CRYPTO.GAMES CELEBRATES 10 YEARS AS A TRUSTED LEADER
BITCOIN LEADS $321M CRYPTO INFLOWS FOLLOWING FED RATE REDUCTION
SPOT ETHER ETFS RECORD WEEKLY NET OUTFLOW OF $26.26 MILLION
MICROSTRATEGY BOOSTS BITCOIN HOLDINGS WITH $458M PURCHASE, UPSIZED CONVERTIBLE NOTE OFFERING TO $1B
INVESTMENT GIANT FRANKLIN TEMPLETON BUILDING ON-CHAIN FINANCIAL SERVICES FOR REGULATED SECURITIES ON SOLANA
PANCAKESWAP PLANS V4 UPDATE FOLLOWING $836B TRADING VOLUME MILESTONE
BITCOIN AT A CRITICAL JUNCTURE: IS A NEW BULL RUN AROUND THE CORNER?
CRYPTO.COM BAGS A PAYMENT SERVICE PROVIDER LICENCE IN BAHRAIN
SOLANA SEEKER PREVIEW: EVERYTHING WE KNOW ABOUT THE NEXT CRYPTO PHONE
NAVIGATING THE RATE CUT CYCLE: WHAT IT MEANS FOR BITCOIN AND THE MARKET IN 2024
SEC GREENLIGHTS NASDAQ LISTING OF OPTIONS FOR BLACKROCK’S BITCOIN ETF
PLUME NETWORK SAYS IT'S TOKENIZING OVER $1 BILLION IN REAL-WORLD ASSETS LIKE SOLAR FARMS, MEDICAID CLAIMS AND MINERAL RIGHTS
THE POWER OF 0.21 BITCOIN: WHY IT’S MORE THAN JUST A NUMBER
KAMALA HARRIS BREAKS SILENCE ON DIGITAL ASSETS VOWING TO ENCOURAGE INNOVATION AS PRESIDENT
BITGET PARTNERS WITH LA LIGA IN BID TO DRIVE CRYPTO ADOPTION
CRYPTO UTILITY REBORN: HOW AI AND GAMING WILL DRIVE THE NEXT BULL MARKET
RIPPLE CO-FOUNDER TRANSFERS 20 MILLION XRP, SPARKING SELLOFF FEARS AND WALLET HACK CONCERNS
EARLY BITCOIN MINER WALLETS AWAKEN, MOVING $15 MILLION AFTER 15 YEARS
TRAVALA INTEGRATES SOLANA FOR BOOKING FLIGHTS AND HOTELS, OFFERS SOL TRAVEL REWARDS
GERMANY SHUTS DOWN 47 CRYPTO EXCHANGES OVER MONEY LAUNDERING ACTIVITIES
EDITORS LETTER
Bitcoin’s rejection near the $65,000 resistance shows that the bears want to keep the price inside the lower half of the $54,000 to $73,777 range, but the bulls are not willing to give up easily. The latest 10x Research report pointed out that Bitcoin is ready for a rally, considering that it is entering the historically strong season from October to March.
Another bullish development for the cryptocurrency markets could be the aggressive 50 basis point rate cut by the Federal Reserve on Sept. 18. CoinShares’ latest weekly digital asset fund flows report said the rate cut could have triggered inflows of $321 million into digital asset investment products last week.
The bulls are trying to drive Bitcoin above the $65,000 overhead resistance, but the bears have held their ground.
If the bulls do not cede much ground to the bears, the likelihood of a rally above $65,000 increases. The BTC/USDT pair could surge to $70,000, where the bears are expected to mount a strong defense.
This optimistic view will be negated in the near term if the price turns down and breaks below the 20-day EMA ($60,621). The pair may slide to the 50-day SMA ($59,382) and later to $57,500.
Lastly please check out the advancement’s happening in the cryptocurrency world
Enjoy the issue
Karnav Shah Founder, CEO & Editor-in-Chief
CRYPTONAIRE WEEKLY
Cryptonaire Weekly is one of the oldest and trusted sources of Crypto News, Crypto Analysis and information on blockchain technology in the industry, created for the sole purpose to support and guide our Crypto Trading academy clients and subscribers on all the tops, research, analysis and through leadership in the space.
Cryptonaire weekly, endeavours to provide weekly articles, Crypto news and project analysis covering the entire marketplace of the blockchain space. All of us have challenges when facing the crypto market for the first time even blockchainsavvy developers, investors or entrepreneurs with the everchanging technology its hard to keep up with all the changes, opportunities and areas to be cautious of.
With the steady adoption of Bitcoin and other cryptocurrencies around the world, we wanted not only to provide all levels of crypto investors and traders a place which has truly great information, a reliable source of technical analysis, crypto news and top emerging projects in the space.
Having been publishing our weekly crypto magazine ‘Cryptonaire Weekly’ for since early 2017 we have had our fingertips at the cusp of this exciting market breaking through highs of 20k for 1 Bitcoin to the lows of $3500 in early 2021. Our Platinum Crypto Academy clients (students and mentee’s) are always looking for shortcuts to success to minimize expenses and possible loses. This is why we created our Crypto Magazine. Those who wish to invest their assets wisely, stay updated with the latest cryptocurrency news and are interested in blockchain technology will find our Weekly Crypto Magazine a valuable asset!
BITCOIN AT A CRITICAL JUNCTURE: IS A NEW BULL RUN AROUND THE CORNER?
NAVIGATING THE RATE CUT CYCLE: WHAT IT MEANS FOR BITCOIN AND THE MARKET IN 2024
THE POWER OF 0.21 BITCOIN: WHY IT’S MORE THAN JUST A NUMBER
CRYPTO UTILITY REBORN: HOW AI AND GAMING WILL DRIVE THE NEXT BULL MARKET
WEEKLY CRYPTOCURRENCY MARKET ANALYSIS
Hello, welcome to this week’s 355th edition of Cryptonaire Weekly Magazine. The global crypto market cap is $2.23 Trillion, UP 200 Billion since the last week. The total crypto market trading volume over the last 24 hours is at $68.9 Billion which makes a 14.20% increase. The DeFi volume is $3.89 Billion, 5.64% of the entire crypto market’s 24-hour trading volume. The volume of all stable coins is $62.88 Billion, which is 91.26% share of the total crypto market volume the last 24 hours. The largest gainers in the industry right now are Data Availability and Card Games cryptocurrencies.
