Day: November 27, 2023

Coinbase shares hit 18-month high after Binance charges

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Crypto exchange Coinbase (COIN) shares have hit an 18-month high after rival exchange Binance and its former CEO Changpeng Zhao pleaded guilty to money laundering and sanctions violations in the United States. On Nov. 27, Coinbase closed at $119.77, its highest since May 5, 2022, when it closed at $114.25, according to TradingView data. It has seen little movement in after-hours trading. The number puts Coinbase shares up around 256.5% year-to-date, although is still down 65% from its Nov. 12, 2021, all-time high of nearly $343. Coinbase share price since…

SEC still looking for potential FTX-style fraud at Binance.US: Report

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The United States Securities and Exchange Commission is still looking for evidence that Binance.US had a backdoor to potentially control customer assets in a similar style to FTX, according to a Nov. 27 report by the Wall Street Journal. In June, the SEC filed a lawsuit against Binance and Binance.US, alleging that the exchange was involved in the sale of unregistered securities and accused Binance and its founder of participating in a complex conspiracy that involved fraud, conflicts of interest, a lack of disclosure and willful disregard for the law.…

Analyst believes Bitcoin to go ‘parabolic’ soon

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In a recent YouTube video, George, the crypto analyst behind the CryptosRUs channel shared his bullish Bitcoin price predictions. He believes Bitcoin is poised to continue trending upwards based on improving fundamentals and favorable market conditions. Specifically, George cited an analysis from Standard Chartered Bank, which has over $500 billion in annual revenue. Their analysts predicted Bitcoin reaching $120,000 by 2024 for two key reasons — supply shocks from Bitcoin (BTC) miners holding more coins post-halving and increased demand from spot Bitcoin ETF approvals. It always comes down to supply…

Analyst sees resurgent promise in Terra Classic

A crypto analyst named Oscar Ramos posted a YouTube video on Nov. 27th expressing optimism about the near-term prospects of TerraUSD Classic and other coins linked to the struggling Terra ecosystem. In the analyst’s view, Terra Classic USD (USTC) significant price appreciation over the past day indicates renewed interest in the asset. As of press time USTC is trading at $0.033 after gaining 153% over the last seven days. I’m just so happy for this. Look at this. That is a price that it hasn’t been since the beginning of…

Analyst Identifies Pattern To Trigger Rally To ATH

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The Ethereum price has been trading more than 50% below its all-time high of $4,800 for the better part of a year now with no sign of returning to its previous all-time high. However, this slow trend may not continue for much longer as a crypto analyst has identified a pattern that could trigger a rally to its previous highs. Ethereum Stuck Inside A Bullish Triangle In an analysis that was posted on TradingView, crypto analyst FieryTrading identified a unique pattern that the Ethereum price has been trading in for…

Ethereum price falls as regulatory worries and pause in DApp use impact investor sentiment

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Ether (ETH) is struggling to maintain the $2,000 support as of Nov. 27, following its third unsuccessful attempt in 15 days to surpass the $2,100 mark. This downturn in Ether’s performance comes as the broader cryptocurrency market sentiment deteriorates, thus one needs to analyze whether  It’s possible that recent developments, such as the U.S. Department of Justice (DOJ) signaling potential severe repercussions for Binance founder Changpeng “CZ” Zhao, have contributed to the negative outlook. In a filing on Nov. 22 to a Seattle federal court, U.S. prosecutors sought a review…

Fraudsters Impersonate Forbes Journalists In Plot To Rob BAYC Holders

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In the non-fungible tokens (NFTs) sector, scammers are constantly devising new methods to exploit unsuspecting collectors. The latest incident involves fraudsters posing as journalists from Forbes magazine, specifically targeting Bored Ape Yacht Club (BAYC) NFT holders.  One BAYC owner, “Crumz,” recently shared his encounter with these scammers, detailing the elaborate scheme designed to steal his digital assets. BAYC Collector’s Close Encounter With Scammers According to Crumz, the scam began when he received a direct message on X (formerly Twitter) from someone claiming to be a Forbes editor named Robert Lafranco. …

Bitcoin traders’ bullish bias holds firm even as BTC price dips to $37K

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Bitcoin (BTC) briefly reached $38,000 on Nov. 24 but faced formidable resistance at the price level. On Nov. 27, Bitcoin price traded below $37,000, which is unchanged from a week ago.  What is eye-catching is the unwavering strength of BTC derivatives, which signals that bulls remain steadfast in their intentions. An intriguing development is unfolding in China as Tether (USDT) trades below its fair value in the local currency, the yuan. This discrepancy often arises due to differing expectations between professional traders engaged in derivatives and retail clients involved in…

Tornado Cash token falls 57% after Binance announces delisting

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The governance token for crypto mixer Tornado Cash (TORN) has fallen by over 50% on Nov. 26-27, according to data from Coingecko. The crash came on the same day that crypto exchange Binance announced it was delisting the token. Tornado Cash 24-hour chart. Source: Coingecko. Tornado Cash is a cryptocurrency mixing protocol. Its token, TORN, is used to vote on proposals for upgrading the protocol. On Nov. 26-27, the token took a nosedive, falling from $3.90 to just $1.66, a decline of 57%. The price decline happened as the world’s…