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Seattle-based cryptocurrency exchange Bittrex has received court approval to proceed with its revised bankruptcy plan, aimed at winding down its operations in the United States. On Sep. 30, Judge Brendan Shannon approved the company’s liquidation plan during a hearing in Delaware, aimed at repaying the remaining creditors, according to court filings. “As stated on the record at the hearing, the Court ruled that it would enter a revised Proposed Order, which resolves the SEC’s informal comments.” SEC filing Bittrex initially filed for bankruptcy protection in May, shortly after facing charges from the SEC for operating an unregistered securities exchange. The SEC also accused Bittrex of collaborating with crypto asset issuers to remove statements that could have prompted an investigation into whether these assets should be classified as securities. The exchange chose to shut down its U.S. operations and return assets to customers in the wake of the SEC...

A 20-year- old Florida man who was part of a group that stole close to $1 million in Crypto in a series of SIM swap attacks has been sentenced to 30 months in jail, reports The Register. Between March 2021 and September 2022, Jordan Persad, alongside several co-conspirators, purchased access logs that contained the credentials of victims’ email addresses, hijacked their cell phone numbers, and gained unauthorized access to their online Crypto accounts. In a plea agreement, Persad describes one instance of the group accessing the account of an Arizona resident and stealing $28,000 worth of crypto . “My co-conspirators and I then divided the stolen cryptocurrency amongst ourselves,” Persad said.  Over 1,000 Indian police caught up in $240M crypto scam Read more: Texas city locals warned of Crypto Scam impersonating FBI Persad, who knew some of his co-conspirators by their online names, personally made $475,000 from the scheme. In total, the gang defrauded victims out of...

From accidental deletions to enigmatic heists, lost Bitcoin tales emphasize the paramount importance of stringent security measures in the crypto world. In the shadowy corners of the digital world, where the glow of computer screens illuminates faces with eerie light, there exist tales of lost fortunes. These tales act as a terrifying reminder of the unpredictable nature and volatility present in the cryptocurrency markets and the need to adopt stringent security measures.  1. James Howells and the lost 7,500 BTC A British man named James Howells unintentionally threw away a hard drive in 2013 that contained 7,500 Bitcoin (BTC), currently valued at over $258 million. The hard disk is still buried; he can’t figure out where it is, even after making several desperate attempts to retrieve it from the landfill in New Port, Wales. Howell’s story serves as a reminder that digital gold could be turned into digital dust. James Howells makes a fresh plea to excavate the landfill site where his...

TLDR Coinbase ’s Base Layer 2 network has gone open- source to promote transparency and community contributions. This move simplifies development tasks and fosters collaboration. Optimism (OP), an Ethereum Layer 2 network, is set for a significant token release on October 30, 2023, matching the value of a prior release. NuggetRush (NUGX) is a community-driven blockchain game offering P2E and NFT opportunities. It focuses on building a strong community and real-world value in underserved regions. Coinbase’s Base Layer 2 network recently open-sourced its code repositories to enhance transparency and encourage contributions from the public. Meanwhile, Optimism (OP) is preparing for a substantial token release, generating excitement in the crypto market.  Yet NuggetRush (NUGX) has emerged as a community-driven blockchain game , combining play-to-earn opportunities and NFT innovation. Let’s learn how these developments imp...

A small island nation in the Atlantic Ocean grapples with a cash economy influenced by tourism, remittances and limited resources. Can Bitcoin help? Cointelegraph recently traveled to Cape Verde, West Africa, to explore whether Bitcoin (BTC) could be a tool for progress. In the latest on-the-ground video documentary from Cointelegraph, global reporter Joe Hall investigates the remittances market, cash economies, and the challenges and opportunities faced by small island nations worldwide. Cape Verde, officially the Republic of Cabo Verde, is an island nation in the central Atlantic Ocean. Cape Verde comprises 10 main islands and several smaller islets, sitting 570 kilometers (350 miles) west of Senegal, West Africa. Hall discovers that more Cape Verdeans live abroad than on the country’s islands. Due to its small land mass, it struggles to cultivate and export goods abroad. The islanders of Cape Verde, especially Sal, rely on tourism to stimulate the economy, and relatives living abr...

