Day: March 23, 2023

After Frenzied Arbitrum Airdrop Day, 37% of Eligible Wallets Still Haven’t Claimed Their ARB

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Coinbase CEO calls for action in electing pro-crypto lawmakers following SEC Wells Notice

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Brian Armstrong, the chief executive officer of United States-based cryptocurrency exchange Coinbase, has renewed calls for crypto users to “elect pro-crypto candidates.” In a March 23 Twitter Spaces discussion, Armstrong said Coinbase would be making efforts to organize the roughly 50 million U.S. citizens who use crypto into a political force. His statement followed the U.S. Securities and Exchange Commission issuing a Wells Notice to the crypto exchange, suggesting a potential enforcement action. “What we’re going to do is start putting out content where people can contact their congressman, donate…

Bitcoin Holds Steady Above $28K, Ether Rises in Post Rate Hike Rally

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Crypto’s Tricky Trio Stirs Up Trouble in 2023 – Op-Ed Bitcoin News

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2023 is shaping up to be a painful year for the U.S. Securities and Exchange Commission (SEC) as it finds itself entangled in battles with the ever-evolving and innovative cryptocurrency industry. From Ripple to Coinbase and Tron, the SEC faces fierce opposition with potentially huge consequences. The following opinion editorial was written by Joseph Collement, General Counsel at Bitcoin.com. Ripple Rumble: A Gamble that Could Ripple Through the SEC The SEC’s ongoing legal battle with Ripple Labs is a high-stakes gamble with serious consequences that may soon come to an…

The SEC’s Scattershot Approach Shows Its Weakness

CryptoX – Cryptocurrency Analysis and News Portal By taking aim at high-profile targets including Coinbase, Justin Sun and Lindsey Lohan, the SEC showed it doesn’t have the resources to effectively police the crypto industry. Source The post The SEC’s Scattershot Approach Shows Its Weakness appeared first on CryptoX. CryptoX Portal

Bitcoin corrects on Fed rate hike, but bulls are prepared for Friday’s $1.2B options expiry

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Bitcoin’s (BTC) 17.5% rally between March 16 and March 22 surprised options traders betting on price levels below $26,000. The movement resulted from investors seeking protection against persistent inflation and the ongoing banking crisis. Bitcoin bulls have been paying close attention to the negative effects of near-zero interest rates between April 2020 and April 2022, and some have used the information to profit from the $1.2 billion in BTC options that are set to expire on March 24. Resilient inflation and improving housing markets According to the official consumer price…

Bitcoin’s market dominance is climbing. Here’s what that says about interest rate expectations

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Bitcoin’s market dominance has been climbing in March and is now up to levels not seen since June. A crypto asset’s “dominance” measures how much of it makes up the total cryptocurrency market cap. Investors use it to determine which parts of the crypto market are outperforming or underperforming relative to their peers. When bitcoin dominance climbs, it implies that bitcoin is doing well, but more specifically, it means its outperforming altcoins. Bitcoin dominance has risen steadily since March 8, the day after Silvergate Bank announced its voluntary liquidation. It’s…

FTX debtors agree to $95M sale of stake in Mysten Labs

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The debtors for defunct crypto exchange FTX have approved an agreement that would sell its preferred stock in Mysten Labs, the company behind the Sui blockchain. In a March 22 filing in United States Bankruptcy Court in the District of Delaware, FTX debtors proposed a deal in which Mysten Labs and the company would agree to a mutual release of claims. As part of the agreement, the debtors planned to sell roughly $95 million worth of preferred stock back to Mysten in addition to $1 million in SUI tokens. “The…