Day: November 8, 2022

Crypto fans should get behind Elon Musk’s subscription model for Twitter

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Like many people, I was originally dubious of Elon Musk’s takeover of Twitter given his historic tendency to make bold promises but later back away. That said, there is merit to his idea of adding a subscription layer to Twitter and using it to both improve curation and diversify away from advertising. If you believe in the core values of crypto, you should believe in it. To see why, we need to revisit the basics of Bitcoin (BTC). Most people focus their attention on the coin, but the more remarkable…

US Treasury redesignates Tornado Cash sanctions, citing North Korea nuclear weapons program

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The United States Treasury Department’s Office of Foreign Asset Control, or OFAC, has amended the sanctions on cryptocurrency mixer Tornado Cash in addition to including two individuals involved in “transportation and procurement activities” for the Democratic People’s Republic of Korea in its list of Specially Designated Nationals. In a Nov. 8 announcement, the Department of the Treasury said it had “delisted and simultaneously redesignated” Tornado Cash in addition to taking into account activities conducted by North Korean nationals Ri Sok and Yan Zhiyong in its basis for sanctions. The government…

Coinbase and Kraken experience limited services amid markets turbulence

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Both Coinbase’s and Kraken’s platforms were down or experiencing intermittent latency issues on Nov. 8 amid market turbulence, according to users’ complaints on Twitter. The news followed the day’s earlier revelation that crypto exchange Binance intends to acquire its rival FTX. According to Twitter users, services were limited on both exchanges, with issues related to connectivity to the platforms and unconfirmed rumors of halted withdrawals. BREAKING: Coinbase is DOWN! Several services are down right now. Now y’all seeing real bear market dealings — MASON VERSLUIS (@MasonVersluis) November 8, 2022 On…

US Midterm Elections to Set the Tone for Bitcoin Miners’ Future

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However, the the Republicans have been a supporter of bitcoin mining and crypto in general. “Although the mining industry has tried to promote a bipartisan approach to lobbying, support has mostly come from right wing or center politicians,” said Ethan Vera, COO at mining services firm Luxor Technologies. “Republicans are less likely to push the more stringent direction proposed in White House paper released in early September,” Vera said. Original

FED RATE HIKE TODAY. SENATOR ELIZABETH WARREN SAYS STOP! RECESSION?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io The federal reserve rate hike will be 75 BPS and probably no pivot talk. Senator Warren says everyone should SLOW DOWN plus some good news (Recession is coming). LINKS ZERO HEDGE – ●▬▬▬▬▬▬ Help Puerto Rico! ▬▬▬▬▬▬▬● 🙏HELP Puerto Rico! (ANYTHING HELPS!) ⭐️ DONATE TO PR – 1st Option – ⭐️ PAY IN CRYPTO at ProTechos – 2nd Option – 🏚 PROTECHOS – ●▬▬▬▬▬▬ LINKS FOR LIVE STREAM Plus Q&A ▬▬▬▬▬▬▬● 👀 WATCH TODAY’S LIVESTREAM HERE 👉 👀 WATCH Q&A FROM Today’s…

Bitcoin Records Fresh Market Low At $17K, Was This The Bottom?

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The crypto market is trading in the red, with Bitcoin and other cryptocurrencies recording double-digit losses over today’s trading session. The number one cryptocurrency retraces its profits from last week and fallback into a new yearly low. At the time of writing, Bitcoin (BTC) trades at $18,200, with a 13% loss in the last 24 hours and an 11% loss in the previous seven days. Other cryptocurrencies in the crypto top 10 by market cap are following a similar trajectory, with Dogecoin (DOGE) showing the highest losses over this period. …

FTX Token Falls 80% Despite Binance Bailout as Alameda Contagion Spreads to Bitcoin

Broader crypto markets, which mounted a short-lived recovery after the bailout announcement, quickly lost steam and turned sharply lower. The CoinDesk Market Index (CMI), which tracks 162 cryptocurrencies, fell 8% in the last 24 hours. Bitcoin (BTC), the largest cryptocurrency by market capitalization, tumbled to $17,114 on the Bitstamp exchange, a 23-month low. The BTC price recovered somewhat to $18,400 but was still down 12% on the day. Source

Bitcoin Bloodbath Takes Crypto To New Bear Market Lows

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In this episode of NewsBTC’s daily technical analysis videos, we examine the bloodbath across crypto today and the new record low for this Bitcoin bear market. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): November 8, 2022 It was a highly volatile day in crypto markets, led by a battle between FTX and Binance that ultimately might end with Binance owning FTX.com. The two company’s CEO’s public spat caused the already fearful crypto market to collapse further. As a result, Bitcoin price made a new bear…

Why is Bitcoin price down today?

After topping the $21,500 mark on Nov. 4, Bitcoin (BTC) price is down by 14% on Nov. 8, reaching a new yearly low at $17,166 and most altcoins are following suit.  While the Binance and FTX news initially caused an uptick in the market, the day turned south as various unconfirmed sources speculate that FTX’s losses could show a $6 billion deficit. This price decline breaks Bitcoin’s short-term correlation to the stock market, with the tech-heavy Nasdaq down only 0.32%, while the Dow Jones gained 0.48% on the back of…