Author: Ava Patel

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Ava Patel

Ava Patel's expertise lies in creating engaging and informative content about the latest trends and opportunities in the crypto space. Her writing is known for its clarity, accuracy, and ability to convey complex concepts in a way that is accessible to both novice and advanced readers.

Articles by Ava Patel

NFT platform MINCL

South Korea’s KT Corp shuts down NFT platform MINCL

3 months ago 1 min read

KT Corporation, South Korea’s telecommunications giant, has decided to close its NFT platform, MINCL, citing changing business conditions as the primary reason. This move is consistent with a larger trend in the region, in which several companies are reconsidering their participation in Web3 projects. MINCL users are urged to transfer their NFTs to alternative e-wallets before the platform is shut down on March 4. MINCL, which launched in April 2022, offered users NFT services such as non-fungible token creation and trading. KT Corporation has yet to provide detailed comments on the closure of MINCL or the specific factors that influenced

Mt. Gox Takes Steps to Repay Creditors: Verification Process Begins

Mt. Gox starts verifying creditor identities to repay lost 200k Bitcoin from the 2014 hack

3 months ago 1 min read

Mt. Gox, a once-prominent crypto exchange, has begun the process of verifying creditor identities as part of its ongoing effort to repay losses caused by a major hack in 2014. Creditors are now receiving emails requesting identity confirmation, which is a critical step in recovering lost Bitcoin and Bitcoin Cash. Creditors recently reported receiving emails from Mt. Gox urging them to verify the identity associated with their Mt. Gox accounts. This verification process is required before reclaiming the Bitcoin (BTC) and Bitcoin Cash (BCH) stolen during the infamous 2014 hack. A detailed email shared on the Mt. Gox discussion forum

Over $2 billion in shares of Grayscale Bitcoin Trust (GBTC) have been sold since its conversion to an ETF

Over $2 billion in shares of Grayscale Bitcoin Trust (GBTC) have been sold since its conversion to an ETF

3 months ago 1 min read

Investors have sold over $2 billion in shares of Grayscale Bitcoin Trust (GBTC) since its conversion to an exchange-traded fund (ETF). Concurrently, FTX’s bankruptcy estate completed a large sale of 22 million shares, accounting for a significant portion of the $2 billion in sales. GBTC has nearly $30 billion in assets after a decade of operations. However, its conversion to an ETF marked a watershed moment, resulting in increased competition from newly launched funds by financial behemoths such as BlackRock and Fidelity. Unlike its competitors, GBTC saw a significant withdrawal of investments, which many attributed to the trust’s relatively high

Grayscale Bitcoin Trust (GBTC) has experienced outflows totaling over $2 billion in five trading days.

Grayscale Bitcoin Trust (GBTC) Sees Over $2 Billion Outflows in Just 5 Days Amid ETF Landscape Shift

3 months ago 1 min read

According to recent data, Grayscale Bitcoin Trust (GBTC) has experienced outflows totaling over $2 billion in five trading days. Bloomberg ETF analyst Eric Balchunas reported the news, highlighting a significant shift in investor sentiment toward spot Bitcoin exchange-traded funds (ETFs). Furthermore, Grayscale Investments CEO Michael Sonnenshein said he was not surprised by the GBTC outflows. In an interview with Bloomberg, he emphasized that the company is more concerned with trading volumes. Sonnenshein defended GBTC’s 1.5% management fee, stating that it is reasonable given Grayscale’s “size, liquidity, and track record.” The increased outflows from GBTC do not necessarily indicate a decrease

Ethereum (ETH) has fallen 4.39% over the last week

Ethereum Drops Below $2,500; What’s Next?

4 months ago 1 min read

Ethereum (ETH) is at a critical juncture as it deals with resistance levels and volatile market shifts. ETH has fallen 5% over the last week, trading at $2,462, with a 2.38% drop in the last 24 hours. Ethereum’s recent struggles to surpass the $2,580 level reflect the broader sentiment post-Bitcoin ETFs, in which negative market sentiment has impacted both BTC and ETH. The bearish trend continues as ETH remains below the $2,500 threshold and the 100-hourly simple moving average. Despite an over 13.5% increase in daily trading volume, bears maintain their influence. Despite recent struggles, Ethereum has shown a bullish

SBF's Parents Seek Dismissal of Lawsuit, Reject Fraud Allegations

SBF’s Parents Request Dismissal of their Lawsuit, Denying Involvement in any Fraud or Bad Management

4 months ago 1 min read

The parents of former FTX CEO Sam Bankman-Fried (SBF) have categorically denied any involvement in fraud or mismanagement within the FTX organization. The lawsuit, filed in September 2023, accused SBF of misusing funds and directing donations for personal gain, prompting a strong defense from his parents. SBF’s parents, represented by a lawyer, emphasized their lack of executive positions at FTX and Alameda Research, the two companies at the center of the controversy. The defense argued that SBF’s parents cannot be held liable for their son’s actions as FTX CEO, pointing out that the lawsuit only addresses limited company interactions. One

