I could. Now my transaction is pending forever. I tried to cancel and speed it up but it didn’t help so far. Check here:…
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The former FTX engineering director reportedly testified that SBF would “unilaterally spend Alameda’s money” and was “ultimately” in charge of the firm rather than Caroline Ellison.