It has been stated that tracking the wallet movements of Bitcoin (BTC) whales will not lead to "true alpha" as some traders claim. “Don't whale watch guys, this isn't useful information,” said Glassnode principal analyst James Check. A common belief in the crypto industry is that Bitcoin whales, large holders of Bitcoin, can influence the market with their trading tactics.

However, whales' movements can be interpreted in different ways, so the data never provides a definitive indication. For example, the sudden activation of dormant addresses holding large amounts suggests selling, especially if they go to an exchange deposit address.

However, other analysts continue to rely on whale movements as an indicator of price movements. On May 15, crypto analysis firm CryptoQuant said Bitcoin whale demand was in “acceleration mode” again after a two-month downtrend.

What are you thinking? Is tracking whale movements a reliable way to predict Bitcoin price movements? We are waiting your comments.#Bitcoin#Cryptocurrency #WhaleMovements

The most important news this week:

Elon Musk threatened to ban Apple devices from his companies if OpenAI is deeply integrated into operating systems. Apple has received criticism for not developing its own AI solutions and endangering user privacy.

Greenpeace is calling for changing Bitcoin's energy consumption model to a more environmentally friendly one. Their campaign argues that Bitcoin's energy consumption contributes significantly to environmental destruction.

Terraform Labs agreed to pay approximately $4.47 billion as part of its agreement with the US Securities and Exchange Commission. However, he must queue behind secured creditors to get paid.

Keith Gill, also known as Roaring Kitty, has significantly increased his investment in GameStop and purchased an additional 4 million shares. This brings the total number of shares to over 9 million.

KuCoin Research reported that the crypto industry received over $1 billion in investments in May. Total investment was announced as $1.02 billion in 156 transactions in May.

At the end of the week, Bitcoin (BTC) is at $66,483, Ether (ETH) is at $3,464 and XRP is at $0.47. Total market capitalization is $2.42 trillion.

The top three gaining altcoins of the week were Monero (XMR) with 6.46%, Toncoin (TON) with 4.90% and Oasis (ROSE) with 3.78%.

The three most losing altcoins of the week were Wormhole (W) -35.63%, FLOKI (FLOKI) -32.97% and Arweave (AR) -29.82%.

Be sure to read Cointelegraph's market analysis for more information.

What do you think about this news? Share your comments below.#blockchain#crypto #news

Artificial intelligence (AI) company OpenAI is considering moving from a limited-profit model to a purely for-profit model. CEO and co-founder Sam Altman notified shareholders that he was considering the move. If it happens, this could cause OpenAI's nonprofit board to lose control over the company.

OpenAI's current private valuation is approximately $86 billion. The company's current structure is described on its website as "a partnership between our original nonprofit partnership and the new limited-profit arm."

However, the website still warns shareholders to view their investments as donations. CEO Sam Altman's efforts to restructure the company come as he fills the board with himself and newly elected shareholders.

This drew a harsh reaction from former US intelligence contractor Edward Snowden. Snowden warned the public to "never trust" OpenAI or its products.

What do you think about this? We are waiting your comments.#OpenAI#AI #Blockchain

T-Mobile Deutsche Telekom announced its intention to begin mining Bitcoin (BTC). The company has operated a Bitcoin node since 2023 and currently operates Bitcoin Lightning nodes. “We have been running a Bitcoin node since 2023 and we also run Bitcoin Lightning nodes… We will soon photosynthesize digital currency,” said Dirk Röder, Head of Web3 Infrastructure and Solutions at Deutsche Telekom.

The company has been active on Web3 as a Polygon validator since June 2023, strengthening its position to generate new revenue streams by leveraging its extensive infrastructure. As one of the 100 validators, Deutsche Telekom has provided staking and verification services on Polygon for over a year, helping to support the Platform's proof-of-stake (PoS) consensus mechanism.

In February, Fetch.ai, a decentralized artificial intelligence (AI) platform, partnered with Deutsche Telekom to build enterprise AI. As a validator on the Fetch.ai blockchain, the telco helps power Fetch.ai's AI-powered autonomous agents. These autonomous agents provide services in healthcare, automotive, supply chain management, and digital identities by managing resources, performing transactions, and analyzing traffic flows.

What do you think about these developments? We are waiting your comments.#blockchain#cryptocurrency#TMobileDeutscheTelekom#Bitcoin

Ethereum co-founder Vitalik Buterin has confirmed the potential blockchain application of the new Token for Image Tokenizer (TiTok) compression method. Not to be confused with social media platform TikTok, the new TiTok compression method significantly reduces image size, making it more practical for storage on the blockchain.

