Binance, Huobi team up to recover $2.5M from Harmony One hackers.
In a recent tweet, on-chain crypto detective ZachXBT said that the hackers had moved $64 million over the weekend.
Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin from hackers behind the Harmony bridge exploit.
In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After Binance detected this, they contacted and assisted Huobi in freezing and recovering the digital assets deposited by the hackers.
According to Zhao, the exchanges recovered a total of 121 BTC, estimated to be worth around $2.5 million at the time of writing.
Before Binance and Huobi detected and froze the funds, on-chain crypto detective, ZachXBT, highlighted that the hackers behind the exploit were moving 41,000 Ether, worth around $64 million, over the weekend.
According to the crypto sleuth, the hackers consolidated and deposited the digital assets on three different crypto exchanges after moving the funds. However, the on-chain detective did not specify the names of the exchanges used by the exploiters.
On June 24, 2022, the Harmony team detected the exploit and reported $100 million in funds compromised. The hack highlighted concerns previously brought up by community members around some of the mutisig wallets securing the Horizon bridge.
On June 30, the Lazarus Group — an infamous North Korean hacking organization — was identified as a suspect behind the $100 million Harmony hack. Blockchain analysis firm Elliptic noted that the manner in which the hack was conducted was similar to other Lazarus Group attacks.
The Horizon bridge hack is one of the largest exploits and hacks in 2022. Analysts believe that the Lazarus Group targeted the employee login credentials to breach Harmony's security system. The hackers then deployed laundering programs to move the stolen assets.
In a recent tweet, on-chain crypto detective ZachXBT said that the hackers had moved $64 million over the weekend.
Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin from hackers behind the Harmony bridge exploit.
In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After Binance detected this, they contacted and assisted Huobi in freezing and recovering the digital assets deposited by the hackers.
According to Zhao, the exchanges recovered a total of 121 BTC, estimated to be worth around $2.5 million at the time of writing.
Before Binance and Huobi detected and froze the funds, on-chain crypto detective, ZachXBT, highlighted that the hackers behind the exploit were moving 41,000 Ether, worth around $64 million, over the weekend.
According to the crypto sleuth, the hackers consolidated and deposited the digital assets on three different crypto exchanges after moving the funds. However, the on-chain detective did not specify the names of the exchanges used by the exploiters.
On June 24, 2022, the Harmony team detected the exploit and reported $100 million in funds compromised. The hack highlighted concerns previously brought up by community members around some of the mutisig wallets securing the Horizon bridge.
On June 30, the Lazarus Group — an infamous North Korean hacking organization — was identified as a suspect behind the $100 million Harmony hack. Blockchain analysis firm Elliptic noted that the manner in which the hack was conducted was similar to other Lazarus Group attacks.
The Horizon bridge hack is one of the largest exploits and hacks in 2022. Analysts believe that the Lazarus Group targeted the employee login credentials to breach Harmony's security system. The hackers then deployed laundering programs to move the stolen assets.
🚨ANNOUNCEMENT🚨
EarnPark, a crypto investment platform is keeping their yields high until the end of January.
On BTC – 20% APY
On USDT – 15% APY
On USDC – 15% APY
On ETH – 11 % APY
Don't miss out on this opportunity!
✔️Payouts in the crypto you invested
✔️Deposit and withdrawal anytime
✔️Compounding daily payouts
✔️Bank-level security
✔️Zero fees
👉Follow Twitter for more updates
EarnPark, a crypto investment platform is keeping their yields high until the end of January.
On BTC – 20% APY
On USDT – 15% APY
On USDC – 15% APY
On ETH – 11 % APY
Don't miss out on this opportunity!
✔️Payouts in the crypto you invested
✔️Deposit and withdrawal anytime
✔️Compounding daily payouts
✔️Bank-level security
✔️Zero fees
👉Follow Twitter for more updates
New Bitcoin Address Momentum Looking Bullish, What This Means For BTC Price.
A shift in new Bitcoin address momentum is sending a signal that the world’s largest cryptocurrency might be in the beginnings of a new bull market, data from crypto analytics firm Glassnode reveals. According to Glassnode, the 30-Day Simple Moving Average (SMA) of New Addresses has now been above the 200-Day SMA since the start of November, despite the collapse of cryptocurrency exchange FTX early that month.
Indeed, the data may suggest that new Bitcoin investors used the drop in Bitcoin’s price as a result of FTX’s implosion as a dip-buying opportunity. Moreover, the data might reflect a post-FTX shift in Bitcoin investor preference towards self-custody as opposed to leaving crypto assets on the exchange.
Either way, the 30-Day SMA of New Addresses moving above the 200-Day SMA is a bullish sign – in the past, the 30-Day SMA has typically been above the 200-Day SMA during Bitcoin bull markets.
With inflationary pressures in the US, the world’s largest economy, likely to continue to drop rapidly as growth slides, investors are increasingly paring betting that the US Federal Reserve won’t be able to keep interest rates at elevated levels for long. In that sense, 2023 looks set to be a very different year to 2022 – a year dominated by a historic hawkish shift in the Fed’s policy.
With crypto prices currently coming from a much lower base and against a much more dovish macro backdrop, 2023 could be a much better year for Bitcoin. And New Addresses Momentum isn’t the only indicator screaming that a new bull market might be underway. Bitcoin is back above its 200-Day Moving Average and Realized Price - both are just under $20,000 and both are considered key psychological levels.
A shift in new Bitcoin address momentum is sending a signal that the world’s largest cryptocurrency might be in the beginnings of a new bull market, data from crypto analytics firm Glassnode reveals. According to Glassnode, the 30-Day Simple Moving Average (SMA) of New Addresses has now been above the 200-Day SMA since the start of November, despite the collapse of cryptocurrency exchange FTX early that month.
Indeed, the data may suggest that new Bitcoin investors used the drop in Bitcoin’s price as a result of FTX’s implosion as a dip-buying opportunity. Moreover, the data might reflect a post-FTX shift in Bitcoin investor preference towards self-custody as opposed to leaving crypto assets on the exchange.
Either way, the 30-Day SMA of New Addresses moving above the 200-Day SMA is a bullish sign – in the past, the 30-Day SMA has typically been above the 200-Day SMA during Bitcoin bull markets.
