DeFi News Daily Official TheBitTimes.com

Westport, Connecticut police assisted a crypto investor in reclaiming over $3 million in Bitcoin (BTC) after they fell victim to a high-profile financial scam. Westport police thwart BTC scam  In May, the Westport police reportedly initiated an investigation following a report from a victim, who had been persuaded to transfer funds from their retirement account to a Kraken crypto exchange wallet address January, as stated by Lt. Eric Woods in a news release.  Between January and March, the victim discovered that over $3 million worth of Bitcoin had been withdrawn and moved to cryptocurrency wallets beyond their control. Collaborating with the Connecticut State Police, Westport detectives diligently traced the transactions and successfully froze all accounts linked to the scam, as confirmed by Woods. As a result of these efforts, authorities successfully recovered over  $3 million, which has now been returned to the victim. Woods also clarified that the frozen accounts were trace

Bitwise stated that this move will enable investors to access CME Ether futures within the widely embraced and regulated ETF framework. Bitwise Asset Management has revised its spot Bitcoin Exchange-Traded Fund (ETF) application and has confirmed that trading for two Ethereum-focused ETFs will commence on October 2, 2023. This decision comes after having amended its application for the spot Bitcoin ETF. The firm has revealed that trading is scheduled to commence for the Bitwise Ethereum Strategy ETF ($AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF ($BTOP). Bitwise stated that this move will enable investors to access CME Ether futures within the widely embraced and regulated ETF framework, marking a significant milestone. According to the firm's Chief Investment Officer, Matt Hougan, in a statement, he remarked, "Ethereum offers a more extensive portfolio opportunity compared to Bitcoin. Some investors view Ethereum as an alternative, while others perceive

Chancer nears presale sellout in stage 3 as amounts raised surpass $2.39 million. Investors are attracted to Chancer’s decentralised betting feature Chancer could rise by up to 10x in the future as P2P betting grows Betting has, for a long time, been centralised. Bookmakers control the platforms and decide betting rules and odds. However, this is changing with blockchain, with the idea of giving betting control to wagers. Chancer endeavours to become the world’s first decentralised platform for bettors. Users can set betting events and create rules and odds for successful bets. The decentralisation has attracted investors, who have accumulated over $2.39 million tokens in  presale . How does Chancer work? Chancer covers two betting mechanisms: conventional betting and social betting. Conventional betting is for known events like football, basketball, marathons, etc. It is akin to traditional betting but with a touch of blockchain. Social betting has

The European Commission has opened a €800,000 tender for research based on the crypto environmental impact. The tender will close on Nov. 10 and successful bidders will conduct the study for 13 months. The goal is to develop potential standards following the EU policies to tackle the impact of crypto on environmental issues and climate change. The European Commission is concerned about the negative impact that crypto mining could have related to excessive power consumption. You might also like: European Commission could raise $2.5bn in crypto taxes The tender document states: “The increasing demand for crypto -assets and expansion of crypto -mining, including within the EU, could undermine EU’s efforts to achieve its climate and sustainability goals, in line with the Paris Agreement. The action aims at enhancing the EU capacity to assess and mitigate the impact of crypto -mining and develop specific sustainability standards.” The research will aim to create a met

Bitcoin stubbornly refuses to give up its latest gains as BTC price seeks to flip $27,000 to support into September's last Wall Street open. Bitcoin (BTC) bounced around $27,000 on Sep. 29 as a challenge to month-to-date highs dragged BTC price action upward. BTC/USD 1-hour chart. Source: TradingView BTC price maintains overnight strength Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency attempting to hold gains after a classic “ short squeeze.” The day prior offered a trip past the $27,000 mark, with Bitcoin bulls nonetheless unable to seal a fresh peak for September. Topping out at $27,300 on Bitstamp, BTC price strength then returned to consolidate, still up 4% versus the week’s low at the time of writing. Analyzing the situation on low timeframes (LTFs), popular trader Skew said that the upside had come courtesy of derivatives markets, with spot traders selling at the highs. “LTF stuff but pretty clear spot absorption around the high so $

