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FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials from the United States. FTX Lawyers Argue for Expelling Turkish Subsidiaries From Bankruptcy Proceedings According to a recent bankruptcy court filing, FTX debtors have submitted a motion to remove the company’s Turkish entities from the Chapter 11 proceedings. The FTX-related units named in the court filing include FTX Turkey and SNG Investments. The debtors claim that FTX Turkey was a locally operated crypto exchange and SNG Investments was a wholly-owned Alameda Research subsidiary that acted as a market maker. Shortly after FTX collapsed, lawyers say “Turkish authorities froze and seiz...

Join Our Telegram channel to stay up to date on breaking news coverage Most lovers of digital collectibles think of Ethereum, Solana, or Polygon when discussing them, and for good reason—proof-of-stake blockchains have dominated the NFT sector. However, Bitcoin-based digital collectibles have been around since 2014, and a number of projects have made it their ongoing goal to introduce NFTs to the first and largest cryptocurrency. NFTs are digital assets that can be proven to be one of a kind and are connected to other digital (and occasionally physical) works of art, movies, and music that provide evidence of ownership or membership in a select club. NFTs have been a part of the Bitcoin ecosystem for about ten years now, but some people still don’t understand the value. One of these projects is called Ordinals, and some Bitcoin maximalists consider it to be an insult to the fundamentals of Bitcoin. "you can't stop them" well ofc! bitcoin is designed to be cens...

Excitement over C+Charge is currently at fever pitch. The new crypto project is shaking up the electric vehicle industry by offering massive benefits to EV owners. Its native token has garnered over $460,000 in its presale, and now appears to be the right time to invest.  C+Charge’s Solution to EV Inefficiency  Over the past few years, the world has seen greater adoption of electric vehicles. These cars are seen as eco-friendly alternatives to traditional vehicles, which can take humans away from dependence on fossil fuels.  Thanks to companies like Tesla and Rivian, EVs have become household commodities, and traditional carmakers such as Toyota and Mercedes have also switched production to focus more on EV production. Nevertheless, the EV space remains ripe for disruption. The new crypto project C+Charge aims to bring the benefits of blockchain technology to the EV charging space by incorporating the concept of carbon credits. EV owners can use ...

Bitcoin bulls have everything to play for as the weekly and monthly closes decide what could be Bitcoin's best January in ten years. Bitcoin (BTC) spiked into key liquidity for a third time into Jan. 29 as the weekly and monthly closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader on Bitcoin: $25,000 "in sight" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD briefly hitting $24,498 on Bitstamp overnight. The move, although short lived, marked the pair's third such attempt to take sell-side liquidity above $23,400 in recent days. In each instance, bulls appeared to lack momentum to reclaim new support levels, and at the time of writing, the status quo remained the same, with Bitcoin trading just below liquidity at $23,250. BTC/USD order book data (Binance). Source: Material Indicators/ Twitter Previous order book data from Binance uploaded to Twitter by monitoring resource Material Indicators demonstrated the firepower n...

During the past 30 days, the layer one blockchain asset aptos (APT) has risen 391.8% against the U.S. dollar. In the past seven days, Aptos has increased 123.7% after reaching an all-time high of $19.92 per unit on Jan. 26, 2023. The Role of Decentralized Finance, Infrastructure Support, and NFTs in Aptos’ Recent Surge in Value A relatively new cryptocurrency, aptos (APT), reached an all-time high on Thursday when the token hit $19.92 per coin. Aptos, which launched in mid-Oct. 2022, was created by two developers who previously worked on Meta’s Diem project before it was discontinued. The project is also supported by several venture capital firms including Parafi, Andreessen Horowitz, and Multicoin Capital. When the mainnet went live and aptos (APT) started trading, the price increased about 20%. However, like the rest of the cryptocurrency market during the last two months of 2022, the value of aptos dropped. On Dec. 29, 2022, aptos reached an all-time low of $3.08 per c...

Bitcoin Takes a Significant Step Forward, but With Strong Rejection at $24K – January 26, 2023 BTC/USD is still trying to overcome the $23,000 resistance but suffers strong rejection at $24K. Bitcoin made a huge step forward on January 25 when it surged to $23,812 but ran into resistance at the $24,000 high. The next stop for Bitcoin is the high of $25,212, but it must first clear one more obstacle. That is the level of resistance at $24,000.Today, Bitcoin has fallen below the $23,000 resistance level. Bitcoin Price Statistics Data: •Bitcoin price now – $22,803.82 •Bitcoin market cap – $439,523,914,681 •Bitcoin circulating supply – 19,273,800 BTC •Bitcoin total supply – $478,900,142,478 •Bitcoin Coinmarketcap ranking – # 1 Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000 The cost of Bitcoin (BTC) has fallen back below the $23,000 resistance despite breaking the recent high. There ar...

