Crypto Coin News from around the planet

Some hope for Three Arrows Capital investors, as liquidators recover this amount 
December 3, 2022 8:30 AM

Liquidators seize the largest amount from Three Arrows Capital yet Regulators accuse co-founders of being uncooperative   Liquidators for the bankrupt cryptocurrency hedge fund Three Arrows Capital recovered $35.6 million from its bank accounts in Singapore. This is the largest amount of money that has been seized since Three Arrows collapsed in July. In addition, liquidators […]

How to keep your cryptocurrency safe after the FTX collapse
December 3, 2022 8:05 AM

Sam Bankman-Fried's fraud of misappropriating users' funds have led investors to explore options that can help safeguard their investments.

Billionaire Mike Novogratz Predicts Bitcoin Will Explode by Over 2,800% – But There’s a Catch
December 3, 2022 8:04 AM

Galaxy Digital founder and CEO Mike Novogratz is predicting a meteoric ascent for Bitcoin (BTC) that could push the value of the king crypto to heights never seen before.

Reminded that he predicted Bitcoin would reach $500,000 by 2025, Novogratz says in a new Bloomberg interview that he still believes BTC could hit his massive price target, but also notes that it would take more time than he originally expected as macroeconomic conditions have changed.

“Not in five years and I’ll tell you why – the biggest change that happened and the reason Bitcoin went from $69,000 down to the $20,000s is [Federal Reserve Chairman] Jay Powell decided to find his central banking superpowers and start bashing inflation over the head with a series of rate hikes that have taken rates from 0% to 4+%.

It’s pretty much that simple. It’s why all assets, why all frothy assets, growth assets that were that were ‘inflation hedges’ went down because we are in the process of beating inflation over the head…

That’s the main reason why crypto went down.”

With Bitcoin trading at $17,041 at time of writing, a move toward Novogratz’s target suggests an upside potential of 2,834% for BTC.

According to Novogratz, crypto assets will eventually rally once the industry emerges stronger after the harm caused by the collapse of firms such as digital asset lenders BlockFi and Celsius, as well as crypto hedge fund Three Arrows Capital.

“The rest of this malarkey that we’ve had with between Three Arrows and BlockFi and Celsius and all these companies that were either poorly run or fraudulently run certainly is hurting the overall confidence in crypto.

But this too shall pass. They will be brushed off into the dust bin of history. And the industry itself is going to emerge, having learned lessons, stronger. And you’re going to see that the price take back off.”


Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sensvector/EB Adventure Photography

The post Billionaire Mike Novogratz Predicts Bitcoin Will Explode by Over 2,800% – But There’s a Catch appeared first on The Daily Hodl.

Can Cardano’s development activity play a key role in ADA’s survival
December 3, 2022 7:30 AM

Cardano outperformed other crypto currencies in development activity Its NFT floor prices grew while volume declined On 2 December, 2022, Santiment revealed that Cardano [ADA] topped the list of development activity over the last 30 days. ETH, thus, out-performed currencies like Polkadot [DOT] and Ethereum [ETH]. This spike in development suggested that there may be […]

Russia’s Sber Bank Announces Ethereum And MetaMask Integration
December 3, 2022 7:00 AM

Russian banking giant Sber, formerly Sberbank, has announced that it is integrating MetaMask and Ethereum on its proprietary blockchain. 

The move comes as the Russian administration continues to be under crippling sanctions and will see the lender move into DeFi and Web 3.0. 

Ethereum And MetaMask Integration 

Russia’s largest lender, Sber, has announced that it is integrating support for Ethereum and MetaMask on its proprietary blockchain. The announcement was made during the first international meeting of participants in the blockchain industry, which the Sber Blockchain Laboratory organized. 

Sber had officially announced new opportunities for its proprietary blockchain platform, which included compatibility with smart contracts and applications on the Ethereum Network. The move was designed to allow developers to move smart contracts and even entire projects between Sber’s blockchain and public blockchain networks such as Ethereum. 

The latest additions also bring integration with the Ethereum-compatible cryptocurrency wallet MetaMask. Users and developers can use the wallet to interact with the Ethereum blockchain. Sber’s integration with MetaMask will enable users to make operations with tokens and smart contracts on Sber’s proprietary blockchain platform. The press release stated, 

“The blockchain platform will also provide integration interaction with one of the most popular MetaMask wallets, with which users will be able to perform operations with tokens and smart contracts based on the Sber blockchain.