The innovative AI assistant, known as Meta AI , is set to launch initially on September 27th, targeting a select group of users in the United States. Meta’s CEO, Mark Zuckerberg, introduced the company’s latest creation: a cutting-edge artificial intelligence (AI) assistant named Meta AI. This represents Meta’s response to OpenAI’s ChatGPT, with plans for integration into Instagram, Facebook, WhatsApp, and, in the future, Meta’s mixed reality devices. Speaking at the Meta Connect event on September 27th, Zuckerberg elucidated that Meta AI harnesses the power of the company’s extensive language model, Llama 2, and has been developed in collaboration with Microsoft Bing, enabling users to access real-time internet information. “ Meta AI serves as your essential assistant, engaging in conversation much like a human.” Highlighting Meta AI’s primary differentiator from its rival, ChatGPT, Zuckerberg articulated that Meta’s overarching strategy entails tailoring distinct AI products fo

The Bank of International Settlements (BIS) has concluded its CBDC pilot and said that decentralized finance (DeFi) elements could bring about a “new generation” of financial market infrastructure. The CBDC pilot called Project Mariana concluded Thursday, according to a new report. Indeed, the project had seen the BIS test cross-border trading of CBDCs across varying financial institutions. Moreover, the project utilized innovative technology that had been obtained from the DeFi sector. Subsequently, it has led to the organization’s perspective on its future importance. Source: Wall Street Journal Also Read: BIS Calls for Robust Legal Framework to Enable CBDC Adoption BIS CBDC Pilot Ends As They Note DeFi Potential The development of a Central Bank Digital Currency ( CBDC ) has long been held within the digital asset industry. These projects are seeking to use both digital assets with fiat currency. Specifically, they look to use both through the utilization of Central ba

Coinbase has received approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures trading services for non-U.S. clients. The exchange had previously received a class F license from the BMA to allow non-US institutions to trade perpetual futures. However, the exchange has received additional regulatory approval to extend the service to retail users. The derivative market represented 75% of the global crypto trading volume. This shows the demand among traders for derivatives. Moreover, there are only a few platforms that offer such services. Also Read: Coinbase Completes Registration with Central Bank of Spain According to the official announcement, eligible customers will be able to access regulated perpetual futures contracts on Coinbase Advanced in the coming weeks. Additionally, the firm stated that they “are dedicated to partnering with high-bar global regulators to build a crypto regulatory framework.” Coinbase’s US troubles Source – The Block The fir

In a remarkable departure from the digital realm of cryptocurrencies, Pudgy Penguins, a standout NFT project during the bear market, is set to introduce 26 unique toys into the inventory of 2,000 Walmart stores. This audacious move has sparked an immediate surge in the floor price of the Pudgy Penguins collection, soaring by over 11% to reach 5.2 ETH, all thanks to the announcement that the world’s largest retailer, with a colossal $600 billion revenue in 2022, is endorsing these crypto-inspired toys. As a consequence of this groundbreaking partnership, daily trading volume experienced an astonishing spike, surging by over 270% to a staggering 849 ETH, equivalent to $1.3 million, firmly positioning it as the second-highest in that time frame, just behind the renowned Bored Ape Yacht Club, according to CoinGecko. Walmart’s decision to champion a crypto-native project marks a much-needed revival for the NFT space, grappling with a substantial downturn following an extravagant bull mark

According to Foundry's data pool, Texas accounts for 28.5% of all Bitcoin hash rate in the United States. The U.S. state of Texas accounts for over 28% of all Bitcoin (BTC) hashing power in the United States, according to the latest Hashrate Map by crypto mining service provider Foundry USA.  The newly updated map shows Texas with 28.5% of all Bitcoin hash rate in the country, followed by the states of Georgia claiming 9.64% hash rate, New York with 8.75%, and New Hampshire accounting for 5.33%. Bitcoin's hash rate represents how fast a mining machine operates when trying to calculate a valid block hash. A snapshot of Foundry's pool in December 2021 shows a different picture. At the time, Texas controlled 8.43% of the country's hash rate, Georgia had 34.17%. Meanwhile, Kentucky stood at 12.40% and New York held 9.53% of the U.S. hash rate. Compared to 2021, more U.S. states are mining Bitcoin this year. Overall, by July 2023, the Bitcoin global hash rate had reached