Over $147 billion worth of Ripple (XRP) coins were transferred to crypto exchanges

4 months ago 1 min read

Whale Alert, a vigilant tracker of significant crypto transactions, raised the alarm, claiming an astronomical transfer of over $147 billion in Ripple (XRP) coins to crypto behemoths Binance and Bitfinex. But before we get into the sensational figure, let’s unpack the mystery behind this attention-grabbing headline. The reported transfer immediately raised eyebrows in the crypto community because Ripple’s (XRP) total circulating supply is set at 54 billion XRP. The numbers simply didn’t add up, necessitating a closer look at the situation. Bitfinex CEO Paolo Ardoino quickly addressed the situation, shedding light on what occurred. Bitfinex, according to Ardoino, was the

South Korea has maintained its ban on crypto ETFs,

South Korea Holds Firm on Crypto Investment Ban for Financial Stability Despite US Bitcoin ETF Approval

4 months ago 1 min read

Following the approval of a Bitcoin Spot ETF by the US on January 10th, South Korea has maintained its ban on crypto ETFs, citing concerns about financial stability and investor protection, according to local media reports. While the United States embraces the new era of Bitcoin Spot ETFs, South Korea’s financial regulator remains committed to existing rules that limit the inclusion of crypto in the ETF landscape. The decision reflects the country’s cautious approach to the evolving crypto landscape, which is rooted in the goal of maintaining financial stability. South Korean law currently restricts ETFs to traditional financial instruments and

Turkey to complete its crypto regulation framework

Turkey to complete its crypto regulation framework

4 months ago 2 mins read

According to Finance Minister Mehmet Simsek, Turkey is taking a significant step toward solidifying its stance on crypto regulations. According to Simsek, the country’s crypto regulations are in the “final stages,” indicating an important step toward creating a regulated environment for crypto asset trading platforms in Turkey. The primary goal of these upcoming regulations is to reduce the risks associated with trading in crypto assets and, more importantly, to facilitate Turkey’s removal from the Financial Action Task Force’s (FATF) “grey list.” This list identifies countries with insufficient anti-money laundering and terrorist financing measures. In his statement, Simsek emphasized the country’s

A mysterious Ethereum whale made a significant transaction

A crypto whale buys 4,677 Ethereum valued at around $11 million as ETH surpasses $2,500

4 months ago 1 min read

According to Lookonchain, a mysterious crypto whale made waves in the Ethereum market by executing a significant transaction, acquiring a whopping 4,677 Ethereum valued at around $11 million. What makes this acquisition so intriguing is the whale’s bold bullish stance on Ethereum’s future, combined with a seemingly bearish sentiment towards Bitcoin, as analyzed by Lookonchain. The whale’s unconventional strategy involved exchanging 241 wrapped Bitcoins (WBTC) borrowed from Aave for a significant amount of Ethereum. The motivations behind this strategic maneuver are currently unknown, sparking speculation within the crypto community about the whale’s foresight and potential market impact. According to recent

the US SEC official Twitter account recently announced the approval of a Bitcoin Exchange-Traded Fund (ETF) listing

SEC’s X Page Hacked with False Bitcoin ETF Approval; Chairman Gensler Denies Claim

4 months ago 1 min read

In an unexpected turn of events, the US Securities and Exchange Commission’s (SEC) official Twitter account recently announced the approval of a Bitcoin Exchange-Traded Fund (ETF) listing on all registered national securities exchanges. The official X (formerly Twitter) page tweeted, “Today, the SEC grants approval for Bitcoin ETFs listing on all registered national securities exchanges.” Crypto enthusiasts and investors reacted positively to the news, hailing it as a significant development for the cryptocurrency market. The excitement, however, was short-lived, as SEC Chairman Gary Gensler posted a clarification on X minutes later, claiming that the SEC’s Twitter page had been compromised.

Scott Melker, a crypto analyst, has highlighted a significant influx into Bitcoin following the approval of a BTC Spot Exchange-Traded Fund (ETF).

Over $550 billion could flow into crypto market, says analyst

4 months ago 1 min read

Scott Melker, a crypto analyst, has highlighted a significant influx into Bitcoin following the approval of a BTC Spot Exchange-Traded Fund (ETF). Melker projected $550 billion in Bitcoin ETF investment in a social media post on X (formerly Twitter), representing only 0.5% of total assets managed by Registered Investment Advisors (RIAs). Melker stated that RIAs currently manage assets worth $114 trillion, and Bitcoin’s total market capitalization is $860 billion. According to the post, if even half of RIA-managed assets were to flow into a Bitcoin ETF, the total amount could be around $570 billion. Some cryptocurrency analysts, including Bloomberg Intelligence’s

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