Disgraced FTX founder Sam Bankman-Fried’s legal team called the 100-year sentence recommended by the jury “bizarre” in a court filing Tuesday.Bankman-Frid has hired a new team of lawyers, led by Marc Mukasey, when she is sentenced March 28 in Manhattan. Mukasey previously represented former U.S. President Donald Trump and members of the Trump Organizations.Now, just days after taking him on as a client, Mukasey and his team have filed a 121-page sentencing memo calling for him to receive no more than six years and six months in prison.The 31-year-old former CEO of cryptocurrency exchange FTX was found guilty on November…
Author: Crypto Flexs
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Bitcoin BTC +5.74% It topped $60,000 on Wednesday, a high not seen since November 2021.The world’s largest cryptocurrency by market cap is up more than 6% in the past 24 hours, hitting $60,000 at 8:22 a.m. ET, according to The Block’s pricing page. Meanwhile, the GM 30 index representing the top 30 cryptocurrencies rose 2.8% to 125.37 over the past 24 hours.The price action resulted in the liquidation of more than $100 million in Bitcoin positions, with nearly $72 million held short, according to Coinglass data. Bitcoin’s value has risen more than 42% since early February, and the largest cryptocurrency…
The cryptocurrency meme coin category is coming back to life this week, led by notable rallies for tokens such as WIF, PEPE, SHIB, and BONK. There could be a resurgence of speculative mania for these novel assets connected to blockchain networks. Just the day before, there was an average gain of 13% across all meme coins. TLDR After holding WIF tokens for three months and the price soaring more than 4500 times, the trader turned $310 into $1.4 million. Solana meme token BONK price is up 17% in a bullish momentum signal, targeting $0.000026 next. WIF price has surged 42%…
Victoria, Seychelles, February 28, 2024, Chainwire The B² network, a Bitcoin layer 2 network, now supports the following connections: BitGet Wallet. Users can access the fast, cost-effective, and secure Bitcoin Layer 2 network through the Bitget Wallet mobile app or browser extension. This makes cross-chain trading of BTC assets and participation in the airdrop program possible. B² Network, an EVM-compatible Bitcoin Layer 2 solution, integrates smart contracts into the Bitcoin network to unlock the untapped potential of Bitcoin’s $832 billion market capitalization. This initiative serves as a platform for pioneering applications in the BTC ecosystem, including DeFi, NFTs, BTC derivatives,…
Samuel Bankman-Fried, the defendant in a high-profile cryptocurrency fraud case, is likely to receive a reduced sentence as FTX assets hint at full compensation to customers. In a series of events that could affect the sentencing of Samuel Bankman-Fried, the founder of now-defunct cryptocurrency exchange FTX, a recent court case suggested his client could receive full compensation. Bankman-Fried, who faces multiple charges including wire fraud and conspiracy, is currently awaiting sentencing, and Case No. 22-cr-673 (LAK) is gaining a lot of attention in the cryptocurrency community. FTX Assets’ announcement that full repayment to customers and general unsecured creditors could be…
Bitcoin (BTC) is now quickly approaching the coveted $60,000 mark after rising 5% over the past day. This is because investor interest in the world’s largest cryptocurrency has reached levels last seen during the 2021 boom, putting it very close to all-time highs. Rally before halving? Bitcoin is close to $60,000. The price rise coincided with a surge in demand as spot Bitcoin exchange-traded funds (ETFs) surpassed $3 billion in cumulative trading volume on Tuesday. Other traders also cited the expected April Bitcoin halving as a source of new talk to spark pre-halving increases. The market capitalization of the world’s…
Magic Eden partners with Yuga Labs to launch Ethereum Marketplace to maintain creator royalties in the evolving NFT landscape. Magic Eden announced that it is partnering with Yuga Labs to launch an Ethereum marketplace. The platform is the first major Ethereum-based marketplace to respect creator royalties, marking a significant step forward in supporting the creator economy within the web3 ecosystem. A new chapter for NFTs and creator royalties Magic Eden, known for its cross-chain NFT platform, has teamed up with Yuga Labs, the web3 lifestyle and media giant behind iconic collections such as Bored Ape Yacht Club (BAYC) and CryptoPunks.…
The way I see it, it’s the same as NFT. Yes, there are many other factors, but for Ordinals it’s just the fact that the images are literally on a chain. And it’s not on any chain, it’s on Bitcoin. Yes? We know Bitcoin is going to be around. I think one attribute stands out. As people feel, this is real and it will never go away and my digital art is now stored forever. And that’s it. I think that’s a base level property. And there are other things around it that are obviously of a lot of interest.…
BlackRock’s IBIT Spot Bitcoin Exchange Traded Fund hit a record daily inflow of $520.2 million on Tuesday, amid continued surge in Bitcoin prices.According to BitMEX Research data, IBIT’s inflows yesterday were 5% higher than the previous record of $493.1 million set on February 13, bringing the total net inflows of all US spot Bitcoin ETFs registered on Monday to 5% combined. It exceeded 19.8 million dollars.On Monday, BlackRock’s usually dominant ETF fell to third place due to inflows, with just $111.8 million. Fidelity’s FBTC led inflows on Monday, adding $243.3 million, while Ark Invest 21 Shares’ ARKB came in second,…
The profit margin for Bitcoin supply is the highest at 94.98%. It serves as an indicator to determine the highs and lows of long-term cycles. Current rates are identical to those recorded during the peak of the 2019 eco-bubble and the start of the 2020 bull market. Other times this rate was higher were 2017 and 2021. Although investing in BTC appears attractive at the moment, analysts have issued warnings to traders that the current bullish trend could lead to a downside ahead. This does not necessarily reflect the long-term permanent picture. Bitcoin ultimately surpassed the ATH of nearly $68,000…