Khizar Ibraheem

Image attributed to: newsBTC.com Welcome back to another exciting day in the world of Ethereum! If you’re wondering what the latest buzz is, you’re in the right place. Today, we’re diving deep into the latest Ethereum news today, where analysts are buzzing about the potential for ETH to soar above $3,000 as early as next month. Buckle up, because it looks like we’re in for a wild ride! First up, a shoutout to NewsBTC, where analyst Michael van de Poppe has tossed out some seriously optimistic predictions. He claims there’s an 80% chance that Ethereum will break the $3,000 mark in September. That’s right, folks! Despite a current dip, the forecast looks bright, with predictions suggesting a 51% rise in the next three months. Talk about a rollercoaster! But wait, there’s more! Van de Poppe has been tracking Ethereum’s performance and believes we’re on the brink of a significant upward trend. He noted that ETH is currently trading about 6.14% below the anticipated price for next month. This dip might just be a blip on the radar before a massive rally. Remember, the last time ETH saw such a prolonged loss was just before the bear market of 2018. And we all know how that turned out! In terms of technical indicators, ETH has found support around the $2,500 mark, a level often seen before major recoveries. Plus, the stochastic RSI is currently in oversold territory, giving us more reasons to believe that a rally is imminent. If Ethereum can shake off that pesky $3,000 resistance and show some solid demand trends, we could be looking at a significant price surge. Now, let’s talk about demand trends and investor sentiment. While the technical indicators are promising, it’s not all sunshine and rainbows. The biggest altcoin has seen a decline in demand, as reflected by the falling weekly RSI. For Van de Poppe’s optimistic projection to come true, this downtrend needs to be reversed. But here’s the silver lining: US investors are starting to show renewed interest in ETH, as indicated by the positive Coinbase Premium Index. Even futures market speculators are feeling the love, with the Taker Buyer Sell Ratio showing more buying than selling. This bullish sentiment among traders is a strong indicator that Ether is set for a climb. Looking ahead, long-term projections for Ethereum are overwhelmingly positive. According to CoinCheckup, Ethereum is forecasted to rise by a staggering 120% in the next six months and a whopping 145% in the next year. So, if you’re a long-term investor, now might be the time to consider increasing your position in ETH. However, the current price levels, while backed by solid technical indicators and positive investor sentiment, still face hurdles. Improving trends in demand and network activity will be crucial for Ethereum to push above that $3,000 threshold. Investors should keep their eyes peeled for any signs that may confirm the predicted rally. Switching gears, let’s take a look at another piece from NewsBTC that highlights Ethereum’s recent price action. The price of ETH started to pull back from the $2,680 resistance and is now trading below $2,650, putting it at risk of further declines if it can’t hold above $2,550. Ethereum’s price showed signs of weakness after failing to sustain gains above the $2,680 level. It even slipped below the 23.6% Fib retracement level of its upward move. However, bulls are stepping in near the $2,620 level, hoping to keep the price afloat. If ETH can manage to break through that $2,680 resistance, we might see it climb toward the $2,720 resistance zone. But caution is key; if it fails to clear that level, further losses could push the price down to $2,550 or even lower. In summary, today’s Ethereum news is a mix of optimism and caution. With analysts predicting a potential breakout above $3,000, it’s a thrilling time for Ethereum enthusiasts. Keep an eye on those technical indicators, demand trends, and investor sentiment as we navigate through these turbulent waters. Remember, the crypto market is as unpredictable as ever, so stay informed and ready for anything! #ETH #Break #September

“We are evaluating ways to make the Legal & General Investment Management Liquidity funds available in tokenized format,” said Ed Wicks, global head of trading at Legal & General Investment Management (LGIM), when asked about the firm’s plans via email. #LondonBased #Pension #Giant #Legal #General #Enter #Cryptos #Tokenization #Space