Bitcoin’s price has increased by 8.74% from $58,325 last week to around $63,425 and Ether’s price has increased by 15.52% from $2,294 last week to $2,650
Bitcoin's market cap is $1.25 Trillion and the altcoin market cap is $980 Billion.
Bitcoin’s rejection near the $65,000 resistance shows that the bears want to keep the price inside the lower half of the $54,000 to $73,777 range, but the bulls are not willing to give up easily. The latest 10x Research report pointed out that Bitcoin is ready for a rally, considering that it is entering the historically strong season from October to March.
Another bullish development for the cryptocurrency markets could be the aggressive 50 basis point rate cut by the Federal Reserve on Sept. 18. CoinShares’ latest weekly digital asset fund flows report said the rate cut could have triggered inflows of $321 million into digital asset investment products last week.
Solana-based decentralized exchange Mango Markets could soon be fined another $500,000 to settle allegations brought by the United States Commodity Futures Trading Commission (CFTC). In a Sept. 22 proposal from Mango Markets’ legal representatives to the Mango DAO, the lawyers noted an “ongoing and nonpublic” investigation from the CFTC. They suggested fronting up half a million dollars to end it. According to the proposal and additional statements in the Mango Markets’ Discord server, the decentralized exchange (DEX) faces charges from the CFTC for allegedly failing to register as a commodities exchange, illegally offering services to customers in the US and failing to implement sufficient Know Your Customer measures.
The US Securities and Exchange Commission (SEC) has approved Nasdaq to list and trade options on BlackRock’s spot Bitcoin exchange-traded fund (ETF) product, iShares Bitcoin Trust (IBIT). Options trading enables investors to buy or sell assets at a pre-determined price, helping them speculate on price movements. So, this decision marks another step toward broadening the range of Bitcoin-linked derivatives, offering investors more tools to manage exposure to the flagship crypto asset. However, the product still requires the approval of the Options Clearing Corporation (OCC) and the Commodity Futures Trading Commission (CFTC).
Bitcoin mining companies Bitfarms and Riot Platforms have reached an agreement that settles a governance dispute that first emerged in May. According to a Sept. 23 announcement, Andrés Finkielsztain will relinquish his role on Bitfarms’ board of directors, while Amy Freedman will join the board. Under the agreement, Riot Platforms will withdraw its proposal for additional board changes. The agreement stipulated that Riot, which owns a significant stake in Bitfarms, would not take any further hostile action against the company. In other words, Riot would not attempt a takeover, propose another board shuffle or increase its ownership stake in the company.
PRESS RELEASE
Crypto.Games, one of the most established and trusted gambling platforms in the cryptocurrency space, is thrilled to celebrate its 10th anniversary. Since its inception, Crypto.Games has been a favorite among crypto enthusiasts, offering a safe and fun gaming experience.
Crypto.Games began its journey with the launch of DogecoinMachine.net, a slot machine game that accepted only Dogecoin. This marked the beginning of the platform’s expansion. Over the past ten years, Crypto.Games has continually improved and expanded its offerings. The platform now features a wide variety of games, including Dice, Blackjack, Lottery, Roulette, Video Poker, Plinko, Minesweeper, DiceV2, and Keno.
Celebrating Ten Years with Exciting Events and Rewards
To commemorate this significant milestone, Crypto. Games invites its loyal community and new users to join in a series of exciting events and promotions. The anniversary celebration will feature:
Special prizes and bonuses for participating players.
Exclusive giveaways for followers on social media.
Special vouchers for qualifying users.
Random giveaways in the chat.
Fun and interactive games at random intervals. These events are a way for Crypto.Games to thank its community and share the joy of this significant anniversary.
About Crypto.Games
Crypto.Games is an online gambling platform that allows users to play a variety of casino games using popular cryptocurrencies. Established in 2014, the company has grown to become one of the most trusted and well-respected names in the crypto gambling industry. Crypto.Games is owned and operated by MuchGaming B.V. and is authorized and regulated by the Government of Curaçao. The gaming platform adheres to the highest standards of fair play and security.
As Crypto.Games looks back on a decade of success, it remains dedicated to innovation, transparency, and customer satisfaction. With every bet, players not only enjoy the thrill of gaming but also the opportunity to win a growing jackpot.
For more information about Crypto.Games and its 10th-anniversary celebrations, please visit Crypto. Games or join their Social Media (X).
ADVANCEMENTS IN THE CRYPTOCURRENCY WORLD
BITCOIN LEADS
$321M CRYPTO INFLOWS FOLLOWING FED RATE REDUCTION
Digital asset investment products posted a second consecutive week of inflows last week, totaling $321 million, CoinShares reported.
Cryptocurrency investment products have experienced substantial inflows following the US Federal Reserve’s decision to lower interest rates, according to crypto investment firm CoinShares.
Digital asset investment products posted a second consecutive week of inflows during the week from Sept. 15 to Sept. 21, totaling $321 million. The new weekly inflows are slightly down from the previous week, which totaled $436 million in inflows.
The surge was likely driven by the Federal Open Market Committee (FOMC) decision to cut interest rates by 50 basis points (bp), CoinShares stated in its latest weekly digital asset fund flows report released on Sept. 23.
Bitcoin versus Ethereum products: $284 million in inflows and $29 million in outflows, respectively According to CoinShares, Bitcoin BTC $63,264
-based investment products were the primary focus last week, with $284 million in inflows. The report mentioned that recent BTC price changes triggered growing inflows into short-Bitcoin investment products, totaling $5.1 million.
On the other hand, Ethereum remained an “outlier,” CoinShares noted, as Ether ETH $2,645 -based investment products saw outflows for the fifth consecutive week, totaling $29 million last week.
According to CoinShares’ analysis, the repeated ETH outflows were due to persistent outflows from the Grayscale Ethereum Trust (ETHE) and insufficient inflows from the newly issued exchangetraded funds.
Additionally, CoinShares noted that Solana SOL $143 investment products continued to see small but consistent weekly inflows, amassing $3.2 million last week.
Read more...
Spot Ether ETFs record weekly net outflow of $26.26 million
Spot Ether ETFs banked a net outflow of $26.26 million for the previous week. It commenced on September 16 and ended on September 20, 2024. Grayscale led the charge, with ETHE recording $46.38 million in outflows.
On the other hand, Grayscale Mini Trust recorded $7.94 million in positives. BlackRock’s ETHA had the highest inflow of $14.32 million. Bitwise reported its figure one time. That was a negative flow of $2.1 million, with nothing to balance in later days.
