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In a period that has seen many crypto currencies achieving positive results, many investors have started thinking again about this digital currency, wondering whether or not to invest. Not everyone shares an optimistic outlook on recent events, with JPMorgan analysts casting doubt on the sustainability of the current crypto market surge, suggesting that the “crypto rally appears excessive.” They pointed to two main factors driving the recent crypto rally. Firstly, anticipating a spot Bitcoin ETF approval in the U.S. could inject fresh funds into the cryptocurrency market.  The analysts, led by Nikolaos Panigirtzoglou, mentioned in their report on Wednesday, November 8, that such approval might be viewed as a win for the crypto industry and a setback for the Securities and Exchange Commission (SEC). This could result in a more lenient SEC stance in the future. However, the analysts expressed skepticism regarding both of these factors or arguments. Cryptocurre...

The use of Artificial Intelligence (AI) for price predictions is growing in popularity in the cryptocurrency market. With that in mind, the GNY Range Report team decided to test whether its model could make better predictions than crypto traders. GNY Range Report uses technical analysis indicators to generate price range predictions for cryptocurrencies with a machine-learning LSTM model. Results were shared on November 2 on the project’s website. For the mentioned test, the team launched a Bitcoin (BTC) price prediction competition to forecast BTC’s price closure on October 27. In this contest, crypto traders made different guesses daily from October 23 to October 25. There was a total of 206 predictions, of which 56 had a higher accuracy than the 3% observed from the artificial intelligence. This means that 56 traders predicted a price within a 3% variation from the final result. Cryptocurrency Machine learning algorithm sets ETH price for November 30, 2023 ...

Cybercriminals deploy new crypto scams using Google ads to redirect users to phishing sites deceptively. A new type of crypto scam has surfaced recently, where scammers are buying ads for genuine crypto websites on Google, and then using URL injection to automatically redirect users to a malicious site once they click on the ad.  The founder of DeFiLlama, a popular DeFi data aggregator platform, first reported the scam. According to his tweet, cybercriminals have bought a Google ad placeholder for DeFiLlama, which appears at the top of the search engine when you search from the platform. However, this is not a legitimate ad, as clicking on it leads users to a marketing website, redirecting them to a phishing site.  There's a new crypto scam on google Scammers will buy an ad for a proper crypto website on google, with the proper URL Then when users click on it they get sent to an ad network (https://t.co/k5azsHhC2s) to track the click, but that network redirects to a sca...

Ripple (XRP), Litecoin (LTC) and Stellar (XLM) gained bullish momentum over the past 24 hours as the global crypto market cap turned green after last week’s “bloodbath.” According to data from Santiment, the social volumes of LTC, XRP and XLM have skyrocketed over the past 24 hours. This led to short-term gains for the three cryptocurrencies, leading the top altcoins. After # crypto market caps dropped sector-wide last week, several #altcoins are scratching their way back, particularly $LTC, $XRP, & $XLM. With market value to realized value metrics continuing to show traders are down big, don't be surprised if the trend continues this week. pic.twitter.com/cX8q9Tcu7B — Santiment (@santimentfeed) August 21, 2023 Moreover, the brief rally came while the global crypto market capitalization registered a 0.3% gain over the past day. According to CoinMarketCap (CMC), the total market cap rose from $1.05 trillion on Aug. 20 to $1.06 trillion at the time of writing. ...

The dismembered corpse of a missing American crypto investor has been found in a Bulgarian sewer by plumbers attempting to fix a blocked drain. As reported by the Daily Mirror, Christian Peev was reported missing by his cousin on August 10. However, police in Sofia believe that the 41-year-old may have been murdered two days earlier by his friend Vesco Valchinov. It’s thought that Valchinov, who met Peev when he was working as a bartender, killed Peev with a dumbbell before chopping up his body and flush ing much of it down his toilet. Parts that he was unable to flush , such as pieces of bone and Peev’s head, he buried. Valchinov was arrested after police used his phone to track him to a hotel in Vitosha Mountain. Police say that another man, Konstantin Subotinov, helped him to dismember and hide Peev’s body . According to local media, Mr Peev had previously helped Valchinov with his crypto trades, leading police to suspect that the murder was motivated by money. The investigatio...

