Day: November 24, 2023

House GOP whip Tom Emmer sees no need to rewrite laws for crypto following Binance’s settlement

The Minnesota Republican says current laws ‘are suitable to help weed out bad actors.’ Tom Emmer, the Minnesota Republican who has been crypto pro advocate for years, says there is no need for Capitol Hill to rewrite existing laws trying to clamp down on digital currencies as enforcement action is still enough to “weed out bad actors.” Congress does not need to rewrite laws that work in the crypto space. Yesterday’s successful prosecution shows that when enforced, current laws are suitable to help weed out bad actors. — Tom Emmer…

Singapore to restrict retail crypto speculation with new rules

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In response to the feedback received on its proposed Digital Payment Token (DPT) regulations, the Monetary Authority of Singapore (MAS) laid down measures for DPT service providers to discourage speculation in cryptocurrency investments. The de facto central bank of Singapore, MAS announced five ways DPT service providers can help retail clients avoid price speculation. DPT service providers must determine their customer’s risk awareness before offering crypto services. In addition, DPT service providers were advised against providing any incentives to trade in cryptocurrencies. Thirdly, DPT service providers cannot offer financing, margin or…

Wallet of Satoshi vanishes from Apple and Google’s US app stores

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Bitcoin (BTC) Lightning payments app Wallet of Satoshi (WoS) has disappeared from Apple’s App Store and Google’s Play Store in the United States as it closes in on over 1 million transactions for November. On Nov. 24, several users and crypto community participants shared on X (Twitter) their attempts to search for the WoS app, which turned up no results or redirected users to competing wallet apps. Wallet of Satoshi banned in the US? pic.twitter.com/S44qN5UI2U — ck (@ck_SNARKs) November 23, 2023 However, the WoS app still appeared for download on…

USDT reaches $85b market cap, is DAI better?

In crypto, stablecoins such as Tether (USDT) and DAI vie for dominance. Tether recently hit a noteworthy milestone with an $87.54 billion market cap. However, some argue that decentralized tokens like DAI offer superior features.  This article delves into the critical distinctions between them. Tether: overview and market performance Tether, the oldest and largest stablecoin, aims to provide crypto as reliable as traditional fiat currencies like the USD, leveraging blockchain technology.  Its stability is maintained by pegging each USDT token to $1, backed by Tether’s reserves. However, Tether faced a…

Crypto analyst remains bullish on Cardano despite recent SEC pressure

Analyst Crypto Capital Venture says he remains bullish on Cardano, despite recent regulatory lawsuits that named the asset. In a video posted to YouTube on Nov. 23, the analyst explained that the price of Cardano (ADA) has barely reacted to major legal actions from the Securities and Exchange Commission (SEC) against leading cryptocurrency exchanges Binance and Kraken. This Cardano chart is absolutely mind-boggling to me because the last 48 hours of crypto news headlines should have this chart absolutely capitulating, and that is not happening. Crypto Capital Venture The analyst…

UNI Price Prediction – After 25% Rally Uniswap Turned Attractive On Dips

UNI price rallied over 25% and climbed above $6.20. Uniswap is now consolidating gains and any dips might be attractive to the bulls in the near term. UNI started a fresh increase above the $5.20 and $6.00 resistance levels. The price is trading above $5.80 and the 100 simple moving average (4 hours). There was a break above a key declining channel with resistance near $5.25 on the 4-hour chart of the UNI/USD pair (data source from Kraken). The pair might correct lower, but the bulls could be active near…

Ethereum Price Forms Bullish Pattern, Why ETH Could Extend Its Rally

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Ethereum price surged above $2,050. ETH is now consolidating gains and might soon aim for another rally toward the $2,150 level. Ethereum is consolidating and facing resistance near the $2,080 zone. The price is trading above $2,030 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance near $2,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its rally if it clears the $2,080 and $2,090 resistance levels. Ethereum Price Holds Ground Ethereum price started a strong increase above…

Jim Cramer admits he was wrong about Bitcoin — ‘I was premature’

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Markets commentator Jim Cramer has tacitly admitted he was wrong about Bitcoin (BTC), saying he was premature in calling for investors to sell the cryptocurrency.  In a Nov. 22 segment of his CNBC Mad Money show, Cramer responded to a caller who inquired about buying shares in Bitcoin miner CleanSpark, saying that anyone who likes Bitcoin should increase their exposure to it. “Look, if you like Bitcoin, buy Bitcoin. That has always been my view. And for a while, I liked it, and I decided that money had been made,…

How XRP holders differ from BTC holders: analyst explains

In a YouTube video posted on Nov. 23rd, the analyst behind the popular Moon Lambo channel argued that there are key differences between the Bitcoin and XRP communities. The analyst pointed to a Twitter poll by MicroStrategy CEO Michael Saylor asking if respondents feel they hold enough Bitcoin (BTC). 85% answered no. Meanwhile, an XRP poll asking the same question found a more balanced 56% responding no. I just couldn’t help but laugh. When I came across the results of these two polls earlier today, I couldn’t help but laugh.…

Bitcoin Price Key Indicators Suggest Strong Case For Another Rally

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Bitcoin price is holding gains above $37,000. BTC is consolidating and might soon aim for another rally if it clears the $38,000 resistance zone. Bitcoin is still consolidating below the $37,750 resistance. The price is trading above $37,200 and the 100 hourly Simple moving average. There is a short-term contracting triangle forming with resistance near $37,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if it clears the $38,000 resistance zone. Bitcoin Price Remains Supported Bitcoin price remained well-bid…