DeFi News Daily Official TheBitTimes.com

Despite the hype around “Uptober”, the crypto prices have continued their bearish chop, underperforming the S&P500. The global crypto market cap is slightly in the red over the past day.  Bitcoin has corrected 0.5% over the last 24 hours - falling back to $27,500 mark and hitting an intraday low of $27,325 before a bounce.  The strengthening dollar, along with rising oil prices have concerned investors, who believe that the Federal Reserve will continue with its hawkish monetary policy. Furthermore, the Israel-Palestine conflict has added more uncertainties to the short-term prospects of crypto prices.  Popular trader @CryptoTony__ , who has over 350k followers on X, believes that Bitcoin will see a depreciation to $20k before any further upside.  3 New Cryptocurrency Tokens To Buy While Crypto Prices Are Bearish With Bitcoin and major altcoins displaying bearish tendencies, new presale tokens - particularly those offering high staking rew...

Blockchain technology ensures fair gaming through the use of Random Number Generators. The global online gambling market size was valued at $63.53bn in 2022. The online gambling market is projected to reach $95.05bn in 2023 according to data by Statista. The world of online gaming, often referred to as iGaming, has undergone a remarkable evolution thanks to the integration of blockchain technology. Blockchain technology, hailed for its decentralized nature, has revolutionized online transactions in the iGaming sector. This transformation begins with the fundamental shift from traditional payment methods to cryptocurrencies, which has made gaming more inclusive than ever before. Secure online transactions One of the primary strengths of blockchain technology is its unparalleled security. Financial transactions conducted on the blockchain are virtually impervious to hacking, interception, or bypassing by malicious actors. In the world of iGaming, w...

In an Oct. 8 post on X, Certik, a security-focused ranking platform, reported an exit scam on zkFlex Finance after charts show a 100% in the project’s value. Alongside this announcement, the project’s social media accounts and websites have also been removed. Deleted accounts #CertiKSkynetAlert We are seeing an exit scam on @zkFlexFinance ETH:0x54855D3133669B7EF54A2c962F5f63fdb44bBaE9 Which has dropped 100% The project's socials and sites have been deleted. 0x84f90 has dumped tokens for a profit of ~$56k Stay vigilant!https://t.co/m7xQb6DQO6 — CertiK Alert (@CertiKAlert) October 8, 2023 As part of the announcement, two addresses were noted as being part of the alleged exist scam, including address 0x84f90, which had sold tokens, making an approximate profit of $56,000.  X Profile | Source: X The project’s accounts, including its X profile, website and medium account, have since been removed. You might also like: The darknet’...

South Korea’s digital asset market has seen remarkable growth in the first half of 2023, with its total market capitalization hitting $21.1 billion. The Financial Services Commission (FSC) of South Korea revealed that the country’s crypto market cap witnessed a 46% increase compared to the previous half-year term, local media outlets reported. The global crypto market has also experienced significant growth during the same period, with its market cap surging by 53% to reach $114 million (154 trillion won). Bitcoin (BTC), the leading crypto currency, saw its price rise by a robust 81%. South Korean crypto operators see 82% profit surge In addition to the sharp rise in market capitalization, South Korea’s virtual marketplace operators disclosed a remarkable 82% boost in operating profits, amounting to $168 million in the year’s initial half. Furthermore, deposits within these crypto currency exchanges experienced an 11% increase, reaching approximately $3 bi...

Snapchat finds itself in the crosshairs of the UK’s data privacy watchdog over its AI chatbot, “My AI,” which has raised concerns about its failure to adequately address privacy risks. The social media behemoth, Snapchat, is now facing a stern warning from the United Kingdom’s data regulatory body regarding its recent foray into artificial intelligence (AI). Specifically, the warning pertains to “My AI,” a chatbot developed by Snapchat, as disclosed in an official update from the regulatory authority. On October 6th, the Information Commissioner’s Office (ICO) in the UK issued a preliminary notice to Snap Inc. and its subsidiary, Snap Group, which collectively oversee Snapchat ’s operations. This notice centers on their alleged negligence in conducting a thorough assessment of the privacy risks associated with “My AI.” This preliminary notice stems from an ongoing investigation conducted by the ICO, which has highlighted t...

