Chain News by Thebittimes.Com

Disney has faced a boycott as Disney+ has thousands of users canceling their subscriptions after Elon Musk cursed out CEO Bob Iger. Musk had told the Disney head to “go f—k yourself,” after the company halted advertising on X this week. The statements were made in response to a growing controversy involving Musk. Subsequently, Disney joined a plethora of companies that paused advertising on the platform formerly known as Twitter. Now, Disney + is facing a large exodus amid a budding boycott. JUST IN: Thousands of users are canceling Disney + subscriptions after Elon Musk told CEO Bob Iger to "go f*ck yourself" for blackmailing him over advertising on X. pic.twitter.com/NEFtHZJoGn — Watcher.Guru (@WatcherGuru) November 30, 2023 Also Read: Elon Musk to Advertisers Trying to Blackmail Him “Go F— Yourself” Disney Faces Boycott Following Elon Musk Comments to CEO Over the last several weeks, the Tesla and X owner, Elon Musk , has be...

Alchemy Pay has integrated Euro Instant solution, SEPA Instant, and Faster Payments SEPA Instant enables European users to buy up to 5,000 euros in cryptocurrency. Faster Payments in the UK accommodates transfers of up to 5,000 British pounds. Cryptocurrency payment platform Alchemy Pay has bolstered its payment infrastructure, introducing new deposit options across Europe and the United Kingdom. The platform has integrated the Euro Instant solution, Single Euro Payments Area (SEPA) Instant, and Faster Payments in the UK to simplify crypto transactions for users in 30 European countries and the UK, with swift processing times and defined transaction limits. Enhanced accessibility and transaction flexibility The move by Alchemy Pay to integrate the various on-ramps in Europe and the UK is a significant strides in expanding its payment options , to offer enhanced deposit channels in Europe and the United Kingdom. With the addition of the Euro Instant so...

Grayscale has update d the agreement to optimize its conversion into a spot Bitcoin (BTC) ETF. The corresponding document appeared on the website of the US Securities and Exchange Commission (SEC). The fund also wants to level the playing field when it comes to other suitors such as asset management giant BlackRock. The first change allows customers to pay the daily fees that Grayscale collects monthly. This is a structural adjustment and not part of any fee reduction. Grayscale currently charges a 2% management fee for GBTC. The second update allows assets to be pooled into a single account. This will allow for smoother creation and redemption of shares, the core processing mechanism for ETFs. You might also like: Bloomberg: BlackRock and Grayscale meeting with SEC about Bitcoin ETF issuance Recently, SEC representatives held negotiations with Grayscale. Discussions were related to converting GBTC into a spot Bitcoin ETF. Bloomberg ETF analyst James Seyffart indicated...

A crypto whale is drawing attention for accumulating a massive amount of Ethereum (ETH) within the last couple of months. According to blockchain tracking service Lookonchain, a deep-pocketed investor has amassed 31,149 ETH worth about $54,900,000 since September. Lookonchain says that this week, the whale purchased 4,865 additional ETH while the leading smart contract platform was trading at around $2,056. “A giant whale spent 10 million USDC to buy 4,865 ETH at $2,056 … This whale has bought a total of 31,149 ETH ($54.9 million) at ~$1,763 from Binance and DEX (decentralized exchange) since September 19th. At the current price, the profit is ~$9.2 million.” Source: Lookonchain/X Ethereum is trading for $2,024 at time of writing, down 1.6% in the past 24 hours. Lookonchain also spotted an investor who participated in Ethereum’s initial coin offering (ICO) in 2014 moving thousands of ETH onto crypto exchange Kraken. “An Ethereum ICO participant de...

