Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Bybit Fintech sued for $1 billion by the FTX bankruptcy team

  • The FTX Bankruptcy is seeking to recover assets worth about $1 billion.
  • The lawsuit will be heard by a Delaware Court.
  • The funds in question were allegedly withdrawn from FTX.

FTX’s bankruptcy advisers have recently initiated legal action against Bybit Fintech and its affiliated companies, including Bybit’s investment arm, Mirana Corp.

The lawsuit, filed in a Delaware court, aims to recover approximately $953 million in cash and digital assets that were allegedly withdrawn from FTX just before its Chapter 11 bankruptcy filing a year ago.

Charges against Mirana Corp.

The lawsuit alleges that Mirana Corp. enjoyed special “VIP” benefits not available to regular FTX customers, exploiting these privileges to withdraw a substantial portion of assets from FTX. Mirana is accused of exerting pressure on FTX employees to fulfil its withdrawal requests while other customers faced delays accessing their funds as the exchange approached collapse in November 2022.

According to the complaint, Mirana withdrew over $327 million from FTX between the early morning of November 7 and November 8, 2022, during a critical period when FTX had paused withdrawals.

Bybit affiliates named in FTX’s Chapter 11 Bankruptcy lawsuit

Bybit Fintech Ltd., Mirana, and affiliated crypto trading firm Time Research Ltd. are listed as defendants in the bankruptcy lawsuit. Additionally, a senior Mirana executive and Singaporean residents allegedly involved in the FTX withdrawals are named in the legal proceedings.

FTX, under new management, is intensifying efforts to recover funds disbursed before its Chapter 11 filing. Legal actions have been initiated against various entities, including Kives and his venture capital firm, K5, to reclaim significant sums. FTX is also exploring the possibility of reclaiming funds donated to politicians, charitable organizations, and payments made to celebrities, such as Shaquille O’Neal and Naomi Osaka, for endorsing the platform.

This lawsuit represents the latest move in FTX’s ongoing legal battles as it seeks to navigate the complexities of Chapter 11 bankruptcy and recover lost assets.

The post Bybit Fintech sued for $1 billion by the FTX bankruptcy team appeared first on CoinJournal.

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Crypto bull run is back: Memeinator is the new meme coin to watch

  • Cryptocurrency prices have surged to the highest point in more than a year.

  • Bitcoin and Ethereum prices have risen to the highest point since May 2022.

  • Memeinator has already raised over $1.2 million from investors.

The cryptocurrency market has made a strong comeback in the past few months. Bitcoin has surged from last year’s low of $15,500 to over $37,000. Ethereum has surged to over $2,000. Other coins like Bonk, Solana, Cardano, and Internet Computer have continued soaring.

Why are cryptocurrencies soaring?

There are three main reasons why cryptocurrencies are jumping. First, cryptocurrencies have roared back because of the ongoing adoption of digital coins by institutional investors. Several mainstream companies like Franklin Templeton, Blackrock, Invesco, and Ark Invest. These companies have all applied for spot Bitcoin ETF.

And this week, Blackrock unveiled that it was considering launching a spot Ethereum ETF. Analysts believe that this trend will lead to more adaptation by the biggest investors in the world.

For one, while cryptocurrencies are valued at over $1.4 trillion, their adoption has been mostly driven by retail investors. As such, an embrace by moneyed institutions would have an immediate impact.

Cryptocurrency prices have also risen because of the actions of the Federal Reserve. The bank decided to leave interest rates unchanged between 5.25% and 5.50% in the last meeting. It then pointed to maintain rates at the current level for a while. This situation will likely continue now that Moody’s has lowered the outlook for America’s debt. 

Third, they have jumped because of the upcoming Bitcoin halving, which will take place in April 2024. Historically, Bitcoin tends to do well ahead of the periodic halving event. 

Memeinator to benefit

A key theme during the ongoing crypto rally is that meme coins have made a comeback. Bonk, the popular Solana meme coin that became a sensation in January, suddenly woke up, leading to a major surge. The token jumped to a high of $0.00000030, the highest point since January. 

The rebound of meme coins like Bonk and Floki Inu is a good sign that newer crypto tokens like Memeinator will benefit. Memeinator is an upcoming crypto token that is now in the presale stage.

It is a meme coin that seeks to change the industry. It aims to do that by having a broad ecosystem, which will be powered by Artificial Intelligence (AI). Also, the MMTR token aims to eliminate the competition by investing heavily in marketing. 