With inflationary pressures in the US, the world’s largest economy, likely to continue to drop rapidly as growth slides, investors are increasingly paring betting that the US Federal Reserve won’t be able to keep interest rates at elevated levels for long. In that sense, 2023 looks set to be a very different year to 2022 – a year dominated by a historic hawkish shift in the Fed’s policy.
With crypto prices currently coming from a much lower base and against a much more dovish macro backdrop, 2023 could be a much better year for Bitcoin. And New Addresses Momentum isn’t the only indicator screaming that a new bull market might be underway. Bitcoin is back above its 200-Day Moving Average and Realized Price - both are just under $20,000 and both are considered key psychological levels.
🚀 | ZERO BRIDGE FEES | 30% APR
Firepot Finance is the 1st DEX on AirDAO Blockchain | Farm NOW on FirepotSwap at https://airdao.io 👨🌾
The first DEX on AMB-NET is offering very profitable APRs on its BUSD - AMB pair 🔥 Bridge over from ETH or BNB networks with no fees and access the best performing L1 of Q4 2022.
🧨 Farm, Swap, and join our pool launch competition to earn large $AMB rewards!
🧨 Highest APR available for the explosive $AMB token, hitting highest volume and hotlist on Binance multiple times in past months.
🧨 Safe, easy and secure. The most trusted DeFi contracts on the market.
🧑🎓 | Learn more about our products on the AirDAO Academy
🧑🌾 | Farm on https://airdao.academy/firepotswap
-
Connect with our vision reading our first mirror article called: Why Are You Still Using an Intermediary? Crypto Is All About DeFi.
Have we lost sight of Satoshi's vision for DeFi? The complexity of DeFi platforms has been a big reason for it. Firepot Finance is solving this by providing the true easy-to-use experience DeFi.
If DeFi is continues to be harder to use than CeFi, then most people will continue using CeFi despite the limitations and risks.
🏆 Take a look at this article and win $100 in prizes with our twitter competition running right now: https://bit.ly/3QOhQFc
Firepot Finance is the 1st DEX on AirDAO Blockchain | Farm NOW on FirepotSwap at https://airdao.io 👨🌾
The first DEX on AMB-NET is offering very profitable APRs on its BUSD - AMB pair 🔥 Bridge over from ETH or BNB networks with no fees and access the best performing L1 of Q4 2022.
🧨 Farm, Swap, and join our pool launch competition to earn large $AMB rewards!
🧨 Highest APR available for the explosive $AMB token, hitting highest volume and hotlist on Binance multiple times in past months.
🧨 Safe, easy and secure. The most trusted DeFi contracts on the market.
🧑🎓 | Learn more about our products on the AirDAO Academy
🧑🌾 | Farm on https://airdao.academy/firepotswap
-
Connect with our vision reading our first mirror article called: Why Are You Still Using an Intermediary? Crypto Is All About DeFi.
Have we lost sight of Satoshi's vision for DeFi? The complexity of DeFi platforms has been a big reason for it. Firepot Finance is solving this by providing the true easy-to-use experience DeFi.
If DeFi is continues to be harder to use than CeFi, then most people will continue using CeFi despite the limitations and risks.
🏆 Take a look at this article and win $100 in prizes with our twitter competition running right now: https://bit.ly/3QOhQFc
Crypto to play 'major role' in UAE trade: foreign trade Minister.
UAE’s minister of state for foreign trade Thani Al-Zeyoudi noted that as the country has attracted a lot of talent from the crypto sector, the UAE now needs to roll out the correct regulation to support further growth.
Crypto will play a “major role” in the United Arab Emirates' global trade moving forward, says the UAE’s minister of state for foreign trade Thani Al-Zeyoudi.
Speaking with Bloomberg on Jan. 20 in Davos Switzerland — where world leaders are currently gathered for the 2023 World Economic Forum — Al-Zeyoudi provided a host of updates regarding the UAE’s trade partnerships and policies heading into 2023.
Commenting on the crypto sector, the minister stated that “crypto will play a major role for UAE trade going forward,” as he outlined that "the most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.”
Al-Zeyoudi went on to suggest that as the UAE works on its crypto regulatory regime, the focus will be on making the Gulf country a hub with crypto-friendly policies that also have sufficient protections in place:
“We started attracting some of the companies to the country with the aim that we’ll build together the right governance and legal system, which are needed.”
The comments from Al-Zeyoudi come just a week after the UAE Cabinet introduced new regulation which essentially ensures that entities engaging in crypto activities must secure a license and approval from the Virtual Asset Regulatory Authority (VARA).
If companies fail to do so they will face fines of up to $2.7 million under the new law. The move adds to the “Guiding Principles” for digital asset regulation and supervision that were published by the financial regulator of Abu Dhabi’s Global Market free economic zone in September.
The principles outline a friendly stance towards crypto while also pledging to comply with international standards in Anti-Money Laundering (AML), combating the financing of terrorism (CFT) and supporting financial sanctions.
UAE’s minister of state for foreign trade Thani Al-Zeyoudi noted that as the country has attracted a lot of talent from the crypto sector, the UAE now needs to roll out the correct regulation to support further growth.
Crypto will play a “major role” in the United Arab Emirates' global trade moving forward, says the UAE’s minister of state for foreign trade Thani Al-Zeyoudi.
Speaking with Bloomberg on Jan. 20 in Davos Switzerland — where world leaders are currently gathered for the 2023 World Economic Forum — Al-Zeyoudi provided a host of updates regarding the UAE’s trade partnerships and policies heading into 2023.
Commenting on the crypto sector, the minister stated that “crypto will play a major role for UAE trade going forward,” as he outlined that "the most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.”
Al-Zeyoudi went on to suggest that as the UAE works on its crypto regulatory regime, the focus will be on making the Gulf country a hub with crypto-friendly policies that also have sufficient protections in place:
“We started attracting some of the companies to the country with the aim that we’ll build together the right governance and legal system, which are needed.”
The comments from Al-Zeyoudi come just a week after the UAE Cabinet introduced new regulation which essentially ensures that entities engaging in crypto activities must secure a license and approval from the Virtual Asset Regulatory Authority (VARA).
If companies fail to do so they will face fines of up to $2.7 million under the new law. The move adds to the “Guiding Principles” for digital asset regulation and supervision that were published by the financial regulator of Abu Dhabi’s Global Market free economic zone in September.
