Day: January 27, 2023

What is an ascending triangle pattern and how to trade it?

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Market analysts rely on many technical indicators to anticipate future trends, one of which is the very-popular ascending triangle chart pattern. What is an ascending triangle pattern? As the name indicates, an ascending triangle on a chart forms when the price consolidates between a rising trendline support and a horizontal trendline resistance. The pattern typically appears during persistent uptrends or downtrends. Most technical analysts see it as a “continuation pattern,” meaning the general market trend is likely to resume. BTC/USD three-day price chart featuring ascending triangle breakout. Source: TradingView For example,…

BuzzFeed to Leverage OpenAI to Write Stories, BZFD Stock Shoots 120%

BuzzFeed stock zoomed more than 200% during Thursday’s trading session as the media house announced the use of OpenAI tools for content production. On Thursday, January 26, BuzzFeed (NASDAQ: BZFD) said that would be using OpenAI, the creators of the popular ChatGPT platform, and leverage artificial intelligence to create content for its audience. This is the first big announcement by a media company to leverage the new tech into their business which has positively influenced BuzzFeed stock. ChatGPT has created a major buzz recently in the market and has stunned…

US SEC Rejects Cboe BZX’s Bid to List ARK 21Shares Bitcoin ETF for Second Time

SEC concluded that Cboe BZX has not established that it has a comprehensive surveillance-sharing agreement with a regulated market of significant size related to listing Ark 21Shares Bitcoin ETF. The United States Securities and Exchange Commission (SEC) has rejected a bid from Cboe Global Markets Inc to list a Bitcoin ETF jointly issued by Ark Investment Management and 21Shares for the second time. According to the SEC, Cboe Exchange has not yet demonstrated the required balance to protect investors from fraudulent activity including price manipulation. Since the FTX fallout, which…

Tesla (TSLA) Shares Pop 10% after Record Profits in 2022 Q4 Earnings

During the fourth quarter, Tesla reported automotive revenue of about $21.3 billion and total revenues of about $24.31 billion. Tesla Inc (NASDAQ: TSLA) shares closed Thursday trading at $160.27, up 10.97 percent from the day’s opening price. Tesla shares spike has been attributed to record 2022 Q4 earnings results that beat analysts’ expectations. Notably, Tesla cut unit prices at the end of 2022, which analysts think significantly contributed to the record results. As such, the electric vehicle behemoth is optimistic 2023 will yield even better results. “Thus far in January,…

Paraguayan Bitcoin Mining Companies Hurt by Power Rate Hikes of Over 50% – Mining Bitcoin News

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Paraguayan mining companies are taking a hit to their profitability due to the steep power fee hikes the government has established for cryptocurrency mining activities. According to reports from Braiins Mining business developer Nano Grijalba, after the veto of the crypto law, the change in power fees makes mining hosting an unprofitable business in Paraguay. Bitcoin Mining Power Fee Hike Hurts Paraguayan Companies Once seen as a haven for bitcoin and crypto miners, Paraguay has changed. Paraguayan miners now complain due to the price hikes the government has applied specifically…

SEC Probing Investment Advisors Over Crypto Custody: Report

The SEC has been warning public companies that if they have a stake in the industry’s recent crypto contagion, they’d better tell investors, as Coindesk previously reported. The SEC asked if companies face any risks to their businesses “due to excessive redemptions, withdrawals or a suspension of redemptions or withdrawals, of crypto assets.” Source

Fortune Unicorn Club (FUC), the First DIY-Mint Method NFT Project, Has Won 2 Million in Funding in the ForChain Labs’ Seed Round – Press release Bitcoin News

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press release PRESS RELEASE. ForChain Labs was founded in April 2022 as a web 3 startup company. Meanwhile, the NFT project, Fortune Unicorn Club, was being developed. ForChain Labs has raised 2 million funds in its seed round and will use the funds to develop and operate Fortune Unicorn Club (FUC), the first NFT project to utilize DIY-minting. As reported, ForChain Labs currently manages investments in four major segments: industrial, technology, finance, and web 2, with 198 portfolio companies and $9.3 billion in assets. As a result, the venture capital…

US securities regulator probes Wall Street over crypto custody: Report

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The United States Securities and Exchange Commission (SEC) has been probing traditional Wall Street investment advisors that may be offering digital asset custody to its clients without the proper qualifications. A Jan. 26 Reuters report citing “three sources with knowledge of the inquiry” said the SEC’s investigation has been going on for several months already but accelerated after the collapse of crypto exchange FTX. The investigations by the SEC have not been known previously before as the agency’s inquiries are not public, said the sources. As per the Reuters report,…

Coinbase Fined €3.3 Million in Netherlands, Exchange Considers Appeal – Exchanges Bitcoin News

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The Dutch central bank has imposed a fine on crypto exchange Coinbase for providing services in the past without the necessary registration. The trading platform, which has until March to object to the measure, is currently considering an appeal against the move. Dutch Monetary Authority Fines Coinbase for Operating Without Registration De Nederlandsche Bank (DNB) has imposed an administrative fine of €3,325,000 (over $3.6 million) on Coinbase Europe Limited, on Jan. 18, 2023. An announcement explained the penalty with the exchange offering crypto services in the Netherlands in a past…