Buterin said, "320 bits are basically a hash. It's small enough to go up the chain for each user." He emphasized TiTok's blockchain potential. This development could have significant implications for digital image storage of profile pictures (PFPs) and non-fungible tokens (NFTs).

TiTok was developed by ByteDance and Technical University Munich researchers. It can compress an image into 32 small pieces of data (bits) without losing quality. TiTok uses advanced artificial intelligence (AI) image compression to compress an image into “32 individual tokens.”

TiTok uses machine learning and advanced AI using transformer-based models to transform images into tokenized representations. The method uses region redundancy, that is, it identifies and uses redundant information in different regions of the image.

Buterin's highlighting of TiTok's blockchain potential lends credibility to the new AI-powered image compression method. The newly proposed method can represent an image with “8 to 64 times” fewer tokens than “2D tokenizers.”#blockchain#Ethereum #TiTok

Bitcoin (BTC) price fell to $64,950 on Bitstamp on June 14, a decline of 3.5%. This move increased losses since the beginning of the week to over 6.7%. So, what will the BTC price be in this case?

“If the bulls lose the $65,000 support, be prepared for $60,000 or lower,” said Keith Alan, co-founder of trading resource Material Indicators.

Axel Adler Jr., a contributor to on-chain analytics platform CryptoQuant. He stated that the cost base of Bitcoin holders will receive a new market test. These levels represent the total purchase price of investors holding the coin for various periods of time.

CryptoQuant shows the realized price for short-term coin holders as $62,200. The realized price for those who hold coins for three to six months is $55,500, and the cost base for long-term coin holders is $24,300.

So, what do you think the price of Bitcoin will be? We are waiting your comments.#Bitcoin#CryptoNews

Traditional procurement processes face challenges such as manual processes, lack of transparency, limited supplier competition and reactive approach. This inhibits efficiency and adaptation.

Blockchain technology has the potential to revolutionize procurement processes. Supply chain traceability can increase transparency, efficiency and trust through smart contracts and decentralized marketplaces.

Smart contracts optimize procurement processes through automation, transparency and the ability to handle complex scenarios.

A phased approach involves identifying use cases, developing a proof of concept, and scaling the solution while ensuring integration and user training.

However, the implementation of smart contracts in procurement faces challenges due to lack of standardization, unclear legal frameworks and technical complexity.

What do you think about this? Share your comments with us.#blockchain#procurement #smartcontracts

The Australian Securities Exchange (ASX), Australia's largest stock exchange, has approved the first spot Bitcoin exchange-traded fund (ETF). Investment firm VanEck will be the issuer of the spot Bitcoin ETF, which will begin trading on June 20. Arian Neiron, VanEck's CEO in the Asia-Pacific region, noted that demand for Bitcoin in Australia is growing, particularly through a "regulated, transparent and familiar investment vehicle".

Although this is the first time a spot Bitcoin ETF has been approved by the ASX, there have been two other occasions where Bitcoin ETFs have been launched in Australia in the last two years. Recently, the Monochrome Bitcoin ETF (IBTC) was approved and began trading on the Cboe Australia exchange, Australia's second largest exchange.

In April 2022, the Global X 21 Shares Bitcoin ETF (EBTC) became the first Bitcoin ETF product to launch in Australia. What do you think about these developments? Share your comments below.#blockchain#bitcoin #ETF

El Salvador's president, Nayib Bukele, who is a supporter of Bitcoin, proposes the creation of private investment banks. If approved, it would offer Bitcoin (BTC) investors access to financial services and fewer restrictions than traditional banks.

Max Keiser, Bukele's senior Bitcoin advisor, said: "Bukele quickly implemented the law to establish a Bitcoin Bank in the new era." Ark Invest CEO Cathie Wood's prediction that El Salvador's real GDP "could increase 10-fold over the next five years" is becoming "even more likely," Keizer said.

It was stated that Private Investment Bank (BPI) will not face the same stringent laws as traditional banks. Such as restrictions on dealing with overseas banks or financial companies "connected to their shareholders or a business group". Credit restrictions will also be lifted.

If approved, the new private investments would "have to be formed" with a minimum share capital of at least $50 million and would require at least two shareholders, who could be foreign.

El Salvador's Minister of Economy, María Luisa Hayem, proposed the reform to the Technology, Tourism and Investment Commission under Bukele's direction. However, it has not been approved yet. What are your thoughts? Share your comments with us.#ElSalvador#Bitcoin #BPI

Cloud-based crypto mining platform NiceHash has introduced a new firmware product with features developed by Marathon Digital. This makes the mining company's technology available to retail and home miners. The new firmware will be marketed as NiceHash Firmware Powered by MARA. Marathon Digital is the world's largest Bitcoin (BTC) miner and the most efficient. He mined 390 BTC in May. “This collaboration enables us to deliver advanced security and optimization features to Bitcoin miners of all sizes, improving their performance and profitability,” said Ashu Swami, CTO of Marathon Digital.

