➡️Robinhood Agrees $600 Million Buyback of Seized Sam Bankman-Fried HOOD Stake From US Marshal Service

On August 30, Robinhood entered into a $605.7 million (HOOD) share buyback agreement with the US Marshal Service (USMS) to reclaim shares formerly held by Same Bankman-Fried (SBF) through Emergent Fidelity Technologies.

At the beginning of this year, the US government took possession of the 55 million HOOD shares owned by Bankman-Fried and Gary Wang, co-founders of FTX, through their holding company, Emergent Fidelity Technologies, after Bankman-Fried's cryptocurrency exchange, FTX, and Emergent filed for bankruptcy protection in 2022.

Last November, just six months before Bankman-Fried's company filed for bankruptcy, he disclosed a 7.6% stake in Robinhood.

However, he clarified that he had no intention of taking control of the retail trading platform. At that time, he expressed excitement about Robinhood's business prospects and potential collaboration opportunities with FTX.

According to a US Securities and Exchange Commission Filing dated August 30, the US District Court for the Southern District of New York approved the share repurchase agreement on August 28.

📼 BTC DOMINANCE — [HALVING FRACTAL]

There is an interesting coincidence: if we start studying how Bitcoin Dominance behaved before the 2020 Halving, we will see that in 6 months before the Halving it started dumping.

This is quite surprising, isn’t it? More to say, the dump of Dominance back in 2020 started after forming a double top near the 46% level.

What do we have now? The Dominance is forming a Double Top near the 52% level. If the history repeats itself, we may easily expect BTC.D to dump to the 44% levels in the future.

📌No, SpaceX Isn't the Cause of This Multi-Billion Dollar Bitcoin Bloodbath

This was the first thought that crossed the mind of Reetika, a Dubai-based bitcoin (BTC) and crypto trader, during her usual routine of checking prices after waking up.

An unexpected and major sell-off in the crypto markets jolted what was an otherwise boring few weeks for crypto and the sentiment was likely shared worldwide among traders and crypto hopefuls, Reetika told CoinDesk in a message.

Bitcoin plunged on Thursday as traders sold the tokens en masse based on several unrelated catalysts, causing the crypto markets to lose 6.7% in overall capitalization in what marked one of the biggest drops in recent months.

In the past 24 hours, Bitcoin fell as much as 9% to $25,000 from $28,500 on Binance, leading to a market-wide fall that sent major tokens like litecoin (LTC) tumbling by 14%. This caused more than $1 billion in crypto futures to be liquidated, a 14-month high.

Some pointed to space exploration company SpaceX’s supposed bitcoin sales – an unsubstantiated claim – while others said the bankruptcy of China Evergreen’s may have had something to do with the fall. However, neither of these events may have impacted prices.

SpaceX merely wrote down the value of its bitcoin holdings, as per a WSJ report. Among accountants, that is the reduction in the book value of an asset when its fair market value has fallen below the book value.

Asset write-downs are common among businesses – as it reduces the value of any holdings for tax purposes. As of Asian morning hours on Friday, SpaceX did not confirm, or report, any sales of its bitcoin holdings. As such, it remains unknown how much bitcoin or crypto the Elon Musk-owned company holds.

💸XRP Price Surges By 80% As US Judge Rules XRP Not A Security

After more than two years of back-and-forth legal battles, Ripple has emerged victorious in its dispute with the Securities and Exchange Commission (SEC). A US judge has officially ruled that XRP is not a security, putting an end to the ongoing lawsuit between the two parties. The news has had a positive impact on the price of XRP, with the cryptocurrency surging by 80% following the announcement.

The ongoing legal dispute had a significant impact on XRP’s price and discouraged retail investors. However, the latest news has turned out to be a big win for the XRP community and the crypto community as a whole. According to CoinMarketCap data, XRP went up from a 24-hour low of $0.4680 to its highest price of $0.9382, and at press time, the coin was trading at $0.8771, with the trajectory and likelihood of the coin surging even more.

This ruling is significant for Ripple and the entire cryptocurrency industry, as it provides clarity on the regulatory status of XRP. Many in the industry had been waiting for this ruling, and it could lead to increased adoption of XRP and other cryptocurrencies.

While the ongoing lawsuit had a negative impact on XRP’s price and discouraged retail investors, Ripple’s victory in the case has put those concerns to rest. The ruling could also lead to other cryptocurrencies receiving regulatory clarity, which could be a positive development for the industry as a whole.

🔼Meanwhile, BCH looks way much better than Bitcoin!

Makes sense to buy some in the $225 - $235 range if it dumps there in terms of correction.

➡️ LTC looks great at this point!

There was a resistance at the $65 level that was broken thanks to the inverse H&S pattern.

After some consolidation, we may see some growth finally!

💸Crypto regulation is in the works, and Coinbase isn't ruling out relocation away from the U.S.

“Anything is on the table,” said CEO Brian Armstrong when asked if Coinbase would consider moving to Britain.

In Late March, the U.S. Securities and Exchange Commission warned Coinbase of plans to implement regulation on the company.

Lawmakers have yet to agree on these plans as they decide whether assets like Bitcoin and Ethereum should be considered securities or commodities.

🔊XRP News: Ripple Highlights CBDC Adoption; XRP Price Drops 3%

— XRP Still Out Performing Bitcoin, Ethereum

XRP price witnessed a major correction on Friday as it dropped by more than 3%. However, XRP is still the biggest gainer in the last 90 days among the top cryptos. It is up by over 10% outperforming Bitcoin (BTC) and Ethereum (ETH) during this period.

XRP is trading at an average price of $0.495, at the press time. However, its 24 hour trading volume is down by 24% to stand at around $1 billion.

