Day: June 14, 2023

Fed pauses interest rates, but Bitcoin options data still points to BTC price downside

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Bitcoin’s price has been pinned below $26,300 since June 10, reflecting a 14.8% correction in two months. Meanwhile, the Nasdaq tech stock market index gained 13.6% in the same period, indicating that investors are not exactly fleeing to the safety of cash and short-term debt. In fact, the demand for United States government bonds has been declining for the past six weeks. U.S. 2-year government bond yield. Source: TradingView The yield on two-year U.S. Treasurys, for example, increased from 3.80% on May 4 to 4.68% on June 14. Lower demand…

US senators propose bill to eliminate Section 230 protection for AI companies

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U.S. Sens. Josh Hawley, a Republican from Missouri, and Richard Blumenthal, a Democrat from Connecticut, introduced a Senate bill on June 14 that would eliminate special protections for artificial intelligence (AI) companies that are currentl afforded to online computer services providers under the Communications Decency Act of 1996 (CDA). Today ⁦@SenBlumenthal⁩ and I introduce the first bipartisan AI bill – putting power in the hands of consumers to sue when AI harms them. It’s landmark protection for Americans, and more to come https://t.co/10rJOr5IP3 — Josh Hawley (@HawleyMO) June 14, 2023…

Bitcoin BTC Price Holds Sinks to 25.5K as Investors Shrug Off Fed Rate Hike Pause

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Still, indicator was pointing bullishly. A price pattern called “throwback” has emerged on bitcoin’s daily chart that could recharge bulls’ engines for a rally toward $37,000, according to Valkyrie Investments. In technical analysis, a throwback is a price drop to a former breakout level or resistance-turned-support. After a breakout, prices rally for some days before losing upward momentum and returning to the breakout point. More often than not, prices surge after the throwback is completed, Thomas Bulkowski detailed in his book “Visual Guide to Chart Patterns.” Original

Jack Dorsey’s relief fund pledges $5M donation to Bitcoin-focused nonprofit

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Brink, a nonprofit organization aimed at supporting Bitcoin developers, has announced a $5 million donation from Block CEO Jack Dorsey and his Start Small funding group. In a June 14 tweet, Brink said Dorsey and Start Small pledged to make $1 million in donations annually for the next five years as part of “developer funding efforts.” Prior to his departure as CEO of Twitter, Dorsey launched the fund in April 2020 in an effort to fight the COVID-19 pandemic. At the time, the Twitter CEO said he had seeded the…

Adidas announces collaboration with NFT artist Fewocious

Adidas, the global apparel company, has partnered with digital artist Fewocious for a special sneaker collaboration that combines physical footwear with NFT technology. The collaboration will involve the release of 4,500 editions of an NFT mint pass named “Trefoil Flower,” which can be obtained exclusively through the OpenSea marketplace starting from June 22. NFC tags embedded in every sneaker In a June 13 announcement, Adidas took to Twitter to share the news of their NFT collaboration with Fewocious, the artist who garnered recognition for achieving $50 million in lifetime sales,…

Here’s what happened in crypto today

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The crypto market remains volatile after the June 14 Federal Open Market Committee (FOMC) announcement and presser with Fed Chairman Jerome Powell revealed that the central bank would pause rate hikes for June. While this move aligned with investors’ expectations, the crypto market has yet to show any bullish momentum. Powell also mentioned that at least two more rate hikes would be needed in the future.  Bitcoin price started the day up, trading above $26,000, but it has since retraced to a 24-hour low of $25,791 after the FOMC announcement.…

Haru Invest files criminal complaint against consignment operator

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B&S Holdings, formerly known as Aventus, a consignment operator, has been alleged by South Korean yield platform Haru Invest of submitting fraudulent management reports containing “false information” and deceiving the company and its users. Notice to Investors (June 14, 2023): https://t.co/RN01gswTfq pic.twitter.com/IbYb9dA3oP — Haru Invest (@haruinvest) June 14, 2023 In a blog post, Haru Invest shared that it was planning to pursue legal action on top of criminal proceedings against B&S Holdings “to protect our users.” Haru Invest said it is engaged in discussions with B&S Holdings regarding the matter.…