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It's been a bullish week for crypto. Gainers, Losers and trends to watch!
The past week has proven to be a bullish one for the cryptocurrency market, with significant gains observed across various digital assets. Bitcoin, the leading cryptocurrency, experienced a notable surge, breaking through key resistance levels and surpassing its previous all-time high. This bullish momentum spilled over to other major cryptocurrencies such as Ethereum, which also witnessed substantial price appreciation. However, not all cryptocurrencies shared in the gains, as some faced losses and struggles amidst the market's upward trajectory.Among the notable gainers of the week, altcoins took center stage. Coins like Solana, Cardano, and Binance Coin recorded impressive gains, driven by strong market demand and positive news surrounding their respective blockchain projects. Solana, in particular, stood out with its meteoric rise, propelled by increased adoption and the launch of several successful decentralized applications (dApps) on its platform. Cardano's smart contract capabilities and upcoming upgrades also generated investor enthusiasm, while Binance Coin benefited from the continued expansion of the Binance ecosystem and its utility within the platform.While the overall market sentiment was bullish, some cryptocurrencies experienced losses or faced challenges during the week. For instance, Ripple's XRP encountered a setback as it struggled to maintain its upward momentum due to ongoing regulatory concerns. Additionally, meme coins like Dogecoin and Shiba Inu faced selling pressure, as investors shifted their focus towards more fundamentally strong projects. These market dynamics highlighted the importance of careful investment decisions and the need for thorough research before entering speculative investments.As the crypto market continues to evolve, several trends emerged during the week that are worth watching. One significant trend is the growing institutional adoption of cryptocurrencies. Institutional investors, including major banks, hedge funds, and asset management firms, have increasingly recognized the potential of digital assets as an alternative investment class. This institutional interest has not only contributed to the market's bullishness but has also brought more stability and legitimacy to the crypto space.Another trend to watch is the rise of decentralized finance (DeFi) platforms. DeFi protocols, built on blockchain technology, aim to revolutionize traditional financial systems by providing open and permissionless access to various financial services such as lending, borrowing, and yield farming. These platforms gained significant traction during the week, with increased activity and innovation in the DeFi space. However, as with any rapidly evolving sector, risks and challenges remain, including regulatory uncertainties and smart contract vulnerabilities.Furthermore, the integration of cryptocurrencies into mainstream payment systems is gaining momentum. Major companies, including payment processors and tech giants, are exploring ways to incorporate cryptocurrencies into their platforms, providing users with more options for transacting with digital assets. This development further reinforces the notion that cryptocurrencies are becoming increasingly accepted and utilized in everyday financial activities.In conclusion, the past week showcased a bullish trend in the cryptocurrency market, with notable gains witnessed by major cryptocurrencies and altcoins alike. However, the market also witnessed losses for some cryptocurrencies and highlighted the importance of conducting thorough research before making investment decisions. As the crypto market continues to evolve, trends such as institutional adoption, the growth of DeFi platforms, and the integration of cryptocurrencies into mainstream payment systems are worth monitoring. These developments indicate a gradual shift towards wider acceptance and utilization of digital assets in the global financial landscape..#opbnb #Layer2 #BTC #BTC #BTC BTC#crypto2023 crypto2023#crypto2023 crypto2023#crypto2023 crypto2023#crypto2023 crypto2023#CryptoTradingBots
US Bitcoin Corp to host 8,500 BTC miners for bankrupt Celsius
Data center operator US Bitcoin Corp (USBTC) has announced it will host 8,500 Bitcoin miners from the insolvent crypto lender Celsius at its Alpha Site.
A press statement on Aug. 31 revealed that the miners are expected to have an estimated hashrate of 820 petahash (PH).
The hosting arrangement is part of a more significant deal that could see USBTC managing as many as 310,000 Bitcoin (BTC) miners. These miners would belong to Celsius and other clients like Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D.
In May, USBTC, in collaboration with other partners in the Fahrenheit LLC consortium, won the auction to manage Celsius assets. These assets comprise a lending portfolio and approximately 122,000 mining machines.
#BTC #bitcoin #crypto2023 #crypto2023 #blockchain #bitcoin
A press statement on Aug. 31 revealed that the miners are expected to have an estimated hashrate of 820 petahash (PH).
The hosting arrangement is part of a more significant deal that could see USBTC managing as many as 310,000 Bitcoin (BTC) miners. These miners would belong to Celsius and other clients like Teslawatt, Foundry USA, Marathon Digital, Decimal Group, and Sphere 3D.
In May, USBTC, in collaboration with other partners in the Fahrenheit LLC consortium, won the auction to manage Celsius assets. These assets comprise a lending portfolio and approximately 122,000 mining machines.
#BTC #bitcoin #crypto2023 #crypto2023 #blockchain #bitcoin
🚀 #JOE Pump result
Binance Futures, ByBit USDT
#JOE/USDT All take-profit targets achieved 😎
Profit: 152.453% 📈
Period: 2 Hours 33 Minutes ⏰
#CYBER #JOE #cryptocurrency #crypto2023
Binance Futures, ByBit USDT
#JOE/USDT All take-profit targets achieved 😎
Profit: 152.453% 📈
Period: 2 Hours 33 Minutes ⏰
#CYBER #JOE #cryptocurrency #crypto2023
Binance Futures, ByBit USDT, KuCoin Futures
#AGIX/USDT Take-Profit target 2 ✅
Profit: 80.1938% 📈
Period: 17 Hours 58 Minutes ⏰#
#cryptocurrency #Binance #crypto2023
#AGIX/USDT Take-Profit target 2 ✅
Profit: 80.1938% 📈
Period: 17 Hours 58 Minutes ⏰#
#cryptocurrency #Binance #crypto2023
🚀 #JOE Pump result
✅✅✅✅ All targets achieved in just 2 Days 16 Hours 42 Minutes
💵 Huge quick profit 119.8437% 💪
👉 Advance buy and sell targets given only available for premium
👉 More quick profit signals available in premium . Hurry up 🏃♂
⏰ premium signal available in Quest 🙋
✅✅✅✅ All targets achieved in just 2 Days 16 Hours 42 Minutes
💵 Huge quick profit 119.8437% 💪
👉 Advance buy and sell targets given only available for premium
👉 More quick profit signals available in premium . Hurry up 🏃♂
⏰ premium signal available in Quest 🙋
Aptos, Microsoft partner to fuse AI with blockchain.