The principles outline a friendly stance towards crypto while also pledging to comply with international standards in Anti-Money Laundering (AML), combating the financing of terrorism (CFT) and supporting financial sanctions.
Investors Are Taking Notice of This New Electric Vehicle Crypto Project, Just $100,000 Left in Presale.
Electric vehicles (EVs) are set to play a crucial role in the drive for a more environmentally-sustainable transport system. According to recent data published by the European Automobile Manufacturers Association (ACEA), fuel and diesel-powered automobiles accounted for 52.8% of global vehicles.
However, the data does not stop there. The report also states that about 25.1% of total registered vehicles in the European bloc were hybrid electrics and battery electric, snapping up a sizable 10%. This change in trajectory shows a growing consensus amongst world leaders to pivot towards renewable energy in facilitating the movement of goods and services. While this shows promise for the EV industry, it grossly eliminates the end users of these battery-powered vehicles.
A new project is looking to change this narrative by providing a decentralized template that enables anyone to actively participate in the slashing of global greenhouse emissions from the comfort of their cars.
Climate experts and world governments have explored several options to reduce the global warming pandemic. One such solution has been the use of carbon credits. The concept sounds elitist, but it is quite simple. The idea is that people are granted permits to emit a certain amount of carbon dioxide into the atmosphere. Once they exceed their emission levels, they are required to buy more of these permits or credits, and if underutilized, they can sell the excess to another person.
The general pivot around this is to force the global populace to find innovative means of generating energy. While there is a growing ecosystem dealing in this industry, the carbon credit ecosystem is a gated or fenced city, and only companies are granted easy access. This is because carbon credits have not been made mainstream and accessible by the average car owner, but the C+Charge project aims to change this.
Launched in late 2022, C+Charge is creating a robust peer-to-peer payment facility for EV charging stations. The team behind the project wants to make carbon credit benefits accessible to the average car owner, besides the car manufacturers themselves. EV car owners will be provided with electronic wallets containing the platform's native token, CCHG, through which they can pay their charge fees and earn free carbon credits for their activities.
Electric vehicles (EVs) are set to play a crucial role in the drive for a more environmentally-sustainable transport system. According to recent data published by the European Automobile Manufacturers Association (ACEA), fuel and diesel-powered automobiles accounted for 52.8% of global vehicles.
However, the data does not stop there. The report also states that about 25.1% of total registered vehicles in the European bloc were hybrid electrics and battery electric, snapping up a sizable 10%. This change in trajectory shows a growing consensus amongst world leaders to pivot towards renewable energy in facilitating the movement of goods and services. While this shows promise for the EV industry, it grossly eliminates the end users of these battery-powered vehicles.
A new project is looking to change this narrative by providing a decentralized template that enables anyone to actively participate in the slashing of global greenhouse emissions from the comfort of their cars.
Climate experts and world governments have explored several options to reduce the global warming pandemic. One such solution has been the use of carbon credits. The concept sounds elitist, but it is quite simple. The idea is that people are granted permits to emit a certain amount of carbon dioxide into the atmosphere. Once they exceed their emission levels, they are required to buy more of these permits or credits, and if underutilized, they can sell the excess to another person.
The general pivot around this is to force the global populace to find innovative means of generating energy. While there is a growing ecosystem dealing in this industry, the carbon credit ecosystem is a gated or fenced city, and only companies are granted easy access. This is because carbon credits have not been made mainstream and accessible by the average car owner, but the C+Charge project aims to change this.
Launched in late 2022, C+Charge is creating a robust peer-to-peer payment facility for EV charging stations. The team behind the project wants to make carbon credit benefits accessible to the average car owner, besides the car manufacturers themselves. EV car owners will be provided with electronic wallets containing the platform's native token, CCHG, through which they can pay their charge fees and earn free carbon credits for their activities.
Receive and send cryptocurrency payments with PassimPay
We created a cryptocurrency payment system. It is a simple, quick, and convenient solution for your financial needs.
PassimPay is suitable for personal use and businesses, offering efficient tools for storing, sending, and receiving money.
— Instant transactions
— Flexible payment settings.
— Service fees between 0.1% and 1% for individuals and up to 3.5% for businesses.
— Multilevel protection system: 2FA, IP-tracking, secret key, intrusion alarm system, etc.
— Simple API integration for any website.
Easy. Instant. Secure. For any purpose. Sign up here!
Telegram: https://t.me/Passim_Pay
We created a cryptocurrency payment system. It is a simple, quick, and convenient solution for your financial needs.
PassimPay is suitable for personal use and businesses, offering efficient tools for storing, sending, and receiving money.
— Instant transactions
— Flexible payment settings.
— Service fees between 0.1% and 1% for individuals and up to 3.5% for businesses.
— Multilevel protection system: 2FA, IP-tracking, secret key, intrusion alarm system, etc.
— Simple API integration for any website.
Easy. Instant. Secure. For any purpose. Sign up here!
Telegram: https://t.me/Passim_Pay
Fed policy to align bank oversight could limit crypto activities by state banks.
The new policy would align the allowable activities for insured and uninsured state banks and OCC-supervised national banks by making rules for state banks more restrictive.
The United States Federal Reserve Board announced on Jan. 27 that it was issuing a policy statement regardin limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen by the Office of the Comptroller of the Currency (OCC), by allowing them the same scope of permissible activities.
The new policy will limit the activities of state banks by not allowing them to engage in activities not permitted by national banks unless state legislation allows it. In the Federal Register notice, the statement specifically discusses crypto at length. It stated:
“The Board has not identified any authority permitting national banks to hold most crypto-assets. As principal in any amount, and there is no federal statute or rule expressly permitting state banks to hold crypto-assets as principal. Therefore, the Board would presumptively prohibit state member banks from engaging in such activity under section 9(13) of the Federal Reserve Act.”
The notice also said that state banks have proposed issuing “dollar tokens” — that is, stablecoins — and those banks now will be subject to OCC interpretative letters 1174 and 1179, as are national banks. It added:
“The Board generally believes that issuing tokens on open, public, and/or decentralized networks, or similar systems is highly likely to be inconsistent with safe and sound banking practices.”