The cryptocurrency market anticipates a potential bull market triggered by events such as Bitcoin halving and the approval of a spot Bitcoin ETF next year.   Eric Balchunas, senior ETF analyst for Bloomberg, suggested in an X post on November 29 that Bloomberg is maintaining their stance on the 90% probability of approval by January 10, which has been their position for months, even before it gained popularity and became widely accepted. “People asking me if we changed odds. No, we still holding line at 90% odds of approval by Jan 10 (aka this cycle), the same odds we’ve had for months (before it was cool/safe). What we watching for now: more amended/final filings to roll in and clarity on in-kind vs cash creates.” posted Balchunas Eric Balchunas X post. Source: X Despite a recent slowdown in its upward momentum, Bitcoin (BTC) continues to maintain a position above the significant psychological threshold of $37,000. Several indicators point towards a robust ...

An X user and Bill Morgan recently engaged in a Twitter exchange discussing the legal status of Ripple’s XRP. Morgan highlighted that there is legal clarity regarding XRP. Ripple’s CTO tweets about US securities law, tokens, and securities. X user Joe Sho and crypto lawyer Bill Morgan debated the legal status of Ripple’s XRP.  Sho, in a tweet, expressed uncertainty about the legal clarity surrounding XRP, prompting a response from Morgan that sheds light on the intricacies of the matter. I think there is, definitely Joe. Only some Bitcoin maxis who can’t read and understand a court decision or are too biased or obtuse to admit the clear words of the judge that XRP itself is not a security disagree. Then there was the subsequent letter to the court from the SEC… https://t.co/m1bDlqtpEi — bill morgan (@Belisarius2020) November 29, 2023 “I think there is, definitely, Joe. Only some Bitcoin maxis who can’t read and underst...

Crypto lending giant Genesis has reached a new repayment deal agreement with its parent company Digital Currency Group. Crypto behemoth Digital Currency Group (DCG) has reached an agreement with its trading subsidiary Genesis Global as part of a $620 million lawsuit . According to Bloomberg, DCG has agreed to pay nearly $200 million in Bitcoin (BTC) and U.S. dollars over the next few weeks, with another sum to be paid by April 2024. Genesis lawyer Sean O’Neal says the deal will allow Genesis to avoid months of costly legal battles. Yet, he noted that the deal doesn’t resolve other disputes as part of Genesis’s plan for resolving its bankruptcy. You might also like: Alameda Research to claim $175m from Genesis’ assets The agreement comes a few months after Genesis filed a lawsuit against its parent company, DCG, seeking to recover $620 million in unpaid loans amid ongoing bankruptcy proceedings and settlement talks. Genesis Global filed for Chapter ...

The crypto currency market is well known for being a live technological innovation and experimentation hub. Creativity is one of the few limits imposed on enthusiasts eager to experiment and show the world their solutions, which applies to crypto mining. In particular, the Monero (XMR) community is usually seen experimenting with mining hardware. Recently, an anonymous miner posted a Nintendo Switch setup on the subreddit r/MoneroMining .  It is possible to see a Monero mining interface running in the same 2017 Nintendo console that one day has probably hosted Super Mario. The Nintendo Switch appears to be producing 230 hashes per second in the picture. Nintendo Switch console mining Monero (XMR). Source: r/MoneroMining Interestingly, RandomX, the Monero mining algorithm, allows for alternative experiments like this due to being ASIC-resistant. Miners can use simple CPUs or gaming devices to run the algorithm and try their luck at block discovery while supporting network secu...

According to the FSB, there is a need for increased regulation in the crypto industry. Multifunction crypto firms are those that combine trading and other activities, said the FSB. The FSB noted that collapses in multifunction crypto firms could destabilize traditional finance. The Financial Stability Board (FSB), a global organization that regulates and makes recommendations regarding the global financial system, has said there is a need for increased regulation in the crypto industry. According to its recent report, the monitoring organization noted that increasing regulatory measures would tackle the potential destabilization of the wider financial sector by crypto firm collapses. The report mentioned multifunction crypto-asset intermediaries (MCIs), which are firms that offer combinations of crypto-asset services that are typically conducted by separate legal entities in traditional finance. Binance, FTX, and Coinbase are examples of MCIs mentione...

