Month: May 2023

Bitcoin is about to explode, analyst suggests

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A recent video by the macrocycle analysis channel, The Chart Guys, hosted by crypto Youtuber Jason Pizzino, offered an extensive examination of historical cycles in stocks, real estate, and bitcoin (BTC). The analyst provided intriguing insights into possible market trends in six to twelve months. The video explored the influence of bitcoin on the global economy, pondering whether it is driving market shifts or the other way around. The role of timing in the global market…

Huobi Ordered to Cease Operations in Malaysia after Failure to Comply with Local Regulations

The Malaysian SC has urged the local investors to immediately cease trading via Huobi Global, withdraw their investments, and close their accounts. A leading centralized crypto firm Huobi Global Limited and its Chief Executive Officer Leon Li have been accused of operating a digital asset exchange in Malaysia without registration. As a result, the Securities Commission of Malaysia (SC) has ordered the cryptocurrency exchange to immediately cease operations within its jurisdiction. Notably, the SC has ordered Huobi Global to disable its official website and mobile applications in Malaysia henceforth. Huobi…

EU Slaps $1.3B Fine on Meta for Violating GDPR EU User Data Protection Laws

On Monday, the EU imposed a record $1.3 billion fine on social media giant Meta for transferring EU user data to the US.  Meta Platforms Inc (NASDAQ: META) recently incurred a record 1.2 billion euros ($1.3 billion) fine from the European Union (EU) for privacy violations. European privacy regulators alleged that the Facebook parent unlawfully transferred data from European users to the US. The Irish Data Protection Commission (DPC), which announced the penalty, also ordered Meta to cease the further transfer of EU user data to the US. However, Meta said it would…

Why is Bitcoin price stuck?

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Bitcoin (BTC) continues with its sideways BTC price action under $27,000 on May 22 as the bulls and bears find it hard to break the stalemate. Which way Bitcoin?  Notably, BTC price has fluctuated inside a narrowing ascending triangle range since May 11, defined by a horizontal resistance around $27,500 and a rising trendline support currently near $26,890. BTC/USD four-hour price chart. Source: TradingView On May 22, Bitcoin dropped below the support trendline to around $26,550 but recovered quickly afterward to $26,900 — a bullish rejection. Meanwhile, the volumes were…

Ryanair Posts Impressive FY23 Profit as It Capitalized on Its Oil Hedging Positions

The aviation business faces numerous problems and uncertainties, including fuel pricing, regulatory changes, geopolitical events, economic conditions, and competition from other carriers. Ryanair Holdings Plc (NASDAQ: RYAAY) one of the largest and most well-known low-cost carriers in Europe has reported a full-year net profit pegged at 1.43 billion euros ($1.55 billion). This record was boosted by increased traffic and rates, as well as favorable oil hedging positions of which it recorded more than 80% hedged at approximately $64 billion. Notably, fuel hedging allows airlines to secure fuel at predetermined prices,…

Blockchain Gaming Platform STEPN Integrates With Apple Pay, Here´s What We Know

According to an official announcement, the blockchain gaming platform STEPN has become the first app to integrate with Apple Pay. This project was launched in 2018, during the crypto craze driven by the Bitcoin bull run, as one of the first to reward users with a token for undertaking an activity. Apple And STEPN Partnered To Offer Convenience To Crypto Users The project will likely enter a new era of adoption as millions of people can access the platform via Apple Pay. Per the announcement, users can purchase the project’s…

Wise Shares Impacted by Management Shakeups Including Pending Departure of Eight-Year CFO

Wise saw its shares dip Monday after management announced that long-serving CFO Matt Briers would leave the company early next year.  Shares of British fintech firm Wise (LON: WISE) slipped 4% on news of CFO Matt Briers’ resignation next year. The London-based company’s stock slide also comes amid reports of CEO Kristo Kaarman’s paternity leave which begins in September. Wise’s shares are changing hands at 590 GBX after management made the announcements. Briers’ pending departure in 2024 comes after an eight-year tenure with the UK fintech powerhouse. During that period, Wise transformed from a…

Crypto Exchange Hotbit Suspends Operations after Five Years of Service

After five years of service, Hotbit joins Paxful and Bit4You to exit the crypto market. Hotbit, a centralized cryptocurrency exchange (CEX), has suspended its business operations. The company announced the decision on May 22, 2023, citing several factors including the change in crypto market trends, the depegging of stablecoins from their $1 benchmarks, and the deterioration of operating conditions. Hotbit was founded in 2018 and quickly became one of the most popular exchanges in the industry. The firm offers users various options to trade digital assets, including meme tokens such…