Kasikornbank, the second largest bank in Thailand in terms of assets, has announced its acquisition of the local crypto exchange platform Satang.  The banking giant revealed in a letter filed with the Stock Exchange of Thailand today that it has acquired 97% of Satang Corporation Co. Ltd, which is the corporate entity of the Satang exchange platform, on Oct. 27. The acquisition is valued at 3.705 billion Thai baht ($103 million) and was executed via a new Kasikornbank subsidiary called Unita Capital, according to the filing.  Crypto Exchange Satang To Be Renamed Following the acquisition, the Thai bank has shared its plans to rename Satang to Orbix Trade Co. Ltd. The filing also revealed that the new company will have three additional subsidiaries. These subsidiaries will be Orbix Custodian, Orbix Invest and Orbix Technology. Kasikornbank ‘s Investment Drive The announcement comes shortly after Kasikornbank launched a $100 million fund in September that is aim...

FET outperformed BTC in the last 24 hours, showing signs of a renewed rally. After breaking out of the supply zone, FET is eyeing a jump to $0.40. With increasing trends around the AO, MACD, and RSI, sellers may find it difficult to invalidate the bullish outlook. Fetch.ai (FET) posted a 13.50% gain in the last 24 hours, cementing the AI token’s position as the cryptocurrency with one of the best performances in all of October. The move follows a month filled with hikes for Bitcoin (BTC) as the number one coin in terms of market cap tries to blast above the $35,000 psychological level. FET’s rally is not only dependent on Bitcoin’s movement. In fact, its latest increase could be linked to a series of positive developments that could happen in the Artificial Intelligence (AI) space over the next few weeks.  Fetch.ai itself also announced the release of DeltaV, an open platform for the new AI economy earlier in the month. The development has impacted gr...

A renowned analyst disclosed that the Bitcoin NUPL will transition to the orange zone within weeks. He cited that Bitcoin market conditions are similar to the 2015 and 2016 cycles. Bitcoin trades at $34,086.31, with a significant 14.70% gain over the past week. In a recent tweet, CryptoCon, a prominent Bitcoin technical analyst, shared valuable insights on the current state of Bitcoin’s price and data trends. According to CryptoCon, Bitcoin is currently encountering formidable price resistance. However, the data Analysis paints a more optimistic picture. In other words, while Bitcoin currently faces strong resistance on the price side, it is not reflected on the data side. #Bitcoin is at stiff resistance on price, but not on data! Every cycle, we see NUPL head straight to o range at this point to form the cycle mid-top This could take place anywhere between 40 – 48k, but one thing's for sure… It's not here. From our exact point on da...

A widely followed crypto analyst is taking another look at the Bitcoin (BTC) charts and breaking down Solana (SOL). Pseudonymous crypto analyst Rekt Capital tells his 362,100 followers on the social media platform X that BTC still may not have found its range high. “BTC  Another way of thinking about this chart… What if the red Range High resistance has not yet been found? Once price rejects strongly, that could cause a deeper retrace over this coming 175-day Pre-Halving period (orange).” Source: Rekt Capital/X Rekt Capital also breaks down the game plan for BTC moving forward. “Accumulate on a deeper retrace in orange Re-Accumulate in red HODL (hold on for dear life) in green.” Source: Rekt Capital/X BTC is worth $33,924 at time of writing, up 14.5% in the last seven days. In the latest edition of the trader’s Altcoin News letter, Rekt Capital says the Ethereum (ETH) competitor Solana is looking to complete its highes...