Aptos Labs has partnered with Microsoft to integrate AI capabilities with blockchain technology, per an announcement on Aug. 9.
The Aptos Assistant, developed by Aptos Labs in collaboration with Microsoft, provides users and developers with valuable insights and analytical data on the Aptos environment.
The partnership will involve Aptos Labs establishing validator nodes on Microsoft’s Azure cloud computing service. These nodes are vital in supporting the blockchain and enabling transaction processes.
Further enriching the collaboration, GitHub, a Microsoft-owned code repository, will integrate Aptos’s programming language, “Move,” into Copilot. This AI system aids developers by automatically completing code segments.
Microsoft plans to engage Aptos Labs in discussions with prominent financial institutions interested in creating blockchain-powered applications on Azure.
Rashmi Misra, a Microsoft executive, stressed the importance of this partnership, highlighting the intersection of AI and blockchain as a compelling area. She underscored their shared goal of making blockchain more accessible to a broader range of users.
Contextually, while AI startups witnessed an impressive fundraising feat of nearly $25 billion in early 2023, their crypto counterparts garnered around $3.6 billion.
Despite this disparity, Mo Shaikh, Aptos Labs’ co-founder, and CEO, perceives AI and crypto as complementary, not competitive.
Shaikh pointed out the potential of blockchain to offer genuine, authenticated information, unlike large AI models, which might ingest information of questionable veracity. He posits that AI when sourcing data from blockchain, could drastically reduce instances of “hallucinations” or inaccuracies.
The actual implications of such integrations remain to be fully realized. However, Shaikh alludes to a deeper, shared vision with Microsoft—a vision not merely oriented around the AI hype but one rooted in intricate integration and collaborative development.
Follow, like and turn on notifications for more.✍️
#BinanceTournament #crypto2023 #MultiChain #crypto2023 #FDUSD
The Aptos Assistant, developed by Aptos Labs in collaboration with Microsoft, provides users and developers with valuable insights and analytical data on the Aptos environment.
The partnership will involve Aptos Labs establishing validator nodes on Microsoft’s Azure cloud computing service. These nodes are vital in supporting the blockchain and enabling transaction processes.
Further enriching the collaboration, GitHub, a Microsoft-owned code repository, will integrate Aptos’s programming language, “Move,” into Copilot. This AI system aids developers by automatically completing code segments.
Microsoft plans to engage Aptos Labs in discussions with prominent financial institutions interested in creating blockchain-powered applications on Azure.
Rashmi Misra, a Microsoft executive, stressed the importance of this partnership, highlighting the intersection of AI and blockchain as a compelling area. She underscored their shared goal of making blockchain more accessible to a broader range of users.
Contextually, while AI startups witnessed an impressive fundraising feat of nearly $25 billion in early 2023, their crypto counterparts garnered around $3.6 billion.
Despite this disparity, Mo Shaikh, Aptos Labs’ co-founder, and CEO, perceives AI and crypto as complementary, not competitive.
Shaikh pointed out the potential of blockchain to offer genuine, authenticated information, unlike large AI models, which might ingest information of questionable veracity. He posits that AI when sourcing data from blockchain, could drastically reduce instances of “hallucinations” or inaccuracies.
The actual implications of such integrations remain to be fully realized. However, Shaikh alludes to a deeper, shared vision with Microsoft—a vision not merely oriented around the AI hype but one rooted in intricate integration and collaborative development.
Follow, like and turn on notifications for more.✍️
#BinanceTournament #crypto2023 #MultiChain #crypto2023 #FDUSD
🤑 For long term Bitcoin holders and buyers, the Log Growth Curve chart could potentially be the best chart to be using for potential entries and exists.
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#GOATMoments #googleai #cryptocurrency #tradingStrategy #tradingtips
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#GOATMoments #googleai #cryptocurrency #tradingStrategy #tradingtips
Bitcoin’s environmental challenge
Bitcoin, the pioneering cryptocurrency, is grappling with significant environmental challenges due to its vast annual electricity consumption of around 139.39 TWh, comparable to the power demands of entire countries. Bitcoin’s PoW system, responsible for its high energy use, contributed to a carbon footprint exceeding 65 million tonnes of CO2 in 2021.
Bitcoin transactions are validated by users who mine bitcoins through the energy-consuming PoW process. The winning miner, who solves complex cryptographic puzzles, receives new Bitcoins as a reward. This process, primarily powered by fossil fuels, releases significant amounts of greenhouse gases, exacerbating global warming. As research published in 2022 revealed,
Bitcoin mining may be responsible for 65.4 megatonnes of CO2 per year, which is comparable to country-level emissions in Greece (56.6 megatonnes in 2019).”
Compared to Bitcoin, which operates on the energy-demanding proof-of-work (PoW) consensus mechanism, TRON’s energy use is significantly lower, consuming less than 0.001% of Bitcoin’s annual electricity consumption of 83.87 TWh (as of July 1, 2022).
