Bitcoin jumps $4,000 as Bitfinex and Tether settle with New York courtThe crypto market cap is $1.44T, a 9.88% decrease over the last day.
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Author: Shaurya Malwa A long-running case regarding Tether’s alleged fake dollars and Bitfinex’s involvement in covering up parts of the former’s business have drawn to a close today. $18.5 million fineStablecoin issuer Tether and Bitfinex, a prominent crypto exchange and its parent company, have today settled with New York courts on a long-running case that saw the latter alleged Tether’s questionable reserves. Bitfinex and Tether agree to pay over $18.5 million in a fine that effectively shut the case for good. The market, in turn, responded with positive sentiment to the landmark outcome and sent Bitcoin (and other cryptocurrencies) surging upwards. Ad 📈 Earn 8% APY on Bitcoin & 9 more crypto assets and 12% on Fiat & Stablecoins. Compounding interest, paid out daily. 🔥 Trending Sectors
More news ⏬Impermanent loss is a death sentence for DeFi miningDecentralized finance is a prevalent industry that keeps reaching new milestones. Top two Ethereum addresses lock up $17 billion in smart contractsThe biggest Ethereum wallets are smart contracts instead of exchange or user accounts—a sign of adoption and activity. DeFi platform hacks itself to safeguard users’ fundsThe developers of Primitive, Ethereum-based decentralized finance (DeFi) permissionless options protocol, “whitehacked” their own platform after a severe exploit was discovered today. Logan Paul NFTs sell $3.5 million worth on first day of releaseLogan Paul sells $3.5mn worth of non-fungible tokens (NFTs) on the first day of release. Crypto.com burns $10 billion worth of CRO ahead of mainnet launchCrypto dot com, the Hong Kong-based payments and crypto exchange platform, will conduct one of the biggest token burns ever ahead of its mainnet launch. XRP jumps ahead of Ripple-US SEC hearing todayRipple Labs, the issuer of the payments token, faces scrutiny in US courts for its alleged role in misguiding investors and selling an unlicensed security. Bitcoin may suffer several corrections on its way to $200k, suggests Peter BrandtPeter Brandt, veteran trader and author of “Diary of a Professional Commodity Trader,” pointed out that while Bitcoin’s (BTC) price could reach $200,000, history shows that it’s prone to massive corrections of 30% or more. Elon Musk explains Bitcoin’s value proposition to gold bug Peter SchiffThe Tesla CEO has become a bit of a Bitcoin and crypto bull lately, explaining the asset to a long-time critic. Why crypto might grow like the early 2000s tech stocks: An introduction to the Gartner Hype CycleDeveloped by research company Gartner to represent the adoption of new media, hype cycles have been used since the 1990s to quantify and predict the performance of groundbreaking new technologies. What CryptoWendy says of Bitcoin, Polkadot, and NFTs in 2021
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