Day: September 1, 2023

Wise Accidentally Facilitates Withdrawal for Sanctioned Russian

While the sum involved in this sanction violation might appear insignificant, it highlights the industry’s ongoing struggle to prevent breaches following global geopolitical events. British financial technology giant Wise Plc (LON: WISE) has found itself entangled in controversy after unintentionally allowing an individual on the Russian sanctions list to withdraw money. The Office of Financial Sanctions Implementation (OFSI) revealed in a recent report that the individual was able to withdraw £250 ($316.63) from a Wise business account. New Sanctions in the Wake of the Ukrainian Crisis Following Russia’s invasion of…

Bitcoin Price Crashes Below $26,000 As SEC Pushes Back On 7 Spot ETF Filings

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On August 29, flagship cryptocurrency Bitcoin soared to as high as $28,000 following Grayscale’s victory. However, it has now lost these gains as the US Securities and Exchange Commission (SEC) chose to delay its decisions on seven Spot ETF applications.  Bitcoin Crashes Below $26,000 Bitcoin dropped by over 4% to $26,000 as the SEC extended the timeline to decide on the ETF applications of BlackRock, WisdomTree, Invesco, Fidelity, Valkyrie, VanEck, and Bitwise. This price action contrasts with when the cryptocurrency had reacted positively to the news of Grayscale’s victory, with…

Bitwise withdraws Bitcoin and Ether Market Cap ETF application

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In an unexpected turn of events, Bitwise submitted a request to retract its application for its Bitcoin and Ether Market Cap Weight Strategy exchange-traded fund (ETF), initially filed with the United States Securities and Exchange Commission (SEC) on Aug. 3. While market sentiment turned bullish following Grayscale’s SEC victory, Bitwise appears to be reassessing its strategy. The withdrawal of the ETF application was unexpected; however, in the filing, a statement read, “The fund seeks to provide investors with capital appreciation. There can be no assurance that the fund will achieve…

Bitcoin heads for red September, but analysts tip October as ‘days to watch’

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Bitcoin investors may be in for a rollercoaster ride. While history shows September is typically a bumpy month for Bitcoin — two ETF analysts have suggested investors turn their gaze to mid-October as the next “major days to watch.” According to historical data, Bitcoin’s monthly returns have closed in the red at the end of September nine times over the course of the last 13 years. Popular crypto analyst Will Clemente informed his 689,000 X followers that September has had the “least number of positive-returning months” and is on a…

TRX Eyes Bullish Break While Bitcoin and ETH Struggle

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Tron price is rising and trading above $0.0750 against the US Dollar. TRX is outperforming Bitcoin and could rally further above the $0.0780 resistance. Tron is moving higher from the $0.0738 support zone against the US dollar. The price is trading above $0.0750 and the 100 simple moving average (4 hours). There is a crucial contracting triangle forming with resistance near $0.0775 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher if it breaks $0.0775 and $0.0780. Tron Price Remains…

Ethereum Faces Rejection Yet Again, Can Bulls Protect This Key Support?

Ethereum price failed to reclaim $1,750 and trimmed all gains against the US Dollar. ETH could accelerate lower if it breaks the $1,630 support. Ethereum started a fresh decline below the $1,700 level. The price is trading below $1,700 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,690 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its decline if there is a close below the $1,630 support. Ethereum Price Trimmed Gains Ethereum’s price failed to…

NFT trades surge as the average sale price hikes

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Non-fungible token (NFT) sales have witnessed a significant surge after taking a downward curve between Aug. 25 and 29. According to CryptoSlam, NFT sales grew by 36.5% in the past 24 hours, reaching roughly $14.25 million. Per the data aggregator, the total trades are still down by 19% from its local top of $17.61 million on Aug. 17. Moreover, the total number of transactions and the average sale have also registered 9.05% and 32.33% hikes. Per…

Ronaldinho denies part in alleged $61M crypto scam at congressional hearing

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Retired pro soccer star Ronaldinho Gaúcho has testified at a congressional hearing in Brazil, denying his involvement in an alleged $61 million crypto pyramid scheme that bore his name. On Aug. 31 Ronaldinho appeared before a parliamentary committee inquiry where he refuted any role in the scheme called “18kRonaldinho” that promised 2% daily returns on crypto. A lawsuit was filed against the firm seeking $61 million in damages. Ronaldinho claimed he was never partnered with th company and it used his name and image without his authorization, arguing he was…

Bitcoin Price Back To Square One, Why This Could Be A Bearish Signal

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Bitcoin price trimmed all gains and tested the $25,650 zone. BTC is now at risk of a fresh decline toward the $24,500 level in the near term. Bitcoin started a fresh decline below the $26,500 and $26,200 levels. The price is trading below $26,600 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $26,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its decline toward $24,500 in the coming sessions. Bitcoin Price Starts…