The legal roadmap:-
As the cryptocurrency industry evolves, sustainability is now a key concern. While the path to eco-friendliness isn’t straightforward, the transformation of Ethereum from a proof-of-work to a proof-of-stake system shows that change is achievable. Further, collaborations between the crypto community, regulators, and other stakeholders can harmonize technology with environmental responsibility.
The proposed Crypto-Asset Environmental Transparency Act of 2022 is one such initiative. It seeks to compel crypto-mining operations using over 5 megawatts of power to report their carbon dioxide emissions, increasing transparency and understanding of crypto-mining’s environmental impact.
The Act also proposes an interagency study to assess the environmental impacts of crypto mining in the US, including the number of mining operations, the effects of energy demand on emissions, local impacts on noise and water pollution from mining facilities, and the negotiation of demand response programs between mining centers and utilities.
The story of cryptocurrencies and their environmental effects is still being written. As it progresses, the pursuit of sustainability continues to shine as a guiding light, leading the way toward a more environmentally friendly and responsible future.
Bitcoin transactions are validated by users who mine bitcoins through the energy-consuming PoW process. The winning miner, who solves complex cryptographic puzzles, receives new Bitcoins as a reward. This process, primarily powered by fossil fuels, releases significant amounts of greenhouse gases, exacerbating global warming. As research published in 2022 revealed,
Bitcoin mining may be responsible for 65.4 megatonnes of CO2 per year, which is comparable to country-level emissions in Greece (56.6 megatonnes in 2019).”
Compared to Bitcoin, which operates on the energy-demanding proof-of-work (PoW) consensus mechanism, TRON’s energy use is significantly lower, consuming less than 0.001% of Bitcoin’s annual electricity consumption of 83.87 TWh (as of July 1, 2022).
The legal roadmap:-
As the cryptocurrency industry evolves, sustainability is now a key concern. While the path to eco-friendliness isn’t straightforward, the transformation of Ethereum from a proof-of-work to a proof-of-stake system shows that change is achievable. Further, collaborations between the crypto community, regulators, and other stakeholders can harmonize technology with environmental responsibility.
The proposed Crypto-Asset Environmental Transparency Act of 2022 is one such initiative. It seeks to compel crypto-mining operations using over 5 megawatts of power to report their carbon dioxide emissions, increasing transparency and understanding of crypto-mining’s environmental impact.
The Act also proposes an interagency study to assess the environmental impacts of crypto mining in the US, including the number of mining operations, the effects of energy demand on emissions, local impacts on noise and water pollution from mining facilities, and the negotiation of demand response programs between mining centers and utilities.
The story of cryptocurrencies and their environmental effects is still being written. As it progresses, the pursuit of sustainability continues to shine as a guiding light, leading the way toward a more environmentally friendly and responsible future.
Bitcoin Slips below $29, 800
The cryptocurrency markets were trading in the red on Monday as the FOMC interest rate decision looms over crypto markets this week.
Bitcoin (BTC) declined 0.42% to $29,793, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $10 billion, rising 22.28% in the last 24 hours.
Bitcoin continues to trade below the $30000 mark at around $29780. The price of Bitcoin did not rise about $30000 over the weekend. This recent price decline could be because of the US SEC chair expressing disappointment with the defeat over XRP's case and increasing selling pressure," Edul Patel, Co-founder and CEO at Mudrex, said.
"There could be little volatility this week as FOMC's decision on interest-rate policy is due on Wednesday," Edul added.
Other top crypto tokens were also trading lower. XRP, BNB, Cardano, Dogecoin, and Solana were also trading lower. The global cryptocurrency market cap was trading lower, around $1.19 trillion, falling 0.49% in the last 24 hours.
#crypto2023 #bitcoin #Binance
Bitcoin (BTC) declined 0.42% to $29,793, whereas Ethereum (ETH) was below the 1,900 level. BTC volume stood at approximately $10 billion, rising 22.28% in the last 24 hours.
Bitcoin continues to trade below the $30000 mark at around $29780. The price of Bitcoin did not rise about $30000 over the weekend. This recent price decline could be because of the US SEC chair expressing disappointment with the defeat over XRP's case and increasing selling pressure," Edul Patel, Co-founder and CEO at Mudrex, said.
"There could be little volatility this week as FOMC's decision on interest-rate policy is due on Wednesday," Edul added.
Other top crypto tokens were also trading lower. XRP, BNB, Cardano, Dogecoin, and Solana were also trading lower. The global cryptocurrency market cap was trading lower, around $1.19 trillion, falling 0.49% in the last 24 hours.
#crypto2023 #bitcoin #Binance
DeFiance Capital Founder: Bear Market Officially Ends in 2022-2023
The founder of DeFiance Capital, a crypto investment fund, tweeted that the bear market of 2022-2023 has officially ended. He provided six reasons to support this claim:
The worst macroeconomic tightening has passed, with a decrease in CPI and positive real interest rates. There is a higher likelihood of interest rate cuts next year.
Institutional acceptance of cryptocurrencies as an asset class is growing, starting with BlackRock's application for a Bitcoin ETF.
If even tokens that were considered likely to be classified as securities cannot be defeated by the SEC, the chances of the SEC labeling all tokens as securities are significantly reduced.
Most retail investors have been eliminated, and unless there are clear unlock schedules, those who still hold are unlikely to sell in the short term.
The market is significantly under-allocated to assets other than BTC and ETH, and there is much to be done in terms of diversification.
Hong Kong's embrace of cryptocurrencies is real and opens the door for Asian financial institutions to enter the crypto space in a legitimate way.
Please note that the views expressed in the tweet represent the opinion of the individual and should not be taken as financial advice. Investors are encouraged to conduct their own research and consult with professionals before making investment decisions.
#BRC20 #crypto2023 #cryptocurrency #googleai #Binance
The worst macroeconomic tightening has passed, with a decrease in CPI and positive real interest rates. There is a higher likelihood of interest rate cuts next year.
