Blockchain forensics firm Elliptic has clarified that there is no substantial evidence to support the claim that Hamas is receiving large amounts of cryptocurrency donations, contrary to recent media reports. Elliptic stated that the amounts raised remain small. The firm’s statement aimed to correct misinterpretations of data made by The Wall Street Journal and US lawmakers, who suggested that cryptocurrency is widely used to fund Hamas’ terrorist activities. Elliptic cited a prominent Hamas cryptocurrency fundraising campaign, operated by Gaza Now, which has only raised $21,000 since the attack on Israel on October 7. However, $9,000 of this was frozen by stablecoin issuer Tether, and another $2,000 was frozen after being sent to a cryptocurrency exchange for cashing out, according to Elliptic.
Former FTX CEO Sam Bankman-Fried will testify in his criminal trial, confirmed his defense lawyers. He is expected to take the stand with three other witnesses after the prosecution completes its case. Bankman-Fried’s defense is not anticipated to take more than three days to question potential witnesses. Earlier in the trial, notable former FTX employees Caroline Ellison, Gary Wang, and Nishad Singh provided statements.
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Cryptocurrency trading firm Matrixport has reaffirmed its prediction that Bitcoin will reach $45,000 by the end of 2023. The firm previously set this price target at the beginning of the year and reiterated it in a recent blog post. Matrixport highlighted its accurate predictions in previous market forecasts and pointed to its report from September 2023, which correctly predicted significant action in the Bitcoin market in October. Matrixport specifically noted that October historically has been the strongest month for Bitcoin, with average returns of 20%.