Fun

News Feed - 2023-08-02 05:08:00

Adrian J. Permal4 hours agoWas Sam Bankman-Fried behind a scam project?This week’s episode of The Market Report explores allegations that SBF was behind the recent BALD token rug pull and dissects why Bitcoin is falling below $29,000.1386 Total views3 Total sharesListen to article 0:00Cointelegraph YouTube SubscribeJoin us on social networksIn the latest episode of “The Market Report,” analyst and writer Marcel Pechman discusses the BALD token rug pull and the allegations pointing toward FTX founder Sam “SBF’ Bankman-Fried as the culprit. The token launched on Coinbase’s Base network, which is currently under development, and witnessed incredible gains between July 30 and 31.


Pechman notes that it is impossible to know how much fake volume and how many trades involving the same entity or small groups were used to prop up BALD’s price on decentralized exchanges (DEXs). Further evidence for this hypothesis is the 85% price plunge shortly after BALD’s developer removed the liquidity deposited in DEX pools.


According to internet sleuths, the evidence pointing to SBF being the mastermind of the rug pull includes funding from wallets associated with FTX and Alameda Research, the fact that BALD’s developer was one of the first voters on proposals for decentralized finance project SushiSwap, language used in tweets, and DYDX farming activity.


While Pechman believes SBF certainly has the technical knowledge to issue tokens and offering liquidity pools on DEXs, there is no way to know what sort of devices and internet access he currently has while under house arrest.


Now, on to the show’s next topic: Pechman explores why the U.S. Dollar Index’s recent gains from a one-year low could be the leading cause for Bitcoin’s (BTC) drop below $29,000. For Pechman, this illustrates investors’ confidence in a soft landing by the United States Federal Reserve, meaning the recession will be mild.


Want to know if Pechman thinks the U.S. government will be able to roll over and issue new debt in the second half of 2023 and what the consequences will be for Bitcoin’s price? Get answers to those answers on the latest episode of The Market Report, which runs exclusively on the new Cointelegraph Markets & Research YouTube channel.# Bitcoin# Altcoin# Analysis# Bitcoin Price# Bitcoin Analysis# Market Update# Sam Bankman-Fried# Interest RatesAdd reactionAdd reactionRelated NewsHow to use index funds and ETFs for passive crypto incomeWe need to fundamentally change how smart contracts operateWhy is the crypto market up today?Why is Bitcoin price up today?How low can the Bitcoin price go?Bitcoin ETFs: Even worse for crypto than central exchanges

News Feed

Hong Kong virtual banks eye Web3 growth despite regulatory hurdles
Josh O"Sullivan11 hours agoHong Kong virtual banks eye Web3 growth despite regulatory hurdlesDespite capturing just 0.3% of retail bank assets, Hong Kong’s virtual banks are exploring opportunities in the Web3 space.11
Deutsche Börse launches spot cryptocurrency trading platform
Helen Partz13 hours agoDeutsche Börse launches spot cryptocurrency trading platformLaunched jointly with the custody provider Crypto Finance, the DBDX offers an ecosystem for crypto trading, settlement and custody for i
Australia cracks down on online gambling with crypto, credit card ban
Ezra Reguerra1 hour agoAustralia cracks down on online gambling with crypto, credit card banThe government warned betting companies that failing to comply with the new rules could result in a fine of up to 234,750 Austra
Americans Purchase $1,200 Worth of Bitcoin, While 7 Banks Fumble With Stimulus Payments
Americans Purchase $1,200 Worth of Bitcoin, While 7 Banks Fumble With Stimulus Payments For years now, bitcoiners and cryptocurrency proponents have said the antiquated banking syst
Beltracchi’s ‘Salvator Mundi’ — Notorious Art Forger Banned from Selling at Galleries Steps Into the NFT Game
Beltracchi’s ‘Salvator Mundi’ — Notorious Art Forger Banned from Selling at Galleries Steps Into the NFT Game While the world of non-fungible token (NFT) assets continues t
While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200%
While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200% Since the cryptocurrency launched ethereumpow (ETHW) has seen spot market prices decline by
EU Makes Deal on MiCA Legislation to Regulate Crypto Markets
EU Makes Deal on MiCA Legislation to Regulate Crypto Markets Representatives of key European Union (EU) institutions and member states reached an agreement on the Markets in Crypto
Bitget Integrates with TradingView For Crypto Derivatives Trading
Bitget Integrates with TradingView For Crypto Derivatives Trading press release PRESS RELEASE.VICTORIA, Seychelles— Bitget, a leading crypto derivatives exchange and copy trading
Bitcoin, Ethereum Technical Analysis: BTC, ETH Prices Fall Lower Against USD
Bitcoin, Ethereum Technical Analysis: BTC, ETH Prices Fall Lower Against USD Cryptocurrency markets were trading lower for a second consecutive session, leaving bitcoin and ethereu
US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC Chairman
US President-Elect Biden to Nominate MIT Blockchain Professor Gary Gensler as SEC Chairman The U.S. President-elect Joe Biden is set to name Gary Gensler as the
Ethereum Wallet Metamask Adds Bank-to-Crypto Transfers via Sardine
Ethereum Wallet Metamask Adds Bank-to-Crypto Transfers via Sardine According to a Consensys blog post published on October 11, the Ethereum-based wallet Metamask has added instant
PolitiFi Memecoins Soar: Trump-Themed Tokens Rally 30% Ahead Of US Elections
Este artículo también está disponible en español. Just hours away from the US presidential elections, PolitiFi tokens have seen a remarkable boost. The sector has experie