David Pokima, Author at coinpress https://coinpress.live/author/mohammad/ coinpress - 24*7 Crypto Updates Thu, 26 Sep 2024 17:36:39 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://coinpress.live/wp-content/uploads/2023/11/cropped-coinpress_logo2-32x32.png David Pokima, Author at coinpress https://coinpress.live/author/mohammad/ 32 32 Coinbase To List Hamster Kombat Perp Futures; HMSTR Price Recovery Ahead? https://coinpress.live/coinbase-to-list-hamster-kombat-perp-futures-hmstr-price-recovery-ahead/ Thu, 26 Sep 2024 17:36:39 +0000 https://coinpress.live/?p=218189 Coinbase exchange has announced support for Telegram’s tap-to-earn game Hamster Kombat. The platform will list HMSTR perpetual futures as the token garners support from multiple exchanges. Crypto users speculate about the impact on the asset’s price following the sharp fall after its launch.  Coinbase’s Listing Announcement Sparks Optimism Crypto exchange Coinbase revealed a perpetual futures

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Coinbase exchange has announced support for Telegram’s tap-to-earn game Hamster Kombat. The platform will list HMSTR perpetual futures as the token garners support from multiple exchanges. Crypto users speculate about the impact on the asset’s price following the sharp fall after its launch. 

Coinbase’s Listing Announcement Sparks Optimism

Crypto exchange Coinbase revealed a perpetual futures listing for Hamster Kombat. This comes amid multiple exchanges adding support for the token following its highly anticipated launch. Per the announcement, the asset will be listed on the Coinbase International Exchange and Coinbase Advance on Sept 26. 

This follows the exchange roadmap to offer users diversified offerings and provide sophisticated options to manage digital assets. The move triggered positive comments from the wider community on X (formerly Twitter) due to similar listings. Traditionally, top crypto listings on exchanges garner support leading to an upward movement in the price of the asset. 

Crypto exchanges also stand to gain as the wider community interacts with the assets amid growing competition among centralized platforms. The exchange continues to show support for crypto tokens through its listings. Coinbase announced support for four tokens including CoW on Ethereum, WELL on Base, CATI, and ZETA. The platform also issued instructions to users on sending assets to other networks to avoid losses. 

What’s Next For The HMSTR Price? 

The big question remains the impact of this development on HMSTR price. As stated earlier, exchange listings add to the momentum of the asset often igniting a price rally. However, Hamster Kombat price plunged after its listing as holders fear for sell-offs. 

The asset has plunged 43% today trading at $0.007094 despite widespread anticipation before its launch. Top crypto exchanges also supported the token ahead of the listing. Binance expanded support for the asset offering services on its Earn, Buy Crypto, Convert, and Margin Trading. In crypto circles, users differ to the direction of the asset because it received widespread support and yet faces headwinds leading to lower sentiments. However, the wider market continues to rally as Bitcoin breaks $65,000 with a 3% surge in the last 24 hours. 

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Onyx Faces Security Breach With Hackers Draining $3M, Here’s All https://coinpress.live/onyx-faces-security-breach-with-hackers-draining-3m-heres-all/ Thu, 26 Sep 2024 14:58:21 +0000 https://coinpress.live/?p=218182 Decentralized protocol, Onyx is facing a major breach as bad actors drained $3.2 million sparking user fears. This adds to the recent cases of hacking activities in the crypto market as global authorities ramp up scrutiny. Some commentators say the infamous trend will dampen sentiment amid rising institutional investment. Onyx Hack Losses Hit $3M  OnyxDAO

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Decentralized protocol, Onyx is facing a major breach as bad actors drained $3.2 million sparking user fears. This adds to the recent cases of hacking activities in the crypto market as global authorities ramp up scrutiny. Some commentators say the infamous trend will dampen sentiment amid rising institutional investment.

Onyx Hack Losses Hit $3M 

OnyxDAO is reportedly facing a security breach that has led to losses hitting $3.2 million. Blockchain security and data firm PeckShield flagged the recent activity around the company. On-chain data shows the malicious wallet holds large amounts of VUSD with funds being moved across platforms. The attacker currently holds about 521 ETH worth approximately $1.36M.

The Onyx incident has been attributed to a precision issue involving the CompoundV2 code base with the bug exploited to manipulate exchange rates leading to loss of funds. Assets drained include VUSD, DAI, XCN, USDT, and WBTC. This event has sparked debates on the security of decentralized protocols and assets within the ecosystem. Previously, crypto users have faced huge losses due to the activities of hackers. 

While phishing attacks and bridge hacks are popular targets, other platforms also face security incidents to varying degrees. Recently, Ethena Labs suspended its website activities after it faced a security breach on its domain registrar. The platform also urged users not to interact with sites purporting to be Ethena to avoid losses. 

Regulators Ramp Up Efforts 

Hacks similar to the Onyx incident have drawn the attention of regulators to the crypto market. While these attempts are to protect user funds from bad actors, regulatory methods can stifle innovation in the sector. This is seen in the United States regulatory sphere with the Securities and Exchange Commission (SEC) filing several lawsuits against crypto exchanges and firms. 

US Congressman Ritchie Torres accused the SEC of misusing its SAB 121 regulation to target crypto firms. However, the community lauds recent efforts made in the US ecosystem as the election approaches.

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Circle Unveils New Compliance Tool To Attract Devs, USDC Adoption To Soar? https://coinpress.live/circle-unveils-new-compliance-tool-to-attract-devs-usdc-adoption-to-soar/ Tue, 24 Sep 2024 19:41:01 +0000 https://coinpress.live/?p=217898 Stablecoin issuer Circle has announced the Compliance Engine as part of a new set of products to attract developers building on-chain financial services. This would help companies achieve compliance, focusing on building amid recent regulatory hurdles. Crypto users laud the rollout suggesting a huge impact for USDC adoption. Circle Unveils Compliance Engine  Circle released a

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Stablecoin issuer Circle has announced the Compliance Engine as part of a new set of products to attract developers building on-chain financial services. This would help companies achieve compliance, focusing on building amid recent regulatory hurdles. Crypto users laud the rollout suggesting a huge impact for USDC adoption.

