3 things we might see from crypto as 2023 winds to an end

[ad_1] As the holiday season approaches, anticipation in the cryptocurrency world heightens for the annual phenomenon known as the "Santa rally." Amidst this festive period, market dynamics tend to shift. This season, there are several factors that could influence the last few months of the year.Institutional investment surgeCryptocurrency prices spiked notably at the end of 2020 and 2021, driven by increased investor optimism and institutional interest. Major financial institutions and

GAO finds controversial SEC guidance is subject to congressional oversight

[ad_1] United States Senator Cynthia Lummis has scored another one for crypto with a Government Accountability Office (GAO) decision issued on Oct. 31. The GAO found that Securities and Exchange Commission (SEC) Staff Accounting Bulletin 121 should be subject to congressional review. That bulletin, issued in March 2022, has been a source of ire for many pro-crypto lawmakers.The GAO was acting on a letter sent by Lummis to the U.S.

Bitget, Floki teams accuse each other of manipulation after token listing

[ad_1] The teams behind the Floki protocol and Bitget crypto exchange have accused each other of market manipulation after the protocol’s token, TokenFi (TOKEN), was listed and delisted by Bitget. This is according to an October 31 social media post from the Floki team and a blog post from Bitget. The Floki team claimed that Bitget listed the token before it was launched, referring to the Bitget listing as a “fake

Bitcoin futures data highlight investors’ bullish view, but there’s a catch

[ad_1] Bitcoin (BTC) price surged by 26.5% in October and several indicators hit a one-year high, including the BTC futures premium and the Grayscale GBTC discount. For this reason, it's challenging to present a bearish thesis for BTC as data reflects the post-FTX-Alameda Research collapse recovery period and is also influenced by the recent increase in interest rates by the U.S. Federal Reserve.Despite the positive indicators, Bitcoin price still remains around

Project mBridge reveals details of its workings ahead of MVP, commercial debut

[ad_1] The Bank for International Settlements (BIS) released a colorful and fact-filled Project mBridge update on Oct. 31. The publication combines technical and promotional discussions in a shift of tone as the project prepares to become a minimum viable project for commercial launch next year.The update gathers a significant amount of information about the central bank digital currency (CBDC) bridge that had been scattered or completely unavailable until now. The

Will weakness in Magnificent 7 stocks spread to Bitcoin price?

[ad_1] The mega-cap tech stocks, which saw a robust start in 2023, are now grappling with massive trillion-dollar losses, leaving their shareholders concerned. Wall Street's unease over surging bond yields and higher interest rates has cast a shadow on these companies. Traders are now pondering the potential impact on Bitcoin (BTC) if the S&P 500 downtrend continues.Consequently, investors must investigate the correlation between Bitcoin and the S&P 500 and consider

Fragmentation in DeFi: DeFi’s liquidity challenge

[ad_1] DeFi enthusiasts know all too well the benefits that decentralization can bring to finance: trustless operations, innovation and greater control for users.  Yet, as with any transformational shift, growing pains are inevitable. Among these, fragmentation, particularly in terms of liquidity, casts a shadow over the DeFi horizon.  At its core, fragmented liquidity — where available liquidity is spread across multiple trading venues—is the reason why decentralized protocols have failed

Circle to phase out consumer accounts, but business and Mint will remain

[ad_1] Stablecoin issuer Circle will close out consumer or individual accounts on November 30, according to emails received by Circle customers on October 31. In an email to Cointelegraph, the stablecoin issuer confirmed that it is closing the accounts but confirmed that business and institutional “Mint” accounts will remain available.On the morning of October 31, crypto user Evanss6 posted an image to X (formerly Twitter) of an email that Circle

Tether attestation shows cash and cash equivalents of 86% as loans decline

[ad_1] The reserves for stablecoin issuer Tether contained approximately 86% cash and cash equivalents as of September 30, according to a new attestation report from accounting firm BDO. This is the highest percentage of cash and cash equivalents that have ever made up Tether’s reserves.Tether today releases its attestation for Q3 /2023.- cash & cash equivalent portion of reserves is all time high at 85.7%, yielding ~$1B- US T-bill (direct

SBF criminal trial moves to closing arguments

[ad_1] The ongoing criminal trial involving FTX founder Sam Bankman-Fried (SBF) will move into closing arguments on November 1. On Day 15 of the SBF trial, lead defense attorney Mark Cohen's request for acquittal was denied by presiding judge Lewis Kaplan. Instead, the case will move to closing arguments from both sides at 9:30 a.m. ET (1:30 p.m. UTC) on Nov. 1, with all evidence discovery concluded. Attornies from both sides