Day: July 26, 2023

Bitcoin gets $28K ‘plunge protection’ with BTC price due new volatility

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Bitcoin (BTC) traders braced for classic volatility on July 26 as the United States Federal Reserve interest rate decision dawned. BTC/USD 1-hour chart. Source: TradingView “Let the games begin” for Bitcoin — FOMC day arrives Data from Cointelegraph Markets Pro and TradingView showed BTC price action hovering near $29,200. While barely moving since the start of the week, Bitcoin volatility was fully on market participants’ radar with macro triggers just hours away. As the first of these, the Fed rates announcement was tipped to spark erratic, if unreliable short-term BTC…

Litecoin Bulls Barrel Back Toward $92 Level

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The Litecoin (LTC) price decrease was a healthy retracement as it pulled back toward the $92 mark. Such retracements are standard after prolonged upward trends and are often seen as an opportunity for the market to find stability before continuing its upward trajectory.  However, in the case of Litecoin, the bears have become increasingly dominant, signaling potential resistance ahead. LTC has been facing a significant price drop, falling below the crucial $90 level to $89.47, as reported by CoinGecko. The altcoin experienced a minor 0.3% increase in the last 24…

Google, OpenAI, Microsoft form ‘Frontier Model Forum’ to regulate AI development

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Big Tech giants Google, Microsoft, ChatGPT maker OpenAI and AI startup Anthropic announced on July 26 they would form a new industry watchdog group to help regulate AI development.  In a joint statement released on the Google blog, the companies revealed their new Frontier Model Forum aimed at monitoring the “safe and responsible” development of frontier AI models. It pointed out that while governments across the world have already begun putting efforts towards regulating AI development and deployment, “ further work is needed on safety standards and evaluations.” “The Forum…

Binance Pulls Back German Crypto License Application

“Binance confirms that it has proactively withdrawn its BaFin application,” a spokesperson told CoinDesk in an emailed statement. “The situation, both in the global market and regulation, has changed significantly. Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes.” Source

Binance lists new zero trading fee stablecoin, halts shortly after on technical issues

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The recently introduced stablecoin, FDUSD, which was scheduled to be listed on Binance on July 26, 2023, at 08:00 (UTC), enabling trading for FDUSD/BUSD and FDUSD/USDT spot and margin trading pairs has now been postponed to restart at 2023-07-26 14:00 (UTC) due to FDUSD pairs’ liquidity providers experiencing technical issues. Binance released a statement that it will halt trading for First Digital USD (FDUSD) on 2023-07-26 09:45 (UTC) and cancel all pending FDUSD orders, to ensure its users’ protection. First Digital Group announced the launch of the First Digital USD…

Archax Launches Institutional Crypto Exchange, Lists 2 Pairs

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London-based Archax announced today (Wednesday) the launch of its institution-focused cryptocurrency exchange, which will be operational around the clock. The exchange is focused on catering to the demand from professional and institutional clients. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! Initially, the exchange has listed only BTC and ETH against USD. However, it plans to add more trading pairs in the coming weeks and throughout the rest of the year. “We are thrilled…

Bitcoin Sees Surge In Demand Despite Price Sideways Movement

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Summary: The count of new addresses trading BTC has rallied. This jump has occurred despite the strong resistance faced at $30,000. As BTC’s price continues to trade sideways, many holders have taken to coin distribution. New demand for leading coin Bitcoin [BTC], continues to climb despite its sideways price movement within the $28,000 and $30,000 regions since April, data from Glassnode revealed.  Source: Glassnode An assessment of the coin’s daily new addresses count on a 30-day moving average revealed an uptick since 22 May. Since then, the daily count of…

Binance to Reenter Japan in August 2 Years After FSA Warning, CZ Says

“It’s fantastic to see Japan being a leader in the Web3 regulatory environment … and I think it’s an example for the rest of the world to follow,” Zhao said. “And to that end, Binance is extremely happy to be able to participate in the Japanese market again, from the acquisition of the SEBC platform last November, and we were going to launch the full service in August.” He was speaking at the Web3 conference “WebX” held at the Tokyo International Forum through a video message, later tweeted by Binance.…