Crypto
Bitget Wallet Unveils AI Tool to Spot Crypto “Whales”
Bitget
Wallet, a Web3 crypto wallet formerly known as BitKeep, has launched a new
“Smart Money” feature powered by artificial intelligence. This tool
tracks over 6,000 high-performing crypto addresses on networks like Ethereum to
identify potential trading signals and market trends.
The
cryptocurrency exchange Bitget’s wallet also summarized 2023, during
which it underwent rebranding, and its global user count exceeded 12 million.
The Smart
Money feature provides traders with real-time data on the activities of
historically successful crypto traders and investors, referred to as
“whales.” This includes info on the assets being traded, transaction
volumes and prices, number of holding addresses, and more.
According
to Bitget Wallet’s COO, Alvin Kan, the goal is to “empower users to
preemptively discern market trends, promptly uncover investment opportunities,
and consequently bridge the gap between ordinary investors and Smart
Money.”
The wallet
plans to expand the feature to additional blockchains, such as BNB Chain,
Solana, Polygon, and Avalanche. Bitget Swap, the wallet’s built-in DEX
aggregator, already supports trading on nearly 30 networks.
Kan
highlighted the importance of intelligent market data for discovering new
assets and trends early. He stated the wallet aims to provide users with
“a rich selection of on-chain assets and robust on-chain trading services,
enabling them to seize these new opportunities.”
Bitget Wallet’s 2023 in
Recap
Bitget
acquired a controlling stake in the wallet, formerly known as BitKeep, for $30
million in March 2023. The rebrand to Bitget Wallet took place in August as
part of a broader integration with the Bitget crypto derivatives exchange to
bridge CeFi and DeFi.
The post on
Bitget Wallet’s blog additionally featured a summary of the entire year 2023. In the
last 12 months, Bitget Wallet introduced an enterprise-grade multi-party
computation “keyless” wallet, offering users secure and convenient
Web3 services. Bitget Wallet now supports hardware wallet connections for
private key control and regularly undergoes security audits.
The user
base of the wallet exceeded 12 million, and in Q4 2023, it was the fourth most
popular among other crypto wallets in terms of downloads.
🎉 Pop a champagne, 2023 has been a tremendous year for #BitgetWallet!
Brand upgrade, Multi-Chain Ecosystem, MPC Wallet, Task2Get, GetShield Security, And more!
🎆 Join us for an even more exciting 2024 as we seize new assets and market trends together:https://t.co/xK66a84xQf pic.twitter.com/1qW0RSkyaW
— Bitget Wallet 🩵 (Formerly BitKeep) (@BitgetWallet) December 29, 2023
“We
will continue to enhance product capabilities and deliver high-quality on-chain
asset services, assisting users in their Web3 exploration journey,” Kan
concluded.
The Bitget
exchange further summarized its 2023, noting an increase in user base by 12
million new traders and achieving an increase of 94% in spot volumes.
✨ Stepping into 2024 with a recap of 2023’s #crypto journey – victories, challenges, and thrilling developments. Uncover the pivotal events steering the market’s path!
Dive into @GracyBitget‘s open letter for insights on this year’s transformative breakthroughs!
— Bitget (@bitgetglobal) January 3, 2024
At the end of
last year, it unveiled a plan focusing on product research, development, and
increased investments.
Bitget
Wallet, a Web3 crypto wallet formerly known as BitKeep, has launched a new
“Smart Money” feature powered by artificial intelligence. This tool
tracks over 6,000 high-performing crypto addresses on networks like Ethereum to
identify potential trading signals and market trends.
The
cryptocurrency exchange Bitget’s wallet also summarized 2023, during
which it underwent rebranding, and its global user count exceeded 12 million.
The Smart
Money feature provides traders with real-time data on the activities of
historically successful crypto traders and investors, referred to as
“whales.” This includes info on the assets being traded, transaction
volumes and prices, number of holding addresses, and more.
According
to Bitget Wallet’s COO, Alvin Kan, the goal is to “empower users to
preemptively discern market trends, promptly uncover investment opportunities,
and consequently bridge the gap between ordinary investors and Smart
Money.”
The wallet
plans to expand the feature to additional blockchains, such as BNB Chain,
Solana, Polygon, and Avalanche. Bitget Swap, the wallet’s built-in DEX
aggregator, already supports trading on nearly 30 networks.
Kan
highlighted the importance of intelligent market data for discovering new
assets and trends early. He stated the wallet aims to provide users with
“a rich selection of on-chain assets and robust on-chain trading services,
enabling them to seize these new opportunities.”
Bitget Wallet’s 2023 in
Recap
Bitget
acquired a controlling stake in the wallet, formerly known as BitKeep, for $30
million in March 2023. The rebrand to Bitget Wallet took place in August as
part of a broader integration with the Bitget crypto derivatives exchange to
bridge CeFi and DeFi.