There are signs that Memeinator will be a top meme coin. For one, it has already gained traction among investors, as evidenced by the cash it has raised. The developers have already raised over $1.29 million from investors with no major marketing. You can buy the MMTR token here.

The post Crypto bull run is back: Memeinator is the new meme coin to watch appeared first on CoinJournal.

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Crypto price prediction: Shiba Memu, Celestia, Terra Luna

  • Cryptocurrencies have been the best-performing assets recently.

  • Shiba Memu has now raised over $4.4 million from global investors.

  • Other top-performing tokens were Celestia and Terra Luna.

Cryptocurrency prices thrived this week as investors cheered the hints from the Federal Reserve and the stocks surge. They also surged after Blackrock filed for an Ethereum ETF. Bitcoin surged to over $37,000 while Ethereum moved to over $2,000. This surge pushed the total market cap of all cryptocurrencies to over $1.4 trillion.

Another important feature of the financial market was the meme coin comeback. Bonk, the Solana meme coin, surged to the highest point since January as demand rose. Other meme coins like Catecoin, Shiba Inu, and Floki Inu also jumped. This article looks at some of the top cryptocurrencies to watch, including Shiba Memu, Celestia, and Terra Classic.

Shib Memu forecast

The comeback of meme coins like Bonk and Floki has led many investors to consider allocating some of their cash to upcoming tokens. The theory is that investing in these coins is usually less risky because of their cheap prices. 

One meme coin that is doing well is known as Shiba Memu, which is currently in a presale. The token has already raised over $4.4 million in the past few months, making it one of the best-performing players in the industry. 

Shiba Memu, unlike other meme coins, has a go-to strategy that will help it do well when it gets listed soon. For one, unlike meme coins like MEME and Bonk which have no utility, it aims to develop a full ecosystem. For example, the developers aim to infuse artificial intelligence (AI) in the network.

AI is the fastest-growing industry this year. For example, a company like OpenAI, the creator of ChatGPT, has become a multi-billion dollar entity that makes millions of dollars every day. It is being used by more than 100 million people globally. 

OpenAI is not the only one. Anthropic has raised over $4.4 billion from investors while Elon Musk has launched Grok. Other smaller companies are working to develop their AI suites. 

According to Shiba Memu’s whitepaper, the developers will use the technology to boost its self-marketing. Therefore, because of its growing popularity, there is a likelihood that the token will jump when it gets listed. You can buy the Shiba Memu token here.

Terra LUNA price prediction

Terra (LUNA) is the remnant of Terra, which was once a top-ten cryptocurrency. LUNA was one of the top-performing cryptocurrencies this week as its price surged to a high of $0.000096, the highest point since June 13th. At its highest point this week, the token was up by more than 76% from the lowest level. This price was also slightly above the 23.6% Fibonacci Retracement level.

On the daily chart, LUNA price has moved above the 25-day and 15-day Exponential Moving Averages. It is also a few points above the key support at $0.000076, the lowest point in July this year.

The chart also shows that LUNA’s volume has been rising steadily recently. Therefore, the outlook for the token is quite bullish for now, with the next level to watch being at $0.00015, the 38.2% retracement level. This view will be confirmed if it moves above this week’s high of $0.00096.

Celestia TIA price forecast

Celestia is a relatively new cryptocurrency. The developers have built what they say is the first modular blockchain network. This means that it securely scales with the number of users, which makes it easy for people to build and launch their networks. A few developers have already joined the ecosystem, including Astria, Blockless, Berachain, and

Celestia token has been one of the top-performing cryptocurrencies recently. It jumped to a high of $3.90 this week. At its peak, it was over 75% from its lowest level this year. It has now pulled back as investors start taking profits. I suspect that the token is now forming a double-top pattern, meaning that it could retest the all-time high of $3.90. If this happens, it will need to rise by 20%.

The post Crypto price prediction: Shiba Memu, Celestia, Terra Luna appeared first on CoinJournal.

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Solana price hits 17-month high above $54: What next for SOL?

  • Solana price rose to $54 on Friday, its highest level since May 2022.
  • SOL has outperformed top altcoins as positive catalysts aid bulls’ push, with price up 40% this past week and 138% over 30 days.
  • How far can Solana price rise? Data suggests further upside is possible.