In the realm of crafting written content, three key elements take center stage: “perplexity,” “burstiness,” and “predictability.” Perplexity serves as the gauge for the intricacy of the text, while burstiness evaluates the diversity of sentence structures. Predictability, on the other hand, measures the ease with which one can anticipate the following sentence. In human-generated content, we often find a dynamic interplay of longer, complex sentences intertwined with shorter ones, resulting in a captivating reading experience. In contrast, AI-generated text frequently exhibits uniformity in structure. Consequently, as you embark on creating the following content, I urge you to infuse it with a healthy dose of perplexity and burstiness while keeping predictability at a minimum. Additionally, please ensure that the content remains in the English language. Now, let’s reimagine the provided text: James Young, Transak’s Chief of Compliance, ...

The NFT artists were also ordered to cover Yuga Labs’ legal fees after determining the trademark infringement constituted an “exceptional case.” A United States district court judge has ordered nonfungible token (NFT) artists Ryder Ripps and Jeremy Cahen to pay Bored Ape Yacht Club creator Yuga Labs a total of $1.57 million in disgorgement and damages, along with legal fees, bringing an end to the long-running “copycat” NFT lawsuit . The Oct. 25 order follows an April 21 partial summary judgement granted in favor of Yuga Labs after the firm claimed that Ripps and Cahen, the defendants, violated copyright laws by making copycat versions of its Bored Ape Yacht Club (BAYC) collectibles. District court Judge John Walter awarded Yuga Labs $1.37 million after concluding the NFT firm was entitled to a disgorgement of the defendants’ profits. An additional $200,000 was awarded in statutory damages relating to cybersquatting violations. Yuga Labs v. Ryder Ripps et al - Notes from the Court...

SEC Chair Gary Gensler’s recent address at the 2023 Securities Enforcement Forum highlighted the agency’s $5 billion enforcement success and provided a critical view on crypto currency, sparking vital discussions in the crypto industry. Chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler addressed the 2023 Securities Enforcement Forum on Oct. 25, highlighting the agency’s successful enforcement actions, but also reigniting the debate on cryptocurrency regulation. Gensler’s strong remarks about the crypto market, stating that most crypto assets likely qualify as securities, have stirred controversy, calling for a critical examination of his stance and the broader implications for the crypto industry. The chairman proudly outlined the SEC’s achievements, stating that the agency filed over 780 enforcement actions and 500 standalone cases in 2023, resulting in $5 billion in judgments and orders, with $930 million distributed to harmed investors. This impressive...

Blockchain analytics firm Elliptic has said there is no evidence that militant group Hamas raised millions of dollars of funds via crypto to help fund its attacks on Israel. “Over the past two weeks, politicians and journalists have portrayed public crypto fundraising as a significant source of funds for Hamas and other terrorist groups, but the data simply does not support this,” the report said. “The amounts raised remain tiny compared to other funding sources.” Setting the record straight on crypto crowdfunding by Hamas https://t.co/1tZrE1C43V — Elliptic (@elliptic) October 25, 2023 Elliptic specifically debunked an Oct. 10 article by the Wall Street Journal that claimed that Hamas militants raised millions in crypto. Its report initially claimed Hamas received $130 million worth of crypto donations between August 2021 and June 2023, but later corrected the report to say the amount raised was “as much as $93 million.” Elliptic said it...

The entire cryptocurrency market underwent a bullish transformation, breaking free from its stagnant price phase and experiencing a significant upswing. Shiba Inu (SHIB), the second-largest meme coin, joined this positive trend. Despite repeated criticisms regarding its price stagnation, the asset decisively put these concerns to rest by surging more than 10% in just the past few hours. Shiba Inu experienced a low trading price of $0.000007355 earlier today, but it managed to rise to a high of $0.0000082. As of the current moment, SHIB is trading at $0.000008106, marking a daily increase of 10.22%. Notably, the meme coin has seen an impressive, nearly 20% surge over the past couple of days. Even with this substantial price rise, the cryptocurrency ’s market capitalization remains at $4.78 billion, solidifying SHIB’s position as the 19th largest digital asset. Source While SHIB aims to kickstart its upward trajectory, a significant resistance barrier lies at $0.0000084 f...

