Which Cryptocurrencies Were Involved? What Happened? Guarding Your Investments Lessons From A Cryptocurrency Scam Victim Who Lost £300,000 Adobe Stock.

Genesis wants to use the shares’ initial value in claims and is not releasing additional collateral transferred by DCG, the suit claims.

Check out all the important news over the past day in U.Today’s latest digest!

The popular meme asset Dogecoin (DOGE) is surging this week as billionaire Elon Musk reportedly aims to launch financial services on the social media platform X by the end of next year. According to a new report by The Verge, the business magnate says he expects X’s comprehensive financial features to roll out by the […]

One of the biggest banks in the US reportedly refused to reimburse a customer despite security footage showing a criminal stealing cash from an ATM. Then, the media got involved. Berkeley resident and Bank of America customer Kyle Fischer says he recently noticed money had mysteriously vanished from his account, and he promptly alerted the […]

[PRESS RELEASE – Dubai, United Arab Emirates, October 28th, 2023] Zeebu, the pioneering Web3 Neobank for Telecoms, is elated to share a development with its loyal community. Zeebu is thrilled to announce its forthcoming listing on BitForex, a prominent global cryptocurrency exchange, This development marks a significant stride for Zeebu ($ZBU) community and the Telecom […]

Monetary Debasement Debasement refers to the action or process of reducing the quality or value of something. In relation to money, it traditionally refers to the practice of reducing the precious metal content in coins while keeping their nominal value the same, thereby diluting the coin’s intrinsic worth. In a modern context, debasement has evolved […]

The price of Bitcoin stands firm around the critical area of $34,000, hinting at further bullish potential. However, market analysts wonder if enough clues point to the upside or if BTC will return to $20,000. As of this writing, BTC trades at $34,150 with sideways movement in the last 24 hours. The cryptocurrency recorded a […]

Backed, a platform that tokenizes real-world assets, has integrated Chainlink’s Proof of Reserve (PoR) technology to enhance the security and transparency of its smart contracts. This integration allows users to verify in real time that the assets backing Backed’s tokens are fully collateralized and audited. Backed is a Swiss-based company that specializes in creating blockchain-based […]

According to CCData, the value of Bitcoin surged by 7.56%, reaching a peak of $35,000, driven by a wave of interest and speculation. In October, six ETFs based on Ethereum futures were introduced to the market, opening up new opportunities for investors. Shortly after the introduction of these ETFs, Bitcoin saw a price increase, surging […]

Kraken has appointed Bivu Das as the Managing Director for the UK. He brings nearly two decades of experience in commercial enterprise and fintech strategy development to his new role. His appointment happens when the cryptocurrency exchange is expanding its services in the region. Before joining Kraken, Das co-founded a crypto startup that focused on […]

Sam Bankman-Fried, founder of collapsed crypto exchange FTX, took the stand without the jury present to preview his potential defense.

According to customer emails, the changes will go into effect starting Nov. 30.

During his testimony on Friday, Sam Bankman-Fried told the court that he intended to sell FTX to cryptocurrency exchange Binance when the firm was in its infancy. As Bankman-Fried worked with FTX co-founder Gary Wang in 2019 to construct the now-bankrupt exchange in Hong Kong, he said he already knew he wanted it to specialize […]

People and businesses are withdrawing billions of dollars in deposits from US banks as a new survey details concern on the state of the financial sector. The latest numbers from the Federal Reserve Economic Data (FRED) system show that deposits in all US commercial banks suffered a $100 billion decline in three weeks – from […]

Crypto analyst Justin Bennett is issuing a warning on Bitcoin (BTC) as the flagship crypto asset making double-digit gains over the past week. Bennett tells his 110,800 followers on the social media platform X that Bitcoin could correct by 54% from the current level based on the historical correlation between BTC and stocks. According to […]

