Category: crypto

Bitcoin (BTC) is testing key resistance at $65,000, crucial for bullish momentum, according to a Kraken report. A daily close above this level could signal further gains; failure may lead to a drop to $60,000. Meanwhile, Ethereum (ETH) and Solana (SOL) show mixed performance in current trading conditions.

Mira Murati, OpenAI’s CTO, has announced her departure after six and a half years, praising her team’s contributions to AI advancements. Her exit follows other leadership changes at the company, which is negotiating significant investments. OpenAI remains focused on innovation and ethical AI development amid increasing competition from rivals.

Crypto analysts suggest altcoins are breaking out, indicating a potential shift towards an altcoin-dominated market. While Bitcoin has outperformed altcoins recently, current trends show both markets gaining strength. Analysts note significant moving average breakouts for altcoins, hinting at a promising start for their recovery alongside Bitcoin.

Ethena Labs introduces UStb, a new stablecoin backed by BlackRock’s BUIDL fund, alongside its existing USDe. UStb offers a distinct risk profile, enhancing resilience against negative funding rates. Ethena aims to innovate in DeFi by providing diverse margin collateral options, with upcoming details on UStb’s integration into exchanges.

Following a $230 million hack, WazirX is working to recover assets and reassure users. A Singapore court granted a four-month moratorium for restructuring, requiring WazirX to disclose wallet addresses and respond to user inquiries. The exchange acknowledges the court’s decision as a step towards resolution, despite users facing potential losses.

Dubai’s Virtual Assets Regulatory Authority (VARA) introduced new marketing guidelines for virtual asset firms, effective Oct. 1, emphasizing risk disclaimers in advertising. The rules aim to protect investors amid the volatile crypto market and reflect a global trend toward stricter crypto advertising regulations. The UAE continues to strengthen its position in the crypto sector.

Post-TGE blockchain projects face significant fundraising hurdles, such as fragmented investor access and liquidity issues. Vellos is a new platform designed to tackle these challenges by creating a centralized marketplace for discounted tokens, enabling community engagement, facilitating easier token sales, and allowing protocols to focus on development and innovation.

Former Montenegro Justice Minister Andrej Milović raised concerns about a potential connection between the extradition of Terraform Labs co-founder Do Kwon and a South Korean airport concession deal. He alleged that Prime Minister Spajić shifted his stance on the concession, favoring South Korea after Kwon’s extradition ruling, suggesting personal ties to Kwon.

PayPal’s stablecoin, PYUSD, experienced a nearly 30% market cap drop, from over $1 billion to $712 million, primarily due to losses on Solana. Despite this, average daily transfer volume remained strong at $242.2 million. The decline is linked to reduced DeFi yields and changing incentive allocations amid new partnerships.

Bitcoin (BTC) increased by 5.4% in a week following a US interest rate cut. Analysts are divided on its future. Some, like Tom Dunleavy, see a positive macroeconomic setup for crypto, while others warn of potential volatility. Caution persists due to historical downtrends and ongoing macroeconomic uncertainties.