Elliptic’s statement was framed as a rebuttal to recent articles and letters circulating among the media and U.S. lawmakers this month. Blockchain forensic firm Elliptic says there’s “no evidence” that Hamas is receiving a significant volume of cryptocurrency donations to fund its attacks against Israel. “There is no evidence to support the assertion that Hamas has received significant volumes of crypto donations ,” Elliptic said in an Oct. 25 statement. The amounts raised “remain tiny,” the firm added. Elliptic’s statement was framed as a rebuttal to recent articles and letters written by The Wall Street Journal and United States lawmakers, which the firm says had misinterpreted data to make the case that cryptocurrency is widely used to fund Hamas’ "terrorist” activities. As an example, Elliptic pointed to a “prominent” Hamas cryptocurrency fundraising campaign, operated by Gaza Now, a pro-Hamas news outlet, which has only raised $21,000 since the Hamas attack on Israel on O...

Once an esoteric concept whispered about in the darkest corners of the internet, crypto currency has leapt from the shadows to spark a financial revolution. It’s a brave new world from the days of Bitcoin’s emergence to the thriving digital currency ecosystem you see today.  However, the tendrils of change extend beyond mere buying and selling; they’re weaving through the very fabric of our society, redefining how industries operate – notably, the online casino realm. The Meteoric Rise of Virtual Coins Let’s rewind to 2009: the world economy was tangled in recession and a thread dangled trust in financial institutions. Enter Bitcoin, stage left. An enigmatic figure known only as Satoshi Nakamoto launched this upstart digital currency, free from government chains and transparent as glass. It was the rebel yell in a silent financial amphitheatre. Flash forward to today and Bitcoin is no longer a solo act. It’s the headli...

Currently, a 74% increase takes Bitcoin to over $59,000 and that doesn’t factor in “second-order effects,” says Galaxy Digital. Bitcoin’s (BTC) price will increase 74.1% in the first year after spot Bitcoin exchange-traded funds (ETFs) are launch ed in the United States, according to estimates from crypto investment firm Galaxy Digital. In an Oct. 24 blog post, Galaxy Digital research associate Charles Yu estimated the total addressable market size for Bitcoin ETFs would be $14.4 trillion in the first year after launch . He obtained the 74% figure by assessing the potential price impact of fund inflows to Bitcoin ETF products using gold ETFs as a baseline. According to Yu’s estimates, Bitcoin’s price would increase 6.2% in the first month after an ETF launch before steadily trending downward to a 3.7% monthly increase by month 12. Spot Bitcoin ETF estimated one-year inflows by month and Bitcoin price impact. Source: Galaxy Digital Research Yu used Bitcoin price data from Sept. 30, ...

Bitcoin breaks a 13-month high, reaching nearly $35,000 with a 105% gain YTD. BTC’s 24-hour trading volume surges by 194.67% to $48.5 billion. BlackRock’s Bitcoin ETF listing on Nasdaq sparks optimism for SEC approval. In the last 24 hours, Bitcoin broke a 13-month high as it exchanged hands at nearly $35,000. According to data from MarketWatch, Bitcoin has gained over $17,944 on a year-to-date (YTD) scale. In terms of percentage, the figure implies Bitcoin has gained over 108% since January this year. Meanwhile, Bitcoin has seen approximately 70% growth since last October. A screenshot of the Bitcoin YTD chart. Source: Google BTC highlight. According to data from CoinMarketCap, Bitcoin saw over 194.67% increase in its 24-hour trading volume. Specifically, market participants bought and sold over $48.5 billion of Bitcoin, putting its 24-hour gain at above 11.44% Notably, this recent uptick in the price of Bitcoin follows increased speculation abou...