Circle Unveils Compliance Engine 

Circle released a new suite of products, including a Complaince Engine driven to help developers meet several regulatory demands. In a recent post on X, the company announced the release seeking to help companies build onchain services. 

Compliance Engine for Programmable Wallets is now live… Compliance Engine, the latest feature added to our infrastructure platform, helps businesses protect their users with ease through customizable, automated compliance checks.”

Jeremy Allaire, the firm’s co-founder and CEO highlighted the benefits of recent tech innovations which enable teams and developers in the crypto space. A major factor behind the buzz is that the Compliance Engine is automatically integrated with the company’s Programmable Wallets. Other tech updates include the Travel Rule Service which helps devs maintain global compliance when dealing with larger transactions. 

Similarly, the Transaction Screening helps to detect risky transfers in the ecosystem. Recently, Sony partnered with Circle to introduce bridged USDC on Soneium. The integration on the Ethereum layer 2 network is tipped to bring significant traction to the web3 ecosystem as more investors eye market growth. 

USDC Adoption To Soar?

The company can leverage on the new development to drive market investment amid rising institutional demand in the crypto space. Just like industry watchers speculated following the Sony partnership, the move could lead to increased USDC adoption across institutional and retail investors. 

Circle expanded to Brazil and Mexico opening up new markets for the stablecoin amid increasing competition. As more stablecoins are released to the market, issuers have to prioritize innovation to win market share. These assets are mostly utilized as bridges between crypto and traditional finance.

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Celestia Price Soars As Foundation Raises $100M, TIA to $10? https://coinpress.live/celestia-price-soars-as-foundation-raises-100m-tia-to-10/ Mon, 23 Sep 2024 21:03:01 +0000 https://coinpress.live/?p=217735 The Celestia Foundation has raised $100 million towards its roadmap implementation leveraging on scalability. Several venture capitalist firms took part in the round as the total amount for the project soared to $155 million. TIA price is up 14% following the announcement with bulls pointing to new highs.  Celestia Foundation Raises $100 Million  The Celestia

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The Celestia Foundation has raised $100 million towards its roadmap implementation leveraging on scalability. Several venture capitalist firms took part in the round as the total amount for the project soared to $155 million. TIA price is up 14% following the announcement with bulls pointing to new highs. 

Celestia Foundation Raises $100 Million 

The Celestia Foundation announced that it raised $100 million to achieve its goals, increasing scalability in the ecosystem. In a Sept 23 release, the company noted that participants were drawn across the industry including Bain Capital Crypto, Robot Ventures, Placeholder, Syncracy Capital, etc. This inflow takes the total amount towards the project to $155 million.

The project changes scalability around blockchains which previously kicked off with the monolithic L1 however, Celestia is beyond the monolithic and execution layer constraints. As a result, developers are not restricted to a single roll-up or smart contract language.

Recently, Celestia’s core developer community announced its technical roadmap with a core objective: relentlessly scale to 1-gigabyte blocks, bringing a massive increase in data throughput to Celestia’s rollup ecosystem. In a previous era, the throughput of Visa (~24,000 TPS) was considered an impressive North Star. With 1 gigabyte blocks, Celestia is tracking to deliver the capacity of many Visa networks in parallel.”

Recently, the Lemongrass update sparked the asset’s price by 15% becoming the first mainnet upgrade. It introduced a one-click interaction involving cross-chain and other features. Scalability remains a key focus on blockchains as competition and adoption grows.

TIA Price Soars 14% 

Celestia price is up 14% in the last 24 hours as bull leverage on the heels of the massive fundraising. The jump comes amid positive sentiments in the wider crypto market with Bitcoin price maintaining pressure above $63K. In the last seven days, TIA price moved up 34% recovering previous losses it recorded during the bearish window as holders set sights on $10.

Mustafa Al-Bassam, the Chairman of the Celestia Foundation pointed to the scalability of the network and utility to developers. “When Celestia launched last year as the first modular data availability layer, it scaled blockspace from the dial-up era to the broadband era. Now, the core developers have introduced the technical roadmap to scale block space to the fiber optic era – while keeping it verifiable and low latency.”

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Riot Platforms & Bitfarms Announce Settlement, Stock Price Jump Inbound? https://coinpress.live/riot-platforms-bitfarms-announce-settlement-stock-price-jump-inbound/ Mon, 23 Sep 2024 15:20:25 +0000 https://coinpress.live/?p=217708 Bitcoin miners Riot Platforms Inc. and Bitfarms have reached a settlement agreement after months of hostile negotiations following the former’s planned takeover bid. This development comes ahead of a Special Meeting of Bitfarms Shareholders on Nov 6. Both companies’ stock prices are out of the red zone with some market participants projecting movements with other

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Bitcoin miners Riot Platforms Inc. and Bitfarms have reached a settlement agreement after months of hostile negotiations following the former’s planned takeover bid. This development comes ahead of a Special Meeting of Bitfarms Shareholders on Nov 6. Both companies’ stock prices are out of the red zone with some market participants projecting movements with other stocks. 

Riot and Bitfarms Reach Agreement 

In a Sept 23 release, Riot Platforms Inc and Bitfarms disclosed a settlement ahead of the former’s special shareholders meeting in November. This agreement seeks a pathway to the long-stretching takeover bid by Riot Platforms. The agreement includes changes to the Board structure of Bitfarms described by parties as a significant step to the future. 

Per the release, Andres Finkielsztain stepped down from the company’s Board while Amy Freedman was appointed as well as serving in other committees. On Riot’s part, it will withdraw its previously filed requisition and maintain a halt through the Bitfarms 2026 annual meetings. Riot also has the right to purchase shares in the company provided it holds up to 15% of its shares.

At the Special Meeting, shareholders will be asked to approve an expansion of the Board from five members to six members, to elect an independent director nominated by the Board to serve as the sixth member of the Board, and to ratify the Company’s July 24, 2024, shareholder rights plan. Riot has agreed to vote in favor of these matters.”

A Takeover Crisis 

The hostile takeover attempt led to several back-and-forths between both Bitcoin miners. Riot attempted to acquire Bitfarms through an unsolicited $950 million offer before buying the company’s stock in a bid to gain control. The Canadian mining giant rejected the offer criticizing Riot for refusing to engage constructively. 

