Top Stories This Week<\/strong><\/h2>\nThe decentralized finance (DeFi) ecosystem experienced a challenging week<\/a> after a seismic security incident led to over $61 million being stolen from Curve Finance\u2019s pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days, hammering the performance of tokens and even stablecoins as a result of the dramatic ups and downs in this story. As the community navigates the aftermath of this exploit, Cointelegraph compiled the week\u2019s events, presenting a timeline of what happened since the hack on July 30.<\/p>\nUS DoJ is concerned about a run on Binance should prosecutors bring fraud charges<\/strong><\/h2>\nThe United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud<\/a>, but hesitating based on costs to consumers. According to people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run similar to what happened with FTX in November 2022. The officials are considering fines or non-prosecution agreements for Binance rather than criminal charges in an effort to reduce the harm to consumers. Binance has been targeted by a criminal probe<\/a> in the U.S. for allegedly violating the country\u2019s sanctions on Russia and has also faced lawsuits from U.S. regulators.<\/p>\nHong Kong debuts retail crypto trading with HashKey and OSL<\/strong><\/h2>\nDigital asset firm HashKey has successfully obtained all necessary licensing<\/a> to broaden its business from serving professional investors to taking on retail users, as Hong Kong expands its cryptocurrency trading to individual investors. The first license, Type 1, allows HashKey to operate a virtual asset trading platform under Hong Kong\u2019s securities laws. The second one, Type 7, officially enables the firm to provide automated trading services to both institutional and retail users. OSL, another local crypto firm, received an upgrade to its existing license from Hong Kong\u2019s Securities and Futures Commission, allowing it to offer Bitcoin (BTC) and Ether (ETH) trading to retail investors immediately.<\/p>\n\n
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<\/a><\/div>\n<\/section>\nCoinbase denies SEC told it to delist everything but Bitcoin<\/strong><\/strong><\/h2>\nCoinbase has denied reports claiming that its CEO<\/a>, Brian Armstrong, was once told by the U.S. Securities and Exchange Commission to delist all cryptocurrencies on its platform except for Bitcoin. In an interview with the Financial Times, Armstrong reportedly stated that the SEC wanted Coinbase to delist the nearly 250 tokens on its platform. According to a Coinbase spokesperson, however, the report is missing context and the SEC didn\u2019t request Coinbase to delist any specific assets. SEC Chair Gary Gensler has previously claimed that \u201ceverything other than Bitcoin\u201d is a security under the agency\u2019s remit.<\/p>\nEthereum\u2019s 8th birthday: Crypto industry shares its top moments<\/strong><\/h2>\nThe crypto community has come together to celebrate the birthday of the Ethereum network<\/a>, marking eight years since the Ethereum Foundation first sent the network live.<\/p>\nOn July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. \u201cThe vision of a censorship-proof \u2018world computer\u2019 that anyone can program, paying exclusively for what they use and nothing more, is now a reality,\u201d he wrote. Eight years later, Ethereum and its native currency, Ether (ETH), has grown to become the second-largest crypto asset in existence, boasting a market capitalization of $225 billion and more than 1,900 monthly active developers.<\/p>\n![\"\"](\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/08\/Mike-Novogratz-4-1024x682.png\")
<\/figure>\nWinners and Losers<\/strong><\/h2>\n![\"\"](\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/08\/WL-aug-5-01-1024x826.jpg\")
<\/figure>\nAt the end of the week, Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> is at $28,985<\/strong>, Ether (<\/strong>ETH<\/strong><\/a>)<\/strong> at $1,823<\/strong> and XRP<\/strong><\/a> at $0.63<\/strong>. The total market cap is at $1.16<\/strong> trillion, according<\/a> to CoinMarketCap.<\/p>\nAmong the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Helium (HNT)<\/strong> at 39.79%, XDC Network (XDC) <\/strong>at 20.11% and Bone ShibaSwap (BONE)<\/strong> at 18.04%.\u00a0<\/p>\nThe top three altcoin losers of the week are Compound (COMP) <\/strong>at -18.41%, Curve DAO Token (CRV) <\/strong>at -15.86% and Stellar (XLM) <\/strong>at -14.36%.<\/p>\nFor more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/p>\n\nRead also<\/p>\n
\n\n
\n Features<\/span><\/p>\nBlockchain fail-safes in space: SpaceChain, Blockstream and Cryptosat<\/p>\n
<\/a>\n <\/div>\n
\n
\n Features<\/span><\/p>\nCrypto winter can take a toll on hodlers\u2019 mental health<\/p>\n
<\/a>\n <\/div>\n<\/div>\n<\/div>\n
Most Memorable Quotations<\/strong>
<\/h2>\n\n\u201cThe digital asset products and services that TASE is exploring will no doubt play foundational roles in the future of Israel\u2019s economy.\u201d<\/p>\n<\/blockquote>\n
Michael Shaulov<\/strong><\/a>, CEO of Fireblocks<\/strong><\/p>\n\n\u201cSpot [Bitcoin] ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.\u201d<\/p>\n<\/blockquote>\n
Michael Saylor<\/strong><\/a>, CEO of Microstrategy<\/strong><\/p>\n\n\u201cGenerative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage.\u201d<\/p>\n<\/blockquote>\n
Goldman Sachs<\/strong><\/a><\/p>\n\n\u201cI personally have not seen any audit reports of USDT. I don\u2019t think most people I spoke to have not seen that either. So it\u2019s kind of a black box because we just don\u2019t know.\u201d<\/p>\n<\/blockquote>\n
Changpeng \u201cCZ\u201d Zhao<\/strong><\/a>, CEO of Binance<\/strong><\/p>\n\n\u201cAs president, on day one, CBDC goes into the trash can \u2014 we\u2019re not going to allow it.\u201d<\/p>\n<\/blockquote>\n
Ron DeSantis<\/strong><\/a>, governor of Florida<\/strong><\/p>\n\n\u201cThe most important thing that happened this year in Bitcoin is Larry Fink.\u201d<\/p>\n<\/blockquote>\n
Mike Novogratz<\/strong><\/a>, CEO of Galaxy Digital<\/strong><\/p>\nPrediction of the Week\u00a0<\/strong><\/h2>\nBTC price upside \u2018yet to come\u2019 at $29K after Bitcoin RSI reset \u2014 Trader<\/strong><\/strong><\/strong><\/p>\nBitcoin has not yet seen the majority of its gains this cycle<\/a>, popular traders believe. After over a month of acting within a tight trading range, traders\u2019 patience with Bitcoin is wearing thin, but amid expectations that BTC price will test levels closer to $25,000 or even lower, pseudonymous analyst Credible Crypto is one of those arguing the opposite.<\/p>\nAnalyzing data, including Bitcoin market cap dominance and its relative strength index (RSI), he concluded that conditions had been reset. \u201cBiggest upside moves on BTC are YET TO COME,\u201d he summarized, before adding that:<\/p>\n
