CryptoBuzz Posts

Nic Carter slams Minneapolis Fed President for saying crypto is ‘almost never’ used outside of criminal activity 🐝 ~ ~ Venture Capitalist Nic Carter criticized Minneapolis Federal Reserve President Neel Kashkari for claiming that cryptocurrency is primarily used for illegal activities. In an Oct. 22 post, Carter argued that Kashkari’s remarks were misguided, referencing data from Chainalysis indicating that only 0.34% of crypto transactions in 2023 were linked to illicit activities. Kashkari, during a Town Hall event on Oct. 21, suggested that crypto rarely facilitates legitimate transactions, often only being used for illegal purchases. Further studies highlight that cash remains the preferred method for criminal activities, with the U.S. Treasury confirming its dominance in money laundering despite the negative perceptions of cryptocurrencies. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin(BTC) Drops Below 67,000 USDT with a 2.20% Decrease in 24 Hours Click to see more

Will Chris Larsen’s XRP Donation Impact The Ripple SEC Lawsuit? 🐝 ~ ~ Ripple co-founder Chris Larsen’s recent XRP donation to Vice President Kamala Harris has drawn criticism from the crypto market and XRP community. While Larsen advocates for a more cryptocurrency-friendly approach from Democrats, some, including pro-XRP lawyer Bill Morgan, deem his support misguided. Former Messari CEO Ryan Selkis criticized Larsen for allegedly exploiting retail investors. Additionally, legal expert MetaLawMan raised concerns about how this donation could affect the ongoing Ripple SEC lawsuit, questioning whether the SEC would need to monitor the XRP-to-fiat conversion process, thereby complicating Ripple’s legal battle with the SEC under Gary Gensler’s leadership. @CryptoBuzzPosts 🐝 ~ ~

Pump.fun launches ‘Advanced’ terminal to rival Photon, confirms token launch 🐝 ~ ~ Solana-based memecoin launch platform Pump.fun announced a new token and potential airdrop during a Twitter Spaces event, following its most successful week. The company introduced Pump Advanced, a trading terminal designed to compete with platforms like Photon and Bull X, offering mini charts and social activity features, alongside a promotional 0% fee for the first month. Co-founder Sapijiju hinted at future token plans, stating it could offer a lucrative airdrop. Since its January launch, Pump.fun has generated over $140 million in fees from creating 2.5 million Solana-based tokens, solidifying its place in the meme coin trading space. @CryptoBuzzPosts 🐝 ~ ~

How Japanese Police Tracked Fraud Ring Using Monero 🐝 ~ ~ Japanese authorities arrested 26-year-old Yuta Kobayashi for allegedly leading a crime ring that defrauded victims of ¥100 million ($663,000). The group, consisting of at least 18 members, created fake product listings on Mercari using stolen credit card information. While they primarily engaged in credit card fraud, they also attempted to launder their illicit gains through the cryptocurrency Monero. Officials have not disclosed how they tracked these Monero transactions. This case marks the first arrest linked to Monero in Japan, although specifics remain unclear. The incident highlights ongoing concerns about crypto’s use in money laundering. @CryptoBuzzPosts 🐝 ~ ~

XRP Shows Weakest Performance in Top 10, Unless This Happens, Biggest Bitcoin (BTC) Breakout of 2024 Is in, Solana (SOL) Explodes Above $165: Is $200 Next? 🐝 ~ ~ XRP has struggled within a declining range, exhibiting minimal price movement and failing to break crucial resistance at the 200 EMA, raising investor concerns about further declines. Coupled with decreasing trading volume, XRP’s future looks bleak unless it surpasses this resistance. In contrast, Bitcoin has broken through a significant resistance level at $67,000, suggesting a potential rise to $70,000 or higher, which could invigorate the market. Solana has also shown strength, recently surpassing $165 and eyeing $200, although an impending $88 million token unlock may introduce selling pressure, impacting its upward trend. @CryptoBuzzPosts 🐝 ~ ~

