Bitcoin (BTC) and the United States equities markets are trying to start the week on a positive note, but some analysts are skeptical about the short-term prospects of the markets. According to Bloomberg Intelligence senior macro strategist Mike McGlone, Bitcoin will face significant resistance at $25,000. McGlone believes that it “may be a while before buy-and-hold
Some cryptocurrencies are inflationary because the supply of coins increases over time. Inflationary cryptocurrencies use a combination of predetermined inflation rates, supply constraints, and mechanisms for distributing tokens to maintain the supply and incentivize participation in the network. Looking at their monetary systems, cryptocurrencies have various coin-creation and supply mechanisms. Inflationary cryptocurrencies have a steadily
Robinhood Markets has revealed thait had received an investigative subpoena from the United States Securities Exchange Commission (SEC) over its digital asset business’ crypto listings, custody and platform operations. In a 10-K filing, the brokerage said it received the investigative subpoena in December shortly after crypto exchange FTX filed for bankruptcy in November, and after “several
Following a brief downturn in mid-February 2023, artificial intelligence (AI) crypto assets have continued to see gains over the last 30 days. Currently, out of 74 listed AI-focused cryptocurrencies, the net value of all these tokens has risen to more than $4 billion, which accounts for 0.37% of the entire crypto economy’s value. Majority of
Bitcoin (BTC) keeps pushing for a bullish end to February as the monthly close starts another week’s price action. The largest cryptocurrency looks set to preserve its gains as it closes the second month of 2023 — and keeps bulls’ hopes alive. Can the good times continue? The coming week could mean decision time for
Bitcoin (BTC) headed toward $24,000 at the Feb. 27 Wall Street open as a strong weekly close translated into further gains. Bitcoin gains $1,000 versus weekend lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding in line with United States equities futures. The pair had seen lows of $22,770 on Bitstamp over the
The suspected actors behind the $6 million exploit of decentralized finance lending protocol Lendhub have just sent more than half of their ill-gotten gains from January into sanctioned crypto mixer Tornado Cash. Blockchain security firms PeckShield and Beosin alerted their respective followers to the movement of funds on Feb. 27, noting that around 2,415 Ether
Binance branded stablecoin, Binance USD (BUSD), is a dollar-backed stablecoin issued by blockchain infrastructure platform Paxos Trust Company, and is the third largest stablecoin after Tether’s (USDT) and Circle’s USD Coin (USDC). Paxos has claimed in the past that BUSD is fully backed by reserves held in either fiat cash or United States Treasury bills.
Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers’ or consultants’ fees. Between Jan. 23, 2023, and the date of their appointment, liquidators claimed to have recovered approximately $770,000 which belonged to MTI. Liquidators’ Fees Liquidators of the collapsed bitcoin Ponzi
Crypto exchange Coinbase has been named as a defendant in a legal complaint brought by NanoLabs — the company behind the digital currency Nano (NANO) — over alleged trademark infringement. In the Feb. 24 filing with the California Northern District Court, NanoLabs alleged Coinbase’s Nano Bitcoin futures contract and Nano Ether futures contract products infringe
Liquid staking protocol Lido Finance has pushed the big red button in order to activate a protocol safety feature called “Staking Rate Limit” after more than 150,000 Ether was staked with the protocol in a single day. Lido is a liquid staking solution for digital assets, in this case allowing users to stake Ether (ETH)
Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm. Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and
Bitcoin (BTC) sought to end the week above $23,000 into the Feb. 26 close as concerns heightened over stubborn resistance. BTC price bulls keep faith in $30,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $23,318 on the day, up $600 from its weekend lows. The latest move marked a modest comeback after
U.S. Treasury Secretary Janet Yellen says “it is critical to put in place a strong regulatory framework” for crypto on the sidelines of the G20 meeting for finance ministers and central bank governors. “We haven’t suggested outright banning of crypto activities,” Yellen added. Janet Yellen on ‘Strong’ Crypto Regulation U.S. Treasury Secretary Janet Yellen talked
Ukraine has received over $70 million in cryptocurrencies since the start of the Russian-Ukrainian conflict, providing the nation with funds for military equipment and humanitarian assistance. The figures came from a Feb. 24 report by blockchain data platform Chainalysis, which found the majority of the funds to have come in the form of Ether (ETH) and
The cryptocurrency markets and the United States equities markets witnessed profit-booking this week as the macroeconomic data hinted toward continued rate hikes by the Federal Reserve. Bitcoin (BTC) is down more than 4% and the S&P 500 fell 2.7% to record its worst week of the year. The CME FedWatch Tool shows a 73% probability
The Financial Stability Board (FSB), the International Monetary Fund (IMF), and the Bank for International Settlements (BIS) will deliver papers and recommendations establishing standards for a global crypto regulatory framework, the group of the 20 biggest economies of the world — collectively known as G20 — announced on Feb. 25. According to a document summarizing
While several market strategists and analysts expect U.S. inflation to drop considerably in 2023 compared with last year, Michael Wilkerson, founder of Stormwall Advisors, thinks the inflation rate could climb as high as 12% by the end of this year. The country’s inflation rate has cooled down over the past seven months, but Wilkerson insists
In a recent interview, Grayscale Investments’ CEO Michael Sonnenshein stated he “can’t imagine” why the United States Securities and Exchange Commission (SEC) “wouldn’t want” to protect Grayscale investors and return the true asset value to them. In a Feb. 25 interview on What Bitcoin Did, a popular podcast hosted by Peter McCormack, Sonnenshein explained that
Over $2.5 billion was stolen in cross-chain crypto bridge hacks from 2021 to 2022, according to a report by Token Terminal. But, despite several attempts by developers to improve bridge security, a debate from December 2022 to January 2023 on the Uniswap DAO forums has laid bare security weaknesses that continue to exist in blockchain bridges.