\u201cA month of sideways action on BTC and dominance has simply made a higher low. H12 bullish div confirmed, RSI on higher TF looks reset, maintaining above the \u2018magic\u2019 40 RSI level, who\u2019s ready for the next leg up?\u201d<\/p>\n
Continuing, fellow pseudonymous trader CryptoCon flagged RSI over longer timeframes to deliver a similarly bullish take on BTC price performance:<\/p>\n
\u201cI see price going sideways, and I\u2019ve never been more bullish! Just wait until we break into phase 2 on the 3 Week RSI\u2026 Early bull market price action, period.\u201d<\/p>\n
FUD of the Week\u00a0<\/strong><\/h2>\n![\"\"](\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/08\/Michael-Saylor-1-1024x682.png\")
<\/figure>\n<\/h3>\nIs SBF secretly behind BALD? Crypto Twitter debates latest conspiracy<\/strong><\/h2>\nCrypto Twitter has been abuzz with debate after a new conspiracy theory has suggested FTX founder Sam \u201cSBF\u201d Bankman-Fried may be secretly<\/a> behind one of the most controversial new memecoins on Base. The Bald memecoin was launched on July 30 and witnessed an incredible 289,000% gain within the first 24 hours of trading. After the token\u2019s anonymous developer removed thousands of ETH in liquidity, the price of Bald plummeted more than 85% \u2014 sparking allegations of a rug pull, which the developer has denied<\/a>. The incident led a number of blockchain sleuths to dig into the developer\u2019s on-chain past, prompting some to draw a link to SBF as the Ethereum wallet address responsible for deploying the Bald token, which had received thousands of ETH in funding from wallets associated with FTX and Alameda Research.<\/p>\nIndividual charged with money laundering admits to hacking Bitfinex in 2016<\/strong><\/h2>\nIlya Lichtenstein admitted to a U.S. court<\/a> that he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 which resulted in the theft of roughly 119,754 Bitcoin. Lichtenstein spoke as part of a plea agreement with prosecutors, who charged him and his wife Heather Morgan with money laundering conspiracy and conspiracy to defraud the United States. The couple allegedly laundered more than 94,643 BTC from the Bitfinex hack \u2014 worth roughly $54 million at the time.<\/p>\nUsers said CertiK\u2019s warning was a false alarm \u2014 then the project rugged<\/strong><\/h2>\nBlockchain security firm Certik tried, in 2022, to warn users of an imminent rug pull<\/a> surrounding a crypto project, but investors became angry and fired back. The firm rescinded the security alert. Then, the project pulled the plug. This is the story behind the Web3 gaming project \u201cCrypto Cars.\u201d At the time, the project\u2019s native token was rapidly falling in price, its website was temporarily down, and its developers said that it would no longer respond on its Telegram due to the Lunar New Year holiday celebrated in Vietnam. The situation triggered Certik\u2019s alert, but when Cointelegraph attempted to follow up with the project on Aug. 1, 2023, it had long ago shut its doors.<\/p>\nBest Cointelegraph Features<\/strong><\/h2>\n![\"\"](\"https:\/\/cointelegraph.com\/magazine\/wp-content\/uploads\/2023\/08\/Ron-DeSantis-1024x682.png\")
<\/figure>\nDeposit risk: What do crypto exchanges really do with your money?<\/strong><\/strong><\/h2>\nWhile depositing may be easy<\/a>, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.<\/p>\nFacebook\u2019s parent company lost over $40 billion in metaverse<\/a>, text-based Discord RPG uses AI and NFTs, Web3 gets new eSports platform, and more.<\/p>\nGirl Gone Crypto thinks \u2018BREAKING\u2019 crypto news tweets are boring: Hall of Flame<\/strong><\/strong><\/h2>\n
US DoJ is concerned about a run on Binance should prosecutors bring fraud charges<\/strong><\/h2>\nThe United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud<\/a>, but hesitating based on costs to consumers. According to people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run similar to what happened with FTX in November 2022. The officials are considering fines or non-prosecution agreements for Binance rather than criminal charges in an effort to reduce the harm to consumers. Binance has been targeted by a criminal probe<\/a> in the U.S. for allegedly violating the country\u2019s sanctions on Russia and has also faced lawsuits from U.S. regulators.<\/p>\nHong Kong debuts retail crypto trading with HashKey and OSL<\/strong><\/h2>\nDigital asset firm HashKey has successfully obtained all necessary licensing<\/a> to broaden its business from serving professional investors to taking on retail users, as Hong Kong expands its cryptocurrency trading to individual investors. The first license, Type 1, allows HashKey to operate a virtual asset trading platform under Hong Kong\u2019s securities laws. The second one, Type 7, officially enables the firm to provide automated trading services to both institutional and retail users. OSL, another local crypto firm, received an upgrade to its existing license from Hong Kong\u2019s Securities and Futures Commission, allowing it to offer Bitcoin (BTC) and Ether (ETH) trading to retail investors immediately.<\/p>\n\n
\n<\/a><\/div>\n<\/section>\n\n
