Coinbase Stock Soars 24% After Fed Rate Hike, Judge Dismisses Lawsuit

  • Coinbase Stock Surges 24%: Coinbase (COIN) shares surged by more than 24% following the Federal Reserve’s interest rate hike and the dismissal of a class-action lawsuit against the crypto exchange.
  • Bullish on Crypto: The majority of Coinbase income comes from trading volume, and its stock value is closely connected to Bitcoin (BTC). BTC has been rising so far this year and has climbed since the Fed announced an interest rate hike.
  • Altcoin King Ethereum (ETH): Ethereum (ETH), the altcoin king, rose from $1,500 to $1,700 price level according to CoinGecko data.

Coinbase Stock Surges 24% Following Fed Interest Rate Hike

U.S based cryptocurrency exchange Coinbase (COIN) shares soared by more than 24%, despite the Federal Reserve’s most recent hike in interest rates and statements from Fed Chair Jerome Powell about the Fed’s efforts in battling the high rate of inflation. Further, on Wednesday, a U.S. judge dismissed the lawsuit filed by its clients that alleged the cryptocurrency exchange was selling unregistered securities and had not registered as a broker-dealer. This could have been another factor for Coinbase’s price boost.

Bullish on Crypto

At the start of 2023, global cryptocurrency market began to recover from collapse of crypto exchange FTX. Also, Coinbase stock surged by more than 123% this year and 46% within a week with stock prices reaching up to $81 according to Tradingview. The majority of Coinbase income comes from trading volumes which are closely connected to Bitcoin (BTC). On one hand BTC has been rising steadily this year while on other it has climbed even further after Federal Reserve announced interest rate hike by 25 basis points taking it from around $23000 to approximately $24000 price range as per CoinGecko data.

Altcoin King Ethereum (ETH)

Ethereum (ETH), often referred as altcoin king, also rose significantly this past month climbing from around $1500 mark up till approximately $1700 level according to CoinGecko data with 36% increase over past month and 7% within last two weeks alone providing further support for optimistic sentiments about cryptocurrencies in general despite higher volatility levels associated with them due to uncertainty surrounding regulations imposed on them thus making them riskier investments compared with traditional ones like stocks or bonds.

Class Action Lawsuit Dismissed

The U.S judge dismissed class action lawsuit filed against Coinbase alleging that crypto exchange was selling unregistered securities without proper registration as broker dealer which could have contributed towards bullish sentiment among investors that saw potential in cryptocurrencies despite their risks associated with them due to lack of regulatory framework governing their operations in most countries including U.S itself where they are mostly unregulated at present time adding further uncertainty regarding their future prospects especially if SEC decides to intervene with some form of regulatory framework limiting activities related with cryptocurrencies both for consumers and businesses involved in industry itself .

Conclusion

Despite higher volatility levels associated with cryptocurrencies due lack of regulations governing them there is still bullish sentiment among investors who see long term potential behind these digital assets that could potentially revolutionize financial industry replacing traditional banking system as we know it today making payments faster cheaper easier while offering more security features unavailable before such innovative technology come into play giving rise new era blockchain technology where anything is possible provided right incentives given out properly incentivizing users joining network thus increasing overall adoption rates worldwide leading towards mainstream acceptance eventually seeing whole world being powered through decentralized applications running atop blockchain protocol making lives better for people all over planet without need for middleman thus creating fairer society where everyone can benefit regardless geographical location income status or any other factors usually taken into consideration when dealing traditional banking system .

Altcoin Market Trend Change: Crypto Trader Finds New Pattern

• A seasoned crypto trader recently identified an emerging trend in the altcoin market.
• This new pattern observed by Pentoshi is different from what was seen before, with the market moving quickly without significant pullbacks.
• Unfortunately, this fast-moving market meant that traders could miss out on opportunities if they don’t act quickly enough.

Altcoin Market Change Identified by Crypto Traders

A savvy crypto trader has identified a new trend in the altcoin market which could provide investors willing to take a calculated risk with an opportunity for growth and profit. The seasoned trader, Pentoshi, noticed that the market has been moving more quickly than it had been previously and without significant pullbacks as observed in previous months.

