Day: September 21, 2023

Why Touching This Bitcoin Level Could Hold The Key For A Rally

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The price of Bitcoin was rejected as it approached critical resistance north of $27,000, and selling pressure continues over today’s trading session. If buyers can’t defend current levels, BTC’s price will likely re-test critical support, but this action could trigger a bounce for the cryptocurrency, according to fresh data. As of this writing, Bitcoin trades at $26,650, with a 2% loss in the last 24 hours. Over the previous seven days, the cryptocurrency has recorded sideways price action and underperformed XRP and Toncoin’s TON, which recorded a 5% and 25%…

Tether acquires stake in Bitcoin miner Northern Data, hinting at AI collaboration

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The firm behind stablecoin Tether (USDT) has invested an undisclosed amount into German-based crypto miner Northern Data Group in a move backing artificial intelligence (AI) initiatives. In a Sept. 21 blog post, Tether said the strategic investment into Northern Data through Tether group company Damoon was intended to demonstrate “its determination to support emerging technology”, hinting at collaborations involving AI, peer-to-peer communications, and data storage solutions. The company denied a report from Forbes regarding a $420-million investment, but did not specify the exact amount when reached for comment. Cointelegraph also…

a16z suggests Machiavelli to fix decentralized governance

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Principles written almost 500 years ago by Niccolò Machiavelli — author of the controversial political work “The Prince” — are the path to solving decentralized governance issues on autonomous organizations, according to a blog post by venture capital firm Andreessen Horowitz (a16z).  The piece is signed by a16z’s general counsel and head of decentralization Miles Jennings, who believes that “applying Machiavellian principles to decentralized governance in web3 can address current shortcomings.” According to Jennings, Machiavelli’s philosophy has a pragmatic understanding of struggles of social power, which are similar to those…

UK FCA gives unregistered crypto firms ‘final warning’ on ads regime compliance

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The Financial Conduct Authority (FCA), the United Kingdom’s financial markets regulator, has again expressed its concern over the lack of engagement on the part of crypto firms that will soon be subject to new marketing rules. The consequences of noncompliance could be severe, it warned. In a letter dated Sept. 21, the FCA said it was making a final warning to firms marketing crypto assets to UK consumers. The four-page letter first documented the efforts the agency had made to reach out to crypto firms and attempted to support them…

IMX token jumped by 33% in a few hours, experts suspect market manipulation

The price of the Immutable X blockchain project token jumped by 33% in a few hours, crypto experts claim this is a result of market manipulation. On the morning of Sept. 21, the IMX token rate increased by 32.56%, according to TradingView. At the moment, the price of IMX reached $0.83, later it rolled back, and the asset is now trading at $0.64. The capitalization of the asset also increased. In a matter of hours, it jumped from $647.5 million to $887 million, according to CoinMarketCap. Daily trading volume increased from…

Binance & Deribit Traders Aggressively Short Bitcoin, Squeeze Incoming?

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Data shows Bitcoin shorts have been piling up on cryptocurrency exchanges Binance and Deribit during the past few days. Bitcoin Funding Rates On Binance & Deribit Are Deep Red Right Now According to data from the analytics firm Santiment, traders on the derivative market have continued to bet against the cryptocurrency recently. The relevant indicator here is the “funding rate,” which keeps track of the periodic fee that derivative contract holders on an exchange are paying each other right now. When this metric has a positive value, it means that…

How to buy Bitcoin with Venmo

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Venmo, a versatile financial application, provides a range of features, including peer-to-peer (P2P) money transfers and cryptocurrency transactions. Serving as a comprehensive financial tool, Venmo enables users to seamlessly handle transactions, including the option to participate in digital currencies like Bitcoin (BTC). The app is designed to simplify financial operations and assist users in navigating contemporary economic systems. What is Venmo? Venmo, a mobile payment service established in 2009, has been under PayPal’s ownership since 2013. It operates as a P2P platform for money transfers within the United States. The…