\n<\/a><\/div>\n<\/section>\nCoinbase denies SEC told it to delist everything but Bitcoin<\/strong><\/strong><\/h2>\nCoinbase has denied reports claiming that its CEO<\/a>, Brian Armstrong, was once told by the U.S. Securities and Exchange Commission to delist all cryptocurrencies on its platform except for Bitcoin. In an interview with the Financial Times, Armstrong reportedly stated that the SEC wanted Coinbase to delist the nearly 250 tokens on its platform. According to a Coinbase spokesperson, however, the report is missing context and the SEC didn\u2019t request Coinbase to delist any specific assets. SEC Chair Gary Gensler has previously claimed that \u201ceverything other than Bitcoin\u201d is a security under the agency\u2019s remit.<\/p>\nEthereum\u2019s 8th birthday: Crypto industry shares its top moments<\/strong><\/h2>\nThe crypto community has come together to celebrate the birthday of the Ethereum network<\/a>, marking eight years since the Ethereum Foundation first sent the network live.<\/p>\nOn July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. \u201cThe vision of a censorship-proof \u2018world computer\u2019 that anyone can program, paying exclusively for what they use and nothing more, is now a reality,\u201d he wrote. Eight years later, Ethereum and its native currency, Ether (ETH), has grown to become the second-largest crypto asset in existence, boasting a market capitalization of $225 billion and more than 1,900 monthly active developers.<\/p>\n<\/figure>\nWinners and Losers<\/strong><\/h2>\n<\/figure>\nAt the end of the week, Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> is at $28,985<\/strong>, Ether (<\/strong>ETH<\/strong><\/a>)<\/strong> at $1,823<\/strong> and XRP<\/strong><\/a> at $0.63<\/strong>. The total market cap is at $1.16<\/strong> trillion, according<\/a> to CoinMarketCap.<\/p>\nAmong the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Helium (HNT)<\/strong> at 39.79%, XDC Network (XDC) <\/strong>at 20.11% and Bone ShibaSwap (BONE)<\/strong> at 18.04%.\u00a0<\/p>\nThe top three altcoin losers of the week are Compound (COMP) <\/strong>at -18.41%, Curve DAO Token (CRV) <\/strong>at -15.86% and Stellar (XLM) <\/strong>at -14.36%.<\/p>\nFor more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/p>\n\nRead also<\/p>\n
\n\n
\n Features<\/span><\/p>\nBlockchain fail-safes in space: SpaceChain, Blockstream and Cryptosat<\/p>\n
<\/a>\n <\/div>\n
\n
\n Features<\/span><\/p>\nCrypto winter can take a toll on hodlers\u2019 mental health<\/p>\n
<\/a>\n <\/div>\n<\/div>\n<\/div>\n
Most Memorable Quotations<\/strong>
<\/h2>\n\n\u201cThe digital asset products and services that TASE is exploring will no doubt play foundational roles in the future of Israel\u2019s economy.\u201d<\/p>\n<\/blockquote>\n
Michael Shaulov<\/strong><\/a>, CEO of Fireblocks<\/strong><\/p>\n\n\u201cSpot [Bitcoin] ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.\u201d<\/p>\n<\/blockquote>\n
Michael Saylor<\/strong><\/a>, CEO of Microstrategy<\/strong><\/p>\n\n\u201cGenerative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage.\u201d<\/p>\n<\/blockquote>\n
Goldman Sachs<\/strong><\/a><\/p>\n\n\u201cI personally have not seen any audit reports of USDT. I don\u2019t think most people I spoke to have not seen that either. So it\u2019s kind of a black box because we just don\u2019t know.\u201d<\/p>\n<\/blockquote>\n
Changpeng \u201cCZ\u201d Zhao<\/strong><\/a>, CEO of Binance<\/strong><\/p>\n\n\u201cAs president, on day one, CBDC goes into the trash can \u2014 we\u2019re not going to allow it.\u201d<\/p>\n<\/blockquote>\n
Ron DeSantis<\/strong><\/a>, governor of Florida<\/strong><\/p>\n\n\u201cThe most important thing that happened this year in Bitcoin is Larry Fink.\u201d<\/p>\n<\/blockquote>\n
Mike Novogratz<\/strong><\/a>, CEO of Galaxy Digital<\/strong><\/p>\nPrediction of the Week\u00a0<\/strong><\/h2>\nBTC price upside \u2018yet to come\u2019 at $29K after Bitcoin RSI reset \u2014 Trader<\/strong><\/strong><\/strong><\/p>\nBitcoin has not yet seen the majority of its gains this cycle<\/a>, popular traders believe. After over a month of acting within a tight trading range, traders\u2019 patience with Bitcoin is wearing thin, but amid expectations that BTC price will test levels closer to $25,000 or even lower, pseudonymous analyst Credible Crypto is one of those arguing the opposite.<\/p>\nAnalyzing data, including Bitcoin market cap dominance and its relative strength index (RSI), he concluded that conditions had been reset. \u201cBiggest upside moves on BTC are YET TO COME,\u201d he summarized, before adding that:<\/p>\n
\u201cA month of sideways action on BTC and dominance has simply made a higher low. H12 bullish div confirmed, RSI on higher TF looks reset, maintaining above the \u2018magic\u2019 40 RSI level, who\u2019s ready for the next leg up?\u201d<\/p>\n
Continuing, fellow pseudonymous trader CryptoCon flagged RSI over longer timeframes to deliver a similarly bullish take on BTC price performance:<\/p>\n
\u201cI see price going sideways, and I\u2019ve never been more bullish! Just wait until we break into phase 2 on the 3 Week RSI\u2026 Early bull market price action, period.\u201d<\/p>\n
FUD of the Week\u00a0<\/strong><\/h2>\n<\/figure>\n<\/h3>\nIs SBF secretly behind BALD? Crypto Twitter debates latest conspiracy<\/strong><\/h2>\nCrypto Twitter has been abuzz with debate after a new conspiracy theory has suggested FTX founder Sam \u201cSBF\u201d Bankman-Fried may be secretly<\/a> behind one of the most controversial new memecoins on Base. The Bald memecoin was launched on July 30 and witnessed an incredible 289,000% gain within the first 24 hours of trading. After the token\u2019s anonymous developer removed thousands of ETH in liquidity, the price of Bald plummeted more than 85% \u2014 sparking allegations of a rug pull, which the developer has denied<\/a>. The incident led a number of blockchain sleuths to dig into the developer\u2019s on-chain past, prompting some to draw a link to SBF as the Ethereum wallet address responsible for deploying the Bald token, which had received thousands of ETH in funding from wallets associated with FTX and Alameda Research.<\/p>\nIndividual charged with money laundering admits to hacking Bitfinex in 2016<\/strong><\/h2>\nIlya Lichtenstein admitted to a U.S. court<\/a> that he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 which resulted in the theft of roughly 119,754 Bitcoin. Lichtenstein spoke as part of a plea agreement with prosecutors, who charged him and his wife Heather Morgan with money laundering conspiracy and conspiracy to defraud the United States. The couple allegedly laundered more than 94,643 BTC from the Bitfinex hack \u2014 worth roughly $54 million at the time.<\/p>\nUsers said CertiK\u2019s warning was a false alarm \u2014 then the project rugged<\/strong><\/h2>\nBlockchain security firm Certik tried, in 2022, to warn users of an imminent rug pull<\/a> surrounding a crypto project, but investors became angry and fired back. The firm rescinded the security alert. Then, the project pulled the plug. This is the story behind the Web3 gaming project \u201cCrypto Cars.\u201d At the time, the project\u2019s native token was rapidly falling in price, its website was temporarily down, and its developers said that it would no longer respond on its Telegram due to the Lunar New Year holiday celebrated in Vietnam. The situation triggered Certik\u2019s alert, but when Cointelegraph attempted to follow up with the project on Aug. 1, 2023, it had long ago shut its doors.<\/p>\nBest Cointelegraph Features<\/strong><\/h2>\n<\/figure>\nDeposit risk: What do crypto exchanges really do with your money?<\/strong><\/strong><\/h2>\nWhile depositing may be easy<\/a>, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.<\/p>\nFacebook\u2019s parent company lost over $40 billion in metaverse<\/a>, text-based Discord RPG uses AI and NFTs, Web3 gets new eSports platform, and more.<\/p>\nGirl Gone Crypto thinks \u2018BREAKING\u2019 crypto news tweets are boring: Hall of Flame<\/strong><\/strong><\/h2>\n
