Day: January 24, 2023

Bitcoin Price Gearing For Another Lift-Off and Might Surge To $25K

Bitcoin price remained well supported above the $22,300 zone. BTC is rising and might aim a fresh increase above the $23,500 resistance zone. Bitcoin started a minor downside correction and tested the $22,400 support zone. The price is trading above $22,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $22,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh surge if it clears the $23,500 resistance zone. Bitcoin Price Eyes Another…

Singapore Regulator Advocates ‘One Regulatory System’ for Crypto and Traditional Finance – Regulation Bitcoin News

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Singapore’s senior minister and the chairman of the central bank, the Monetary Authority of Singapore (MAS), says there should be just “one regulatory system” for both crypto and traditional finance. In addition, he stressed that regulators should provide “ultra clarity as to what’s an unregulated market,” so investors are aware that they go in at their own risk. ‘One Regulatory System’ Tharman Shanmugaratnam, Singapore’s senior minister who is also the chairman of the country’s central bank, the Monetary Authority of Singapore (MAS), talked about cryptocurrency regulation during a panel discussion…

‘Tremendous time’ to start a blockchain company, says Pantera General Partner

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Despite depressed crypto prices and recent company collapses, one of the key investors behind crypto hedge fund Pantera Capital believes there’s never been a better time to start a blockchain company.  As part of a Jan. 23 post about the year ahead from a number of executives at Pantera Capital, Paul Veradittakit, General Partner at Pantera Capital explained that “On average,” people working in the crypto space are more educated and passionate about crypto than in previous cycles. Strong start to the year! https://t.co/gFe5fUM0gT — paul.nft (@veradittakit) January 23, 2023…

SEC’s ‘one-dimensional’ approach is slowing Bitcoin progress: Grayscale CEO

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The approach to crypto regulatory enforcement by the United States Securities and Exchange Commission (SEC) stalled the advancement of Bitcoin (BTC) in the country, according to the CEO of Grayscale Investments. In a letter published in The Wall Street Journal on Jan. 23, the chief of the cryptocurrency asset management firm, Michael Sonnenshein, said he agreed with an assertion that the SEC was “late to the game” regarding crypto regulation and preventing the bankruptcy of FTX, adding: “‘Late’ doesn’t capture what transpired here. The problem is the Securities and Exchange…

Ether Prices Fall Relative to Bitcoin

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Ether also rose then dipped on Monday but continued to trade comfortably over $1,600, about flat from Sunday, same time. Other major cryptos were mixed with AVAX, the token of base layer protocol Avalanche, and XRP, the native crypto of open source public blockchain XRP Ledger, up more than 4% and 5%, respectively, but AXS, the governance token of gaming platform Axie Infinity, dropping more than 12%. AXS had soared more than 40% on Sunday. The CoinDesk Market Index (CMI), a measure of leading cryptos’ market performance, was up slightly.…

NFT Application Floor Acquires Data Platform WGMI.io to Educate Traders

The Floor iOS and Android app is currently in a closed beta test for a small community of token holders. It is led by co-founder and chief operating officer Christine Brown, who was previously the crypto chief operating officer at investing platform Robinhood, and co-founder and chief technology officer Siddhartha Dabral, who formerly founded software company Button Inc. Source

North Korea’s Lazarus Group masterminded $100M Harmony hack: FBI confirms

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The Federal Bureau of Investigation (FBI) has confirmed the Lazarus Group and APT38 as the culprits behind the $100 million Harmony Bridge Hack from June 2022. The North Korea-linked cyber group had long been suspected of being behind the attack but their involvement hadn’t been confirmed by authorities until now. According to a Jan. 23 statement, the FBI noted that “through our investigation, we were able to confirm that the Lazarus Group and APT38, cyber actors associated with the DPRK, are responsible for the theft of $100 million of virtual…

Ether Turns Deflationary Again Led by Spike in NFT Sales

Ether’s inflation rate also depends on a separate mechanism known as the Ethereum Improvement Proposal (EIP)-1559, where fees paid for transactions on the network are “burned,” or eliminated from circulation. The EIP-1559 is tied to the amount of ether burned with network usage: The more transactions on the blockchain, the more ETH is burnt. Source

Crypto Will ‘Play a Major Role’ in UAE Trade Going Forward, Minister Says – Regulation Bitcoin News

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The United Arab Emirates (UAE) minister of state for foreign trade says that cryptocurrency “will play a major role for UAE trade going forward.” He stressed: “The most important thing is that we ensure global governance when it comes to cryptocurrencies and crypto companies.” Crypto to Play a Major Role in the UAE United Arab Emirates Minister of State for Foreign Trade Thani Al Zeyoudi talked about cryptocurrency Friday during an interview with Bloomberg in Davos, Switzerland. He shared that one area the UAE is looking to expand is cryptocurrencies,…