Day: February 2, 2023

Bitcoin bulls must reclaim these 2 levels as ‘death cross’ still looms

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Bitcoin (BTC) faces a sink-or-swim resistance test to confirm its “macro breakout,” new analysis says. In a tweet on Feb. 2, on-chain monitoring resource Material Indicators flagged key levels to flip to support after BTC/USD spiked above $24,000. Bitcoin price gears up for trend line showdown In what was ultimately a boon for Bitcoin bulls, the United States Federal Reserve delivered what risk-on traders wanted to hear on Feb. 1. With Chair Jerome Powell using the word “disinflation,” hopes immediately began to bet on rate hikes ending sooner and easier monetary…

Voyager victim calls for trustee to seize control of the estate

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A Voyager creditor and finance lawyer wants to see a chapter 11 trustee appointed in crypto brokerage Voyager Digital’s bankruptcy trial, which would see Voyager lose control of its estate. In a Feb. 1 motion, Voyager creditor Michelle DiVita accused Voyager of having a “history of financial statement inaccuracies and public misrepresentations that were known, or reasonably discoverable, at the beginning of the bankruptcy proceeding.” Due to this pre-bankruptcy conduct, DiVita believes that an examiner or trustee should have been requested, and is now doing so herself. The filing alleges…

Indian Government Introduces New Crypto Tax Penalties – Regulation Bitcoin News

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The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax Relief in India Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023 in parliament Wednesday, one day after she presented this year’s Economic Survey which highlighted the need for “a common approach to regulating…

Bitcoin Ordinals creator looks for fix after first instance of shock porn

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Only days after the launch of the Bitcoin (BTC)-based Ordinals protocol, its creator had to deal with their first shock pornographic image which has been inscribed into the blockchain. On Feb. 2 at around 12:15 AM UTC, an unsavory image known as “goatse” was inscribed onto the Bitcoin blockchain via the Ordinals protocol. It featured on inscription 668 and was live on the Ordinals’ front page for roughly half an hour before the image was removed. It still exists on the blockchain but is not able to be viewed using…

Regulatory action against Mango Markets exploiter is a win for DeFi — Moody’s

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Recent charges brought against Mango Markets exploiter Avraham Eisenberg will have a positive impact on the decentralized finance (DeFi) space, according to credit rating firm Moody’s.  In a Jan. 31 note from Moody’s Investor Service, AVP of decentralized finance Cristiano Ventricelli stated that enforcement actions brought by the two leading U.S. market regulators in January mean that DeFi is moving towards a “safer and more welcoming environment.” “The fact that both the SEC and CFTC took action against market manipulation by an alleged rogue trader is a credit positive for…

New To Crypto Investing? Buy Snowfall Protocol (SNW), Bitcoin (BTC), and Cardano (ADA) to Diversify Your Investments

Place/Date: – February 2nd, 2023 at 5:20 am UTC · 3 min read Source: Snowfall Protocol As 2023 gets underway and crypto prices continue to surge, now is the perfect time to invest in cryptocurrencies. However, choosing a profitable coin is like picking a needle from a haystack. Still, Bitcoin (BTC) and Cardano (ADA) are favorites in the crypto community. However, Snowfall Protocol (SNW) is a new entrant proven to be the best crypto investment. This article will look into the top three tokens you can buy to diversify your…

Bithumb owner arrested in South Korea over alleged embezzlement

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The suspected real owner of South Korea’s largest crypto exchange Bithumb has been arrested on alleged embezzlement charges on Feb. 2 local time. According to local media reports, Kang Jong-hyun was arrested on charges of alleged embezzlement. The Seoul Southern District Court issued an arrest warrant for the businessman on Jan. 25 with multiple charges, including dereliction of duty, market manipulation, and fraudulent transactions. The 41-year-old is the elder brother of Kang Ji-yeon, the head of Bithumb affiliate Inbiogen. The firm holds the largest share in Vidente Vidente, which is…

72% of institutional traders are crypto-skeptical this year: JPMorgan

A whopping 72% of institutional e-traders have signaled “no plans to trade crypto/digital coins” in 2023, according to a new survey conducted by JPMorgan. The seventh edition of JPMorgan’s e-Trading Edit surveyed 835 traders from 60 different “global locations” about the technical developments and macroeconomic factors that will influence trading performance in 2023. The survey was conducted between Jan. 3 to Jan. 23, 2023. The survey revealed hesitation among traders around digital assets. Only 14% of respondents said they will either continue to trade in the digital asset market or…

January 2023 Reaches Nearly $1 Billion in 30 Days With 41% Increase – Markets and Prices Bitcoin News

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Non-fungible token (NFT) sales increased 41.96% from the previous month, according to data recorded on Feb. 1, 2023. NFT sales reached nearly $1 billion in 30 days, with an approximate total of $997.53 million. Additionally, the number of digital collectible transactions rose more than 22% in the past month. Bored Ape Yacht Club Dominates, Ethereum Leads With 78% of Total NFT Sales in January 2023 NFT sales mirrored those of crypto assets in January 2023, reaching $997.53 million, a 41.96% increase from December 2022. Data from cryptoslam.io shows that out…