The last two days of the previous week saw continuous inflows. First BlackRock established the flow of $5.2 million, and then Mini Trust took charge with an inflow of $2.9 million. The his-
With the latest acquisition, the company now holds 252,220 bitcoin worth nearly $16 billion at current prices.
The company purchased 7,420 bitcoin between September 13 and 19 for at an average price of $61,750.
to $1B
The firm upsized this week's convertible note offering to $1.01 billion principal amount from $700 million, and used the proceeds for the BTC acquisition.
Nasdaq-listed software company MicroStrategy (MSTR) said Friday that it purchased 7,420 bit-
torical cumulative flow stands at $607.6 million as of September 20, 2024, Eastern Time (ET).
BlackRock’s total inflow stands at $1.03 billion. Grayscale has a total outflow of $2.76 billion.
That said, ETH is up 2.71% to a value of $2,657.06. It also reflects a 16.14% increase in the last 7 days and a 3.56% decline in the last 30 days. The 24-hour trading volume has surged by 52.88%. Near-term Ethereum predictions expect ETH to grow by 6.26% in the last 30 days. Thereby, reaching the mark of $2,730.32. It is likely that the market will surpass this milestone significantly sooner.
Read more...
coin (BTC) for about $458.2 million using the proceeds of its debt offering. The acquisition happened between Sept. 13 and 19 at an average BTC price of approximately $61,750. The company increased its convertible note issuance that concluded Thursday to $1.01 billion from the $700 million principal offering announced earlier this week, according to a Friday filing to the U.S. Securities and Exchange Commission.
The company's bitcoin yield, a novel metric
that measures the percentage change in the company's BTC holdings relative to its assumed fully diluted shares outstanding, increased to 5.1% for this quarter, up from 4.4% on September 13, company filings show.
The company, led by Executive Chairman Michael Saylor, has been a pioneer for bitcoin adoption as a corporate treasury asset, and has become the largest corporate holder of BTC since it started buying in 2020.
Read more...
Investment Giant
Franklin Templeton
Building On-Chain Financial Services for Regulated Securities on Solana
Financial services
titan Franklin Templeton says it’s building a money fund for regulated securities on the smart contract platform Solana (SOL).
In a session during the Solana Breakpoint 2024 event, Mike Reed, Franklin Templeton’s head of digital asset partnership development, says that the investment giant’s last step to completing its project is to file to develop natively on the Solana blockchain.
According to Reed, the tokens minted by the firm on Solana would represent authentic records of ownership.
“We don’t use third parties, we mint authentically on-chain. We do not have an offchain book of records that we maintain, the
PancakeSwap plans v4 update following $836B trading volume milestone
PancakeSwap announces its v4 update to improve liquidity provision, interoperability and scalability, aiming to resolve AMM shortcomings.
Decentralized exchange PancakeSwap has reported $836 billion in cumulative trading volume and a total value
locked (TVL) of about $1.72 billion in four years of operation.
PancakeSwap held about $1.72 billion in total value locked as of Sept. 20, which has decreased over the years, from an all-time high of $7.16 billion on May 4, 2021, according to DefiLlama. On March 30, PancakeSwap’s TVL
record of ownership is the token itself. You own that token in your wallet and that’s your authentic record of ownership.”
Reed goes on to explain why the Ethereum (ETH) competitor is Franklin Templeton’s blockchain of choice.
“I’ll point out the things that we like about Solana – speed, we want to be able to move money around very, very quickly. The cost efficiencies of running this system on chain are a benefit to both us as a firm and to you as an end user.
Modern architecture, the standards used on Solana, are extremely important to us and we’re working on developing standards."
was about $2.42 billion and has been dropping since.
The exchange, which operates on an automated market maker (AMM) model, said it serves over 43 million cumulative unique addresses.
PancakeSwap v4 update to tackle automated market maker shortcomings PancakeSwap announced it will release PancakeSwap v4, a major update expected to enhance user experience and scalability. V4 aims to build on PancakeSwap’s
foundation with liquidity provision and interoperability improvements.
Speaking to Cointelegraph, Chef Kids, head of PancakeSwap, explained:
“With PancakeSwap v4, we aim to tackle major shortcomings in existing automated market makers, inflexible pricing models, limited trading features compared to centralized exchanges, impermanent loss for liquidity providers, and high on-chain gas fees.”
I’ve been closely watching the buzz around Bitcoin recently, and I can’t help but feel like we’re at a tipping point. The market has been on edge, and for good reason—Bitcoin is facing a critical moment that could either send it soaring to new highs or plunging back into correction territory. Let’s break down what’s happening and why the next few days could be pivotal for both Bitcoin and Ethereum, as we head toward what could be the beginning of the next major crypto cycle.
Bitcoin: A Make-or-Break Moment
The recent price action in Bitcoin is both exciting and nerve-wracking. The market is fixated on Bitcoin’s struggle to reclaim its 200-day simple moving average—a key indicator that typically separates bull and bear markets. If Bitcoin can trade above it consistently, we could be in for a significant rally. But if it stays below, it’s going to be a waiting game, and a potentially frustrating one at that.
I’ve noticed Bitcoin attempting to break through this resistance multiple times over the past week. For five days straight, it’s tested the 200-day moving average, and while the market reacts to every price wick up, it’s important to remember that without a daily close above this level, it’s still too early to get overly bullish. I’ve seen this happen before—traders rush in too soon, get overleveraged, and then get caught when the market pulls back.
The pressure is building, though. If Bitcoin can break through $64,900 and hold above it, the next major target could be $74,000. But if it fails, we’re likely going to see more sideways action and a lot more testing of lower levels. Right now, patience is key. This could go either way.
Ethereum: Waiting for Bitcoin’s Lead
While Bitcoin grabs most of the headlines, Ethereum is quietly positioning itself for its own breakout. I’ve been keeping a close eye on Ethereum’s charts, and there’s good news—Ethereum has reclaimed its 50-day exponential moving average. That’s a positive sign for the second-largest cryptocurrency, but it’s not out of the woods yet.
Ethereum’s future moves are closely tied to what happens with Bitcoin. Until Bitcoin makes a decisive move, Ethereum is likely to follow the broader market sentiment. Ethereum’s next hurdles are at the $2,800 to $2,900 levels, where the 100-day and 200-day moving averages sit. These levels are crucial for Ethereum to overcome if we’re going to see a significant rally.
In my experience, Bitcoin tends to set the stage, and Ethereum follows. If Bitcoin breaks its resistance, Ethereum could quickly retest those key levels and climb higher. But until then, it’s wise to stay cautious.
Are We at the Start of a New Bull Run?
