Day: December 14, 2022

Crypto blame game back on US Senators’ menu following SBF arrest

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The arrest of the former FTX CEO Sam Bankman-Fried (SBF) by the Bahamian authorities served as a cue for anti-crypto proponents to reignite discussions around the dangers of cryptocurrencies. While some political leaders blame the crypto ecosystem for SBF’s frauds, others find no point in blaming an entire industry for one man’s action. During an FTX hearing in front of the House Financial Services Committee, Congressman Brad Sherman did not see a difference between SBF and an industry that once boasted a $2 trillion market cap, as he stated: “My fear is that we’ll view…

Binance.US Introduces Pay for US Customers to Enable Instant Crypto Payments with Zero Fees

Binance CEO Changpeng Zhao (CZ) commended the United States business entity and urged them to ‘keep building’. Cryptocurrency exchange Binance.US has announced that registered customers can now use its Pay services at zero cost. In a bid to attract more customers amid the ongoing crypto winter, the largest cryptocurrency exchange by daily traded volume announced that users could send, receive or request payment via 150+ supported digital assets. Following the announcement, Binance native coin BNB gained approximately 2.3 percent in the past 24 hours to trade at about $274.55. Furthermore,…

Bahamian securities regulator slams new FTX CEO over ‘misstatements’

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The Securities Commission of Bahamas has slammed the current CEO of bankrupt crypto exchange FTX John J. Ray III for his statements regarding the ongoing investigation into FTX.  In a press release sent to Cointelegraph, the Bahaman regulator didn’t directly point toward the exact statements of the CEO, but addressed recent reports that suggest the Bahamas’ government asked former CEO Sam Bankman-Fried to create a new multi-million token and hand over the control to them. The said report also alleged Bahamas officials tried to help Bankman-Fried regain access to key…

Binance Resumes USDC Withdrawals after Temporary Pause, Sees Massive Outflows

Crypto exchange Binance has seen massive withdrawals over the last week. Binance, the world’s largest cryptocurrency exchange by trading volumes, has resumed the withdrawal of USDC stablecoin after pausing it temporarily for a few hours. On Tuesday, December 13, Binance had initially paused withdrawals due to a “token swap” and due to inadequate USDC reserves on the platform. Binance and USDC Withdrawals As per the data from Nansen, crypto exchange Binance holds a large majority of stablecoins worth $11.5 million in Paxos-issued BUSD. To increase its USDC reserves, the exchange…

Australia Moves to Tighten Safety Around Crypto in 2023

Significantly, the government will assess which tokens or “digital assets should be regulated by financial services laws” as part of its ongoing ‘token mapping’ work. In August, 2022, Australia’s Treasury announced it would prioritize ‘token mapping’ work which involves uncovering the characteristics of all digital asset tokens in Australia including charting the type of crypto asset, its underlying code, and any other defining technological feature. Source

How to trade crypto using Wyckoff accumulation theory

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On Dec. 2, independent market analyst Stockmoney Lizards said Bitcoin (BTC) had entered the process of bottoming out inside its current $15,500-$18,000 price range, citing Wyckoff Accumulation. Wyckoff Accumulation is a classic technical analysis setup, named after Richard Wyckoff, a technical analysis pioneer in the first half of the twentieth century, who broke down the market cycle into four distinct phases.  But is Wyckoff a reliable pattern, particularly for trading cryptocurrency? Let’s find o. What is Wyckoff accumulation? Wyckoff accumulation is one of the four phases listed in the Wyckoff…

Are Russia & Saudi Arabia Mining Bitcoin?!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io There are rumors and speculation that Saudi Arabia and Russia could be using their vast amounts of oil and gas to mine bitcoin. ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Bitcoin Has $18,000 On Its Radar

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After weeks of consolidation, Bitcoin – the largest cryptocurrency by market capitalization – and the broader cryptocurrency market have witnessed a short-term bounce in response to Consumer Price Index data that exceeded expectations. The Labor Department of the United States reported that CPI climbed barely 0.1% between October and November. Last month, the inflation measure recorded a score of 7.1% compared to the projected 7.3%. Bitcoin Inching Closer To $18K The increase has brought the flagship cryptocurrency Bitcoin closer to the $18,000 level. At the time of writing, it is trading at $17,778…