Get your cryptocurrency news & events at cryptogeni.us! Image used for: Base and Optimism Reach Revenue-Sharing Agreement in Boost for Ethereum Ecosystem

Base and Optimism Reach Revenue-Sharing Agreement in Boost for Ethereum Ecosystem

The Base and Optimism networks have reached a new agreement on revenue and governance sharing, enhancing both ecosystems. Under the agreement, Base will pay a percentage of its revenue or profits to the Optimism Collective, receiving a voice within Optimism’s protocol in return. This move is seen favorably by the Ethereum community, as it could attract new users to the developer ecosystem.

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Get your cryptocurrency news & events at cryptogeni.us! Image used for: Bitcoin Options Expiry: Key Factors Impacting the $26,000 Support Level

Bitcoin Options Expiry: Key Factors Impacting the $26,000 Support Level

The upcoming $1.9 billion Bitcoin (BTC) monthly options expiry on Aug. 25 is crucial for determining the sustainability of the $26,000 support level. Various macro and crypto-specific factors are expected to influence the outcome. While the recent market sell-off can be attributed to the SEC’s decision to delay Bitcoin ETFs, the U.S. Federal Reserve’s efforts to curb inflation and the strength of the U.S. dollar also play a significant role.

Bitcoin bulls must ensure that the price remains above $27,000 to prevent a potential loss of $380 million due to the expiry. On the other hand, cryptocurrency bulls face regulatory challenges, as exchanges like Binance and Coinbase are entangled in lawsuits with the SEC. Additionally, Bitstamp’s decision to halt staking services for U.S.-based clients and the ongoing classification debate of ETH as a commodity or security add to the regulatory concerns.

Despite optimistic projections, the recent correction in Bitcoin’s price caught many bullish investors off guard. The options open interest for the expiry stands at $1.9 billion, but the actual amount is likely to be lower. Depending on the price action, there are different scenarios favoring either call or put options. To level the playing field, bulls need a 6% price increase, while bears only require a modest 2% correction below $26,000.

Considering Bitcoin’s repeated drops below the $26,000 support level and the prevailing bearish momentum, it is possible that this level will be tested again after the options expiry.

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Get your cryptocurrency news & events at cryptogeni.us! Image used for: The Loss of Prime Trust: A Cautionary Tale of TerraUSD Investments

The Loss of Prime Trust: A Cautionary Tale of TerraUSD Investments

Prime Core Technologies, the parent company of crypto custodian Prime Trust, has reported a loss of approximately $8 million in client and treasury funds through investments in TerraUSD (UST). Under prior management, the firm lost $6 million in client funds and $2 million in treasury funds when the algorithmic stablecoin collapsed in May 2022. This significant loss, along with increased spending, led to the bankruptcy filing of Prime Trust. Despite the company attributing the impact to the wider crypto market downturn, it acknowledges the ripple effect caused by the crypto winter.

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Get your cryptocurrency news & events at cryptogeni.us! Image used for: Former OpenSea Product Manager Sentenced for Insider Trading on NFTs

Former OpenSea Product Manager Sentenced for Insider Trading

A federal judge has sentenced former OpenSea product manager Nathaniel Chastain to three months in prison for wire fraud and money laundering related to insider trading on the platform. Chastain, who used insider information to profit from the trading of NFTs, was convicted of wire fraud and money laundering. He purchased 45 NFTs before they were featured on the OpenSea website and then resold them. The judge sentenced Chastain to three months in prison, three months of home confinement, and three years of supervised release, along with a $50,000 fine and forfeiture of ill-gotten Ether (ETH) from the NFT trades. Chastain’s lawyers plan to appeal the decision and request bail. This case marks the first instance of NFT insider trading, with Chastain being a first-time offender. However, there are mitigating circumstances and acknowledgment of his potentially promising future.

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BTC price can reach $34K as Bitcoin faces support ‘kiss’ — QCP Capital on August 15, 2023 at 3:45 pm

 Bitcoin lacks major volatility catalysts, but a classic support bounce could spark the return of the highest BTC prices in over a year, one analysis predicts.  Bitcoin lacks major volatility catalysts, but a classic support bounce could spark the return of the highest BTC prices in over a year, one analysis predicts.  Read MoreCointelegraph.com News  

BTC price can reach $34K as Bitcoin faces support ‘kiss’ — QCP Capital on August 15, 2023 at 3:45 pm Read More »

Why is Bitcoin price stuck? on August 15, 2023 at 3:26 pm

 Bitcoin price is stuck today, but a narrowing Bollinger Bands indicator suggests that a big move is brewing.  Bitcoin price is stuck today, but a narrowing Bollinger Bands indicator suggests that a big move is brewing.  Read MoreCointelegraph.com News   Share On Facebook?Tweet This!Save!

Why is Bitcoin price stuck? on August 15, 2023 at 3:26 pm Read More »

Perfect storm for undervalued ASICs: Blockstream plans $50M raise to buy miners on August 15, 2023 at 2:00 pm

 Blockstream intends to buy and store ASIC mining hardware ahead of Bitcoin’s halving in 2024.  Blockstream intends to buy and store ASIC mining hardware ahead of Bitcoin’s halving in 2024.  Read MoreCointelegraph.com News   Share On Facebook?Tweet This!Save!

Perfect storm for undervalued ASICs: Blockstream plans $50M raise to buy miners on August 15, 2023 at 2:00 pm Read More »

What is Bitcoin? History of The Greatest Crypto!

What is Bitcoin? History of The Greatest Crypto! [Educate. Empower. Profit!]

Bitcoin was created by the mysterious Satoshi Nakamoto, and has increasingly risen in popularity such that, less than 15 years later, it is no longer a novelty and cannot be written off, or ignored as such! This story explains how Bitcoin, once worth almost nothing (10,000 Bitcoin for pizza anyone?), became that force and how it’s now shaking the foundations of institutional finance around the world!

What is Bitcoin? History of The Greatest Crypto! [Educate. Empower. Profit!] Read More »

What is cryptocurrency? Mining. Blockchains. Anonymity

What Is Cryptocurrency? The Ultimate Crypto Tutorial [Educate. Empower. Profit!]

Cryptocurrency is a fully digital, decentralized money that operates independently from central authorities (i.e., banks, government). Instead of being controlled by governments or banks, cryptocurrencies rely on peer-to-peer networks and encryption to verify transactions and generate currency units.

What Is Cryptocurrency? The Ultimate Crypto Tutorial [Educate. Empower. Profit!] Read More »

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