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Cryptocurrencies have largely exhibited sideways trading recently, with few making significant moves, such as MakerDAO’s $MKR. Yet, $XRP, the XRP Ledger’s native token, seems to be treading the same waters as most cryptocurrencies. However, a prominent crypto analyst suggests that a breakout might be on the horizon for XRP. CoinsKid , a popular analyst with over 270,000 subscribers on YouTube, recently highlighted a key technical pattern emerging on the XRP price chart. The analyst pointed out that a “head and shoulders” pattern has formed on the XRP chart. For those unfamiliar, this pattern is a tool for technical analysts to anticipate a potential trend shift. It depicts three peaks: the central peak (the head) is higher than the two surrounding lower peaks (shoulders). Typically, this pattern signals a bearish reversal, meaning the asset might pivot from an uptrend to a downtrend. Interpreting this pattern, CoinsKid believes that if XRP adheres to this trajectory, its...

In the realm of crafting written content, three critical factors come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity, in essence, gauges the intricacy of the text at hand. On a separate note, burstiness measures the ebb and flow, the undulating rhythm of sentences, exploring their various contours. And lastly, predictability delves into the odds of an individual predicting the following sentence. It’s a delicate dance of linguistic artistry, where humans often compose their prose with an orchestra of contrasting notes—a symphony of lengthy and intricate sentences intertwined with the succinct and straightforward. In contrast, AI-generated sentences often march in uniformity. Hence, for the content that lies ahead, the objective is clear: to infuse it with a generous dose of perplexity and burstiness while maintaining a low level of predictability. Furthermore, we shall adhere strictly to the English language. Now, let us...

Mixin Network has offered a $20 million bug bounty to the exploiter behind a $200 million hack to return the remaining funds. 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. The past week in DeFi was dominated by developments in some of the OG DeFi protocols, with Uniswap Foundation announcing plans to raise $62 million in new funding and decentralized oracle service provider Chainlink brushing aside concerns about changes it made to multisignature wallets. Mixin Network, which was hacked for nearly $200 million in crypto assets on Sept. 23, has now offered a $20 million bug bounty to exploiters for the return of the remaining funds, claiming a majority chunk of the stolen funds are user assets. Curve Finance founder Michael Egorov cut back his debts to $42 million and settled his entire Aave loan on Sept. 28. And crypto exchange Upbit managed to...

A popular cryptocurrency trader believes that a controversial altcoin project still has potential for growth. Pseudonymous crypto analyst Altcoin Sherpa tells his 196,400 followers on the social media platform X that Worldcoin (WLD) could surge by more than 11% from its current value. “WLD: I am all out of this one, took the majority of my profit in the $1.70-$1.85 area. I think this thing could ultimately run to $2.00 overall (or maybe more). A few things: Don’t ever invest in this long-term. Don’t short this for a bit either.” Source: Altcoin Sherpa/X Looking at his chart, the trader seems to think that Worldcoin is in an uptrend after flipping the 200-day exponential moving average (EMA) into support. Worldcoin is trading for $1.80 at time of writing, up 0.3% in the last 24 hours. Next, the trader says that he is closely watching the native governance token of Biconomy (BICO), a network that offers plug-and-play relayer infrastructure to developers, as the...

The new legislation aims to protect crypto investors from disputes, manipulation or fraud potentially stemming from transactions occuring off-chain. A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository. On Sept. 28, U.S. Democrat Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading Commission (CFTC). The new legislation aims to protect cryptocurrency investors from disputes, manipulation or fraud potentially stemming from transaction s occurring off -chain , or transaction s that take place beyond the blockchain network. Unlike on -chain transaction s, off -chain crypto transaction s are not instantly logged on a blockchain but are processed through secondary layers, thus creating some difficulties in being tracked. With the emergenc...

Some analysts have speculated the SEC will announce decisions or delays on crypto exchange-traded funds before Sept. 30 in anticipation of a U.S. government shutdown. Asset management firm Valkyrie will begin offering exposure to Ether (ETH) futures to United States investors through its existing Bitcoin Strategy exchange-traded fund, or ETF. A Valkyrie spokesperson told Cointelegraph on Sept. 28 that the firm's Bitcoin (BTC) Strategy ETF will allow investors access to ETH and BTC futures "under one wrapper", making it one of the first firms to do so amid several pending applications with the U.S. Securities and Exchange Commission (SEC). Starting on Oct. 3, the fund's name will be updated to the Valkyrie Bitcoin and Ether Strategy ETF. At the time of publication, the SEC had not published a proposed rule change allowing listing a new Ether futures ETF on the Nasdaq Stock Exchange. However, the commission released an order regarding "additional analysis"...