Shiba Inu (SHIB) price cools off despite burn rate staying elevated

October witnessed significant advancements in the industry owing to the launch of six ETH Futures ETFs, offering investors a chance to delve into Ether futures. Bitcoin responded positively to the developments. Further gains were fueled by speculations about BlackRock’s application approval of a spot BTC ETF in the United States. As a result, the total […]

Commodity money is a form of money that derives an intrinsic value from its underlying commodity and the supply and demand dynamics. Gold and silver have been accepted as commodity money for centuries because of their scarcity and desirability. Commodity money has some inherent limitations, such as the challenge of transportation and storage of larger […]

Gareth Soloway, an analyst and Chief Market Strategist at InTheMoneyStocks.com and President of VerifiedInvesting.com, has recently dived deep into the dynamics and offers a glimpse into Bitcoin and its future. Bitcoin’s rally, which boasts a 30% uptick in the past fortnight, has reignited the bullish sentiments within the crypto community. This performance has been linked […]

The SEC commissioner said the regulator’s actions “forced a group of entrepreneurs to abandon what they built,” with LBRY announcing in October it planned to wind down operations.

Bitfinex has recently come under scrutiny. The Financial Conduct Authority (FCA) raised concerns about the cryptocurrency exchange today (Friday), warning investors of potential risks associated with it. The regulator stated that Bitfinex may be promoting financial services or products without its permission. Finance Magnates contacted Bitfinex for comments. However, at the time of this publication, […]

… cryptocurrency firms — in response to the attack on Israel. Adeyemo said the “vast majority” of financial institutions want to help root out …

Gemini Trust Co. the cryptocurrency platform founded by the Winklevoss twins, has filed a lawsuit against Genesis Global Holdco LLC, a bankrupt cryptocurrency lending company. The dispute revolves around the ownership of a considerable amount of shares in the Grayscale Bitcoin Trust, which is estimated to be worth almost $1.6 billion. The dispute arose from […]

A prominent market intelligence platform says that a handful of altcoins should continue to rally as traders continue to focus on Bitcoin (BTC) and Ethereum (ETH). In a new thread on the social media platform X, crypto analytics firm Santiment says that nine altcoins – including Polygon (MATIC), Decentraland (MANA), Fantom (FTM), and Pepe (PEPE) […]

The Wall Street Journal (WSJ) has partially corrected an article which mischaracterized the extent to which Hamas and other militant groups have been funding its terrorism activities with cryptocurrencies. The Oct. 10 article — titled “Hamas Militants Behind Israel Attack Raised Millions in Crypto” — cited blockchain forensics firm Elliptic to say Palestinian Islamic Jihad […]

Solana (SOL), Ethereum (ETH), Chainlink (LINK), Polygon (MATIC), and other crypto assets have been transferred by FTX

Privacy is a complicated subject. It’s not always a simple binary thing, private or not private, seen or unseen. Seen by whom? Private from whom? Private to what degree? If you are walking down the street with a mask on your face no one can see your face, so that means you are private, right? […]

Changpeng Zhao, widely known as CZ and the founder of Binance, one of the largest cryptocurrency exchanges, has suffered a significant blow to his fortune. According to a recent Bloomberg report, CZ’s wealth plummeted by $12 billion due to the ongoing slump in crypto-trading activities.  Per the report, this decline was primarily attributed to a […]

Elliptic, the firm which Wall Street Journal sourced the data from, said it was “pleased” to see the news outlet acknowledge its mistakes.

In response to the widespread interest and concern generated by its proposed crypto reporting regulations, the Internal Revenue Service (IRS) has decided to extend the comment period by an additional two weeks. This move grants stakeholders more time to express their opinions, with the new deadline of November 13, 2023. Previously, stakeholders were required to […]

Sam Bankman-Fried (SBF) faced the jury yesterday (Friday) and acknowledged the widespread fallout when the cryptocurrency exchange FTX, which he co-founded, crumbled. BBC reported that the 31-year-old entrepreneur, accused of deceiving investors and embezzling customer funds, opened up about his actions and decisions that led to this point. “A lot of people got hurt, customers, […]