Day: May 18, 2023

Bitcoin might be on the verge of bull run, data suggests

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) is currently stuck in a bearish storm that started at the beginning of this month. Following four months of consistent gains this year, bitcoin began May on a bearish note. However, key historical data suggests the asset might be on the verge of a bull run in the long term. Philip Swift, the founder of BTC data resource LookIntoBitcoin, and behavior analytics platform Santiment, recently highlighted this looming bull run. Both entities cited historical…

Wells Fargo to pay $1B in shareholders lawsuit settlement

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Financial services firm Wells Fargo has reached a settlement in a class-action lawsuit, agreeing to pay shareholders $1 billion. The lawsuit alleged that the bank had misled its shareholders about its efforts to resolve the 2016 fake accounts scandal. A $1 billion all-cash settlement was granted preliminary approval by United States district judge Gregory Woods in a Manhattan federal court. Another hearing will be held on Sept. 8 for final approval. In a statement, the bank said it disagreed with the allegations made in the lawsuit. On the other hand, while…

More Crypto Firms to Leave US amid Confusing Rules

Brad Garlinghouse said that many other jurisdictions have done a better job than the US in providing clarity to crypto players. During his recent interview with CNBC, Ripple CEO Brad Garlinghouse stated that more and more crypto firms are likely to leave the US amid “confusing” regulations. As a result, firms like Ripple are looking to hire and invest outside the country. Speaking to CNBC on Thursday, May 18, Ripple CEO Brad Garlinghouse praised Europe and the UAE for taking leadership positions in establishing crypto laws. As a result, many…

Bitcoin Frogs outpaces Bored Apes as the most popular NFT

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In the last 24 hours, Bitcoin Frogs has surpassed Bored Apes as the most exchanged collection of non-fungible tokens (NFTs).  This achievement represents a significant step forwards for the developing Ordinals market. The collection has produced $2m worth of trading activity thanks to its roughly 700 individual transactions. Top 10 NFT sales snap | Source: CryptoSlam According to the statistics provided by CryptoSlam, the well-known Bored Ape Yacht Club, which now holds the distinction of having…

Ripple to demonstrate tokenization in HKMA e-HKD pilot program using new CBDC platform

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Ripple will participate in the Hong Kong Monetary Authority’s (HKMA’s) digital Hong Kong dollar (e-HKD) central bank digital currency (CBDC) pilot program by showcasing a real estate asset tokenization solution. The company will reveal its new CBDC platform at the same time.  Ripple will partner with Taiwan’s Fubon Bank and others to demonstrate equity release with tokenized assets using a retail version of the e-HKD CBDC. Equity release, also known as a reverse mortgage, is the practice of a lender letting a homeowner access the equity in their home, with…

G-7 Countries Must Effectively Implement Travel Rule to End ‘Lawless’ Crypto Space, FATF Chief Says

“Around the globe, countries have made progress in implementing most of the standards; however, progress on implementing FATF’s updated requirements on crypto assets has been relatively poor,” Kumar said, adding that 73% of countries are still “non-compliant or only partially compliant” with the watchdog’s standards. Source ChiefCountriesCryptoEffectivelyFATFImplementLawlessruleSpaceTravel CryptoX Portal

Bitcoin trader predicts end of dip within weeks as BTC price adds 3.5%

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Bitcoin (BTC) held a snap rebound on May 18 as analysts hoped that further upside would come next. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView BTC price sustains knee-jerk move higher Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it circled $27,400 on Bitstamp. The pair had made swift gains toward the prior day’s Wall Street open, these topping out at 3.5% versus the day’s lows. Amid changing signals on exchange order books, popular trader Skew was hopeful for continuation. “Price swept the pre-emptive swing low, which…

U.S. Bitcoin Corp to Host 150K Bitcoin (BTC) Miners

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The three bitcoin mines are in Kearny, Nebraska, as well as Granbury and Upton County, Texas. Energy investment firm Generate Capital bought Compute North’s stake in two of the sites, one in Nebraska and one in Texas, whereas the Upton County facility is owned and operated in a 50-50 joint venture with NextEra Energy (NEE). Original