The post on
Bitget Wallet’s blog additionally featured a summary of the entire year 2023. In the
last 12 months, Bitget Wallet introduced an enterprise-grade multi-party
computation “keyless” wallet, offering users secure and convenient
Web3 services. Bitget Wallet now supports hardware wallet connections for
private key control and regularly undergoes security audits.
The user
base of the wallet exceeded 12 million, and in Q4 2023, it was the fourth most
popular among other crypto wallets in terms of downloads.
🎉 Pop a champagne, 2023 has been a tremendous year for #BitgetWallet!
Brand upgrade, Multi-Chain Ecosystem, MPC Wallet, Task2Get, GetShield Security, And more!
🎆 Join us for an even more exciting 2024 as we seize new assets and market trends together:https://t.co/xK66a84xQf pic.twitter.com/1qW0RSkyaW
— Bitget Wallet 🩵 (Formerly BitKeep) (@BitgetWallet) December 29, 2023
“We
will continue to enhance product capabilities and deliver high-quality on-chain
asset services, assisting users in their Web3 exploration journey,” Kan
concluded.
The Bitget
exchange further summarized its 2023, noting an increase in user base by 12
million new traders and achieving an increase of 94% in spot volumes.
✨ Stepping into 2024 with a recap of 2023’s #crypto journey – victories, challenges, and thrilling developments. Uncover the pivotal events steering the market’s path!
Dive into @GracyBitget‘s open letter for insights on this year’s transformative breakthroughs!
— Bitget (@bitgetglobal) January 3, 2024
At the end of
last year, it unveiled a plan focusing on product research, development, and
increased investments.
Crypto
Crypto mogul Do Kwon sentenced to 15 years in prison over $40B ‘epic fraud’
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for for what a judge called an “epic fraud.”
U.S. District Judge Paul A. Engelmayer, who handed down the sentence, sharply rebuked Kwon for repeatedly lying to everyday investors who trusted him with their life savings.
“This was a fraud on an epic, generational scale. In the history of federal prosecutions, there are few frauds that have caused as much harm as you have, Mr. Kwon,” Engelmayer said during a hearing in Manhattan federal court.
Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty and admitted to misleading investors about a coin that was supposed to maintain a steady price during periods of crypto market volatility.
He is one of several cryptocurrency moguls to face federal charges after a slump in digital token prices in 2022 prompted the collapse of a number of companies.
Dressed in yellow prison garb, Kwon addressed the court and apologized to his victims, including the hundreds who submitted letters to the court describing the harm they had suffered.
“All of their stories were harrowing and reminded me again of the great losses that I’ve caused. I want to tell these victims that I am sorry,” Kwon said.
Ayyildiz Attila, one of the hundreds of victims who submitted letters to the court, said he lost between $400,000 and $500,000 in the collapse.
“My savings, my future, and the results of years of sacrifice disappeared. I struggled to keep up with payments and responsibilities, and everything I had worked forwas erased,” Attila said.
Kwon’s lawyer Sean Hecker said in an email after the sentencing that Kwon spoke from the heart, expressed genuine remorse and will continue his efforts to make amends.
US Attorney Jay Clayton in Manhattan said in a statement following the hearing that Kwon devised elaborate schemes to inflate the value of his cryptocurrencies and fled accountability when his crimes caught up to him.
Prosecutors had asked for a sentence of at least 12 years in prison, saying the crash of Kwon’s Terra cryptocurrency caused billions of dollars in losses and triggered a cascade of crises in the crypto market.
Kwon’s lawyers had asked that he be sentenced to no more than five years so he can return to South Korea to face criminal charges.
Prosecutors charged Kwon in January with nine criminal counts for securities fraud, wire fraud, commodities fraud and money laundering conspiracy.
Kwon was accused of misleading investors in 2021 about TerraUSD, a so-called stablecoin designed to maintain a value of $1. Prosecutors alleged that when TerraUSD slipped below its $1 peg in May 2021, Kwon told investors a computer algorithm known as “Terra Protocol” had restored the coin’s value.
Instead, Kwon arranged for a high-frequency trading firm to secretly buy millions of dollars of the token to artificially prop up its price, according to charging documents.
Kwon pleaded guilty in August to two counts, conspiracy to defraud and wire fraud, and apologized in court for his conduct.
“I made false and misleading statements about why it regained its peg by failing to disclose a trading firm’s role in restoring that peg,” Kwon said at the time. “What I did was wrong.”
Kwon agreed in 2024 to pay $80 million as a civil fine and be banned from crypto transactions as part of a $4.55 billion settlement he and Terraform reached with the Securities and Exchange Commission.
He also faces charges in South Korea. As part of his plea deal, prosecutors will not oppose Kwon’s potential application to be transferred abroad after serving half his US sentence.
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