Category: Crypto Flash News

BTC price nears $26K amid warning Bitcoin sell pressure can ‘double’

coiner

Bitcoin (BTC) stayed near two-month lows at the Aug. 18 Wall Street open as markets came to terms with extreme liquidations. “Drying liquidity” costs BTC price key support Data from Cointelegraph Markets Pro and TradingView showed BTC price action tracking sideways after a single daily candle spawned 8% losses. The largest cryptocurrency saw a cascade of liquidations across derivatives markets, with these accounting for an “outsized” majority amid relatively slack spot selling. “In Deribit it is likely that a large account got wiped, considering the immense short liquidation that occured…

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BlockFi opens crypto withdrawals for eligible US users following court order

coiner

Many customers at defunct crypto lending firm BlockFi have reported being able to withdraw funds for the first time in months following an order from a United States bankruptcy court. In an Aug. 17 update on X, BlockFi said it had opened withdrawals for wallets of eligible users in the U.S. in accordance with a bankruptcy court order. The lending firm said the withdrawals did not extend to many wallets controlled by international users, but legal proceedings were ongoing. “As authorized by the Court in the Wallet Order, eligible clients…

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1,005 BTC mined in 2010 on the move

coiner

A Bitcoin (BTC) wallet containing 1,005 BTC mined in 2010 has reawakened, with an anonymous user moving the long dormant coins to new addresses in a number of different transactions. Speaking exclusively to Cointelegraph, Kirill Kretov — a blockchain researcher, developer and cryptocurrency trader — weighed in on the event after initially flagging the movement of the BTC, which was mined just a year after Bitcoin’s inception. Cointelegraph independently verified the details of the wallet using blockchain data from Blockchair. According to the wallet statement, the 1,005 BTC was valued…

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Binance Connect shutting down on August 16

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Binance Connect, the regulated buy-and-sell crypto arm of Binance exchange, will shut down on August 16. Cointelegraph confirmed on August 15 via an email with a Binance spokesperson.  The same day, BNB Chain decentralized exchange Biswap tweeted that Binance “has made a difficult decision to disable Binance Connect on 15 August due to its provider closing the supporting card payments service.” The Binance spokesperson stated:  “At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy.…

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What is PayPal USD, and how does it work?

coiner

By unveiling its stablecoin, PayPal is attempting to claim a share of the growing cryptocurrency market.  The company says that PYUSD will be able to support quick fund transfers for various purposes, such as remittances. PayPal has also indicated that the new cryptocurrency will be compatible with Web3 environments and will eventually be available on Venmo. The move to support Web3 seems to be a strategic one for PayPal as Web3 is widely hailed as the next generation of the internet. With Web3 frameworks being built atop blockchain technology, cryptocurrencies…

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Voyager’s token transfer to Coinbase sparks sell-off suspicions

coiner

Bankrupt cryptocurrency lender Voyager Digital transferred 1,500 Ether (ETH), worth around $2.77 million and an additional 250 billion Shiba Inu (SHIB), worth roughly $2.7 million, to crypto exchange Coinbase on Aug.11, according to Etherscan. The motive behind the transactions has triggered speculation within the broader crypto community. One theory suggests a probable sell-off, given that the transfers have diminished the distressed crypto lender’s wallet holdings to $81.63 million of digital assets. The transactions occurred at one-hour intervals, according to Etherscan. The abrupt movement of the tokens has triggered discussions regarding…

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Bitcoin has bottomed despite ‘astonishing’ BTC price action — Analyst

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Bitcoin (BTC) further ground down volatility into Aug. 12 as “astonishing” BTC price action stayed in place. BTC/USD 1-hour chart. Source: TradingView Bitcoin: “Classic weekend chop” expected Data from Cointelegraph Markets Pro and TradingView followed a flat Bitcoin trading environment as the weekend began. After displaying only muted reactions to the week’s United States macroeconomic data prints, BTC/USD held firm near $29,500 — a key battleground between bulls and bears. “Expecting just another classic weekend chop around the CME close price,” popular trader Daan Crypto Trades wrote in part of…

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SEC punts on ARK 21Shares spot Bitcoin ETF, opens proposal to comments

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The United States Securities and Exchange Commission has delayed a decision on approving or disapproving the spot Bitcoin (BTC) exchange-traded fund (ETF) proposed by ARK Investment Management. In an Aug. 11 notice, the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the latest delay for the regulator determining whether to approve or disapprove of a spot crypto ETF in the United States. ARK originally filed to list the ETF in May, giving the SEC a maximum of…

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Alex Mashinsky faces electronic monitoring while on bail, judge signs off on protective order

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A federal judge has approved a joint request from lawyers for Alex Mashinsky and the United States Department of Justice modifying the former Celsius CEO’s bail conditions to include electronic monitoring. In an Aug. 8 filing in U.S. District Court for the Southern District of New York, Judge Gabriel Gorenstein signed off on a modification to Mashinsky’s $40-million bond ensured by his brokerage account at First Republic Bank and his New York home. Prosecutors and defense lawyers jointly signed a request to have Mashinsky under electronic monitoring and be restricted…

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Aave’s Earning Farm protocol targeted by reentrancy attack — PeckShield

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Blockchain security firm PeckShield revealed fresh vulnerabilities targeting decentralized finance (DeFi) projects on Aug. 9. According to the firm, Aave protocol’s Earning Farm has been compromised by a reentrancy attack, resulting in the theft of at least $287,000 worth of Ether (ETH). #PeckShieldAlert ~$287K #Ethereum pic.twitter.com/TOQ9oSzcGN — PeckShield Inc. (@peckshield) August 9, 2023 A reentrancy attack is like tricking an ATM into giving you money multiple times before it realizes you have none left. This happens by sneaking in and out of a money request, fooling the system into granting…

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