Bitcoin (BTC) traded moderately higher on Oct. 3 after giving back $1,300 of gains into the daily close. BTC/USD 1-hour chart. Source: TradingView Bitcoin bulls slip at $28,600 Data from Cointelegraph Markets Pro and TradingView showed BTC price action focusing on $27,500. The pair unwound overnight, descending from six-week highs near $28,600 to bounce at $27,335 before stabilizing. Despite the…
Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, received a license to offer crypto brokerage services to accredited investors and institutions in Singapore. On Oct. 3, Sygnum Singapore announced receiving its Major Payment Institution Licence (MPIL) from the Monetary Authority of Singapore (MAS). Speaking to Cointelegraph, a Sygnum Singapore spokesperson revealed that the company transitioned from in-principle approval to…
Day one trading volume across all nine products stood at less than $2 million. Source: https://cointelegraph.com/public/index.php/news/ethereum-futures-etfs-launch-low-volume-trading-first-day
The Chainalysis workforce will be reduced by around 150 as the bear market bites deeper. Source: https://cointelegraph.com/app/public/index.php/news/crypto-firm-chainalysis-layoff-15-percent-staff-citing-market-conditions
Crypto-friendly Silvergate Bank ultimately collapsed this year due to over-dependence on risky crypto deposits and nepotism that led to ineffective management, according to inspectors at the Federal Reserve. In a Sept. 27 executive summary of its review into the collapse of Silvergate Bank, the Federal Reserve Board’s Office of Inspector General pointed the finger at Silvergate’s change in strategy to…
Embattled crypto lender Celsius Network has told a judge it plans to start paying back its customers by year’s end, amid an Oct. 2 hearing seeking approval for its reorganization plan. In his opening statements at the confirmation hearing in New York, Celsius’ legal counsel Christopher Koenig said the new company dubbed “NewCo” will emerge from the proceedings with $450…
The Chainalysis workforce will be reduced by around 150 as the bear market bites deeper. Source: https://cointelegraph.com/public/index.php/news/crypto-firm-chainalysis-layoff-15-percent-staff-citing-market-conditions
Recent crypto advancements in Hong Kong could provide a “potential tailwind” to lift crypto activity in the East Asian region, which has mainly suffered from a China-wide ban on trading activities since 2019. Cryptocurrency value received in East Asia amounted to just 8.8% of the world between July 2022 and June 2023, according to an Oct. 2 report from Chainalysis,…
Blockchain analytics firm Chainalysis has reduced its headcount by another 15% this week, citing the need to reduce expenses due to continued bear market blues. On Oct. 3, Chainalysis confirmed to Cointelegraph that it had made the difficult decision to part ways with 15% of its employees, amounting to approximately 135 staff. “While Chainalysis continues to be well positioned for…
Institutions love Solana, according to CoinShares’ latest crypto fund report, even when the rest of the crypto space is flat. “Very little activity was seen in the altcoin space,” wrote James Butterfill, head of research for CoinShares, noting one exception: Solana. Solana has had a bright 2023, with 27 weeks worth of inflows versus merely four weeks of selloffs. The…
