Day: January 18, 2023

Crypto Observers Maintain Risk On Bias as US Debt Ceiling Nears

“The debt ceiling never used to be an issue and was always raised without much fight. But then, in 2011, it became a huge issue and the economy took a hit that lasted for a few months, and the Federal credit rating was downgraded. While most politicians should remember that time, or at least understand their recent history, this time might also be different because this group of House Republicans is clearly looking to shake things up,” Wes Hansen, director of trading and operations at crypto fund Arca, said in…

Crypto Hedge Funds Recorded Nearly 50% Loss in 2022

Though the result calls for concerns, it is still not the worst performance seen in the last five years. According to research firm BarclayHedge, hedge funds fell by approximately 50% by the end of the year.  This follows after a recent Reuters report surfaced, detailing how crypto hedge funds went through a significantly rough patch last year. In total, BarclayHedge tracked an index of 47 crypto hedge funds. And though it kept them anonymous, data suggests they posted a loss of over 47% for the year. BarclayHedge Says FTX May…

Shiba Inu Price Jumps By 21%, Here’s Why

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While the broader crypto market has been trending sideways in the past 24 hours following its stellar rally over the past two weeks, Shiba Inu (SHIB) is bucking the trend, posting a whopping 21% price. The trading volume of the meme coin has exploded by 150% to $810 million within the last 24 hours. A look at the 1-day chart reveals that the Shiba Inu price approached the lower end of the key resistance zone at $0.000013, but was rejected initially. At press time, SHIB was trading at $0.00001254, reaching…

Shanghai Metaverse Pilot Introduces Digital Services in 20 Urban Locations – Metaverse Bitcoin News

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The city of Shanghai is bringing metaverse activities to 20 urban locations, that will allow citizens to use digital tools in different ways according to the area. The initiative is part of a pilot program of the Shanghai Municipal Commission of Economy and Informatization to push more metaverse applications to the population. Shanghai Takes the Metaverse to 20 Urban Spots Shanghai, China is quickly moving to integrate the metaverse as part of the lives of its citizens. The Shanghai Municipal Commission of Economy and Informatization recently announced a pilot program…

Bitcoin Recovers All Loses since FTX Collapse as Analysts Ponder Future Price Trajectory

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Leading crypto asset Bitcoin has been on the mend since the FTX bankruptcy situation and is now riding a two-month high. Bitcoin (BTC) has recouped all losses incurred since the catastrophic FTX collapse last November. The leading digital currency recently hit a new post-FTX high, holding firm at over $21K for the last two days. This is well above Bitcoin’s November 2nd price of $20,283. Bitcoin’s price jumped more than 22% in the last seven days, about the same decline it suffered between November 7th and November 8th. At the time of…

Goldman Sachs Q4 2022 Report Sees Huge Earnings Miss & Soaring Expenses

New York banking giant Goldman Sachs suffered its worst earnings miss since 2011, with quarterly profit sinking 66% year-over-year.  Goldman Sachs (NYSE: GS) recently posted its fourth quarter result, showing its worst earnings miss in ten years. Revenue realized for the period ended December 31st came in lower than expected, while expenses and loan loss surged conversely. For the fourth quarter of 2022, Goldman reported a revenue haul of $10.59 billion versus the consensus estimate of $10.83 billion. In addition, the banking giant earnings per share of $3.32 compared to the much…

CFTC commissioner calls for global industry standards in crypto regulation

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Caroline Pham, the commissioner of the Commodity Futures Trading Commission (CFTC), has recently called on regulators to provide clearer guidance on crypto assets in 2023.  In an interview with Bloomberg, Pham mentioned that discussions with global players over crypto regulations are currently ongoing. The government official said that there are many foreign discussions currently happening about global industry standards for crypto regulation. According to Pham, she has gone through more than 75 meetings with various parties to discuss various topics concerning crypto regulation. The CFTC commissioner highlighted that there are…

Hedera Soars 23% As HBAR Blooms All-Green On The Charts All Week

Hedera is a strong competitor in the DeFi space as it boasts some of the best metrics in the industry. According to recent analysis, the ecosystem hit 5,500 transactions per second. TPS is used to compare DeFi projects from each other. So far, Hedera beats Ethereum in terms of average transactions per second. The realm of NFTs is also expanding for the Hedera Hashgraph ecosystem. Just last year, the network scored a partnership with LG for their Art Lab, the company’s foray into the metaverse.  With a complete and detailed…

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