Hong Kong debuts retail crypto trading with HashKey and OSL<\/strong><\/h2>\nDigital asset firm HashKey has successfully obtained all necessary licensing<\/a> to broaden its business from serving professional investors to taking on retail users, as Hong Kong expands its cryptocurrency trading to individual investors. The first license, Type 1, allows HashKey to operate a virtual asset trading platform under Hong Kong\u2019s securities laws. The second one, Type 7, officially enables the firm to provide automated trading services to both institutional and retail users. OSL, another local crypto firm, received an upgrade to its existing license from Hong Kong\u2019s Securities and Futures Commission, allowing it to offer Bitcoin (BTC) and Ether (ETH) trading to retail investors immediately.<\/p>\n\n
\n<\/a><\/div>\n<\/section>\n\n
\n<\/a><\/div>\n<\/section>\nCoinbase denies SEC told it to delist everything but Bitcoin<\/strong><\/strong><\/h2>\nCoinbase has denied reports claiming that its CEO<\/a>, Brian Armstrong, was once told by the U.S. Securities and Exchange Commission to delist all cryptocurrencies on its platform except for Bitcoin. In an interview with the Financial Times, Armstrong reportedly stated that the SEC wanted Coinbase to delist the nearly 250 tokens on its platform. According to a Coinbase spokesperson, however, the report is missing context and the SEC didn\u2019t request Coinbase to delist any specific assets. SEC Chair Gary Gensler has previously claimed that \u201ceverything other than Bitcoin\u201d is a security under the agency\u2019s remit.<\/p>\nEthereum\u2019s 8th birthday: Crypto industry shares its top moments<\/strong><\/h2>\nThe crypto community has come together to celebrate the birthday of the Ethereum network<\/a>, marking eight years since the Ethereum Foundation first sent the network live.<\/p>\nOn July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. \u201cThe vision of a censorship-proof \u2018world computer\u2019 that anyone can program, paying exclusively for what they use and nothing more, is now a reality,\u201d he wrote. Eight years later, Ethereum and its native currency, Ether (ETH), has grown to become the second-largest crypto asset in existence, boasting a market capitalization of $225 billion and more than 1,900 monthly active developers.<\/p>\n<\/figure>\nWinners and Losers<\/strong><\/h2>\n<\/figure>\nAt the end of the week, Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> is at $28,985<\/strong>, Ether (<\/strong>ETH<\/strong><\/a>)<\/strong> at $1,823<\/strong> and XRP<\/strong><\/a> at $0.63<\/strong>. The total market cap is at $1.16<\/strong> trillion, according<\/a> to CoinMarketCap.<\/p>\nAmong the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Helium (HNT)<\/strong> at 39.79%, XDC Network (XDC) <\/strong>at 20.11% and Bone ShibaSwap (BONE)<\/strong> at 18.04%.\u00a0<\/p>\nThe top three altcoin losers of the week are Compound (COMP) <\/strong>at -18.41%, Curve DAO Token (CRV) <\/strong>at -15.86% and Stellar (XLM) <\/strong>at -14.36%.<\/p>\nFor more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/p>\n\nRead also<\/p>\n
\n\n
\n Features<\/span><\/p>\nBlockchain fail-safes in space: SpaceChain, Blockstream and Cryptosat<\/p>\n
<\/a>\n <\/div>\n
\n
\n Features<\/span><\/p>\nCrypto winter can take a toll on hodlers\u2019 mental health<\/p>\n
<\/a>\n <\/div>\n<\/div>\n<\/div>\n
Most Memorable Quotations<\/strong>
<\/h2>\n\n\u201cThe digital asset products and services that TASE is exploring will no doubt play foundational roles in the future of Israel\u2019s economy.\u201d<\/p>\n<\/blockquote>\n
Michael Shaulov<\/strong><\/a>, CEO of Fireblocks<\/strong><\/p>\n\n\u201cSpot [Bitcoin] ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.\u201d<\/p>\n<\/blockquote>\n
Michael Saylor<\/strong><\/a>, CEO of Microstrategy<\/strong><\/p>\n\n\u201cGenerative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage.\u201d<\/p>\n<\/blockquote>\n
Goldman Sachs<\/strong><\/a><\/p>\n\n\u201cI personally have not seen any audit reports of USDT. I don\u2019t think most people I spoke to have not seen that either. So it\u2019s kind of a black box because we just don\u2019t know.\u201d<\/p>\n<\/blockquote>\n
Changpeng \u201cCZ\u201d Zhao<\/strong><\/a>, CEO of Binance<\/strong><\/p>\n\n\u201cAs president, on day one, CBDC goes into the trash can \u2014 we\u2019re not going to allow it.\u201d<\/p>\n<\/blockquote>\n
Ron DeSantis<\/strong><\/a>, governor of Florida<\/strong><\/p>\n\n\u201cThe most important thing that happened this year in Bitcoin is Larry Fink.\u201d<\/p>\n<\/blockquote>\n
Mike Novogratz<\/strong><\/a>, CEO of Galaxy Digital<\/strong><\/p>\nPrediction of the Week\u00a0<\/strong><\/h2>\nBTC price upside \u2018yet to come\u2019 at $29K after Bitcoin RSI reset \u2014 Trader<\/strong><\/strong><\/strong><\/p>\nBitcoin has not yet seen the majority of its gains this cycle<\/a>, popular traders believe. After over a month of acting within a tight trading range, traders\u2019 patience with Bitcoin is wearing thin, but amid expectations that BTC price will test levels closer to $25,000 or even lower, pseudonymous analyst Credible Crypto is one of those arguing the opposite.<\/p>\nAnalyzing data, including Bitcoin market cap dominance and its relative strength index (RSI), he concluded that conditions had been reset. \u201cBiggest upside moves on BTC are YET TO COME,\u201d he summarized, before adding that:<\/p>\n
\u201cA month of sideways action on BTC and dominance has simply made a higher low. H12 bullish div confirmed, RSI on higher TF looks reset, maintaining above the \u2018magic\u2019 40 RSI level, who\u2019s ready for the next leg up?\u201d<\/p>\n
Continuing, fellow pseudonymous trader CryptoCon flagged RSI over longer timeframes to deliver a similarly bullish take on BTC price performance:<\/p>\n
