Crypto Account Manager

PRESS RELEASE. Today, it’s exciting to announce the birth of Benk , a pivotal development within the decentralized economy. Benk introduces a secure and user-friendly monetary management system, along with investment prospects in various domains, including startups, stocks, cryptocurrencies, and more. This financial solution is made accessible to a global audience, irrespective of their location. The primary objective lies in onboarding in excess of 500 million users into the decentralized economy, thereby expediting the world’s transition towards a decentralized future. In line with this overarching vision, Benk will serve as a platform for both centralized and decentralized products, fostering an inclusive ecosystem that welcomes all individuals interested in participating in the open financial system. The coined slogan, “ Move Beyond Banking ,” encapsulates the ambition to transcend the confines of traditional banking and establish a comprehensive financial ecosystem. Benk transc...

Ex-FTX chief Sam Bankman-Fried returned to the witness stand Monday, fielding a barrage of inquiries from the federal prosecutor. The interrogation spanned the better part of the day, with Bankman-Fried often struggling to recollect particular remarks he had uttered and specific instructions he allegedly issued to his quantitative trading firm, Alameda Research. FTX Founder Grapples With Prosecution’s Questions During Tuesday’s cross-examination, Sam Bankman-Fried conceded that his hedge fund, Alameda Research, was privileged to withdraw billions from FTX without facing the threat of liquidation. Matthew Russell Lee of Inner City Press disseminated Bankman-Fried’s testimony via the social media channel X. “Do you deny Alameda had some accounts with the Allow Negative flag?” prosecutor Danielle Sassoon asked Bankman-Fried. “No,” he responded. Sassoon also got the FTX founder to admit that Alameda “could withdraw billions without the risk of being liquidated.” Bankman-Fried concur...

Fifteen years ago, on a memorable Halloween night, Satoshi Nakamoto introduced the world to Bitcoin through a white paper that laid the foundation for decentralized digital currencies. Published on a cryptography mailing list, this seminal document provided a comprehensive solution to the long-standing double-spending problem without the need for a trusted third party. A 15-Year Journey Into the Heart of Bitcoin’s Revolutionary Design Today, 15 years later, we delve into the depths of Satoshi Nakamoto’s vision, exploring the revolutionary impacts of Bitcoin and how it has transformed our approach to currency, trust, and financial freedom. Nakamoto’s white paper , titled “Bitcoin: A Peer-to-Peer Electronic Cash System,” was a radical departure from conventional financial systems. It proposed a form of electronic cash that operated entirely peer-to-peer, eliminating the need for intermediaries such as banks or financial institutions. Since then, Bitcoin has spawned an entire crypto e...

PRESS RELEASE. MetaBID, the innovative auction platform set to transform the way people bid and win launches it’s first auctions on the 4th of November 2023. By combining blockchain technology, a secure and transparent environment, and exciting opportunities to win highly prized digital assets at a fraction of their market price, MetaBID is your gateway to a future of thrilling auctions and immutable digital rewards. What is MetaBID? MetaBID is an emerging blockchain-driven auction platform that’s designed for the new generation of auction enthusiasts. It takes the fundamental concept of auctions and enhances it with the power of blockchain technology, making the process more secure, transparent, and rewarding. It enables users to secure exclusive digital treasures like Bitcoin ( BTC ), Ethereum ( ETH ), Solana (SOL), Crypto Punks, Bored Ape Yacht Club NFTs, and other coveted digital assets, often at prices that challenge belief. Why MetaBID? – Transparency: Every asset and its...

