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With the signing of a basic agreement for a business partners hip with Saudi Aramco (SAOC), Japanese crypto currency financial group SBI Holdings has announced it is considering a partners hip with Saudi Arabia’s state-owned oil company. Indeed, this partnership envisions the joint development of projects such as the construction of semiconductor factories on territories of both Japan and Saudi Arabia, as well as co-investing in each other’s digital asset portfolios, according to a report published on December 11. Specifically, the collaboration would take place in three areas – cooperation and mutual investments in the cryptocurrency field, discovery and support of Japanese crypto startups interested in expanding to Saudi Arabia, and launch of projects related to semiconductors, such as establishing factories in both countries. As it happens, SBI has been actively pursuing initiatives in the Middle East, particularly regarding the establishment of investment funds in partner...

While New Year’s Eve is just around the corner, excitement is also growing in the crypto currency industry, as witnessed in the sector’s representative asset, Bitcoin (BTC), racing above the $43,000 price threshold and most other crypto currencies following its cue. With this in mind, Finbold has analyzed the crypto sphere to arrive at several digital currencies that might be a great buy this New Year’s if investors are inclined to spend their money not just on champagne and fireworks but also on crypto assets with great potential. #1 Shiba Inu (SHIB) As it happens, Shiba Inu (SHIB) has recently made a breakout, becoming another major ‘dog coin’ to join the wider crypto rally, according to the Analysis by Jake Wujastyk, accompanied by a significant spike in trading volume in recent days, as Finbold reported on December 6. SHIB price action analysis. Source: Jake Wujastyk Meanwhile, Shiba Inu was at press time changing hands at the price of $0.00000958, recording a decline of 3...

The era of declaring the NFT market dead is a thing of the past. Recent data serves as a strong testament to the resilience of the Ethereum NFT market, unveiling a thriving landscape with a transaction volume reaching an impressive $34.786 million. This surge, the highest since June 29, is underscored by remarkable performances from various NFT projects, including double-digit percentage gains within the last 24 hours for DeGods and others. The breakdown of this dynamic activity reveals that Blur constitutes a substantial 80% of the transaction volume, while OpenSea contributes 18%, emphasizing the diverse and expanding nature of the Ethereum NFT ecosystem. Source Notable Successes in Prominent NFT Ventures Several significant NFT projects have experienced substantial price increases, enhancing the overall vibrancy of the market. Pudgy Penguins, Azuki, and Milady are notable examples, with Pudgy Penguins achieving a new high by surging over 18% to exceed 10 ETH. Golden Finance re...

The National Anti-Corruption Bureau of Ukraine has seized crypto assets worth $1.5 million from Yury Shchigol, ex-chief of the Special Communications Service. Shchigol, along with his deputy Victor Zhor, is accused of misappropriating approximately $1.8 million in government funds. The pair’s alleged scheme involved the Special Communications Service—responsible for inter-governmental communications—overpaying for software and services from two unnamed firms. These purchases, intentionally made without open auction to evade transparency, resulted in the government paying 285 million hryvnias — around $7.8 million — for services that cost significantly less, totaling 223 million hryvnias, or $6.1 million. The difference, its claimed, was pocketed by Shchigol and Zhor. You might also like: Ukraine’s ministry hopes blockchain can dismantle corruption The assets seized from Shchigol include 6.9 BTC, 1.2 million USDT and 331 TRX. Zhor has also been arrested, as reported b...

Navigating the crypto landscape can be daunting, given its inherent volatility, evolving regulatory frameworks, and the constant influx of new tokens. Amidst this dynamic environment, three alt coins , Galaxy Fox (GFOX), Shiba Inu (SHIB), and Polygon (MATIC), are closely being tracked. Galaxy Fox: merging gaming and crypto Galaxy Fox offers a new approach to play-to-earn (P2E) gaming. Launching on Ethereum, Galaxy Fox can reshape the gaming industry by introducing an ecosystem where gamers can earn coins and non-fungible tokens (NFTs) while enjoying a web3 game. Galaxy Fox has a runner game. Following each gaming session, the top 20% of players are rewarded with in-game currencies that can be exchanged for GFOX, the platform’s native token.  You might also like: Polkadot holders shifting attention to GameFi Coins, including Galaxy Fox To increase their chances of victory, gamers can boost their attributes by purchasing Galaxy Fox NFTs and temporary boosters from t...

