Month: January 2023

Former FTX CEO Sam Bankman-Fried Pleads Not Guilty to Criminal Charges, Bond Signees’ Names Remain Sealed  – Bitcoin News

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On Jan. 3, 2023, the former FTX CEO Sam Bankman-Fried (SBF) pleaded not guilty to eight criminal charges that involve two counts of wire fraud and six counts of conspiracy. In addition to the not guilty plea, SBF’s judge Lewis Kaplan granted the defendant’s request to keep the names of his $250 million bond signees redacted. Sam Bankman-Fried Pleads Not Guilty to Criminal Charges and Fights to Keep Bond Signees Anonymous in Court Disgraced FTX co-founder Sam Bankman-Fried (SBF) said he’s not guilty of the eight charges against him when…

Coinbase reaches $100M settlement with NY regulators

New York regulators announced on Jan. 4 that cryptocurrency exchange Coinbase will pay a $50 million fine and invest a further $50 million in its compliance program, following a settlement with the New York State Department of Financial Services.  The fine was issued after regulators found the company had allowed customers to open accounts without conducting sufficient background checks, potentially violating Anti-Money Laundering laws. The company’s failure to properly identify customers and monitor their activity for suspicious activity was initially identified during a routine examination in 2020, but regulators determined…

ETH Hits 3-Week High Ahead of FOMC Minutes – Market Updates Bitcoin News

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Ethereum rose to a three-week high on Jan. 4, as markets prepared for the release of the latest Federal Open Market Committee (FOMC) minutes. Wednesday’s report will likely show the U.S. Federal Reserve’s view on the economy, and further detail its reasoning behind a policy pivot. Bitcoin was also higher, rising to an eight-day high. Bitcoin Bitcoin (BTC) rose to an eight-day high on Wednesday, as cryptocurrency markets climbed ahead of the latest FOMC minutes release. Following a low of $16,622.37 on Tuesday, BTC/USD raced to an intraday high of…

Mortgage Demand Slides 13.2% to Conclude 2022 amid Rising Interest Rates

The demand for mortgage in the United States nosedived at the tail end of 2022 following a two-week reprieve.  Mortgage demand in the US ended 2022 down 13.2%, with interest rates on the rise. Following a brief lull in the first half of December last year, mortgage application volume sank substantially at the end of last week. The reason for this downturn was higher mortgage interest rates. For example, the average contract interest rate for a 30-year fixed-rate mortgage went up to 6.58%. Barely two weeks ago, this figure stood…

Bitcoin Price Plays Catch-Up, Why $28,000 Is A Key Level

The Bitcoin price is finally seeing some profits, but it seems weak compared to other crypto assets. The macroeconomic environment is waking up, shaking things across all asset classes.  As of this writing, the Bitcoin price trades at $16,800 with sideways movement in the last 24 hours. In the crypto top 10, BTC is lagging behind Ethereum, Binance Coin, and Cardano. These cryptocurrencies are positively reacting to the start of 2023.  BTC’s price moving sideways on the daily chart. Source: BTCUSDT Tradingview Bitcoin Price Aims For Higher Levels Per a…

Indonesia to Float Crypto Exchange This Year

In Indonesia today, a total of 383 digital currencies and 10 local tokens can be traded by investors on approved exchanges in the country. The Indonesian government may be moving in a positive direction with respect to its plans to support the growth of the crypto ecosystem on its shores and is set to float a crypto exchange before the end of this year. As reported by Bloomberg, the country is making this move, which has long been in the plan, ahead of its proposed plans to cede regulations of…

Ethereum Stakers In Massive Loss As 80% of Staked ETH Is In The Red

The bear market has resulted in multiple losses for individuals and even large entities, and according to recent data shared by crypto analytics site, Dune analytics, the majority of all ETH stakers are in the loss while fewer stakers remain in the money. The reason behind the result of more losses than profit is due to the market conditions starting in 2021 after the Ethereum Beacon chain was launched, to the present. ETH had reached a new all-time high (ATH) but has also fallen by more than 50% from the…

China’s Nezha Delivered More Cars than Nio in 2022

Despite the persisting coronavirus pandemic that led to shutdowns in China, the Chinese electric car market is still bubbling. Nezha, an upstart Chinese electric car company, claimed that it delivered more cars than automobile manufacturer Nio did in 2022. Nezha is named after a Chinese mythology character and is another budget-friendly electric car brand focused on compact SUVs. Specifically, the company said its car delivered in 2022 was over X2 to surpass 152,000 vehicles. Out of the delivered cars, the most deliveries were Nezha V, a compact SUV with post-subsidy…