NiceHash firmware is compatible with a variety of application-specific integrated circuit (ASIC) mining machine models and ASIC management tools. It works with various algorithms and can switch between them as their efficiency changes. It also adds Kadena's Blake2s algorithm in April, enabling mining of the Kadena (KDA) coin, for example. NiceHash software also offers features such as auto-tuning, temperature control, and a mobile app for offsite ASIC management.

The profitability of crypto mining has been closely watched since the halving event in April, which reduced miners' profits per block by 50%. US presidential candidate Donald Trump has stated that he supports the US crypto mining industry, but some have doubted the sincerity of his pro-crypto statements.

In addition to offering software and mining services, NiceHash operates a hash rate marketplace where ASIC holders can sell their hashing power for any NiceHash-powered coin. While the buyer receives rewards for mining blocks, the seller is paid the average price of all orders in the NiceHash pool, even if the buyer does not mine a block, thus reducing the risk to the seller.

We welcome you to share your comments and thoughts in the comment section below.#blockchain#cryptocurrency #mining

Three executives from one of the largest U.S. cryptocurrency mining companies have launched a nonprofit organization to educate voters about Bitcoin (BTC).

Jayson Browder, senior vice president of government affairs at mining firm Marathon Digital Holdings, stated that they, along with two executives from Riot Platforms and CleanSpark, constitute the board members of the Bitcoin Voter Project. The group is registered as a 501(c)(4) in the United States, Browder said.

Browder stated that the voting project has been "a long time in the making," but that they aim to launch it before the 2024 US presidential election. He said the organization is "neutral" and aims to identify voters who may not be aware of cryptocurrencies such as Bitcoin. Eventually, they planned to support relevant legislation and lawmakers in Congress.

The Marathon executive noted that the project has a budget of around $5 million for research and voter education in phases, but eventually they want to "mobilize these voters to support candidates who support digital assets."

“How we identify potential voters, how we engage with them and how we educate them is our different approach,” Browder said. “Once we educate and identify these voters and engage with us, there is an opportunity to influence political elections like Coinbase and others have done.”

The Bitcoin Voter Project has already been supported by many representatives of crypto advocacy groups such as the Chamber of Digital Commerce and the Texas Blockchain Council. As of June 14, the group reported hundreds of people had signed up.

Do you think this project can increase awareness of cryptocurrencies? We are waiting your comments.#Bitcoin#Cryptocurrency #Election2024

The corporate dispute between crypto miners Riot Platforms and Bitfarms has intensified recently. Riot announced it purchased nearly six million shares for $111 million, increasing its stake in Bitfarms from 9.25% to 13.1%. The move comes a day after Bitfarms suggested a "poison pill" defensive strategy to prevent Riot's stock from rising 15% or more.

This week's Crypto Affairs episode also covers Tether's $1 billion budget for startups, Ripple Labs' new proxy deal, Circle's programmable wallets on Solana, and Fireblocks' partnership with Coinbase.

Tether plans to invest a significant portion of its revenue in technologies such as emerging markets, artificial intelligence (AI) and biotechnology, according to CEO Paolo Ardoino.

Ripple Labs has completed the acquisition of digital asset trustee Standard Custody. This acquisition could be strategic for Ripple's plans to launch a US dollar stablecoin and its goals of tokenizing real-world assets.

Circle is starting to support the Solana blockchain in its Web3 services. This will enable programmable wallets and gas station features.

Fireblocks has expanded its trading services by partnering with Coinbase. It offers ongoing futures and spot trading through the Coinbase International Exchange.

We are waiting your comments.#blockchain#crypto #businessnews

Former Binance CEO Changpeng Zhao (CZ) reportedly owns approximately 64% of the circulating supply of Binance Coin (BNB), i.e. approximately 94 million BNB tokens. According to a forensic analysis by Gray Wolf Analytics and the financial outlet, 80 million BNB tokens were allocated to the Binance founding team, and the company still controls 46 million of these original tokens.

The report also stated that Binance and CZ jointly own 71% of the 147 million BNB in ​​circulation. Zhao's 90% stake in Binance and the value of his crypto assets have made him the 24th richest individual in the world, with an estimated net worth of $61 billion.