Artificial Intelligence (AI) tools such as ChatGPT, developed by OpenAI, can be valuable allies to investors who are looking to gather and collate complex pieces of information quickly, that can help in due diligence and decision-making. In this context, Finbold asked ChatGPT-4 on September 27 to “recommend three cryptocurrencies investors can buy and hold forever.” From which the most efficient software version of OpenAI’s products pointed to Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA). Notably, GPT-4’s top three digital assets for the “buy and hold” strategy are among the seven largest by market capitalization, according to CoinMarketCap ’s rank. Which could have been taken into consideration by the data-based machine for choosing these assets ChatGPT justifies its picks on BTC, ETH, and ADA “It’s important to note that the crypto currency market is highly volatile and speculative. While some investors may adopt a long-term “buy and hold” strategy for crypto currencies, t

Leading U.S. crypto exchange Kraken recently secured fresh regulatory approvals to grow its presence across Europe. Kraken received an E-Money Institution (EMI) license from the Central Bank of Ireland. This enables its Irish subsidiary to boost Euro fiat services in partnership with European banks. Kraken can now tap into all 27 EU member states thanks to passport rights under the EMI license. Also read: Chase Bank to Ban crypto -Related Payments For UK Customers Kraken secures VASP in Spain Additionally, Kraken is registered as a Virtual Asset Service Provider (VASP) in Spain. This allows the exchange to offer cryptocurrency trading and custodial services to Spanish citizens, supplementing recent VASP registrations in Ireland and Italy. Curtis Ting, Kraken’s Vice President of Global Operations, said, “Today’s announcement marks another important milestone in our European expansion strategy.” “Our market-leading position in liquidity and volume for EUR crypto pa

Binance Belgium reopens registrations for Belgian residents, restoring access to its services. Binance collaborates with Mitsubishi UFJ Trust Bank on a stablecoin project for the Japanese crypto market. The stablecoin project will utilize the Progmat Coin platform and adhere to Japanese regulations. Binance Belgium, the sister arm of the largest crypto trading platform, Binance, has announced the reopening of registrations for residents of Belgium on its platform. The exchange proclaimed the development in a recent post on X (formerly Twitter). Great news for our Belgian community We've now reopened registrations and access to #Binance products and services in Belgium. https://t.co/IActiqYMjm — Binance (@binance) September 25, 2023 Alongside reopening registration for the Belgian crypto community, the exchange noted the restoration of access to various Binance products and services for Belgian users who have accepted the updated Terms of Use. In

The notorious Lazarus Group, a state-backed North Korean cybercrime entity, holds $47 million in crypto currencies , primarily Bitcoin (BTC).  That’s according to data collected by 21.co subsidary Dune Analytics, which shows the group’s wallets contain approximately $42.5 million in BTC, $1.9 million in Ether (ETH), $1.1 million in Binance Coin (BNB), and an additional $640,000 in stablecoins, with Binance USD (BUSD) dominant. But the amount marks a significant decrease from the $86 million it held shortly after its hack of Stake.com. The Dune dashboard tracks 295 wallets associated with the hacking group that have been identified by the Federal Bureau of Investigation (FBI) and the Office of Foreign Assets Control (OFAC), the report said. Despite accumulating a substantial amount of cryptocurrency, the Lazarus Group tends to avoid using privacy-focused coins such as Monero, Dash, or Zcash. These crypto currencies are known for providing enhanced anonymity and making it challenging

Chancer welcomes decentralised betting, allowing more user participation and flexibility. Chancer price has risen to $0.013 as presale continues amid strong demand. Analysts expect the value of the Chancer token price to rise up to 50 times on betting trends. The price of the Chancer token is now $0.012, a rise from the initial $0.010 and previous $0.011. The price will rise to $0.013 in the next stage presale . While the price changes are fixed in tokenomics, there are visible signs of increase d buying. A total of over $2.217 million has been raised in presale as investors make bullish bets. According to the project’s roadmap, the Chancer token will be listed on Uniswap and other CEXs in Q3 2023. Analysts believe the token could witness strong increase s after listing owing to the project’s use case. The token is available for purchase via the  Chancer website . What is Chancer? Chancer is a decentralised betting platform. The platform aims to