At Bitcoin Market Journal, we invest in crypto tokens as if they were stocks. While there are important differences between the two, we analyze crypto “companies” like traditional companies, and diversify our investments with a mix of both. More on our approach here. One of the key metrics we use to analyze winning crypto investments is active loans. In this guide, you’ll learn how they work, and some of the top projects with high active loan balances, including Aave, Spark Protocol, Morpho, Compound, and Venus What are Active Loans? On lending protocols like Aave and Compound, an “active loan” refers to an outstanding loan that has yet to be fully repaid. Typically, the loan recipient provides collateral in the form of other cryptocurrencies. As an analogy, think of margins on a stock account. In a margin account, you can borrow money from the broker to buy more stocks than you could with your own cash. However, to do this, you must put up some of your own assets (stocks or cash) as collateral. The broker lends you money, and you repay them with interest over time. If the value of your stocks drops too much, the broker may require you to add more collateral or liquidate your assets to repay the loan, protecting their downside risk. When you lend on a crypto lending platform, it’s a bit like buying bonds from a government or company. You lend them your money (or crypto), and in return, they pay you interest over time. In blockchain protocols, you lend your assets to borrowers, and in return, you earn a predictable return based on the interest rate agreed upon in the smart contract. Top Crypto Investments by Active Loans Aave: Aave currently has $7.50B in active loans, which has more than doubled year to date. Aave’s active loan balance has increased in part due to its dominant role in the DeFi space. As DeFi gains more mainstream attention, demand for borrowing assets through platforms like Aave naturally rises. Aave has also continued to expand its number of supported cryptocurrencies and stablecoins available for lending and borrowing. This diversification of available assets attracts more borrowers and lenders, contributing to a higher loan balance. Additionally, Aave has worked to build a strong reputation for being a secure and reliable platform, and its governance token, AAVE, allows users to vote on protocol updates. Strong security measures and community involvement tends to attract more borrowing activity, particularly as Aave maintains its standing in the DeFi space. Spark Protocol: Spark Protocol’s current active loan balance is $1.44B, hovering consistently over the $1B mark over the past year. Spark Protocol is deeply integrated with Sky (formerly MakerDAO) and centered around lending USDS (formerly DAI). In 2024, demand for USDS has grown due to its role as a reliable decentralized stablecoin in a volatile market, and this demand has led to an overall increase in Spark Protocol’s loan balance. Sky has also seen growth in USDS minting, particularly through platforms like Spark, which offers attractive borrowing options and low interest rates. An increase in minting USDS means more borrower activity through Spark, thus raising its active loan balance. Spark has also managed to maintain competitive interest rates, making borrowing on the platform more appealing. This attracts users who want to borrow cheaply to either reinvest in other DeFi protocols, hold USDS as a hedge against market volatility, or engage in trading. Morpho: Morpho’s active loan balance is around $766.31M. This crypto project is able to maintain a high active loan balance due to its hybrid lending model which optimizes lending rates by combining both pool-based and peer-to-peer lending. When a direct match is available, borrowers can secure better interest rates via peer-to-peer lending, while any unmatched loans fall back to pool-based protocols, ensuring liquidity. This efficiency attracts more borrowers and lenders looking for improved returns compared to traditional pool-based lending platforms. Morpho also directly integrates with top DeFi lending platforms like Compound and Aave, allowing users to tap into the liquidity of these established platforms – while at the same time, benefiting from Morpho’s interest rate mechanics. Borrowers and lenders can trust the platform’s liquidity and infrastructure while getting better rates, which drives more activity and a higher loan balance. Compound: Compound’s YTD active loan balance is $656.87M, dropping slightly from where it was at the beginning of the year at $937.55M. Compound is one of the largest DeFi lending platforms, and its diversity of supported assets attracts significant liquidity, making it a popular platform for borrowers. Compound also has strong security and a strong smart contract infrastructure, making it a top choice for institutional investors. However, unlike the other crypto projects on this list, Compound’s active loan balance has dropped since the beginning of the year. This is partially due to market volatility and increased competition in the DeFi space, as more new lending platforms have emerged that offer lower fees and better incentives. Whether the project’s active loan balance will increase in the future will depend on several factors, including market conditions, the competitive landscape, and regulatory developments. Venus: Venus’s active loan balance currently sits at $532.55M. Venus’s high active loan balance can be attributed to the stable growth in the Binance Smart Chain ecosystem. Venus was built on Binance and therefore benefits from its overall expansion. As Binance continues to grow thanks to its fast transaction speeds and low fees, Venus sees more participation in lending and borrowing activities. Like Compound, Venus’s active loan balance has also seen a slight drop since the start of the year when it was at $675M. Also similar to Compound, the drop can be attributed to increased competition and regulatory uncertainty. How to Invest Using Active Loans Incorporating active loan data from crypto lending platforms can give you valuable insights into the health of their businesses. Here are a few tips from our analysts: Watch trends over time. Look at a platform’s active loan balance over time to see if it’s