Bitfarms made a move to acquire Stronghold Digital Mining in a $164 million deal according to sources familiar with the matter. At press time, the stock prices of both companies are making gains on the heels of the agreement and wider market sentiment. BITF trades at $2.05, a 2.5% growth in the last 24 hours. 

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BNY Mellon Enters Bitcoin Custody Scene As SEC Okays Service: Report https://coinpress.live/bny-mellon-enters-bitcoin-custody-scene-as-sec-okays-service-report/ Fri, 20 Sep 2024 19:55:24 +0000 https://coinpress.live/?p=217455 According to a new report, BNY Mellon, the largest custodian bank in the United States, has secured the approval of the Securities and Exchange Commission (SEC) to offer Bitcoin custody services. The bank was identified as an institution exempted from the financial regulator’s rules. This could trigger more institutional investment in the crypto scene should

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According to a new report, BNY Mellon, the largest custodian bank in the United States, has secured the approval of the Securities and Exchange Commission (SEC) to offer Bitcoin custody services. The bank was identified as an institution exempted from the financial regulator’s rules. This could trigger more institutional investment in the crypto scene should the Commission give the green light to more firms. 

BNY Mellon To Offer Bitcoin Custody Services 

Financial services company, BNY Mellon has reportedly secured approval from the US SEC to offer Bitcoin custody services. According to a recent Unchained report, the bank was named during a public hearing in Wyoming’s Select Committee on Blockchain, Financial Technology, and Digital Innovation Technology as an institution that received an exemption from the SEC. 

Chris Land, a counsel for Sen Cynthia Lummis testified that the way is cleared for the company to provide custody services. “[BNY] is looking to get more involved in the crypto custody business. They had some problems with Staff Accounting Bulletin (SAB) 121, and the SEC has given them some kind of variance from SAB 121 to move forward.”

This could lead to new institutional participation in the market as more traditional companies become custodians. The approval of spot Bitcoin ETFs and related efforts have led to increased institutional appetite. Recently, Bitwise CIO highlighted a new milestone for these Bitcoin ETFs.

SEC Exemptions To Trigger Investments 

The financial regulator granted some exceptions to SAB 121 which makes it tougher for institutions like BNY Mellon to provide crypto custody. Paul Munter, SEC Chief Accountant revealed that the Commission granted exception to a bank and brokerage houses without naming any specifically. In August an SEC insider revealed why the Commission eased the rules. 

In the case of the bank, he said, the conditions involved the institution working with a state regulator first to ensure that the crypto assets being custodied would return to the customer in the event of a bankruptcy, and that activity with customers would only comprise institutional custody with sufficient controls in place to manage risk,” the report added.

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Whale Dumps Entire PEPE, FLOKI, and WLD Holdings, What’s Next For These Assets? https://coinpress.live/whale-dumps-entire-pepe-floki-and-wld-holdings-whats-next-for-these-assets/ Thu, 19 Sep 2024 19:05:45 +0000 https://coinpress.live/?p=217304 A crypto whale has sold his entire Pepe coin, FLOKI, and Worldcoin holdings amid the recent price surge in the market. The digital asset market notched increased sentiments following interest rate cuts by the Federal Reserve. However, some users point to profit taking which can reduce the projected uphill movement. PEPE Whale Dumps Assets  A

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A crypto whale has sold his entire Pepe coin, FLOKI, and Worldcoin holdings amid the recent price surge in the market. The digital asset market notched increased sentiments following interest rate cuts by the Federal Reserve. However, some users point to profit taking which can reduce the projected uphill movement.

PEPE Whale Dumps Assets 

A digital asset whale has sold his holdings in three assets raking in profit. On-chain data shows the trader has sold  $3.2 million in PEPE, FLOKI, and WLD making a $200,000 profit. The whale raked in $110,000 from Pepe coin holdings while netting $45,000 and $44,000 from FLOKI and WLD respectively. 

According to crypto analysts, the trader suffered losses at some point to due price swings after Bitcoin traded below $55K. The drop in Bitcoin price sparked a decline in altcoins and meme coins as the wider market faced a slight correction. Following the Federal Reserve’s decision to slash policy rates by 50 BPS on Sept 18, prices of crypto assets surged leading to traders looking to make a profit. 

Generally, whale movements send a bearish signal to the market due to their total number of holdings with smaller traders moving in the same direction. Recently, the market has seen similar movements from traders to reposition assets amid price swings. This week, an Ethereum whale dumped $38 million worth of ETH sparking negative pressure. 

What’s Next For The Assets? 

The crypto market is soaring off the Fed’s decision to cut interest rates. Several traditional investors projected growth in the market after the September rate cuts as funds flow to risky assets. At press time, the total market cap is up 6% with the market cap hitting $2.1 trillion. In the last 24 hours, PEPE surged 13%, alongside other meme coins.

FLOKI price is up 10% in the same time frame while Worldcoin moved up 8%. Most commentators point to increased gains in the price of crypto assets as macro factors flip positive.

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Fed Jerome Powell Speech Minutes: What You Need To Know https://coinpress.live/fed-jerome-powell-speech-minutes-what-you-need-to-know/ Wed, 18 Sep 2024 22:29:55 +0000 https://coinpress.live/?p=217164 The Federal Reserve slashed interest rates for the first time in four years sparking market movements as participants digest Jerome Powell’s outlook on policy directions. The Federal Reserve Chair expressed satisfaction with the interest rate cut by 50BPS. Meanwhile, crypto prices are expected to record growth as funds flow to risky assets.  Jerome Powell: The

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The Federal Reserve slashed interest rates for the first time in four years sparking market movements as participants digest Jerome Powell’s outlook on policy directions. The Federal Reserve Chair expressed satisfaction with the interest rate cut by 50BPS. Meanwhile, crypto prices are expected to record growth as funds flow to risky assets. 

Jerome Powell: The Economy Is Strong 

Jerome Powell threw more light on the recent decision to cut interest rates. For months, the market has anticipated cuts as inflation cooled in the United States. Although the central bank’s target was 2%, recent developments showed leanings of the Fed to ease rates expecting movements to that position. According to Jerome Powell, the economy is strong overall with strong confidence that the labor market can be maintained. 