As I zoom out and look at the bigger picture, I can’t help but feel like we’re at the beginning of something much larger. Analysts like Kevin Svenson are pointing to March 2025 as a potential first peak for the next major bull run, and I tend to agree. There are some strong indicators, including an RSI breakout on the weekly chart, which has historically been a bullish signal for Bitcoin.
We might be entering what’s known as the “belief phase” of the market cycle. If you’ve seen the Wall Street cheat sheet, you’ll know that market psychology often follows a predictable path— from disbelief and fear, all the way to euphoria. Right now, I think we’re sitting at the point where optimism starts to return. If that’s true, Bitcoin could be gearing up for a massive rally, potentially reaching $200,000 or higher by 2025.
That said, I’ve been through enough market cycles to know that we can’t get carried away. It’s one thing to ride the wave up, but knowing when to take profits and avoid holding too long is critical. We’ve been here before, and getting caught in the hype can lead to costly mistakes.
Ethereum’s Role in the Bigger Picture
Although Bitcoin tends to dominate the conversation, Ethereum is still a cornerstone of the crypto ecosystem. Sure, we’ve seen newer projects like Solana and Sui grab the spotlight, but I’m not discounting Ethereum’s long-term value. In fact, I believe Ethereum will continue to play a major role in the next bull cycle, especially with its strong foundation in decentralized applications.
However, for Ethereum to make serious gains, it has to break through the $2,800 to $2,900 range. If it can manage that while Bitcoin starts to rise, we could see some explosive moves. But as always, it’s all about Bitcoin’s lead. Until Bitcoin makes a clear move, Ethereum will likely stay in its shadow.
The Bigger Picture: A Crucial Moment
This feels like one of those pivotal moments in crypto where the technicals, the narratives, and the broader market all converge. Everything is pointing to a significant movement soon. Whether it’s Bitcoin breaking $64,000 and pushing higher, or Ethereum following suit, the next few weeks could define the market’s direction for the next year.
But here’s the big question: Are you ready? If you’ve been on the sidelines, this might be the time to start paying attention. While the immediate price action is important, the larger trends suggest we could be on the verge of something much bigger—a new bull run that could carry Bitcoin and the entire market to new heights.
As I wrap up, my advice is simple—stay patient, stay informed, and don’t rush into anything without confirmation. We’ve been through phases like this before, and while it’s tempting to dive in, the smart move is to wait for a clear breakout. Crypto is entering an exciting phase, and for those who are prepared, the potential rewards are substantial.
Crypto.com bags a Payment Service Provider Licence in Bahrain
Crypto.com has received full approval from the Central Bank of Bahrain to provide payment service provider (PSP) services. The approval comes through its subsidiary registered in the Kingdom of Bahrain under the commercial name “FORIS GFS BH B.S.C. CLOSED.”
Crypto.com is now operational in Bahrain According to Crypto. com’s official announcement, the PSP license will allow the crypto exchange to expand its offerings of e-money and fiat-based payment services regionally. This will also include the launch of its worldrenowned prepaid cards.
On the partnership, H.E. Noor bint Ali Alkhulaif, Minister of Sustainable Development, Chief Executive of Bahrain Economic Development Board, said, “With its
Solana Seeker Preview: Everything We Know About the Next Crypto Phone
With a lower price tag than the Saga and upgraded hardware, the Seeker smartphone aims to push Solana's mobile ambitions to new heights.
Solana Mobile’s first crypto smartphone struggled to gain adoption at first, but the subsidiary of Solana Labs is pressing forward with another Android device after a dog-themed meme coin’s sudden rise turned the Saga into an overnight hit last year.
Still, the phone caters to crypto users, packing proprietary custody solutions for digital assets and decentralized apps (dapps). Here's what you need to know.
Seeker’s release is slated for mid-2025, but with 140,000 of the handsets already preordered, according to Solana Mobile, picking up the phone might not be as easy as literally doing so.
extensive international presence and an earned reputation for regulatory compliance, we are delighted that Crypto. com has chosen the Kingdom of Bahrain as a destination for investment, which will further bolster Bahrain’s ability to deliver on its vision of developing a digitalfirst, resilient economy that celebrates innovation and progress.”
Bahrain intends to foster a streamlined investment environment prioritizing ease of doing business. Bahrain is successfully creating a world-class ecosystem to support the rapidly expanding blockchain, crypto, and fintech industries.
To that end, Eric Anziani, President and COO of Crypto.com, says, “We appreciate the work of the Kingdom and look forward to progressing."
Read more...
Solana Mobile showed off the Seeker last week at Token2049, a crypto conference in Singapore. It represented the public’s most comprehensive look at Saga’s successor since details surrounding a “cheaper,” crypto-forward smartphone were teased in January under the "Chapter 2" banner.
When it comes to Solana Mobile’s endeavors, the Solana Labs subsidiary is seeking to disrupt an industry dominated by tech names like Apple, Google, and Samsung.
The group stated that Seeker orders are limited to five phones per household, likely an attempt to limit the impact of would-be scalpers. On top of that, Solana Mobile has said in an FAQ page for the Seeker that the phone’s availability in different countries could change due to demand.
Regardless, one of the biggest differences between Saga and Seeker may be its starting price. The Saga debuted to little fanfare with a price tag of $1,000, and that price was later slashed to $599 just four months later.
Read more...
When the Fed announced its first rate cut in this new cycle, I felt that familiar excitement, that surge of adrenaline every time a major economic decision hits the markets. Bitcoin immediately shot up to $63,000, and I could sense the buzz everywhere— from Twitter to the crypto forums, everyone’s talking about this. But here’s the thing: as much as I love watching Bitcoin climb, there’s this nagging voice in the back of my mind reminding me to slow down, to breathe. Because even though the gains look tempting, I’ve learned the hard way that moves like this can be deceiving.
I’ve been down this road before—several times, in fact—and while the short-term hype is real, I know we need to look deeper. So I’m asking myself, and I’m asking you: What does this rate cut really mean for the long-term market, and are we staring down the possibility of a recession that could flip everything upside down?
The Fed’s Move: More Than Just Short-Term Gains
That rate cut wasn’t just a routine adjustment. This was a significant shift in the Federal Reserve’s approach, with Jerome Powell announcing a 50-basis-point reduction to the interest rate target. Watching the market react—Bitcoin climbing, everyone rushing in—it’s hard not to feel a surge of optimism. But here’s where the cautious side of me kicks in.