Homepage > News > Business > This Week in AI: Perplexity face hurdles, AI enters filmmaking The New York Times (NASDAQ: NYT) continues its battle against artificial intelligence (AI) companies, this time filing a cease-and-desist order against Perplexity, the AI startup backed by Jeff Bezos. The New York Times claims that Perplexity has violated its copyright by using the newspaper’s content in its outputs without authorization. Perplexity allegedly bypassed paywalls and provided summaries of its articles, essentially allowing users to access premium content without visiting the Times’ website or paying for the content. This isn’t the first time the Times has targeted AI companies for copyright infringement. Earlier this year, the NYT filed a lawsuit against OpenAI and Microsoft (NASDAQ: MSFT), claiming they allegedly used the newspaper’s content to train models like ChatGPT. Similarly, Wired magazine accused Perplexity of scraping its content illegally earlier this year. These cases reflect a never-ending tension between AI service providers and publishers. It’s in the interest of an AI company to get its hands on all the data possible to continue training and improving its AI model, but sometimes, obtaining this data pushes the limits of the law. Even AI companies seem to be aware of this, which is why they try to find workarounds, such as partnering with publishing companies, as OpenAI has done, or going an alternative route like Perplexity is trying to do by creating revenue-sharing models with publishers, offering them a percentage of ad revenue in exchange for the use of their content. Blumhouse Productions tests Meta Movie Gen AI in filmmaking Meta (NASDAQ: META) has announced that Blumhouse Productions—the Hollywood studio behind horror films like Get Out and The Purge—is currently testing Meta’s Movie Gen, an AI model that can produce video with sound. The studio is piloting this AI model, exploring the use of AI in filmmaking, a topic that tends to be contentious in creative industries like film and TV. Many filmmakers argue that AI-generated content lacks the human creativity necessary to create true art. However, Jason Blum, CEO of Blumhouse, sees AI as a tool, not a replacement for humans. “Artists are and forever will be the lifeblood of our industry,” says Blum. “Innovation and tools that can help those artists better tell their stories is something we are always keen to explore.” Blum argues that using AI in productions will remove some of the constraints placed on directors regarding the physical space they can work with and budget restrictions. He expects this to open up a director’s world and give them more creative freedoms, leading to better end products. The debate around AI and art isn’t new. Since generative AI models began gaining the ability to create images and videos, artists have discouraged using AI in most creative productions. They argue that the lack of human touch and creativity in AI’s creation process is a suboptimal, even disgraceful, representation of the creative industries. I believe these arguments are driven more by emotion than logical reasoning. Like many people, artists see AI as a threat to their industry and jobs because it can easily automate people’s work, making them redundant and causing them to lose their livelihoods. Creative endeavors are near the top of this chopping block since it’s much cheaper, easier and faster to have an AI model create something like a poster for a marketing campaign than it is to hire a designer to do the same job. However, I don’t believe the threat of AI is as significant as those who are at risk would like you to think. In many instances, it’s much less likely that AI will 100% replace human workers than AI will complement human workers, as Blum mentioned regarding production. Even if AI were to replace human workers, there would still need to be a human touch in the process, and an individual would need to operate the AI that has replaced the human workers. The person best positioned to do that in creative fields would be a creative individual, someone who knows the rules and guidelines of the industry and is, therefore, able to give the AI system a set of industry-recognized standards to create content that is up to par; in other words, the same artist that AI is allegedly going to replace. As you can see, AI, at least at the moment, is not so much an innovation that threatens to completely remove workers but a tool that requires individuals in various fields to learn new skills to become more proficient and not obsolete in the work they do. The real winners in the AI industry In recent weeks, we’ve explored several current events that beg the question: who is making money in the AI industry? As we’ve covered in the past, we know that it’s not the AI service providers. Instead, the semiconductor companies are cashing in on the AI boom. Taiwan Semiconductor Manufacturing Company (NASDAQ: TSM) (TSMC), the world’s second-largest