Opportunities Missed Due to Quickly Moving Market

Pentoshi lamented about trading opportunities he missed due to this change in the altcoin market as he had identified entries but it was too late when he finally prepared his trades. He stated that a few months ago these opportunities would have been filled within 24-48 hours whereas now they were gone before he got his chance to act on them.

Disadvantages of Stop and Limit Orders

Many traders use preset stop and limit orders to take advantage of trading opportunities even when they are not physically active but there are some disadvantages associated with using such orders. These orders can take away a trader’s ability to react quickly and spontaneously to sudden changes in the market as well as potentially leading to slippage if not managed properly.

Implications of Altcoin Market Change

The emergence of this new trend in the altcoin markets could have significant implications for those looking to capitalize on volatile markets. It is essential for traders to be able monitor their investments closely and adjust their strategies accordingly given this rapidly changing landscape.

Conclusion

Crypto trader Pentoshi has identified a shift in the altcoin markets that could open up new opportunities for investors willing to take risks while also presenting some challenges for those who rely heavily on pre-set stop and limit orders when trading cryptos. As such, it is important for traders to stay vigilant so they can make informed decisions about how best to navigate this evolving marketplace

Team Belgium Wins Top Prize for Image Privacy-Protecting App

• NTT Research announced that a team from NTT Global in Belgium won first place in its hackathon on attribute-based encryption (ABE).
• The winning demonstration was an application for ABE that could protect images containing private or sensitive information.
• A panel of judges from NTT DATA, NTT Research and the NTT Service Innovation Laboratory evaluated the competing teams’ demos.

NTT Research Hackathon

NTT Research, Inc., a division of NTT (TYO:9432), recently held a hackathon on attribute-based encryption (ABE) at the NTT Research offices in Sunnyvale, Calif. Five teams from around the world participated and submitted their demonstrations for evaluation by a panel of judges from NTT DATA, NTT Research and the NTT Service Innovation Laboratory.

Winning Demonstration

The winning demonstration was created by Senior Software Engineer Pascal Mathis and Data Scientist Jean-Philippe Cabay, both of NTT in Belgium. Titled “Confidentiality in Images,” this groundbreaking application for ABE allows for sharing data based on policies and attributes of users while protecting images containing private or sensitive information such as building logos, faces and license plates. Honorable mention went to demos created by teams from Italy and Romania.

Functionality

The demo involves three parts: 1) detecting and labeling objects; 2) encrypting images with mapped labels to ABE policies; 3) storing objects, metadata and blurred images in a database. This creates an extract, transfer load (ETL) pipeline which can ensure fine-grained control over who has access to specific information contained within images.

NTT R&D Forum Presentation Video

The Belgian team delivered a presentation video on their application during the virtual business conference – the NTT R&D Forum – which took place Nov 16-18th. The other competing teams also presented videos showcasing their work during this event.

Conclusion

Overall, this hackathon showcased impressive applications of ABE that can help balance privacy and security when it comes to shared data contained within images online.

Prepare to Profit: dYdX (DYDX) Price Prediction 2023

• dYdX (DYDX) is a decentralized exchange platform for cryptocurrency margin trading for assets like BTC, ETH, SOL, DOT, and some more crypto assets.
• The current market status of dYdX (DYDX) is a 24-hour trading volume of $183,616,964 and a 24-hour price change of 6.7%.
• In dYdX (DYDX) price prediction 2023, the bullish prediction is $1.633 to $5.430, and the bearish market price prediction for 2023 is $1.015.

dYdX (DYDX) is a decentralized exchange platform for cryptocurrency margin trading for assets like BTC, ETH, SOL, DOT, and some more crypto assets. The platform has been gaining a lot of interest due to its ability to provide a clear alternative to perpetual exchange BitMex, FTX, and Bitfinex. dYdX is a brilliantly executed decentralized crypto derivatives exchange with a plethora of margin trading and perpetual options for investors.

dYdX (DYDX) holds the 120th position on CoinGecko right now. Its current market status is a 24-hour trading volume of $183,616,964 and a 24-hour price change of 6.7%. The all-time high of the dYdX asset was on September 30th, 2021 when it hit $27.86.

