Bitcoin (BTC) and Ether (ETH) recovered a large part of the losses that happened due to the knee-jerk reaction to China’s regulatory crackdown on Sept. 24. This suggests that crypto markets have absorbed the news-based selling, with long-term investors likely using the dip to accumulate. However, a rally may have to wait as market participants
Last week’s drop in Bitcoin (BTC) that saw BTC price falling from $47,358 to $43,178 has sparked fears of an extended selloff. Independent market analyst Nunya Bizniz highlighted a bearish fractal on Bitcoin’s weekly charts concerning its 21-week exponential moving average (EMA). In detail, the cryptocurrency has closed below the said support zone 18 times to date but
Ethereum (ETH) developer Virgil Griffith has pleaded guilty to a federal charge that he conspired with North Korea to violate United States sanctions law. On Monday, Griffith pleaded guilty in New York to conspiring to violate the International Emergency Economic Powers Act, which forbids U.S. citizens from exporting technology and intellectual property to communist countries.
Major cryptocurrency exchanges are cutting ties with users in China following the latest crypto crackdown announcement by the Chinese government. Huobi has stopped letting new users in China sign up for its services while Binance has blocked account registrations using Chinese mobile phone numbers. Major Crypto Exchanges Stop Signing Up Chinese Users Following China’s latest
Bitcoin bulls continued to battle with bears near the $43,000 support level on Sept. 27 as China’s crackdown on all things cryptocurrency put a halt to last week’s positive price movements and has stifled growth into the day. According to Eric Krown, a cryptocurrency trader and host of Krown’s Crypto Cave, what comes next for
Sparkpool, the second-largest Ethereum mining pool in the world, is suspending operations due to the ongoing Chinese crackdown on crypto. The mining pool officially announced Sept. 27 it has suspended access to new users in mainland China in response to Chinese authorities initiating new measures to combat crypto adoption in the country. Following initial restrictions
According to Reuters, Pelosi expressed confidence the legislation will pass upon announcing the date on Sunday, Sept. 26, stating: “Let me just say that we’re going to pass the bill this week.” Earlier that same day she reportedly indicated she would not bring the bill to a vote unless she believed it would pass. Speaker
A new stablecoin is arriving on the Cardano blockchain to provide a tool for decentralized finance (DeFi) operations and avoid transaction fees. Cardano’s payment gateway provider Coti will be the official issuer of Djed, a new DeFi-focused stablecoin for the Cardano network, Cardano founder Charles Hoskinson and Coti CEO Shahaf Bar-Geffen announced Sept. 26 at
Netflix, the world’s largest video streaming company, has announced it is working on a documentary that deals with the aftermath of the Quadrigacx saga. According to brief descriptions, the documentary titled; “Trust No One: The Hunt for the Crypto King,” deals with how the users affected by the death of Quadrigacx’s CEO Gerry Cotten try
The uncertainties sparked by China’s blanket ban on crypto trading have taken a downturn as homegrown crypto exchanges such as Houbi take proactive measures to protect and return existing investments residing on the mainland. Speaking to Cointelegraph in this regard, Du Jun, co-founder of Huobi Group, said that the crypto exchange wants to ensure the
Acting head of the U.S. Office of the Comptroller of the Currency (OCC) Michael Hsu has warned that the exotic financial products developed in some quarters of crypto and DeFi were reminiscent of those that precipitated the 2008 Global Financial Crisis (GFC). Speaking before the Blockchain Association on Sept. 21, Hsu warned that “innovation for
Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” has predicted a “giant stock market crash” coming in October. He believes that “bitcoin may crash too.” The famous author also offered his opinion on China’s crackdown on cryptocurrencies. Robert Kiyosaki Warns of ‘Giant’ Market Crash in October Famous author and investor Robert Kiyosaki has
China has attempted to stifle the crypto sector’s growth on several occasions in the past 12 years but barring a minor blip, the blanket bans on crypto-commerce have not altered the long-term growth of cryptocurrencies. This shows that no one country, even if it is the second-largest economy in the world, can halt the emergence
The competition among layer-one (L1) smart contract platforms has been on the rise in the past couple of months as traders and developers continue to embrace Ethereum (ETH) network alternatives that offer faster transaction times and lower fees. According to a recent report from Delphi Digital, the price of Ether has remained relatively flat over
The rapid adoption of cryptocurrencies like Bitcoin (BTC) poses a major challenge for the traditional financial system, an executive at the Chinese central bank has warned. Wen Xinxiang, director of the payment and settlement department at the People’s Bank of China (PBoC), has expressed concerns over the growing popularity of cryptocurrencies and fiat-pegged stablecoins. Pointing
The scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities to investigate Suex’s connections with financial companies