Day: September 27, 2023

SEC’s Gensler taken to task over crypto custody guidance again in House hearing

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Gary Gensler, chairman of the United States Securities and Exchange Commission, told the House Financial Services Committee hearing on Sept. 27 that he enjoys testifying before the committee. He had well over four hours of that pleasure that day, much of which was devoted to criticism of his agency’s policies and actions. Among the long list of discontents, one of the most narrowly focused was Representative Mike Flood’s questioning regarding the SEC’s Staff Accounting Bulletin (SAB) 121, issued in March 2022. The SAB concerned accounting and disclosure of crypto assets…

Crypto exchange Kraken plans move into US stock trading: Report

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Cryptocurrency exchange Kraken reportedly plans to offer users trading services for stocks listed in the United States and exchange-traded funds, or ETFs. According to a Sept. 27 Bloomberg report, the U.S.-based exchange planned to launch its trading services in the U.S. and United Kingdom sometime in 2024 through a division called Kraken Securities. Kraken’s expansion of investment vehicles beyond cryptocurrencies would require licensing from the Financial Industry Regulatory Authority and financial regulators in the U.K., which the exchange reportedly already holds. The reported move by the crypto exchange came roughly…

Why Chainlink Could Be The Altcoin To Watch, Top Trader Says

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Chainlink (LINK), the decentralized oracle network, has been making waves in the cryptocurrency space recently. Renowned crypto analyst Altcoin Sherpa, known for his insightful market predictions on the social media platform X, has voiced strong support for Chainlink, highlighting its promising fundamentals.  With a current price of $7.45 on CoinGecko, LINK has been steadily gaining traction, posting a 0.2% gain in the past 24 hours and a 9.1% increase over the last seven days. Sherpa’s Vote Of Confidence On Chainlink Altcoin Sherpa’s LINK endorsement carries significant weight in the crypto…

Bitcoin price holds steady as S&P 500 plunges to 110-day low

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On Sept. 20, the United States Federal Reserve delivered a message that reverberated through financial markets: Interest rates are expected to remain at their highest level in over two decades, possibly for longer than most market participants’ expectations. This attitude comes against the backdrop of stubbornly high inflation — with the core inflation rate hovering at 4.2%, well above the central bank’s 2% target — and unemployment at record lows.  As investors grapple with this new reality, a pressing question arises: Will the S&P 500 and Bitcoin (BTC) continue to…

SEC’s Gensler is loyal to banks, not an impartial regulator — Rep. Tom Emmer

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United States Rep. Tom Emmer has spoken out against Securities and Exchange Commission chairman Gary Gensler during a hearing at the House Financial Services Committee on Sept. 27. According to the lawmaker, Gensler has been loyal to Wall Street “at the clear expense of innovation, competition, and everyday Americans.”  Over the course of a 4-minute questioning, Emmer hinted at Gensler’s background in finance, which included 18 years with Goldman Sachs, where he was a partner and co-head of finance. As per Emmer’s view, Gensler’s ties to the financial industry limit…

Crypto Exchange Kraken to Explore Stock Trading: Bloomberg

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Chainlink (LINK) Brushes Off Market Downtrend, Scores 11%

Chainlink has remained bullish despite the bearish pressure in the broader crypto market. The crypto closed bullish at $7.4 yesterday, September 26, with over 7% increase.  LINK remains bullish, with an 11% seven-day price increase and over 2% gain in the last 24 hours. But while the token’s price continues to increase, data shows the trading volume has declined 17% in the last 24 hours. What could be the reason behind this contradiction? Chainlink Price Continues To Surge In an X post on September 24, Chainlink network announced it had…