Today, the Federal Open Market Committee (FOMC) decided to reduce the degree of policy restraint by lowering our policy interest rates by a half percentage point. This decision reflects our growing confidence that with appropriate recalibration of our policy stance, strength in the Labour market can be maintained in the context of moderate growth and inflation moving sustainably down to 2%. Our monetary policy actions are guided by our dual mandate to provide maximum employment and stable prices for the American people.” 

According to him, the labor market conditions were tight in the last three years with the primary focus on lowering inflation. Furthermore, Powell hailed the present state of the market with positive macro factors adding that monetary policies are well anchored. As expected, the Feds will continue to monitor inflation making decisions that fit present market conditions.

A Step In The Right Direction 

Jerome Powell noted that the 50 BPS cut is a step in the right direction pointing to the available data and future benchmark revisions. He added that while the first policy cut years is a step in the right direction, further decisions will continue to be made meeting by meeting.

However, some commentators feel the Feds interest rate decision was rushed due to the 50 BPS deduction. Jerome Powell had a different opinion stressing that nothing in the projections reflects signs of a rush. Going forward, the Feds will pause, cut, or maintain present rates as appropriate.

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Coinbase Adds Support For This Crypto, Price Rally Inbound? https://coinpress.live/coinbase-adds-support-for-this-crypto-price-rally-inbound/ Wed, 18 Sep 2024 18:54:06 +0000 https://coinpress.live/?p=217152 Crypto exchange Coinbase has announced support for (Aleo) ALEO igniting bullish speculations in the market. The exchange listed requirements for trading the asset which will kick off in phases on the platform. Traditionally, crypto users set sights on asset listing in major platforms due to a resulting positive price movement.  Coinbase To List Aleo  Coinbase

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Crypto exchange Coinbase has announced support for (Aleo) ALEO igniting bullish speculations in the market. The exchange listed requirements for trading the asset which will kick off in phases on the platform. Traditionally, crypto users set sights on asset listing in major platforms due to a resulting positive price movement. 

Coinbase To List Aleo 

Coinbase exchange disclosed plans to add support for ALEO on the Aleo Network warning against transfers of the assets over other networks. In a recent post on X (formerly Twitter), the exchange announced listing for the asset revealing availability on its platforms in supported jurisdictions. 

Coinbase will add support for Aleo (ALEO) on the Aleo network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.”

According to the statement, trading will commence today once conditions including sufficient supply on the ALEO/ USD pair are met. While support for the asset will be restricted in some jurisdictions, the crypto will be listed and added with the experimental label. This category is utilized for new assets and tokens with a low trading volume enabling users to take greater care to mitigate associated risks. 

The move is part of the exchange goals to give users diverse options. Coinbase announced DOGS and POL perpetual futures listing igniting user optimism around both assets. This year, the exchange has made similar moves in the ecosystem.

What’s Next For The Asset?

Traditionally, support for tokens leads to a positive price movement in the market. This is hinged on the volumes and reach of top crypto exchanges like Coinbase further pushing narratives of asset legitimacy. Most times, this sparks wider listings for other crypto exchanges. Aside from the listing and inflows to the asset, other macro factors could affect the price of ALEO. The Federal Reserve rate cut is expected to spark a market rally as funds flow to risky assets.

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Cencora Faces Backlash Over $75M Bitcoin Cyber Ransom Payment, Here’s Why https://coinpress.live/cencora-faces-backlash-over-75m-bitcoin-cyber-ransom-payment-heres-why/ Wed, 18 Sep 2024 16:45:04 +0000 https://coinpress.live/?p=217135 Healthcare company Cencora is facing backlash from the crypto community following a $75 million cyber ransom payment in Bitcoin. On-chain analyst revealed the exact BTC transactions in three installments in March. Crypto users advocate tracking hackers and providing more information following the incident.  Crypto Users Criticize Cencora Over Non-Disclosure  Following a Bloomberg report that hackers

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Healthcare company Cencora is facing backlash from the crypto community following a $75 million cyber ransom payment in Bitcoin. On-chain analyst revealed the exact BTC transactions in three installments in March. Crypto users advocate tracking hackers and providing more information following the incident. 

Crypto Users Criticize Cencora Over Non-Disclosure 

Following a Bloomberg report that hackers involved in Cencora cyber attacks received $75 million worth of Bitcoin, crypto users have raised eyebrows on certain issues about the incident. According to the report, the drug distributor disclosed the cyber hack which saw information stolen from its systems. 

Subsequently, sources familiar with the matter claimed that the ransom payment to the bad actors amounted to $75 million worth of Bitcoin. The fee which was reduced from an initial $150 million demand was paid in three installments in March with affected individuals notified in May. On-chain investigator ZackXBT threw more lights on the Cencora incident on X (formerly Twitter) after the initial report.

He flagged the company’s non-disclosure of the exact Bitcoin transaction to the Dark Angel ransomware group before revealing the information. Per his findings, the wallets were funded from the same source to accounts with high illicit fund exposure.

296.5 BTC – Mar 7, 2024 at 10:04 pm UTC e3e203db2752edeb5bb716a77ed30f977bee70b06cefecd69d1c38921ad5d1b2

408 BTC – Mar 8, 2024 at 7:45 pm UTC db4a0742aa2fe67c20f02642bb776fb4140cf32beca43b7552435f5eddb58d92

387 BTC  – Mar 8, 2024 at 9:39 pm UTC bf408baa4d6598a42a6852012fe412514ff7bb70ca8a94deb9865c9b46f19ddf”

Wider Community Suggests More Investigation 

After the revelation of the transfers, crypto users suggested tracing the wallets to find the bad actors and recover the assets. This is due to the public nature of blockchain, however, ransomware groups deploy sophisticated laundering processes. Others claimed the Cencora would have spent $75 million on better security to prevent the incident. 

Although the Cencora incident wasn’t a crypto platform scam, several global authorities have flagged crypto being used as a means to move fraudulent payments. Recently, the CFTC announced a partnership to tackle crypto scams and associated matters. 

