BTC bulls were liquidated in last week’s drop to $20,800, meaning even more downside could occur if this level fails ahead of this week’s $1 billion options expiry. Bitcoin (BTC) experienced a 16.5% correction between Aug. 15 and Aug. 19 as it tested the $20,800 support. While the drop is startling, in reality a $4,050...Continue Reading

Nonfungible tokens give major brands new ways of interacting with their consumers spanning art, fashion and gaming. The hype surrounding nonfungible tokens (NFTs) has allowed some of the world’s most iconic brands to rake in hundreds of millions of dollars in additional revenue, underscoring the mass consumer appeal of digital collectibles.  Leading brands including Nike,...Continue Reading

Crypto lender Celsius has gone on the offensive against former staking and DeFi strategy associate KeyFi and its CEO, which had sued it a week before it went bankrupt. Bankrupt crypto lending company Celsius countersued decentralized finance (DeFi) protocol KeyFi and its CEO Jason Stone on Tuesday in the United States Bankruptcy Court claiming Stone...Continue Reading

Non crypto-related factors continue to weigh on BTC price, but a key on-chain metric that called previous market bottoms suggests Bitcoin is severely undervalued. Bitcoin (BTC) price remains pinned below $22,000 as the lingering impact of the Aug. 19 sell-off at $25,200 continues to be felt across the market.  According to analysts from on-chain monitoring...Continue Reading

“Prime Trust was obligated under the Bankruptcy Code to deliver all property belonging to Celsius […] including these remaining crypto assets,” said Celsius’ legal team. Crypto lending platform Celsius Network has filed a lawsuit claiming that custodian Prime Trust failed to turn over roughly $17 million worth of cryptocurrency. In a Tuesday filing with U.S....Continue Reading

The Minnesota Republican highlighted the practical issues that could allegedly arise from the placement of smart contract addresses on the SDN list in a series of pointed questions. United States Congressman Tom Emmer sent a four-page letter to Treasury Secretary Janet Yellen on Tuesday regarding the Treasury Department’s sanctioning of cryptocurrency mixer Tornado Cash on...Continue Reading

Scan and pay with e-CNY is now available in multiple Chinese cities for citizens looking to ride their local buses and subways. According to multiple sources, on Tuesday, China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible...Continue Reading

A Coinbase user claimed the crypto exchange “boldly flouts federal and state laws” by not completing the proper registration as a securities exchange in the United States. One user has filed a class-action lawsuit against crypto exchange Coinbase on behalf of account and wallet holders “who have had their accounts breached and incurred losses arising...Continue Reading

Instead of operating in darkness, more players in the financial industry should move their transactions to the blockchain, where every move is public. While mainstream coverage of cryptocurrency has been overwhelmingly negative in the wake of the collapse of the Terra ecosystem, the bankruptcy of Celsius and the fall of Three Arrows Capital, these events...Continue Reading

On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss what factors lead to the collapse of the bear market rally. On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally. To kick things off, we broke...Continue Reading