Gold has been an outperformer in 2022 compared to the United States equities markets and Bitcoin (BTC). The yellow metal is almost flat for the year while the S&P 500 is down more than 19% and Bitcoin has plunged roughly 64%. The sharp fall in Bitcoin’s price has hurt both short-term and long-term investors alike.
Month: December 2022
A group of customers are now suing FTX in an attempt to become the first to recover funds from the insolvent cryptocurrency exchange. The lawsuit, filed as part of the bankruptcy case in Delaware, seeks a court ruling recognizing that their holdings with the trading platform belong to them rather than the failed company. Customers
Amid the severe crypto downturn in 2022, the price of Dogecoin (DOGE) has held up much better than most of the top assets on the market. DOGE is the third-best performer in the top ten, having dropped “just” 58% this year, beaten only by XRP (XRP) and BNB (BNB), which saw declines of 57.2% and
Cryptocurrency mining firm Argo Blockchain has taken a difficult decision to sell its flagship mining facility Helios in order to survive the ongoing bear market. Argo Blockchain CEO Peter Wall officially announced on Dec. 28 a deal with Mike Novogratz’s crypto investment firm Galaxy Digital to sell the Helios facility for $65 million. Argo has
While the government agencies are queuing to sue the FTX and its founder Sam Bankman-Fried, the group of former customers made an effort to get their money back first. A class lawsuit initiated by four individuals demands priority access to frozen funds of the company for its customers, not investors. The lawsuit was filed on
Venezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and blockchain-focused legal firm in Venezuela, more than 75 accounts have been blocked by Venezuelan private banks for facilitating crypto-to-fiat and fiat-to-crypto conversions since the end of 2021. Venezuelan
Publicly listed Bitcoin (BTC) miners sold off almost all of the Bitcoin they mined throughout 2022, leading to a debate over whether the sales created “a persistent headwind” for the Bitcoin price or not. Analyst Tom Dunleavy from blockchain research firm Messari shared the data in a Dec. 26 tweet, indicating that approximately 40,300 of the
The crypto trader behind the $110 million exploit of decentralized exchange Mango Markets has been arrested in Puerto Rico — and charged with market manipulation and fraud. According to a previously sealed complaint filed with the Southern District of New York and made public on Dec. 27, the Federal Bureau of Investigation (FBI) pinned Avraham
Bitcoin (BTC), Ether (ETH) and the crypto market had a rough 2022 from a price perspective, but traders are hopeful that 2023 will include bullish developments that push crypto prices higher. Despite the market-wide downturn, a handful of altcoins continued to make a positive contribution to the crypto space and thanks to Ethereum, the term
Bitcoin (BTC) saw a fresh hint of volatility at the Dec. 27 Wall Street open as United States equities began the final trading week of the year. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin ekes out fresh volatility Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it dropped around 1% at the
The Nigerian security agency, the Department of State Services (DSS), has reportedly instructed its operatives to arrest the Central Bank of Nigeria governor Godwin Emefiele as soon as he is seen in public. The DSS is still seeking to apprehend Emefiele despite losing its bid to have a Nigerian court sanction the arrest. Nigerian Court
On December 24, a heated war of words began between Ripple CTO David Schwartz and self-proclaimed Bitcoin inventor Craig Wright. The initially innocuous discussion about the institutional acceptance of Bitcoin turned into a heated debate about the legitimacy of XRP with savage insults. The cause of the altercation was a tweet by Wright in which
More and more people are discovering Bitcoin (BTC) and other cryptocurrencies, which is good for the adoption of digital money on the blockchain. Interest in Bitcoin is also growing in Australia and companies are responding positively. For example, there are various ways to buy Bitcoin in Australia. Trading Bitcoin is more than just buying and
According to a Bloomberg report published on Dec. 27, the U.S. Department of Justice has launched an investigation into the whereabouts of approximately $372 million in missing digital assets from now-defunct cryptocurrency exchange FTX and FTX US. On Nov. 12, amidst bankruptcy and internal collapse, FTX warned customers of abnormal wallet activity regarding at least
Hackers linked to North Korea’s Lazarus Group are reportedly behind a massive phishing campaign targeting nonfungible token (NFT) investors — utilizing nearly 500 phishing domains to dupe victims. Blockchain security firm SlowMist released a report on Dec. 24, revealing the tactics that North Korean Advanced Persistent Threat (APT) groups have used to part NFT investors
For more than 50 days or since Nov. 5, 2022, bitcoin, ethereum, and stablecoin owners removed roughly $19.19 billion in crypto assets from centralized exchanges. Between Nov. 5 to Dec. 26, roughly 356,848 bitcoin and 4.48 million ether were withdrawn from a myriad of crypto trading platforms worldwide. $6 Billion in Bitcoin, Over $5 Billion
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