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Bitcoin ETFs Record Over $400M Inflows, $62K BTC Price In Sight? https://coinpress.live/bitcoin-etfs-record-over-400m-inflows-62k-btc-price-in-sight/ Sat, 14 Sep 2024 23:22:15 +0000 https://coinpress.live/?p=216706 Bitcoin ETFs saw over $400 million in inflows this week as bulls picked up the pace igniting price upticks. This comes after outflows the previous week as the price moved below $55,000. Bitcoin ETF remains a major determinant of market sentiment since its approval on Jan 10 by the United States Securities and Exchange Commission

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Bitcoin ETFs saw over $400 million in inflows this week as bulls picked up the pace igniting price upticks. This comes after outflows the previous week as the price moved below $55,000. Bitcoin ETF remains a major determinant of market sentiment since its approval on Jan 10 by the United States Securities and Exchange Commission (SEC). 

Bitcoin ETFs Notch Weekly Inflows 

This week, spot Bitcoin ETFs recorded over $400 million in inflows ending the previous streak of outflows. This took the total number of Bitcoin bought to 6,892 BTC while producing 2,250 coins in the same period. This shows a sharp increase in demand for the crypto market leader as stakeholders set sights on bullish macro events. 

At the start of the week, BTC ETFs netted $28.6 million in inflows increasing the tempo the following day to $117 million with further positive results. On Sept 13, these products recorded $263.2 million inflows, the highest number since July 22. The change in fortunes for the asset leader has rippled through the industry leading to an uptick in the market cap. 

Fidelity’s FBTC saw $102 million in inflows on Sept leading the pack among Bitcoin ETFs while ArkInvest also recorded positive inflows. However, BlackRock’s IBIT showed no total inflows after starting the week in the red zone. After these products turned green following two weeks of net outflows, Matt Hougan, Bitwise CIO backed these funds pointing to massive institutional adoption amid recent talks of reduced optimism. 

Institutional Adoption Behind Price Recovery 

This year, Bitcoin ETFs pushed the crypto industry to new highs as traditional investors poured in funds. As expected, the wider market saw gains leading several assets to hit new all-time highs off Bitcoin’s momentum. Bitcoin’s price soared above $73,000 in Q1 2024 but has faced significant corrections below the $60,000 mark. 

Outflows from the previous week saw the price of the asset slump below $55,000 leaving a negative impact on the wider market. However, renewed institutional demand saw the price regain $60k before sliding below the resistance. At press time, Bitcoin price stands at $59,819 making a slight decline in the last 24 hours. Popular analyst Van de Poppe wrote on X that Bitcoin price could break out and continue above the $60k mark.

A major factor for the uphill movement in the asset is falling inflation in the United States and a projected cut in policy rates. This is expected to push inflows to risky assets with crypto as a huge beneficiary. Furthermore, MicroStrategy’s recent 18,300 BTC purchase worth approximately $1.1 billion points to heightened institutional demand for the asset. 

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Nvidia CEO Dumps $104M NVDA Stock, Bearish Outlook Ahead? https://coinpress.live/news/stocks/nvidia-ceo-dumps-104m-nvda-stock-bearish-outlook-ahead/ Sat, 14 Sep 2024 18:32:00 +0000 https://coinpress.live/news/stocks// Nvidia CEO Jensen Huang continues his NVDA stock offload raising concerns in many quarters. Recent sales have piled up to $104 million amid the recovery of the asset following a flip in sentiments. This year, Nvidia recorded a significant uptick amid the buzz about artificial intelligence solutions.  Nvidia CEO Sales Top $104 Million  Nvidia CEO

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Nvidia CEO Jensen Huang continues his NVDA stock offload raising concerns in many quarters. Recent sales have piled up to $104 million amid the recovery of the asset following a flip in sentiments. This year, Nvidia recorded a significant uptick amid the buzz about artificial intelligence solutions. 

Nvidia CEO Sales Top $104 Million 

Nvidia CEO continues his present stock offload strategy amid present market sentiments. A new filing shows Huang sold 240,000 NVDA shares worth $26.2 million on Sept 11, a repeat of a similar transaction involving the same number of shares on Sept 9. However, the latter transaction was worth approximately $25 million. 

This month, Huang made additional transactions taking the total number to over $104 million worth of shares. Stretching backward, filings with the Securities and Exchange Commission (SEC) show huge sales totaling 5.3 million shares worth about $633 million. Still, the AI chip manufacturer maintains its lead in the market with increasing optimism due to its widely anticipated Blackwell chips. 

The demand for artificial intelligence solutions sent the asset soaring with a similar spark in AI coins. Nvidia controls 80% of the global chip manufacturing market cap and maintains a positive momentum towards the end of the year. Recently, NVDA stock moved upwards on the developments in exports to Saudi Arabia. The United States government is considering allowing the firm to export chips leading to bullish projects as the company extends its base. 

What’s Next For NVDA Price?

Several commentators opine dumping the stock by the Nvidia CEO will send a bearish signal in the market. This is coupled with the major decline recorded by the asset at the start of the month before the rebound. However, macro factors play a huge role, and the jump in its price last week points to bullish demand. 

The asset has gained 140% this year coupled with a massive impact of AI coins in the crypto space. This week, AI coins surged after Nvidia CEO tipped a new Industrial Revolution based on the industry’s demand. NVDA price is up 13% this week notching a sharp recovery.

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US SEC Intensifies Crackdown on These Crypto, Price Dip Ahead? https://coinpress.live/us-sec-intensifies-crackdown-on-these-crypto-price-dip-ahead/ Fri, 13 Sep 2024 21:06:28 +0000 https://coinpress.live/?p=216552 The United States Securities and Exchange Commission (SEC) has included additional tokens in its securities classification in the Binance lawsuit. Some of the crypto assets include Axie Infinity (AXS), Filecoin (FIL) Decentraland (MANA), etc. The Commission continues its regulatory onslaught on the crypto market citing investor protection.  SEC Includes More Tokens As Securities  The SEC

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The United States Securities and Exchange Commission (SEC) has included additional tokens in its securities classification in the Binance lawsuit. Some of the crypto assets include Axie Infinity (AXS), Filecoin (FIL) Decentraland (MANA), etc. The Commission continues its regulatory onslaught on the crypto market citing investor protection. 