\u201cI see price going sideways, and I\u2019ve never been more bullish! Just wait until we break into phase 2 on the 3 Week RSI\u2026 Early bull market price action, period.\u201d<\/p>\n
FUD of the Week\u00a0<\/strong><\/h2>\n<\/figure>\n<\/h3>\nIs SBF secretly behind BALD? Crypto Twitter debates latest conspiracy<\/strong><\/h2>\nCrypto Twitter has been abuzz with debate after a new conspiracy theory has suggested FTX founder Sam \u201cSBF\u201d Bankman-Fried may be secretly<\/a> behind one of the most controversial new memecoins on Base. The Bald memecoin was launched on July 30 and witnessed an incredible 289,000% gain within the first 24 hours of trading. After the token\u2019s anonymous developer removed thousands of ETH in liquidity, the price of Bald plummeted more than 85% \u2014 sparking allegations of a rug pull, which the developer has denied<\/a>. The incident led a number of blockchain sleuths to dig into the developer\u2019s on-chain past, prompting some to draw a link to SBF as the Ethereum wallet address responsible for deploying the Bald token, which had received thousands of ETH in funding from wallets associated with FTX and Alameda Research.<\/p>\nIndividual charged with money laundering admits to hacking Bitfinex in 2016<\/strong><\/h2>\nIlya Lichtenstein admitted to a U.S. court<\/a> that he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 which resulted in the theft of roughly 119,754 Bitcoin. Lichtenstein spoke as part of a plea agreement with prosecutors, who charged him and his wife Heather Morgan with money laundering conspiracy and conspiracy to defraud the United States. The couple allegedly laundered more than 94,643 BTC from the Bitfinex hack \u2014 worth roughly $54 million at the time.<\/p>\nUsers said CertiK\u2019s warning was a false alarm \u2014 then the project rugged<\/strong><\/h2>\nBlockchain security firm Certik tried, in 2022, to warn users of an imminent rug pull<\/a> surrounding a crypto project, but investors became angry and fired back. The firm rescinded the security alert. Then, the project pulled the plug. This is the story behind the Web3 gaming project \u201cCrypto Cars.\u201d At the time, the project\u2019s native token was rapidly falling in price, its website was temporarily down, and its developers said that it would no longer respond on its Telegram due to the Lunar New Year holiday celebrated in Vietnam. The situation triggered Certik\u2019s alert, but when Cointelegraph attempted to follow up with the project on Aug. 1, 2023, it had long ago shut its doors.<\/p>\nBest Cointelegraph Features<\/strong><\/h2>\n<\/figure>\nDeposit risk: What do crypto exchanges really do with your money?<\/strong><\/strong><\/h2>\nWhile depositing may be easy<\/a>, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.<\/p>\nFacebook\u2019s parent company lost over $40 billion in metaverse<\/a>, text-based Discord RPG uses AI and NFTs, Web3 gets new eSports platform, and more.<\/p>\nGirl Gone Crypto thinks \u2018BREAKING\u2019 crypto news tweets are boring: Hall of Flame<\/strong><\/strong><\/h2>\n
\n
\n
Coinbase denies SEC told it to delist everything but Bitcoin<\/strong><\/strong><\/h2>\nCoinbase has denied reports claiming that its CEO<\/a>, Brian Armstrong, was once told by the U.S. Securities and Exchange Commission to delist all cryptocurrencies on its platform except for Bitcoin. In an interview with the Financial Times, Armstrong reportedly stated that the SEC wanted Coinbase to delist the nearly 250 tokens on its platform. According to a Coinbase spokesperson, however, the report is missing context and the SEC didn\u2019t request Coinbase to delist any specific assets. SEC Chair Gary Gensler has previously claimed that \u201ceverything other than Bitcoin\u201d is a security under the agency\u2019s remit.<\/p>\nEthereum\u2019s 8th birthday: Crypto industry shares its top moments<\/strong><\/h2>\nThe crypto community has come together to celebrate the birthday of the Ethereum network<\/a>, marking eight years since the Ethereum Foundation first sent the network live.<\/p>\nOn July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. \u201cThe vision of a censorship-proof \u2018world computer\u2019 that anyone can program, paying exclusively for what they use and nothing more, is now a reality,\u201d he wrote. Eight years later, Ethereum and its native currency, Ether (ETH), has grown to become the second-largest crypto asset in existence, boasting a market capitalization of $225 billion and more than 1,900 monthly active developers.<\/p>\n<\/figure>\nWinners and Losers<\/strong><\/h2>\n<\/figure>\nAt the end of the week, Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> is at $28,985<\/strong>, Ether (<\/strong>ETH<\/strong><\/a>)<\/strong> at $1,823<\/strong> and XRP<\/strong><\/a> at $0.63<\/strong>. The total market cap is at $1.16<\/strong> trillion, according<\/a> to CoinMarketCap.<\/p>\nAmong the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Helium (HNT)<\/strong> at 39.79%, XDC Network (XDC) <\/strong>at 20.11% and Bone ShibaSwap (BONE)<\/strong> at 18.04%.\u00a0<\/p>\nThe top three altcoin losers of the week are Compound (COMP) <\/strong>at -18.41%, Curve DAO Token (CRV) <\/strong>at -15.86% and Stellar (XLM) <\/strong>at -14.36%.<\/p>\nFor more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/p>\n\nRead also<\/p>\n
\n\n
\n Features<\/span><\/p>\nBlockchain fail-safes in space: SpaceChain, Blockstream and Cryptosat<\/p>\n
<\/a>\n <\/div>\n
\n
\n Features<\/span><\/p>\nCrypto winter can take a toll on hodlers\u2019 mental health<\/p>\n
<\/a>\n <\/div>\n<\/div>\n<\/div>\n
Most Memorable Quotations<\/strong>
<\/h2>\n\n\u201cThe digital asset products and services that TASE is exploring will no doubt play foundational roles in the future of Israel\u2019s economy.\u201d<\/p>\n<\/blockquote>\n
Michael Shaulov<\/strong><\/a>, CEO of Fireblocks<\/strong><\/p>\n\n\u201cSpot [Bitcoin] ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.\u201d<\/p>\n<\/blockquote>\n
Michael Saylor<\/strong><\/a>, CEO of Microstrategy<\/strong><\/p>\n\n\u201cGenerative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage.\u201d<\/p>\n<\/blockquote>\n
Goldman Sachs<\/strong><\/a><\/p>\n\n\u201cI personally have not seen any audit reports of USDT. I don\u2019t think most people I spoke to have not seen that either. So it\u2019s kind of a black box because we just don\u2019t know.\u201d<\/p>\n<\/blockquote>\n