Stacks Activating Nakamoto Upgrade In 8 Days, Will STX Break $2? 🐝 ~ ~ Dalmas is an experienced crypto reporter specializing in NFTs, blockchain, and DeFi, contributing to NewsBTC and other prominent outlets like Forbes and CoinTelegraph. With a mechanical engineering background and over a decade in journalism, he has authored over 10,000 articles. Dalmas’s notable work includes breaking the Ripple and MoneyGram partnership story, reaching over 100,000 readers. He founded BTC-Pulse to further promote crypto news, focusing on DeFi’s potential to enhance financial inclusion in Africa, where traditional banking is often inaccessible. Passionate about technology and policies, Dalmas aims to simplify complex concepts for newcomers while enjoying nature and travel in his spare time. @CryptoBuzzPosts 🐝 ~ ~

How many Pepe coins are there? Current supply & future outlook 🐝 ~ ~ Launched in April 2023, Pepe quickly became a leading meme coin, currently ranking 30th in market capitalization. With a fixed supply of 420.69 trillion tokens, Pepe employs a deflationary model by periodically burning tokens, enhancing scarcity and potentially increasing demand. Despite not having a tangible use case, its success stems from strong social media influence and a loyal user base. Pepe has seen an impressive rise of 2600% to its all-time high, with current trading at 0.00001023. Compared to Dogecoin and Shiba Inu, Pepe’s supply dynamics appear more favorable for long-term growth. @CryptoBuzzPosts 🐝 ~ ~

Solana’s Co-Founder Questions Ethereum’s Utility Without Base L2 🐝 ~ ~ In a recent discussion, Solana co-founder Anatoly Yakovenko questioned the Ethereum ecosystem’s robustness without Base, a rapidly growing Layer 2 solution. Base has achieved record highs in Active Addresses, Transaction Count, and Total Value Locked (TVL), aided by its integration with Coinbase and the popularity of meme coins like MOG and BRETT. However, on-chain economist Lily Liu criticized the metrics for possibly misrepresenting active addresses, noting Solana has significantly more (100 million) compared to Base’s 22 million. As Base thrives, Ethereum faces challenges post-Dencun upgrade, leading to questions about its market position amid evolving blockchain dynamics. @CryptoBuzzPosts 🐝 ~ ~

Coinbase files FOIA requests targeting FDIC over crypto banking restrictions 🐝 ~ ~ On October 18, Coinbase submitted two new Freedom of Information Act (FOIA) requests aimed at the FDIC, seeking regulatory clarity for U.S. cryptocurrencies. The first request seeks clarification on a purported 15% deposit cap affecting banks servicing digital asset companies, specifically Signature Bank and others, requesting documents related to interactions since June 2022. The second request targets FOIA logs from the FDIC and OCC from January 2022 to October 2023, to assess how agencies handle information requests. Coinbase’s ongoing efforts include previous FOIA requests aimed at the SEC to understand enforcement actions and asset designation processes. @CryptoBuzzPosts 🐝 ~ ~

Solana tries to establish a pipeline of new graduates 🐝 ~ ~ At the “Solana Boston” conference, attendees enjoyed Red Sox-themed gifts and networking while discussing the evolving crypto landscape. Less ambitious than previous events, it featured prominent speakers like lawyer John Deaton. Conversations revealed a shift toward Solana-native apps aiming for broader adoption, though interest among MIT students in crypto was limited, with many more focused on AI. Organizers noted a significant student presence, yet lamented the lack of entry-level jobs in crypto. Despite challenges, Solana aims to regain the attention of Gen-Z coders. The industry seeks to integrate itself into top universities amidst competing interests. @CryptoBuzzPosts 🐝 ~ ~

Why Bittensor Price May Fall Below $200 🐝 ~ ~ Bittensor (TAO), an AI-related token, has shown a 150% increase since early September, trading at $575. Despite this uptrend within an ascending channel, buying pressure is waning, and TAO is nearing the channel’s support line at $558.80. Indicators such as the Chaikin Money Flow and declining on-balance volume suggest a potential bearish reversal if selling continues. Should TAO break below this support level, it could fall to $219.60 or as low as $163.70. Conversely, renewed buying could see it rebound toward resistance at $736, potentially reaching $1,249 if a bullish breakout occurs. @CryptoBuzzPosts 🐝 ~ ~