For those looking to invest in dYdX (DYDX), it is important to understand the price predictions for 2023. In dYdX (DYDX) price prediction 2023, the bullish prediction is $1.633 to $5.430. This is based on the analysis of the market trends, price patterns, RSI, RVOL, and other information about DYDX. The bearish market price prediction for 2023 is $1.015.

To understand the future movements of the dYdX asset, it is important to analyze the technical indicators. The dYdX/USDT horizontal channel pattern suggests that the price is constrained between the upper line of resistance and lower line of support. This shows that the price is unable to break out of the current range and is only able to move within it. Furthermore, the Relative Strength Index (RSI) is currently at 44.72, which is in the neutral zone. This indicates that the market is neither oversold nor overbought.

The dYdX (DYDX) price prediction 2023 is that the asset will reach $4 soon. This is based on the bullish predictions of the market and the current technical indicators. For those looking to invest in dYdX (DYDX), it is important to understand the market trends and technical indicators to make the most informed decision.

Genesis Global Capital to File for Bankruptcy After Failed Negotiations

• Troubled crypto lending firm Genesis Global Capital is likely to file for bankruptcy this week.
• Negotiations between Genesis and creditors have not been successful and bankruptcy is now being considered.
• Genesis and its creditors are currently negotiating a Chapter 11 bankruptcy plan that could involve a forbearance period of one to two years.

Troubled crypto lending firm Genesis Global Capital, a subsidiary of the Digital Currency Group (DCG), is likely to file for bankruptcy this week. The news comes after long and unsuccessful negotiations between Genesis and its creditors. Sources familiar with the matter said that Genesis might file for Chapter 11 bankruptcy if it is unable to raise cash amid a severe liquidity crunch.

The negotiations between Genesis and creditors have not moved forward as expected, leading to the consideration of bankruptcy. Creditors are now in talks with Genesis and its parent company, DCG, over a bankruptcy plan. The proposed plan involves a forbearance period of one to two years, during which creditors could receive cash and equity from DCG as part of the deal. Furthermore, Genesis has also been looking into various debt restructuring options in an attempt to stave off bankruptcy.

Genesis was founded in 2018 as a crypto lending and borrowing platform. It quickly rose to prominence and was considered to be one of the leading crypto lenders in the industry. However, the company has been struggling due to the prolonged bear market, resulting in a liquidity crunch. This has put a strain on its operations and has made it difficult for the company to pay back its creditors.

The potential bankruptcy of Genesis is a major blow to the crypto lending industry. If the company is unable to pay back its creditors, it could set a dangerous precedent for the industry, further damaging investor confidence. It is uncertain how the situation will play out, but it is clear that Genesis is in a difficult position. The company is exploring all options, but it seems that bankruptcy is becoming increasingly likely.

WeDoctor Poised to Float IPO in H2 2021, Backed by Tencent

• WeDoctor, a Chinese online healthcare services provider, is set to float its Initial Public Offering (IPO) by H2 2021.
• The firm is considering either a Hong Kong or US listing and that the plans from the firm could change over time.
• WeDoctor is transforming access to medicine in an innovative digital manner, and is backed by Tencent.

Chinese online healthcare services provider, WeDoctor, is looking to float its Initial Public Offering (IPO) by the second half (H2) of this year. WeDoctor has been in talks with investors and financial advisors about the IPO and is considering either a Hong Kong or US listing, with the plans from the firm possibly changing over time.

WeDoctor is looking to capitalize on the Chinese government’s easing of its crackdown on top tech companies, and launch its IPO at the perfect window. The company, founded in 2010 in Hangzhou China, is transforming access to medicine in an innovative digital manner. WeDoctor connects more than 3000 hospitals, 300,000 doctors, and 200 million patients together.

WeDoctor is backed by Tencent and has become a major player in the telemedicine sector in China. The company’s previous attempt to float its IPO was thwarted by the Chinese government’s crackdown on homegrown tech companies prevalent at the time. Now, WeDoctor is looking to take advantage of the new landscape and launch its IPO by H2 of 2021.