VC firm Sequoia Capital has reportedly downsized its crypto fund from $585 million to $200 million amid a liquidity crunch and focus on smaller crypto players. A report by the Wall Street Journal on July 27 says the tech-focused VC firm Sequoia Capital will scale back its crypto fund. The move was driven by the need to align with the evolving market conditions in the crypto currency industry. One of the primary motivations behind the fund reduction is to lower the capital threshold, making it easier for investors to participate in Sequoia’s fund offerings. “We made these changes to sharpen our focus on seed-stage opportunities and to provide liquidity to our limited partners,” stated Sequoia in a released statement. Over the past three years, the company has returned more than $15 billion to its investors, highlighting its commitment to delivering results. You might also like: VC crypto funding plunged 91% since 2022 The venture capital firm introduced...

The U.S. House Committee on Agriculture has approved the Financial Innovation and Technology for the 21st Century Act. Better known as FIT for the 21st Century, the bill is designed to establish a comprehensive regulatory framework for digital assets. It is the product of the House Agriculture Committee and the House Financial Services Committee and was passed due to bipartisan efforts of Republicans and pro-crypto Democrats. This Thursday, the Committee will markup H.R. 4763, the Financial Innovation and Technology for the 21st Century Act. This bill aims to close regulatory gaps, protect consumers, and ensure U.S. leadership in financial & technological innovation. # crypto https://t.co/WlpzUciahK — House Committee on Agriculture (@HouseAgGOP) July 24, 2023 The bill’s passage by the Agriculture Committee comes a day after the Financial Services Committee gave its own approval, laying the groundwork to better define the status of crypto currencies in the eyes of the l...

Craig Wright, the self-proclaimed creator of Bitcoin [BTC], recently emerged in the news again. During the decline of numerous crypto projects and the 2022 market crash, Wright kept a relatively low profile. However, the limelight is now on him as James Mellor, a judge at the England and Wales High Court, ruled that Wright must provide 400,000 British pounds or $516,000 as security for legal expenses. This is in order to pursue his allegations against crypto exchanges Coinbase and Kraken. Back in 2022, Craig Wright filed a lawsuit against Coinbase and Kraken , blaming them for copyright infringement. The entrepreneur asserted that both exchanges, especially Payward, the operator of Kraken , violated his intellectual property rights by using the term ‘Bitcoin’. Also Read: Craig Wright , Self-Proclaimed Satoshi Nakamoto Has Sued Coinbase and Kraken for “Misrepresenting” Bitcoin Here’s why the Judge is doubtful of Craig Wrights’s financial ...

Money laundering in Russia may include converting illicitly obtained bitcoin into fiat, after a drug dealer’s case led to a disagreement in the law from the nation’s Supreme Court. As reported by the Russia n Legal Information Agency (RAPSI), the Supreme Court of the Russia n Federation’s decision to overturn a defendant’s acquittal marks the first case of money laundering via Crypto currency.  The defendant was initially arrested after reportedly storing large quantities of drug precursors and producing mephedrone on a large scale. He sold drugs for bitcoin and converted his crypto into 8 million rubles ($91,000) in total, and sent the funds to his roommate’s daughter’s bank accounts. In his initial court case, the defendant was found guilty of drug trafficking but was acquitted on charges of money laundering. The court decided that since the bitcoin never ‘entered circulation,’ the money laundering charge couldn’t stick. Prose...

Bakkt Holdings’ research report reveals sustained interest in cryptocurrencies among market participants, emphasizing the need for regulatory clarity in driving adoption. Fintech firms a gateway for crypto adopters In its latest crypto ecosystem study, Bakkt Holdings Inc (NYSE: BKKT) delved into the sentiments, adoption rate, and concerns of over 2,000 U.S. residents who own or are interested in cryptocurrencies.  The study sheds light on their attitude toward crypto regulation, consumer protection, and the factors influencing their interest in digital assets. Despite the recent negative volatility in the global digital assets market, the study found that 84% of current crypto holders remain interested in making further purchases, with only 27% of crypto-curious respondents signaling interest in investing in the nascent digital asset class, representing an 11 percentage point drop since the first phase of the study in October 2022.  The researchers also found that news and ev...

