The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC.
Decentral Block Post
Access real-time blockchain and cryptocurrency news updates from around the globe.
Alameda tried to redeem 3,000 wBTC days before bankruptcy: BitGo CEO
The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC.
Alameda tried to redeem 3,000 wBTC days before bankruptcy: BitGo CEO
The CEO of Bitgo stated that the Alameda representative failed the security verification process required to convert wrapped-BTC into BTC.
FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-Fried
Court filings show Ryan Salame tipped off the Bahaman securities regulator, telling them that FTX was sending customer funds to Alameda Research.
Realized losses from FTX collapse peaked at $9B, far below earlier crises
Weekly-realized losses peaked at $20.5 billion when Terra Luna (LUNC) imploded and reached $33 billion when 3AC and Celsius collapsed, according to Chainalysis.
Rep. Tom Emmer mulls bringing back bill aimed at reducing crypto red tape
Tom Emmer is considering reintroducing a bill that removes the requirement for entities to be registered as money transmitters if they don’t handle customer assets.
Bitcoin retraces intraday gains as bears aim to pin BTC price under $18K
BTC bears are positioned to profit from this week’s Bitcoin options expiry, especially if price stays below $18,000.
Bitcoin retraces intraday gains as bears aim to pin BTC price under $18K
On Dec. 14, Bitcoin (BTC) broke above $18,000 for the first time in 34 days, marking a 16.5% gain from the $15,500 low on Nov. 21. The move followed a 3% gain in the S&P 500 futures in 3 days, which reclaimed the critical 4,000 points support.
Bitcoin/USD index (orange, left) vs. S&P 500 futures (right). Source: TradingViewWhile BTC price started the day in favor of bulls, investors anxiously awaited the U.S. Federal Reserve Committee's decision on interest rates, along with Fed chair Jerome Powell's remarks. The subsequent 0.50% hike and Powell’s explanation of why the Fed would stay the course of its current policy gave investors good reason to doubt that BTC price will hold its current gains leading into the $370 million options expiry on Dec. 16.
Analysts and traders expect some form of softening in the macroeconomic tightening movement. For those unfamiliar, the Federal Reserve has previously increased its balance sheet from $4.16 trillion in February 2020 to a staggering $8.9 trillion in February 2022.
Since that peak, the monetary authority has been trying to unload debt instruments and exchange-traded funds (ETFs), a process known as tapering. However, the previous five months resulted in less than $360 billion of assets decline.
Until there's a clearer guide on the economic policies of the world's largest economy, Bitcoin traders are likely to remain skeptical of a sustained price movement, regardless of the direction.
SBF’s Bahamian prison reported for 'harsh' conditions and 'degrading treatment' — US State Dept
Bahamian Commissioner of Correctional Services Doan Cleare reportedly said that most of the facilities had been renovated since 2021 and now had no “issues with rodents."
New OECD report takes lessons from crypto winter, faults ‘financial engineering’
The Organisation for Economic Cooperation and Development found regulation and retail consumer protections lacking in a highly complex trading environment.
Binance 'put FTX out of business' — Kevin O'Leary
A US Senate committee heard details of the investor's conversations with Sam Bankman Fried before the collapse.
Here is why Bitcoin price gave back all its intraday gains
On Dec. 14, Bitcoin (BTC) price hit a 1-month high and saw a brief resurgence in bullish momentum, but the Federal Reserve’s Federal Open Market Committee (FOMC) hawkish report and comments from Fed chair Jerome Powell sent BTC to an intraday low at $17,659.
Stocks and Bitcoin started the day slightly up but quickly retracted on the FOMC report. To date, Bitcoin price remains closely correlated to equities and a majority of investors have concerns about the impact of further rate increases in the future.
BTC correlation to Dow Jones and S&P 500. TradingViewRising interest rates and hawkish talk from Powell impact BTC price
While the Consumer Price Index (CPI) report showed easing inflation at 7.1%, Powell still wants to reach 2% overall inflation. Inflation has been a determining factor in raising interest rates and the current 0.5% hike had consensus amongst FOMC participants. The Fed members also agree that rate hikes should continue in 2023.
FOMC survey for future interest rate hikes. Source: Federal ReserveDuring the Dec. 14 press conference, Powell stated:
“We may see higher rates for a longer period to achieve the 2% inflation goal”
Here is why Bitcoin price gave back all its intraday gains
BTC price retraced the entirety of its intraday gains after Fed chair Jerome Powell issued hawkish statements in relation to today’s 0.50% interest rate hike.
Here is why Bitcoin price gave back all its intraday gains
On Dec. 14, Bitcoin (BTC) price hit a 1-month high and saw a brief resurgence in bullish momentum, but the Federal Reserve’s Federal Open Market Committee (FOMC) hawkish report and comments from Fed chair Jerome Powell sent BTC to an intraday low at $17,659.
Stocks and Bitcoin started the day slightly up but quickly retracted on the FOMC report. To date, Bitcoin price remains closely correlated to equities and a majority of investors have concerns about the impact of further rate increases in the future.
BTC correlation to Dow Jones and S&P 500. TradingViewRising interest rates and hawkish talk from Powell impact BTC price
While the Consumer Price Index (CPI) report showed easing inflation at 7.1%, Powell still wants to reach 2% overall inflation. Inflation has been a determining factor in raising interest rates and the current 0.5% hike had consensus amongst FOMC participants. The Fed members also agree that rate hikes should continue in 2023.
FOMC survey for future interest rate hikes. Source: Federal ReserveDuring the Dec. 14 press conference, Powell stated:
“We may see higher rates for a longer period to achieve the 2% inflation goal”
MetaMask to allow users to purchase and transfer Ethereum via PayPal
The service will initially be rolled out to select PayPal users within the United States.
Senate FTX hearing: calls for regulation and crypto criticisms aplenty
"Short of enacting draconian authoritarian policies, cryptocurrency cannot be stopped," said Senator Pat T
The Agenda podcast chats crypto and sex work with WetSpace CEO Allie Rae
Allie Rae of WetSpace joins Cointelegraph’s new podcast The Agenda to discuss how crypto and blockchain can empower adult content creators.
Anonymous crypto developers belong in prison — and will be there soon
Users are interested in knowing the identities of developers behind the games they play. And soon, lawmakers are likely to write such disclosures into law.
Crypto users claim Gemini email leak occurred much earlier than first reported
Alleged reports of compromised emails began appearing as early as October.
Sens. Warren and Marshall introduce new money-laundering legislation for crypto
The senators have created a harsh, sweeping bill to clean up crypto’s AML/KYC act that will benefit from further discussion in the next Congress.