Category: crypto

The D.C. Circuit Court ruled that prediction markets for U.S. elections, like Kalshi, are legal, rejecting the CFTC’s attempt to block them. The court found no evidence of public harm from these markets. This decision supports the future of crypto-related prediction platforms amid conflicting views among lawmakers on regulation.

Bitcoin (BTC) has entered its historically strong fourth quarter, but weak demand growth raises uncertainty about a price rally to $85,000-$100,000. Since July, demand stagnated, contrasting with April’s surge. Spot ETF activity presents mixed signals, suggesting potential for renewed demand, but without significant buying pressure, targets may remain elusive.

The Australian Federal Police’s Criminal Assets Confiscation Taskforce seized $6.4 million in cryptocurrency linked to the creator of the Ghost app, used for illicit activities. This operation highlights AFP’s expertise in targeting organized crime, leading to multiple arrests and seizures, while advocating for real-time crypto monitoring to prevent criminal activity.

Telegram CEO Pavel Durov clarified the platform’s privacy policy, stating it has shared criminals’ IP addresses with authorities since 2018. The recent update allows for sharing user data in response to legal requests while maintaining Telegram’s commitment to privacy. Durov affirmed the platform aims to protect users from abuse.

Franklin Templeton, managing over $1.4 trillion in assets, expanded its tokenized US treasuries fund, FOBXX, to the Aptos blockchain, complementing its existing platforms like Avalanche and Polygon. This move integrates traditional finance with decentralized networks, while Aptos continues to grow, showing significant daily transactions and $545 million in DeFi activities.

Kraken will end support for Monero (XMR) in the European Economic Area by October 31, 2024, due to regulatory changes. Trading and deposits will cease, and open orders will close. Users can withdraw XMR until December 31, 2024; unclaimed funds will convert to Bitcoin. Monero’s removal reflects tracking challenges. XMR’s value dropped 5%.

Research on a decade of Bitcoin address data reveals that increased whale activity in 2022 indicates strategic purchases during price dips, highlighting a bullish sentiment among large investors during challenging market conditions. This behavior suggests shifts in investor strategies amidst fluctuating prices.

A survey by Consensys and HarrisX shows nearly half of US voters support pro-crypto policies in elections, with 49% deeming it important. Among crypto owners, 85% back pro-crypto candidates. Voters seek regulatory clarity, with the SEC and Treasury favored for oversight. The crypto voting bloc’s influence is growing.

Former BitMEX CEO Arthur Hayes views Bitcoin’s rise as driven by global monetary policies and money printing rather than regulations. He predicts continued growth for Bitcoin and Ethereum, citing economic instability and potential US interest rate drops. Hayes urges cautious investment and highlights blockchain innovations in AI as future growth areas.

During Q3, over $750 million was lost to crypto hacks and scams, bringing 2023 losses to over $1.9 billion. Major incidents included a $238 million phishing attack and a $231 million hack of WazirX. Phishing and private key compromises were the main methods used, particularly impacting Ethereum.