Month: January 2023

Ethereum Price Gains Momentum, Why ETH Could Rise To $1,300

Ethereum is moving higher above $1,220 against the US Dollar. ETH could rise further if there is a clear move above the $1,240 and $1,250 resistance levels. Ethereum is attempting a fresh increase above the $1,200 and $1,220 resistance levels. The price is now trading above $1,200 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $1,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a clear move above the…

US Feds put together ‘FTX task force’ to trace stolen user funds

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The United States Attorney’s Office for the Southern District of New York (SDNY) has formed an FTX Task Force to “trace and recover” missing customer funds, as well as handle investigations and prosecutions related to the exchange’s collapse.  The announcement came via a statement from U.S. Attorney Damian Williams who is the federal prosecutor in the FTX case involving founder Sam Bankman-Fried. Charges from the Manhattan attorney’s office against Bankman-Fried include wire and securities fraud, conspiracy to commit wire and securities fraud, money laundering and violation of campaign finance laws.…

Core Scientific shuts down 37K mining rigs it was hosting for Celsius

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Bankrupt cryptocurrency lender Celsius Network has agreed to let Bitcoin (BTC) miner Core Scientific shut off more than 37,000 mining rigs it had been hosting for Celsius during the miner’s bankruptcy proceedings. Core Scientific filed a revised proposed order on Jan. 3 that incorporated “revisions acceptable to Celsius” stating “all Celsius rigs will be powered down effective January 3, 2023 and will not be restarted during the transition period.” On Oct. 19, Core Scientific accused Celsius of failing to pay its power bills, later citing the non-payment as a major factor…

Indian Government Launching Crypto Awareness Campaign – Regulation Bitcoin News

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The government of India is launching a crypto awareness campaign that will educate investors about the legality of cryptocurrencies in the country while highlighting the risks of investing in crypto assets. Indian Government’s Cryptocurrency Awareness Campaign The Indian government is reportedly launching a first-of-its-kind crypto awareness campaign. It will be conducted by the Investor Protection and Education Fund Authority, a government body controlled by the Ministry of Corporate Affairs. A government official was quoted by ET as saying: The campaign will highlight that cryptocurrencies are not legal in India and…

Israel’s Securities Watchdog Moves to Better Supervise Crypto Assets

The amendments to the country’s laws would squeeze “digital assets” into existing securities regulations, according to the proposal, potentially treating most crypto as financial investments supervised by the ISA. The changes would define the assets as digital representations of value that are used for financial investment and that can be transferred using a distributed ledger, and digital assets would be added under the existing category of “financial instruments” in Israeli securities law. Source

Why Is Tron Founder Justin Sun Keeping Some of His Coins in Valkyrie Digital Assets?

“I don’t believe we’ve reached bottom,” said Bilal Little, president of DFD Partners, a distribution platform for asset managers, on CoinDesk TV’s First Mover program. “I still believe that there will probably be one or two more big headline issues that will drop in that will cause some impact on the marketplace. But once we hit somewhere in between, call it $12,000 to $13,000 or so, we should have a good flush of the system.” Source

Bitcoin Price Key Indicators Suggest Strengthening Case For Upside Break

Bitcoin price is attempting an upside break above $16,800. BTC could gain bullish momentum if it clears the $16,800 and $17,000 levels. Bitcoin is still trading in a major range below the $16,800 and $17,000 resistance levels. The price is trading above $16,600 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $16,620 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $16,800 resistance. Bitcoin Price Eyes…