Institutional acceptance of cryptocurrencies as an asset class is growing, starting with BlackRock's application for a Bitcoin ETF.
If even tokens that were considered likely to be classified as securities cannot be defeated by the SEC, the chances of the SEC labeling all tokens as securities are significantly reduced.
Most retail investors have been eliminated, and unless there are clear unlock schedules, those who still hold are unlikely to sell in the short term.
The market is significantly under-allocated to assets other than BTC and ETH, and there is much to be done in terms of diversification.
Hong Kong's embrace of cryptocurrencies is real and opens the door for Asian financial institutions to enter the crypto space in a legitimate way.
Please note that the views expressed in the tweet represent the opinion of the individual and should not be taken as financial advice. Investors are encouraged to conduct their own research and consult with professionals before making investment decisions.
#BRC20 #crypto2023 #cryptocurrency #googleai #Binance
CAN BITCOIN HIT $42000 SOON?
Last week, see here, we found using the Elliott Wave Principle (EWP), Bitcoin (BTC) made an almost picture-perfect Fibonacci-based impulse pattern on several wave degrees, and we were looking for:
a W-2/b pullback to ideally $25600-26200, … and then the next rally should target at least $28000 but preferably $29500+ for green W-3/c.”
Thus, if we see five green waves up from last week’s low develop to ideally around $30500 over the next few days to weeks, then we know those five are only W-i of W-c of W-B. For now, we take it step by step at this stage and focus on green W-2/b and 3/c. Once complete, we will monitor for the potential, albeit highly likely, green W-4 and W-5.”
Fast forward, BTC dropped to $26260 for W-2 ($25600-26200 forecasted), rallied to $30776 for green W-3 ($29500+ forecasted), and topped on June 23 at $31413 (around $30500 forecasted) for green W-5. Proving how well the EWP works to predict BTC’s price movements. See the blue box in Figure 1.
Figure 1:-
Thus, BTC presented us with the anticipated five green waves, reaching their forecasted targets. Therefore, our view from last week (see below) means the caveat can now be removed, and BTC should be getting ready for that (black) C-wave rally.
Bigger picture-wise, the larger (black) b-wave we have been tracking –[see Figure 2 below] - has likely bottomed, and a C-wave rally to $36-48K, with $42K as the optimal middle, should be underway, with the only caveat that this is a smaller counter-trend (a-b-c) bounce staying below the April high.”
Figure 2:-
From the EWP, we know C-waves comprise five waves. In this case, red waves W-i, ii, iii, iv, and v. Red W-i has now topped as it formed five smaller green waves, and red W-ii should now be underway, targeting ideally $27750-29000. But corrections can also move more through time than price, and we may see the blue support zone ($29K+/-500) hold.
Regardless, thanks to the EWP, we know after five (green) waves up, expect three waves down (red W-ii) and another five waves back up (red W-iii).” And that is what we will be tracking over the next few days to months.
Let's know your opinion, use the comments section!
#googleai #crypto2023 #BTC #Binance #bitcoin
a W-2/b pullback to ideally $25600-26200, … and then the next rally should target at least $28000 but preferably $29500+ for green W-3/c.”
Thus, if we see five green waves up from last week’s low develop to ideally around $30500 over the next few days to weeks, then we know those five are only W-i of W-c of W-B. For now, we take it step by step at this stage and focus on green W-2/b and 3/c. Once complete, we will monitor for the potential, albeit highly likely, green W-4 and W-5.”
Fast forward, BTC dropped to $26260 for W-2 ($25600-26200 forecasted), rallied to $30776 for green W-3 ($29500+ forecasted), and topped on June 23 at $31413 (around $30500 forecasted) for green W-5. Proving how well the EWP works to predict BTC’s price movements. See the blue box in Figure 1.
Figure 1:-
Thus, BTC presented us with the anticipated five green waves, reaching their forecasted targets. Therefore, our view from last week (see below) means the caveat can now be removed, and BTC should be getting ready for that (black) C-wave rally.
Bigger picture-wise, the larger (black) b-wave we have been tracking –[see Figure 2 below] - has likely bottomed, and a C-wave rally to $36-48K, with $42K as the optimal middle, should be underway, with the only caveat that this is a smaller counter-trend (a-b-c) bounce staying below the April high.”
Figure 2:-
From the EWP, we know C-waves comprise five waves. In this case, red waves W-i, ii, iii, iv, and v. Red W-i has now topped as it formed five smaller green waves, and red W-ii should now be underway, targeting ideally $27750-29000. But corrections can also move more through time than price, and we may see the blue support zone ($29K+/-500) hold.
Regardless, thanks to the EWP, we know after five (green) waves up, expect three waves down (red W-ii) and another five waves back up (red W-iii).” And that is what we will be tracking over the next few days to months.
Let's know your opinion, use the comments section!
#googleai #crypto2023 #BTC #Binance #bitcoin
BITCOIN LOOKS IMPROVES SIGNIFICANTLY ; WHAT'S THE NEXT PRICE MOVE?
Bitcoin seems to be the flavor of the day, and everyone seems to be talking about it once again. The thing is that fundamentals have started to shift for Bitcoin in terms of news flow. For instance, Binance, which is the largest crypto exchange, seems to have settled its case with the US over its US assets. This is really good not only for the exchange but also for the crypto space, as the less time you spend with the SEC arguing this matter and focusing more on growth, the better.
In addition to this, retail investors who have been flushed out a number of times, mainly due to the whipsaw moves in the bitcoin price and also due to the adverse news flow over the past number of months, are feeling FOMO once again. Basically, they are looking at the news flow, such as that Fidelity has filed for the Bitcoin ETF and BlackRock (NYSE:BLK) has filed for the spot Bitcoin ETF, and then scratching their heads, wondering why they didn’t remember these fundamentals for the space, as this is not that they just decided overnight that they were going to file for the spot Bitcoin ETF.