Alexander Nam, head of Blockchain Lab, added, 

“Sber Blockchain Lab works closely with external developers and partner companies, and I am glad that our community will be able to run DeFi applications on Sber’s infrastructure.” 

He also added that the new features would help Sber to bring in developers, corporations, and financial institutions, helping them explore how blockchain, Web 3.0, and decentralized finance can be applied in businesses.

Actively Developing Blockchain Products 

Sber has been quite active in developing blockchain-related products in the recent past. In 2021, It had applied with the Bank of Russia to launch a blockchain platform to support its stablecoin Sbercoin. The Bank of Russia approved this application, following which Sber announced its first digital currency deal in June 2022. 

Russia’s stance on crypto and digital assets has seen a considerable change over the past few years. The government had imposed a complete ban on cryptocurrency payments in 2020. However, just last month, Russia’s Ministry of Finance and the Bank of Russia threw their support behind a draft amendment tabled by lawmakers. The amendment proposed the creation of a national crypto exchange in the country. 

Russian Administration Optimistic About Web 3.0 

According to Nam, the rapid development of Web 3.0 will see platforms supporting blockchain protocols becoming increasingly in demand. The Russian lender’s announcement also comes after Russian President Vladimir Putin came out in support of blockchain technology and crypto. The Russian President criticized the monopoly prevailing in global financial systems and expressed confidence that digital currencies and technologies based on them would drive independence from global banks. 

The President also hinted at developing a new global payment system based on blockchain technology, adding that the new system would be free from “interference by other countries.” This was seen as a reference to the crippling sanctions against Russia by the West after the invasion of Ukraine. Sber was also severely impacted by the sanctions. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

EU Parliament to ‘Vote on Adopting the Regulation on MiCA’ — Expert Says Industry Needs Legal Clarity
December 3, 2022 6:30 AM

In a recent statement, the European Parliament said its members would shortly “vote on adopting the regulation on markets in crypto-assets (MiCA).” According to the parliamentary body’s think tank, the envisaged regulations are expected to provide “legal certainty for crypto-assets not covered by existing EU legislation.” A crypto counselor, Paulius Vaitkevicius, said any regulation of crypto is likely to result in more capital and talent coming into the space.

‘Harmonized Rules’ for Crypto-Assets at EU Level

After months of discussions and negotiations which culminated in the June 30 preliminary agreement, the European Parliament (EP) is now set to “vote on adopting the regulation on markets in crypto-assets (MiCA).” The vote is set to take place during the legislative body’s plenary session. European leaders assert that the adoption of MiCA will lead to the creation of “harmonized rules for crypto-assets at [the] E.U. level.”

According to a Nov. 29 briefing by the parliament’s think tank, the harmonized crypto rules are expected to provide “legal certainty for crypto-assets not covered by existing EU legislation.” In the briefing, the EP also argues that the rules will not only enhance the protection of consumers and investors but will also “promote innovation and use of crypto-assets.”

Through MICA, European authorities also hope “to regulate [the] issuance and trading of crypto-assets as well as the management of the underlying assets.”

While European leaders like European Central Bank president Christine Largade are pushing for tougher regulation — MiCA II — some critics of the proposed legislation argue that the envisaged regulations in their current form may stifle innovation.

Legal Clarity Attracts Mature Players

Commenting on the European Union’s drive to regulate cryptocurrencies, Paulius Vaitkevicius, founder and crypto counselor at the law firm VILP Solutions, said the prevailing “Wild West environment” is not helpful to all parties. He also told News that without guidelines or regulatory frameworks “and with a number of situations where industry players collapse, we might end up in a situation where we will have only a handful of investors left in the industry.”

EU Parliament to 'Vote on Adopting the Regulation on MiCA' — Expert Says Industry Needs Legal Clarity

Therefore, to stop this from happening the crypto industry needs legal clarity, which according to Vaitkevicius, “bring[s] in more mature players to the industry from both project and investor sides.” Explaining why he is in favor of regulating the industry, Vaitkevicius said:

From my personal experience, such players have been seeking regulations and clarity already for some time and waiting for the right moment to step in properly. With regulations, we will see these firm steps and as a result additional capital and talent coming to the industry space.