The individual behind the 2022 attack on FTX has altered their strategy for laundering their stolen Ethereum into Bitcoin. On-chain analyst Lookonchain noticed on Oct. 6 that the person behind last year’s FTX hack had stopped using THORChain for moving their stolen assets and had begun to exploit the Threshold Network instead. Lookonchain’s data indicated that the attacker converted over 3,000 Ether (ETH), valued at $4.9 million, into tBTC via the Threshold network. Since then, per Lookonchain, the attacker has successfully converted about 75,636 ETH, valued at $124 million, into Bitcoin, while another 109,485 ETH, valued at approximately $180 million, remains in their wallet. After @THORSwap suspended swaps, FTX Exploiter started swapping $ETH for $tBTC and cross-chained to the Bitcoin network through @TheTNetwork. So far, FTX Exploiter has swapped 75,636 $ETH($124M) for BTC assets and cross-chained to the Bitcoin network. pic.twitter.com/ksIPBzRJ0d — Lookonchain (@lookonch...

Gary Wang told prosecutors that Alameda Research withdrew more value from FTX than the exchange made from fees, owing $20 billion once, while Judge Kaplan reprimanded defense attorneys for repetitive questioning on SBF’s trial day 4. Former FTX CTO Gary Wang named founder Sam Bankman-Fried as a co-conspirator of fraud on day 3 of SBF’s trial. Paradigm’s Matt Huang said his VC marked down $278 million invested in Sam’s crypto exchange and Adam Yedidia detailed a “code error” that fostered Alameda’s unusual overcast on customer assets. Amid caches of overruled defense objections and the prosecution’s search for smoking guns, curtains closed on the third day of Sam Bankman-Fried’s trial for fraud. The former FTX CTO testified to acts of wire fraud, securities fraud, and commodities fraud. Wang, who worked for both FTX and Alameda, said Caroline Ellison, Nishad Singh, and Sam Bankman-Fried were in on it too. SBF has denied criminal wrongdoing, but the other three pled guilt...

MATIC’s bearish trend persists despite the Polygon 2.0 upgrade, reflecting profit-taking and hesitant derivative investors. Falling market cap and trading volume signal waning investor confidence in MATIC’s current price. Overbought conditions and lack of buying activity may lead to further MATIC price decline. The Polygon (MATIC) market has witnessed significant adverse sentiment in the recent 24 hours, with prices plummeting to an intraday low of $0.5458 despite the launch of the Polygon 2.0 upgrade. Consequently, MATIC was trading at $0.5543 at press time, down 1.44% from its intraday high. The adverse attitude might be linked to profit-taking by investors who may have expected a price increase due to the upgrading. MATIC/USD 24-hour price chart (source: CoinStats) Furthermore, Polygon’s Binance Funding Rate went red, suggesting that derivatives investors hesitated to purchase MATIC at its present price. Furthermore, the growing Exc...

According to “EGRAG CRYPTO,” XRP could be on its way to a 58x growth, to attain $30 on the price front. This represents a rise of about 5770% from current price levels. The analyst highlights the token’s previous pattern of rising 5815% from its late 2018 and early 2019 lows. Going by the historical data, the analyst predicts a similar rise for XRP in the near future. Source: EGRAG CRYPTO Also Read: XRP Trader Invested at $0.005 in 2014, Here’s Its Worth Now EGRAG CRYPTO also highlighted that pulled off a 58x rise during its previous cycle. He expects a similar fate for the fifth-largest crypto by market cap now. If EGRAG CRYPTO’s prediction indeed materializes, an investor would need 33333.33 tokens to be a millionaire at $30 per token. The price of 33333.33 tokens at current price levels is about $17333.33. Is XRP the only legal non-security crypto? Source – FX Empire In a recent interview, pro-Ripple lawyer John Deaton said that XRP is the ...

