Day: October 19, 2023

BTC price climbs above $28.6K as Bitcoin awaits ‘very dovish’ Fed Powell speech

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Bitcoin (BTC) kept pressure on $28,500 after the Oct. 19 Wall Street open ahead of a key speech on United States economic policy. BTC/USD 1-hour chart. Source: TradingView Lepard: Powell may flip “very dovish” Data from Cointelegraph Markets Pro and TradingView showed BTC price action gaining strength ahead of commentary by Jerome Powell, chair of the Federal Reserve. Due to speak at the Economic Club of New York at 12 pm Eastern Time on Thursday, Powell faces a complex macroeconomic scenario with 10-year United States bond yields at their highest…

Grayscale makes new attempt for spot bitcoin ETF approval

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Investment giant Grayscale has filed a new registration statement with the U.S. Securities and Exchange Commission (SEC) in its ongoing attempt to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF. According to The Block, the decision on the application comes shortly after a ruling by the D.C. District Court ordering the regulator to reconsider the firm’s application. The firm filed an S-3 filing, a shortened version of the typical S-1 filing used to offer new shares. This comes as other major asset managers, including BlackRock and Fidelity, are…

Atomic Wallet freezes $2M in ‘suspicious deposits’ on exchanges

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Hacked cryptocurrency wallet Atomic Wallet has frozen $2 million in “suspicious deposits” in a joint effort with major crypto exchanges. Announcing the news to Cointelegraph on Oct. 19, Atomic Wallet said that blockchain intelligence firms Chainalysis and Crystal have assisted the wallet firm in identifying and containing the threat. Citing reports from Chainalysis and Crystal, Atomic Wallet reported that the “threat actor” used sophisticated methods to bridge the funds to the Bitcoin blockchain, including bridges and mixers. “Most funds have ultimately ended up on the Tron blockchain and Bitcoin network,”…

BlackRock’s Bitcoin ETF Approval Could Boost BTC Price to $42K-56K

Matrixport’s analysis suggests that if Tether’s (USDT) market cap increases by $24 billion, acting as a proxy for potential ETF inflows, Bitcoin’s price could rise to $42,000, representing a conservative estimate. A recent report from the crypto financial services platform Matrixport suggests that the approval of BlackRock’s Bitcoin Exchange Traded Fund (ETF) could propel the price of Bitcoin (BTC) to the range of $42,000 to $56,000. The Impact of BlackRock’s ETF Approval on BTC Price These projections are not just a result of speculation. Historically, the approval of traditional ETFs…

Coinbase Picks Ireland as Its Main Regulatory Hub in EU

Coinbase is looking to expand its footprint in Europe amid more crypto-friendly MiCA laws that will allow it to operate in all 27 EU states under a single license. In a major move, crypto exchange Coinbase Glonal Inc (NASDAQ: COIN) has decided that it will select Ireland as its regulatory hub in the entire EU region. Currently, Coinbase already has its presence in Ireland holding an office in Dublin since 2018. As of now, Ireland employs nearly 100 people in Ireland. Coinbase has applied for a license under the EU’s…

What Crypto Can Learn From Regulatory Overhauls at PayPal, Robinhood and Revolut

Similarly, regulation in crypto can encourage greater transparency by utilizing blockchain’s distributed ledger technology. We’ve seen legislation such as MiCA attempt to implement verification measures to bring Web3 in line with existing financial institutions. For example, it limits non-KYC’ed wallet addresses to 1,000 euros (~$1,057) per transaction — while KYCd addresses can transact freely. This could be considered a positive step in the right direction. Larger participants hold a greater share of the market, so, they should be held more accountable for their on-chain behavior. Source

XRP Price Set For Massive Rally As BlackRock And JPMorgan Make Their Move

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Amid the struggles in the cryptocurrency market, recent reports have suggested that the world’s largest asset manager Blackrock, and financial giant JPMorgan might spark a massive bull run for the XRP price as they work simultaneously. Blackrock, JPMorgan Move Might Affect XRP Price According to the report, Forbes Senior Contributor, Billy Bambrough, highlighted that Blackrock and JPMorgan are purportedly laying the foundation for an impending surge in the cryptocurrency sector. The report further identified several collaborative cryptocurrency moves taken by the two financial powerhouse firms. Bambrough pointed out a recent…

Lightning Labs Launches Taproot Assets Mainnet to ‘Bitcoinize the Dollar’

Through Taproot Assets, Lightning Labs is bringing stablecoins to Bitcoin and Bitcoinizing traditional assets including the dollar. Bitcoin layer-2 infrastructure firm Lightning Labs has officially launched the mainnet of Taproot Assets, a protocol that supports the issuance of stablecoins and real-world assets on the Bitcoin and Lightning networks. According to an official announcement, the mainnet release will support functionality on the Bitcoin blockchain, with support for Lightning expected soon. Lightning Labs adds that Taproot Assets v0.3 will give builders all they need to make Bitcoin a “multi-asset network”. It will do…

What is the Pareto 80/20 rule, and how does it apply to cryptocurrencies?

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The Pareto principle, explained The Pareto principle emphasizes how crucial it is to identify key players, major cryptocurrency or influential projects. According to the Pareto principle, commonly referred to as the 80/20 rule, roughly 80% of outcomes result from 20% of causes. Vilfredo Pareto, an economist from Italy, observed that 20% of the population in Italy controlled 80% of the country’s land at the beginning of the 20th century.  Since then, this principle has been employed in many different sectors over the years and is frequently invoked to highlight the…