The statement was issued on the same day that the Fed rejected the application of Wyoming’s Custodia Bank for Federal Reserve System membership.
The Fed beefed up scrutiny on banks engaging in crypto activities in August 2022, when it issued a letter requiring the banks it oversees to disclose plans that include crypto, with a reminder to ensure adequate risk management. The letter applied retrospectively to banks already active in crypto.
The new policy would align the allowable activities for insured and uninsured state banks and OCC-supervised national banks by making rules for state banks more restrictive.
The United States Federal Reserve Board announced on Jan. 27 that it was issuing a policy statement regardin limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen by the Office of the Comptroller of the Currency (OCC), by allowing them the same scope of permissible activities.
The new policy will limit the activities of state banks by not allowing them to engage in activities not permitted by national banks unless state legislation allows it. In the Federal Register notice, the statement specifically discusses crypto at length. It stated:
“The Board has not identified any authority permitting national banks to hold most crypto-assets. As principal in any amount, and there is no federal statute or rule expressly permitting state banks to hold crypto-assets as principal. Therefore, the Board would presumptively prohibit state member banks from engaging in such activity under section 9(13) of the Federal Reserve Act.”
The notice also said that state banks have proposed issuing “dollar tokens” — that is, stablecoins — and those banks now will be subject to OCC interpretative letters 1174 and 1179, as are national banks. It added:
“The Board generally believes that issuing tokens on open, public, and/or decentralized networks, or similar systems is highly likely to be inconsistent with safe and sound banking practices.”
The statement was issued on the same day that the Fed rejected the application of Wyoming’s Custodia Bank for Federal Reserve System membership.
The Fed beefed up scrutiny on banks engaging in crypto activities in August 2022, when it issued a letter requiring the banks it oversees to disclose plans that include crypto, with a reminder to ensure adequate risk management. The letter applied retrospectively to banks already active in crypto.
Next 5-10 years are probably your last opportunity to make x100-x1000 in the Crypto market.
What can I (and you) do here:
✔️use 10-20% of monthly income to buy crypto: BTC, ETH or DCA into stablecoins and find yourself a safe platform which will grow that supply
✔️invest into infrastructural blockchain project with actively developing ecosystems
In my blog I will try to simplify as much as I can from my education in investing and 7+ years of experience in crypto.
Follow for crypto advice and investing tips:
👉Gene, CEO of Earnpark
What can I (and you) do here:
✔️use 10-20% of monthly income to buy crypto: BTC, ETH or DCA into stablecoins and find yourself a safe platform which will grow that supply
✔️invest into infrastructural blockchain project with actively developing ecosystems
In my blog I will try to simplify as much as I can from my education in investing and 7+ years of experience in crypto.
Follow for crypto advice and investing tips:
👉Gene, CEO of Earnpark
Is it Too Late to Buy Binance Coin? Crypto Analysts Give Their BNB Price Predictions.
BNB continues to trade just over 3.0% below earlier weekly monthly in the $320s, with traders reluctant to continue bidding the price higher ahead of a barrage of key upcoming macro risk events. These include Wednesday’s Fed policy announcement, Thursday’s ECB and BoE policy meetings and Friday’s US jobs report, as well as a smattering of other tier-one US data releases like the ISM PMI surveys and JOLTs job openings.
The Fed is expected to hike rate by another 25 bps to 4.50-4.75%. Fed Chairman Jerome Powell’s tone on the outlook for further rate hikes (markets are pricing just one more hike in March) will be the key thing for markets – some strategists expect Powell to come across as hawkish, despite a growing mountain of evidence that US inflation is falling back rapidly towards the Fed’s 2.0% target.
Conversely, if macro events this week turn out as a positive for crypto (i.e. a dovish Fed and weak US data spur Fed easing bets), BNB could be looking at an upside break of the $320 resistance area. That would open the door to a rally back towards November 2022’s highs close to $400, a potential 27% rally from current levels.
According to a Twitter post by crypto technical analyst World of Charts, BNB is on the verge of breaking to the north of a long-term pennant structure. If the breakout is confirmed, World of Charts noted, a test of all-time highs is to be expected.
BNB continues to trade just over 3.0% below earlier weekly monthly in the $320s, with traders reluctant to continue bidding the price higher ahead of a barrage of key upcoming macro risk events. These include Wednesday’s Fed policy announcement, Thursday’s ECB and BoE policy meetings and Friday’s US jobs report, as well as a smattering of other tier-one US data releases like the ISM PMI surveys and JOLTs job openings.
The Fed is expected to hike rate by another 25 bps to 4.50-4.75%. Fed Chairman Jerome Powell’s tone on the outlook for further rate hikes (markets are pricing just one more hike in March) will be the key thing for markets – some strategists expect Powell to come across as hawkish, despite a growing mountain of evidence that US inflation is falling back rapidly towards the Fed’s 2.0% target.
Conversely, if macro events this week turn out as a positive for crypto (i.e. a dovish Fed and weak US data spur Fed easing bets), BNB could be looking at an upside break of the $320 resistance area. That would open the door to a rally back towards November 2022’s highs close to $400, a potential 27% rally from current levels.
According to a Twitter post by crypto technical analyst World of Charts, BNB is on the verge of breaking to the north of a long-term pennant structure. If the breakout is confirmed, World of Charts noted, a test of all-time highs is to be expected.
As Avalanche Price Explodes, These 3 Altcoins Might 20x in 2023.
AVAX, the cryptocurrency that powers Avalanche’s high-performance smart-contract-enabled layer-1 blockchain protocol, has been surging in 2023. The cryptocurrency is already up nearly 100% since the turn of the year, with AVAX last changing hands to the north of $21 per token, having ended 2022 under $11.
Avalanche has been benefitting from a broader uptick in crypto market risk appetite that has seen the likes of Bitcoin and Ethereum post 35-40% gains on the year. Traders have been betting that 2023 is going to be a much more favorable year on the macro front, as US inflation falls back rapidly, allowing the US Federal Reserve to ease up on its monetary policy tightening later in the year.
In mid-January, AVAX crashed to the north of its 200-Day Simple Moving Average (SMA) for the first time since April 2022 and has continually found support at its 21-Day SMA in recent weeks. If Avalanche can muster a sustained break to the north of resistance in the $21.80 area, this can open the door to a further push higher towards the August highs just above $30 per token, a further 45% rally from current levels.
