Day: December 13, 2023

Cantor Fitzgerald CEO praises Tether and Bitcoin

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Howard Lutnick, the CEO of Wall Street firm Cantor Fitzgerald has praised stablecoin issuer Tether (USDT), describing himself as a “big fan” of the firm. “I’m a big fan of this stablecoin called Tether…I hold their treasuries. So I keep their treasuries, and they have a lot of treasuries,” Lutnick said in a Dec. 11 interview with CNBC. “They’re over $90 billion now, so I’m a big fan of Tether,” the Cantor Fitzgerald CEO said. Notably, Cantor Fitzgerald has been helping manage Tether’s multi-billion dollar Treasury portfolio for several years,…

Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

Ethereum price is moving lower below the $2,250 support zone. ETH is now at risk of more downsides below the $2,120 support zone. Ethereum struggled to start a fresh increase above the $2,250 resistance. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There is a key declining channel forming with resistance near $2,225 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it declines below the $2,120 support zone. Ethereum Price Takes Hit Ethereum price attempted a…

Is Trader Joe (JOE) A Hidden Gem Poised to Outperform Uniswap (UNI)?

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In decentralized finance (DeFi) and trading, Uniswap has long reigned as a dominant force. However, a recent analysis by Lark Davis, a Bitcoin (BTC) investor, seems to suggest Trader Joe, a decentralized exchange (DEX) on Avalanche–a highly scalable blockchain and Ethereum’s competitor, could eventually emerge as a formidable competitor, even overtaking Uniswap. Is Trader Joe Undervalued Relative To Uniswap? In a post on X on December 12, Davis noted a discrepancy in the relative valuation between JOE and UNI, which serve as governance tokens of Uniswap and Trader Joe. Specifically, the…

El Salvador expects to sell out Bitcoin ‘Freedom Visa’ by end of year

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El Salvador’s National Bitcoin Office says its $1 million Freedom Visa program has already received hundreds of inquiries since its launch on Dec. 7, and expects it to fully sell out be In emailed comments to Cointelegraph, a spokesperson for El Salvdor’s National Bitcoin Office (ONBTC) said that it had received hundreds of inquiries and “many dozens of applications” both online and in person at its embassies and consulates. “Based on the current level of interest, we expect the program to sell out by the end of the year.” Launched…

Analyst’s Weekly Altcoins Watchlist Unveiled

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Cryptocurrency analyst Miles Deutscher has provided insights into potential altcoin opportunities as the crypto market experiences a sharp correction and many altcoins consolidate after recent gains. Deutscher’s analysis focuses on several altcoins that he believes could be poised for significant upside movement. BTC, AVAX, And INJ Stand Out Amid Market Correction Bitcoin (BTC), although not an altcoin but the largest cryptocurrency on the market, is one of the coins Deutscher mentions, noting that it is currently retesting the break of an ascending channel on the daily chart.  Deutscher suggests that…

SEC serves suit to evasive Richard Heart in Finland, but not in person

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The United States Securities and Exchange Commission said it served its lawsuit to HEX founder Richard Schueler — aka Richard Heart — at his house in Finland’s capital of Helsinki. In a Dec. 11 New York District Court filing, the SEC said it served Heart through substitute service on Oct. 31 — an alternative for when a suit can’t be personally delivered to the defendant typically due to difficulties in locating them. The process server said they made several failed attempts over nearly seven weeks starting Sept. 13 to personally…

Analyst Reveals The Price BTC Won’t Drop Below

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The crypto market, especially Bitcoin (BTC), has recently declined. Amid these fluctuations, the flagship cryptocurrency has been intensely scrutinized. Despite its decline from the recent peak of $44,000, a crypto analyst urged the community not to “succumb to panic.” The current market situation reflects a typical correction phase rather than a long-term bearish trend. According to Ali Charts, a prominent crypto analyst, Bitcoin has established a “robust” support zone between $37,150 and $38,360. This critical range is bolstered by the activity of approximately 1.52 million addresses that collectively purchased roughly…

FTX And IRS Lock Horns Over $24 Billion Tax Bill, FTT’s Key Support Wavers

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In a striking turn of events, the Internal Revenue Service (IRS) in the United States has presented a staggering tax bill of $24 billion against the bankrupt cryptocurrency exchange FTX.  FTX Challenges IRS’s $24 Billion Tax Bill According to court filings and FTX’s response to the IRS’s claims, several key arguments challenge the basis of the tax bill. Firstly, FTX highlights that its operations spanned three years, never distributing dividends or earnings.  Secondly, the exchange’s defense attorneys claim that the company incurred substantial losses rather than generating income that could…

BlackRock revises spot Bitcoin ETF to enable easier access for banks

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BlackRock has revised its spot Bitcoin (BTC) exchange-traded fund (ETF) application to make it easier for Wall Street banks to participate by creating new shares in the fund with cash, rather than just crypto. The new in-kind redemption “prepay” model, will allow banking giants such as JPMorgan or Goldman Sachs to act as authorized participants for the fund — allowing them to circumvent restrictions that prevent them from holding Bitcoin or crypto directly on their balance sheets. The new model was presented by six members of BlackRock and three from…