chip manufacturer, saw its stock rise by 12% following its Q3 earnings report earlier this week. The company reported that revenue in the third quarter jumped 36% year-over-year to $23.5 billion, while net profit increased 54% to $10.1 billion. TSMC credited “extremely robust AI-related demand from customers” for its positive performance. While AI service providers and cloud computing providers scramble to build more data centers with enough computing power to train and run AI models, one constant in this equation is the infrastructure they need to accomplish this. This is why semiconductor companies like TSMC continue to show strong growth quarter over quarter, while AI service providers like OpenAI aren’t expecting profits until the end of the decade. In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn

Get your cryptocurrency news & events at cryptogeni.us!  Welcome to another exciting day in the world of Bitcoin! Buckle up as we dive into the latest happenings that are shaking up the crypto space. First up, we have some intriguing news from Cointelegraph that reveals a staggering 75% of all Bitcoin has been HODLed for over six months. Yes, you heard that right! Despite Bitcoin’s recent drop of 21% from its all-time high, the majority of Bitcoin held in wallets hasn’t budged an inch. According to the on-chain data from Glassnode’s Hodl Wave chart, this is a significant increase from just a week ago when only about 45% of the BTC supply was dormant for at least six months. If you’re curious to know more, check out the full article here. But that’s not all! In a rather quirky turn of events, an AI startup named Osmo is attempting to answer the age-old question: What does Bitcoin smell like? Yes, you read that right! This ambitious project aims to teleport digital scents, and while it might sound like something out of a sci-fi movie, the technology could potentially help detect diseases like cancer. If you want to know more about this olfactory adventure, head over to Cointelegraph’s article here. Now, let’s talk about Bitcoin ETFs. According to another Cointelegraph article, Bitcoin bulls should steer clear of MicroStrategy’s new leveraged ETF. The ETF, launched by Defiance ETFs, takes on unnecessary risks and is likely to underperform compared to spot Bitcoin. With a whopping $22 million in volume on its first day, the Defiance Daily Target 1.75X Long MSTR ETF aims to provide 175% long daily targeted exposure to MicroStrategy’s stock. However, seasoned investors might want to think twice before diving in. For more insights, read the full article here. In more bullish news, Bitcoin is hinting at an upward price phase, with metrics aligning at the $60.6K level that traders are eager to beat. As the price action showed strength on August 18, Bitcoin sought to reclaim the $60,000 mark. Data from Cointelegraph Markets Pro and TradingView revealed local highs of $60,271 on Bitstamp. For those interested in the technical analysis, you can read more about it here. Meanwhile, crypto analyst Benjamin Cowen has some thoughts on Bitcoin dominance, suggesting it may not return to the lofty heights of 70% again. Cowen predicts a target of 60% dominance, explaining that during major altcoin seasons, Bitcoin’s market cap ratio tends to decline but gradually returns after the breakdown. For a deeper dive into this analysis, check out the article here. Switching gears to mining news, Hut 8 Corp. reported a staggering $71.9 million loss in Q2 2024, despite a 72% surge in Bitcoin mining revenue. The company’s revenue rose to $35.2 million, but a significant loss was attributed to fair value adjustments of digital assets. CEO Asher Genoot remains optimistic about the company’s restructuring efforts and upcoming initiatives. You can find the full report here. In a similar vein, TeraWulf reported a 21% drop in Bitcoin mining but managed to surpass revenue estimates in Q2. The company mined 699 BTC, down from last year’s numbers, but its revenue of $35.6 million exceeded expectations. TeraWulf is also focusing on a large-scale HPC and AI project, which could position it for future growth. For more details, read the article here. Finally, in a bullish twist for Bitcoin adoption, the Norwegian government has increased its sovereign fund’s BTC exposure. The Norges Bank Investment Management fund has upped its holdings to 2,446 BTC, marking a 62% increase in the first half of 2024. This move indicates a growing acceptance of Bitcoin as a legitimate asset. For all the juicy details, check out the article here. And there you have it, folks! A whirlwind tour of today’s Bitcoin news. From HODLing to innovative AI projects and ETF discussions, the crypto world is buzzing with activity. Stay tuned for more updates and keep your crypto game strong! The post Latest Bitcoin News Today: HODLing, ETF, and..SMELLING Woes? appeared first on Crypto Genius™. #Latest #Bitcoin #News #Today #HODLing #ETF #and..SMELLING #Woes

Only two assets were trading lower, including Aptos and Litecoin. #CoinDesk #Performance #Update #LINK #ICP #Gain #Index #Trades #Higher #Thursday