Global asset management firm Alliancebernstein’s research arm expects the U.S. Securities and Exchange Commission (SEC) to approve its first spot bitcoin exchange-traded fund (ETF) in early January 2024. Noting that the regulator “has been actively responding with edits/comments on the ETF applications,” the firm’s analysts said: “The probability of an approval by the Jan. 10 due date looks highly likely.” Spot Bitcoin ETF Approval ‘Highly Likely’ in January Bernstein Research, a subsidiary of global asset management firm Alliancebernstein, expects the U.S. Securities and Exchange Commission (SEC) to approve its first spot bitcoin exchange-traded fund (ETF) in January next year. A memo from Bernstein Research sent to Thestreetcrypto reads: A bitcoin ETF in early Jan is now looking like a ‘done deal.’ The memo explains that the market was waiting to see if the SEC would “ appeal against the Grayscale verdict.” The largest crypto asset manager, Grayscale Investments, is seeking ...

U.S. Treasury Deputy Secretary Wally Adeyemo says crypto is not the vast majority of the ways terrorist groups are funded, noting that these organizations “continued to use the traditional banking system.” His statements followed media reports claiming that Hamas raised a large sum of money in cryptocurrency. Crypto Not Major Funding Source for Terrorist Groups Wally Adeyemo, United States Deputy Secretary of the Treasury, addressed the role of cryptocurrency in financing terrorist organizations during an interview on Friday with the Royal United Services Institute (RUSI)’s Centre for Financial Crime and Security Studies. Several news outlets, including the Wall Street Journal, recently reported that Hamas raised millions of dollars in crypto. However, blockchain data analytics firm Elliptic clarified that these media reports misrepresented its data, and there is actually no evidence that Hamas has received large volumes of crypto funds. Adeyemo said during Friday’s interview: ...

A recent report issued by the Bank of Spain that inquires about how Spaniards use cash for payments has revealed the low degree of confidence they have in a hypothetical digital euro. 65% of the citizens surveyed reported that they would not use the digital euro as they feel comfortable with the payment options available today. Bank of Spain Report Evidences Cash Preference A recent report of the Bank of Spain has revealed the low preference that an upcoming digital euro, the proposed European central bank digital currency (CBDC), would have compared to other payment alternatives. The report , which studied the evolution of the use of cash by Spaniards, took a representative sample of 1,606 citizens of the general population and 1,616 linked to small stores and hospitality services. Cash is still the most used form of payment for Spaniards, according to the report, with 65% of the Spanish population using cash daily. Credit and debit cards follow while payment apps and electronic p...

About 60,000 bitcoins valued at just over $2 billion were removed from trading platforms in the past 90 days. The number of bitcoins on centralized exchanges is slightly more than 2 million. A recent report from Falconx says swings in the market have been exacerbated by a persistent lack of liquidity. Crypto Exodus: Over $2 Billion in Bitcoins Pulled from Exchanges in 90 Days The count of bitcoins on centralized exchanges has plummeted to a multi-year low, with a mere 36,000 BTC exceeding the 2 million mark. This starkly contrasts the 2.513 million BTC stashed on trading platforms as of November 5, 2022. Within a span of under a year, exchanges saw a reduction of 477,000 BTC . Fast forward to July 31, 2023, and about 2.096 million bitcoins were held on these trading platforms. This implies that, at current BTC exchange rates, a hefty sum of $2 billion in bitcoins, or 60,000 BTC , has been withdrawn from these platforms. The same can be said about the number of ethereum ( ETH ...

Germans can now order a “crypto stamp” that will feature images of historical buildings rendered by artificial intelligence (AI). The stamp, to be released by Deutsche Post in November, is already available for pre-order and will come in both physical form and as a non-fungible token (NFT). Germany’s First NFT Stamp Shows an AI Interpretation of the Brandenburg Gate in Berlin Deutsche Post, part of the DHL Group and successor to the former state German mail authority Deutsche Bundespost, is preparing to issue an official crypto stamp. It will come as a physical stamp and as a blockchain-based digital version, or NFT. Both the original stamp and access information for the tokenized stamp will be included in a booklet that can be ordered since mid-October, BTC Echo reported. “The offer is very well received and exceeds our expectations,” a spokesperson told the German crypto news outlet. A total of 250,000 copies will be issued, the Deutsche Post representative said, noting that t...

