Gemini Forms Creditors Committee With Houlihan Lokey to Resolve Genesis Liquidity Issues

Jan 9, 2023

Roughly two weeks ago a report from the Financial Times (FT) claimed Genesis Global Capital owed $900 million to Gemini customers and the publication’s sources noted that the exchange was attempting to recover the funds by creating a creditors committee. 31 days after Gemini paused the Earn program’s withdrawals, Cameron Winklevoss tweeted that it has formed a committee with Houlihan Lokey acting as the financial advisor. Gemini Hopes to ‘Provide a Path for the Recovery of Funds’ ...read more

Government Agencies Need Crypto Wallets and Access to Exchanges, Russian Prosecutors Say

Jan 9, 2023

Russian authorities are finding it hard to cash out digital assets they have gotten hold of, prosecutors have warned. They have also urged the government to recognize cryptocurrency as property, allow departments to have digital wallets and use crypto exchanges. Prosecutor’s Office Insists Russian Investigators Should Have Cryptocurrency Wallets Russian prosecutors are convinced that investigative authorities, among other government bodies, should be allowed to set up crypto wallets and ...read more

Federal Prosecutors Probe Democrats Over Donations From Sam Bankman-Fried

Jan 9, 2023

Several members of the U.S. Democratic Party and campaign committees are reportedly being probed by federal prosecutors over donations from former FTX CEO Sam Bankman-Fried (SBF) and another executive of the collapsed cryptocurrency exchange. “To any person, entity, or political campaign that has received stolen customer money, we ask that you work with us to return that money to the innocent victims,” said a U.S. district attorney following the arrest of Bankman-Fried. Federal Prosecu ...read more

Litecoin Price Bleeds, Why The Bulls Could Stay On Sidelines

Jan 9, 2023

Litecoin price started a fresh decline from the $80 resistance against the US Dollar. LTC is struggling and remains at a risk of more losses towards the $55 support. Litecoin started a fresh decline from the $85 resistance against the US Dollar. The price is now trading below $70 and the 100 simple moving average (4-hours). There was a break below a key contracting triangle with support near $75.00 on the 4-hours chart of the LTC/USD pair (data feed from Kraken). The price could continue to ...read more

Whales Accumulate $726 Million In Bitcoin, Report Shows

Jan 9, 2023

Bitcoin and the crypto market have been of late seeing most prices of crypto in red, with little hope for an uptrend, at least based on charts. The past few weeks have seen growing fear and doubt about the asset class. However, despite the recent trend in the market, the primary crypto asset, Bitcoin, is recording an increase in whale transactions. The big shots have gathered more BTC in the past fortnight, valued at hundreds of millions of dollars. Bitcoin Gets Massive Whale Accumulation Accor ...read more

Onecoin Co-Founder Pleads Guilty to Fraud Charges in US

Jan 9, 2023

Karl Sebastian Greenwood, a co-founder and operator of Onecoin, has pled guilty to his part in building the notorious crypto pyramid. The fake cryptocurrency’s “global master distributor” has been in custody since 2018 when he was arrested in Thailand and extradited to the United States. Cryptoqueen’s Partner at Onecoin Admits Role in Multimillion-Dollar Fraud Co-founder of Onecoin Karl Sebastian Greenwood pled guilty in Manhattan federal court to wire fraud and money laundering ch ...read more

SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries

Jan 9, 2023

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importance of bringing “intermediaries and issuers of crypto securities” into compliance. In addition, the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) has recommended that regulatory agencies continue to “enforce existing rules and regulations applicable to the crypto-asset ecosystem.” SEC Chair Gensler on Crypto Regulation SEC Chairman Gary Gensler talked ...read more

Donald Trump Trading Card NFTs Skyrocket in Value Despite Being Mocked for His ‘Major Announcement’

Jan 9, 2023

After the former 45th president of the United States, Donald Trump revealed his non-fungible token (NFT) trading card collection, Trump’s NFTs sold out within hours after the announcement. Statistics from Opensea, three days after the sale, show that the Trump NFT trading card collection’s floor value is now .49 ether or roughly $578. Trump NFTs Sell out, Cards Quadruple in Value on Opensea, Left-Leaning Political Commentators Are Outraged Donald Trump once said in 2019 that he was not ...read more

While Miners Deal With Low BTC Prices, Bitcoin’s Mining Difficulty Target Expected to Increase 3% Higher

Jan 9, 2023

Bitcoin’s mining difficulty target is expected to increase on Dec. 19, 2022, after printing the largest reduction recorded in 2022 on Dec. 5, at block height 766,080. During the last 2,016 blocks, Bitcoin’s hashrate has been around 254.3 exahash per second (EH/s), and block intervals have been faster at 9:41 minutes per block. Bitcoin’s Difficulty Expected to Jump 3% Higher on Dec. 19, Bitcoin Average Mining Costs Are Higher Than the Current Spot Market Value In roughly 24 hours, the ...read more

Bitcoin Price Prints Bearish Technical Pattern, Why It Could Continue Lower

Jan 9, 2023

Bitcoin price declined heavily and traded below $17,000. BTC is consolidating losses and remains at a risk of more losses below the $16,500 support. Bitcoin started a fresh decline below the $17,200 and $17,000 support levels. The price is trading below $17,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $16,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move lower unless it clears t ...read more

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