SEC Includes More Tokens As Securities 

The SEC has expanded the list of crypto tokens it viewed as securities in the Binance lawsuit. In a recent filing, the financial regulator included AXS, ATOM, FIL, MANA and SAND. The SEC alleges that Binance offers trading services to these unregistered securities against the rules.

“If Defendants are correct, no resales of “investment contracts” could ever satisfy the Howey test, even if nothing has changed about the economic realities of these transactions. It would erase the term “investment contract” in the context of the Exchange Act, even though the Act’s focus is precisely on transactions in secondary markets—i.e., resales from investors to investors—and even though the Supreme Court has explicitly stated that the term “investment contract” is identical in both acts”

Claims that Binance operated illegally as an unregistered exchange and broker-dealer have also been at the center of the case. The Commission also filed cases against Coinbase and other crypto exchanges as it increased regulatory scrutiny over the industry. Recently, the regulator filed to amend its complaint against Binance and Changpeng Zhao. This sparked a new conversation on the stance of United States regulators. 

Possible Impact on Tokens 

Amid the expansion of the case against Binance, the crypto market has market upticks as sentiments remain positive. However, crypto prices are impacted by regulatory actions as it slow down investment in the sector. As a result, stakeholders in the market intensify their push for clearer regulations to drive innovation.

The crypto listed in the lawsuit by the SEC has picked up gains today. In the last 24 hours, AXS price rose 2.6% to trade at $4.81 while FIL exchanges hands at $3.73 marking a 2.2% upward movement in the last 24 hours. Crypto bulls also suggest an improved drive on anticipated interest rate cuts in the United States. 

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Simon’s Cat (CAT) Price Skyrockets Amid Major Exchanges Backing, Rally To Sustain? https://coinpress.live/simons-cat-cat-price-skyrockets-amid-major-exchanges-backing-rally-to-sustain/ Fri, 13 Sep 2024 17:11:28 +0000 https://coinpress.live/?p=216529 Popular meme coin Simon’s Cat has recorded a huge price upswing following backing from major crypto exchanges. The asset’s price is up 45% this week and over 8% in the last 24 hours. This huge jump in value comes with an increased market sentiment as most tokens swing upwards.  Simon’s Cat Jumps Following Major Listings

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Popular meme coin Simon’s Cat has recorded a huge price upswing following backing from major crypto exchanges. The asset’s price is up 45% this week and over 8% in the last 24 hours. This huge jump in value comes with an increased market sentiment as most tokens swing upwards. 

Simon’s Cat Jumps Following Major Listings

Top crypto exchanges have backed the high-flying token sparking a surge in its price. Bybit announced support for the token by announcing a new perpetual contract listing. The platform disclosed that users could trade up to 12.5 leverage with many around industry quarters lauding the move. 

Listings and other support from crypto exchanges have a positive impact on asset prices due to trading volumes among other factors. Traditionally, meme coins rally on the heels of these developments because the community and holders move off its mainstream adoption. Derivative exchange, Phemex listed POL and CAT as USDT-margined spot trading pairs.

Dear users… At 10:00 UTC on September 13, 2024, Phemex will list the new spot trading pair POL/USDT, and at 12:00 UTC CAT/USDT will be listed.”

Furthermore, HTX added Simon’s Cat perpetual futures with 50X leverage for trades. The exchange noted the asset can adjust the parameters in response to risk and fluctuations. CoinEx Global announced that top traders of CAT will share a $4,500 prize pool. The asset remained among crypto gainers last week following bullish drivers. 

CAT Price Spikes 

CAT price surge continues to attract bullish holders to the assets. This week, the asset soared 45% with several analysts pointing to the meme coin frenzy in Q1 when tokens pulled similar numbers. At press time, Simon’s Cat trades at $0.0000342, moving up 8% in the last 24 hours. 

CAT price surge is expected to cool like other meme coin highs in the long run coupled with wider crypto sentiments. A cut in policy rates would also affect inflows to the asset. Despite this, holders tip more growth for the asset. On-chain factors also place CAT price projection at a better spot than DOGS despite its low popularity.

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Just-In: Ex-FTX Ryan Salame To Begin Prison Sentence on Oct 11, Court Rules https://coinpress.live/just-in-ex-ftx-ryan-salame-to-begin-prison-sentence-on-oct-11-court-rules/ Thu, 12 Sep 2024 22:14:09 +0000 https://coinpress.live/?p=216380 Ex-FTX Digital Market co-CEO Ryan Salame will resume his prison sentence on Oct 11. A United States court has granted the government’s request to move up the date of Salame’s self-surrender. The aftermath of FTX implosion left users with high losses sparking a series of regulatory moves by regulators. Ryan Salame to Resume Prison Sentence

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Ex-FTX Digital Market co-CEO Ryan Salame will resume his prison sentence on Oct 11. A United States court has granted the government’s request to move up the date of Salame’s self-surrender. The aftermath of FTX implosion left users with high losses sparking a series of regulatory moves by regulators.

Ryan Salame to Resume Prison Sentence Two Days Earlier 

A US court granted the government’s motion to move Ryan Salame’s surrender date up to Oct 11. The former FTX Market executive was expected to resume his prison sentence on Oct 13. Salame was sentenced to 7.5 years after pleading guilty to engaging in conspiracy bordering on unlicensed money-transmitting activities among others. 

At a Sept 12 hearing, the prosecution informed the court that US Marshals informed that Oct 13 is a Sunday thereby requesting a move to Friday Oct 11. The embattled former executive is yet to commence jail term following a 45-day request after suffering a dog bite on his face. According to his legal representatives, the extension was needed to undergo urgent surgery and related treatment.

The FTX lawsuits led to jail terms for former CEO Sam Bankman-Fried while Caroline Ellison hopes to avoid jail term ahead of sentencing. Nishad Singh and co-founder Gary Wang will be sentenced in November and October respectively after both entered guilty pleas. 

Twist in Court Proceedings

Ryan Salame previously requested the court to void his guilty plea because the prosecution did not uphold their end of the agreement. As part of the deal, prosecutors were meant to drop the probe against his romantic partner Michelle Bond. 