Digital assets worth approximately $4.4 million were reportedly stolen from more than 80 addresses belonging to 25 users of the password management app Lastpass. Crypto theft investigator Zachxbt has urged crypto asset holders using the password manager to consider removing their keys and passphrases from the app. More Than 80 Addresses Compromised According to the online crypto theft investigator Zachxbt, approximately $4.4 million was stolen from more than 25 individuals using the password manager app Lastpass. The theft, which is said to have occurred on Oct.25, is suspected to be the work of a single threat actor. At the time of writing, more than 80 distinct addresses were compromised. An analysis of the breach published on Chainabuse suggests that the theft may be “related to a larger case that dates back to at least December 2022.” As previously reported by Bitcoin.com News, the password management app’s cloud-based storage environment was breached in August 2022 but Lastp...

Vaneck, a leading digital asset manager, has recently unveiled a study on the network Solana, providing a wide spectrum of SOL valuation scenarios for the year 2030. Authored by Patrick Bush, the senior investment analyst, of digital assets, and Matthew Sigel, the head of digital assets research, the report dives deep into Solana’s potential, presenting a balanced view from base-case to bearish to bullish prospects. Vaneck Research Report Offers Solana Valuation Scenarios for 2030 On October 27, 2023, Vaneck published a report on the Solana (SOL) network, exploring various SOL valuation scenarios for the year 2030. The document authored by Bush and Sigel aims to provide a detailed examination of Solana’s potential future, covering a range of possibilities. The Vaneck study outlines different potential futures for Solana, with predictions ranging from $9.81 to $3,211.28 per SOL by 2030. The forecast considers various market share predictions and revenue estimates across several se...

Drawing upon the latest statistics, ten nations are grappling with inflation rates surpassing 40% as of October 2023, while four countries are enduring inflation rates in excess of 100%. A look into the data curated by the International Monetary Fund’s World Economic Outlook reveals that the Venezuelan bolivar is weathering significant inflation at a rate of 360%, closely followed by the Zimbabwean dollar at a rate of 314.5%. 10 Nations Grapple With Soaring Inflation, Surpassing 40% and Shaking Economies Numerous fiat currencies have faced challenges throughout 2023, resulting in a depreciation when measured against others. In essence, this inflation translates to a diminished capacity to purchase goods and services with the same amount of money, directly linked to decreased purchasing power. Inflation significantly influences consumers, and it equally disrupts businesses, leading numerous companies to collapse. Moreover, hyperinflation is typically characterized by monthly inflat...

Economist Peter Schiff has warned that the U.S. dollar will tank, taking the U.S. economy and the American standard of living down with it. Noting that everyone who owns U.S. dollars could “get destroyed,” he cautioned: “We are getting very close to a crash in Treasuries. That means the party will finally come to an end. The truth will be laid bare as the day of reckoning arrives with a vengeance.” Peter Schiff on Treasuries Crashing, US Dollar Tanking Economist and gold bug Peter Schiff warned about the state of the U.S. economy and the collapse of the U.S. dollar again this week. “We are getting very close to a crash in Treasuries. That means the party will finally come to an end. The truth will be laid bare as the day of reckoning arrives with a vengeance,” he wrote on social media platform X Wednesday. The economist stressed: The dollar will tank, taking the U.S. economy and the American standard of living down with it. “U.S. Treasuries are now the ultimate risk asset, as l...

Mark Cuban, a Shark Tank investor and the owner of the NBA team Dallas Mavericks, has shared what he thinks crypto is really about. “Crypto is still waiting for its Instagram moment,” the billionaire said, noting that “What crypto is missing is that one application that grandma really wants to use.” Mark Cuban Shares What Crypto Needs to Go Mainstream Billionaire Mark Cuban, a Shark Tank star and the owner of the NBA team Dallas Mavericks, answered a number of questions from users on social media platform X during an episode of Wired’s “Tech Support,” broadcast on Wednesday. Some questions were about cryptocurrency and non-fungible tokens (NFTs). Replying to a question about whether he thinks crypto is dead, Cuban promptly said: “No. Hell no.” However, the billionaire added: But I do think crypto has some problems. Number one, most people, when they think crypto, they think speculation. That’s not what crypto’s really about. “Number two, crypto is really about creating new appl...

