The Bitcoin (BTC) price is expected to squeeze if the August Consumer Price Index (CPI) rises further and the collapsed crypto firm FTX gets approval for liquidation. According to the market analyst with the X (formerly Twitter) handle CrypNuevo, the U.S. CPI, scheduled for Sept. 13, might see an upsurge from 3.2% to around 3.6%. This could trigger FUD (fear, uncertainty, and doubt) among investors, which might ultimately initiate a selling pressure. Moreover, another bearish expectation comes from the possibility of FTX’s liquidation. The bankrupt crypto platform reportedly has roughly…
Day: September 12, 2023
BIS Project Tests CBDCs Directly Settled on Central Bank Balance Sheet
“If central bank money is to go digital, cybersecurity is key,” Andrew Abir, Deputy Governor of the Bank of Israel, which is examining whether to issue a digital shekel, said in a statement. “The project proved the feasibility of the model we had in mind.” Source
Eureka Entertainment and Astar Network Collaborate for “CoinMusme” Blockchain Game Development
Eureka Entertainment Ltd., led by CEO Takuya Tsuji, has officially declared a collaboration with Stake Technologies Pte. Ltd., under the leadership of CEO Sota Watanabe. The partnership aims to further the development of the blockchain game “CoinMusme.” A significant highlight of this collaboration is the introduction of a new character, “Astar.” To commemorate the introduction of “Astar,” a special event is in the pipeline. Eureka Entertainment is set to distribute 100 exclusive NFTs to a select group of fortunate users. Those interested in participating in the giveaway need to follow…
Binance.US calls SEC’s court requests ‘unreasonable’ in new filing
Binance.US has responded to the motion to compel and reply by the United States Securities and Exchange Commission (SEC), calling most of the SEC’s requests “unreasonable” and “unduly burdensome.” Attorneys of BAM Trading Services, which operates Binance.US cryptocurrency exchange, on Sept. 12 filed sealed documents for opposition to the U.S. SEC seeking additional details from Binance.US. The defendants argued that the SEC’s requests for production and interrogatories are “overly broad, unduly burdensome” and “beyond the scope of the consent order.” BAM attorneys claimed that the SEC’s demand for certainty, as…
Cryptocurrency Altcoin Crash Is Coming: Matrixport
FTX is not the only major seller of crypto assets, venture capital funds are also under pressure to return money to their investors, the report said. Source
CNA Insurance excludes NFTs from coverage of $20M trust policy
CNA Financial, the seventh-largest commercial insurer in the United States, has excluded nonfungible tokens (NFTs) coverage from Schwab Strategic Trust’s policy worth $20 million. In a filing submitted to the US Securities and Exchange Commission (SEC), the insurer attached an exclusion to the document, mentioning that the bond does not cover any “loss, damage, claim, occurrence, or suit related to NFTs. The filing defined NFTs as: “Any unique digital identifier connected to any digital ledger technology which may be used to certify authenticity or ownership of anything, including but not…
Bitcoin Price Bounces Back To $26,000, Here’s Why
In a swift turnaround from yesterday’s dip, Bitcoin (BTC) surged to nearly $26,000 during Asian trading hours on Tuesday. This recovery, which saw the BTC climb from $25,210 to $25,973 in a mere 30 minutes (from 3:00 am to 3:30 am UTC), was not driven by any specific news event. Instead, the dynamics within the Bitcoin futures market played a pivotal role. Why Has The Bitcoin Price Bounced Upwards? Renowned analyst Skew provided a technical perspective on the price movement, referring to it as a “textbook short squeeze.” Delving deeper…
SEC’s Gensler accuses crypto industry of ‘wide-ranging non-compliance’
In written remarks submitted ahead of a hearing before the US Senate Banking Committee, SEC Chair Gary Gensler has once again reiterated his stance on crypto. The US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, doesn’t seem to change his mind on crypto despite the recent challenges the regulator faced in court. In a written testimony submitted ahead of a hearing before the US Senate Banking Committee, the SEC boss has once again doubled down on his position against the industry. He said that “most crypto tokens are subject…
CFTC Commissioner plans to modernize investor protection with technology
CFTC Commissioner Christy Goldsmith Romero recommended regulators modernize its protection measures using technological advances as she warned that failure to do so would have a negative impact on American investors. Romero, speaking at the North American Securities Administrators Association’s annual meeting in San Diego, California, said that the government’s inability to keep pace with technology would affect the most vulnerable investors. She added: “As regulators are making policy decisions on next-generation technology, it is critical that we have a foundational understanding of the technology, and its implications for finance and…
Crypto.com Introduces New Crypto Earn Program to Customers
The platform noted that the old reward structure for USDC will no longer apply, so users can take advantage of the simplified Earn Plus system. Renowned global crypto platform Crypto.com has taken a giant leap forward by introducing its all-new Crypto Earn program known as ‘Earn Plus’. This program promises a new and improved offering with a clearer reward system, bigger allocation limits, and higher reward rates. Standout Features of ‘Earn Plus’ One of the standout features of Earn Plus is its simplified reward structure. Crypto.com understands that not all…