Tether, the issuer of the popular stablecoin USDT, is branching out into new areas of business. The company has announced the creation of four new divisions: Data Focuses on emerging technologies like artificial intelligence (AI) and peer-to-peer platforms. Finance Aims to build financial infrastructure, including a digital asset tokenization platform. Power Ventures into crypto mining,…
A crypto investor who purchased Ethereum (ETH) at its lowest point in September 2022 is now selling some of their holdings. Whale’s Transactions Withdrew 96,638 ETH from Coinbase in September 2022 at an average price of $1,567. Deposited 15,000 ETH to Kraken in March 2023. Sent another 5,000 ETH to Kraken on Tuesday. Whale’s Holdings…
Bitcoin’s Price Fluctuations Bitcoin has seen a recent surge of 1.7%, but analysts at CryptoQuant warn of a possible downturn to $52,000 if key levels are breached. Derivative Market Uncertainty CryptoQuant highlights a cautious stance among derivative traders, with declining open interest and funding rates. This indicates traders’ concerns despite the entry of institutional players….
Crypto analyst Rekt Capital shares his insights on Bitcoin (BTC) after a recent 9% drop. Re-Accumulation and Fake Breakdowns Rekt Capital warns that Bitcoin’s current re-accumulation phase may lead to false assumptions of a breakdown. He notes that previous accumulation ranges have often included downward wicks that trick investors into thinking the trend is reversing,…
The Manipulation Scheme Avraham Eisenberg, also known as “Avi,” orchestrated a $110 million fraud against the Mango Markets crypto platform. He manipulated the price of the platform’s token, MNGO, to artificially inflate its value. This allowed him to exploit an exchange feature and withdraw funds without intending to repay them. Eisenberg’s Arrest and Trial Eisenberg…
Goldman Sachs, a major investment firm, has shared its thoughts on the upcoming Bitcoin halving. Halving’s Influence on Bitcoin’s Value Historically, Bitcoin halvings have boosted its value. However, Goldman Sachs believes that this halving may have less impact. Factors Affecting Bitcoin’s Future Goldman Sachs emphasizes that other factors will play a bigger role in Bitcoin’s…
Whale Behavior in the Market Downturn Bitcoin has been having a rough time lately, with its price dipping below $60,000 at one point. But what are the “whales” doing amid this market panic? Large Holders: The Giants of Bitcoin IntoTheBlock, a market intelligence platform, has shed light on the behavior of Bitcoin’s largest investors, known…
Suspects Arrested Hong Kong customs officials have arrested three individuals involved in a massive $230 million money laundering operation. The scheme involved a crypto platform and bank accounts linked to shell companies. Investigation The investigation revealed that one account received daily deposits of up to $4.9 million and facilitated 167 transactions. Two suspects allegedly handled…
As Bitcoin’s halving event on April 19th draws near, miners are doing something unusual. Instead of selling off their coins like they did before the 2016 and 2020 halvings, they’re holding on tight. Miners Accumulating Bitcoin Data shows that since the start of 2024, miners have added over 12,000 BTC to their holdings, bringing their…
Revenue Model Ethereum generates revenue by charging transaction fees to users. These fees are burned, reducing the supply of ETH and increasing its value. The blockchain also issues new ETH as rewards to validators, but this dilutes the holdings of existing ETH owners. Reduced Transaction Costs The Dencun upgrade and the introduction of blobs reduced…
