800k ETH Exits From Gemini

On-chain data shows around 800k ETH has exited wallets of the crypto exchange Gemini, a sign that could prove to be bullish for Ethereum. Crypto Exchange Gemini Observes outflows Of 800k ETH As pointed out by an analyst in a CryptoQuant post, the Ethereum exchange reserve has plunged down to lows not seen since 2018. The “all exchanges reserve” is an indicator that measures the total amount of Ethereum currently stored on wallets of all centralized exchanges. When the value of this metric goes down, it means the number of…

California again allows crypto contributions to state, local political campaigns

Candidates for state and local offices in California will once again be allowed to accept donations in cryptocurrency after a ban was lifted by the state’s Fair Political Practices Commission (FPPC) on Thursday. The ban was imposed in 2018. California was one of nine states that had banned political contributions in crypto due to perceived transparency and Know Your Customer (KYC) issues. The question of contributions in crypto was revived in March when the commission issued an opinion on the sale of nonfungible tokens (NFTs) for campaign fundraising. In May,…

Bitcoin Balance On Exchanges Soars, BTC Price Displays Weakness

Bitcoin has been unable to break above key resistance levels at around $23,000. As a consequence, the cryptocurrency has been moving sideways over the past two days while preserving some of its gains over the past week. The slowdown in bullish momentum coincides with an increase in asks (sell orders) liquidity for BTC’s price above its current levels and a spike in BTC’s supply inflows on crypto exchange platforms. On short timeframes, there are over $70 million in sell orders for Bitcoin from $23,000 to $24,000. Related Reading | Crypto Market…

SEC Slaps Former Coinbase Manager With Insider Trading Charges — Identifies 9 Crypto Tokens as Securities – Regulation Bitcoin News

The U.S. Securities and Exchange Commission (SEC) has announced insider trading charges against a former Coinbase manager, who has been arrested and is also facing criminal charges. The regulator has identified nine crypto tokens as securities in the complaint. U.S. Attorney Damian Williams says it is “the first-ever insider trading case involving cryptocurrency markets.” SEC Charges Former Coinbase Manager, His Brother, and a Friend — 9 Crypto Tokens Identified as Securities The U.S. Securities and Exchange Commission (SEC) announced Thursday “insider trading charges against a former Coinbase product manager, his…

Crypto market cap climbs 15% in a week following Ethereum Merge date revelation

It has been a volatile yet positive week for cryptocurrencies, as traders ignored the warnings from crypto winter veterans that there was more downside in store and jumped back into the market at the first sign of rising prices.  Evidence for the reversal in sentiment can be found in the Crypto Fear & Greed Index, which has climbed into the fear zone after spending a record time in the extreme fear territory due to collapsing prices in May and June. Crypto Fear & Greed Index. Source: Alternative As for what…

Bitcoin’s $18k Level Probably Constitutes a Bottom and Will be Retested, says Bitmex’s Hayes

Summary: Arthur Hayes has forecasted that Bitcoin’s most recent low, around $18k, could constitute a bottom. According to his analysis, a classic bottom is usually tested before a bull market begins, and $18k is no different. He sees the rally from $18k levels to $24k as a potential ‘short covering.’ He anticipates a proper Bitcoin bottom before the US Fed or Treasury announces a policy change. Bitmex’s founder and former CEO, Arthur Hayes, has forecasted that Bitcoin’s most recent lows around the $18k price area probably constitute a bottom. According…

Why DeFi Might Be Safer Than Traditional Finance

The answers are complex, but essentially boil down to specific financial and technical design decisions. Some of these, such as systemic transparency, overcollateralized lending and automated liquidation of borrowers, are inherent to DeFi. Other features, including “tokenomics” and governance, can vary dramatically between systems – and go a long way to explaining why not all DeFi is created equal. Source