On Thursday, October 12th, 2023, ByBit exchange launched Wall Street Memes ($WSM) perpetual futures trading, causing a surge in its price. This hot new meme coin experienced a staggering 19% increase on the ByBit $WSM/USDT perps market, reaching $0.0394. While profit-taking had previously brought the price down, it still boasts an attractive market capitalization of
The ongoing trial against FTX co-founder Sam Bankman-Fried has taken an intriguing turn with the testimony of Zac Prince, the CEO of defunct crypto lender BlockFi. Prince’s appearance in a Manhattan federal courtroom shed light on the intricate relationship between BlockFi, FTX, and Alameda Research. his testimony provided valuable insights into BlockFi’s exposure to Alameda
A trader on Aave, a decentralized liquidity protocol operating on multiple platforms, has recently started selling wrapped Bitcoin (WBTC) to repay outstanding debt. This move comes as the trader faces the risk of collateral liquidation due to a decreasing health factor. In this article, we will delve into the details of the trader’s situation and
A former CEO of an investment firm has recently confessed to participating in a deceptive trading practice known as “cherry-picking.” This scheme involved manipulating the allocation of profitable and unprofitable trades to benefit the CEO’s personal accounts while causing losses to investors. The founder and previous CEO of Systematic Alpha Management LLC (SAM), Peter Kambolin,
In a significant turn of events, the U.S. Securities and Exchange Commission (SEC) has chosen not to challenge a recent court ruling that deemed its rejection of Grayscale Investments’ application to create a spot bitcoin exchange-traded fund (ETF) unjust. In August, the District of Columbia Court of Appeals in Washington declared the SEC’s refusal invalid,
Launchpad XYZ, a promising startup focused on AI trading in the cryptocurrency space, has been garnering attention from crypto whales during its recent presale. With an impressive presale funding of over $1.88 million, questions have arisen regarding what these large-scale investors may know about the platform’s future potential. As the company gears up for its
Cryptocurrency investment firm Paradigm recently filed an amicus brief in support of Binance’s motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against them. This legal document aims to ensure that the SEC’s regulatory actions do not hinder innovation in the crypto industry and disrupt markets beyond the regulator’s jurisdiction. In this article,
In a shocking revelation, Caroline Ellison, co-founder of FTX-linked hedge fund Alameda Research, testified on October 11 that her colleague and disgraced FTX founder Sam Bankman-Fried had allegedly paid $150 million in bribes to Chinese government officials in 2021. This amount was higher than the initially disclosed $40 million. Ellison further explained that two years
Ether (ETH) price experienced a significant decline between Oct. 6 and Oct. 12, reaching a seven-month low at $1,520. Despite a slight rebound to $1,550 on Oct. 13, it is evident that investor confidence and interest in Ethereum have been waning. This downtrend is supported by various metrics, and it raises concerns about the future
Magic Eden, a leading multichain NFT platform, has recently unveiled its newest feature, the LayerZero Bridge & Swap. This groundbreaking tool facilitates seamless token swapping across different blockchains. The LayerZero protocol serves as a cross-chain communication system, enabling secure and trustless interactions among multiple blockchain networks. By eliminating the need for centralized intermediaries like bridges