I can’t shake the feeling that this is only the beginning. The Fed hinted at more cuts—possibly another 50 basis points over the next couple of meetings—but it could be split into smaller 25-point reductions. I know from experience that this gradual approach can lull us into a false sense of security.
Yes, Bitcoin nearly hit $64,000, and that’s a big deal, but until we break through the $64,900 resistance level, I’m not convinced we’re out of the woods. That downtrend that started back in March is still looming, and it’s a reminder not to get swept up in the moment. How many times have we rushed into the market, only to watch it pull back? It’s easy to feel the excitement, but it’s even harder to stay patient.
So, let me ask you: Are you prepared to wait, or are you letting the short-term gains cloud your judgment?
Is This Recovery or the Calm Before the Storm? While I love seeing Bitcoin rally on the back of rate cuts, there’s this other side of me that can’t ignore what history has taught us. When the Fed cuts rates like this, it’s often followed by an economic slowdown. And that’s the part that keeps me up at night. If you’ve been paying attention, you know that when the Fed slashes rates by 2% or more over a 12-month period, a recession almost always follows.
Think about it—rate cuts increase liquidity, which should, in theory, boost assets like Bitcoin. But if we hit a recession within the next year, all bets could be off. The stock market, including riskier assets like Bitcoin, could face a serious correction. And let’s not forget the S&P 500—if that drops by 15%, it’s likely to drag Bitcoin down too. The markets are fragile, and that underlying fragility makes me cautious. I’ve seen what happens when everyone cheers too early.
I have to ask: Are you ready for what happens if this rally is the calm before the storm?
Bitcoin’s Key Levels: The Crossroads
I’m not going to lie—watching Bitcoin rally feels good. There’s a rush every time we get a big move like this. But I have to remind myself, and you, that this isn’t the time to get complacent. Yes, Bitcoin’s strong response to the rate cut could signal the start of a new liquidity cycle, and I can feel the optimism building for 2024. Some analysts are even predicting a new bull run driven by these rate cuts and the potential for more liquidity in the system.
But I’m not letting the excitement take over. I’ve been here before, and I’ve seen how quickly things can turn. If Bitcoin can break the $64,900 resistance, we could see it push toward $74,000. But what happens if it fails? That’s where patience comes in, and trust me, it’s tough. Waiting, especially in moments like this, goes against every instinct. But I’ve learned that waiting for confirmation beats FOMO every time.
So, before you rush into the market, ask yourself: Are you jumping in too soon, or are you willing to wait for the market to show its hand?
The Fed’s Strategy: Walking a Tightrope
The Fed is trying to balance two major concerns right now—inflation and unemployment. Inflation is hovering around 2.4%, so they’re likely to slow down the rate cuts soon. But unemployment is a different story, and it’s unpredictable. If unemployment creeps up beyond 4.4%, the Fed might have to take more drastic measures, and that’s when things could start to get tricky.
It’s hard not to feel like we’re all just waiting for the next shoe to drop. If the Fed cuts rates too fast, we might be in for a harder landing than we expect. If they go too slow, the recovery could drag on for much longer than we’d like. We’re walking a fine line here, and the slower rate of cuts, projected at 150 basis points by the end of 2025, could keep us on this tightrope for a while.
Preparing for What’s Next: Is a Recession Inevitable?
Here’s what I keep asking myself: Is this rate cut cycle setting us up for a recession? Historically, the odds aren’t in our favor. When the Fed cuts rates aggressively, a recession often follows within 12 months. The market is already pricing in a 61% chance of a recession by August 2025, and that’s a pretty sobering statistic.
What makes this even trickier is that we don’t know exactly when or how this could play out. The
recession could hit six months from now, or it could take a year. This uncertainty is what makes me cautious. It’s like standing at the edge of something big, and you don’t know which way the wind is going to blow.
But even with the risk of a recession hanging over us, I’m not entirely pessimistic. I’ve seen markets bounce back from tough times before, and there are always opportunities, even in a downturn. It’s all about positioning yourself correctly, understanding the risks, and staying ready.
So, let me leave you with this: Are you prepared for either outcome—a continued bull run, or a recession that changes the game?
How I’m Positioning for 2024
Looking ahead, I’m staying grounded. I’ve seen too many people rush into gains after rate cuts, only to get caught when the market corrects. I’m keeping a close eye on the $64,900 level for Bitcoin, and I’m preparing for both possibilities. If we break through and rally, great. But if not, I’m ready to weather the storm and adjust my strategy as needed.
Right now, it’s all about patience, planning, and being prepared for whatever comes next. Crypto is deeply tied to the broader economic landscape, and I’m making sure I understand that context before making any big moves. So, let me ask you one last question: Are you ready for whatever the market throws at us in 2024?
SEC Greenlights
Nasdaq Listing of Options for BlackRock’s Bitcoin ETF
BlackRock had been seeking approval for such a listing on the Nasdaq since March of this year following approval of multiple Bitcoin ETFs.
The U.S. Securities and Exchange Commission has approved a rule change that allows Nasdaq’s International Securities Exchange to list and trade options on the iShares Bitcoin Trust (IBIT), BlackRock’s widely-traded exchangetraded fund.
Its decision marks another step in expanding the range of derivative products linked to Bitcoin, providing investors with additional tools for managing exposure to the world’s largest crypto.
BlackRock had been seeking approval for such a listing since at
Plume Network says it's tokenizing over $1 billion in real-world assets like solar farms, Medicaid claims and mineral rights
Plume Network plans to have about $1.25 billion of real-world assets tokenized by the fourth quarter.
Token holders will be able to earn a yield on different assets includ-
ing mineral rights, solar farms and Medicaid claims, the company said.
Plume Network has announced plans to tokenize about $1.25 billion worth of real-world assets, and in the pro-
least March of this year following the regulator's approval for multiple Bitcoin-linked ETFs in the U.S.
The SEC’s approval follows several amendments submitted by Nasdaq ISE, which sought to address concerns over market manipulation and excessive risk-taking in the fledgling crypto options market.
It follows several requests to amend rule changes to allow for the listing of options tied to Bitcoin and Ethereum ETFs in the U.S., which have faced resistance over market stability concerns.
A key amendment sets position and exercise limits for options on IBIT at 25,000 contracts—described by the exchange as "extremely conservative".
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cess, offer holders a chance to earn yield, the company said in a statement.
The goal is to tokenize assets including "solar farms, private credit, Medicaid-backed invoices, [and] mineral rights" in order to make them accessible to investors by the fourth quarter, said a Plume Network spokesperson. Plume Network aspires to "eventually" have $3 billion in assets
tokenized, the person added.
