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SBF Risks 115 Years in Prison, FUD for Binance, Auditors Quit Crypto: Hodler’s Digest Dec 11-17

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Sam Bankman Freed, founder of FTX, has been arrested and extradited to the United States

Sam Bankman Fried has been arrested He was arrested by the Royal Bahamas Police Force and is likely to remain there until February, after a Bahamian court denied his bail request. a Second bail application It was reportedly filed by the SBF in the Bahamas Supreme Court. His arrest came after the US government officially filed a lawsuit criminal charges against him – including eight counts of fraud. If convicted, Bankman Fried could face 115 years in prison, but legal pending Tell Cointelegraph There is “a lot to do” in this case. The domino effect of the FTX crash also affected The Career Life of Bankman Fried’s Parents, which led to the cancellation of their courses at Stanford Law School. In other recent developments related to FTX, Class action lawsuit against Silvergate Bank in California, with the aim of holding the bank liable for its alleged roles in depositing FTX users’ deposits into Alameda Research’s bank accounts.

Binance “put FTX out of business” – Kevin O’Leary

Venture capital investor Kevin O’Leary He claimed in a US Senate committee hearing that Binance and FTX “were at war with each other, and one intentionally put the other out of business.” The hearing was part of a larger investigation by lawmakers into the FTX crash, in which Binance had a significant role, O’Leary alleged. Recent days have seen Binance surrounded by Fear, Uncertainty and Doubt (FUD), This led to a decrease in the liquidity of the stock market. Crypto analytics firm Nansen reports that Binance had net withdrawals of over $3.6 billion from December 7 to December 13.

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Exodus and Past Communications: The Steemit Bombing with Andrew Levine

Rep. Tom Emmer is considering returning a bill aimed at reducing crypto red tape

US lawmakers are under pressure To enact crypto regulations in light of the collapse of FTX, Congressman Tom Emmer believes this is “probably the right time” to reintroduce a bipartisan bill that would raise the requirement for certain crypto businesses and projects to register as Virtual Asset Service Providers (VASPs). The bill, titled the Blockchain Regulatory Certainty Act, aims to remove some hurdles and requirements for “blockchain developers and service providers,” such as miners, multi-signature service providers, and decentralized finance platforms.

No more proof of reserve checks? Validators quietly drop crypto projects from wallets

Two of the most prominent auditors Suddenly stopped providing cryptographic auditing services. At a critical moment for the crypto industry, Mazars Group Binance Proof of Reserve audits removed from its website just days after confirming that the cryptocurrency exchange controls 575,742 bitcoins. The decision affected other cryptocurrency exchanges that use Mazars’ services, such as Crypto.com and KuCoin. Later, Mazars clarified that the hiatus was due to “concerns about the way the public would understand these reports”. Accounting firm Armanino has also terminated crypto auditing services. Armanino has worked with several cryptocurrency exchanges such as OKX, Gate.io, and the beleaguered FTX exchange.

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MetaMask to allow users to buy and transfer Ethereum via PayPal

Another step into the crypto spacePayPal has teamed up with ConsenSys parent company MetaMask to allow the purchase and transfer of Ether (ETH) through its platform. By logging into the MetaMask app, users will be able to access their PayPal account and complete transactions. Initially, only select PayPal users in the US will be able to test out the service. Other traditional payments companies are seeking to integrate encryption into their services. in October, Western Union also introduced three brands To manage digital portfolios and exchange digital assets.

Winners and losers

At the end of the week, Bitcoin (BTC) in a $16,826ether (ETH) in a 1194 USD And the XRP in a $0.35. The total market value of $817.82 One billion , depending to CoinMarketCap.

Among the top 100 cryptocurrencies, the three biggest weekly gainers are Toncoin (ton) At 30.36%, Bitcoin SV (BSV) by 10.11% and OKB (OKB) by 9.77%.

The three biggest altcoin losers this week are Neutrino USD (American dollar) At -33.77%, Trust Wallet Token (TWT) by -27.43%, and chain (XCN) at -23.42%.
For more information about crypto prices, be sure to read on Cointelegraph market analysis.