Solana continued its outperformance on Friday with another huge green candle as price rose 24% to climb to highs of $54. The cryptocurrency’s value has jumped more than 40% this past week and an impressive 138% over the last 30 days.

According to data from CoinGecko, Solana price has increased by 220% in the past year – reclaiming levels it traded at before the collapse of crypto exchange FTX.

Solana price breaks above $54

Despite recent sell-off pressure, bulls have managed to push SOL price to its highest level since May 2022.

The breakout to this 17-month high comes after buyers regained control at the critical $30 level, with this allowing for further upside to $38. A retest and fresh impetus allowed for this week’s parabolic move to $50.

Solana price chart. Source:TradingView

According to crypto data and market intelligence platform Santiment, Solana’s gains are accompanied by a major spike in crowd discussions about the coin.
While funding rates have flipped higher, they are yet to enter the danger zone. Can SOL see more gains? 

As highlighted earlier, Ethereum, Solana and other altcoins exploded today after news that BlackRock had filed for a spot Ethereum ETF.

Also playing a role in the price surge was this week’s comments by Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC). Gensler noted during an interview with CNBC that plans to revive FTX could work if those looking to do so adhered to the law.

Gensler’s comments came at a time when reports indicated that entities looking to reboot the bankrupt exchange had come down to a final shortlist of three companies. It includes Bullish, a digital assets platform founded by a former New York Exchange executive.

The post Solana price hits 17-month high above $54: What next for SOL? appeared first on CoinJournal.

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Bitcoin trades above $37k: Will it reach the $40k psychological level soon?

Key takeaways

  • Bitcoin is trading above $37k as the broader crypto market rallies higher. 

  • Memeinator has now raised more than $1.2 million as its presale attracts more investors.

Bitcoin eyes the $40k level

Bitcoin, the world’s leading cryptocurrency by market cap, has been performing well over the last few weeks. It has added more than 7% to its value in the last seven days and the price of Bitcoin currently stands at $37,100 per coin.

The broader cryptocurrency market has also been rallying, with the total crypto market cap now at $1.4 trillion mark. If the bulls remain in control, Bitcoin could test the $40k resistance level in the short term. 

What is Memeinator?

Bitcoin and the other major cryptocurrencies have been rallying since the start of the week. With the market experiencing a rally, investors could be looking at new projects and Memeinator is one to keep an eye on. 

Memeinator is a Web3 project that is riding the meme coin wave and seeks to provide numerous utilities to users. The team focuses on eliminating worthless memes and improving content creation for users. 

Memeinator also wants to become one of the top meme coins in the cryptocurrency space. The project wants to leverage AI technology to identify worthless memes, allowing investors to know them and avoid them. 

The team pointed out that they will be working hard to ensure Memeinator reaches a $1 billion market cap in the medium term and would achieve this via massive adoption of its platform. 

The Memeinator presale is currently in its sixth stage and the team has raised more than $1.2 million. The MMTR price began the presale at $0.01 per token, and the price will rise to $0.0485 by the end of the presale, giving early-bird investors a whopping 132% ROI at listing.

Furthermore, the developers will launch a Memeinator game at the presale’s conclusion. The Memeinator game players will get to eliminate enemy memes to win some exciting prizes. 

Why is the Memeinator presale attracting more investors?

Memeinator continues to attract more investors thanks to its unique project proposition. The project is appealing to a wide range of audiences, from degens to crypto natives and speculators, giving it the opportunity to become a hit in the market. 

The platform will use AI to analyse and evaluate memes on the internet, identifying lower-quality memes to replace or “destroy. Memeinator is also dedicated to uplifting meme culture and quality.

Holders and network participants will be incentivized on the Memeinator network. The MMTR token has some excellent features, such as deflationary mechanisms and rewards for holders, incentivising the project for holders in the long term. 20% of the tokens are allocated for marketing, CEX listing and liquidity. 

Click here to read more about the Memeinator presale.

Is the Memeinator a good investment? 

The Memeinator project has so far raised over $1.2 million since the presale began. The project is an exciting one for investors thanks to its use of AI technology to provide excellent value to investors in the medium and long term.

The team intends to grow the project to a billion-dollar market, and early investors would record huge profits if that happens. With the right level of adoption, Memeinator could become one of the top meme tokens in the cryptocurrency ecosystem. 

The post Bitcoin trades above $37k: Will it reach the $40k psychological level soon? appeared first on CoinJournal.