At Bitcoin Market Journal, we invest in crypto tokens as if they were stocks. While there are important differences between the two, we analyze crypto “companies” like traditional companies, and diversify our investments with a mix of both. More on our approach here. Key Takeaways: Since its inception in 2015, Ethereum has maintained a dominant position as the leading smart contract platform, benefiting from its first-mover advantage, and now holds over 57% of the total value locked in decentralized finance (DeFi). Ethereum’s status is further reinforced by the growing adoption of layer-2 solutions such as Arbitrum, which significantly enhance its scalability and reduce transaction costs, making the network more accessible and efficient. The widespread adoption of Ethereum by developers and users has created a powerful network effect: more developers lead to more applications, which attract more users, and this, in turn, draws even more developers. This self-reinforcing cycle makes it difficult for competitors to displace Ethereum as its ecosystem continues to expand and strengthen. In 2013, while most twenty-somethings were planning their weekend parties, a nineteen-year-old programmer named Vitalik Buterin was dreaming of revolutionizing the digital world. Nestled in his modest apartment, surrounded by empty energy drink cans and the soft glow of multiple monitors, Buterin wasn’t just writing code—he was reimagining the future. Buterin loved bitcoin, but he also saw its limitations. He yearned for a platform that could support not just financial transactions, but entire applications. But when he pitched the bitcoin core development team on the idea, they weren’t interested. Vitalik formed a supergroup of developers, including Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin, to create the core of what would become the Ethereum founding team. Each brought unique skills and perspectives to the table, from Buterin’s programming prowess to Wood’s expertise in formal verification. Their concept for Ethereum was a “world computer” that could run any program imaginable, limited only by the boundaries of human creativity. Bitcoin was designed as digital money, but Ethereum would be like an operating system for crypto. Launching an initial coin offering (ICO) in 2014, they raised $18 million to fund their digital dream. A year later, on July 30, 2015, the Ethereum network roared to life, its genesis block marking the beginning of a new era. By 2017 Ethereum found itself at the center of a digital gold rush. Entrepreneurs flocked to the platform, launching ICOs that turned lines of code into digital fortunes. Ethereum nearly buckled under the pressure, but emerged stronger and better, as it would through each boom-and-bust cycle to follow. September 2022 marked Ethereum’s coming of age. In an event known as “The Merge,” the network switched from Proof of Work to Proof of Stake, one of the most technically ambitious projects in modern history, and vastly reducing its energy consumption. Today, Ethereum stands as more than just a technological platform: it’s the backbone of much of the crypto industry. As new layer-2 solutions expand its capabilities and lower transaction costs, it’s clear that Vitalik’s vision has truly transformed the world. But long-term leadership is not guaranteed, as new layer-1 competitors launch every month. So does ETH remain a good investment? Here’s our analysis. Key Fundamental Data What do the numbers say about the fundamental health of this company? Daily Active Users (DAU): According to Token Terminal, Ethereum’s DAU has remained consistent over the past year, hovering around 300k. While the network has always been able to maintain its user base, other Layer-1s like Solana (993k) and Tron (1.9 million) are currently recording higher DAUs than the Ethereum mainnet. Fees and Revenues: Ethereum generates revenue through network fees, commonly known as gas fees. However, these fees have historically been a challenge for the network, as high demand during peak periods lead to expensive transaction costs. Fortunately, the rise of layer-2 solutions is addressing this problem by offloading transactions from the main Ethereum chain, significantly reducing costs while still utilizing ETH for fees. This development is making Ethereum more accessible and sustainable for a broader range of users. Market Cap: ETH has a market cap of $314 billion and has held the number two position for several years. Over the past year, ETH’s market cap has increased by 55%. When compared to other layer-1 tokens, ETH remains far ahead, with BNB at $78 billion, SOL at $66 billion, and TON at $17 billion. Market Analysis How big is the market, and is it growing? Who are the customers? Problem that it solves: Ethereum is a smart contract platform that facilitates the building of decentralized applications (dapps). It addresses the need for a platform supporting a decentralized economy. Customers: Ethereum’s customers include developers building dapps and tech-savvy users interacting with them. This also includes layer-2 users who require ETH to transact. Value creation: Ethereum’s value proposition lies in enabling users to access a range of dapps that operate without intermediaries, from financial services to web3 games. Market structure: The layer-1 space is relatively saturated, but