Press Releases Daily News TheBitTimes.com

On-chain analyst Yazan reports insider selling of PEPE holdings, with around 400 billion PEPE sold, aligning with Pauly’s team exposure. Former Pepecoin (PEPE) promoter turned crypto influencer Jeremy “Pauly” Cahen has leveled insider trading allegations against the Pepecoin team following the reported theft of around 16 trillion PEPE tokens. Pauly is now exposing team members’ identities, divulging their wallet activities. On-chain analysts also point to significant Pepecoin transactions involving insiders. In an Aug. 26 update, Pauly disclosed that the Pepecoin team possesses approximately $16–17 million in PEPE tokens distributed across nine wallets. Surprisingly, the insiders refrained from selling the holdings. Instead, they strategically offloaded PEPE from a centralized exchange (CEX) wallet, establishing a substantial short position. “I’ll likely be working with multiple branches of law enforcement to ensure that @degenharambe & the rest of his partners on the @pepecoine...

Bitcoin’s open interest has surged, signaling market resilience despite a lack of consolidation above $30,000, but what does this mean for crypto investors? Bitcoin (BTC) open interest has been ascending for months, suggesting the market’s resilience even though the largest cryptocurrency by market capitalization hasn’t consolidated above the psychological level of $30,000. At the beginning of August 2023, Coinalyze data showed that the Bitcoin open interest figure returned to break above $10 billion, maintaining close to the highest level since the beginning of May 2022. The figure updated the year-to-date high on Aug. 9. Open interest is a metric that reflects the volume of unsettled futures, potentially indicating the confidence of the market to leave positions open. This is an important gauge, given that a good chunk of Bitcoin trading occurs on futures trading platforms, such as those offered by Binance, Bybit, OKX and the Chicago Mercantile Exchange (CME). Futures contracts enab...

Challenging a recent claim that tracking Bitcoin against fiat currencies is futile, this article uncovers the indispensable link between them. Understanding and interpreting the market dynamics is essential in a rapidly evolving cryptocurrency landscape.  Recently, a claim was made on LinkedIn, challenging the practice of tracking Bitcoin’s (BTC) price concerning fiat currencies like the USD.  LinkedIn post by Keir Finlow-Bates | Source: LinkedIn Keir Finlow-Bates, an advisor at Resonance Security, argues that media news reports are ineffective for measuring Bitcoin’s market highs and lows, suggesting a departure from traditional financial benchmarks. This article seeks to systematically counter the claim and explain why tracking Bitcoin with fiat currencies is logical and indispensable. Tracking Bitcoin prices in fiat currencies Finlow-Bates posits that tracking Bitcoin prices against fiat currencies using media news reports is unproductive and illogical.  This st...

The WSJ’s investigation reveals that Binance’s CEO Changpeng Zhao was aware of wash trading at the American branch launch and “directed” it. According to a report from the Wall Street Journal, in the first hour of Binance launching its American platform, BinanceUS, around $70,000 worth of Bitcoin (BTC) was exchanged. The media accessed the internal communication, where CEO Changpeng Zhao allegedly admitted the volume wasn’t all from external traders. “That was ourself, I think.”  Binance’s CEO Changpeng Zhao In addition to that, the WSJ report alleges that the global Binance exchange wash-traded about 46% of its total volume. What is wash trading This raises a larger question about actual trading volumes versus coin promoters shuffling assets, known as wash trading . Wash trading is a deceptive practice in the financial markets where an entity, typically a trader or a group of traders, artificially inflates trading volumes by repeatedly b...

Once launched, Indonesia’s national crypto exchange will be the only platform allowing crypto transactions, the local regulator said. The government of Indonesia is moving forward with its plans to launch a national cryptocurrency exchange, and expects to debut the platform in the coming weeks. Indonesia’s Commodity Futures Trading Supervisory Agency (CoFTRA), also known as Bappebti, is planning to launch the national crypto exchange in July 2023, the local news agency Tempo reported on July 14. Bappebti head Didid Noordiatmoko reportedly said all cryptocurrency transactions will be only allowed to take plac using the upcoming national exchange. “Yesterday we agreed on the stock exchange rules,” the official said, adding that the discussions involved regulation of Know Your Customer (KYC) processes. Didid also noted that trading on the exchange will be offered through an integrated application, which CoFTRA has already tested. "Yesterday we conducted system integration tests bet...

The first increase in trading volume in months was driven by market volatility following the SEC's lawsuits against Binance and Coinbase, as well as improving sentiment via BlackRock's ETF filing. The combined spot and derivatives trading volume on centralized exchanges (CEXs) climbed 14.2% in June to $2.71 trillion, according to CCData's monthly exchange report. Binance, Binance.US, and Coinbase all saw their market share decline in the past month. As per the report, the first rise in trading volume in three months was backed by BlackRock's exchange-traded fund (ETF) filing and regulators' complaints against crypto exchanges Binance and Coinbase in the United States. Binance saw a surge in withdrawals following the Securities and Exchange Commission (SEC) lawsuit on June 5. As a result, its market share dropped the most among CEXs, by 1.40% to 41.6%, while Binance.US saw a marginal share decline of 0.86% to 0.36%. Coinbase's market share declined the least a...

Following Binance’s departure from Cyprus, ByBit strengthens the island’s crypto ecosystem after acquiring an operating license. Crypto exchange Bybit revealed it has acquired a license to operate as an exchange and custody service in Cyprus. The world’s third most visited crypto exchange will begin offering trading between crypto and fiat currency pairs, and crypto-related financial services. Cyprus is the third most populous island in the Mediterranean Sea, with a population of 1.2 million people. In a press release, Ben Zhou, the co-founder and CEO of Bybit, explained the importance of expanding the group’s global presence, highlighting the role of crypto as a way of opting out of the legacy financial system: “We are excited to introduce the Crypto Ark to Cyprus.“ Cyprus is increasingly a crypto hotspot in the Mediterranean, in some parts driven by actions from the public sector. In 2022, Kyriacos Kokkinos, the deputy minister to the president for research at the time, explained t...