Huobi Global says it has no plans to conduct “large-scale layoffs” and has refuted reports that two of its top executives have resigned amid a takeover of the Seychelles-based crypto exchange. Reports that the company’s chief executive officer (CEO) Leon Li and chief financial officer (CFO) Chris Lee have resigned appeared to have originated from
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United States-based crypto exchange Coinbase has become the latest organization to stand behind Ripple Labs in its legal battle against the Securities and Exchange Commission (SEC), which could wrap up as soon as the first half of 2023. Paul Grewal, Coinbase’s chief legal officer in a series of tweets on Oct. 31 said the exchange
As Bitcoinist reported, the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is nearing its end in leaps and bounds. Both parties recently filed their motions for summary judgment after the end of the discovery phase. The chances of the SEC winning the case have continued to shrink, according to
Bitcoin (BTC) rallied on the back of the United States stock market’s 3.4% gains on Oct. 28, with the S&P 500 index rising to its highest level in 44 days. In addition, recently released data showed that inflation might be slowing down, which gave investors hope that the Federal Reserve might break its pattern of
A $250 surprise rally took place between Oct. 25 and Oct. 26, pushing the price of Ether (ETH) from $1,345 to $1,595. The movement caused $570 million in liquidations in Ether’s bearish bets at derivatives exchanges, which was the largest event in more than 12 months. Ether’s price also rallied above the $1,600 level, which
Ethereum’s native token, Ether (ETH), looks poised to log a major price rally versus its top rival, Bitcoin (BTC), in the days leading toward early 2023. Ether has a 61% chance of breaking out versus Bitcoin The bullish cues emerge primarily from a classic technical setup dubbed a “cup-and-handle” pattern. It forms when the price
The Securities and Futures Commission of Hong Kong has set up requirements for entities considering a public offering of an exchange-traded fund (ETF) tied to cryptocurrency futures. In an Oct. 31 circular, the SFC said that in addition to previously imposed requirements on unit trusts and mutual funds for authorization of a crypto futures ETF, management
Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s (BTC) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31. Total crypto market cap, USD (in billions). Source: TradingView The cryptocurrency market
Approximately 14 years ago today, on Halloween, Satoshi Nakamoto introduced Bitcoin to the world by sharing the renowned white paper. Satoshi’s invention, shared on metzdowd.com’s Cryptography Mailing List, not only solved a problem that had plagued computer scientists for years, but the invention also redefined how people look at money. Furthermore, as a side effect,
The London Stock Exchange-listed cryptocurrency firm Argo Blockchain has warned that it’s at risk of ceasing operations due to a lack of financing. The crypto mining company Argo Blockchain continues to explore new financing opportunities after failing to raise major capital from a strategic investor, according to an announcement on Oct. 31. Argo has been
The Monetary Exchange of Singapore (MAS), the country’s central bank and financial regulator, reminded all authorized cryptocurrency exchanges in the country to comply with financial sanctions in place toward Russia. This statement comes after research that revealed millions in crypto donations raised by pro-Russia groups in support of the ongoing conflict in Ukraine and increased
Bitcoin (BTC) begins a key week of internal and macroeconomic events still trading above $20,000. After its highest weekly close since mid-September, BTC/USD remains tied to higher levels within a macro trading range. The bulls have been keen to shift the trend entirely, while warnings from more conservative market participants continue to call for macro
United States-based crypto advocacy group Blockchain Association has come out in support of Ripple Labs amid its ongoing legal battle with the Securities and Exchange Commission (SEC), claiming the case could be very important for the future of the crypto industry. In an Oct. 28 post, the advocacy group announced it will “stand” with the
Despite the turbulence that broke out in the crypto market this summer, there is an important long-term marker that should be considered in any complex assessment — the combination of adoption and regulation. The latest report by EUBlockchain Observatory, named “EU Blockchain Ecosystem Developments,” tries to measure this combination within the European Union, combining the
Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox
Bitcoin (BTC) continued consolidating into the Oct. 30 weekly close as concerns over a deeper retracement became vocal. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader avoids new longs below $21,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling levels just below $21,000 on the day. Weekend trading had produced an early return
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