Day: November 20, 2023

6 Questions for Alex O’Donnell about the future of DeFi

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Umami Labs CEO Alex O’Donnell grew up on the outskirts of Philadelphia before attending Temple University to study literature and economics. That path led him to devote seven years of his life as a financial journalist at Reuters, where he specialized in M&As IPOs. He said his academic focus created a “pretty natural synthesis” when it came ot financial journalism. However, he said he became “disenchanted” with his industry while he was cooped up at home during the Covid-19 pandemic. “There really was a three-way alliance between journalists, government officials…

Why Bitcoin Overhead Resistance Is Weak

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Bitcoin price is only at $37,500 — a far cry from former all-time highs around $68,000. However, one visual technical analysis tool could show that overhead resistance is weak, and that the top cryptocurrency could rip right through what’s left. Could BTCUSD be back at all-time highs faster than most are ready for? Bitcoin Price Breaks Above The Monthly Ichimoku Cloud Technical analysts rely on a variety of tools to help provide signals to visually inspect and either manually or automatically take positions based on the results. One such tool,…

SEC sues Kraken alleging it’s an unregistered exchange, mixes user funds

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The United States Securities and Exchange Commission (SEC) has sued Kraken alleging it commingled customer funds and failed to register as a securities exchange, broker, dealer, and clearing agency with the regulator. In a Nov. 20 complaint in a California District Court, the SEC claimed that since 2018 Kraken had operated as a platform that unlawfully facilitated the buying and selling of cryptocurrencies. “Without registering with the SEC in any capacity, Kraken has simultaneously acted as a broker, dealer, exchange, and clearing agency with respect to these crypto asset securities.” Additionally, the…

Analyst details potential BEAM price volatility

The price of Beam (BEAM), the native cryptocurrency of the Beam gaming network, has seen significant unpredictability in recent days according to a popular YouTube crypto analyst. In a video posted to the CryptoWorld YouTube channel on Nov. 20th, the analyst explained that BEAM had increased its price 11% in the last 24 hours before crashing back down. However, the analyst believes BEAM is positioned for another leg up after forming a head and shoulders pattern on the technical chart. The crypto analyst believes Beam is on the verge of…

SOL Price Forecast Takes Bearish Turn, Prepare For Potential Plummet To $30 Or Lower

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Solana (SOL) has emerged as a prominent player in the dynamic world of cryptocurrency, showcasing a remarkable uptrend and delivering substantial gains. Despite a modest 3.6% correction in SOL price over the past 24 hours, the native token of the blockchain platform has recorded a significant increase of 43% over the past fourteen-day period. However, the sustainability of these gains may be in jeopardy, as the SOL price appears poised for a significant decline and deep correction following an impressive 346% surge over the past year. SOL Price Vulnerable To…

Cambodian digital currency bakong amps up use case with Alipay agreement

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The bakong, a digital currency operated by the National Bank of Cambodia (NBC), will provide users with access to the Alipay merchant network and enable cross-border transactions on Alipay+ using QR codes under a memorandum of understanding (MoU) signed at the FinTech Expo in Singapore, the local press reported. The bakong service operates by the NBC on a blockchain, but it is not a central bank digital currency (CBDC), as the currency is a liability of the commercial banks that use it. The bakong enables both United States dollar and…

3 Altcoins Set To Skyrocket In Next Crypto Bull Run, According To Analyst

Several altcoins have garnered attention for their potential in the next bull run. Nick, a prominent crypto analyst and host of the Cheeky Crypto YouTube channel, has pinpointed three specific altcoins that he believes are poised for significant growth in the forthcoming market surge. Based on current market trends and developments, Nick’s analysis highlights these altcoins for their unique features and potential growth trajectories. These predictions offer insights into which could be the next big movers in the crypto world. Three Altcoins Poised For Potential Surge Solana (SOL) is one…

US regulators continue to discuss crypto: Law Decoded, Nov. 13–20

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The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s Chair, Representative French Hill, declared that as “phone and the internet aren’t to be blamed for terror financing,” crypto shouldn’t be either. The witnesses, including representatives from Consensys and Chainalysis, spoke about the need for…

PYTH Airdrop Shines Spotlight on Pyth Network, Blockchain Oracle to Rival Chainlink

Pyth, by contrast, sources data directly from first-party financial institutions – both traditional and crypto-centric – like Jane Street and Binance. While this institution-driven system carries whiffs of “centralization” – anathema to the disintermediating world of crypto – it brings drastic speed improvements, several orders of magnitude faster than competing services, supposedly in the name of serving the demands of modern finance. Source link