Changpeng \u201cCZ\u201d Zhao<\/strong><\/a>, CEO of Binance<\/strong><\/p>\n\n\u201cAs president, on day one, CBDC goes into the trash can \u2014 we\u2019re not going to allow it.\u201d<\/p>\n<\/blockquote>\n
Ron DeSantis<\/strong><\/a>, governor of Florida<\/strong><\/p>\n\n\u201cThe most important thing that happened this year in Bitcoin is Larry Fink.\u201d<\/p>\n<\/blockquote>\n
Mike Novogratz<\/strong><\/a>, CEO of Galaxy Digital<\/strong><\/p>\nPrediction of the Week\u00a0<\/strong><\/h2>\nBTC price upside \u2018yet to come\u2019 at $29K after Bitcoin RSI reset \u2014 Trader<\/strong><\/strong><\/strong><\/p>\nBitcoin has not yet seen the majority of its gains this cycle<\/a>, popular traders believe. After over a month of acting within a tight trading range, traders\u2019 patience with Bitcoin is wearing thin, but amid expectations that BTC price will test levels closer to $25,000 or even lower, pseudonymous analyst Credible Crypto is one of those arguing the opposite.<\/p>\nAnalyzing data, including Bitcoin market cap dominance and its relative strength index (RSI), he concluded that conditions had been reset. \u201cBiggest upside moves on BTC are YET TO COME,\u201d he summarized, before adding that:<\/p>\n
\u201cA month of sideways action on BTC and dominance has simply made a higher low. H12 bullish div confirmed, RSI on higher TF looks reset, maintaining above the \u2018magic\u2019 40 RSI level, who\u2019s ready for the next leg up?\u201d<\/p>\n
Continuing, fellow pseudonymous trader CryptoCon flagged RSI over longer timeframes to deliver a similarly bullish take on BTC price performance:<\/p>\n
\u201cI see price going sideways, and I\u2019ve never been more bullish! Just wait until we break into phase 2 on the 3 Week RSI\u2026 Early bull market price action, period.\u201d<\/p>\n
FUD of the Week\u00a0<\/strong><\/h2>\n<\/figure>\n<\/h3>\nIs SBF secretly behind BALD? Crypto Twitter debates latest conspiracy<\/strong><\/h2>\nCrypto Twitter has been abuzz with debate after a new conspiracy theory has suggested FTX founder Sam \u201cSBF\u201d Bankman-Fried may be secretly<\/a> behind one of the most controversial new memecoins on Base. The Bald memecoin was launched on July 30 and witnessed an incredible 289,000% gain within the first 24 hours of trading. After the token\u2019s anonymous developer removed thousands of ETH in liquidity, the price of Bald plummeted more than 85% \u2014 sparking allegations of a rug pull, which the developer has denied<\/a>. The incident led a number of blockchain sleuths to dig into the developer\u2019s on-chain past, prompting some to draw a link to SBF as the Ethereum wallet address responsible for deploying the Bald token, which had received thousands of ETH in funding from wallets associated with FTX and Alameda Research.<\/p>\nIndividual charged with money laundering admits to hacking Bitfinex in 2016<\/strong><\/h2>\nIlya Lichtenstein admitted to a U.S. court<\/a> that he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 which resulted in the theft of roughly 119,754 Bitcoin. Lichtenstein spoke as part of a plea agreement with prosecutors, who charged him and his wife Heather Morgan with money laundering conspiracy and conspiracy to defraud the United States. The couple allegedly laundered more than 94,643 BTC from the Bitfinex hack \u2014 worth roughly $54 million at the time.<\/p>\nUsers said CertiK\u2019s warning was a false alarm \u2014 then the project rugged<\/strong><\/h2>\nBlockchain security firm Certik tried, in 2022, to warn users of an imminent rug pull<\/a> surrounding a crypto project, but investors became angry and fired back. The firm rescinded the security alert. Then, the project pulled the plug. This is the story behind the Web3 gaming project \u201cCrypto Cars.\u201d At the time, the project\u2019s native token was rapidly falling in price, its website was temporarily down, and its developers said that it would no longer respond on its Telegram due to the Lunar New Year holiday celebrated in Vietnam. The situation triggered Certik\u2019s alert, but when Cointelegraph attempted to follow up with the project on Aug. 1, 2023, it had long ago shut its doors.<\/p>\nBest Cointelegraph Features<\/strong><\/h2>\n<\/figure>\nDeposit risk: What do crypto exchanges really do with your money?<\/strong><\/strong><\/h2>\nWhile depositing may be easy<\/a>, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.<\/p>\nFacebook\u2019s parent company lost over $40 billion in metaverse<\/a>, text-based Discord RPG uses AI and NFTs, Web3 gets new eSports platform, and more.<\/p>\nGirl Gone Crypto thinks \u2018BREAKING\u2019 crypto news tweets are boring: Hall of Flame<\/strong><\/strong><\/h2>\n
Ethereum\u2019s 8th birthday: Crypto industry shares its top moments<\/strong><\/h2>\nThe crypto community has come together to celebrate the birthday of the Ethereum network<\/a>, marking eight years since the Ethereum Foundation first sent the network live.<\/p>\nOn July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. \u201cThe vision of a censorship-proof \u2018world computer\u2019 that anyone can program, paying exclusively for what they use and nothing more, is now a reality,\u201d he wrote. Eight years later, Ethereum and its native currency, Ether (ETH), has grown to become the second-largest crypto asset in existence, boasting a market capitalization of $225 billion and more than 1,900 monthly active developers.<\/p>\n<\/figure>\nWinners and Losers<\/strong><\/h2>\n<\/figure>\nAt the end of the week, Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> is at $28,985<\/strong>, Ether (<\/strong>ETH<\/strong><\/a>)<\/strong> at $1,823<\/strong> and XRP<\/strong><\/a> at $0.63<\/strong>. The total market cap is at $1.16<\/strong> trillion, according<\/a> to CoinMarketCap.<\/p>\nAmong the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Helium (HNT)<\/strong> at 39.79%, XDC Network (XDC) <\/strong>at 20.11% and Bone ShibaSwap (BONE)<\/strong> at 18.04%.\u00a0<\/p>\nThe top three altcoin losers of the week are Compound (COMP) <\/strong>at -18.41%, Curve DAO Token (CRV) <\/strong>at -15.86% and Stellar (XLM) <\/strong>at -14.36%.<\/p>\nFor more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/p>\n\nRead also<\/p>\n
\n\n
\n Features<\/span><\/p>\nBlockchain fail-safes in space: SpaceChain, Blockstream and Cryptosat<\/p>\n
<\/a>\n <\/div>\n
\n
\n Features<\/span><\/p>\nCrypto winter can take a toll on hodlers\u2019 mental health<\/p>\n
<\/a>\n <\/div>\n<\/div>\n<\/div>\n