Into The Cryptoverse CEO Benjamin Cowen recently discussed Ethereum’s (ETH) performance in relation to Bitcoin’s (BTC) dominance as the flagship digital asset. In a recent YouTube video, Cowen suggests a continued rise in Bitcoin dominance (BTC.D), indicating that Ethereum may lag behind and show smaller gains compared to BTC.  Cowen explains that his crypto portfolio has predominantly held more Bitcoin because he anticipates that BTC will outperform numerous assets, though not all.  Additionally, Cowen notes that Ethereum against Bitcoin (ETH/BTC) is encountering substantial resistance after falling below the trendline and attempting a retest. You might also like: Bitcoin and Ethereum outperform traditional assets in 2023 A BTC rally would result in the breakdown of Ether-Bitcoin, he explained. He pointed out how the ETH/BTC pair finally broke the wedge to the downside, highlighting that it’s akin to what happened in the last cycle. As ...

The Commodities and Futures Trading Commission ( CFTC ) has released its annual report for 2023, detailing a record number of enforcement actions this year — 50% of which involved crypto or digital assets. Released on Tuesday, the CFTC’s annual results for fiscal year 2023 outlined several high-profile cases that have reverberated through the crypto industry. Charges brought against Sam Bankman-Fried, FTX, Alameda Research, and his co-conspirators received first mention in the report, followed by its case against Binance and its founder, Changpeng Zhao. This year’s “litigation victories,” as the CFTC puts it, featured several more crypto cases . July’s complaints against Celsius and its chief exec Alex Mashinsky made the honor roll, along with charges against Avraham Eisenberg and a first-of-its-kind enforcement against Ooki DAO. Not to mention a whopping $1.7 billion civil monetary penalty (CVM) against Mirror Trading International, marking th...

JPMorgan predicts the ending of the recent crypto market selloff, forecasting limited downside and potential stability in the near term. The latest downturn in the cryptocurrency markets seems to be approaching a conclusion, according to a new analysis by JPMorgan Chase & Co. The firm argues that long-position liquidations in the crypto world are mostly resolved and that further sharp declines are unlikely. While still echoing, the crypto markets’ recent behavior suggests that the market’s unwinding phase is near its end. Open interest in the futures contracts of Bitcoin (BTC) traded on the Chicago Mercantile Exchange (CME) indicates that the market’s correction is nearly over. Open interest, a measure representing the number of unsettled and active futures contracts, typically shows when a price trend might weaken. Analysts, including Nikolaos Panigirtzoglou, have noted that the decrease in open interest signals the potential end of the recent selloff. As a r...

Bankrupt exchange FTX wants to hire Mike Novogratz’s Galaxy to assist with selling, staking, and hedging its crypto assets. The proposed agreement would see Galaxy managing and trading certain digital assets owned by FTX to convert them into fiat currency or stablecoins. Additionally, Galaxy would be responsible for hedging FTX’s exposure to volatile cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). Galaxy’s compensation would consist of a monthly management fee divided into a hedging fee based on the average net asset value of the assets being hedged and a liquidation fee calculated from the total proceeds of liquidated assets. FTX’s decision to hire an external investment manager like Galaxy is seen as beneficial due to Galaxy’s ability to sell significant crypto currency positions without adversely affecting the market. Galaxy’s confidential execution of trades would also prevent any unintended price movements. You might also like: ...

CoinDesk has reportedly laid off approximately 40% of its editorial staff in preparation for its forthcoming acquisition by Matthew Roszak and Tally Capital alongside Peter Vessenes of Capital6. The cuts come just months after CoinDesk journalists were awarded a George Polk Award for their reporting, which helped expose Sam Bankman-Fried, FTX, and Alameda Research. The knock-on effects of that reporting have led to a number of bankruptcies across the ecosystem, including at CoinDesk ’s sister company Genesis. This may have been a potential motivating factor in Digital Currency Group’s (DCG) decision to look for a buyer for the outlet.  Roszak, one of the reported acquirers, has a long history in the Crypto currency ecosystem, dating all the way back to the days of Mt. Gox . The Context: CoinDesk needs a better buyer The investor group that may acquire CoinDesk won’t make good custodians says @BennettTomlin. Subscribe and read https://t.co/Uck4gCfTQT pic.twitter.com...

One of Thailand’s leading venture capital firms says it’s focused on boosting web3 adoption in its home country and the region by investing strategically in startups developing essential tools for onboarding new users.  KX, a venture builder subsidiary of Kasikorn Business Technology Group, has today announced that it invested in  Magic and Transak  earlier this year as part of its comprehensive strategy focused on “decentralized commerce.” The firm believes Southeast Asia can play a crucial role in its growth and wants to be at the front and center of that drive . The region already ranks very highly in crypto adoption , with Vietnam, the Philippines, and Thailand all rated as the top 10 countries by Chainalysis, a blockchain Analysis firm. You might also like: Vietnam second largest ASEAN crypto holder The report also notes that crypto activity in the region is drive n by trading activity and decentralized finance (defi).  Southeast Asia also has numerous web3 s...