Meanwhile, some crypto opponents have said if appropriate regulatory frameworks were already in place, Sam Bankman-Fried’s shenanigans would have been exposed much earlier. However, when asked about the validity of this argument, Vaitkevicius said the opinion that on paper FTX itself was “one of the most regulated players in the industry” undermines this theory. He added:

“Regulation is a good step forward, but [this] needs to be followed by other elements to be functional in real-life situations and achieve the pursued goals.”

What are your thoughts on this story? Let us know what you think in the comments section below.

Sam Bankman-Fried Addresses $8 Billion Balance Sheet Deficit, The Key Takeaway
December 3, 2022 5:33 AM

The entire crypto market bled with multiple losses and asset devaluation after the collapse of Sam Bankman-Fried’s crypto exchange FTX. In addition, crypto firms exposed to FTX got a fair share of the bitter pill.

Investigations have been ongoing to determine the location of the $8 billion hole in FTX’s balance sheet, which caused the liquidity crunch.

The deficit in FTX’s balance sheet kept growing. The firm initially declared only $2 billion and later said it was $5 billion. The hole has now grown to over $8 billion.

In a recent Bloomberg interview, Sam Bankman-Fried (SBF), FTX former CEO, revealed the whereabouts of the funds. SBF said he showed investors a separate balance sheet at an emergency bailout.

According to the report, SBF listed $8.9 billion in debt, $9 billion in liquid assets, and $15.4 billion in less liquid assets. The report also mentioned $3.2 billion in illiquid assets.

Sam Bankman-Fried Reveals Conflicting Balance Sheets

He revealed another balance sheet showing the actual situation at the time of the bailout meeting. The balance sheet bears similar numbers but $8 billion less liquid assets. SBF said he misquoted the numbers.

He added that customers were transferring money to Alameda Research instead of sending it directly to FTX. According to his statement, FTX’s internal audit system double-counted the amount and credited it to both firms.

Following SBF’s statement, FTX and Alameda Research had the highest cash flow, but Binance, a rival, became the highest expense. He paid a net amount of $2.5 billion to buy out Binance’s investments. SBF also revealed that he spent $250 million on real estate and about $1.5 billion on other expenses.

Some $4 billion and $1.5 billion went into venture capital investments to acquire other firms, while they counted $1 billion by mistake.

The report also stated that SBF and the remaining employees spent the previous weekend attempting to raise funds. The funds are to fill the $8 billion hole in FTX’s balance sheet and repay customers.

Cause of FTX Collapse: Fraud Or Mismanagement?

Meanwhile, most people in the crypto space say the FTX crisis is a fraud and not an accident. On Wednesday, during his first public appearance after the collapse of FTX, Bankman-Fried insisted that he did not commit fraud. He claimed that he was unaware of the extent of damage and what was going on with FTX.

In an interview with The New York Times, SBF blamed the collapse of the $32 billion FTX exchange on poor accounting and management failures. This comment triggered civil and criminal investigations. The investigation aims to determine whether FTX committed a crime by lending customers’ funds to Alameda Research.

Sam Bankman-Fried Addresses $8 Billion Balance Sheet Deficit, The Key Takeaway
Cryptocurrency market records new gains | Source: Crypto Total Market Cap on

However, FTX’s new CEO, John Ray III, in charge of the firm’s bankruptcy proceeding, expressed disgust at the situation. In his words, Ray said he had never seen such a complete failure of corporate control, condemning SBF for unacceptable management practices.

Featured image from Texas Tribune, chart from

Decentraland: Traders could see some profits if MANA stays put at these levels
December 3, 2022 5:30 AM

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice MANA formed an ascending triangle chart pattern  A possible upside breakout target could be $0.4740 and the 38.2% Fib level ($0.5054) Decentraland [MANA], the Metaverse-based project, recorded a bullish Moving Average Convergence Divergence (MACD) crossover […]

Is the Dogecoin Spike a Harbinger of Bad News for Bitcoin?
December 3, 2022 5:26 AM

Over the past couple of weeks, Dogecoin’s (DOGE) market cap has grown from $7.93 billion to $13.2 billion, a 66.5% increment. The project’s trading volume has also surged from $216 million to $844 million, a 290% jump. Moreover, DOGE’s price has rallied by 22.6% over the last seven days. The sudden interest is attributed to Elon Musk’s announcement of a payment feature for Twitter. Being the DOGE proponent that he is, many expect the feature to include the original memecoin as an option.

