First Mover Americas: SEC Sues Kraken; #Binance Faces $4B Settlement
#Binance Holding Ltd. would be asked to pay $4 billion to settle U.S. Department of Justice accusations of multiple criminal violations, according to a report from Bloomberg News on negotiations between the DOJ and the company, which also leave open the possibility its founder Changpeng "CZ" Zhao will face U.S. criminal charges. Binance has been under a lengthy investigation by U.S. authorities for money laundering, bank fraud and violating U.S. sanctions laws, and the talks could reportedly conclude in the coming weeks. A spokesperson with the DOJ declined to comment to CoinDesk. Binance didn't immediately respond to a request for comment.
Crypto exchange Kraken commingled customer and corporate funds while operating as an unregistered broker, clearing agency and dealer, the U.S. Securities and Exchange Commission (#SEC ) alleged in a new lawsuit Monday. The federal regulator claimed that the San Francisco-based company violated federal securities laws in a repeat of its suits against other crypto trading platforms. Unique to Monday's lawsuit are claims that Kraken created a "significant risk" by commingling up to $33 billion in customer crypto with its own corporate assets, the regulator said, quoting Kraken's independent auditor. "Similarly, Kraken has held at times more than $5 billion worth of its customers' cash, and it also commingles some of its customers' cash with some of its own," the suit said. "In fact, Kraken has at times paid operational expenses directly from bank accounts that hold customer cash."
#Bitcoin -friendly Javier Milei wins #Argentina presidential election
Argentina’s long-lasting inflation crisis has been a heated topic in the South American country, with the Argentine peso recording a 140% increase in annual inflation in the last 12 months.
How to effectively trade the upcoming Solana rally
Numerous experts anticipate that the approval of Spot Bitcoin ETFs and the occurrence of Bitcoin halving will trigger a bullish market.
However, the duration of this upswing is uncertain due to unfavorable microeconomic factors and the widely anticipated upcoming events.
There is a distinct possibility that the markets have already factored in and adjusted for any potential price increases, making it challenging to predict how long the current upswing will persist.
Nonetheless, there is a potential for excellent short-term trading prospects.
#Crypto
#XRP to $11: Here’s the Projected Potential Timeline
This XRP forecast came from Changelly, a crypto trading platform. The brokerage firm’s bullish stance extends beyond the $11 forecast as it believes XRP can touch an ultimate All-Time High (#ATH) price of approximately $26 by 2032.
The Potential XRP Growth Catalyst
XRP has had a very impressive price action this year. Besides its current 0.92% slip to $0.6111, the digital currency has jumped as high as 78.99% since the start of the year.
Notably, the Changelly’s XRP $10 price projection indicates a 1,700% surge from the current price level, an ambitious feat for the coin. Additionally, if achieved, the $26 projection by 2032 means XRP will have to grow by 4,154.6% from now till then.
#BTC price dips 4% as Bitcoin analysis reveals low liquidity above $33K
#Bitcoin remains prone to volatility, while further downside offers the “path of least resistance” for BTC price next, analysis warns.
Data from Cointelegraph Markets Pro and TradingView followed Bitcoin as it descended to $36,470 — down over $1,000 on the day.
The landscape closely followed events from earlier in the week, where bulls failed to flip new highs to support and endured long liquidations.
These were less present on the day, with around $21 million of BTC longs wiped out at the time of writing, per data from monitoring resource CoinGlass. On Nov. 14, the tally reached $120 million.
Strike Rolls Out Bitcoin Purchases To Users Globally
The #Bitcoin app company is also partnering with Bitrefill to allow customers to pay for goods via the Lightning Network.
Bitcoin firm Strike has expanded its services on a global scale, now allowing users in 36 countries (soon to be 65+) beyond the U.S. to buy bitcoin through the app, founder Jack Mallers announced in a blog post Thursday.
“We��re rolling out a highly anticipated feature that Bitcoiners worldwide have requested for years,” Mallers wrote. “Now, Strike users around the globe can experience the ease of buying bitcoin directly through our platform.”
#Singapore to pilot use of wholesale central bank digital currencies in 2024
SINGAPORE — Come 2024, Singapore will pilot the live issuance and use of wholesale central bank digital currencies, said Ravi Menon, managing director of the Monetary Authority of Singapore.
“We will take our experiments a step further next year,” said Menon at Singapore FinTech #festival 2023 on Thursday, without specifying more details on the timeframe.
“I’m pleased to announce that MAS will pilot the live issuance of wholesale CBDCs to instantaneously support payments across commercial banks here,” Menon said. MAS is the city-state’s central bank and financial regulator.
Wholesale CBDC is a digital currency issued by a central bank, that’s used exclusively by central banks, commercial banks or other financial institutions to settle large-value interbank transactions. It’s unlike retail CBDCs which cater to individuals and businesses, facilitating everyday transactions.
“Since 2016, the MAS has conducted many experiments with other central banks and the financial industry to explore the use of wholesale CBDCs on distributed ledgers to facilitate real time cross border payments and settlements,” said Menon, referring to the database spread across a network that is accessible from several geographical locations.