WeDoctor’s IPO would be a major milestone for the company and its investors, and would open up a new avenue of growth and potential for the company. WeDoctor’s unique digital platform has made it a leader in the healthcare sector in China, and a successful IPO could propel the company to the next level.

VanEck Suspends Two Russia ETFs amid Western Sanctions

• Investment firm VanEck has suspended two Russia ETFs due to prolonged inactivity following Russia’s invasion of Ukraine.
• The ongoing Western sanctions against Russia have effectively prohibited major stocks, including Gazprom, from trading in the West.
• VanEck explained that the Funds’ inability to buy, sell, and take or make delivery of Russian securities has made it impossible to manage the Funds consistent with their investment objectives.

VanEck, a New York-based asset manager, has recently announced the suspension of two of its Russia exchange-traded funds (ETFs). This decision comes as a result of the prolonged inactivity of the Russian market due to the Western sanctions imposed in response to Russia’s invasion of Ukraine.

The sanctions imposed have effectively prohibited major stocks, such as Gazprom, from trading in the West. This has resulted in a shortage of liquidity for the funds, making it difficult for VanEck to manage them in accordance with their investment objectives. In a press release, the company stated, “The Funds’ inability to buy, sell, and take or make delivery of Russian securities has made it impossible to manage the Funds consistent with their investment objectives. The Funds will not engage in any business or investment activities in Russia.”

VanEck’s decision to suspend the two Russia ETFs is a clear indication of the impact that Western sanctions have had on the Russian market. The company is not alone in this, as other firms have also liquidated their investments in the country due to the sanctions.

The situation in Russia has had a ripple effect on other countries as well. For instance, the ruble has lost value against the U.S. dollar, while the Russian Central Bank has raised interest rates to try and contain the economic fallout. This has caused a domino effect across the world, with other countries seeing their currencies depreciate against the U.S. dollar as well.

The sanctions imposed by the West on Russia are only likely to get tougher and could be extended to other sectors of the economy as well. This will further exacerbate the already volatile situation in the country, with investors likely to stay away from investing in Russian assets.

VanEck’s decision to suspend its Russia ETFs is a sign of the times and a reminder of the consequences of the ongoing geopolitical tensions. It is yet to be seen how the situation will develop and whether Russia will be able to weather the storm. In the meantime, investors will have to wait and watch as the economic fallout of the sanctions continues to unfold.

Crypto Investor Arrested for $110M Market Manipulation & Fraud

• Avraham Eisenberg was recently arrested in Puerto Rico on charges of market manipulation and fraud.
• Eisenberg had exploited a loophole on the Mango Markets DeFi trading platform to make away with $110 million worth of crypto.
• Eisenberg was charged with commodities fraud by the Department of Justice, which caused reactions from the crypto community.

Avraham Eisenberg was recently arrested by the Puerto Rican police on charges of market manipulation and fraud. The arrest followed after the crypto investor had successfully exploited a loophole on the Mango Markets DeFi trading platform, making away with $110 million worth of crypto and eventually causing the platform to become insolvent.

Eisenberg, however, insists that he and his team had only “operated a highly profitable trading strategy” and that they had only carried out market actions that were legally permitted by the protocol.

The arrest of Mango Markets exploiter drew reactions from the crypto community, particularly regarding the terms of the charges he faces. Eisenberg was charged with commodities fraud by the Department of Justice. This caused shock waves in the crypto community as this is the first time a crypto-related scam has been charged as a commodities fraud case.

The Department of Justice argued that the crypto assets traded on Mango Markets, such as MNGO, were considered commodities, and that Eisenberg had committed fraud in his trading activities on the platform. The case has now been referred to the FBI and the US Attorney’s Office in Puerto Rico.

The case has raised questions and concerns about the legality of trading crypto assets and the lack of regulation in the crypto space. The legal implications of the case are still being determined, and the crypto community is watching the case with great interest.

Eisenberg’s case has also highlighted the importance of ensuring that crypto exchanges are well-regulated to protect investors’ funds and to prevent similar scams from taking place in the future. It remains to be seen how the case will unfold, but it is clear that it will have a lasting impact on the crypto industry.