Australia’s National Disability Insurance Scheme (NDIS)  is on high alert following a high-profile ransomware attack on law firm HWL Ebsworth, where sensitive client information may have been compromised and released on the dark web. Russian ransomware group ALPHV/Blackcat responsible  Sensitive client information is at risk following a massive cyberattack on the law firm HWL Ebsworth, with the National Disability Insurance Scheme (NDIS) agency expressing concerns. The hack was reportedly carried out by ALPHV/Blackcat ransomware group, and the criminals have posted some of the stolen data on the dark web.  Per sources close to the matter, of the 3.6 terabytes (TB) of compromised data, about 1.1 TB has been released on the dark web. HWL Ebsworth obtained a court order to prevent further release of the leaked material, as clients, including the NDIS agency, wait to learn if personal information has been exposed. You might also like: Russian hacker indicted for ...

SEC-regulated firm INX only lists five cryptocurrencies on its platform, considering them as non-securities. Amid lawsuits against United States-based exchange s like Coinbase and Binance.US, an exec at a domestic digital asset firm has noted the legal implications of these recent enforcement actions for the industry. The era of trading cryptocurrencies as non-securities is coming to an end, according to Itai Avneri, chief operating officer at the blockchain trading firm INX. Avneri believes that a massive amount of coins offered for trading on crypto exchanges is among core reasons for legal issues. “You cannot continue to trade cryptocurrencies as if they are not securities. Those days are over,” Avneri said in an interview with Cointelegraph on June 19. According to the COO, INX outlined this exact idea in its prospectus five years ago. “It's like we had this crystal ball in our hands,” he added. According to data from CoinGecko, Coinbase has as many as 241 cryptocurrencies lis...

Police and financial regulators in several European countries are collaborating with the US Securities and Exchange Commission (SEC) to unravel more information on Binance, sources close to the matter told Protos. The SEC has been soliciting information on Binance’s activities from several European nation-states for some time and a number of them have been spurred into action after the exchange was indicted by the SEC and accused of commingling funds earlier this month. Other Europe an authorities are still in the process of assessing the complexity of Binance ’s case and are yet to comply with the SEC ’s requests for information. Binance’s opaque European network Like FTX, Binance has dozens if not hundreds of companies registered across the world, many of them in Europe. Apart from having a license to serve as a crypto exchange in countries like France and Cyprus, and in Spain through its subsidiary MoonPay, it has or had other companies registered in the...

Welcome to the 122nd Weekend Shift! What’s the deal? Over the weekend, we’ll update this post with some of the most interesting articles, podcasts, charts, and opinion pieces we’re too busy to write about. OK, only Crypto ? Not necessarily. We do that Monday to Friday, so we try to explore new subjects on weekends. Feel free to join in and submit entries on Twitter. Any topic is fair game. 46 mins ago The Context: Is Binance chief CZ going to jail? The SEC’s suit backs up suspicions that CZ and execs hoped to use Binance US as a regulatory shield to keep the heat off Binance. Latest from @BennettTomlin Subscribe and read: https://t.co/KDTZ7uCT5R pic.twitter.com/le7KhkZn8r — Protos (@Protos) June 9, 2023 Starting off with the latest issue of The Context. Subscribe and read ️ 45 mins ago Okay https://t.co/szcMsR3uB0 pic.twitter.com/c16yUDJRaT — Ki Young Ju (@ki_young_ju) June 8, 2023 44 mins ago Get out of crypto platforms now, I can't say it...

Numerous companies are still suffering from the crypto bear market. Popular blockchain Analysis firm Nansen has announced a significant reduction in employees in order to stay afloat. On May 30, CEO Alex Svanevik disclosed an “extremely difficult decision” to scale back the company’s workforce. He announced that 30% of employees will be laid off. Nansen is the latest firm to join the long list of companies that have let go of employees due to harsh market conditions. Svanevik gave two primary reasons for the crypto firm reducing its staff. First of all, he claimed that the business expanded too quickly in its early years of operation. Second, he claimed that the cryptocurrency markets have had a “brutal” year since 2022. Svanevik said that the firm’s “cost base is too high relative to where the company is today.” According to Svanevik, Nansen has “several years of runway,” but only if it can become sustainable. He explained that achieving sustainability entails “reducing our su...