Month: January 2022

Crypto predictions platform Polymarket fined $1.4M by CTFC

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New York-based crypto predictions platform Polymarket has reached a settlement with the Commodity Futures Trading Commission (CFTC) to pay a fine of $1.4 million. Polymarket is a decentralized platform that enables users to bet on the outcomes of event markets such as pro-sports games and political elections via binary options contracts. On Jan. 3, the CFTC announced that it had entered an order filing and simultaneously settling charges against Polymarket, with the platform found to have operated an “illegal unregistered or non-designated facility” since June 2020. Under the order, Polymarket…

The number of countries banning crypto has doubled in three years

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Although 2021 was a good year for the cryptocurrency industry in terms of market performance, the number of jurisdictions banning crypto has more than doubled since 2018. A report by the Library of Congress (LOC) details the nine jurisdictions that have now applied an absolute ban on crypto and the 42 with an implicit ban. This is up from eight and 15 respectively in 2018 when the report was first published. The LOC is the research library for the United States Senate, acting as the national library for the country.…

This key trading pattern hints at the continuation of Fantom’s (FTM) 125% rebound

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Fantom (FTM) looks poised to hit a new record high in the coming sessions after its 125% price rebound from $1.23 on Dec. 14, 2021, to $2.84 on Jan. 3, 2022 triggered a classic bullish reversal setup.  Dubbed inverse head and shoulders (IH&S), the setup appears when an asset forms three troughs below a so-called neckline resistance, with the middle trough (the head) deeper than the left and right shoulder.  The price of FTM has recently undergone a similar price trajectory, as shown in the chart below. As a result,…

CFTC Fines ‘Decentralized’ Prediction Market Platform Polymarket $1.4 Million, Shuts Down Noncompliant Markets – Regulation Bitcoin News

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The U.S. Commodity Futures Trading Commission (CFTC) has ordered a “decentralized” prediction market platform to shut down non-compliant markets and pay a fine of $1.4 million. “Polymarket had been operating an illegal unregistered or non-designated facility for event-based binary options online trading contracts, known as ‘event markets,’” said the derivatives regulator. CFTC Takes First Crypto Enforcement Action of the Year The Commodity Futures Trading Commission (CFTC) has taken the first crypto enforcement action of the year in the U.S. The derivatives regulator announced that it entered an order Monday “filing…

First Mover Asia: Bitcoin Slips Under $46K As Volume Across Major Centralized Exchanges Remains Low

(Edited by Greg Ahlstrand) Good morning. Here’s what’s happening: Market moves: Bitcoin opened lower on the first trading day of U.S. equities market, while the stock market gained with Apple briefly hitting a $3 trillion market capitalization. Technician’s take: Price indicators suggest limited downside for BTC over the short-term as selling pressure slows. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin (BTC): $46,343 -2.29% Ether (ETH): $3,755 -1.84$ Markets S&P 500: 4,796 +0.64$ DJIA: 36,5856 +0.68% Nasdaq: 15,832 +1.2% Gold:…

3 reasons why Phantasma (SOUL) is chasing after new all-time highs

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Nonfungible tokens and blockchain-based gaming projects saw a breakout in popularity over the course of 2021. This was due to their widespread appeal which attracted the attention of crypto newbies and experienced hodlers alike. This trend helped to further initiate the mass adoption of blockchain technology and from the look of things, its likely to extend throughout 2022.  One project is making moves in 2022 is Phantasma (SOUL), a layer-one blockchain protocol that specializes in the creation of SmartNFTs and decentralized gaming applications. Its prices reflect that it’s about to make…

Turkey’s Inflation Jumps to 36%, Lira’s Value Plummets, Citizens Flock to Stablecoins – Economics Bitcoin News

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Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Original

Happy Birthday, Bitcoin! Industry players share a few words

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To celebrate the Bitcoin network ‘s 13th anniversary, Cointelegraph gathered birthday messages from industry players to mark the occasion. Following a hash rate all-time high, Bitcoin (BTC) has officially reached its adolescent years and industry experts weigh in on its future. Beimnet Abebe, VP of Principal Trading at Galaxy Digital: “13 years ago Bitcoin was released. Although its creation garnered little fanfare, drawing the eyes and attention of only a few esoteric coders, its release would prove monumental, enabling anyone, anywhere in the world to access digitally scarce money for the first…

Ethereum Inventor Starts 2022 Revisiting Ideas, Where Was He Wrong?

The inventor of Ethereum Vitalik Buterin has come out of a self-imposed Twitter hibernation period, as he called via his personal account. On his first post of 2022, Buterin reviewed some of the ideas, proposals, and thoughts from this past decade to find if he maintains the same position as when he first talked about them. Related Reading | TA: Ethereum is Showing Early Signs of Fresh Rally, But 100 SMA is the Key The inventor of Ethereum listed over 10 ideas, many of which have been a source for controversy…