#Bitcoin Dips 5% to Under $36K as Crypto Rally Runs Into Wall, Liquidating $340M in 2 Days
The SEC delaying a decision about spot #BTC ETFs could leave the market without a catalyst until early January, K33 analysts said this week.
The bitcoin (BTC) yo-yo of the past week continued on Thursday, with Wednesday's rally completely reversed, leaving the crypto down 5% for the session and trading under $36,000.
It was just 24 hours ago that bitcoin was surging and within a few dollars of crossing the $38,000 level for the first time in more than 18 months.
TAPROOT WIZARDS RAISE $7.5 MILLION TO ADVANCE ORDINALS, L2S, ZK-SNARKS ON #Bitcoin
Taproot Wizards, a Bitcoin Ordinals project focused on advancing Bitcoin's capabilities, has secured $7.5 million in funding to assemble a team of top tier developers to build on Bitcoin.
The investment round was led by Standard #Crypto , with Geometry, Collider Ventures, StarkWare, UTXO Management, Bitcoin Frontier Fund, Masterkey and Newman Capital participating in the raise as well.
"We went for a larger seed round of $7.5 million because we feel time is of the essence," said Taproot Wizards co-founder Udi Wertheimer. "We've been bullish on bitcoin for a decade but we genuinely believe that the best time to build in bitcoin is now."
Taproot Wizards aims to assemble a solid team of developers to further develop tools and applications that leverage the full potential of the open source protocol. The project's mission revolves around maximizing the potential of Taproot, an upgrade designed to enhance Bitcoin's privacy, security, and efficiency.
Why #Bitcoin ETFs launch won’t be a ‘buy the rumor, sell the news’ event
However, it won’t be the case for the potential launch of bitcoin BTCUSD, +1.44% exchange-traded funds, according to Dan Morehead, founder and managing partner at Pantera Capital, and Jeff Lewis, product manager of hedge funds at the firm. If a bitcoin ETF is approved, it would only boost bitcoin prices further, they said.
Optimism around bitcoin ETFs have contributed to a 30% gain of bitcoin over the past 30 days, according to CoinDesk data.
#Bitcoin drop triggers over $100M in crypto market liquidations in the past 24 hours
Quick Take
The recent drop in Bitcoin, breaking below the $37,000 level, has resulted in a wave of liquidations across the crypto market, surpassing $100M. Among the major digital assets, Ethereum faced a significant hit with $15M in liquidations, while Bitcoin followed closely with $13M, primarily due to long positions liquidated.
Finally im breaking into the fandom not three years later still thinking about the fact that Pomni can't remember her name and random gave her Pomni which in russian means "remember"
#theamazingdigitalcircusfanart#pomni#tadcpomni#artistsontumblr#art#digitalillustration #drawing #artwork #digitalpainting #painting #tadcfanart #fanart #tadccaine #caine
$1 Billion in Old Bitcoin Wallets Vulnerable to Exploits: Report
#Crypto recovery firm Unciphered disclosed vulnerabilities that impact millions of #BitcoinJS-based wallets created between 2011 and 2015.
This particular library was utillized by BitcoinJS wallets that were in use between 2011 and 2015, but Unciphered noted that it was difficult to pinpoint the exact time frame.
‘We can confirm that this vulnerability is exploitable, however, the amount of work necessary to exploit wallets varies significantly and, in general, considerably increases over time,” said researchers at the firm.
“That is to say, as a rule, impacted wallets generated in 2014 are substantially more difficult to attack than impacted wallets generated in 2012.”
Based on these estimates, the number of wallets at risk are in the #millions, and the value at risk at over $1 billion. Unciphered said it is in the process of coordinating disclosures to the relevant parties to alert affected users to shift funds to a new wallet.
The firm claims to have discovered the vulnerability when trying to recover funds for a customer that was locked out. However, the researchers said they have refrained from sharing more information related to it as they would run the risk of giving bad actors the ammo to carry out an attack.
“Bad guys are no doubt already at work trying to create their own proof of concept so they can recreate and implement the attack we found. But we’re hoping that controlling some of the details will make it hard for them and give the honest owners a head start,” said the researchers.
#SHIBA Inu Price Prediction 2025: How High Will #SHIB Price Go After the 2024 Halving
In the unpredictable cryptocurrency world, investors must manage their expectations appropriately. The market is marked by fast volatility, and the possibility for huge gains is accompanied by equally great dangers. The Halving is one of the most important events when it comes to crypto prices. Shiba Inu has just made a reappearance after a year of dormancy. This article is all about how high will the SHIB price go after the 2024 Halving? and its price in the year 2025. Let’s take a look at this Shiba Inu Price Prediction 2025 article.
Might Gary Gensler's political ambitions be standing in the way of a spot bitcoin (#BTC ) approval?
Given how knowledgeable U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is about Bitcoin (#BTC ), it's hard to come up with a logical reason for his standing in the way of a spot ETF, said ARK Invest CEO Cathie Wood in a CNBC appearance.
CATHIE WOOD: Gensler's reluctance toward a spot #Bitcoin ETF stems from his fear of manipulation, despite teaching about #Bitcoin at MIT 🤔
Speculation suggests his aspirations to be Secretary of the Treasury might be the actual reason for the approval delay 😮