Bitcoin (BTC) traded nearer $17,000 on Jan. 7 after the end of the year’s first trading week delivered a spike higher. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView All eyes on CPI Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it briefly passed the $17,000 mark the day prior. The pair had seen
A crypto lobbying group based in Singapore has voiced its opposition to the proposal from the central bank to prohibit crypto firms from lending crypto tokens. On Oct. 26, Singapore’s central bank issued consultation papers and proposed banning digital payment token service providers from offering “any credit facility” to consumers, including both fiat and cryptocurrencies.
The Thai Securities and Exchange Commission (SEC) has launched a crypto academy where investors can learn about digital assets free of charge before investing. “The more you know your investments, the less risk you will have,” the Thai regulator emphasized. Thai SEC’s Crypto Academy Launched The Thai Securities and Exchange Commission (SEC) announced Wednesday that
The United States December nonfarm payrolls report showed a growth of 223,000 jobs, above the market’s expectation of an increase of 200,000 jobs. While this shows that the economy remains strong, market observers shifted their focus to the slower wage growth of 0.3% for the month, below economists’ expectation of 0.4%. In addition, the euro
The cryptocurrency ecosystem underwent a turbulent year in 2022. Criticism inside and outside of the crypto industry was fueled following the collapse of FTX, Celsius, Three Arrows Capital and the Terra ecosystem. A number of losses have been recorded from these events. Blockchain analytics firm Chainalysis released a report in December of last year, which
Undoubtedly, 2022 was one of the worst years for Bitcoin (BTC) buyers, primarily because the asset’s price dropped by 65%. While there were some explicit reasons for the drop, such as the LUNA-UST crash in May and the FTX implosion in November, the most important reason was the U.S. Federal Reserve policy of tapering and
The legal team for former FTX CEO Sam Bankman-Fried has filed a motion in an effort to stop the exchange’s debtors from controlling more than $450 million worth of shares of Robinhood. In a Jan. 5 court filing regarding FTX’s bankruptcy case, Bankman-Fried’s lawyers said FTX debtors had “failed to carry their heavy burden” establishing
The price of the crypto-focused bank Silvergate Capital’s shares fell by over 40% after it reported a more than $8 billion drop in customer deposits. The share price plunge came just days after U.S. prosecutors reportedly seized collapsed crypto exchange FTX’s accounts held at the bank. Alan Lane, the CEO of Silvergate, denied allegations that
The crypto market witnessed the DeFi summer of 2020, where decentralized finance applications like Compound and Uniswap turned Ether (ETH) and Bitcoin (BTC) into yield-bearing assets via yield farming and liquidity mining rewards. The price of Ether nearly doubled to $490 as the total liquidity across DeFi protocols quickly surged to $10 billion. Toward the
Cathie Wood, veteran investor and CEO of ARK Invest, remains bullish on the cryptocurrency industry and centralized exchanges (CEX) despite the bear market and the crypto crisis. Wood’s investment management firm ARK continues accumulating the stock of the major United States cryptocurrency exchange, Coinbase. On Jan. 5, ARK purchased 144,463 Coinbase (COIN) shares for allocation
The United States Attorney’s Office for the Southern District of New York has launched a page on its website appealing to Sam Bankman-Fried’s alleged victims of fraud at FTX to come forward and informing them about court proceedings. In a Jan. 6 filing, Assistant U.S. Attorney Danielle Sassoon requested the federal court allow her office
Bitcoin (BTC) flashed volatility at the Jan. 6 Wall Street open after fresh United States economic data disappointed risk-asset bulls. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: BTC price in line for $17,000 retest Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $16,669 on Bitstamp around non-farm payrolls and unemployment figures. Both
Decentralized finance (DeFi) is a financial system built on top of blockchain technology that allows for financial services without traditional intermediaries DeFi is open, transparent, and secure, and offers greater financial inclusion and potentially more efficient and cost-effective services Potential drawbacks include complexity, lack of regulation, risk of losses, risk of hacking, and limited adoption
Ethereum was marginally lower on Dec. 6, as markets prepared for this afternoon’s nonfarm payrolls report. December’s report is set to show an addition of 200,000 jobs to the U.S. economy, which would be down from November’s figure of 263,000. Bitcoin was also slightly down ahead of the release. Bitcoin Bitcoin (BTC) continued to hover
Bitcoin (BTC) could be busy forming fundamental support in its current tight trading range, the latest research suggests. In a tweet on Jan. 6, trading platform Trend Rider noticed that $16,800 is becoming an increasingly important BTC price support zone. Point of control establishing below $17,000? Bitcoin’s lack of volatility has led commentators to debate
A group of FTX customers has filed a limited objection to FTX’s plan to sell four independently operated subsidiaries, arguing that they should be privy to the sales process to ensure that customer interests are represented. The group has also shared concerns that “misappropriated customer funds” may have been used to acquire or keep these