Bitcoin (BTC) climbed back above $24,000 at the Feb. 17 Wall Street open as analysis favored “consolidation and continuation” higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin faces key level to “break” bear trend Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering some overnight losses after dipping to $23,369 on Bitstamp. The
Month: February 2023
Ripple has defined Central Bank Digital Currencies (CBDCs) as a key priority in its 2023 projections and goals, and already boasts notable collaborations with several countries. As Bitcoinist reported, in mid-January the fintech company landed the southeastern European country of Montenegro to pilot a digital stablecoin. Already in the second half of last year, Ripple
Most blockchain upgrades have an impact on price action. The Ethereum Shanghai upgrade would be no different. Ether supplies on exchanges have already started to plunge as investors choose to move their assets to self-custody. The previous Ethereum upgrade created good volatility in the market, which traders tapped into. ETH prices skyrocketed from around $1,000
The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in November 2021. Still, the current recovery is notable. Total crypto market cap
Nishad Singh, the co-founder and former chief engineer of bankrupt crypto exchange FTX, is working on a plea deal with prosecutors, Bloomberg reported on Feb. 17. The deal, which would see the 27-year-old Singh plead guilty to charges related to FTX’s collapse, has yet to be finalized, the report said. Singh would be following in the
Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According to unnamed sources familiar with the matter, Nishad Singh, FTX’s former director of engineering, is attempting to negotiate a deal with New York prosecutors. Sources
Bitcoin miner CleanSpark is growing its mining capacity in the United States with the purchase of 20,000 new Antminer S19j Pro+ units for $43.6 million. The acquisition is expected to boost the company’s computing power by 37% and brings the total number of miners purchased during the bear market to 46,500 units. According to a
The upcoming Ethereum Shanghai hard fork is slated to occur in March 2023, and the upgrade will cap off the network’s move to proof-of-stake (PoS), which started during the Merge on Sept. 15, 2022. Once Shanghai is implemented, previously locked Ether (ETH) will gradually become liquid for the first time since December 2020. According to on-chain Etherscan data,
The United States Securities and Exchange Commission has announced a $1.4-million settlement with former NBA player Paul Pierce for allegedly promoting a token project on social media. In a Feb. 17 announcement, the SEC said Pierce touted EthereumMax (EMAX) tokens through social media channels without disclosing he had received payment for the promotion and made
The United States Securities and Exchange Commission (SEC) has started ramping up its crackdown on the crypto industry and recent enforcement actions had a negative impact on crypto prices last week and at the start of this week. The SEC is focusing on stablecoin issuers. The most recent SEC stablecoin crackdown was on Feb. 13
Opera, the Web3 browser, and Unstoppable Domains, the non-fungible token (NFT) domain provider, have announced that users can now access all domain endings, including .x, .crypto, and .nft, across Opera’s browsers. Additionally, Opera and Unstoppable are offering a free .nft domain that matches an Opera user’s Twitter handle after account verification. Opera Expands Web3 Capabilities
The United States Securities and Exchange Commission’s (SEC’s) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to a lawyer. Gabriel Shapiro, general counsel at investment firm Delphi Labs, explained to his 33,800 Twitter followers on Feb. 16 that the SEC’s arguments
A Bitcoin (BTC) price indicator has flashed green for just the fourth time ever this week in a major warning to bears. In a tweet on Feb. 16, crypto market analyst Mohit Sorout announced that the Dollar Cost Average (DCA) Indicator was now “suggesting a raging bull market.” DCA breakout last preceded 640% BTC price
Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022. A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all tokens launched” in 2022 on the BNB Smart Chain and Ethereum blockchains and found thatover 9,900 bore characteristics of a “pump and
Japan, a nation where foreign stablecoins like USDT are prohibited, plans to begin its central bank digital currency (CBDC) pilot in April 2023. It will aim to include private businesses and test an ecosystem. On Feb. 17 the Bank of Japan (BoJ) released the opening speech of its executive director Shinichi Uchida at the CBDC
The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances in the future. Pilot Tests
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