Investors should consider investing in AVAX if they think the continued recovery in the cryptocurrency market's appetite for risk has legs. If a new bull market is here and AVAX does recover back to prior all-time highs, that would mark a 5-6x rally from current levels – impressive stuff.
But in a cryptocurrency bull market, investors may be able to secure even more impressive gains, perhaps in the region of 20x, if they invest in the right crypto presales. Here is a list of crypto presales reviewed by the team at Cryptonewscom.
AVAX, the cryptocurrency that powers Avalanche’s high-performance smart-contract-enabled layer-1 blockchain protocol, has been surging in 2023. The cryptocurrency is already up nearly 100% since the turn of the year, with AVAX last changing hands to the north of $21 per token, having ended 2022 under $11.
Avalanche has been benefitting from a broader uptick in crypto market risk appetite that has seen the likes of Bitcoin and Ethereum post 35-40% gains on the year. Traders have been betting that 2023 is going to be a much more favorable year on the macro front, as US inflation falls back rapidly, allowing the US Federal Reserve to ease up on its monetary policy tightening later in the year.
In mid-January, AVAX crashed to the north of its 200-Day Simple Moving Average (SMA) for the first time since April 2022 and has continually found support at its 21-Day SMA in recent weeks. If Avalanche can muster a sustained break to the north of resistance in the $21.80 area, this can open the door to a further push higher towards the August highs just above $30 per token, a further 45% rally from current levels.
Investors should consider investing in AVAX if they think the continued recovery in the cryptocurrency market's appetite for risk has legs. If a new bull market is here and AVAX does recover back to prior all-time highs, that would mark a 5-6x rally from current levels – impressive stuff.
But in a cryptocurrency bull market, investors may be able to secure even more impressive gains, perhaps in the region of 20x, if they invest in the right crypto presales. Here is a list of crypto presales reviewed by the team at Cryptonewscom.
South Korean regulator provides guidance on security tokens.
Digital assets that fit the descriptions for security tokens will be regulated under the country’s Capital Markets Act.
South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country.
In a press release, the Financial Services Commission (FSC) highlighted that digital assets that fit the characteristics laid out in the country’s Capital Markets Act will be treated as securities.
The law considers securities as financial investments where investors are not required to make additional payments after their original investment. The FSC also provided examples of which digital assets will most likely be classified as securities. According to the FSC, this may include tokens that provide a stake in business operations, gives holders rights to dividends or residual assets, or provide profit to the investors.
Cryptocurrencies that fit the descriptions of security tokens will be regulated under the country’s Capital Markets Law. Meanwhile, digital assets that do not fit the characteristics of securities will be governed by other upcoming regulations.
According to the FSC, token issuers and brokers like crypto exchanges will evaluate which crypto will be classified as securities based on the regulations. The regulator also pointed out that the evaluation will be case-by-case.
The financial regulator also noted that the new guidance is part of preparations for the legalization, issuing and distribution of security tokens within the country.
South Korea has actively participated in the crypto ecosystem. On Jan. 19, the city of Busan revealed plans to establish a decentralized digital commodities exchange. Government officials noted that the platform would begin its operations this year.
Apart from this, the country’s Ministry of Justice also plans to deploy a tracking system for crypto. On Jan. 29, the South Korean government said it would introduce a tracking system to combat money laundering efforts and recover funds connected to criminal activities.
Digital assets that fit the descriptions for security tokens will be regulated under the country’s Capital Markets Act.
South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country.
In a press release, the Financial Services Commission (FSC) highlighted that digital assets that fit the characteristics laid out in the country’s Capital Markets Act will be treated as securities.
The law considers securities as financial investments where investors are not required to make additional payments after their original investment. The FSC also provided examples of which digital assets will most likely be classified as securities. According to the FSC, this may include tokens that provide a stake in business operations, gives holders rights to dividends or residual assets, or provide profit to the investors.
Cryptocurrencies that fit the descriptions of security tokens will be regulated under the country’s Capital Markets Law. Meanwhile, digital assets that do not fit the characteristics of securities will be governed by other upcoming regulations.
According to the FSC, token issuers and brokers like crypto exchanges will evaluate which crypto will be classified as securities based on the regulations. The regulator also pointed out that the evaluation will be case-by-case.
The financial regulator also noted that the new guidance is part of preparations for the legalization, issuing and distribution of security tokens within the country.
South Korea has actively participated in the crypto ecosystem. On Jan. 19, the city of Busan revealed plans to establish a decentralized digital commodities exchange. Government officials noted that the platform would begin its operations this year.
Apart from this, the country’s Ministry of Justice also plans to deploy a tracking system for crypto. On Jan. 29, the South Korean government said it would introduce a tracking system to combat money laundering efforts and recover funds connected to criminal activities.
🤖United Telegram Bot Playground: Unique Token Natural Growth Algorithm powered by AI inside Telegram Bot
Research in the web: United Telegram bot
Price Forecast 0.035 (28%+) In 10-14 Days
🕰 Daily Numbers
➖➖➖➖➖➖
💎 Price: 0.02362$
Updated: 7 min. ago
Your gains: +488.27$
➖➖➖➖➖➖
📅 History change
24 hours: +5.31% ↗️
7 days: +16.79% ↗️
30 days: +18.10% ↗️
@UnitedTeleBot - UTB.ai Whitepaper
Powered By AI with small team behind the Telegram
@UnitedTeleBot
Research in the web: United Telegram bot
Price Forecast 0.035 (28%+) In 10-14 Days
🕰 Daily Numbers
➖➖➖➖➖➖
💎 Price: 0.02362$
Updated: 7 min. ago
Your gains: +488.27$
➖➖➖➖➖➖
📅 History change
24 hours: +5.31% ↗️
7 days: +16.79% ↗️
30 days: +18.10% ↗️
@UnitedTeleBot - UTB.ai Whitepaper
Powered By AI with small team behind the Telegram
@UnitedTeleBot
Argo CEO follows resignation trend after company acquisition by Galaxy Digital.
The CEO of the cryptocurrency miner Argo Blockchain is the second executive to step down from the company after its acquisition by Galaxy Digital.
