Day: September 19, 2023

Here’s Where Next Bitcoin Resistance Lies, From An On-Chain Perspective

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Here’s where the next major resistance to clear Bitcoin could lie from the perspective of on-chain analysis. Bitcoin Resistances According To On-Chain Data Bitcoin has recently observed a surge beyond the $27,000 mark, and many have been wondering how long this fresh rally could continue for the cryptocurrency. One way to determine this could perhaps be by looking at where the major resistance levels are. In terms of on-chain analysis, “resistance” generally lies in regions where many investors have their cost basis present because of how holder psychology tends to…

CZ post on X about Ceffu and Binance.US contradicts SEC claims, adds to confusion

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After a judge declined to give the United States Securities and Exchange Commission (SEC) unfettered access to Binance.US software at a hearing on Sept. 18, Binance CEO Changpeng Zhao (CZ) took to X (formerly Twitter) to make a statement about one point of contention with the SEC. “For the record. Binance US does not use, and have NEVER used Ceffu or Binance Custody. You can’t just make this stuff up.” CZ said in a Sept. 19 post. CZ’s statements did not make the record any clearer. For the record. Binance…

Crypto Wants a De Minimis Tax Exemption in the U.S.

“Unlike traditional government-issued currencies, property does not enjoy a de minimis exemption. This is in contrast to how foreign currencies are treated, which do enjoy an exemption,” a letter authored by Coin Center said. “… This means that every time you buy a cup of coffee or anything else with bitcoin, it counts as a taxable event. If you have experienced a gain because the price of bitcoin has appreciated between the time you acquired the bitcoin and the time you used it, you have to report it to the…

SBF’s Dad Joe Bankman Thought FTX Wasn’t Paying Him Enough, So He Got SBF’s Mom Barbara Fried Involved

Bankman-Fried’s dad, Joe Bankman, was paid a $200,000 salary by FTX’s U.S. division, according to the filing from FTX’s bankruptcy estate, which just sued the parents. But that wasn’t enough, he said, telling an FTX executive in a Jan. 12, 2022, message that he was supposed to get $1 million annually starting the previous month, according to the filing. Source

Terra Validator Opposes USTC Burning, Pushes Alternative Plan To Regain Dollar Peg

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A Terra Classic community member with the X handle Rexyz has kicked against burning USTC tokens to enable the stablecoin to recover its dollar peg. According to the X post made on September 18, Rexyz outlines an alternative solution that may lead to USTC being re-valued $1 as well as push Terra Classic (LUNC) price to reach the $1 price mark. Since the collapse of the Terra ecosystem in 2022, the USTC stablecoin has lost its dollar peg and now trades at 98.8% below the $1 mark.  Following this catastrophic…

Latvia central bank opens to fintech with ‘Innovation Hub’

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Fintech innovations and emerging technologies have swept the world, causing global lawmakers to rush to understand and regulate them.  While some countries like the United States and El Salvador have had a public relationship with adopting new technologies, others have quietly joined the game. Among these is Latvia, a small country located in the Baltics, neighboring Estonia and Lithuania. Cointelegraph spoke with Marine Krasovska, the head of financial technology at Latvijas Banka (Bank of Latvia) — Latvia’s central bank — to better understand how regulators in the country are dealing…

Top Bitcoin (BTC) Forecasts for 2024

While all the predictions from influential figures and institutions mentioned in our article provide intriguing insights, it’s always crucial to approach them with caution. Bitcoin (BTC), the world’s largest cryptocurrency, has been on a bullish but rollercoaster ride since its inception in 2009. Over the years, it has gained popularity as both a cryptocurrency and a fast-growing investment asset. As we approach 2024, the crypto market is bound to continue evolving, and Bitcoin is tipped to stay at the vanguard of this evolution. In this article, we will look at…

Hong Kong will potentially launch stablecoin regulations by mid-2024

Hong Kong is aiming to finalize stablecoin regulations by mid-2024, highlighting the territory’s contrasting approach to mainland China.  Legislative Council member Duncan Chiu has signaled that Hong Kong is on track to finalize its stablecoin regulations by mid-2024. The announcement was made at the Shanghai Blockchain International Week, according to a local news outlet.  Hong Kong potentially wants to establish the region as a web3 nexus, driven by regulations and diverging from China’s more restrictive stance on cryptocurrency. Regulatory roadmap for Hong Kong’s stablecoin regulation Chiu revealed that the legislative…