Month: September 2022

‘Love Island’ Twins’ Crypto Instagram Posts Misled Viewers, UK Ad Authority Says

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US Bank Watchdog Says Heโ€™s Not Budging on Crypto Distrust

Recent events have reinforced that position, he said Wednesday at a Clearing House and Bank Policy Institute conference โ€“ one of the largest annual events to discuss banking policy. Hsu cited the collapse of Terra and the LUNA token in May, which he said โ€œsparked contagion across cryptocurrencies, resulting in several crypto platforms failing, forcing numerous exchanges to close, and driving large losses and reductions of staff at a number of publicly traded companies.โ€ Source

Signature Bankโ€™s Crypto Outflows Mitigated by Growth in Core Deposits, Wedbush Says

The $4.3 billion contraction in crypto-related deposits was steeper than estimated, but not a surprise, Raymond James said in a report, also on Tuesday.The bankโ€™s growth is not dependent on โ€œdigital currency ecosystem growth,โ€ the note said, adding that while the firmโ€™s exposure to the cryptocurrency ecosystem remains a headwind, since the end of 2019 it has grown loans at an annualized rate of 25.4% and deposits (ex-digital assets) by 26.3%. Source

Analyst Warns US Debt Crisis Is Possible โ€” Rising Treasury Yields, Inflation, Stock Market Rout Could Cause ‘Multiple Black Swans’ โ€“ Economics Bitcoin News

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Wall Streetโ€™s major indexes closed the day in red on Tuesday, alongside cryptocurrencies, and precious metals like gold and silver taking some percentage losses. The leading crypto asset bitcoin dropped 5.87% under the $19K region, while the second largest crypto asset ethereum shed 8.7%. Goldโ€™s nominal U.S. dollar value per troy ounce slipped by 0.50%, while silver dropped by 0.74% on September 6. Meanwhile, a recent rise in U.S. Treasury yields has been concerning and one analyst thinks the anomaly could spark an American debt crisis. Stocks Sink Lower, Crypto…

Ether y cardano lideran una fuerte caรญda ante un dรณlar estadounidense que se fortalece

La preocupaciรณn por el fuerte endurecimiento monetario de la Reserva Federal de los Estados Unidos (Fed, por sus siglas en inglรฉs) hizo que el dรณlar escalara durante la noche y que, por un lado, alcanzara el mรกximo de 24 aรฑos frente al yen japonรฉs y, por el otro, estableciera un pico sin precedentes frente a la rupia india. El martes, el S&P 500 perdiรณ 0,4% y el Nasdaq 100, 0,7% debido a la caรญda de las acciones tecnolรณgicas. Source

Bitcoin Price (BTC) Slides Under $19,000 — The First Time Since July 4

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Bitcoin price traded below $19,000 on Wednesday morning, as the leading cryptocurrency plummeted to its lowest level since July, due to a decline in global stock markets and the U.S. dollarโ€™s sustained strength. As of this writing, Bitcoin (BTC) is trading at $18,741, down 5.5% in the last seven days, data from Coingecko show, Wednesday. The last time Bitcoin fell below $19,000 was on July 4, when its price reached $18,600. The current level is a 25% correction from the August 15 rally to $25,000. Prior to reaching $18,600, BTC…

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Crypto Lender Celsius Resembled Ponzi Scheme at Times, Vermont Regulator Says

“During the course of the multistate investigation, it has become clear that Celsius, through its CEO Alex Mashinsky and otherwise, made false and misleading claims to investors about, inter alia, the companyโ€™s financial health and its compliance with securities laws, both of which likely induced retail investors to invest in Celsius or to leave their investments in Celsius despite concerns about the volatility of the cryptocurrency market,” the filing said. Source

Bitcoin Bets Look Bearish as Futures Trading Hits Record Level

The bitcoin-denominated open interest in futures and perpetuals (futures with no expiry) tied to the largest cryptocurrency has risen to a new record high of 565,579 BTC ($10.6 billion), surpassing the previous peak of 548,096 BTC reached in February 2020, according to Arcane Research. The data covers positions on traditional commodities exchanges such as CME as well as crypto exchanges like Binance and Bybit. Source

Mt. Gox creditors fail to set repayment date, but markets to remain unaffected

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Eight years ago, in 2014, the crypto world was rocked by the crippling hack of Mt. Gox, a popular Bitcoin (BTC) exchange, which was forced to shut down after miscreants were able to make away with approximately 850,000 BTC, worth more than $16 billion at todayโ€™s exchange rates.ย  At the time of the incident, the Tokyo-based exchange was the worldโ€™s largest cryptocurrency trading ecosystem, processing over 70% of the crypto marketโ€™s daily Bitcoin trading volume. However, due to its lack of quality security protocols, hackers were able to make their…