"What makes Plume stand out is its proprietary access to highyield, privately held assets, such as private credit, Medicaid receivables, and renewable energy, that are being tokenized exclusively on our platform,” said Plume Network cofounder and CEO Chris Yin in a statement. “These assets, traditionally out of reach for most investors."
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I’ve been thinking a lot about influence lately—especially when it comes to Bitcoin. It’s not just a digital currency; it’s a way to reshape your future, and maybe even the world around you. And lately, I’ve been hearing more and more about the magic number: 0.21 Bitcoin. It’s being talked about like it’s the new goal for Bitcoin enthusiasts, and I want to dive into why this specific amount is being viewed as so significant.
We’ve all heard it before—”Bitcoin is digital gold,” “Bitcoin will preserve your purchasing power.” But the deeper I dig, the more I realize that Bitcoin is so much more than just a store of value. It’s the future of money, plain and simple. And I believe having a stake in this future, even a small one like 0.21 Bitcoin, can change your financial trajectory.
But why 0.21? Well, with the current price of Bitcoin, 0.21 translates to about $12,000 USD. And while that might not seem like a life-changing amount of money in today’s world, it has the potential to be incredibly significant in the future. In fact, owning 0.21 Bitcoin puts you in the top 1.25% of potential Bitcoin holders, since only 100 million people can ever hold that amount. And that number? It’s out of the 8 billion people in the world. That’s a powerful position to be in.
So, let me ask you: What does influence mean to you? Can owning a slice of this finite resource shape your future?
Bitcoin as More Than Just Digital Gold
When I first started learning about Bitcoin years ago, I was drawn in by the idea of it being “digital gold.” But now, I think that analogy doesn’t quite do it justice anymore. Bitcoin isn’t just a hedge against inflation or a place to park wealth when markets are volatile—it’s a fundamentally better form of money. And I’m convinced that its open, transparent monetary policy makes it better than the fiat currencies we’ve been using for centuries.
I think back to the early days, when I was running Bitcoin meetups. Back then, explaining Bitcoin was like introducing a new language. Today, things have changed. The infrastructure is there, and Bitcoin’s adoption has reached the point where it’s easy for people to jump in and start using it right away. It’s a far cry from the days when people needed multiple meetups just to understand the basics.
And that’s why I believe Bitcoin is about more than just digital gold. It’s about participation in a new kind of economy—one where everyone can have a stake, without being insiders or needing special access.
Do you feel like Bitcoin has moved beyond just being “digital gold”? Is it already becoming the better, smarter form of money for you?
The Importance of 0.21 Bitcoin
Let’s talk about the 0.21 Bitcoin target again. Why does this number matter so much to me? Because when I think about wealth and influence in today’s world, having $12,000 in fiat currency just doesn’t carry the same weight as holding 0.21 Bitcoin. In the global context, $122,000—the equivalent in fiat of owning 1 Bitcoin—isn’t enough to significantly change the world. But 0.21 Bitcoin, in the context of Bitcoin’s 21 million coin limit, holds real influence.
Owning 0.21 Bitcoin places you in the top 1.25% of all potential Bitcoin holders globally. It’s not just about the money, it’s about the scarcity, the opportunity, and the future potential. In today’s fiat terms, $12,000 might not seem like enough to put a dent in anything—but in Bitcoin terms, you’re in a league of your own.
Have you ever thought about what owning even a small portion of Bitcoin could mean for your influence in the future?
A Step-by-Step Approach to Stacking
If the idea of owning 0.21 Bitcoin feels overwhelming, trust me, I get it. Even $12,000 can feel out of reach for many people. But here’s the thing—just like any long-term financial goal, you don’t have to do it all at once. Start with 0.01 Bitcoin. That’s around $570 at today’s prices. It’s manageable, and it’s a stepping stone.
I’ve been telling people to think of it as a marathon, not a sprint. Maybe you can buy 0.01 Bitcoin once a month or every other paycheck. Every little bit gets you closer to that goal. And don’t forget to involve your family in your plan—get them on board with Bitcoin stacking. It’s not just about securing your future; it’s about securing theirs too.
So, let me ask: Are you taking small steps toward your Bitcoin goals, and are you encouraging those you care about to do the same?
Why 0.21 Bitcoin Could Make You a Future Bitcoin King
I truly believe that owning 0.21 Bitcoin now could put you in a position of wealth and influence in the future. If Bitcoin continues on its trajectory, this small amount could turn you into what I like to call
a Bitcoin King—a future wealthy individual in the Bitcoin ecosystem. This isn’t just hype. Being in the top 1% of Bitcoin holders is a realistic goal for many people, and I believe it’s one worth pursuing.
We’ve seen how wealthy individuals have influenced the world in the fiat system—helping their communities, supporting causes, making a difference. I believe Bitcoin holders, especially those in that top 1%, could be the next generation of influencers. Not because they’re chasing wealth for wealth’s sake, but because they saw the future of money early and positioned themselves accordingly.
Do you see yourself as part of the future elite in a Bitcoin-driven world?
Final Thoughts: Building Wealth in Bitcoin
I’ve spent years learning, stacking, and watching Bitcoin’s development. And as I look ahead, I see Bitcoin becoming what real estate has been for generations of wealthy individuals in America: a tried-and-true way to build and preserve wealth. But unlike real estate, Bitcoin doesn’t require a huge upfront investment or the same kinds of barriers. It’s accessible, and more importantly, it’s finite.
The beauty of Bitcoin is that it rewards patience and foresight. If you can see where fiat money is headed, if you can recognize Bitcoin’s potential, then this is your chance to be part of something bigger.
So, as I wrap up, I’ll leave you with this: Are you ready to secure your slice of the future, and are you doing enough today to make sure you’ll be there when Bitcoin’s influence reshapes the world?
Harris eyes regulatory clarity for crypto and AI sectors if elected president.
Kamala Harris, current US Vice President and Democratic presidential candidate, has promised to support the digital asset and artificial intelligence (AI) sectors if she wins the upcoming November elections, according to Bloomberg.
At a recent fundraiser in New York City, Harris shared her economic vision with donors. She committed to fostering technological innovation by collaborating with small businesses, labor groups, and large companies to advance AI and digital assets.
She reportedly said:
“To build that opportunity economy, I will bring together labor,
Bitget Partners With La Liga in Bid to Drive Crypto Adoption
small business, founders and innovators and major companies. We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting consumers and investors.”
