Bitcoin is due to hit $45,000 by the end of 2023, with post-halving BTC price targets reaching a giant $250,000. Source: https://cointelegraph.com/app/public/index.php/news/bitcoin-moon-top-5-btc-price-predictions-2024-beyond
Month: November 2023
CME Bitcoin futures hit record high, but uncertainty looms above $36K
CME Bitcoin futures hit a two-year high, but options market data reflects investors’ hesitancy. Source: https://cointelegraph.com/app/public/index.php/news/cme-bitcoin-futures-hit-record-high-but-uncertainty-looms-above-36k
OpenSea lays off 50% of staff with severance in preparation for version 2.0 launch
Nonfungible token (NFT) marketplace OpenSea announced on Nov. 3 that it was laying off employees. Co-founder and CEO Devin Finzer broke the news on X (formerly Twitter), saying the company was launching OpenSea 2.0 with a smaller team. OpenSea launched in 2017, when NFTs were an innovation. It operates on a model comparable to eBay and Etsy and accepts payment…
Elon Musk Says xAI Chatbot Is ‘The Best that Currently Exists’ Ahead of Trial Launch
Elon Musk is following through on his plan to take on OpenAI—a company he co-founded in 2015 but later left—with an announcement today that his competing technology company, xAI, will let a limited number of users try its chatbot on Saturday. “Tomorrow, [xAI] will release its first AI to a select group,” Musk wrote on X, formerly Twitter. “In some…
Dogecoin Sweepstakes Case Heads to the Supreme Court
A federal judge has denied Coinbase’s motion to force a lawsuit over its Dogecoin sweepstakes into arbitration, allowing the case to proceed in court. The lawsuit alleges the crypto exchange misled users about requirements to enter its 2021 “Trade Doge, Win Doge” promotion. Filed in 2021, the class action lawsuit accused Coinbase of obscuring the fact that users could enter…
NFTs Are Back? Sales Jump 32% in October, Led by Ethereum
Crypto’s JPEG market is showing signs of life—despite mass layoffs at prominent marketplace OpenSea on Friday—as NFT trading volume grew by $99 million in October compared to the month before, according to a report released by crypto data firm DappRadar. “The yearlong downward trend in NFT trading has been broken,” DappRadar wrote, noting that NFT trading volume increased 32% from…
Will Caroline Ellison and Sam Bankman-Fried’s Other Co-Defendants Go to Prison?
Now that Sam Bankman-Fried is a convicted criminal likely destined for decades behind bars in a brutal federal prison, what fate will befall his former colleagues and co-defendants? Nishad Singh, FTX’s director of engineering, Gary Wang, the exchange’s chief technical officer, and Caroline Ellison, former CEO of FTX sister trading firm Alameda Research, all pleaded guilty last December to multiple…
FTX advisers sharing customers’ data with FBI: Report
Advisers for bankrupt crypto exchange FTX have been disclosing data from customers’ transactions and accounts with the Federal Bureau of Investigation (FBI), according to court documents seen by Bloomberg. In response to subpoenas issued by several FBI field offices during the past few months, FTX consultants turned over to law enforcement records of specific customers’ trades on the bankrupt crypto…
Multichain inside job? And SOL surges 80% in a month: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. A trader managed to exploit the brief opening of the Multichain cross-chain bridge, which was frozen since its exploit in July 2023, allowing the trader to turn $280,000 worth of Fantom’s (FTM)…
OpenSea Slashes NFT Marketplace Staff by 50%
OpenSea, the prominent NFT marketplace startup, has laid off about half of its staff, the company confirmed to Decrypt on Friday. A company representative told Decrypt that “~50% of employees are affected across all functions.” “Today, we’re re-orienting the team around ‘OpenSea 2.0,’ a big upgrade to our product—including the underlying technology, reliability, speed, quality, [and] experience,” OpenSea co-founder and CEO…