This matter has been in play for a while, but the fact that institutions like BlackRock have filed for the ETF at a time when the SEC started to clamp down on all other players who weren’t playing by the rules is sort of a big thing to consider. Traders know that BlackRock has a great history of succeeding with the SEC, and they know that the spot Bitcoin ETF was the way forward for the institute to come together on this matter.
In addition to this, we strongly believe that this is not an incident that is more like buy the rumors and sell the news. We are highly optimistic that this particular event is actually going to help the fundamentals and the price action of Bitcoin. Thus, this may be the last time we see the price where it is trading, and it is certainly the time to bag some bargains
In terms of technical price, the only level that matters the most is the 50K price mark, but in between that, we have small resistance levels like 30K and 40K, which, once cleared will only build more momentum for the price.
#googleai #crypto2023 #bitcoin #Binance #BTC
In addition to this, retail investors who have been flushed out a number of times, mainly due to the whipsaw moves in the bitcoin price and also due to the adverse news flow over the past number of months, are feeling FOMO once again. Basically, they are looking at the news flow, such as that Fidelity has filed for the Bitcoin ETF and BlackRock (NYSE:BLK) has filed for the spot Bitcoin ETF, and then scratching their heads, wondering why they didn’t remember these fundamentals for the space, as this is not that they just decided overnight that they were going to file for the spot Bitcoin ETF.
This matter has been in play for a while, but the fact that institutions like BlackRock have filed for the ETF at a time when the SEC started to clamp down on all other players who weren’t playing by the rules is sort of a big thing to consider. Traders know that BlackRock has a great history of succeeding with the SEC, and they know that the spot Bitcoin ETF was the way forward for the institute to come together on this matter.
In addition to this, we strongly believe that this is not an incident that is more like buy the rumors and sell the news. We are highly optimistic that this particular event is actually going to help the fundamentals and the price action of Bitcoin. Thus, this may be the last time we see the price where it is trading, and it is certainly the time to bag some bargains
In terms of technical price, the only level that matters the most is the 50K price mark, but in between that, we have small resistance levels like 30K and 40K, which, once cleared will only build more momentum for the price.
#googleai #crypto2023 #bitcoin #Binance #BTC
Positive move for BNB
LIVE
COINCU
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CZ Rejects Allegations of Controlling $12 Billion in Customer Funds
Key Points:
Binance CEO CZ has emphatically refuted the CoinDesk report, claiming that $12 billion was transferred to enterprises under his control.
The initial story was based on the SEC’s accusations.
He labeled the claim “simply false,” questioning if the disinformation came from the journalist or the source itself.
Binance CEO Changpeng Zhao (CZ) denied on Thursday that the crypto exchange routed up to $12 billion in customer funds to other firms owned by the CEO.
The statement came amid claims that CZ redirected client monies to Merit Peak. Meanwhile, US Senators Elizabeth Warren and Chris Van Hollen have asked the US Justice Department to look into the crypto exchange Binance after the SEC’s complaint.
According to the CoinDesk article, the proof for these charges comes from testimony given by Sachin Verma, an SEC accountant, which would be used as part of the regulator’s arguments to ask the court to approve a temporary restraining order freezing assets on Binance.US.
Verma’s forensic investigation of Binance and CZ’s bank accounts showed that $12 billion was paid to Zhao and $162 million to a Guangying Chen-controlled business in Singapore.
The documents stated Chen and CZ held a variety of firms with no evident relation to Binance under their names. According to the SEC, the bulk of the monies delivered to CZ and Chen are now in “offshore” accounts.
In response to the SEC case, the Binance CEO said that all customer monies are accounted for and were never transferred in an unlawful way.
“To the best of my knowledge, Binance.US had in total roughly $2 billion in user funds. All user funds are accounted for, and never left the Binance.US platform (unless users withdraw themselves of course), ever.”
CZ reiterated his customary attitude of “4” for news that causes fear and uncertainty, claiming that the SEC case is an assault on the whole crypto market, not just the exchange.
“But $12 billion? The platform (Binance US) never had that much… not even close,” CZ asserted.
According to the SEC complaint, Binance participated in the unregistered offer and sale of securities, as well as combining investor money with the company’s own cash. This was quickly followed by the SEC lawsuit against Coinbase.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Binance CEO CZ has emphatically refuted the CoinDesk report, claiming that $12 billion was transferred to enterprises under his control.
The initial story was based on the SEC’s accusations.
He labeled the claim “simply false,” questioning if the disinformation came from the journalist or the source itself.
Binance CEO Changpeng Zhao (CZ) denied on Thursday that the crypto exchange routed up to $12 billion in customer funds to other firms owned by the CEO.
The statement came amid claims that CZ redirected client monies to Merit Peak. Meanwhile, US Senators Elizabeth Warren and Chris Van Hollen have asked the US Justice Department to look into the crypto exchange Binance after the SEC’s complaint.
According to the CoinDesk article, the proof for these charges comes from testimony given by Sachin Verma, an SEC accountant, which would be used as part of the regulator’s arguments to ask the court to approve a temporary restraining order freezing assets on Binance.US.
Verma’s forensic investigation of Binance and CZ’s bank accounts showed that $12 billion was paid to Zhao and $162 million to a Guangying Chen-controlled business in Singapore.
The documents stated Chen and CZ held a variety of firms with no evident relation to Binance under their names. According to the SEC, the bulk of the monies delivered to CZ and Chen are now in “offshore” accounts.
In response to the SEC case, the Binance CEO said that all customer monies are accounted for and were never transferred in an unlawful way.