Year-to-date, the dynamic landscape of crypto data reveals a 106% surge in bitcoin ( BTC ) value against the U.S. dollar. However, it’s noteworthy that it does not clinch the title of the top performer in this period. A closer look at the metrics since the dawn of the year illuminates the impressive rise of several cryptocurrencies eclipsing the 700% mark against the greenback. Meanwhile, a selection of these digital assets has experienced a staggering loss, plummeting over 60% in value within the fiscal year’s framework. Outshining Bitcoin: The Altcoins That Soared Beyond 700% in 2023 A journey through the last 300 days since January 1, 2023, unveils the volatile performance of various digital currencies against the U.S. dollar. While bitcoin (BTC) has experienced a commendable 106% increase, other tokens like aptos (APT) and chainlink (LINK) have also basked in the glory of gains surpassing 100%. Nevertheless, it’s crucial to highlight that 26 other cryptocurrencies have outsho...

Sam Bankman-Fried took the stand in his fraud trial on Friday, October 27, 2023, and was questioned by his lawyer about the operations of FTX and its relationship with affiliated crypto trading firm Alameda Research. Sam Bankman-Fried’s Trial Testimony Day 2 On Friday, Sam Bankman-Fried stated that FTX was “primarily a margin exchange” that allowed trading similar to a mortgage, with users borrowing funds to trade larger positions. He also discussed FTX’s risk management systems, its handling of Alameda’s accounts, and his responsibilities as CEO. The courtroom testimony was broadcast on X by the legal and investigative journalist Matthew Russell Lee from the Inner City Press . Bankman-Fried testified that he started Alameda Research in 2017 to trade cryptocurrency arbitrage after previously working at Jane Street Capital. He said Alameda operated initially out of a rented Airbnb in Berkeley, California with a small staff including Gary Wang and Caroline Ellison . Bankman-Fried ...

JPMorgan announced that it is registering transactions for $1 billion daily using its own currency, jpm coin. JPMorgan Global Head of Payments Takis Georgakopoulos added that while these movements are denominated in U.S. dollars mostly, the institution is seeking to expand on that in the future. JPMorgan’s JPM Coin Sees $1 Billion in Movements Daily JPMorgan has reported that jpm coin, the cryptocurrency created by the financial giant, is being used to settle $1 billion daily. According to statements from JPMorgan’s Global Head of Payments Takis Georgakopoulos, the bank plans to expand on jpm coin’s usage in the future, widening adoption. In an recent interview with Bloomberg, Georgakopoulos stated : JPM Coin gets transacted on a daily basis mostly in US dollars, but we again intend to continue to expand that. Jpm coin allows making transactions denominated in dollars and recently in euros using the Qorum blockchain, a distributed ledger created by the bank in 2016 and sold to ...

The highly anticipated Dencun upgrade for the Ethereum blockchain won’t be making its debut in 2023 as initially expected. Ethereum’s core developers have decided to push back the upgrade’s release until at least 2024, a revelation made during the latest All Core Developers meeting. After the meeting, software developer Tim Beiko took to social media to provide an update on the expected timeline for the upgrade. Ethereum’s Dencun Upgrade: Mainnet Release Now Anticipated in 2024 The primary objective of the Dencun upgrade is to elevate Ethereum’s performance on multiple fronts, including scalability, security, and user-friendliness. One of its key features is the introduction of “data blobs,” a novel transaction type designed to optimize data storage and accessibility for layer two (L2) rollups built upon the Ethereum platform. Originally, the upgrade was planned to be divided into two distinct segments: Deneb, targeting the Consensus Layer, and Cancun, focusing on the Execution Laye...