ChatGPT creator Sam Altman’s Crypto project , the controversial Worldcoin, has been placed on hiatus in Kenya — where hundreds of thousands have already signed up — amid concerns by the government over the collection of biometric data. “The Government is concerned by the ongoing activities of an organization calling itself ‘WORLD COIN’ which is involved in the registration of citizens through the collection of eyeball/iris data,” said Kenya’s Ministry of the Interior on Wednesday in a Facebook post. Inquiries and investigations by security, financial, and data protection agencies have already commenced, the press release said, to establish “the safety and protection of the data being harvested, and how the harvesters intend to use the data.” If these probes uncover “any risks to the general public whatsoever,” Worldcoin will remain suspended . Worldcoin is a dystopian eyeball-scanning crypto project. Orb stations (ball-shaped cameras) scan your iris to “distinguish hu...

Sam Altman’s newly established crypto currency venture, Worldcoin , has been drawing regulatory attention, with France being the latest country to take notice. The French privacy watchdog, CNIL, has acknowledged the launch of Worldcoin by the co-founder of ChatGPT. However, the regulator has raised concerns about the legality of the company’s biometric data collection practices. According to a recent report, CNIL suggested that the iris scanning that Worldcoin requires “seems questionable.” CNIL said, “Worldcoin collected data in France, and the CNIL initiated investigations.” This distinctive project has garnered attention due to its unique verification process. This involves iris scanning, setting it apart from typical crypto projects. To achieve full verification, users are required to scan their irises using a customized device called Orb. This German-manufactured product creates a unique identifier. Currently, there are about 200 Orb...

Multiple tokens adorned with the label ‘X’ emerged on various decentralized exchanges as Twitter, under the leadership of Elon Musk, initiated a transition from its recognizable blue bird emblem to an ‘X’ insignia. The first indication of this imminent shift was given by Musk in a tweet during the weekend. This was later substantiated on Sunday, July 23, by Twitter’s CEO, Linda Yaccarino. “X represents the boundless potential of a new era of engagement encompassing audio, video, messaging, and even banking transactions, shaping a worldwide forum for the exchange of thoughts, merchandise, services, and opportunities,” stated Yaccarino. “AI will be the driving force behind X, linking us in manners we are just beginning to comprehend.” The transition to X Corp began in April 2023 when Musk integrated Twitter into the newly formed corporation. Around the same period, he registered X.AI Corp., an artificial intelligence startup. Twitt...

Bank of England Governor Andrew Bailey declares cryptocurrencies as “extremely speculative investments” and emphasizes the need for enhanced digital money. During his recent London Financial and Professional Services Dinner speech, Bank of England’s governor Andrew Bailey expressed skepticism towards crypto currencies. He stated that bitcoin (BTC) and other cryptocurrencies do not meet the standards to be recognized as money, classifying them as “extremely speculative investments.” Bailey emphasized the importance of singleness and finality of settlement, the two foundations he believes are essential for safe money. Singleness refers to the assurance that money holds the same value regardless of its form, ensuring equal exchangeability. The finality of settlement implies confidence that a payment has been effectively completed. Bailey’s preference for what he called “enhanced” digital money became evident as he highlighted its potent...

Since its inception, the Shiba Inu [SHIB] network has been actively introducing a series of updates. This has kept the community intrigued and engaged. The lead developer of the network, Shytoshi Kusama, recently published a blog post. In this, he unveiled a new event called “Shibapendence Day,” adding to the excitement surrounding the project. What is Shibapendence Day? In the recently released blog post titled Shibapendence Day, Kusama drew attention to the longstanding presence of a centralized system that has endured for centuries. The network aims to disrupt this centralized model by introducing decentralization through the launch of ShibaSwap. The blog post further stated, “With the imminent release of ShibaSwap, we are proud to lead the charge towards the dawning of a new era by presenting the first truly decentralized exchange and declaring our Shibapendence!” “Shibapendence Day” by Shytoshi Kusamahttps://t.co/YSLFQP38of $SHIB...

Verge (XVG) was once a popular crypto but it had lost relevancy, until now. The token has rallied by 39.7% in the last 24 hours . Moreover, it has gained 305.9% over the previous two weeks. It is also up by 108.2% on the yearly charts.  Source: CoinGecko According to Santiment, Verge’s market cap more than tripled in 48 hours, accounting for more than a 209% increase. The crypto analysis platform noted that XVG is currently at the top of its trending list. However, the firm cautioned users to “watch for the FOMO effect.” Also Read: Pepe Coin Emerges as a Top 3 Gainer, Surges By 18% 🥳 The market cap of #Verge has more than tripled (+209%) in just 48 hours, and it's unsurprisingly the top trending asset in #crypto. $XVG is seeing tremendous #bullish sentiment, as our #AI bot explains. But watch for the #FOMO effect. 👀 https://t.co/SesIpSIXlh pic.twitter.com/RKCqHrW7lo — Santiment (@santimentfeed) July 4, 2023 Verge...