Month: January 2023

Crypto Regulation Is Like a Flimsy Umbrella in a Monsoon – Op-Ed Bitcoin News

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You know what they say, “when life gives you lemons, make lemonade.” But when it comes to protecting your crypto funds on centralized exchanges (CEXes), the old adage should be “when life gives you regulations, make a self-custody wallet.” Self-custody is undoubtedly a better solution for protecting the interests of customers in crypto. Regulation alone is not enough. The following opinion editorial was written by Joseph Collement, General Counsel at Bitcoin.com. Don’t get us wrong, regulation is important. It’s like a flimsy umbrella on a sunny day – better than…

Gala (GALA) Games Connects with Coinbase Wallet, Axie Infinity (AXS) Experiences a Hike in User Activity, while Orbeon Protocol (ORBN) Flaunts 987% Growth

Place/Date: – January 25th, 2023 at 5:16 am UTC · 4 min read Source: Orbeon Protocol A few cryptocurrencies recently gained momentum, and gathered the interest of investors. Among them, the current trends are focused on the increasing popularity of Gala (GALA), Axie Infinity (AXS), and Orbeon Protocol (ORBN). So, let us learn more about each of these tokens. Gala (GALA) Links Up with Coinbase Wallet, Offering a Token Price of $0.046 The Gala (GALA) ecosystem is accessible through the Coinbase platform, which is the biggest crypto exchange in the…

Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

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Ethereum started a downside correction below $1,600 against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,480 support. Ethereum is showing a few bearish signs below the $1,600 and $1,580 levels. The price is now trading below $1,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,620 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover if it stays above the $1,500 and $1,480 support…

Quant (QNT) Adds 8% In The Last 24 Hours, Will It Continue To Soar?

Like most cryptocurrencies, Quant (QNT) has witnessed a considerable price rally over the past weeks. The token has added more than 8.24% over the past 24 hours. Even the broader cryptocurrency market has recently seen tremendous improvement in its prices. Reports revealed that the cryptocurrency market outperformed the traditional equity market. QNT saw a 14-day gain of 26.8% and a 7-day price surge of 7.58%. These performances could be credited to improving economic conditions and recent improvements on the Quant Network.  What Factors Could Be Driving Quant Price Up? Quant…

Saudi Central Bank still researching CBDC, but no decision on deployment

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The Saudi Central Bank (SAMA) is ramping up its research into Central Bank Digital Currencies (CBDCs) but is yet to announce a deployment. In a Jan. 23 bulletin, the bank stated it was working on a phase of a project that “focuses on domestic wholesale CBDC use cases in collaboration with local banks and fintechs.” However, it confirmed there had been no final decision to launch such a digital currency in the Middle Eastern nation. “SAMA stresses that although no decision has been made regarding the introduction of CBDC in…

Bitcoin Price Just Saw Technical Correction But Key Uptrend Support Intact

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Bitcoin price started a downside correction below $23,000. BTC is testing an important support and might start a fresh increase towards $23,500. Bitcoin started a downside correction and declined below the $23,000 support zone. The price is trading below $23,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $22,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $22,000 support zone. Bitcoin Price Tests Key…

Jim Cramer Says Avoid Crypto, Stick With Gold for ‘Real Hedge’ Against Inflation and Economic Chaos – Economics Bitcoin News

The host of Mad Money, Jim Cramer, has advised investors to avoid crypto and stick with gold if they “seriously want a real hedge against inflation or economic chaos.” He added that bitcoin is too volatile to use as a currency. “Imagine business owners trying to conduct transactions with shares of Facebook or Google … it’s ridiculous,” he stressed. Jim Cramer Prefers Gold to Crypto The host of CNBC’s Mad Money show, Jim Cramer, gave some investment advice regarding gold and cryptocurrencies on Monday. Cramer is a former hedge fund…

Bitcoin Seesaws Above and Below $23K Again

“Now that we start to see prices picking up, we’re starting to see a lot of those traders throw in the towel and just jump in to make sure that they don’t miss the big surge off the bottom that we’re now seeing,” he said. Ether fared less well, falling below $1,550 for the first time in a week. The second-largest crypto by market value was off 5.7% from Monday, same time. Other major cryptos declined later in the day to trade well in the red, with popular meme coins…

Stablecoins and CBDCs might play ‘meaningful role’ in payments — Visa CEO

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The chief executive of credit card giant Visa remains confident that blockchain-powered solutions can be integrated into its services and offerings to power the next generation of payments. Speaking on a call at Visa’s annual stockholder meeting on Jan. 24, outgoing CEO Al Kelly — who will officially step down on Feb. 1 — briefly shared the firm’s plans for Central Bank Digital Currencies (CBDCs) and private stablecoins. According to a Jan. 24 report from San Francisco Business Times, Kelly said: “It’s very early days, but we continue to believe…

BlockFi reportedly posts uncensored financials revealing $1.2 billion FTX exposure

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Bankrupt crypto lending firm BlockFi has reportedly uploaded financials by accident, revealing $1.2 billion in assets tied up with bankrupt exchange FTX and Alameda Research. According to a Jan. 25 report from CNBC, the unredacted filings show that as of Jan. 14, BlockFi had $415.9 million worth of assets linked to FTX, and a whopping $831.3 million in loans to Alameda. The financials were leaked as part of a presentation put together by M3 Partners, who is an advisor to the creditor committee. Related: BlockFi to sell $160M in Bitcoin miner-backed…