Shiba Inu is currently trading at $0.000007 levels and is struggling to delete its fifth zero despite Shibarium’s release. The token failed to rally this year, as the hype of the layer-2 network’s launch quickly fizzled out. It’s been close to six months now since it traded with five ‘zeroes’ and is testing the patience of investors. SHIB has nearly 1.3 million investors, and the majority of them are underwater due to the price dip. Also Read: From $1,000 to $1 Million, How Shiba Inu Made People Millionaires Shiba Inu to Spike 1,500%, Delete 2 Zeroes, & Reach $0.0001: Claims Forecast Source: dailyhodl.com Leading on-chain metrics and price prediction firm Telegaon has painted a rosy picture for Shiba Inu. According to the price prediction, Shiba Inu could delete two ‘zeroes’ and hit $0.0001 in mid-2027. The forecast claims that SHIB will trade at an average price of $0.000153 in 2027 after touching a high of $0.000198 in the same year. Also Read: Shiba Inu: SHIB Could E

Ethereum network fees are currently at their lowest point in 2023. The Ethereum (ETH) blockchain witnessed a significant reduction in network fees, with users paying a mere $1.15 per transaction, Santiment data shows. The current decline in Ethereum’s transaction fees carries with it a historical pattern that bodes well for the network’s utility.  As transaction fees drop, Ethereum becomes a cheaper choice for users to interact with its versatile platform. This development holds the promise of boosting Ethereum’s overall market value. Lately, there has been a notable rise in the level of on -chain transactions within the Ethereum network . The figure, totaling 1,089,893 user active wallets (UAW), marks the second-highest activity level in Ethereum’s history. Blockchain analysts at Santiment noted that such spikes in on -chain activity could be a signal for potential price rebounds. You might also like: Ethereum unveils new testnet called ‘Holešky’ This increased activi

As per DeFi Llama data, Solana’s TVL has decreased by 9.64% over the past month to sit at $358.96 million, while Base’s TVL has surged to $397.32 million. The total value locked (TVL) on Coinbase’s layer 2 network Base has surged to $397.32 million in roughly a month and a half since launching in August. That figure now places Base ahead of the Solana network in terms of TVL, which has $358.96 million at the time of writing. The past 30 days have been significant for Base, with data from DeFi Llama showing that the network’s TVL increased by a whopping 97.21% over the past month. In comparison, Solana’s TVL has decreased by 9.64% over that same time frame. Top 10 chains in terms of TVL. Source: DeFi Llama Two Base-native projects account for the largest shares of the TVL on the network. Decentralized exchange (DEX) Aerodrome Finance takes the top spot with a TVL of $97.83 million, while decentralized social media (DeSo) app Friend.tech ranks second with a TVL of $36.53 million. Ae

Bankrupt crypto exchange FTX filed a lawsuit against former employees of Hong Kong-based affiliate Salameda to recover $157 million it alleges was syphoned from the company’s coffers in the three months before it collapsed. FTX’s court filing, submitted on Sept. 21, alleges that Kevin Nguyen, Darren Wong, Michael and Matthew Burgess, and their mother, Lesley Burgess, fraudulently withdrew the funds via preferential transfers from accounts registered with the crypto exchange. It said the defendants rushed to withdraw assets and use their connections inside FTX to ensure that their withdrawal requests would be prioritized, thus disadvantaging the exchange’s other customers. The withdrawals were made during the 90 days before November 11 last year, the day FTX filed for bankruptcy. #FTX sues ex-employees of a Hong Kong affiliate, Salameda, to recover $157.3M. Controlled by SBF, the entity fraudulently withdrew assets days before the bankruptcy.🤯 — Moby Media (@mobymedia) September