Solana (SOL) Price Plunges 96%, Vitalik Buterin Still Bullish on Future

• Ethereum-killer Solana (SOL) has experienced a major correction in price, dropping more than 96% since the beginning of 2022.
• The massive price drop was triggered after the implosion of the crypto exchange FTX, which had invested in a number of Solana-based projects.
• Despite the market correction, Ethereum co-founder Vitalik Buterin believes that Solana has a bright future.

The year 2022 has been a tumultuous one for the crypto market, with massive price corrections causing many investors to lose a lot of money. One of the worst affected cryptos has been Ethereum-killer Solana (SOL), which has seen its price drop more than 96% since the start of the year.

The major correction in Solana (SOL) price was triggered after the implosion of the crypto exchange FTX last month. FTX and its sister trading firm Alameda Research had invested heavily in a number of Solana-based projects, and were in the process of building a decentralized finance (DeFi) platform called Serum. Additionally, FTX US had also planned to launch a Solana-based token, however, these plans had to be cancelled due to the market crash.

The price of SOL has tanked further and is now trading at $9.38 levels with a market cap of $3.4 billion. This has resulted in Solana dropping out of the top 20 crypto list, however, it has partially recovered since then. Despite the bearish market conditions, Ethereum co-founder Vitalik Buterin still believes that Solana has a bright future.

Buterin has stated that Solana has the potential to become a major player in the crypto market and that its technology is one of the best in the industry. He has also praised the team behind the project for their work, stating that they are committed to improving the protocol and making it more secure and scalable.

As the crypto market continues to be volatile, it remains to be seen how Solana (SOL) will perform in the future. However, with the backing of one of the biggest names in the industry and its innovative technology, there is no doubt that the project will continue to grow and thrive.

MicroStrategy to Launch Enterprise Plugins on Lightning Network in 2023

• MicroStrategy plans to launch enterprise plugins on Lightning Network in 2023
• The company is developing cybersecurity, e-commerce, and marketing solutions for enterprise users and leveraging its experience in developing mass-deployable plugins
• Citing the speed of transactions on the Lightning network, Saylor noted the delays associated with using credit cards for such a transaction would not affect the Lightning network

MicroStrategy, a global leader in the enterprise intelligence business, has announced plans to launch enterprise plugins on the Lightning Network. The company is currently working on a range of products designed to provide users with cybersecurity, e-commerce, and marketing solutions.

Michael Saylor, co-founder and former CEO of MicroStrategy, made this disclosure during a Twitter Spaces event. He noted that the company would be leveraging its experience in developing mass-deployable plugins in order to provide users with the best experience possible.

Saylor also cited the speed of transactions on the Lightning network, noting that such delays associated with using credit cards for such a transaction would not affect the Lightning network. This is why the company has teams working on different products concurrently and plans to unveil them in the first quarter of 2023, with a full launch shortly afterwards.

The Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain that facilitates faster and cheaper transactions. It is designed to enable users to make transactions off-chain in order to reduce the amount of load on the main chain.

The integration of the Lightning network into MicroStrategy’s enterprise plugins would be a major step forward in the development of blockchain technology. It would open up a range of possibilities for enterprise users, as they would be able to make use of the Lightning Network’s speed and scalability.

In addition, the plugins would provide users with the ability to easily and securely connect to the Lightning Network. This would make it easier for users to make payments and transfer funds without having to worry about the time it takes for the transaction to be processed.

The announcement of the development of the enterprise plugins is a sign of the company’s commitment to the advancement of blockchain technology. With the plugins, MicroStrategy is aiming to provide enterprise users with the tools they need to take full advantage of the Lightning Network and its benefits.

The company is confident that the plugins will be a step forward in the development of the Lightning Network and blockchain technology as a whole. It is also hoping that the plugins will help to bridge the gap between the traditional financial system and the blockchain.

With the launch of the enterprise plugins, MicroStrategy is looking to revolutionize the way enterprises use the Lightning Network. It is a sign that the company is committed to the development of blockchain technology and is looking to make it easier for enterprises to make use of the Lightning Network’s speed and scalability.