El Salvador is launching its first Bitcoin mining pool, called Lava Pool, aiming to decentralize mining and leverage renewable energy. El Salvador is set to establish its first-ever Bitcoin mining pool after a historic collaboration between Volcano Energy and Luxor Technologies. The initiative aims to harness El Salvador’s distinct regulatory advantages and renewable energy capacity.  While part of this energy will be earmarked for Bitcoin mining , the remaining supply will offer economical electricity options to El Salvador’s local communities. Excited to announce the launch of Lava Pool in collaboration with @LuxorTechTeam. By launching the first #Bitcoin mining pool from El Salvador, we aim to further decentralize bitcoin's hashrate, and to strengthen the country's energy infrastructure. ️ https://t.co/Ef9okyBI5y — Volcano Energy (@Volcano_Energy) October 4, 2023 El Salvador’s strategic ambitions in Bitcoin mining Mining pools are collecti...

The  Wall Street Journal  has confirmed that Alameda Research used a secret backdoor in FTX, the defunct exchange, to withdraw billions of dollars of customer funds, and some of the exchange’s U.S.-based employees were aware of it. In spring 2022, a group of employees at LedgerX discovered a backdoor in the system that allowed Alameda Research, a third-party company, to transfer customer funds.  Although concerns were raised about the “special code,” it was not addressed, and a senior manager was later fired.  You might also like: FTX scandal: court selects 12 jurors for high-profile SBF fraud case FTX staff became aware of the situation after LedgerX employees reported the “special Features ” they had uncovered. Once the issue was brought to the attention of LedgerX’s chief risk officer, Julie Schoening, she notified her boss, Zach Dexter, who discussed the backdoor with Nishad Singh, the co-lead engineer of FTX ...

Singapore – September 20, 2023   – Zeebu, the pioneering on-chain B2B invoice settlement platform, successfully concluded its Yacht Party during TOKEN2049 in Singapore on September 14th, 2023, setting the stage for an unforgettable evening. The event was a resounding success, attracting a significant number of industry leaders, experts, and investors for an evening of networking and insightful discussions. The Yacht Party also garnered attention from major industry media outlets, including Coingape and Bitcoinworld, further amplifying its impact.   Zeebu made its debut as a sponsor at TOKEN2049 Singapore, reinforcing its position as a key player in the industry’s premier event. The week was filled with excitement for the Zeebu team, with their booth at TOKEN2049 serving as a hub of activity. Zeebu’s co-founder and CMO, Raghavendra Hunasgi, delivered a keynote speech at the conference, further highlighting Zeebu’s commitment to the industry. In addition, Zeebu co-hoste...

Oct 04, 2023 at 10:40 // Price Author Coin Idol The latest price Analysis by Coinidol.com report, Cardano (ADA) price, which was trading horizontally, has now risen above the moving average lines. Cardano price long-term forecasts: bearish The altcoin rose to a high of $0.27 on October 2, but encountered resistance. The market is overbought near the recent high. Since August 20, buyers have unsuccessfully attempted to break above the $0.27 resistance four times. Cardano can therefore only move in a range between $0.24 and $0.27. At the time of writing, t...

Amid a looming global financial crisis and the mounting national debt of the United States, the US Department of Treasury has recently increased the country’s debt by an amount that equals more than half of the entire market capitalization of Bitcoin (BTC) – in a single day. As it happens, the US national debt grew by $275 billion in one day, increasing to a record-high $33.442 trillion. By comparison, the total market cap of Bitcoin as press time stood at $536.69 billion, according to the observations shared by the CEO of Pixematic and JAN3 Samson Mow in an X post on October 4. Total US debt size over time. Source: Joe Consorti/Samson Mow Indeed, as Mow, who is also the strategist behind El Salvador’s project of Bitcoin bonds, noted, the epic US debt amount equals roughly 10 million BTC, “and yet there are still people that are unsure if $27k is a good price to buy,” referring to the value of the flagship decentralized finance (DeFi) asset at press time. Bitcoin price anal...