Ethereum, with its first-mover advantage, remains the established leader in the space. Market size: With a collective TVL of $71 billion, according to CoinGecko, the potential market size of this space is significant. As the largest and most popular layer-1, Ethereum is well-positioned to benefit from its growth. Regulatory risks: As the largest layer-1 platform and one of the most widely known cryptocurrencies, Ethereum faces ongoing regulatory risks, though the U.S. SEC has definitively ruled it is not a security, and approved ETH ETFs to be sold. Our analysts rated ETH a 4 out of 5 for market analysis. Download the complete scorecard here. Competitive Advantage How big is the company moat? Can they defend against competitors? Technology/blockchain platform: Ethereum has proven to be one of the most robust blockchains and is widely perceived as the standard for other layer-1 platforms. Lead time advantage: Ethereum initially had a significant lead time advantage, but this has diminished as they now face strong competition from other projects. However, none of these

Homepage > News > Business > Binance exec denied bail; DOJ wants 18 months for Bitfinex hacker Tigran Gambaryan’s ordeal at the hands of Nigerian authorities is not any closer to an end after an Abuja court dismissed his bail application this week. The Binance executive set out to convince the judge that his medical conditions warranted the attention of a specialist but ended up being accused of “abuse of the judicial process.” Elsewhere, New York rapper “Razzlekhan” who was part of the duo that stole and laundered 120,000 BTC from Bitfinex might spend less than two years behind bars for her crime. U.S. prosecutors called on the presiding judge to be lenient as she had been cooperative since her arrest two years ago. Binance’s Gambaryan denied bail, again Gambaryan, the head of global intelligence at Binance, was denied bail on October 11 in Abuja as the court again sided with the country’s financial industry tsar, the Economic and Financial Crimes Commission (EFCC). Gambaryan’s bail application was entirely dependent on his assertion that he needed urgent medical attention, which the Nigerian jail system couldn’t provide. In a previous hearing in September, he appeared frail and could barely walk, claiming that authorities had denied him access to a wheelchair despite his herniated disc.  Judge Emeka Nwite remained unmoved in the hearing this week.  “There is no evidence before this court that the Nigerian Correctional Service cannot handle the health challenges of the accused,” he ruled. In May, Judge Nwite dismissed a similar bail application, insisting that the former IRS officer could get the medical attention he required while detained. Gambaryan appealed the ruling, which didn’t sit well with the judge in the recent hearing.  Judge Nwite stated that his latest request “amounts to abuse of judicial process to admit the accused to bail while an appeal is pending at the court of appeal.” Gambaryan was detained in February alongside his colleague, Nadeem Anjarwalla, a Kenyan-British citizen based in Nairobi who heads Binance’s African operations. Anjarwalla, however, managed to escape custody, slipping away from a mosque after his evening prayers. Authorities have claimed to have traced him back to Kenya, but he has not been arrested again since. His family’s close ties to the upper echelons of power in the East African country have been said to play a part. The EFCC has charged Gambaryan and his employer with laundering $35 million. He had also been accused of tax evasion, but those charges have since been dropped.  Binance said it’s “deeply disappointed” by the Abuja court’s decision, reiterating that Gambaryan has “been unlawfully detained for over 220 days.” The exchange insisted that he was not a decision-maker, so Nigerian authorities had no good reason to hold him.  It’s worth noting, however, that Nigeria has been summoning Binance’s decision makers, including CEO Richard Teng, for several months, and they have all snubbed the summons. Yuki, Gambaryan’s wife, pledged to continue fighting for her husband’s freedom, adding that it was “completely unjust to deny someone in Tigran’s condition the opportunity to seek appropriate medical help.” The case resumes on October 18. DOJ wants 18 months for $8 billion Bitfinex hacker While Nigerian authorities bite down in their case against Gambaryan, U.S. feds are calling for the courts to be lenient with one-half of the duo alleged to have stolen and laundered over $7 billion from Bitfinex exchange. In a filing in the District of Columbia, the Department of Justice (DOJ) recommended 18 months in prison for Heather Morgan, also known by her rap moniker ‘Razzlekhan.’ Such a sentence “would adequately serve the interests of justice.” Razzlekhan was charged with being an accomplice in her husband Ilya Lichtenstein’s 2016 Bitfinex hack, in which he stole 120,000 BTC, now worth $7.85 billion. DOJ now says that Lichtenstein only told his wife about the hack four years later and directed her to launder the proceeds.  