In a blog post, Hayes condemned the TradFi industry and the double standards he says relate to crypto, CZ and Binance. BitMEX founder Arthur Hayes has argued that the treatment of Changpeng Zhao and Binance highlights a cunning set of double standards that unfairly targets crypto companies. Hayes noted the severity of the penalties imposed on Zhao and Binance as evidence of a contradictory stance by the U.S. DOJ and other international regulators. Over the last several years, Hayes notes, regulators around the world have witnessed massive scales of money laundering and mismanagement by TradFi banks like Goldman Sachs, HSBC and Credit Suisse. Obviously, the treatment of CZ and Binance is absurd, and only highlights the arbitrary nature of punishment at the hands of the state. Arthur Hayes Hayes mentions specifically so-called “too big to fail banks” like HSBC and Goldman Sachs, who have repeatedly been fined and charged with money laundering and other forms of malicious finan...

Ravi Menon says the country is instead clearing a path for CBDCs and regulated stablecoins. There will not be a place for private cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) in the monetary scene as many of them fail the “fundamental tests of financial services,” Monetary Authority of Singapore’s managing director Ravi Menon believes. Speaking at a panel discussion on the Future of Monetary System on Nov. 28, 2023, Menon said that private crypto currencies “have miserably failed the test of money because they can’t keep value.” “Nobody keeps their life savings in these things. People buy and sell these things to make a quick buck.” Ravi Menon While Menon didn’t specifically name which crypto currencies will be barred from the market, he suggested that a future monetary system will be based only on central bank digital currencies (CBDCs), tokenized bank liabilities and “well-regulated” stablecoins, witho...

One of the most important figures in the digital asset sector, Ethereum co-founder Vitalik Buterin has shared his intention to redesign the entire network. Indeed, Buterin spoke in Turkey where he discussed plans that would bring widespread changes to users across the network. Moreover, Buterin had outlined an overall strategy that he would seek to employ for those changes. Specifically, they would target an enhancement to the staking of ETH, and performance issues that have occurred regarding addresses. The latter has notably been an issue for the network in years past. Source: CoinDesk Also Read: Vitalik Buterin Says He Hasn’t Sold Ethereum (EHT) Since 2018 Buterin Seeking to Implement Widespread Changes to Ethereum Within the mainstream perception of digital assets, two tokens reign supreme. Specifically, Bitcoin (BTC) and Ethereum (ETH) have become staples for the industry. Subsequently, those connected to the assets have become some of its most important entiti...

The past month has seen Cardano (ADA) experience a substantial rally, mirroring the broader crypto market‘s momentum.  The catalyst behind this surge stems in part from Bitcoin’s (BTC) lead in the rally, fueled by mounting expectations that US regulators are on the brink of approving a spot BTC exchange-traded fund (ETF).  Additionally, the price rise was also boosted by the Cardano Summit 2023, a prominent crypto event that took place from November 2 to 4, as well as the recent announcement by Cardano founder Charles Hoskinson, in which he revealed plans to move towards a fully decentralized governance structure. This positive sentiment has injected a fresh wave of optimism into the market, propelling ADA to a crucial demand area. According to a prominent analyst, maintaining this position could pave the way for further gains, potentially toward yearly highs for the popular altcoin. ADA must uphold this price range, analyst says Cryptocurrency Card...

The Tron blockchain has gained popularity among Iran-backed militant groups, overtaking the Bitcoin network. Faster and cheaper than Bitcoin, Tron has overtaken its rival as a platform for cryptocurrency transfers linked to groups designated as terrorist organizations by Israel, the United States and other countries, according to Reuters. Journalists analyzed cryptocurrency seizures by Israeli security services since 2021. The results showed a sharp increase in attacks on Tron wallets and a decrease in Bitcoin wallet seizures. “Earlier it was Bitcoin and now our data shows that these terrorist organizations tend to increasingly favor Tron.” Mriganka Pattnaik, CEO of New York-based blockchain analysis firm Merkle Science In total, Israel’s National Bureau of Counter-Terrorism Financing (NBCTF) froze 143 Tron wallets between July 2021 and Oct. 2023, wallets it believed were associated with a “designated terrorist organization” or used for a “serious terro...