“To the best of my knowledge, Binance.US had in total roughly $2 billion in user funds. All user funds are accounted for, and never left the Binance.US platform (unless users withdraw themselves of course), ever.”
CZ reiterated his customary attitude of “4” for news that causes fear and uncertainty, claiming that the SEC case is an assault on the whole crypto market, not just the exchange.
“But $12 billion? The platform (Binance US) never had that much… not even close,” CZ asserted.
According to the SEC complaint, Binance participated in the unregistered offer and sale of securities, as well as combining investor money with the company’s own cash. This was quickly followed by the SEC lawsuit against Coinbase.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Google set to lunch a free course
LIVE
Binance News
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Google Cloud Launches Free Courses to Help Users Build Their Own GPT-style AI
Google Cloud recently launched a suite of free online educational courses designed to teach the fundamentals of generative artificial intelligence (AI) systems, as well as provide an introduction to the Generative AI Studio development environment.
Learn more about #generativeAI at no cost! This Google Cloud Skills Boost learning path will teach you the foundational knowledge to understand Generative AI and Google Cloud’s approach to this transformative technology → https://t.co/uLeaKNpq67 pic.twitter.com/nRW1kcMZCR
— Google Cloud (@googlecloud) June 4, 2023
Generative AI systems have become a global industry since the launch of OpenAI’s ChatGPT system in November 2022. In the time since, Microsoft, Google, Amazon, Baidu and countless other tech outfits have sought to capitalize on the public fervor for large language models and image generators.
The new Google Cloud corpus comprises nine separate modules, including introductory courses in generative AI, large language models, responsible AI, image generation and Generative AI Studio. It also takes students on a deeper dive into important generative AI concepts such as encoder-decoder architecture, attention mechanism, transformer and BERT models, and how to create image captioning models.
The offerings end with a “quest” featuring labs and timed assignments, which students can complete in order to earn a Generative AI Explorer–Vertex AI badge.
According to Google Cloud, the courses should provide a sufficient introduction to the topic of generative AI to teach users the fundamentals and set them on the path to creating, training and deploying their own foundational models:
“This learning path guides you through a curated collection of content on Generative AI products and technologies, from the fundamentals of Large Language Models to how to create and deploy generative AI solutions on Google Cloud.”
Generative AI models have become a mainstay in the cryptocurrency and blockchain sectors recently. While their use cases as trading bots and data management assistants are well-documented, ChatGPT and other models also serve as educational conduits.
According to researchers from the Blockchain Research Lab in Hamburg, Germany, the proliferation of ChatGPT and similar AI systems may be a contributing factor in the ongoing rise in global cryptocurrency adoption, thanks to their ability to explain complex concepts to the general public.
Learn more about #generativeAI at no cost! This Google Cloud Skills Boost learning path will teach you the foundational knowledge to understand Generative AI and Google Cloud’s approach to this transformative technology → https://t.co/uLeaKNpq67 pic.twitter.com/nRW1kcMZCR
— Google Cloud (@googlecloud) June 4, 2023
Generative AI systems have become a global industry since the launch of OpenAI’s ChatGPT system in November 2022. In the time since, Microsoft, Google, Amazon, Baidu and countless other tech outfits have sought to capitalize on the public fervor for large language models and image generators.
The new Google Cloud corpus comprises nine separate modules, including introductory courses in generative AI, large language models, responsible AI, image generation and Generative AI Studio. It also takes students on a deeper dive into important generative AI concepts such as encoder-decoder architecture, attention mechanism, transformer and BERT models, and how to create image captioning models.
The offerings end with a “quest” featuring labs and timed assignments, which students can complete in order to earn a Generative AI Explorer–Vertex AI badge.
According to Google Cloud, the courses should provide a sufficient introduction to the topic of generative AI to teach users the fundamentals and set them on the path to creating, training and deploying their own foundational models:
“This learning path guides you through a curated collection of content on Generative AI products and technologies, from the fundamentals of Large Language Models to how to create and deploy generative AI solutions on Google Cloud.”
Generative AI models have become a mainstay in the cryptocurrency and blockchain sectors recently. While their use cases as trading bots and data management assistants are well-documented, ChatGPT and other models also serve as educational conduits.
According to researchers from the Blockchain Research Lab in Hamburg, Germany, the proliferation of ChatGPT and similar AI systems may be a contributing factor in the ongoing rise in global cryptocurrency adoption, thanks to their ability to explain complex concepts to the general public.
Last Cryptocurrency Project Invested By Ethereum Co-Founder Vitalik Buterin Revealed:-
Last Cryptocurrency Project Invested By Ethereum Co-Founder Vitalik Buterin Revealed:-
Ethereum (ETH) co-founder Vitalik Buterin and blockchain scaling startup StarkWare are supporting a new initiative in the blockchain space.
Buterin's new startup is Kakarot, an Ethereum Virtual Machine (EVM) on Starknet. Buterin and StarkWare participated in a pre-seed investment round for a startup called Kakarot. The amount of the investment was not disclosed to the public.
According to the developers, Kakarot zkEVM, built on CairoVM, a Turing compatible language, facilitates the creation and launch of EVM-compatible applications by moving developers to an Ethereum-compatible environment.
Looking into Kakarot's future, an ambitious plan to position itself as an EVM in Starknet Tier 2 emerges in the first phase.
Kakarot wrote the following about the investment round on his official Twitter account:
Kakarot Labs is officially established and has closed a pre-seed round with top investors.
Kakarot zkEVM is an Ethereum Virtual Machine (EVM) built on Cairo.
It provides transparency and security by leveraging STARK proofs for provable transactions and blocks.
Thanks to the proofs of validation, Kakarot is able to take over the security of Ethereum L1 while also providing lower costs.”
