A nonfungible token (NFT) from the CryptoPunks collection worth 77 Ether (ETH) was sent to a burn address to be permanently destroyed. However, the collector’s intent was just to borrow some money against it to buy another NFT. NFT collector Brandon Riley added CryptoPunk #685 to his collection on March 13 by paying 77 ETH, hoping to hold it for the long term. Now feels like an appropriate time to introduce #BAYC 586 to #Punk 685 (acquired a week ago). Hope to hold both for a decade… LGF! pic.twitter.com/SLb68rY6MR —…
Tag: Money
Genesis’ Crypto Trading Arm Is Moving Money Around, a Sign of Normalcy Amid Sibling’s Bankruptcy
A wallet controlled by the Genesis OTC trading desk sent about $125 million of ETH, FTM and USDT to Coinbase, Binance, Bitstamp and Kraken on Thursday, the day of the bankruptcy filing, according to blockchain data compiled by Etherscan. In the past several hours, the wallet has transacted several more times, receiving almost $50 million USDC. Author: Sage D. Young Source link
US Prosecutors Charge 21 Alleged ‘Money Mules’ With Using Crypto to Launder Proceeds of Cybercrimes
Prosecutors in Texas have slapped 21 U.S. citizens with an assortment of criminal charges for allegedly helping various transnational criminal rings launder their ill-gotten gains using cryptocurrency Author: Cheyenne Ligon Source link
$114M Mango Markets Exploiter Outs Himself, Returns Most of the Money
“Everything has to go through DAO proposals,” Daffy Durairaj, co-founder of Mango Markets, wrote in the project’s Discord. “My personal goal is to make depositors whole and that’s what I’ll aim towards. But the mix of tokens and positions everyone had might be different” Author: Danny Nelson, Sam Kessler Source link
Bitcoin Sees No October Rise Yet; the Dollar as the Protocol in the Future of Money?
“Indecision and lack of buying above $20,000 are pushing Bitcoin to test its recent lows,” Joe DiPasquale, CEO of BitBull Capital, wrote in an email, adding optimistically: “If we do drop sharply, the price may bottom soon and put up a nice rally. However, most bulls may be scared out of their longs before that happens.” Author: James Rubin Source link
Ethereum hits 8-month highs in BTC as money heads for ‘riskier’ altcoins
Ether (ETH) is worth more in Bitcoin (BTC) than at any time since the start of the year amid renewed appetite for altcoins. ETH/BTC 1-day candle chart (Binance). Source: TradingView Altcoin market cap returns to $700 billio Data from Cointelegraph Markets Pro and TradingView confirms that ETH/BTC has cleared key resistance to pass 0.08 BTC on Aug. 13. The move is impressive for largest altcoin Ethereum, as the area around 0.075 represented a troublesome sell zone which had previously kept bulls in check for since January. At the time of writing,…
While Most Crypto Prices Went Down, Smart Money NFT Trades Were Up: Nansen Data
Staked ETH tokens are still showing signs of investor confidence. Author: Sage D. Young Source link
‘Smart Money’ Wallets Accumulate GAL and Decrease APE Holdings: Nansen Data
PXN: Ghost Division disrupts Yuga Labs’ NFT dominance. Author: Sage D. Young Source link
‘Smart Money’ Is Staking ETH on Rocket Pool and Selling ENS, Nansen Data Suggests
For the second consecutive day, Yuga Labs’ Otherdeeds NFT collection has seen the most volume in the last 24 hours, according to the blockchain analytics platform. Author: Source link
Singapore’s Distaste for Retail Crypto Is Spooking Institutional Money
“There’s a fascinating discussion to be had about whether what Hwang did was full-blown fraud, but I won’t bother trying to outdo Matt Levine on that front. Instead, I want to focus on the financial mechanics of what Archegos was up to, and why it’s extremely important for cryptocurrency holders or traders to understand.” (CoinDesk columnist David Z. Morris) … “Yet, that surface-level assessment misses some striking new adoption trends that aren’t easily apparent to mainstream commentators. Minorities and various other marginalized groups are turning to crypto as a tool…