The cryptocurrency miner Argo continues to undergo a series of company changes in light of its major acquisition and newly filed lawsuit.
Peter Wall, the CEO of Argo Blockchain, announced his resignation from his executive position on Feb. 9.
According to the announcement, Wall will remain an adviser to Argo throughout the next three months to support the transition out of the position. He also commented that he was “pleased” to have spearheaded the recent Galaxy Digital acquisition deal.
In the same announcement, the company also revealed the resignation of Argo board member Sarah Gow. This development is due to health reasons.
However, just one week before these company changes, Argo lost its chief financial officer Alex Appleton in yet another resignation.
That announcement, on Feb. 1, said Appleton resigned to “pursue other opportunities,” according to a filing with the London Stock Exchange. This coincided with the finalization of the sale of the Helios facility to Galaxy Digital Holdings.
Appleton had been with the company in his executive role since September 2020.
This is the latest development in a series of changes for Argo, which began in late December 2022 when it reported insufficient funds and little assurance of avoiding filing for Chapter 11 bankruptcy.
A few weeks after this announcement, the company revealed that it sold its top Helios mining facility to the global crypto-focused financial services firm Galaxy Digital for $65 million. This helped Argo reduce its total debt by $41 million.
The acquisition was a factor that helped Argo regain compliance with the Nasdaq minimum bid price rule. This entails maintaining the stock’s minimum bid price of $1 for 30 straight trading days.
However, a lawsuit filed on Jan. 26 targeted Argo and several of its executives and board members for failing to disclose key information to investors.
The case claims the company failed to disclose its susceptibility toward capital constraints, electricity costs and network difficulties.
The CEO of the cryptocurrency miner Argo Blockchain is the second executive to step down from the company after its acquisition by Galaxy Digital.
The cryptocurrency miner Argo continues to undergo a series of company changes in light of its major acquisition and newly filed lawsuit.
Peter Wall, the CEO of Argo Blockchain, announced his resignation from his executive position on Feb. 9.
According to the announcement, Wall will remain an adviser to Argo throughout the next three months to support the transition out of the position. He also commented that he was “pleased” to have spearheaded the recent Galaxy Digital acquisition deal.
In the same announcement, the company also revealed the resignation of Argo board member Sarah Gow. This development is due to health reasons.
However, just one week before these company changes, Argo lost its chief financial officer Alex Appleton in yet another resignation.
That announcement, on Feb. 1, said Appleton resigned to “pursue other opportunities,” according to a filing with the London Stock Exchange. This coincided with the finalization of the sale of the Helios facility to Galaxy Digital Holdings.
Appleton had been with the company in his executive role since September 2020.
This is the latest development in a series of changes for Argo, which began in late December 2022 when it reported insufficient funds and little assurance of avoiding filing for Chapter 11 bankruptcy.
A few weeks after this announcement, the company revealed that it sold its top Helios mining facility to the global crypto-focused financial services firm Galaxy Digital for $65 million. This helped Argo reduce its total debt by $41 million.
The acquisition was a factor that helped Argo regain compliance with the Nasdaq minimum bid price rule. This entails maintaining the stock’s minimum bid price of $1 for 30 straight trading days.
However, a lawsuit filed on Jan. 26 targeted Argo and several of its executives and board members for failing to disclose key information to investors.
The case claims the company failed to disclose its susceptibility toward capital constraints, electricity costs and network difficulties.
🏈 $57 Risk-Free Bets for the Super Bowl With Duelbits
This weekend is time for the 57th Super Bowl when Kansas City Chiefs will face the Philadelphia Eagles at the State Farm Stadium.
How to get the Risk-Free Bet
• Place a single bet, between $5-$57 on any Pre-Match market on Super Bowl 57. The single must be placed at minimum 1.5 odds.
• If your Risk-Free Bet loses, you will be given a Free Bet token to the equivalent stake, within 24 hours.
The first Pre-Match bet placed will be eligible, any other bets after this are not considered.
Who do you think is going to lift the Lombardi Trophy in Arizona? Whatever happens Duelbits have you covered. Get up to a $57 Risk-Free Bet on Superbowl 57!
Bet Now To Win
This weekend is time for the 57th Super Bowl when Kansas City Chiefs will face the Philadelphia Eagles at the State Farm Stadium.
How to get the Risk-Free Bet
• Place a single bet, between $5-$57 on any Pre-Match market on Super Bowl 57. The single must be placed at minimum 1.5 odds.
• If your Risk-Free Bet loses, you will be given a Free Bet token to the equivalent stake, within 24 hours.
The first Pre-Match bet placed will be eligible, any other bets after this are not considered.
Who do you think is going to lift the Lombardi Trophy in Arizona? Whatever happens Duelbits have you covered. Get up to a $57 Risk-Free Bet on Superbowl 57!
Bet Now To Win
Terra Luna Classic Price Prediction as LUNC Spikes Up.
Terra Luna Classic price seems poised to print a series of green candles after bouncing off support at $0.0001584. LUNC trades at $0.0001666 after accruing almost 5% in gains on the day. If the technical picture stays bullish, Terra Luna Classic price may close the gap to $0.0002, where bulls are expected to push for an aggressive breakout from an ascending triangle pattern.
The daily time frame chart shows the formation of an ascending triangle pattern, with the potential to break out to $0.0002764. Ascending triangles come into the picture when the asset faces a horizontal resistance level and a slope of higher lows.
Attempts to push above the resistance level tend to fail several times but bulls often do not give up. As they gain strength, bolstered by the slope of higher lows, a breakout materializes above the triangle. If the resistance is too strong, the breakout shelves altogether and the triangle’s effectiveness fades.
For that reason, traders should closely watch the price movements within the triangle. Initial buy orders could be placed above the slope of higher lows for a plausible profit booking at the horizontal resistance. The second batch of buy orders may be triggered above resistance, as highlighted by the triangle’s x-axis at $0.0002.
Terra Luna Classic price expects a 36.44% move above the x-axis resistance. This breakout target equals the distance between the widest points of the triangle extrapolated above the resistance, as highlighted at $0.0002.
As Terra Luna Classic price gains momentum, more investors are attracted to join the uptrend. The Stochastic oscillator reveals that buyers have the upper hand by lifting from the oversold region. Traders betting on long positions in LUNC should consider staying put for gains above $0.0002.
