Recent price surges have caused bitcoin to cross price peaks against the Turkish lira and the Nigerian naira, data shows. As of Friday morning, bitcoin traded at 9.6 million against lira (TRY) and 27.4 million against naira (NGN), extending monthly gains to as much as 30% in local currency terms. Source
Unlike crypto rules in neighboring Hong Kong, the bill doesn’t take a strong position on derivatives or stablecoins. It does, however, acknowledge that derivatives linked to virtual assets have unique characteristics (perpetual contracts are mentioned specifically) that may not fully align with traditional financial regulations, opening the door to crypto derivative-specific regulation in a later draft. Source
As the crypto winter drags on, many investors have turned bearish on the sector. But according to Amy Wu, a consumer and gaming partner at Menlo Ventures and former head of FTX Ventures, there are still exciting opportunities in blockchain and crypto if you know where to look. In a tweet on Oct. 25th, Wu outlined what she looks for when evaluating crypto companies to invest in. Wu details that she hopes to see that the company’s target audience extends beyond just crypto natives. To achieve mainstream adoption, products need…
The crypto community is abuzz with speculation as analysts draw parallels between the current XRP price movement and the 2017 Bitcoin (BTC) fractal. With several events on the horizon, many are wondering if the cryptocurrency is on the brink of a significant breakout. Cryptoinsightuk, a recognized figure in the space, tweeted yesterday, “XRP Blast off in T-19 days. I’ve seen a lot of people overlay the 2017 BTC fractal to the present day and to be honest it is following it VERY closely.” Accompanying the tweet were images highlighting the…
SEC Chair Gary Gensler’s recent address at the 2023 Securities Enforcement Forum highlighted the agency’s $5 billion enforcement success and provided a critical view on cryptocurrency, sparking vital discussions in the crypto industry. Chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler addressed the 2023 Securities Enforcement Forum on Oct. 25, highlighting the agency’s successful enforcement actions, but also reigniting the debate on cryptocurrency regulation. Gensler’s strong remarks about the crypto market, stating that most crypto assets likely qualify as securities, have stirred controversy, calling for a critical…
“The milestone has been achieved with nearly double the number of outstanding contracts, representing not just a substantial triumph for Deribit, but also a clear indicator of the broader market growth and the escalating interest in options among our clients,” Luuk Strijers, chief commercial officer at Deribit, told CoinDesk. Deribit controls 90% of the global crypto options activity. Source
Binance co-founder and CEO Changpeng “CZ” Zhao has seen his net worth slashed by $11.9 billion amid falling trading volumes at his exchange. On Oct. 26, the Bloomberg Billionaires Index cut Binance’s revenue estimates by 38% amid a slump in exchange volumes which knocked Zhao down to 95th place on the rich list. Zhao’s net worth is now a paltry $17.3 billion, registering an 82% drop from its $96.9 billion peak in January 2022, where he was ranked 11th among the world’s richest people. Zhao’s net worth peaked at $96.9…
The price of Bitcoin (BTC) has notched new all-time highs against some of the world’s most inflationary fiat currencies. Across 30 hours over Oct. 23 to 24, the cost of buying one Bitcoin has reached all time-highs when using the Argentine peso (ARS), Nigerian naira (NGN), Turkish lira (TRY), Laotian kip (LAK) and the Egyptian pound (EGT). #Bitcoin just hit an all-time high in Argentina, Turkey and Nigeria. pic.twitter.com/sKRNUaBMX8 — Miles Deutscher (@milesdeutscher) October 26, 2023 However, it should be noted that the result is due to the ongoing devaluation of…
Could Bitcoin (BTC) be headed for an imminent pullback? Some crypto market observers believe the answer could be hiding within the price action of a frog-themed memecoin. In an Oct. 27 post on X (formerly Twitter), Onchain Capital co-founder and Crypto Banter host Ran Neuner suggested that memecoin Pepe (PEPE) is a strong indicator of overblown crypto market fever. If you want to know when a pull back is coming, just watch $PEPE. It’s literally an index for when the market is getting overheated. When people are confident enough to…
BNB price struggled to climb above $240 and corrected gains against the US Dollar. It is now approaching a major support zone at $220 and $215. BNB price is slowly moving lower toward the $220 support against the US Dollar. The price is now trading above $215 and the 100 simple moving average (4 hours). There is a key bullish flag pattern forming with resistance near $225 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair might gain bullish momentum if there is a clear…