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Most memorable quotes

“Binance is a massive unregulated global monopoly now, and they are putting FTX out of business.”

Kevin O’LearyAnd the Venture capital investor

“I assumed it made sense. The kid was young, the principles were revolutionary, and the ideas were golden.” […] Who was I to challenge that? “

Daniel Clouda former FTX employee

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Our experience so far [crypto] The platforms, whether it is FTX or other, is that they are deliberately dodgy, it is a method by which money is laundered in volume.”

Ashley AlderAnd the Appointed Chairman of the UK Financial Conduct Authority

“Just as we protect our physical assets, we need to ensure that people protect their digital assets and personal information within the metaverse.”

Andrew NewmanAnd the Chief Technology Officer and Co-Founder of ReasonLabs

“Looking ahead, pretty much everyone who might go bankrupt is bankrupt.”

Arthur HayesAnd the Former CEO of BitMEX

predict the week

Bitcoin drops below $17K as the ‘craziest rumor’ about BTC price

Bitcoin fell below $17,000 as traders remained cautious on Binance’s FUD resulting in extremely bearish BTC price action. On Bitstamp, BTC/USD hit a multi-day low of $16,928 on December 16, according to data from Cointelegraph Markets Pro and TradingView. The pair has regained its full run to a one-month high on the latest macroeconomic data and policy update from the US.

“It’s interesting to see everyone suddenly going bearish on bitcoin as if they are just acting very weak. SPX is doing exactly the same, perhaps even weaker,” noted Michael van de Poppe, founder and CEO of trading firm Eight. Binance FUD has had a role to play in the markets.

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FUD week

Microsoft prohibits cryptocurrency mining on cloud services

Microsoft has quietly banned cryptocurrency mining of its online services to increase the stability of its cloud services and better protect customers from risks such as cyber fraud, attacks, and unauthorized access to resources, according to a report. The new restrictions were introduced in Microsoft’s global licensing terms, stating that “cryptocurrency mining is prohibited without Microsoft’s prior approval.” With this move, Microsoft joins other cloud computing providers, including Google, who also prohibit customers from mining cryptocurrency without prior written consent.

The “third party incident” affected Gemini as 5.7 million emails were leaked

It appears that Gemini has suffered a data breach from a third party seller. The hackers gained access to 5,701,649 lines of information related to Gemini customers’ email addresses and partial phone numbers, according to documents obtained by Cointelegraph. According to Gemini, the breach was caused by a third-party vendor, but it also warned of ongoing phishing campaigns. The leaked database does not contain any sensitive personal information such as names, addresses, and other KYC information.

The Securities and Exchange Commission is suing Atlas Trading Company for $100 million over a stock manipulation scheme

US Securities and Exchange Commission (SEC) has sued eight individuals associated with the Discord-based Atlas Trading forum for alleged stock manipulation. The SEC reported that bloggers made at least $100 million by acquiring large positions in stocks, recommending them to their followers, and then selling their shares to take advantage of the demand they generated through their “scam promotions”. Cryptocurrencies and other digital assets are not mentioned in the complaint.

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Should crypto projects negotiate with hackers? Likely

Some security experts believe negotiation is a clever way to recover most of the stolen money, while others argue that you should never give in to blackmail.

Can Bitcoin Survive the Carrington Event That Toppled the Network?

A massive solar storm at the level of the Carrington Event It can lead to the destruction of the majority of electronic devices on Earth. Will cryptocurrency survive offline once?

Listen! Cointelegraph launches crypto podcasts, starting with 4 shows

Want more crypto content? Cointelegraph’s new podcast section features four separate shows that explore a variety of influential topics.

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Cointelegraph writers and reporters contributed to this article.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

Advertisement

Dash 2 Trading
  • Active pre-sale is live now – dash2trade.com
  • Featured in Cointelegraph – $10 Million Raised
  • Know Your Customer verified and reviewed
  • The original code for the crypto signals ecosystem

Dash 2 Trading


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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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