Terra Luna Classic price seems poised to print a series of green candles after bouncing off support at $0.0001584. LUNC trades at $0.0001666 after accruing almost 5% in gains on the day. If the technical picture stays bullish, Terra Luna Classic price may close the gap to $0.0002, where bulls are expected to push for an aggressive breakout from an ascending triangle pattern.
The daily time frame chart shows the formation of an ascending triangle pattern, with the potential to break out to $0.0002764. Ascending triangles come into the picture when the asset faces a horizontal resistance level and a slope of higher lows.
Attempts to push above the resistance level tend to fail several times but bulls often do not give up. As they gain strength, bolstered by the slope of higher lows, a breakout materializes above the triangle. If the resistance is too strong, the breakout shelves altogether and the triangle’s effectiveness fades.
For that reason, traders should closely watch the price movements within the triangle. Initial buy orders could be placed above the slope of higher lows for a plausible profit booking at the horizontal resistance. The second batch of buy orders may be triggered above resistance, as highlighted by the triangle’s x-axis at $0.0002.
Terra Luna Classic price expects a 36.44% move above the x-axis resistance. This breakout target equals the distance between the widest points of the triangle extrapolated above the resistance, as highlighted at $0.0002.
As Terra Luna Classic price gains momentum, more investors are attracted to join the uptrend. The Stochastic oscillator reveals that buyers have the upper hand by lifting from the oversold region. Traders betting on long positions in LUNC should consider staying put for gains above $0.0002.
🏈 $57 Risk-Free Bets for the Super Bowl With Duelbits
This weekend is time for the 57th Super Bowl when Kansas City Chiefs will face the Philadelphia Eagles at the State Farm Stadium.
How to get the Risk-Free Bet
• Place a single bet, between $5-$57 on any Pre-Match market on Super Bowl 57. The single must be placed at minimum 1.5 odds.
• If your Risk-Free Bet loses, you will be given a Free Bet token to the equivalent stake, within 24 hours.
The first Pre-Match bet placed will be eligible, any other bets after this are not considered.
Who do you think is going to lift the Lombardi Trophy in Arizona? Whatever happens Duelbits have you covered. Get up to a $57 Risk-Free Bet on Superbowl 57!
Bet Now To Win
This weekend is time for the 57th Super Bowl when Kansas City Chiefs will face the Philadelphia Eagles at the State Farm Stadium.
How to get the Risk-Free Bet
• Place a single bet, between $5-$57 on any Pre-Match market on Super Bowl 57. The single must be placed at minimum 1.5 odds.
• If your Risk-Free Bet loses, you will be given a Free Bet token to the equivalent stake, within 24 hours.
The first Pre-Match bet placed will be eligible, any other bets after this are not considered.
Who do you think is going to lift the Lombardi Trophy in Arizona? Whatever happens Duelbits have you covered. Get up to a $57 Risk-Free Bet on Superbowl 57!
Bet Now To Win
SBF and FTX fraud ‘aided and abetted’ by Silvergate Bank, alleges lawsuit.
The filing is the latest proposed class action in a string of lawsuits aimed at Silvergate over the last two months about its links with Sam Bankman-Fried and defunct crypto exchange FTX.
Silvergate Bank and its CEO Alan Lane have been accused of “aiding and abetting” a “multibillion-dollar fraudulent scheme orchestrated by Sam Bankman-Fried (SBF)” and two of his entities, FTX and Alameda Research, in a newly proposed class-action lawsuit.
The proposed class-action lawsuit was filed in the United States District Court for the Northern District of California on Feb. 14 by lawyers representing a San Francisco-based FTX user who was frozen out of around $20,000 in crypto when the exchange collapsed last year.
Plaintiff Soham Bhatia alleges that Silvergate Bank, its parent company Silvergate Capital Corporation and CEO Alan Lane were aware of the use of FTX customer funds by Alameda Research and has accused them of concealing “the true nature of FTX” from its customers.
“At all relevant times, Silvergate, Bankman-Fried and Lane were each co-conspirators of the other,” according to the lawsuit, adding:
The lawsuit alleges Silvergate and Lane aided, abetted, encouraged and substantially assisted Bankman-Fried in jointly perpetrating a fraudulent scheme upon Plaintiff and the class.
“By aiding, abetting, encouraging and substantially assisting the wrongful acts, omissions and other misconduct alleged above, Defendants acted with an awareness of their wrongdoing and realized that their conduct would substantially aid the accomplishment of their illegal design.”
The suit seeks a combination of damages, restitution and disgorgement of profits with the amount to be determined in trial.
However, the lawsuit is yet to be certified by the district court, which is a necessary step before it can proceed as a class action.
The latest proposed lawsuit is just another class-action complaint against Silvergate over the last two months.
The filing is the latest proposed class action in a string of lawsuits aimed at Silvergate over the last two months about its links with Sam Bankman-Fried and defunct crypto exchange FTX.
Silvergate Bank and its CEO Alan Lane have been accused of “aiding and abetting” a “multibillion-dollar fraudulent scheme orchestrated by Sam Bankman-Fried (SBF)” and two of his entities, FTX and Alameda Research, in a newly proposed class-action lawsuit.
The proposed class-action lawsuit was filed in the United States District Court for the Northern District of California on Feb. 14 by lawyers representing a San Francisco-based FTX user who was frozen out of around $20,000 in crypto when the exchange collapsed last year.
Plaintiff Soham Bhatia alleges that Silvergate Bank, its parent company Silvergate Capital Corporation and CEO Alan Lane were aware of the use of FTX customer funds by Alameda Research and has accused them of concealing “the true nature of FTX” from its customers.
“At all relevant times, Silvergate, Bankman-Fried and Lane were each co-conspirators of the other,” according to the lawsuit, adding:
The lawsuit alleges Silvergate and Lane aided, abetted, encouraged and substantially assisted Bankman-Fried in jointly perpetrating a fraudulent scheme upon Plaintiff and the class.
“By aiding, abetting, encouraging and substantially assisting the wrongful acts, omissions and other misconduct alleged above, Defendants acted with an awareness of their wrongdoing and realized that their conduct would substantially aid the accomplishment of their illegal design.”