Harris also promised to establish regulatory clarity for these rapidly
The deal allows Bitget to tap into the popularity of Spanish football in Asia and Latin America, where crypto adoption is also ramping up.
Global crypto exchange Bitget has announced a multimillion dollar partnership with iconic Spanish football league La Liga.
The company revealed the collaboration, which makes it La Liga’s official crypto partner, at the just concluded Token 2049 event in Singapore.
Strategic Partnership with Global Reach
In a statement released by Bitget on September 19, the Seychellesbased crypto exchange said the union is part of its attempts to gain a bigger foothold in Asia and Latin America,
evolving sectors. “We will create a safe business environment with clear and consistent rules,” she added.
This marked Harris’ first public comment on digital assets since becoming the Democratic nominee.
Previously, her silence on the topic had raised concerns among some in the industry.
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where football is hugely popular.
La Liga is home to some of the most successful football teams in the world, including Real Madrid and Barcelona, which boast hundreds of millions of fans worldwide. Games between the two, popularly known as “El Clasico,” are reportedly watched by upwards of 650 million people in over 180 countries.
The league also features some of the biggest stars in football, including Kylian Mbappé, Vinícius Jr., and Robert Lewandowski. With nearly 27 million followers between them on X alone, Bitget expects that its indirect association with such players gives it a massive platform to grow crypto adoption.
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The energy in the crypto space right now is electric, and I can feel it—something big is brewing. You know that tension in the air right before a storm? That’s where we are. I’ve been shouting for months that a massive bull run is on the horizon, and if you’ve been paying attention, you know this isn’t just hype. We’re perfectly positioned for a breakout, and if you’re asking, “Am I too late?”—you’re not. The doors are still open, but they won’t be for long.
Crypto’s about to explode, and what’s different this time is the narrative around AI, gaming, and crypto utility. It’s coming back, and stronger than ever. The coins that are still down right now? They won’t stay that way for much longer. AI and gaming are about to take centre stage, and if you’re here now, you’re still on time. I’m talking 20x, 30x returns—this is no exaggeration.
So, let me ask you: Are you seeing the same signs I am, or are you going to let this opportunity slip through your fingers?
The Bull Run Will Be Bigger Than You Think
Here’s the reality: I’ve been around for multiple cycles, and what I’m seeing right now feels different. We’re on the edge of what could be the biggest bull run yet, and it’s not just Bitcoin this time. The broader narrative is shifting back towards real
crypto utility, with AI, gaming, and DeFi leading the charge.
The 2024-2025 bull run won’t look like the previous ones. It’s not just about Bitcoin or even Ethereum leading the charge. This time, we’re seeing a more diverse market, with cutting-edge innovations in AI and gaming reshaping how we think about crypto. It’s not just about holding coins anymore—it’s about owning a piece of an evolving ecosystem.
Take Solana and Avalanche, for instance. These platforms are becoming the backbone for decentralized gaming applications, where players can truly own their in-game assets. Meanwhile, AI projects like AOS and Echelon Prime are pushing the boundaries of how decentralized networks operate, leveraging the power of machine learning to optimize everything from smart contracts to DeFi protocols.
The potential for growth is staggering. I’ve been in this space long enough to know that these opportunities don’t come around often. We’re standing at the intersection of two of the most transformative industries of our time—AI and gaming—and their convergence is going to fuel the next wave of crypto adoption.
You might think you have time to wait until everything “looks bullish,” but that’s the mistake
so many people make. By the time the market looks obviously bullish, the best opportunities have passed. You don’t want to be the one watching from the sidelines, wishing you got in earlier.
The crypto market is setting up perfectly— institutions are quietly buying in, countries are considering Bitcoin adoption, and sectors like AI and gaming are gearing up to be major players. Meanwhile, the mainstream hasn’t even caught wind of this yet. The search interest for crypto is low, the hype is quiet. And that’s exactly why I’m telling you now—this is the time.
Are you ready to act before the crowd wakes up, or will you be scrambling to get in when it’s too late?
AI, Gaming, and the Return of Crypto Utility
I’m seeing a major resurgence in crypto utility that we haven’t seen in a while. AI and gaming are becoming massive parts of the crypto ecosystem, and they’re not just buzzwords anymore—they’re where real innovation is happening.
AI in crypto is going to reshape how decentralized networks operate. We’re talking about AI-driven smart contracts, automated DeFi protocols, and AI-powered analytics that can revolutionize trading. These aren’t future concepts—they’re happening now, and projects tied to AI are already seeing serious interest from forward-thinking investors.
Then there’s gaming Blockchain gaming is finally moving beyond speculation and into real-world application. We’ve been waiting for years to see a true marriage of gaming and crypto, and I believe it’s coming in this next cycle. The demand for decentralized ownership of in-game assets, NFTs, and fully integrated economies is about to take off. If you’re looking at crypto gaming right now, you’re ahead of the curve.
So here’s the question: Are you positioning yourself in AI and gaming projects now, or are you going to chase them after they’ve already blown up?
Gaming and AI: The Future of Crypto is Here
I’m betting big on gaming and AI. Crypto has always been about more than just holding coins—it’s about building systems that are going to change how we live, work, and play. That’s where gaming and AI come in.
Gaming is about to be one of the biggest drivers of mainstream crypto adoption. Think about it— millions of gamers around the world are going to be introduced to crypto not because they’re looking to invest, but because they want to play. They’ll buy NFTs, own digital assets, and be part of decentralized in-game economies. This is where things get real.
And then there’s AI. We’re entering an age where AI-powered systems are going to do everything from making your trades to running entire DeFi protocols. If you’re paying attention, you know that AI is already making waves in crypto, and it’s only getting bigger. Imagine AI systems that learn from the market and execute trades without human input—this is the future.
So, let me ask you: Do you see the future of crypto beyond just trading coins, and are you ready to stake your claim in AI and gaming projects before the rest of the world catches on?
Key AI and Gaming Projects to Watch in the Next Bull Run
As we approach the next big crypto bull run, these AI and gaming projects are positioned to play a major role in driving innovation and adoption in the space:
Akash Network (AKT)
Akash Network is a decentralized cloud computing marketplace, offering a way for users to buy and sell computing power in a decentralized manner. The speaker emphasized that Akash is a critical infrastructure project that ties closely to the AI space by providing decentralized cloud services. As demand for AI-powered applications grows, the need for decentralized cloud computing solutions like Akash Network will rise, making this project one to watch closely.. https://www.youtube.com/ watch?v=4nRz_dVhE28
PAAL AI
PAAL AI is another project that was mentioned as a rising star in the AI space. The speaker highlighted PAAL as one of the up-and-coming AI tokens that could see massive gains during the next bull run. This project focuses on integrating AI services with blockchain technology, and as the AI narrative continues to gain traction, PAAL AI could ride the wave of interest in decentralized AI solutions.
