Day: November 22, 2023

Ethereum Price Recovery In Trouble? Here Are Key Hurdles To Fresh Increase

Ethereum price declined sharply alongside Bitcoin. ETH traded below $2,000, but it is still holding the key support at $1,920 and might attempt a fresh increase. Ethereum struggled to clear the $2,070 resistance and corrected lower. The price is trading below $2,000 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,990 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,000 hurdle. Ethereum Price Eyes Fresh Increase Ethereum price…

Bitcoin (BTC) and BNB Begin Recovery as Market Digests Binance Plea

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As of writing, BTC traded close to $36,400, having tanked over 4.5% to $35,700 Tuesday. BNB changed hands at $234, recovering from the overnight low of $223, CoinDesk data show. Both currencies, however, were still down 3.3% and 11.5% on a 24-hour basis, nursing hangover from Tuesday’s events, which saw Binance agree to a $4.3 billion settlement for violating sanctions and money-transmitting laws. Binance’s founder CZ pleaded guilty and stepped down as CEO in what’s called one of the largest corporate penalties ever, CoinDesk previously reported. Original

Grayscale met with SEC to discuss spot Bitcoin ETF details

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Executives from crypto asset manager Grayscale have met with the Securities and Exchange Commission to discuss details of its flagship Bitcoin (BTC) trust, which the firm wants to convert to a spot Bitcoin exchange-traded fund (ETF). A Nov. 20 SEC memo disclosed Grayscale CEO Michael Sonnenshein, legal chief Craig Salm, ETF head Dave LaValle and four other executives, along with five Davis Polk law firm representatives, met with the SEC’s division of trading and markets. The memo said discussions “concerned NYSE Arca, Inc.’s proposed rule change to list and trade…

Crypto analyst predicts XRP breakout soon

A popular YouTube crypto analyst known as “Mickle” released a bullish forecast for XRP in a recent video, arguing that the broader cryptocurrency market is on the cusp of a new bull run that will likely propel the price of XRP higher. The analyst highlighted recent positive developments like crypto exchange Binance appearing to avoid collapse as signs of stabilization in the market. This takes a massive black swan scenario off the table. […] Now that we know that the biggest exchange in the world is likely off the hook…

Bitcoin Price Plunge Due to Binance’s Settlement Could Be ‘Buy Dips’ – Here’s Why

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Bitcoin price declined over 4% and traded below the $36,500 support. BTC is still holding the key $35,650 support zone and dips might attract buyers. Bitcoin started a fresh decline after reports of Binance’s settlement and CZ stepping down. The price is trading below $37,000 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $36,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could struggle in the short term, but dips might be…

Aragon DAO votes to sue its founders over dissolution

Aragon DAO votes to sue its founders after they unilaterally decided to dissolve its governing body and reallocate assets. The members of Aragon DAO, a platform that allows developers to create and scale DAOs without coding, have decided to initiate legal proceedings against its founders. This action comes in response to the founders’ decision to disband the organization’s governing structure and reallocate the majority of its assets to its tokenholders, a move that was made without the consensus of the DAO community. The controversy began on Nov. 2 when the…

New Zealand dollar stablecoin goes live through local crypto exchange

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A New Zealand dollar-pegged stablecoin has gone live through a partnership with New Zealand crypto exchange Easy Crypto and Australian blockchain development firm Labrys. In a Nov. 22 announcement, Labrys and Easy Crypto said the NZDD will be backed 1:1 with cash in trust and regulated by the New Zealand Financial Markets Authority. It’s initially live on Ethereum but has plans to expand to Polygon, the BNB Smart Chain, Arbitrum, Optimism and Coinbase’s Base. Easy Crypto was motivated to launch the stablecoin as it claimed it was harder for New…

BNB Plummets 10% Amid Binance’s $4.3 Billion Settlement And CEO’s Impending Resignation

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Binance Coin (BNB), the native token of the Binance cryptocurrency exchange, has experienced a sharp decline of 10% following reports that Binance is preparing to settle criminal charges with the US Department of Justice (DOJ) through a $4.3 billion fine.  Binance CEO To Plead Guilty The Wall Street Journal has disclosed that Binance CEO Changpeng Zhao (CZ), commonly known as CZ, will plead guilty to violating criminal anti-money laundering requirements.  Concurrently, Binance will also plead guilty to a criminal charge related to anti-money laundering violations, resulting in a significant fine.…

Binance’s Busy Day, Kraken’s Second SEC Fight

Binance is paying one of the largest fines in corporate history to the U.S. Department of Justice, while its founder and CEO, Changpeng “CZ” Zhao, stepped down from his role running the platform as part of a settlement with multiple federal agencies. Meanwhile, Kraken is facing a lawsuit from the U.S. Securities and Exchange Commission that echoes the SEC’s previous wave of suits. Original Source Binance039sBusydayFightKraken039sSEC CryptoX Portal