The suit seeks a combination of damages, restitution and disgorgement of profits with the amount to be determined in trial.
However, the lawsuit is yet to be certified by the district court, which is a necessary step before it can proceed as a class action.
The latest proposed lawsuit is just another class-action complaint against Silvergate over the last two months.
Former FTX exec will plead guilty to federal charges with a deal.
Nishad Singh, the bankrupt exchange’s former director of engineering, went to a proffer session with prosecutors last month and is reportedly nearing a plea deal.
Nishad Singh, the co-founder and former chief engineer of bankrupt crypto exchange FTX, is working on a plea deal with prosecutors, Bloomberg reported on Feb. 17. The deal, which would see the 27-year-old Singh plead guilty to charges related to FTX’s collapse, has yet to be finalized, the report said.
Singh would be following in the footsteps of former FTX chief technology officer Gary Wang and former Alameda CEO Caroline Ellison, who pleaded guilty to federal fraud charges in December after reaching deals with prosecutors. Former FTX CEO Sam “SBF” Bankman-Fried has pleaded innocent to eight federal charges and is currently living with his parents in California.
Singh, a childhood friend of SBF’s brother Gabriel, was the author of some of FTX’s software and one of the roommates in SBF’s Bahamas penthouse. SBF told a Vox reporter shortly after the FTX collapse that Singh was “scared” and “ashamed and guilty” over the event.
Singh remained out of sight the longest among FTX’s leadership but reappeared in the first week of January for a proffer session at the office of the United States Attorney for the Southern District of New York. At a proffer session, an individual may be granted limited immunity to share their knowledge with prosecutors.
Federal criminal charges are only part of Singh’s legal worries. Singh and others from the FTX inner circle were subpoenaed on Feb. 14 in a class-action suit against venture capital firm Sequoia Capital and private equity firms Thoma Bravo and Paradigm.
Ellison and Wang have settled in cases brought against them by the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission, but Singh could potentially be subject to actions brought by those agencies too. Among the charges against SBF are campaign finance violations. Singh was also a major contributor to the U.S. Democratic candidates and causes, reportedly donating $9.3 million since 2020.
Nishad Singh, the bankrupt exchange’s former director of engineering, went to a proffer session with prosecutors last month and is reportedly nearing a plea deal.
Nishad Singh, the co-founder and former chief engineer of bankrupt crypto exchange FTX, is working on a plea deal with prosecutors, Bloomberg reported on Feb. 17. The deal, which would see the 27-year-old Singh plead guilty to charges related to FTX’s collapse, has yet to be finalized, the report said.
Singh would be following in the footsteps of former FTX chief technology officer Gary Wang and former Alameda CEO Caroline Ellison, who pleaded guilty to federal fraud charges in December after reaching deals with prosecutors. Former FTX CEO Sam “SBF” Bankman-Fried has pleaded innocent to eight federal charges and is currently living with his parents in California.
Singh, a childhood friend of SBF’s brother Gabriel, was the author of some of FTX’s software and one of the roommates in SBF’s Bahamas penthouse. SBF told a Vox reporter shortly after the FTX collapse that Singh was “scared” and “ashamed and guilty” over the event.
Singh remained out of sight the longest among FTX’s leadership but reappeared in the first week of January for a proffer session at the office of the United States Attorney for the Southern District of New York. At a proffer session, an individual may be granted limited immunity to share their knowledge with prosecutors.
Federal criminal charges are only part of Singh’s legal worries. Singh and others from the FTX inner circle were subpoenaed on Feb. 14 in a class-action suit against venture capital firm Sequoia Capital and private equity firms Thoma Bravo and Paradigm.
Ellison and Wang have settled in cases brought against them by the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission, but Singh could potentially be subject to actions brought by those agencies too. Among the charges against SBF are campaign finance violations. Singh was also a major contributor to the U.S. Democratic candidates and causes, reportedly donating $9.3 million since 2020.
Crypto Hub in the Making: Hong Kong Pushes Forward with Plans for Retail Crypto Trading📊
In a push toward reclaiming its position as a global crypto hub, Hong Kong has outlined plans to allow retail investors to trade certain digital currencies on licensed exchanges.
On Monday, Hong Kong's Securities and Futures Commission (SFC) published a consultation paper on its proposed regulatory regime for crypto trading platforms. The new rules are set to come into effect starting in June and will require all crypto platforms to be licensed by the SFC.
The regulator also said that retail investors would be allowed to trade certain “large-cap tokens” on licensed exchanges, given that safeguards such as knowledge tests, risk profiles, and reasonable limits on exposure are put in place.
The agency did not specify which large-cap tokens would be allowed. However, a report by the FT claimed Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, would be opened up to retail customers.
The SFC also put forward criteria for which cryptocurrencies would be available for trading. Exchanges would be responsible for vetting the team behind a token, marketing materials, and legal risks and finding out "how resistant it [the token's network] is to common attacks." Furthermore, the token should have a relatively large market capitalization.
The agency defined large-cap virtual assets as tokens "which are included in at least two 'acceptable indices' issued by at least two independent index providers," one of which should have experience in the traditional financial sector.
In a push toward reclaiming its position as a global crypto hub, Hong Kong has outlined plans to allow retail investors to trade certain digital currencies on licensed exchanges.
On Monday, Hong Kong's Securities and Futures Commission (SFC) published a consultation paper on its proposed regulatory regime for crypto trading platforms. The new rules are set to come into effect starting in June and will require all crypto platforms to be licensed by the SFC.
The regulator also said that retail investors would be allowed to trade certain “large-cap tokens” on licensed exchanges, given that safeguards such as knowledge tests, risk profiles, and reasonable limits on exposure are put in place.
The agency did not specify which large-cap tokens would be allowed. However, a report by the FT claimed Bitcoin and Ethereum, the two largest cryptocurrencies by market cap, would be opened up to retail customers.
The SFC also put forward criteria for which cryptocurrencies would be available for trading. Exchanges would be responsible for vetting the team behind a token, marketing materials, and legal risks and finding out "how resistant it [the token's network] is to common attacks." Furthermore, the token should have a relatively large market capitalization.
The agency defined large-cap virtual assets as tokens "which are included in at least two 'acceptable indices' issued by at least two independent index providers," one of which should have experience in the traditional financial sector.