The Cosmos Hub community is giving the green light to a proposal aimed at reducing the maximum inflation rate of its native token, Cosmos (ATOM), from 14% to 10% as a security enhancement measure. The objective of this proposal is to decrease the annual interest rate for stakers, with the intention of fostering long-term profitability and facilitating price growth in ATOM. The proposal , which garnered 41.1% support, narrowly passed with 38.5% of votes against it, marking the highest-ever turnout vote in the Cosmos ecosystem. The approved change is set to bring Atom’s annualized staking yield from approximately 19% to about 13.4%. According to the proposal , the Cosmos Hub experienced excessive spending on security due to ATOM’s high inflation rate. It contended that by reducing inflation to 10%, validators could still attain breakeven or profitable outcomes. The proposal received substantial support from Zero Knowledge Validator, while the largest vote against it ca...

XRP whales accumulated $6.82 million worth of the token over the past week. XRP’s support at $0.57 may be crucial to a possible run to $0.67 if buying pressure increases. The token may test a new yearly high if whales continue to buy and Bitcoin drives towards $40,000. Whales have purchased around 11 million worth of Ripple (XRP) in the last seven days, Crypto analyst Ali Martinez disclosed. Martinez, who shared the data from on-chain analytic platform Santiment, noted that the value of these tokens was around $6.82 million. #Ripple | On-chain data shows that #XRP whales have purchased around 11 million $XRP over the past week, worth roughly $6.82 million! pic.twitter.com/VnWpaMoOYR — Ali (@ali_charts) November 25, 2023 Typically, when these whales accumulate in large numbers, it signals a shift in market sentiment and a potential increase in value. So, traders can modify their strategies and possibly capitalize on this likely market movement. ...

Binance settled with the SEC and a greed to pay $4.3 billion. Changpeng Zhao also a greed to step down as the CEO and pay $50M. Memeinator continued with its token sale as it raised over $1.4 million. The crypto fear and greed index remained in the green this week even as the industry went through severe challenges. Bitcoin surged to over $38,000 while crypto tokens like Superverse (SUPER), GameSwift, and EthereumPoW more than doubled. In all, the total market cap of all digital currencies approached the $1.5 trillion level. Binance and Kraken woes The crypto industry had several important events this week. It started with a major lawsuit brought by the Securities and Exchange Commission (SEC)  against Kraken , one of the biggest crypto exchanges in the world. The SEC alleged that the company operates as an unregistered securities exchange, putting millions of customers at risk. It also operates illegally, providing broker, dealer, and clearing...

Bitcoin has risen above $38,000, clearing the path for a rally higher. Will altcoins follow? Bitcoin (BTC) broke above the overhead resistance of $38,000 on Nov. 24, indicating that the sentiment is positive and bulls have kept up the pressure. Independent Reserve CEO Adrian Przelozny told Cointelegraph that the “next two years are going to be good,” and market activity is likely to pick up in early 2024. The major catalysts for next year is the Bitcoin halving in April and applications for a spot Bitcoin exchange-traded fund, some of which have a deadline for a decision in January. With two main events on the horizon, Bitcoin is likely to find buyers on dips. Daily cryptocurrency market performance. Source: Coin360 Analysts expect a retracement from $40,000 in the near term. That could be one of the reasons why Cathie Wood’s investment firm, ARK Invest, has been gradually selling into strength. The firm sold about 700,000 shares of the Grayscale Bitcoin Trust (GBTC) over the past mon...