BNB is the native token of the Binance exchange and is used for fees and rewards on the Binance platform. The maximum supply of this utility token is 200 million, with over 153 million BNB tokens in circulation in the market.

In 2023, the US Department of Justice (DOJ) announced sanctions against Zhao and Binance and charges for allegedly violating money laundering laws. Zhao, who was CEO at the time, struck a plea deal with U.S. prosecutors.

CZ admitted to violating the Bank Secrecy Act and agreed to step down from his leadership role at Binance; He was replaced by current CEO Richard Teng. The settlement also included a massive fine of $50 million for the former CEO and $4.3 billion for Binance. Additionally, the DOJ appointed Forensic Risk Alliance, an independent consulting firm, to monitor Binance for the next three years.

On April 30, Zhao was sentenced to four months in prison by US federal judge Richard Jones, much less than the three years that US prosecutors recommended for Zhao's role in facilitating alleged sanctions violations and money laundering.

Bitcoin (BTC) price is down 6.5% in the last seven days and is trading 10% below its all-time high of $73,835 reached on March 14. However, the technical setup, positive investor interest and onchain data lead Bitcoin analysts to believe that the trend may undergo a transformation and begin a major uptrend.

Bitcoin price has been fluctuating between $58,000 and $72,000 for more than ten weeks after returning from new all-time highs, according to data from Cointelegraph Markets Pro and TradingView. Analyst Rekt Capital notes that BTC's current price range is retesting an area that formed stiff resistance when BTC reached previous all-time highs.

Market intelligence firm Santiment notes that in response to the market decline over the past few days, Bitcoin investors think it is a good time to enter local dips and buy more BTC. He also notes that Bitcoin's drop below $67,000 on June 13 led to "the second-largest increase in crowd buying interest" in the past two months.

Data from onchain metric analytics firm CryptoQuant shows that BTC's balance on exchanges has fallen 3.6% over the past 30 days, reaching a five-year low of 2,822 million BTC. The decreasing balance of BTC on exchanges indicates that investors may be withdrawing their tokens to their own wallets and have no intention of selling them while waiting for a future price increase.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions. What do you think about this? Leave your comments below.#Bitcoin#Cryptocurrency #Blockchain

New York Attorney General Letitia James announced that they have recovered more than $50 million from the Gemini exchange and that this money will be returned to investors in the exchange's Earn program. The lawsuit, which alleged that Gemini defrauded 230,000 investors - including New York residents - through its Earn program, was filed between Gemini and the attorney general's office in October 2023.

In May, James' office announced a similar deal with Genesis. According to the New York Attorney General, the settlements applied only to Genesis and Gemini, and the case would continue against Digital Currency Group, its CEO Barry Silbert, and former Genesis CEO Soichiro Moro.

The agreement prohibited Gemini from operating any cryptocurrency lending programs in New York state, and James stated that "anyone Gemini deceived will get their money back." Gemini Trust said affected Earn users can expect “100%” of the assets owed to them within seven days.

James' office launched a 2023 lawsuit against former Celsius CEO Alex Mashinsky and KuCoin, kicking off the move against other crypto firms allegedly operating illegally in New York. Mashinsky faces charges in the Southern District of New York and is expected to go to trial in January 2025.

What do you think about this? We are waiting your comments.#blockchain#Gemini #lawsuit

The Bank for International Settlements (BIS) has unveiled its new innovation hub in collaboration with Canada's central bank. The BIS Toronto Innovation Hub will help advance the work of the BIS Innovation Hub and explore the development of new technologies to promote inclusion and efficiency in the financial system.

The center will focus on six priority themes for the BIS: central bank digital currencies (CBDCs), green finance, cybersecurity, open finance, innovation for regulatory and supervisory purposes, and next-generation financial market infrastructures.

The new center will operate in Canada, Latin America and the Caribbean. Bank of Canada Governor Tiff Macklem said collaboration between the center and the central bank, together with the BIS, is important to foster innovation in the region.

On the other hand, BIS Director General Agustín Carstens said that the opening of the center is an "important milestone" in BIS's efforts to build the financial system of the future.

BIS's work on CBDCs and tokenization

On January 23, BIS announced its 2024 work program. Some of the organization's core focuses for the year include the second phase of CBDC privacy testing and the launch of a blockchain-based tokenization project.

On April 3, the BIS announced a major collaboration with the central banks of France, Japan, South Korea, Mexico, Switzerland, the United Kingdom and the United States. The initiative is exploring asset tokenization in the financial system and private institutions.

The initiative, called “Project Agora,” aims to build on the concept of a unified ledger that aims to bridge wholesale central bank funds and tokenized commercial bank deposits.

What are you thinking? Leave your comments below and join the discussion!