*Note "not an investment advice"
#Ethereum #ETH #blockchains #Binance
Ethereum (ETH) co-founder Vitalik Buterin and blockchain scaling startup StarkWare are supporting a new initiative in the blockchain space.
Buterin's new startup is Kakarot, an Ethereum Virtual Machine (EVM) on Starknet. Buterin and StarkWare participated in a pre-seed investment round for a startup called Kakarot. The amount of the investment was not disclosed to the public.
According to the developers, Kakarot zkEVM, built on CairoVM, a Turing compatible language, facilitates the creation and launch of EVM-compatible applications by moving developers to an Ethereum-compatible environment.
Looking into Kakarot's future, an ambitious plan to position itself as an EVM in Starknet Tier 2 emerges in the first phase.
Kakarot wrote the following about the investment round on his official Twitter account:
Kakarot Labs is officially established and has closed a pre-seed round with top investors.
Kakarot zkEVM is an Ethereum Virtual Machine (EVM) built on Cairo.
It provides transparency and security by leveraging STARK proofs for provable transactions and blocks.
Thanks to the proofs of validation, Kakarot is able to take over the security of Ethereum L1 while also providing lower costs.”
*Note "not an investment advice"
#Ethereum #ETH #blockchains #Binance
Binance Markets share chopped with the end of zero - fees BTC Trading.
New data reveals that cryptocurrency exchange Binance has experienced a loss in market share since ending zero-free Bitcoin (BTC) trading.
A report by CCData released in mid-May reveals that the exchange’s market share continued to slide for the second consecutive month in April, down to 46.3%. This marks Binance’s lowest market share since October
2022.
#BinanceTournament #binancepizza #BTC #bitcoin
New data reveals that cryptocurrency exchange Binance has experienced a loss in market share since ending zero-free Bitcoin (BTC) trading.
A report by CCData released in mid-May reveals that the exchange’s market share continued to slide for the second consecutive month in April, down to 46.3%. This marks Binance’s lowest market share since October
2022.
#BinanceTournament #binancepizza #BTC #bitcoin
Commodities Agency in U. S. Are giving thoughts on considering crypto
#BinanceTournament #crypto #crypto2023
#BinanceTournament #crypto #crypto2023
LIVECoinDesk
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U.S. Commodities Agency May Change Risk Rules to Consider Crypto
The U.S. Commodity Futures Trading Commission (CFTC) has proposed an overhaul of its rules for risk management, and Commissioner Christy Goldsmith Romero said the changes should insist firms prepare themselves for crypto volatility and the risks from holding customers’ digital assets.
The CFTC issued a proposal Thursday to invite comments on possible changes to the agency’s risk management program, and Romero said in a statement that “technologies like digital assets, artificial intelligence, and cloud services, also have emerged as areas that can carry significant risk.”
“These technological advancements, with their accompanying risks, necessitate the commission revisiting our regulatory oversight, including our risk management requirements,” Goldsmith Romero said. “Integration of digital assets with banks and brokers, and the risks that could be posed, could continue to evolve.”
She also flagged the ongoing issues regarding the industry’s custody practices, saying “brokers may explore holding customer property in the form of stablecoins or other digital assets that could result in unknown and unique risks.”
The CFTC will take public comments for 60 days on its “advance notice of proposed rulemaking” – the preliminary stage of a rule process that would have to be followed by a formal, proposed rule and then a vote on a final version.
Read More: Crypto Lawyers Share Blame for FTX, Other Disasters, CFTC Commissioner Says
The CFTC issued a proposal Thursday to invite comments on possible changes to the agency’s risk management program, and Romero said in a statement that “technologies like digital assets, artificial intelligence, and cloud services, also have emerged as areas that can carry significant risk.”
“These technological advancements, with their accompanying risks, necessitate the commission revisiting our regulatory oversight, including our risk management requirements,” Goldsmith Romero said. “Integration of digital assets with banks and brokers, and the risks that could be posed, could continue to evolve.”
She also flagged the ongoing issues regarding the industry’s custody practices, saying “brokers may explore holding customer property in the form of stablecoins or other digital assets that could result in unknown and unique risks.”
The CFTC will take public comments for 60 days on its “advance notice of proposed rulemaking” – the preliminary stage of a rule process that would have to be followed by a formal, proposed rule and then a vote on a final version.
Read More: Crypto Lawyers Share Blame for FTX, Other Disasters, CFTC Commissioner Says
Ethereum whales Dump All Holdings: Bull market held withheld.
#BRC20 #Ethereum #ETH #binancepizza #googleai
#BRC20 #Ethereum #ETH #binancepizza #googleai
LIVECryptopolitan
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Ethereum Whales Dump All Holdings: a Potential Delay in the Bull Market?
The Ethereum (ETH) market is facing big problems, as new data show that major investors are selling off their holdings. According to data from blockchain analytics, the number of Ethereum accounts with 1,000 or more coins has dropped to its lowest level in 10 months. This low was seen in November 2022, when the number was slightly higher at 6,270.
Understanding Ethereum whales
Ethereum, the second-largest crypto by market capitalization, has attracted the interest of some very affluent people. Ethereum whales are wealthy people with large quantities of Ethereum (ETH), the token used on the Ethereum network. Since they can buy or sell large tokens, their investment decisions can significantly affect market dynamics.
Reports that “Ethereum whales” sold all their shares shocked the crypto community. The market had been expecting a possible bull run, which usually means a significant rise in price and more confidence in the market. But the move by whales to sell their Ethereum holdings has made many people question the timing and effects of their actions.
