Bitcoin could still have much further to fall next year, according to analysts at Standard Chartered. The world’s first and biggest cryptocurrency could plummet as low as $5,000 in one scenario imagined by the banking group, as the bursting of the “crypto bubble” has ramifications throughout 2023. “Yields plunge along with technology shares, and while the Bitcoin sell-off decelerates, the…
Bybit and Swyftx are the latest victims of the spreading crypto contagion, with both firms announcing job cuts in the wake of FTX collapse. “Difficult decision made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing re-organization of the business as we move to refocus our efforts for…
Sam Bankman-Fried, the former CEO of now-bankrupt cryptocurrency exchange FTX has declined to testify before the United States Congress until he’s “finished learning and reviewing what happened.” Rep. Waters, and the House Committee on Financial Services: Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain.…
Metaverse and NFT-focused cryptocurrencies, including Axie Infinity (AXS),Flow (FLOW), Apecoin (APE), and Sandbox (SAND), have posted significant gains over the past 24 hours. Play-to-earn (P2E) gaming platform Axie Infinity’s AXS governance token soared 25.6% in the last 24 hours, making it the largest gainer among the top 100 cryptocurrencies, per Coingecko. As of this writing, AXS trades at around $8.54…
Crypto exchange KuCoin hired the international accounting firm Mazars for a third-party audit of its Proof-of-Reserves (PoR). According to an announcement on Dec. 5, the verification will provide the exchange customers additional transparency and reporting on whether their in-scope assets are collateralized, along with details on main, trade, margin, robot and contract accounts for Bitcoin (BTC) and Ethereum (ETH), as…
The Built With Bitcoin Foundation (BWB) has opened a new Bitcoin Technology Center in Ejisu, Ghana, a city in Greater Kumasi, as a legacy for the inaugural Africa Bitcoin Conference. The center will be run by Ghanians, for Ghanians, according to a press release sent to Bitcoin Magazine. BWB Founders Ray Youssef and Yusuf Nessary plan to reveal the campus…
The value of Bitcoin (BTC) is being touted to drop as low as $5,000 in 2023 according to Standard’s Chartered global research head and chief strategist. As initially reported by Bloomberg, a note to investors published on Dec. 4 from the multinational bank’s chief strategist Eric Robertsen weighed-up a potential drop in Bitcoin’s value correlated with a surge in physical…
According to the latest reports from the Brazilian tax authority (RFB), institutions have again broken crypto purchasing records in Brazil. The organization registered that almost 42,000 companies purchased some kind of cryptocurrency during October, a new record that overturns the 40,161 that declared having purchased crypto during September. Brazilian Companies Purchase Crypto in Waves More and more companies…
Bitcoin (BTC) starts its first full week of December at three-week highs as bulls and bears battle on. After a weekly close just above $17,000, BTC/USD seems determined to make the most of relief on stocks and a weakening U.S. dollar. As the United States gears up to release November inflation data, the dollar looks to be a key item…
Regulators worldwide see central bank digital currencies (CBDCs) as a way to enhance fiat capabilities by inheriting the financial prowess of technologies that power cryptocurrencies. Pakistan joined this list by announcing new regulations to ensure the launch of an in-house CBDC by 2025. The State Bank of Pakistan (SBP) signed in new laws for Electronic Money Institutions (EMIs) — non-bank…