0x0.ai
0x0.ai is another AI-related project that aims to decentralize AI services. It is building infrastructure to support decentralized AI models, allowing users to access and run AI systems in a decentralized manner. The project is highlighted as having major potential to capitalize on the growing hype around AI, with the speaker emphasizing that AI-driven blockchain projects will play a crucial role in the future of both crypto and artificial intelligence.
ATOR Protocol
ATOR Protocol is a privacy-focused project that provides decentralized VPN services and secure communication protocols. It’s mentioned as a tool
for maintaining privacy and security in decentralized ecosystems, which is becoming increasingly important as the crypto space continues to expand. ATOR ties into the AI and broader blockchain infrastructure by ensuring that the next generation of applications—whether AI-driven or not—can operate in a secure, decentralized manner.
Final Thoughts: Don’t Wait for the Perfect Moment
Look, the perfect moment to jump into the market doesn’t exist. If you’re waiting for everything to line up perfectly, you’re going to miss out. The truth is, the opportunities are sitting right in front of you, but they’re not going to stay there forever.
This bull run isn’t just about Bitcoin—it’s about AI, gaming, and the return of real crypto utility. We’re seeing the beginning of something much bigger than what we’ve seen in the past. And the coins that are going to ride this wave? They’re still down, but they won’t stay that way for long.
So here’s my last question: Are you going to wait for the perfect moment and miss out, or are you ready to act now, before this bull run takes off and changes the game for good?
Transfers 20 Million XRP, Sparking Selloff Fears
And Wallet Hack Concerns
An XRP wallet which likely belongs to Chris Larsen, one of the largest holders of XRP, has made another notable transaction in what looks like a preparation for a selloff. The transaction, which took place within the last 48 hours, triggered a series of subsequent transfers in the past 24 hours, ultimately connecting with the crypto exchange Binance.
Notably, the transaction in question involved the movement of 20 million XRP tokens from a wallet linked to Chris Larsen into a private wallet linked with selloffs to Binance.
Examining The Series Of Transactions
For context, one of the wallets belonging to Larsen, co-founder of
Early Bitcoin miner wallets awaken, moving $15 million after 15 years
Crypto community members are speculating about who owns these wallets that just sprung to life.
Dormant Bitcoin miner wallets have resurfaced after roughly 15 years of inactivity to move 250 BTC, valued at over $15 million at current prices.
On Sept. 20, Lookonchain reported that five miner wallets, each of which received 50 Bitcoin as block rewards in 2009, were moving funds for the the first time in more than a decade.
which was only worth a few cents at the time.
Who owns these wallets? The movement of funds from old wallets, particularly from the Satoshi era, always stirs curiosity in the crypto community. The term “Satoshi era” refers to the period when Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was still active, communicating online through forums between late 2009 and 2011.
payments technology company Ripple, transferred 50 million XRP into wallet “raorBm” on September 16, triggering reactions from XRP enthusiasts. This reaction was actually warranted, considering the address in question had not witnessed any substantial outflow since its creation.
Despite the sizable nature of the transaction, it is important to note that the 50 million XRP moved into “raorBm” represented only a small portion of the wallet’s overall holdings. The address itself is considered one of the largest individual wallets in the XRP ecosystem, with a balance of approximately 450 million XRP at the time of writing.
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On-chain data showed that the wallets received these mining rewards in early 2009 — a period that Bitcoin enthusiasts often refer to as the Satoshi era.
With Bitcoin presently trading at more than $63,000, the miners have held for an astounding gain of more than 1,000,000% in the value of the top digital asset,
Nakamoto mined the first block in January 2009. So, considering these wallets received their rewards shortly after Bitcoin’s launch, they likely belonged to individuals involved in its early days.
Some community members speculated that these early wallets could be connected to Nakamoto. However, since all five wallets moved funds on the same day, after more than a decade of silence.
Travala Integrates Solana for Booking Flights and Hotels, Offers SOL Travel Rewards
Crypto travel booking platform Travala has integrated with Solana, allowing users to book flights and hotels using Solana-based tokens and earn SOL travel rewards. Highlighting Solana’s scalability and affordability, the platform aims to enhance the crypto travel experience and incentivize users with up to 10% of booking value back in SOL.
Travala Integrates Solana for Crypto Travel and SOL Rewards Crypto travel booking platform Travala announced on social media platform X Saturday that it had integrated the cryptocurrency solana and would offer SOL travel rewards. The news was also shared by Travala CEO Juan Otero during a panel at the Solana Breakpoint conference in Singapore.
Germany Shuts Down 47 Crypto Exchanges Over Money Laundering Activities
Authorities have obtained servers containing IP addresses of the criminals and are on the hunt for them.
The integration allows users to book flights, hotels, and accommodations using Solana-based assets. In an X post, Travala highlighted the new integration, stating:
Book 3M+ travel products with SOL, USDT & USDC on Solana via Travala now. SOL travel rewards coming soon.
Otero explained that Solana’s scalability and affordability make it ideal for advancing Travala’s offerings, adding: “The technologies that can be harnessed on the Solana network open significant avenues to build the next phase of travel.”
Users can earn up to 10% of their booking value back in SOL, alongside BTC and AVA rewards. The AVA token is also being deployed on Solana, in addition to its existing availability on Ethereum and BNB Chain.
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German authorities have shut down 47 cryptocurrency exchanges operating in the country for allegedly facilitating large-scale money laundering operations for cybercriminals.
According to an official statement by the Frankfurt main prosecutor’s office, the German office for combating Internet crime, and the federal criminal police office, these exchanges deliberately allowed their users to bypass Know You Customer (KYC) policies.
The KYC policy is a verification process that requires platform users to submit their basic identification details. However, since these
exchanges allowed users to complete transactions without this verification, they created a conducive environment for cyber criminals to launder the proceeds of their illegal activities with little to no risk of being prosecuted.
Some of the seized exchanges include Xchange.cash, 60cek. org, Banksman.com, and Prostocash.com. The police stated that the top users of these exchanges include ransomware groups, darknet traders, and botnet operators.
The Hunt Begins Authorities revealed that they have seized the servers of these 47 exchanges and are currently hunting down their criminal users using the transaction details and IP addresses obtained from the servers.