Initially, the DOJ believed the couple acted together, but Lichtenstein took responsibility for the hack and the laundering in his plea deal. “The defendant joined the conspiracy with the intent of assisting Lichtenstein in laundering the stolen funds and later understood that in so doing, she was conspiring to conceal his involvement in the previous hack of Bitfinex,” the prosecutors said. Razzlekhan faced five years behind bars for money laundering conspiracy and another five for conspiracy to defraud the U.S. However, as she has no criminal history, wasn’t directly involved in the hack, and cooperated with the government in its investigations, the DOJ recommended 18 months in prison, followed by three years of supervised release. As part of the deal, she must return to Bitfinex the digital assets the government seized from her, collectively worth just over $6 billion. Razzlekhan will be sentenced on November 15, while her husband will be sentenced a day prior. Watch: Teranode & the Web3 world with edge-to-edge electronic value system title=”YouTube video player” frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen> #Binance #exec #denied #bail #DoJ #months #Bitfinex #hacker

Get the latest Ethereum news today at cryptogeni.us! Welcome back, Ethereum enthusiasts! Let’s dive into the latest happenings in the Ethereum world, where the news is buzzing and the prices are, well, a bit shaky. Today, we’re looking at some significant drops in DApp activity, historic lows in gas fees, and what it all means for ETH. So buckle up! First off, let’s talk about the alarming drop in Ethereum’s decentralized application (DApp) volumes, which have plummeted by a staggering 33% in just a week. According to a report from Cointelegraph, while Ether (ETH) has been trading in a tight $230 range since August 9, it has seen a significant decline from its previous highs, with current trading prices hovering around $2,550. This decline marks a 20% drop from earlier this month when ETH was above $3,300. What’s behind this DApp downturn? Well, it seems that a lack of bullish momentum is partly due to the performance of newly launched spot Ether exchange-traded funds (ETFs), which have faced net outflows of about $30 million since their launch. Yikes! It appears that investors are a bit hesitant, and this could signal more potential weakness ahead for ETH prices. On a brighter note, Ethereum’s gas fees have hit a five-year low, as reported by CryptoPotato. On August 19, research firm Kaiko noted that the average gas fee on layer-1 Ethereum has dropped to just 2.15 Gwei, translating to a mere $0.13 per transaction. This is the lowest it’s been since 2019, and it’s largely attributed to the increased activity on layer-2 networks and the Dencun upgrade that took place in March. But what does this mean for Ethereum’s supply? Well, the reduction in gas fees could have implications for the issuance of ETH and the amount that gets burned when gas is used. Kaiko suggests that while demand drivers like spot ETH ETFs might be on the rise, this growing supply could dampen any potential price increases in the near future. In fact, since April, the supply of ETH has increased by 0.2%, adding around 223,000 ETH to the market, valued at approximately $591 million at current prices. Now, let’s not forget about the transaction costs, which have also hit historic lows. As per NewsBTC, Ethereum’s daily mean gas price has fallen to roughly 2.9 Gwei, with average transaction fees now sitting at around $0.85. This is a multi-year low, and it shows that despite lower costs, user activity on the network remains stable, indicating a healthy ecosystem. So, what’s causing these plummeting transaction costs? According to CryptoQuant analyst EgyHash, the Dencun upgrade has played a significant role. This upgrade introduced a new transaction type called ‘Blobs,’ which allows layer-2 networks to post their data on Ethereum at significantly reduced fees, making it more accessible for users. However, while this is great for users, it poses challenges for investors, as the increased usage on layer-2 networks could lead to liquidity fragmentation. Despite these challenges, ETH prices have shown some resilience, climbing to $2,662 during the Tuesday morning Asian trading session. However, they have struggled to break resistance above $2,750. Analysts suggest that the low gas fees might signal a price bottom, which could be a glimmer of hope for investors. In summary, the latest Ethereum news today paints a mixed picture. With DApp volumes dropping and gas fees hitting historic lows, the landscape for ETH is shifting. The impact of these developments on ETH prices remains to be seen, but one thing’s for sure: the Ethereum community will be watching closely. Stay tuned for more updates! #DApp #Volumes #Plummet #Gas #Fees #Hit #Lows

“Today, Grayscale filed to uplist Grayscale Digital Large Cap Fund as a diversified multi-crypto asset ETP on NYSE Arca. The fund is currently trading under ticker: GDLC, and continues to meet growing demand by providing diversified exposure to crypto through a portfolio of market-leading digital assets. This filing reflects Grayscale’s steadfast commitment to making the crypto asset class more accessible for all investors,” a spokesperson told CoinDesk. #Grayscale #Turn #MultiToken #Fund #Tracking #BTC #ETH #SOL #Among #ETF