Month: January 2023

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…

CFTC’s Johnson urges Congress to expand commission’s crypto oversight powers

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Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that “closes the current gap in the oversight of crypto spot markets.” During a speech at a digital assets conference at Duke University on Jan. 21, Johnson proposed a number of amendments that would enable the CFTC to conduct “effective due diligence” on businesses, including crypto firms, that want to acquire CFTC-regulated entities. The commissioner also wants expanded powers for the commodities regulator to enhance customer protection, prevent liquidity crises and mitigate conflicts of interest. CFTC Commissioner…

CFTC’s Johnson urges Congress for expanded powers in crypto oversight

Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that “closes the current gap in the oversight of crypto spot markets.” During a speech at the digital assets conference at Duke University on Jan. 21, Johnson proposed a number of amendments that would enable the CFTC to conduct “effective due diligence” on businesses, including crypto firms, that want to acquire CFTC-regulated entities. The Commissioner also wants expanded powers for the commodities regulator to enhance customer protection, prevent liquidity crises, and mitigate conflicts of interest. CFTC Commissioner…

Crypto Markets Shrug Off Latest US Productivity, Jobs Data; Bitcoin’s Price Hovers at $22.9K

Equity markets continued their uneven climb upward this year with the tech-heavy Nasdaq and the S&P 500, which has a hefty technology component, jumping 1.8% and 1.1%, respectively, even as fourth quarter earnings continued to tilt negative and a rising number of firms announced layoffs in anticipation of an economic contraction. Since the start of the year, Amazon, Microsoft, Salesforce and more recently IBM have announced job cuts. Source

Arizona Senator Launches Bill to Make Bitcoin Legal Tender – Regulation Bitcoin News

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A senator in the U.S. state of Arizona has introduced a set of cryptocurrency bills, one of which seeks to make bitcoin legal tender. “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is freedom,” the lawmaker said. Arizona Lawmaker Wants to Make Bitcoin Legal Tender Arizona State Senator Wendy Rogers has introduced several crypto-related bills, including one to make bitcoin legal tender in her state. “Launched my crypto bills today,” Rogers tweeted Tuesday. The bills are co-sponsored by her state senate Republican colleagues Jeff Weninger and…

US Senator Ted Cruz pushes for crypto in Congress … using snacks

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Texas Republican Senator Ted Cruz is pushing the United States Congress to adopt cryptocurrency within its halls using an incentive both sides might agree on — food. Cruz introduced a concurrent resolution dated Jan. 25 that would only allow vending machine and food service contractors that accept crypto as a payment option within the U.S. Capitol. If adopted, the Architect of the Capitol, the Secretary of the Senate and the Chief Administrative Officer of the House of Representatives would be required to find the crypto-accepting food and vending firms. At…

XRP Try To Break Consolidation At $0.4 To Conquer New Levels

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XRP bulls are trying to ride the wave along with Bitcoin to reclaim previously lost territory. The bulls are targeting new annual highs. XRP has been trading in the green zone since the beginning of the year with a strong recovery and bullish sentiment from its investors. At press time, XRP is trading at $04.96, representing a gain of 0.78% in the last 24 hours. The token is auctioning 34% below its 2018 high of $3.40. Can XRP Sustain Its Bull Streak? XRP started the year with a spike in…

Keep an eye out for major company NFT trademark filings this year

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Crypto proponents would be wise to keep their eyes on nonfungible token (NFT) and metaverse trademark applications this year, which are “reliable signals” of future-use plans. Speaking to Cointelegraph, intellectual property lawyer Michael Kondoudis said while many people may think big corporations are just jumping onto the NFT trend as a novelty, “it is not possible” to register a trademark in the United States with no intention to use it. Despite a relatively low cost for filing an application — ranging from $250 to $350 per class of goods/services —…