Category: NFTs

Australia’s Fintech Faces 7% Decline as Crypto Firms Bear 14% Impact

Vortex Cryptonews

Over 7% of Australian fintech companies closed in 2024, with 60 firms shutting down, including 14% from blockchain and crypto. Blockchain and cryptocurrency firms saw a 14% decline in 2024, leaving only 74 active firms, according to KPMG. Regulatory changes and increasing AI interest may shift focus, but spot Bitcoin ETFs and rate cuts could revive the crypto sector in 2025. The Australian fintech sector is facing a challenging period as more than 7% of fintech companies based in the country have closed down in 2024. The biggest casualty? Blockchain…

Bitcoin Options Data Shows Caution among Traders, What’s Next?

Vortex Cryptonews

Short-term risk reversals on Deribit turned negative, with bearish block trades including short positions on $108,000 calls. This contrasts with recent weeks where traders exhibited strong bullish call biases. Traders fear Wednesday’s Federal Reserve announcement of a 25 basis point rate cut may include signals of slower rate reductions for 2025. Bitcoin price continues to extend its weekly gains beyond 10% hitting a fresh all-time high of $107,700 earlier today. Although BTC continues to smash new records, the options data shows that traders aren’t chasing new highs for the world’s…

Bitcoin Price Rally Eyes $108K: Is BTC New Gold Standard?

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Bitcoin hits a new all-time high of 40 ounces of gold per BTC, reflecting its rising dominance over traditional assets. Chartist Peter Brandt projects Bitcoin-to-gold ratio could reach 89, underscoring BTC’s growing dominance. BlackRock’s iShares Bitcoin ETF surpasses iShares Gold Trust in AUM, cementing Bitcoin’s growing appeal among institutional investors. With Bitcoin reaching a new all-time high, the crypto total market cap peaked at $3.67T. As the buying pressure over the weekends drives to new peaks, the bulls are preparing to enter unchartered price levels. Amid the recovery run, the…

Bybit to Terminate Withdrawal and Custody Services in France in January 2025

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Bybit will terminate its withdrawal and custody services in France by January 8, 2025, advising users to withdraw their assets before the deadline. The exchange cited France’s stringent regulations, particularly the requirement to register as a Digital Asset Service Provider (DASP), as the reason for discontinuing its services. Bybit has faced challenges from the Autorité des Marchés Financiers (AMF) since being blacklisted in 2022 for operating without proper authorization. ar. The company has requested users remove their funds from the platform before January 8, 2025, as it plans to ramp…

Cardano (ADA) Price Prediction: Breakout Run to Target $1.67 before Year-End

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The ADA price challenges a long-term resistance trendline, with a double-bottom reversal pattern forming. Cardano’s transaction count tripled to 10.2K since November but remains down from its peak of 21.97K, signaling mixed network health. Active addresses are rebounding toward 50K, a recovery from the recent lows, reflecting renewed network engagement. Based on Fibonacci levels, a breakout could drive the price to $1.46 or $1.67. As Bitcoin price nears the $108,000 mark, the altcoin segment is witnessing a surge in buying pressure. The total crypto market cap, excluding Bitcoin and Ethereum…

Chiliz CEO Expresses Possibility of Acquiring Nike NFT RTFKT, CHZ Surges 9%

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RTFKT is winding down operations in January 2025. Chiliz might bid on RTFKT’s assets, said CEO Alexandre Dreyfus. CHZ token skyrocketed by more than 9% post Dreyfus’ statement. Alexandre Dreyfus, the chief executive of Chiliz , the digital currency operating the sports entertainment platform Socios, has expressed interest in acquiring Nike’s non-fungible token () platform RTFKT after the NFT project announced that it is winding down operations in January 2025. In a on social media platform X (formerly Twitter), Dreyfus hinted at the possibility of the Chiliz ecosystem bidding on…

Breaking: Trump Names David Sacks as Artificial Intelligence and Cryptocurrency ‘Czar’

Vortex Cryptonews

David Sacks, a member of the influential “PayPal Mafia” and founder of Yammer, brings 25 years of Silicon Valley experience to this newly created position overseeing AI and cryptocurrency policy. As AI and Cryptocurrency Czar, Sacks will chair the Presidential Council of Science and Technology Advisors and work to develop a clear regulatory framework for the cryptocurrency industry. The appointment aims to address both technological advancement and regulatory clarity, with a specific focus on safeguarding online free speech and moving away from what Trump describes as “Big Tech bias and…

Brooklyn DA Closes 40 Fake NFT Sites after Artist Lost $135K

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An 85-year-old artist lost over $135,000 to a fake NFT minting website. The Brooklyn DA’s office has shut down about 40 related fake NFT sites. Beyond the Brooklyn area, victims are targeted all over the country. Brooklyn’s District Attorney’s Office has recently taken action on fraudulent (NFT) operations. This action was prompted after an 85-year-old artist fell victim to a scam that led to a significant financial loss. The artist, targeted through LinkedIn, was tricked into minting his artwork on a fake NFT platform. The NFT Scam Unfolds: A Deal…

Binance Welcomes Vana (VANA) as 62nd Project on Launchpool

Vortex Cryptonews

Binance has added Vana (VANA) to its Launchpool, allowing users to farm the token before its market debut on December 16. Starting December 14, users can participate in the Launchpool by locking their BNB or FDUSD to earn VANA tokens ahead of launch. VANA trading pairs will include popular options like USDT, BNB, and FDUSD. Leading global cryptocurrency exchange announced on Friday the addition of Vana (VANA), a Layer 1 blockchain project focused on securing users’ data, to its Launchpool program. This initiative allows users to farm the token before…

Can Google’s Willow Quantum Chip End Bitcoin’s Reign?

Vortex Cryptonews

Alphabet’s Google has unveiled Willow, its quantum chip. Willow has a capability that can make it outpace the most powerful supercomputers. Bitcoiners are debating whether this can impact the cryptocurrency’s integrity. Top technology firm (NASDAQ: GOOGL), through its subsidiary Google, has Willow, its latest quantum chip. Many believe Willow might be the end of Bitcoin , considering its potential. Willow Comes with a New Speed Standard ‘s Willow is a very powerful quantum supercomputer capable of performing certain computational tasks that will ordinarily take classical supercomputers 10 septillion years, just…