The author is from Xiamen National Accounting Institute (a research institute under the Chinese Ministry of Finance) Original link: https://mp.weixin.qq.com/s/y7agoPj-57Av9g1gh-9fSQ On January 3, 2009, the first Bitcoin was born, which was also the creation of the currency from the era of credit currency to the era of decentralized currency. The taxation of Bitcoin in various countries is compared, in order to learn from China’s taxation method on cryptocurrencies such as Bitcoin. Taxation practices of various countries for Bitcoin USA In 2014, the US Internal Revenue Service officially launched the taxation of Bitcoin. The U.S. Digital Cryptocurrency Tax Announcement (IRS Notice 2014–21) first stipulates that the tax link includes the sale of crypto currencies , the purchase of goods, services and holding, and then specifies the corresponding specific tax obligations according to the tax link. In the bitcoin issuance process, that is, “mining” to obtain income, the fair value on the d...

After rising sharply in number in wake of the Bitcoin price drop that was triggered as a result of the collapse of the FTX cryptocurrency exchange in early November, the number of so-called Crab, Fish and Shark cryptocurrency addresses has stabilized, data from on-chain crypto analytics firm Glassnode suggests. Crab addresses are Bitcoin wallets with between 1 and 10 BTC and are generally assumed to be committed retail investors (or HODLers). Fish addresses hold between 10 and 100 BTC, while Shark addresses hold between 100 to 1,000 BTC. These two address cohorts are generally made up of high-net-worth individuals, trading desks and institutional-sized entities, according to Glassnode. In wake of the FTX collapse, the number of Crab addresses jumped from around 760,000 to current levels of around 824,000. The 30-day change in Crab address numbers peaked at around 47,000 in early December but has since fallen to only a few thousand. Over the same time period, the num...

Bitget integrates with Mizar. This partnership will be bringing the latest technology in copy trading and DCA bots. With this integration both projects hope to make your trading operations easier and more profitable, giving you the edge you need to succeed in the fast-paced world of crypto. Whether you’re a seasoned pro or just starting out, Mizar’s integration with Bitget has something to offer for every trader.  Bitget is a cryptocurrency exchange that provides comprehensive and secure trading solutions to a global user base. Bitget has made a name for itself in the world of social trading, attracting over 8 million users, 1.1 million followers, and 55,000 professional traders from more than 100 countries. In fact, Bitget is ranked in the top five globally by CoinGecko for derivatives trading by volume, with over US$100 billion in trading volume in 2021 alone. Some of Bitget’s key features include: Battle-tested Technology Stable Security Professional Customer Support 24/7 Margi...

ETH price has repeatedly failed to break above a key trendline resistance and now Ethereum risks losing a strong technical support as well. Ether's (ETH) rally versus Bitcoin (BTC) is not only showing signs of exhaustion, but is also in danger of breaking below a key technical support level.  ETH slides vs. BTC in second half of January The ETH/BTC pair declined nearly 9.25% on Jan. 24 from its local top of 0.0779 BTC established on Jan. 11. Since the start of the year, Bitcoin is slightly outpacing Ether in USD terms, rising 38% versus 35%, respectively. ETH/BTC daily candle price chart. Source: TradingView Interestingly, Ether's pullback versus Bitcoin has landed its price at the bottom of its EMA ribbon range, as shown below. ETH/BTC weekly candle price chart. Source: TradingView The EMA ribbon indicator shows numerous exponential moving averages of increasing timeframe on the same price chart. Dropping below the ribbon range increases an asset's likelihood of seeing a...

Singapore’s senior minister and the chairman of the central bank, the Monetary Authority of Singapore (MAS), says there should be just “ one regulatory system” for both crypto and traditional finance. In addition, he stressed that regulators should provide “ultra clarity as to what’s an unregulated market,” so investors are aware that they go in at their own risk. ‘One Regulatory System’ Tharman Shanmugaratnam, Singapore’s senior minister who is also the chairman of the country’s central bank, the Monetary Authority of Singapore (MAS), talked about cryptocurrency regulation during a panel discussion with other regulators and bankers at the World Economic Forum last week. Shanmugaratnam previously served as Singapore’s deputy prime minister and the minister for finance. He is also currently the coordinating minister for social policies and adviser to the prime minister on economic policies. “Something is very cl...

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. The cryptocurrency markets move in cycles, just like stocks. The industry remains in a bearish market, meaning that cryptocurrency prices have declined from their previous heights - most of which were realized during the bull run of 2021. So that begs the question - Is cryptocurrency a good investment? Read on to discover whether cryptocurrency represents a viable addition to an investment portfolio in 2023.  Is Cryptocurrency a Good Investment? Our Verdict Summarized When asking the question - Is cryptocurrency a good investment? investors should consider a range of factors - especially when it comes to the overall risk tolerance.  Below, we summarize our key findings that beginners should consider when asking themselves should I invest in crypto currency ? Cryptocurrencies are still a new phenomenon, at least wh...