Most Memorable Quotations<\/strong>
<\/h2>\n\n\u201cThe digital asset products and services that TASE is exploring will no doubt play foundational roles in the future of Israel\u2019s economy.\u201d<\/p>\n<\/blockquote>\n
Michael Shaulov<\/strong><\/a>, CEO of Fireblocks<\/strong><\/p>\n\n\u201cSpot [Bitcoin] ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.\u201d<\/p>\n<\/blockquote>\n
Michael Saylor<\/strong><\/a>, CEO of Microstrategy<\/strong><\/p>\n\n\u201cGenerative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage.\u201d<\/p>\n<\/blockquote>\n
Goldman Sachs<\/strong><\/a><\/p>\n\n\u201cI personally have not seen any audit reports of USDT. I don\u2019t think most people I spoke to have not seen that either. So it\u2019s kind of a black box because we just don\u2019t know.\u201d<\/p>\n<\/blockquote>\n
Changpeng \u201cCZ\u201d Zhao<\/strong><\/a>, CEO of Binance<\/strong><\/p>\n\n\u201cAs president, on day one, CBDC goes into the trash can \u2014 we\u2019re not going to allow it.\u201d<\/p>\n<\/blockquote>\n
Ron DeSantis<\/strong><\/a>, governor of Florida<\/strong><\/p>\n\n\u201cThe most important thing that happened this year in Bitcoin is Larry Fink.\u201d<\/p>\n<\/blockquote>\n
Mike Novogratz<\/strong><\/a>, CEO of Galaxy Digital<\/strong><\/p>\nPrediction of the Week\u00a0<\/strong><\/h2>\nBTC price upside \u2018yet to come\u2019 at $29K after Bitcoin RSI reset \u2014 Trader<\/strong><\/strong><\/strong><\/p>\nBitcoin has not yet seen the majority of its gains this cycle<\/a>, popular traders believe. After over a month of acting within a tight trading range, traders\u2019 patience with Bitcoin is wearing thin, but amid expectations that BTC price will test levels closer to $25,000 or even lower, pseudonymous analyst Credible Crypto is one of those arguing the opposite.<\/p>\nAnalyzing data, including Bitcoin market cap dominance and its relative strength index (RSI), he concluded that conditions had been reset. \u201cBiggest upside moves on BTC are YET TO COME,\u201d he summarized, before adding that:<\/p>\n
\u201cA month of sideways action on BTC and dominance has simply made a higher low. H12 bullish div confirmed, RSI on higher TF looks reset, maintaining above the \u2018magic\u2019 40 RSI level, who\u2019s ready for the next leg up?\u201d<\/p>\n
Continuing, fellow pseudonymous trader CryptoCon flagged RSI over longer timeframes to deliver a similarly bullish take on BTC price performance:<\/p>\n
\u201cI see price going sideways, and I\u2019ve never been more bullish! Just wait until we break into phase 2 on the 3 Week RSI\u2026 Early bull market price action, period.\u201d<\/p>\n
FUD of the Week\u00a0<\/strong><\/h2>\n<\/figure>\n<\/h3>\nIs SBF secretly behind BALD? Crypto Twitter debates latest conspiracy<\/strong><\/h2>\nCrypto Twitter has been abuzz with debate after a new conspiracy theory has suggested FTX founder Sam \u201cSBF\u201d Bankman-Fried may be secretly<\/a> behind one of the most controversial new memecoins on Base. The Bald memecoin was launched on July 30 and witnessed an incredible 289,000% gain within the first 24 hours of trading. After the token\u2019s anonymous developer removed thousands of ETH in liquidity, the price of Bald plummeted more than 85% \u2014 sparking allegations of a rug pull, which the developer has denied<\/a>. The incident led a number of blockchain sleuths to dig into the developer\u2019s on-chain past, prompting some to draw a link to SBF as the Ethereum wallet address responsible for deploying the Bald token, which had received thousands of ETH in funding from wallets associated with FTX and Alameda Research.<\/p>\nIndividual charged with money laundering admits to hacking Bitfinex in 2016<\/strong><\/h2>\nIlya Lichtenstein admitted to a U.S. court<\/a> that he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 which resulted in the theft of roughly 119,754 Bitcoin. Lichtenstein spoke as part of a plea agreement with prosecutors, who charged him and his wife Heather Morgan with money laundering conspiracy and conspiracy to defraud the United States. The couple allegedly laundered more than 94,643 BTC from the Bitfinex hack \u2014 worth roughly $54 million at the time.<\/p>\nUsers said CertiK\u2019s warning was a false alarm \u2014 then the project rugged<\/strong><\/h2>\nBlockchain security firm Certik tried, in 2022, to warn users of an imminent rug pull<\/a> surrounding a crypto project, but investors became angry and fired back. The firm rescinded the security alert. Then, the project pulled the plug. This is the story behind the Web3 gaming project \u201cCrypto Cars.\u201d At the time, the project\u2019s native token was rapidly falling in price, its website was temporarily down, and its developers said that it would no longer respond on its Telegram due to the Lunar New Year holiday celebrated in Vietnam. The situation triggered Certik\u2019s alert, but when Cointelegraph attempted to follow up with the project on Aug. 1, 2023, it had long ago shut its doors.<\/p>\nBest Cointelegraph Features<\/strong><\/h2>\n<\/figure>\nDeposit risk: What do crypto exchanges really do with your money?<\/strong><\/strong><\/h2>\nWhile depositing may be easy<\/a>, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.<\/p>\nFacebook\u2019s parent company lost over $40 billion in metaverse<\/a>, text-based Discord RPG uses AI and NFTs, Web3 gets new eSports platform, and more.<\/p>\nGirl Gone Crypto thinks \u2018BREAKING\u2019 crypto news tweets are boring: Hall of Flame<\/strong><\/strong><\/h2>\n