However, a spike in Dogecoin (DOGE) might not be a sign of good things to come. According to crypto analysis firm Santiment, a spike in DOGE has historically been followed by a wider market selloff. As per the chart shared by the firm on Twitter, DOGE rises have been followed by Bitcoin (BTC) price retraces. The firm stated that Dogecoin pumps are a reflection of crowd euphoria.

Will BTC fall following Dogecoin’s pump?

History does tend to repeat itself. However, this time around, things could take a different turn. The current DOGE rally is riding on Musk’s Twitter 2.0 announcement. If the payment feature is implemented and DOGE is accepted as payment on Twitter, it could lead to more interest in the general crypto space. However, how Bitcoin (BTC) reacts to the development is yet to be seen.

However, if history does repeat itself, it is only a matter of time before we witness another BTC fall.

A survey found that more than 60% of DOGE’s investors maintained a profit as a result of the token’s success. It is safe to assume that a sizeable part of Dogecoin’s holders are betting on the cryptocurrency’s long-term potential given that 69% of holders have been holding onto the token for more than a year.

Ethereum Price To Reclaim $1,300 Throne – What Are The Possibilities?
December 3, 2022 5:09 AM

This week saw a positive recovery in some crypto assets, Ethereum included. It is gaining momentum and preparing for a bullish rally in the days to come. Although Ethereum is still below $1,300, some factors suggest a possible increase to $1,350 and $1,550.

The crypto market has been filled with FUD (fear, uncertainty, and doubt) in the past weeks following the FTX crisis. Crypto investors are left speculating whether to buy or sell holdings as assets plunged deeper. For example, reports show that Ethereum lost nearly 39% in a couple of weeks.

The crypto market has been anticipating news of the U.S. Federal Reserve dropping its bullish stance on interest rate hikes from December. As signals point towards this expectation becoming a reality, some assets started showing signs of recovery. However, despite the bullish trend, Bitcoin remains down due to miners’ capitulation, while Ethereum is rising.

Factors Indicating Massive Ethereum Price Surge

Coinglass’ crypto derivatives data shows that Ether futures open interest on Binance has reached an all-time high of 2.01 million. It amounts to a 9% increase in Open Interest in the last 24 hours, indicating a high probability that Ethereum will increase in the coming weeks.

On-chain data from Glassnode also revealed that the total value of the Ethereum 2.0 deposit contract hit an all-time high of 15,492,407 ETH. Ethereum validators’ revenue has also reached a 1-month high of 11.310%.

Image Source:

These records have got players and analysts reacting. For example, Michael van de Poppe believes ETH is exhibiting strength as it rose from the $1,150 level to the current price. The analyst predicts that a break above the $1,225 level would trigger a rally toward $1,350 and maybe $1,550.

Traders look forward to holding their Ether if it remains above the support level of $1,200. Analysts also believe the ETH price increase will rub off on other altcoins.

ETH Price Journey

Many traders were bullish about Ethereum’s price increase after the completion of the merger. However, Ethereum neither surpassed nor bounced back to the $1,700 level after the merge. With the macroeconomic situation, the asset continued falling and went below the $1,500 physiological.

Whale accumulations saw ETH price drop from $1,661 to $1081 in one month. Whales saw the price declines as an opportunity to accumulate ETH holdings. Whale accumulations are often indicators of an asset’s bullish recovery. However, it didn’t seem so initially for Ethereum, whose price dipped to $1,081.

Now the tables are turning, and Ethereum seems to gain bullish momentum, rising towards $1,350. Ethereum is trading at $1,283 with a 24-hour trading volume of $6,205,108,773.

Ethereum Price To Reclaim $1,300 Throne, What Are The Possibilities?
Ethereum price ready for another bull run l ETHUSDT on

With the ETH price above the critical support level of $1,225, there may be hope for more increase. The price surged nearly 2% in 24 hours and 8% in the past week.

Featured image from Pexels, chart from CoinGlass and

We Use Cookies
By continuing to use our site, you accept our use of cookies