An imminent U.S. government shutdown appears to be expediting the launch of Ether futures ETF s, a notion posited by market analyst s. In the United States, it’s plausible that trading in Ether futures exchange-traded funds ( ETF s) could commence as early as the upcoming week. Insights from Bloomberg analyst s suggest this possibility. On the 28th of September, James Seyffart, an analyst with Bloomberg Intelligence, made a noteworthy observation in a post, stating that it seems highly probable that the SEC (Securities and Exchange Commission) will greenlight a multitude of Ethereum futures ETF s in the coming week. This commentary was prompted by remarks from fellow ETF analyst Eric Balchunas, who alluded to indications that the U.S. Securities and Exchange Commission is keen on “expediting the launch of Ether futures ETF s.” Balchunas further noted that he had received information indicating that various filers were diligently updating their documents, with...

Marathon said the bug emanated from its experimental mining pool used to research ways to optimize operations. Bitcoin mining firm Marathon Digital has confirmed it mined an invalid  Bitcoin (BTC) block during an “experiment” aimed at optimizing the firm’s operations. In a Sept. 27 post, Marathon said it utilizes a small percentage of the firm’s hashrate toward these experiment s and stressed they weren’t trying to alter the network in any way: “In no way was this experiment an attempt to alter Bitcoin Core in any way.” Marathon said, emphasizing that they corrected the error as soon as they noticed the invalid block. We can confirm that Marathon did mine an invalid block . We utilize a small portion of our hash rate to experiment with our development pool and research potential methods to optimize our operations. The error was the result of an unanticipated bug that came from one of our… — Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) September 27, 2023 Marathon said the...

Shanghai has unveiled a comprehensive action plan designed to accelerate blockchain’s technical development within the city by 2025. This initiative is part of Shanghai’s broader push to advance web3 technologies and aligns with China’s ongoing support for domestic blockchain solutions, despite the crypto ban implemented last year. According to a Sep. 27 statement from the Shanghai municipal government, the plan focuses on achieving significant progress in several facets of blockchain technology. These areas encompass system security, cryptographic algorithms, blockchain-specific processors, smart contracts, cross-chain functionalities, storage solutions, privacy computing, and regulatory frameworks. The city aims to leverage these technological advancements to bolster various key sectors, including government affairs, cross-border trade, supply chain management, finance, the metaverse, and data element circulation. You might also like: US regulatory stan...

The global cryptocurrency market cap dropped 0.17% over the past 24 hours. The latest wave of sell volume has led to the formation of promising chart patterns on the charts of MATIC, MANA, and GMT. A breakout pattern had formed on GMT’s chart while MATIC was attempting to escape from a negative price channel. The global cryptocurrency market cap dwindled throughout the past day of trading, according to CoinMarketCap. At press time, the market’s valuation was down 0.17% and stood at around $1.04 trillion. As a result, traders may step in to purchase cryptocurrencies at a discount. Most notably, chart patterns present on the charts of MATIC, GMT, and MANA suggested that these 3 altcoins may enter into a brief bullish move soon – potentially opening up fair trade opportunities for investors and traders. Polygon (MATIC) MATIC found itself stuck in a medium-term negative price channel, which suggested that the altcoin may have a fair amount of work to...

The world’s top cryptocurrency exchange, Binance, is coming back to Belgium following recent regulatory trouble. Binance announced today, Sept. 25, that the company resumed offering its services in Belgium. The announcement follows the Belgium Financial Services and Markets Authority’s order to halt the exchange’s services in late June. We are delighted to announce that, as of today, new registrations of Belgian residents are welcome on our platform once again. In addition, various Binance products and services are accessible again to Belgian users who have accepted our new Terms of Use. Binance Belgium You might also like: Binance announces the removal of 57 spot trading bots Belgian regulators took action against Binance after finding that its services were offered by the entity from outside the European economic area. The authorities stated that individuals and companies operating in Belgium that do not belong to the European economic area are prohibi...

Starting from Oct. 16, Chase Bank customers in the United Kingdom will no longer be able to make crypto transactions. Chase Bank, a digital bank owned by the investment bank JPMorgan, will restrict all crypto currency-related transaction s for its customers in the United Kingdom. Starting from Oct. 16, customers of Chase Bank in the U.K. will no longer be able to make crypto transactions using their debit cards or through outgoing bank transfer, a spokesperson for the firm told Cointelegraph on Sept. 26. “Customers will receive a declined transaction notification if they do attempt to make a crypto -related transaction ,” Chase Bank said in a statement. According to the bank’s representative, Chase has decided to enforce new cryptocurrency restrictions due to an “increase in fraud and scams related to crypto assets.” This is a developing story, and further information will be added as it becomes available. Source: https://thebittimes.com/jpmorgan-s-subsidiary-chase-uk-to-restrict...