Stripe Inks $1.1B Deal To Buy Stablecoin Platform Bridge 🐝 ~ ~ Payments giant Stripe has acquired stablecoin platform Bridge for $1.1 billion, marking one of the largest deals in crypto history. Founded by former Coinbase employees in 2022, Bridge offers software for businesses to accept stablecoin payments. This acquisition is Stripe’s largest to date and comes after the company resumed its interest in crypto, launching new payment options including “Pay with Crypto.” Bridge recently raised $40 million in Series A funding. Details about the integration of Bridge into Stripe’s platform and other specific deal terms remain unclear, with both companies yet to make an official announcement. @CryptoBuzzPosts 🐝 ~ ~

Bitcoin Faces Resistance Below $70K Despite $20B ETF Milestone: 5 Key Things to Know This Week Click to see more

Accumulation Addresses Double Since January 2024—Report 🐝 ~ ~ Ethereum’s long-term outlook is witnessing positive momentum, with holdings in long-term addresses rising from 11.5 million to 19 million ETH, signaling increased investor confidence. The approval of spot Ethereum exchange-traded funds (ETFs) has attracted both institutional and individual investors. Increased staking, which has locked up over 34.6 million ETH, contributes to reduced market supply, potentially stabilizing and even boosting prices. Currently trading around $2,729, Ethereum’s stability and optimistic projections could see its market value reach significant heights. Overall, there is substantial optimism surrounding Ethereum’s future in the cryptocurrency landscape. @CryptoBuzzPosts 🐝 ~ ~

Binance Market Update: Top Stories 21 October 2024 Click to see more

Stripe reportedly acquires stablecoin platform Bridge in $1.1b deal 🐝 ~ ~ Stripe has acquired stablecoin platform Bridge for $1.1 billion, confirming a deal first reported by Michael Arrington. The acquisition, which has not yet been officially announced by either company, follows recent talks that indicated negotiations were nearly complete. Founded in 2022 by former Coinbase executives, Bridge aids in creating, transferring, and storing stablecoins. This move aligns with Stripe’s strategy to re-enter the crypto space by expanding into stablecoin payments, recently initiating support for Circle’s USDC. The stablecoin market is surging, with a projected market cap of $3 trillion by 2030, attracting interest from traditional financial institutions like Visa and PayPal. @CryptoBuzzPosts 🐝 ~ ~

Digital Asset Inflows Surge to $2.2 Billion Amid U.S. Election Optimism Click to see more

Here’s How High Solana Price Can Go In Uptober End? 🐝 ~ ~ Solana’s price has surged past $170 for the first time since early August, fueled by Bitcoin’s recent rise above $69,000. Currently at approximately $170.17, SOL is up 7.1% in the past 24 hours, reflecting the broader positive trend in the crypto market. Traders are actively buying SOL, indicated by positive metrics and increased funding rates, suggesting strong bullish sentiment. SOL’s potential breakout targets are $190 and $250, depending on how it performs against current resistance levels. A reversal below $160 could signal weakness, pushing prices down to $140 or $130. @CryptoBuzzPosts 🐝 ~ ~

MiCA delistings will catalyse stronger European crypto offerings 🐝 ~ ~ Since its launch in 2020, the EU’s Markets in Crypto-Assets (MiCA) regulation has transformed the European crypto landscape, positioning Europe as a leader in blockchain innovation. MiCA aims to enhance transparency, security, and sustainability within the industry, compelling stablecoin issuers to comply with strict standards regarding reserves and investor risks. Companies like Tether and Circle are adapting to these regulations, indicating a shift toward higher compliance and innovation. Drawing parallels to the GDPR, MiCA could serve as a global model for crypto regulation, enhancing investor confidence and attracting traditional businesses to the crypto sector by 2026. @CryptoBuzzPosts 🐝 ~ ~