Bitcoin (BTC) mining company Bitfarms Ltd. announced its expansion into the United States on June 14, establishing a new site in Sharon, Pennsylvania. According to the company's official press release, Bitfarms has agreed to develop 120 megawatts (MW) of power capacity in the region.

The new site will give Bitfarms access to competitive electricity tariffs and opportunities to “optimize and hedge” energy costs. The expansion is expected to improve Bitfarms' operational footprint, supporting 8 EH/s capacity by 2025 and increasing the company's total power capacity to 648 MW, a 170% increase over current capacity.

Nicolas Bonta, President and Interim CEO of Bitfarms, commented on the expansion: "We are executing on our strategy to cost-effectively expand our operational footprint in the US. [...] This US expansion not only strengthens our position in the industry, but also increases our geographic diversification ."

Alongside Bitfarms' expansion announcement, Riot Platforms, Inc. announced that its share in Bitfarms Ltd. had increased to 14%. Riot's additional 1,432,063 common shares from Bitfarms represent approximately 0.35% of Bitfarms' issued and outstanding shares.

What do you think about these developments? Share your comments with us.#blockchain#Bitfarms#RiotPlatforms#BitcoinMining

Altcoins with market caps under $10 billion may be poised to present "some opportunities" to investors as they have declined since Bitcoin (BTC) made a new high earlier this year. “Since the peak in March of this year, small-cap crypto assets have struggled,” said Jamie Coutts, chief crypto analyst at RealVision.

Bitcoin hit an all-time high of $73,679 on March 13, but fell almost 6% last week to $67,126. "If you think this is a regular mid-term correction that we're experiencing, expect there will be some opportunities in mid- and small-caps once the market settles," Coutts said.

Bitformance's crypto tracking data shows that the top 200 equal-weight index, which weights cryptocurrencies equally regardless of market cap, is down more than 30% versus the Market Cap index, which weights cryptocurrencies by market cap. This decline shows that smaller cryptocurrencies are performing weaker against the larger cryptocurrencies that dominate the market cap index.

Coutts noted that Bitcoin and Ether (ETH) experienced declines of 11% and 5%, respectively, in the same three-month period. He added that Metaverse-related tokens recorded the lowest returns on the index in the last three months, posting a negative return of 44.13%.

At a time when institutional interest beyond Bitcoin and Ether continues to grow, Franklin Templeton said he is exploring a new crypto fund to provide institutional investors with exposure to altcoins. He did not specify which altcoins would make up the fund's basket, but he recently praised the Solana network.

This article does not contain investment advice or recommendations; every investment and trading move involves risk and readers should do their own research when making decisions. What are you thinking? Leave your comments below.#crypto#altcoin#bitcoin#ether #investment

An investor claims he lost $310,000 to a fake crypto trading platform, which he allegedly learned about through an unsolicited connection request on LinkedIn. A consumer alert filed June 13 by the Securities Division of the Washington State Department of Financial Institutions (DFI) stated that the investor used a crypto trading platform called “Ethfinance.”

The investor transferred a total of $310,000 from his “DeFi wallet” to the platform in the hope of making a profit from crypto trading. However, when it tried to withdraw some of its initial capital and reported profits, it was told that the investor would need to add more funds to complete the “smart contract” and then withdraw the funds.

DFI stated that this may be a "Prepayment Scam" but did not confirm the claims. Advance payment fraud is a type of fraud that promises victims a significant amount of money, products, or services in exchange for a small upfront payment.

Washington DFI's crypto fraud tracker shows that the platform was also mentioned in a previous complaint. One person in California reported losing over $165,000 after meeting a stranger online offering to learn how to trade crypto options.

Washington DFI issued three more warnings on June 13. Two were for alleged fake crypto exchanges and the other was for a fake investment management platform. What are you thinking? Share your comments with us.

“Ether (ETH) had one of its biggest days for long-term holder accumulation — it appears to be benefiting from a 2% price drop in 24 hours. CryptoQuant head of research Julio Moreno reported that 298,000 Ether tokens were traded by accumulation addresses during a 24-hour period on June 12.” This amount corresponds to approximately 1.34 billion dollars at the time of publication.

This increase in demand comes amidst Ether's 8.49% price decline over the past seven days. Ether, which first fell below $3,800 on June 8, failed to bounce back but remained above $3,400 throughout the period, according to CoinMarketCap data.

Meanwhile, the Chairman of the US Securities and Exchange Commission (SEC) stated that spot Ether exchange-traded funds (ETFs) could receive final approval for trading by the end of September.

What do you think about this? Leave your comments below."

Note: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.