Month: August 2022

Meme Coin CateCoin Silently Balloons Over 250%

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CateCoin (CATE) is doing the cat walk as it skyrockets by over 250% amid the crypto market’s bizarre movement. The slow yet steady gains of CATE shows how low market cap coins can advance and give decent rewards. CATE Pumps Up Price by 16.63% According to CoinMarketCap, CATE meme coin is rising steadily as it pumps the price by 16.63% or 0.000001057.  More so, CATE has spiked in price triggered by the increase in trading activity and hype coming from social media. Judging by the current technical analysis on the…

Senators Stabenow, Boozman introduce crypto bill that extends CFTC’s regulatory powers

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United States Senate Agriculture Committee chair Debbie Stabenow and ranking member John Boozman introduced the Digital Commodities Consumer Protection Act bill on Wednesday. The bill has been expected for several months. Like the Digital Commodities Exchange Act (DCEA) introduced into the House of Representatives by members of the House Agriculture Committee in April, the new bill enlarges the role of the Commodity Futures Trading Commission (CFTC). The new bill is not the companion to the DCEA, however. According to the summary, the bill’s definition of digital commodities “includes Bitcoin and Ether and excludes certain…

Why The Crypto Fear & Greed Index Points To Sustainable Recovery

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The crypto fear and greed index shows that while investors are still cautious, the market sentiment is nonetheless making sustainable recovery. Crypto Fear And Greed Index Surges Up, But Remains In “Fear” Territory As per the latest weekly report from Arcane Research, the market sentiment rose to the best sentiment since April of this year on Saturday. The “fear and greed index” is an indicator that measures the general sentiment among investors in the crypto market. The metric uses a numeric scale that runs from zero to hundred for representing…

Nifty Newsletter, July 27–Aug 2

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In this week’s newsletter, read about how Binance started its nonfungible token (NFT) ticketing service by partnering with a sports club. Check out the NFT exchange-traded fund (ETF), which was released by trading platform KuCoin and how Google AI was able to paint BAYC-inspired NFTs. In other news, learn about how much the NFT community spent in minting NFTs in the first half of 2022 and check out the upcoming NFT album by British rock band Muse. And, don’t forget about this week’s Nifty News roundup featuring Dr DisRespect’s NFT…

Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data – Regulation Bitcoin News

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The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities. ESMA Launches Public Procurement for Providers of Crypto Trading Data The securities watchdog of the European Union, ESMA, is preparing to increase scrutiny on transactions involving cryptocurrencies, a public tender has indicated. On Tuesday, the authority launched a procurement procedure for suppliers of trading data on crypto transactions including…

Stellar Announces “Soroban”, XLM Reacts With 10% Profits

The Stellar (XLM) Development Foundation celebrated the launch of a preview for their upcoming smart contract platform, called “Soroban”. As part of their “Project Jump Cannon”, the initiative behind the development of the platform, the organization has invited developers to create their own contracts. Soroban’s announcement has been highly anticipated by Stellar (XLM) users. This platform might provide the network with new use cases, and a new wave of adoption, and might provide it with the capabilities to compete with major blockchains, such as Ethereum. Per an official post, Stellar’s…

Banks Aren’t Going to ‘HODL’ Bitcoin

The 1% exposure limit applies only to Group 2 assets. It means that because Group 2 assets are extremely risky, banks won’t be allowed to have much in the way of exposure to them. In the example above, J.P. Morgan has Tier 1 capital of 13.7% of total risk-weighted assets. So for J.P. Morgan, total Group 2 crypto asset holdings (including bitcoin) can’t be more than 0.137% of its total risk-weighted assets – and considerably less of its total assets unweighted for risk. Admittedly, for a bank the size of…

MicroStrategy stock MSTR hits 3-month high after CEO’s exit

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MicroStrategy (MSTR) stock opened higher on Aug. 3 as investors digested the news of its CEO Michael Saylor’s exit after a depressive quarterly earnings report. Microstrategy stock up 142% since May lows  On the daily chart, MSTR’s price surged by nearly 14.5% to $324.55 per share, the highest level since May 6. The stock’s intraday gains came as a part of a broader recovery that started on May 12 at $134. Since then, MSTR has grown by 142% versus Nasdaq’s 26.81% gains in the same period. MSTR daily price chart.…

Lessons From the Turkish Government’s Hasty Attempt to Regulate Cryptocurrencies

The bill, which suggested significant restrictions on investing and using cryptocurrencies, should be opposed. Crypto adoption has accelerated in Turkey over the past two year, in part due to high inflation. My co-author and I believe that restricting crypto is a restriction on freedom, and is not only ethically and constitutionally wrong but also would worsen the country’s capital outflow problem rather than solving it. Source