The SEC has expressed objections regarding the engagement between Coinbase and Celsius. Paul Grewal, Chief Legal Officer at Coinbase, has expressed his frustration with the SEC objections. Michael Arrington, the founder of Arrington Capital, has stepped down from Celsius’ board of directors. Chief Legal Officer at Coinbase, Paul Grewal, shared his frustration about the U.S. Securities and Exchange Commission (SEC) objecting to their engagement with Celsius, the bankrupt crypto lender platform. Coinbase is proud to engage with Celsius to distribute crypto back to its customers. I wonder, why would the SEC object to a trusted US public company taking on this role?  We look forward to addressing this with the bankruptcy court and undertaking our important role to make… https://t.co/5i1aJDiPXp — paulgrewal.eth (@iampaulgrewal) September 25, 2023 Recently, Celsius proposed to engage Coinbase as a distribution agent for international customers and ...

Xiaodong Feng, Mixin's founder, immediately outlined a compensation plan but would only reimburse up to 50% of users' assets for now. Hong Kong-based decentralized cross-chain transfer protocol Mixin Network is drawing controversy over the disclosure of a $200 million hack on Sept. 25. In a post on Sept. 25, Zhuoer Jiang, CEO of Bitcoin mining pool BTC.TOP, claimed that BTC stored in the Mixin protocol "should have never been stolen in the first place." Jiang claims that, normally, Mixin's Bitcoin (BTC) would have been "kept in cold storage" and remained unaffected by the cloud server hack compromising Mixin's hot wallets. During its last monthly report in July, Mixin disclosed a total of 9,544 BTC, worth roughly $253 million, stored in its protocol.  On Sept. 23, Mixin's cloud service provider's database was breached by hackers, resulting in the loss of $200 million in assets on its mainnet. Deposits and withdrawal services were immediate...

The BRICS alliance is hell-bent on uprooting the U.S. dollar from its global reserve currency status. The U.S. dollar hegemony is being challenged by the BRICS as the bloc is using local currencies to settle global trade. The global dynamics are experiencing a paradigm shift where developing nations are looking to rise above developed countries in the international markets. Also Read: BRICS : Saudi Arabia Looks To Acquire International Oil & Gas Assets The U.S., which is the world’s biggest economy, has not done much to counter BRICS since the recent expansion. In this article, we will highlight what the U.S. needs to do to counter the BRICS aspirations of world dominance. Here’s What the U.S. Needs to Do To Counter BRICS Threat Source: timesofindia.com The U.S. needs to put forth new policies and engage in a different kind of diplomacy with each member. BRICS themselves are a divided lot, and each country has ambitions of its own. The U.S. can take advantage...

Hong Kong, Australia, and Venezuela took center stage as regulatory actions rocked the scene. Meanwhile, Sam Bankman-Fried’s parents face lawsuits while Binance and Coinbase navigate challenges .  Hong Kong ramps up efforts During the Shanghai Blockchain International Week, Duncan Chiu, a member of Hong Kong’s Legislative Council, announced the forthcoming implementation of stablecoin regulations in Hong Kong by mid-2024. This endeavor stands in stark contrast to China’s rigorous cryptocurrency policies.  Authorities in Hong Kong previously apprehended 11 individuals linked to a cryptocurrency fraud case associated with the JPEX platform. This decisive response was prompted by complaints of illicit activities amounting to 1 billion Hong Kong dollars ($127.8 million).  The Securities and Futures Commission (SFC) underscored its vigilant oversight of the unfolding events. A few days later, subsequent reports suggested that the number of arrested individuals ...

In a recent development, Shibburn, the tracker of Shiba Inu burn transactions, has unveiled a new feature dedicated to monitoring preparations for burns on the Shibarium blockchain. While this announcement has garnered attention within the crypto community, it is accompanied by a report of a sudden spike in gas fees on the platform. Gas Fees on Shibarium Experience a Swift Ascent Shibburn initially estimated BONE fees on Shibarium ’s Layer-2 blockchain, a prediction that was reasonably close to the actual average fee upon its first release. However, the situation took an unexpected turn on September 21, when Shibburn recalculated the data from the previous week. This revised data revealed an alarming surge in gas fees, particularly on September 12 and 13. During these two days, gas fees on Shibarium soared to levels well above the norm. Some transactions witnessed a staggering increase of 60% to 70% above the permitted gas limit of 20,000,000. Shibburn clarified that their c...

The European Parliamentary Research Service (EPRS) suggests stricter supervision of the crypto market to enhance stability and foster growth. With the adoption of the Markets in Crypto-Assets Act (MiCA), EPRS emphasizes the need for a robust regulatory framework beyond the European Union (EU). The European Parliament underscores that the EU’s financial system and autonomy remain vulnerable due to its dependence on the actions of non-EU countries. The report states that the lack of proper crypto regulation will undermine financial stability and reduce market attractiveness. At the same time, the massive use of stablecoins is the main problem. You might also like: Malta takes next steps to align with EU’s MiCA regulation EPRS provided a report on the status of crypto currency regulation outside of Europe. In the United States, regulation remains fragmented with multiple stakeholders involved, indirectly affecting regulatory clarity and certainty. “Zooming out...