📉 #Ethereum $ETH Number of Addresses Holding 1k+ Coins just reached a 10-month low of 6,268Previous 10-month low of 6,270 was observed on 02 November 2022View metric:https://t.co/iDNXAbcjH1 pic.twitter.com/SNVGSIJR0j
— glassnode alerts (@glassnodealerts) May 31, 2023
Ethereum has been trading near $1,870 recently, which is quite close to its 50-day Exponential Moving Average (EMA). This technical level can serve as a consolidation point for the second-largest crypto by market cap. Falling trading volume, however, could indicate waning interest among investors, threatening Ethereum’s price stability.
This decreasing trajectory of whale holdings is usually pessimistic, suggesting that large-scale investors might be losing faith in ETH’s short-term prospects. This bearish sign indicates that Ethereum’s price might fall further soon.
This kind of movement in the attitude of essential investors typically has a notable impact on the market. This is because the transactions these investors conduct are large enough to affect the price of ETH. Some investors fear a lack of trust or a slump in the market.
Some of the possible reasons behind the sell-off
There could be several causes for such changes in the behavior of whale investors. It’s possible that some whales are cashing out after the recent price increases in Ethereum, while others are redistributing their funds in response to shifts in the market. Some whales could be selling off their Ether due to worries about the network’s scalability and high transaction costs.
An essential upgrade to ETH is imminent, aiming to enhance scalability, security, and longevity. As the potential risks and benefits of the promotion become more apparent, it could have an effect on investor sentiment. Fewer Ethereum holdings by “whales” may raise red flags for
Ethereum’s implications on the bull market
Concerns have been raised regarding the future of the predicted bull market due to the selling done by “whales” of ETH. The activities of whales are frequently perceived as signs of market sentiment, and the choice of whales to sell their holdings could set off a domino effect, leading to an increase in the amount of pressure being applied to trade and lowering investor confidence.
However, it is essential to keep in mind that the behaviors of whales are only one aspect out of a significant number of others that influence the dynamics of the market. The prevailing mood of the market, technological advancements, and the rate of ETH acceptance are also essential factors. Although the sell-off could have a short-term influence on prices, it does not necessarily eliminate the possibility of a future bull market.
The move by ETH whales to sell all of their holdings has caught the crypto community’s attention. This has fueled speculation and made people worried about the possibility of a bull market. Even though no one knows precisely why they did what they did, looking at the more considerable market factors that affect Ethereum’s path is essential.
There are good reasons to think about market corrections, taking profits, and governmental uncertainty. As the crypto market continues to change, it’s important to stay aware, keep an eye on what’s happening, and be careful when trying to figure out what whales are doing. Only time will tell if this sell-off was just a short-term loss or a sign of an enormous change in the market.
Understanding Ethereum whales
Ethereum, the second-largest crypto by market capitalization, has attracted the interest of some very affluent people. Ethereum whales are wealthy people with large quantities of Ethereum (ETH), the token used on the Ethereum network. Since they can buy or sell large tokens, their investment decisions can significantly affect market dynamics.
Reports that “Ethereum whales” sold all their shares shocked the crypto community. The market had been expecting a possible bull run, which usually means a significant rise in price and more confidence in the market. But the move by whales to sell their Ethereum holdings has made many people question the timing and effects of their actions.
📉 #Ethereum $ETH Number of Addresses Holding 1k+ Coins just reached a 10-month low of 6,268Previous 10-month low of 6,270 was observed on 02 November 2022View metric:https://t.co/iDNXAbcjH1 pic.twitter.com/SNVGSIJR0j
— glassnode alerts (@glassnodealerts) May 31, 2023
Ethereum has been trading near $1,870 recently, which is quite close to its 50-day Exponential Moving Average (EMA). This technical level can serve as a consolidation point for the second-largest crypto by market cap. Falling trading volume, however, could indicate waning interest among investors, threatening Ethereum’s price stability.
This decreasing trajectory of whale holdings is usually pessimistic, suggesting that large-scale investors might be losing faith in ETH’s short-term prospects. This bearish sign indicates that Ethereum’s price might fall further soon.
This kind of movement in the attitude of essential investors typically has a notable impact on the market. This is because the transactions these investors conduct are large enough to affect the price of ETH. Some investors fear a lack of trust or a slump in the market.
Some of the possible reasons behind the sell-off
There could be several causes for such changes in the behavior of whale investors. It’s possible that some whales are cashing out after the recent price increases in Ethereum, while others are redistributing their funds in response to shifts in the market. Some whales could be selling off their Ether due to worries about the network’s scalability and high transaction costs.
An essential upgrade to ETH is imminent, aiming to enhance scalability, security, and longevity. As the potential risks and benefits of the promotion become more apparent, it could have an effect on investor sentiment. Fewer Ethereum holdings by “whales” may raise red flags for
Ethereum’s implications on the bull market
Concerns have been raised regarding the future of the predicted bull market due to the selling done by “whales” of ETH. The activities of whales are frequently perceived as signs of market sentiment, and the choice of whales to sell their holdings could set off a domino effect, leading to an increase in the amount of pressure being applied to trade and lowering investor confidence.
However, it is essential to keep in mind that the behaviors of whales are only one aspect out of a significant number of others that influence the dynamics of the market. The prevailing mood of the market, technological advancements, and the rate of ETH acceptance are also essential factors. Although the sell-off could have a short-term influence on prices, it does not necessarily eliminate the possibility of a future bull market.
The move by ETH whales to sell all of their holdings has caught the crypto community’s attention. This has fueled speculation and made people worried about the possibility of a bull market. Even though no one knows precisely why they did what they did, looking at the more considerable market factors that affect Ethereum’s path is essential.
There are good reasons to think about market corrections, taking profits, and governmental uncertainty. As the crypto market continues to change, it’s important to stay aware, keep an eye on what’s happening, and be careful when trying to figure out what whales are doing. Only time will tell if this sell-off was just a short-term loss or a sign of an enormous change in the market.