In the course of proceedings, he tried to move away from his withdrawal of guilty plea but the judge rather grilled him for attempting to misrepresent facts. “You are asking me to let stand a conviction and sentence that I now know is based on a false statement during the plea… and that is a big problem.” The judge further threatened to sanction his legal representatives. 

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AI Coins and NVDA Price Surge as Nvidia CEO Hints At New Industrial Revolution https://coinpress.live/ai-coins-and-nvda-price-surge-as-nvidia-ceo-hints-at-new-industrial-revolution/ Thu, 12 Sep 2024 20:36:04 +0000 https://coinpress.live/?p=216375 AI coins and NVDA prices have ticked upwards following Nvidia’s CEO’s bullish statement on the market. Jensen Huang stated the market is at the beginning of a new Industrial Revolution. The clamor for the innovation and adoption of Artificial Intelligence has led to a rally in associated sectors. Nvidia CEO Makes Bullish Projection  In a

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AI coins and NVDA prices have ticked upwards following Nvidia’s CEO’s bullish statement on the market. Jensen Huang stated the market is at the beginning of a new Industrial Revolution. The clamor for the innovation and adoption of Artificial Intelligence has led to a rally in associated sectors.

Nvidia CEO Makes Bullish Projection 

In a recent CNBC interview, Jensen Huang noted that the market is on the cusp of another Industrial Revolution. This came following a meeting with AI leaders in the United States to steer the sector to new heights. According to him, AI will change computer systems in various areas with the United States looking to shape the sector.

“We were talking about energy about this new industry called AI factories and obviously, we are at the beginning of a new Industrial Revolution. And this industry is going to be producing intelligence and what it takes is energy and a lot of great computer science. We got to make sure that everyone needs to come in, the opportunities of it, the challenges, and doing it in the most efficient and scalable way we can.”

Huang tipped public and private investment for the market based on its growth and its energy use. Artificial Intelligence has sparked a rally in the crypto markets in recent months. This week, XRP Healthcare leveraged on AI with its price gaining 5%. In Q1 2024, the AI buzz led to a widespread rally within the crypto community as several coins marked gains. 

AI Coins and NVDA Surge 

Following Nvidia’s CEO projection, the price of most AI coins spiked as bulls lock gaze at new highs. Near Protocol is up 5.8% in the last 24 hours while Synesis One and Spectre AI are up 19.8% and 13.5% respectively. 

The upward movement of AI coins occurs with bullish sentiment around Nvidia as the chip manufacturer controls 80% of the market. Meanwhile, NVDA stock price gained 2.8% today with the asset continuing its upward trajectory. Recently NVIDIA stock soared amid a deal with the United States and Saudi Arabia in advanced chips. 

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Coinbase To List DOGS And POL Perpetual Futures, Price Rally Ahead? https://coinpress.live/coinbase-to-list-dogs-and-pol-perpetual-futures-price-rally-ahead/ Thu, 12 Sep 2024 18:05:18 +0000 https://coinpress.live/?p=216361 Coinbase International Exchange has announced perpetual futures listing for Polygon (POL) and Dogs (DOGS). The assets will become available for trading on Sept 19 as the frenzy around the coins surges. Crypto users anticipate an increased price rally for both tokens amid the present sentiments.  Coinbase List DOGS and POL Perp Futures  Crypto exchange Coinbase

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Coinbase International Exchange has announced perpetual futures listing for Polygon (POL) and Dogs (DOGS). The assets will become available for trading on Sept 19 as the frenzy around the coins surges. Crypto users anticipate an increased price rally for both tokens amid the present sentiments. 

Coinbase List DOGS and POL Perp Futures 

Crypto exchange Coinbase has listed POL and DOGS perpetual futures sparking sentiments within the crypto community. The perp futures will launch on Coinbase International Exchange and Advance on Sept 19. The platform’s addition of two products to its futures market is in line with its commitment to diversify products to meet global demand.

This move gives traders more sophisticated options to manage digital asset risks while attracting advanced participants to the platform. Crypto enthusiasts lauded the development because of the potential market impact. Listings on top exchanges attract bullish sentiments to crypto assets because of the volume and other factors. On the other hand, the platform also benefits due to the massive influx of users backing these tokens.

Recently, the exchange has announced perp futures contracts igniting positive movements within the community. Coinbase listed Immutable (IMX), and FLOW to increase investment in the derivatives markets. This year, decentralized finance (DeFi) has recorded surging participation from the wider market leading to support for several assets.

What’s Next For DOGS & POL Prices? 

Both POL and DOGS bulls are projecting an upward trend in price following the Coinbase listing. DOGS continues to catch the attention of crypto traders after a series of positive developments. This week, crypto bulls projected a $0.002 price target after crypto exchange Binance announced a DOGSUSD perpetual contract. 

The price surge lost steam due to bearish market sentiments falling 1.25% in the last 24 hours. On the other hand, POL price notched a slight uptick in the same time frame trading at $0.375. The asset’s migration from MATIC to POL has been a major talking point in crypto circles. 

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eToro To Offer BTC, ETH, BCH Crypto Trading Services To US Users Amid SEC Settlement https://coinpress.live/etoro-to-offer-btc-eth-bch-trading-services-after-sec-settlement/ Thu, 12 Sep 2024 14:19:06 +0000 https://coinpress.live/?p=216332 The United States Securities and Exchange Commission (SEC) has announced a settlement with trading platform eToro. The company was in the middle of a regulatory dispute with the SEC over allegations of operating as an unregistered broker and clearing agency with its crypto trading platform. United States regulators continue to clamp down on crypto firms,

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The United States Securities and Exchange Commission (SEC) has announced a settlement with trading platform eToro. The company was in the middle of a regulatory dispute with the SEC over allegations of operating as an unregistered broker and clearing agency with its crypto trading platform. United States regulators continue to clamp down on crypto firms, a move described by many as stifling innovation.

eToro To Limit US Users To BTC, BCH & ETH

The SEC and the trading platform have reached an agreement following charges of offering unregistered trading services to crypto assets. In a Sept 12 release, the securities regulator disclosed that eToro will pay $1.5 million to settle charges and will cease violating applicable federal securities laws. 

