Economy in Trouble Venture capitalist Chamath Palihapitiya believes the economy is headed for a downturn. He points to data showing that Americans have used up their savings, forcing them to seek jobs. However, Palihapitiya says companies are hesitant to hire due to the Federal Reserve’s (Fed) policy of keeping interest rates high. This is leading…
Early Investors Selling On-chain analyst Willy Woo says that early Bitcoin investors, known as OGs, are selling their holdings in large numbers. These OGs hold more Bitcoin than all exchange-traded funds combined. Paper Bitcoin Woo also blames the futures market, or “paper Bitcoin,” for exacerbating the selling pressure. Futures markets allow people to buy and…
Saylor’s Bold Prediction Michael Saylor, a big fan of Bitcoin, has made another bold prediction: Bitcoin could hit $8 million per coin. He shared this at a recent event in Prague, leaving the crypto world buzzing. Missed Opportunities Saylor admitted that he was hesitant about investing in Bitcoin in 2013. He thought it was just…
Solana’s Struggles Solana’s price has been falling for the past month, hitting a low of $141.3. This decline is partly due to the recent drop in Bitcoin’s price. Major Support Level However, Solana has now reached a major support level at $141, which could reverse its price trend. Crypto analyst Ali Martinez believes that if…
Spike in Taker Buy/Sell Ratio Crypto analysts have noticed a surge in the Bitcoin taker buy/sell ratio on the HTX Exchange. This means that more traders are buying coins at higher prices, indicating increased buying pressure. Implications for BTC Price Analyst Ali Martinez believes this buying surge could signal an upcoming price increase for Bitcoin….
Competing Claims Emerge The FTX Debtors’ Estate is facing claims from various parties over the ownership of assets forfeited by Sam Bankman-Fried (SBF) after his conviction for fraud and money laundering. The Estate’s Claim The estate claims a superior right to these assets, including: Proceeds from Robinhood shares Funds in FTX accounts Funds in Binance…
Despite the crypto market’s recent sideways trend, a Solana-based NFT platform has seen a surge in activity, leading to a 30% increase in its native token’s value. Increased On-Chain Activity Metaplex (MPLX) has reported a record number of unique wallets interacting with its protocol in May, with over 834,000 direct transactions. Additionally, 3.1 million new…
Truist Bank, one of the largest banks in the US, has confirmed a data breach that exposed the personal information of thousands of account holders. Hacker’s Claim A hacker known as Sp1d3r claims to be selling a trove of data from Truist Bank, including: Names Bank account numbers Transaction history Balances Sp1d3r is reportedly asking…
Investigation Uncovers Undisclosed Risks New York Attorney General Letitia James has reached a $50 million settlement with cryptocurrency exchange Gemini over allegations of fraud. The settlement aims to recover assets for investors who were allegedly defrauded through Gemini’s Earn program. The investigation found that Gemini knew about the risks associated with its partner, Genesis, but…
A recent survey by the Bank for International Settlements (BIS) reveals that 94% of central banks are investigating the creation of their own digital currencies (CBDCs). Wholesale vs. Retail CBDCs The BIS survey found that most central banks are exploring both retail and wholesale CBDCs. Retail CBDCs are designed for everyday transactions by individuals, while…