On July 30, 2015, former Ethereum Foundation CCO Stephan Tual penned a blog post, officially announcing that the network had been rolled out. \u201cThe vision of a censorship-proof \u2018world computer\u2019 that anyone can program, paying exclusively for what they use and nothing more, is now a reality,\u201d he wrote. Eight years later, Ethereum and its native currency, Ether (ETH), has grown to become the second-largest crypto asset in existence, boasting a market capitalization of $225 billion and more than 1,900 monthly active developers.<\/p>\n At the end of the week, Bitcoin (<\/strong>BTC<\/strong><\/a>)<\/strong> is at $28,985<\/strong>, Ether (<\/strong>ETH<\/strong><\/a>)<\/strong> at $1,823<\/strong> and XRP<\/strong><\/a> at $0.63<\/strong>. The total market cap is at $1.16<\/strong> trillion, according<\/a> to CoinMarketCap.<\/p>\n Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Helium (HNT)<\/strong> at 39.79%, XDC Network (XDC) <\/strong>at 20.11% and Bone ShibaSwap (BONE)<\/strong> at 18.04%.\u00a0<\/p>\n The top three altcoin losers of the week are Compound (COMP) <\/strong>at -18.41%, Curve DAO Token (CRV) <\/strong>at -15.86% and Stellar (XLM) <\/strong>at -14.36%.<\/p>\n For more info on crypto prices, make sure to read Cointelegraph\u2019s market analysis<\/a>.<\/p>\n Read also<\/p>\n Blockchain fail-safes in space: SpaceChain, Blockstream and Cryptosat<\/p>\n <\/a>\n <\/div>\n Crypto winter can take a toll on hodlers\u2019 mental health<\/p>\n <\/a>\n <\/div>\n<\/div>\n<\/div>\n \u201cThe digital asset products and services that TASE is exploring will no doubt play foundational roles in the future of Israel\u2019s economy.\u201d<\/p>\n<\/blockquote>\n Michael Shaulov<\/strong><\/a>, CEO of Fireblocks<\/strong><\/p>\n \u201cSpot [Bitcoin] ETFs will serve another set of customers in a synergistic fashion to grow the entire asset class.\u201d<\/p>\n<\/blockquote>\n Michael Saylor<\/strong><\/a>, CEO of Microstrategy<\/strong><\/p>\n \u201cGenerative AI has enormous economic potential and could boost global labor productivity by more than 1 percentage point a year in the decade following widespread usage.\u201d<\/p>\n<\/blockquote>\n Goldman Sachs<\/strong><\/a><\/p>\n \u201cI personally have not seen any audit reports of USDT. I don\u2019t think most people I spoke to have not seen that either. So it\u2019s kind of a black box because we just don\u2019t know.\u201d<\/p>\n<\/blockquote>\n Changpeng \u201cCZ\u201d Zhao<\/strong><\/a>, CEO of Binance<\/strong><\/p>\n \u201cAs president, on day one, CBDC goes into the trash can \u2014 we\u2019re not going to allow it.\u201d<\/p>\n<\/blockquote>\n Ron DeSantis<\/strong><\/a>, governor of Florida<\/strong><\/p>\n \u201cThe most important thing that happened this year in Bitcoin is Larry Fink.\u201d<\/p>\n<\/blockquote>\n Mike Novogratz<\/strong><\/a>, CEO of Galaxy Digital<\/strong><\/p>\n BTC price upside \u2018yet to come\u2019 at $29K after Bitcoin RSI reset \u2014 Trader<\/strong><\/strong><\/strong><\/p>\n Bitcoin has not yet seen the majority of its gains this cycle<\/a>, popular traders believe. After over a month of acting within a tight trading range, traders\u2019 patience with Bitcoin is wearing thin, but amid expectations that BTC price will test levels closer to $25,000 or even lower, pseudonymous analyst Credible Crypto is one of those arguing the opposite.<\/p>\n Analyzing data, including Bitcoin market cap dominance and its relative strength index (RSI), he concluded that conditions had been reset. \u201cBiggest upside moves on BTC are YET TO COME,\u201d he summarized, before adding that:<\/p>\n \u201cA month of sideways action on BTC and dominance has simply made a higher low. H12 bullish div confirmed, RSI on higher TF looks reset, maintaining above the \u2018magic\u2019 40 RSI level, who\u2019s ready for the next leg up?\u201d<\/p>\n Continuing, fellow pseudonymous trader CryptoCon flagged RSI over longer timeframes to deliver a similarly bullish take on BTC price performance:<\/p>\n \u201cI see price going sideways, and I\u2019ve never been more bullish! Just wait until we break into phase 2 on the 3 Week RSI\u2026 Early bull market price action, period.\u201d<\/p>\n Crypto Twitter has been abuzz with debate after a new conspiracy theory has suggested FTX founder Sam \u201cSBF\u201d Bankman-Fried may be secretly<\/a> behind one of the most controversial new memecoins on Base. The Bald memecoin was launched on July 30 and witnessed an incredible 289,000% gain within the first 24 hours of trading. After the token\u2019s anonymous developer removed thousands of ETH in liquidity, the price of Bald plummeted more than 85% \u2014 sparking allegations of a rug pull, which the developer has denied<\/a>. The incident led a number of blockchain sleuths to dig into the developer\u2019s on-chain past, prompting some to draw a link to SBF as the Ethereum wallet address responsible for deploying the Bald token, which had received thousands of ETH in funding from wallets associated with FTX and Alameda Research.<\/p>\n Ilya Lichtenstein admitted to a U.S. court<\/a> that he was the individual behind an exploit of cryptocurrency exchange Bitfinex in 2016 which resulted in the theft of roughly 119,754 Bitcoin. Lichtenstein spoke as part of a plea agreement with prosecutors, who charged him and his wife Heather Morgan with money laundering conspiracy and conspiracy to defraud the United States. The couple allegedly laundered more than 94,643 BTC from the Bitfinex hack \u2014 worth roughly $54 million at the time.<\/p>\n Blockchain security firm Certik tried, in 2022, to warn users of an imminent rug pull<\/a> surrounding a crypto project, but investors became angry and fired back. The firm rescinded the security alert. Then, the project pulled the plug. This is the story behind the Web3 gaming project \u201cCrypto Cars.\u201d At the time, the project\u2019s native token was rapidly falling in price, its website was temporarily down, and its developers said that it would no longer respond on its Telegram due to the Lunar New Year holiday celebrated in Vietnam. The situation triggered Certik\u2019s alert, but when Cointelegraph attempted to follow up with the project on Aug. 1, 2023, it had long ago shut its doors.<\/p>\n While depositing may be easy<\/a>, what some crypto exchanges do with your money behind the scenes can range from concerning to criminal.<\/p>\n Facebook\u2019s parent company lost over $40 billion in metaverse<\/a>, text-based Discord RPG uses AI and NFTs, Web3 gets new eSports platform, and more.<\/p>\n<\/figure>\nWinners and Losers<\/strong><\/h2>\n
<\/figure>\n
\n Features<\/span><\/p>\n
\n Features<\/span><\/p>\nMost Memorable Quotations<\/strong>
<\/h2>\n\n
\n
\n
\n
\n
\n
Prediction of the Week\u00a0<\/strong><\/h2>\n
FUD of the Week\u00a0<\/strong><\/h2>\n
<\/figure>\n<\/h3>\n
Is SBF secretly behind BALD? Crypto Twitter debates latest conspiracy<\/strong><\/h2>\n
Individual charged with money laundering admits to hacking Bitfinex in 2016<\/strong><\/h2>\n
Users said CertiK\u2019s warning was a false alarm \u2014 then the project rugged<\/strong><\/h2>\n
Best Cointelegraph Features<\/strong><\/h2>\n
<\/figure>\nDeposit risk: What do crypto exchanges really do with your money?<\/strong><\/strong><\/h2>\n
Girl Gone Crypto thinks \u2018BREAKING\u2019 crypto news tweets are boring: Hall of Flame<\/strong><\/strong><\/h2>\n
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