[ad_1] FTX, a once-celebrated cryptocurrency exchange that eventually went bankrupt, announced in a recent press release that its amended reorganization plan has received “strong” preliminary support from its creditors. In the release, the company and its affiliated debtors stated that the reorganization plan, which was filed with the United States Bankruptcy Court for the District Court of Delaware, has garnered majority backing from all categories of creditors eligible to vote. This includes customer classes from both FTX US and FTX Dotcom, signaling broad-based approval across different segments of the creditor pool. Do Creditors Still Believe in FTX? According to unofficial voting…
Author: dfrancis36
[ad_1] Top global crypto exchange Binance is rolling out support for a new memecoin that was created out of the messaging platform Telegram community. In a new announcement, Binance says it is listing Dogs (DOGS), a memecoin on the layer-1 blockchain The Open Network (TON). Binance will first list DOGS on August 23rd in the Binance Launchpool, which lets users stake coins to farm new assets. Binance then plans to list the asset for trade on August 26th. Says Binance, “DOGS is designed to leverage Telegram’s vast user base and native meme culture. Centered around a beloved dog mascot originally…
[ad_1] Ethereum, similar to most altcoins, is under significant selling pressure, struggling to shake off the weakness of early August. Even though there were flashes of strength after the climactic sell-off on August 5, prices are still below $2,800. The only positive for now, at least looking at the daily chart, is the impressive bulls’ resilience. Despite the wave of lower lows, buyers have soaked in the deluge of selling pressure, holding prices above the $2,500 mark. The bearish formation, nonetheless, remains, but one analyst thinks the rejection of lower prices below $2,500 is critical. Ethereum Bulls Must Keep Prices…
[ad_1] The world’s largest cryptocurrency exchange, Binance, has announced somewhat of an ambitious plan to hire 1,000 new employees this year, much of which will be driven by efforts to strengthen its compliance efforts. Facing rising regulatory scrutiny, especially from the United States, Binance is going to zero in on compliance roles, seeking at least 20% of those new positions to be filled by professionals with a dedicated focus on compliance. Binance Increases Spending On Compliance The urgency to make these hires stems from Binance’s annual spending on compliance, now over $200 million, which has dramatically surged from just a…
[ad_1] The memecoin FLOKi is leading today’s crypto market with a rally of +12.8% in the last 24 hours, sharing the top spot with Artificial Superintelligence Alliance (FET) which is up +12.2%. The price surge can be several developments and partnerships, most notably involving Binance and the upcoming airdrop of Simon’s Cat (CAT) token. #1 Binance Supports CAT Airdrop To FLOKI Holders Probably the most important factor fueling today’s FLOKI price rally is the announcement that Binance, the leading global crypto exchange, will support the airdrop for Simon’s Cat (CAT). The exchange’s decision to take a snapshot on August 29,…
[ad_1] Hong Kong’s spot Bitcoin ETFs saw their largest inflow of funds in over a month today, highlighting growing Asian interest in Bitcoin investment vehicles.JUST IN: 🇭🇰 Hong Kong #Bitcoin ETFs saw $15 million in inflows today, the highest in a month.Slowly and steadily 🙌 pic.twitter.com/Q83tjbS0ML— Bitcoin Magazine (@BitcoinMagazine) August 22, 2024 The ChinaAMC Bitcoin ETF took in 274 Bitcoin worth around $15 million on August 22nd, its biggest single day of inflows since July 12th. The other two Hong Kong spot Bitcoin ETFs – Bosera Hashkey and Harvest saw no flows today.Hong Kong approved its first three spot Bitcoin…
[ad_1] Bitcoin is seeing an uptick following its recent reclaim above the $60,000 mark in the past day. Amid this price performance, renowned crypto analyst Mags on Elon Musk’s social media platform X shared his latest asset analysis. According to Mags, Bitcoin could be poised for a major rally, driven by factors related to the USDT dominance (USDT.D) and the forming technical chart patterns. Bitcoin On The Verge Of A $72,000 Rally? Mags explained that the inverse correlation between USDT dominance and Bitcoin’s price is a key indicator to watch. USDT dominance refers to the market share of Tether (USDT) in the overall cryptocurrency…
[ad_1] In the latest development in the ongoing FTX saga, federal prosecutors have charged Michelle Bond, the domestic partner of former FTX executive Ryan Salame, with violating campaign finance laws. This comes just a day after Salame made a last-ditch effort to have his conviction vacated or blocked. DOJ Cracks Down On FTX Connections According to the US Attorney’s Office in Manhattan, Bond, who unsuccessfully ran for a congressional seat in New York last year, allegedly used $400,000 from the cryptocurrency exchange FTX, where her partner was an executive, to finance her campaign. The US Department of Justice (DOJ) deemed…
[ad_1] The world of cryptocurrency is often seen as a place where fortunes can be made overnight, and the current buzz around Pepe Unchained (PEPU) and Mpeppe (MPEPE) is a testament to that. As both tokens continue to gain traction in their presale stages, investors are flocking to these new opportunities with hopes of achieving significant returns, possibly even millionaire status. Here’s a closer look at why these two projects are capturing so much attention. Pepe Unchained (PEPU): A New Powerhouse in the Meme Coin Space Pepe Unchained (PEPU) has quickly emerged as one of the most promising meme coins…
[ad_1] Tomorrow, Friday, Jerome Powell will give a speech at the annual meeting of central bankers in Jackson Hole, which could be of utmost importance for Bitcoin and the entire financial market. The speculation is rampant about the potential implications for monetary policy and the broader financial landscape. Notably, the Jackson Hole symposium comes on the heels of yesterday’s historic US Bureau of Labour Statistics US job revision. US job additions were revised lower by 818,000, the largest revision since 2009. This major revision underscores a softening labor market—a crucial factor for monetary policy considerations, just as inflation rates began…