Author: bitcrypto.io

The former crypto exchange giant’s bankruptcy plan has been approved, clearing the way for massive refunds FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion US in assets recovered since the once-leading crypto exchange collapsed. The plan is built on a series of settlements with FTX customers and creditors, U.S. government agencies, and liquidators appointed to wind down FTX’s operations outside the U.S. The settlements allow FTX to use its assets to repay customers of its crypto exchange first, before paying potentially competing claims filed by…

Although PayPal has been active in the crypto sector since 2014, in the form of allowing individuals to conduct transactions using certain specific cryptocurrencies, the firm has recently made significant efforts to encourage crypto payments. Notably the launch of a proprietary stablecoin – PYUSD – in August 2023 was an unambiguous signal that the payment giant was making a direct play for crypto investors and users. September 2024 revealed even more positive indications for the crypto sector and crypto payments as PayPal will now allow merchant (business) customers and accounts to buy, sell, and hold crypto directly from their merchant…

Key Takeaways Russia’s central bank is taking a closer look at the country’s growing cryptocurrency market. As the industry gains traction, the bank is launching a financial market survey program, requiring major national banks to report everything related to digital assets, including transfers, acquisitions, and more. The move is part of the bank’s broader effort to understand the risks and opportunities presented by the crypto industry. Central Bank of Russia Puts Crypto Under a Microscope Nineteen of Russia’s leading banks, including MTS Bank, Raiffeisenbank, Citibank, Bank Soyuz, and UniCredit Bank, have been enlisted to participate in the financial survey. Under…

After more than a year of speculation, Donald Trump announced Monday enrollment for World Liberty Financial — his family company’s entry into the cryptocurrency world — has finally begun. And it’s a family affair, with youngest son Barron even having a role. “I promised to Make America Great Again, this time with crypto,” the former president tweeted. The enterprise aims to “help make America the crypto capital of the world! The whitelist for eligible persons is officially open — this is your chance to be part of this historic moment.” Trump placed his assets in the company he spent a…

A New Rally The crypto market surged after the U.S. Federal Reserve slashed interest rates by 50 basis points on Wednesday. Bitcoin spiked 7% on Thursday and Friday morning, surpassing $64,000. Ether followed with a 9% rise, while Solana outpaced them both, soaring 12%. There were fears that a 50 bps rate cut could lead to apprehension in the market, as it could suggest that the Fed was more worried about the state of the economy than previously thought. However, the positive reaction to the news across asset classes suggests optimism that the Fed can achieve its long-awaited soft landing…

Yeeha! Games, an industry-leading gaming platform, announced an exciting strategic partnership with Tokyo-based SOMSOC GALLERY during the Token2049 conference in Singapore. The collaboration aims to merge the worlds of Web2 and Web3, with both parties launching an exclusive co-branded “HOUSEBOY” designer toy collection, marking their official entry into the designer toy industry. On the 19th, Yeeha! Games presented HOUSEBOY at the National Gallery Singapore. As part of this collaboration, Yeeha! Games and SOMSOC GALLERY have created a mascot —「HOUSEBOY」, which will debut as a limited-edition SOFUBI ONEOFF designer toy. Sofubi, derived from an English term and simplified in Japanese, refers…

Following blockchain data analysts’ warnings about suspicious outflows from BingX, the cryptocurrency exchange confirmed the breach and offered 10% to hackers. More than $48 million was allegedly stolen. BingX confirmed that on September 20th, it detected “abnormal network access, potentially indicating a hacker attack on BingX’s hot wallet.” “We immediately implemented emergency measures, including urgent transfer of assets and a temporary suspension of withdrawals. There has been minor asset loss, but the amount is small and is currently being calculated,” the crypto platform said. However, observers noted that the outflows do not resemble “minor losses” in any way. According to…

A big purple bus adorned with “AMERICA ❤️ CRYPTO” started making its way across five swing states last week, on a mission to get out the vote ahead of the presidential election. The campaign, initially launched by Coinbase, has a shorter-term objective: Getting a crypto question asked at Tuesday night’s presidential debate. The Stand With Crypto Alliance, created last year, initiated a letter writing petition five days ago to pressure ABC News to raise a crypto question in the first — and perhaps only — presidential debate between Donald Trump and Vice President Kamala Harris. The group, which is hosting 2,500…

When Are the Next Big Telegram Game Airdrops? From ‘Hamster Kombat’ to ‘Rocky Rabbit’ and now we know Catizen’s token launch date. Many Telegram-based games have shot to popularity this year with the promise of in-game progression resulting in a share of a future crypto token airdrop. For some of those games, the time to launch a token is upon us, with dates set and gamers itching for their share of the pie. From crypto exchange-building tap-to-earn game Hamster Kombat to combat-centric clicker Rocky Rabbit and others alongside, these Telegram mini apps have made waves through the industry. But now…

Bitcoin and crypto—including top ten coins ethereum, BNB, Solana, XRP and Dogecoin—have crashed after a serious Goldman Sachs warning. The bitcoin price has dropped towards $53,000 per bitcoin, with the combined crypto market plunging under the $2 trillion level as fears swirl the U.S. dollar is on “the verge of a total collapse.” Bitcoin prices took a tumble today, falling close to 8% in less than 24 hours as markets responded to several bearish variables including lackluster jobs data. The world’s most prominent digital currency dropped to $52,530 around 5 p.m. EST, according to Coinbase data provided by TradingView. At…