In a recent post, Ripple highlighted the global adoption of Central Bank Digital Currency (CBDC). The world’s largest central banks are planning to pilot the launch of their own Bank backed digital currencies.

The blockchain firm mentioned that it is supporting the Central Bank of Montenegro (CBCG) to launch a CBDC. It added that the Central Bank of Brazil has presented its plan to launch a CBDC in 2024. While the Digital Currency Monetary Authority also announced the Universal Monetary Unit (UMU), a digital coin.

➡️BTC UPDATE

Bitcoin got rejected from the $28,480 resistance and dumped to $27,300 support. We wrote about this possibility yesterday.

What is the current plan? We NEED to see some positive reaction on the current support. I mean — pump from here.

If it doesn't happen in the nearest future, chances of growing will start drastically decreasing.

📌 ​Large Amounts of TUSD Has Flowed to Exchanges in Last 48 Hours

The blockchain analytics firm tweeted yesterday that True USD (TUSD) has seen waves of previously dormant coins moving to exchanges. According to the tweet, this has increased TUSD’s exchange supply to 73% for the first time since June 22, 2021.

The tweet added that stablecoins flowing to exchanges usually implies increased buying power and may be a good sign for the crypto market.

At press time, TUSD is ranked number 53 on CoinMarketCap’s list of the biggest cryptos by market cap, and has a market cap of approximately $967,957,460. The stablecoin has also seen a 10.28% decrease in its trading volume over the last 24 hours. As a result, the daily trading volume for TUSD stands at $35,875,413.

CoinMarketCap shows that the total stablecoin trading volume over the last 24 hours stands at $31.73 billion. The crypto market tracking website also shows that the total stablecoin volume currently makes up 88.25% of the total volume in the crypto space.

Looking at other stablecoins in the market, Tether (USDT) still leads the way in terms of stablecoins with the biggest market caps, with its estimated market cap of $70,857,235,744.

The next biggest stablecoin by market cap is USD Coin (USDC), with its market cap of $42,557,542,338. This also ranks USDC as the 5th biggest crypto in terms of market cap overall.

The 3rd largest stablecoin and the 8th biggest crypto in terms of market cap is Binance USD (BUSD) with its market cap of $11,127,571,997.

🗣️ETH/BTC UPDATE

There is a bearish flag. More likely we will see a continuation of the dump to the 0.06 points. Not so good for Altcoins in a short-term period.

💬BTC Q4 UPDATE

We've been waiting quite a long time to publish this, but today we received another bearish confirmation and here it is.

You have probably already heard about this massive H&S pattern on the Bitcoin 1-3D chart. The neckline is located at the $25,000 support level.

Most probably we will see a breakdown of this support. Chances of testing the $20,000 level this year are quite high.

The top of the right shoulder can be located in the $28,000 - $30,000 zone which means locally we can still go a bit higher.

We need one more dip before the 2024 - 2025 bullrun! lower lows are extremely unlikely

💸Binance launches AI-powered NFT generator for KYC-verified users

Crypto exchange Binance’s nonfungible token (NFT) arm announced the launch of its artificial intelligence (AI) NFT generator that lets users produce custom artworks using AI technology.

On July 26, Binance NFT said its AI NFT generator dubbed “Bixel” is now permanently available for its users. According to the trading platform, the tool allows users to generate unique digital art and join the world of NFTs. However, those who wish to use the tool are required to complete the platform’s know your customer (KYC) identity verification process. Binance explained that:

“This critical measure is in place to maintain a trustworthy and secure platform for all users, aligning with best practices and regulatory requirements.”

In addition, those who wish to mint NFTs using the tool are also required to pay a minting fee of 0.008 BNB (BNB), which is around $1.9 at the time of writing. According to Binance, the fee ensures that the NFT creation process is executed properly within the BNB smart chain.

— Binance's AI NFT generator is back!

Bixel is now publicly available, letting you unleash your creativity to generate your own AI artwork.
Create your digital art before the 10th of August for the chance to win 1 BNB!
- Binance (binance)

When it comes to generating artwork using AI, the crypto exchange said they will provide ten chances for users to produce art for free each day.

🌐Cardano Founder Reacts to Epic NFT Sale Costing 63,000 ADA

The Cardano ecosystem is seeing remarkable demand for its non-fungible tokens (NFTs), which might have partly led to some of its NFT collections being sold at noteworthy prices.

Notably, the demand for Cardano Apes has been sustained, driving prices higher. A Twitter user drew attention to this fact, reporting that a Cardano Ape NFT just sold for 63,000 ADA, valued at nearly 20,000 U.S. dollars.

The Twitter user went on to ask for thoughts about the sale. The tweet caught the attention of Cardano founder Charles Hoskinson, who reacted with a GIF image that might suggest someone exploding with excitement.

— Charles Hoskinson

Another interpretation of the GIF image might be to infer that the sale was an "explosive" one. Whichever it may be, the Cardano founder's intent remains unknown.

The Ape Society, Cardano's largest NFT project, saw strong user demand last December, resulting in its floor price setting highs of 10,000 ADA. Ape Society has the highest Collection Share by Volume, accounting for 24.64% over the past 24 hours, according to CNFT data.

Not only is Cardano thriving in its NFT sales, according to Messari's Layer 1 Q2, 2023, comparison report, but Cardano also dominated Q2, 2023, DeFi growth, leading in TVL, stablecoin market cap and DEX volume among the featured Layer 1 despite a 27% QoQ decrease in ADA's price.

📣BTC is losing the grip here. The chart is just awful, painful to watch.

No need to catch knives here imo! Reminder: my levels are $24300 weekly support and $23300 monthly support!