Day: January 27, 2023

Snowfall Protocol (SNW) Looking to Profit and Sway Competitors from Tron (TRX) and Litecoin (LTC) Investors

Place/Date: – January 27th, 2023 at 5:24 am UTC · 4 min read Source: Snowfall Protocol On the back of muted rebounds and large market caps with large floats, Tron (TRX) and Litecoin (LTC) investors are looking to diversify or completely migrate elsewhere. SNW, Snowfall Protocol’s token, will be their most preferred destination. Snowfall Protocol (SNW) is building a cross-chain platform that not only expands the existing applications of blockchains but also eliminates the need for several faulty intermediaries built on Tron and Litecoin. Snowfall Protocol (SNW) is leveraging expertise…

Argo Blockchain accused of misleading investors in class action lawsuit

Investors of crypto mining firm Argo Blockchain have filed a class action lawsuit accusing the miner of making untrue statements and omitting key information during its initial public offering (IPO) in 2021. A newly filed lawsuit on Jan. 26 is aimed at Argo and several of its executives and board members. It claims the firm failed to disclose how susceptible it was to capital constraints, electricity costs and network difficulties. “The Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state…

Rallies 10%, Polygon Bulls Aim Big

MATIC price started a fresh increase from the $0.920 support zone. Polygon bulls are now aiming more gains above the $1.12 resistance zone. MATIC price started a fresh rally above the $0.98 resistance against the US dollar. The price is trading above $0.98 and the 100 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near $1.02 on the 4-hours chart of the MATIC/USD pair (data source from Kraken). The pair could continue to rise towards the $1.18 and $1.20 resistance levels. Polygon’s MATIC…

Bitcoin miner Hut 8 takes stoush with Ontario power supplier to court

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Canada-based Bitcoin (BTC) miner Hut 8 Mining Corporation has ramped up its ongoing fight with its power supplier for one of its mining sites, filing a lawsuit in a Canadian court. Hut 8 said on Jan. 26 it filed a Statement of Claim in the Superior Court of Justice of Ontario against Validus Power, an energy supplier for a Hut 8 mining facility in North Bay, Ontario. The firms have been in an ongoing dispute since early November 2022 due to what Hut 8 alleges is a failure by Validus…

Congressman Hill to ‘make sure’ US is the place for blockchain innovation

The chairman of the newly formed U.S. congressional subcommittee on digital assets has pledged for progressive crypto regulations to ensure that “America is the place for innovation in fintech and blockchain.” Speaking on CNBC’s Squawk Box on Jan. 26, Congressman French Hill offered some of his first insights into what is anticipated for crypto regulations in the country. The Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, which is chaired by Hill, was put together on Jan. 12 with the remit of “identifying best practices and policies that…

Ethereum Price Another Rejection Signals Risk of Bearish Reaction

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Ethereum struggled once again to clear the $1,640 resistance against the US Dollar. ETH is correcting lower and remains at a risk of a move below the $1,550 support. Ethereum is slowly moving lower below the $1,620 and $1,600 levels. The price is now trading below $1,600 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if there is a clear move below the $1,550…

Financial Advisors See Strong Interest in Crypto — 90% Receive Inquiries About Crypto Investing, Survey Shows – Featured Bitcoin News

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A new survey shows that interest in cryptocurrency remains strong among financial advisors’ clients. “Despite market performance, the most common question was: ‘Should I consider an investment in crypto?’” the survey results reveal. Financial Advisors Bullish About Crypto Long Term Crypto asset manager Bitwise Asset Management published a report titled “Bitwise/Vettafi 2023 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets” on Tuesday. This is Bitwise’s fifth annual study conducted in collaboration with Vettafi, an exchange-traded fund (ETF) platform. The survey was conducted between Nov. 25, 2022, and Jan. 6,…

Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

Bitcoin price failed to settle above $23,500 and corrected lower. BTC is trading above $22,400, but it is now trading below the 100 hourly SMA. Bitcoin is slowly moving lower from the $23,500 resistance zone. The price is trading below $23,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $23,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it clears the $23,000 resistance zone. Bitcoin Price Faces Resistance Bitcoin…

‘LEAKED BIDS’ — Binance, Galaxy Digital among secret bidders for Celsius assets

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At least five firms placed bids on Celsius Network’s crypto assets, including Binance, Bank To The Future and Galaxy Digital, according to leaked information shared by crypto blogger Tiffany Fong.  Fong, a follower of Celsius developments who shot to fame after several exclusive interviews with Sam Bankman-Fried following its collapse, has leaked information from documents she says were obtained on Dec. 20 “detailing the bids on Celsius Network’s crypto assets.” In a Substack post, Fong explained that she initially refrained from leaking the bids to avoid disrupting the bidding process…

UK’s FCA hints at why its given only 15% of crypto firms the regulatory nod

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Despite the plans to turn the region into a bustling crypto hub, the United Kingdom’s financial watchdog says it has given the all-clear to only 41 out of 300 crypto firm applications seeking regulatory approval to date. The U.K. Financial Conduct Authority (FCA) implemented the new cryptocurrency-focused regulations on Jan. 10, 2020, to supervise businesses operating in the sector and to ensure that they’re subject to the same anti-money laundering (AML) and counter-terrorism financing (CTF) regulations as firms in traditional financial markets. A statement from the FCA has revealed that…