SEC’s Division of Enforcement Director Gubir Grewal, explained that the firm will continue its United States operations while maintaining relevant laws. “This resolution not only enhances investor protection but also offers a pathway for other crypto intermediaries…The $1.5 million penalty reflects eToro’s agreement to cease violating applicable federal securities laws as it continues its U.S. operations.”

As part of the settlement, the company will cease trading services to nearly all crypto assets. Per the release, it announced that United States customers will only trade Bitcoin, Ether, and Bitcoin Cash. However, users will be able to sell other assets for 180 days after the Commission’s order. Recently, the SEC revoked the license of crypto lender Salt Blockchain over failure to comply with legal report requirements. 

Optimism For Clear Regulation Grows 

Amid the settlement, eToro disclosed plans for its future stressing the need to create clear regulatory frameworks. Yoni Assia, the company’s CEO noted that while there are clear rules in the UK and Europe, the market expected a similar approach in the United States to enable trading around crypto assets. 

This settlement allows us to move forward and focus on providing innovative and relevant products across our diversified US business. US users can continue to trade and invest in stocks, ETFs, options, and the three of the largest cryptoassets,” the company wrote. Many have pointed to the upcoming US elections to usher in the needed clarity as Donald Trump appeals to crypto voters. 

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CFTC Announces Partnership to Combat Increased Crypto Scams https://coinpress.live/cftc-announces-partnership-to-combat-increased-crypto-scams/ Thu, 12 Sep 2024 00:53:27 +0000 https://coinpress.live/?p=216212 The Commodity Futures Trading Commission (CFTC) announced partnerships with federal and private groups to educate users on popular crypto scams. The programs will see users enlightened on the growing number of “pig butchering” scams and other forms of fake investment concepts. Regulators continue to tighten the markets against rising crypto scams by bad actors.  CFTC

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The Commodity Futures Trading Commission (CFTC) announced partnerships with federal and private groups to educate users on popular crypto scams. The programs will see users enlightened on the growing number of “pig butchering” scams and other forms of fake investment concepts. Regulators continue to tighten the markets against rising crypto scams by bad actors. 

CFTC Discloses Partnership Against Crypto Scams 

The CFTC has tapped two groups in a partnership billed to educate users against cryptocurrency scams. In a recent release, the Commission’s Office of Customer Outreach and Education (OCOE) partnered with the American Bankers Association Foundation and the United States Securities and Exchange Commission’s Office of Investor Education and Advocacy. 

Digital asset-based relationship investment scams are the core of this move as regulators seek ways to curb the growing menace. Melanie Devoe the OCOE Director explained that these scams cost Americans billions annually and investor education plays a key role in preventing an occurrence. 

Partnering with federal and state regulators as well as consumer protection groups and other organizations helps spread the CFTC’s customer education message and hopefully reaches people before they can get scammed. These partnerships focus on a relationship confidence fraud the perpetrators commonly refer to as ‘pig butchering,’ that is estimated to cost Americans billions each year.”

The United States and global authorities have increased the tempo of regulating the market amid growing scams and non-compliance. The CFTC and the SEC have filed several lawsuits against crypto firms for a breach of rules. Recently, the FBI warned against threats of North Korean hackers against Bitcoin ETF issuers. 

Both Parties To Play Diverse Roles 

Per the release, the American Bankers Association Foundation will circulate an infographic to help investors and users spot potential pig butchering scams. It shows the operational practices of bad actors including how they target and groom victims. On the other hand, the SEC’s Office for Investor Advocacy and other regulatory agencies will distribute investor alerts on pig butchering.

It targets individuals who think they would never fall for this type of scam by giving them an introspective on how these fraudsters have perfected their criminal craft to entice even the savviest investors. One way all investors can protect themselves is to stop the scam before it starts by not responding to unexpected or unsolicited text messages from unknown senders.”

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Robinhood Stock Soars as Bernstein Projects $23B Valuation https://coinpress.live/news/stocks/robinhood-stock-soars-as-bernstein-projects-23b-valuation/ Wed, 11 Sep 2024 23:11:26 +0000 https://coinpress.live/news/stocks// After a Bernstein report that projects massive growth, Robinhood stock has surged over 4%. This is due to its foray into the crypto market attracting young users billed to push the platform’s overall market capitalization. HOOD price has recorded a massive 66% year-to-date growth drawing the attention of bulls and crypto users.  Bernstein Makes Bullish

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After a Bernstein report that projects massive growth, Robinhood stock has surged over 4%. This is due to its foray into the crypto market attracting young users billed to push the platform’s overall market capitalization. HOOD price has recorded a massive 66% year-to-date growth drawing the attention of bulls and crypto users. 

Bernstein Makes Bullish Robinhood Prediction

Private wealth management company Bernstein has projected Robinhood’s operating income to soar to about $900 million this year. Analysts at the firm wrote that the company is expected to notch revenues hitting $3.4 billion next year with its market capitalization soaring between $19 billion and $23 billion. 

This comes on the back of the firm’s cryptocurrency investments in recent months. The firm’s crypto foray has led to a massive jump in revenues with recent announcements signaling growth. In Q2 2024, the firm’s crypto-based revenue spiked to $81 million, a 161% rise year-on-year. In June, the company announced plans to acquire Bitstamp for $200 million to integrate its crypto exchange into Robinhood to tap retail and institutional clients in Asia, the EU, the US, and the UK.

Acquiring a global exchange will significantly accelerate Robinhood Crypto’s expansion worldwide. Bitstamp holds over 50 active licenses and registrations globally and will bring in customers across the EU, UK, US, and Asia to Robinhood.”

The company has seen other crypto developments in recent weeks. Robinhood reached a settlement with California authorities and also made a push to expand its services to the UK. Although its stock fell at the time due to the prevailing negative sentiment, analysts tipped wider growth. 

HOOD Price Soars 

Robinhood price has moved up 4.77% today taking weekly inflows above 8% as bulls ramp up activities. The stock continues on an upward trajectory after it agreed to purchase the $600 million stake owned by former FTX CEO Sam Bankman-Fried. The Bernstein report also shows younger people investing in the company as its services become appealing to the demographic. 

According to the report, about 60% of the firm’s assets are purchased by users under 43. This year, HOOD price continues to rally the market in an impressive fashion. The stock is up 66% year-to-date with wider bullish projections for coming quarters. 

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