Day: December 23, 2023

SEC commissioner disagrees with agency’s BarnBridge DAO fine

Hester Peirce, a commissioner with U.S. Securities and Exchange Commission (SEC), clapped back at her colleagues for imposing a $1.7 million fine on defi protocol BarnBridge DAO. Although I did not write a dissent (yet?), I voted against the action. It’s another example of the SEC’s imprecise legal reasoning in crypto cases, which only adds to the uncertainty for crypto projects in the US. — Hester Peirce (@HesterPeirce) December 23, 2023 BarnBridge DAO, along with its two founders — Tyler Ward and Troy Murray — agreed to settle charges that…

Arthur Hayes Reveals What Will Make The Pioneer Crypto Fail

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The former CEO and co-founder of crypto exchange BitMEX, Arthur Hayes, has shared his thoughts on what could lead to Bitcoin’s downfall. His recent comment also echoes the reservation that the crypto founder has about the potential launch of Spot Bitcoin ETFs. TradFi Could Lead To Bitcoin’s Downfall In his last article for the year, Hayes stated that TradFi asset managers would “completely destroy Bitcoin” if the ETFs managed by them were a huge success. He made this assertion as he alluded to Bitcoin’s uniqueness. Hayes mentioned that the foremost…

BitMEX founder has a dire warning about spot ETF approval

Arthur Hayes, co-founder of the BitMEX crypto exchange, is sounding the alarm regarding what he sees as possible dire outcomes of the pending regulatory approval of the spot Bitcoin exchange-traded fund (ETF). The concern lies in traditional finance asset managers, such as BlackRock, potentially undermining Bitcoin (BTC) by dominating the spot Bitcoin ETF market. In a blog post on Dec. 22, Hayes highlighted the risk of such firms holding “all the Bitcoin in circulation.” If that happens, he says, an over-successful ETF managed by traditional asset managers could ultimately lead…

Bitcoin Whales Sell 50,000 BTC Worth $2.2 Billion, Is The Rally Over?

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The flagship cryptocurrency, Bitcoin, seems to be cooling off following months of experiencing a resurgence on the back of the Spot Bitcoin ETF potential approval rumors. This has led to concerns that the rally might be over, a theory that is boosted by the recent action of the largest holders of the crypto token. Bitcoin Whales Offload Some BTC Holdings In a post on his X (formerly Twitter) platform, crypto analyst Ali Martinez highlighted a report from the market intelligence platform Santiment, which showed that Bitcoin whales had sold around…

Solana breaks $90, flips BNB as new altcoin posts gains

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As altcoins rally, Solana (SOL) is proving to be a tough Ethereum (ETH) competitor after flipping BNB to fourth. Solana flips BNB, next Ethereum? SOL has seen a strong month, bouncing off $54.17 on Nov. 28 to reach $99.12 by Dec. 22. Currently at $91.6, its $38.9 billion market cap places the token at fifth, just below BNB. SOL flipped BNB on Dec. 22 – with SOL reaching $41.9…

$10 Million Worth Of Dogecoin Exit Robinhood

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On-chain data has revealed more than 112 million Dogecoin tokens recently made their way out of Robinhood into an unknown wallet. DOGE transfers into crypto exchanges have seen an uptick in the past few days, as the crypto continues to struggle to keep up pace compared to other top cryptocurrencies. However, according to Whale Alerts, 112 million DOGE which was valued at roughly $10.4 million at the time of the transfer, was sent from Robinhood into a private wallet. Massive Dogecoin Transfer Out Of Robinhood According to Whale Alerts, the…

Bitcoin could still drop to $37k, analyst says: Here’s why

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The Bitcoin (BTC) price could potentially dip to the $37,000 region if the orange coin fails to hold its $43k critical support level, according to a fresh analysis shared by crypto analyst Ali Charts, as key indicators suggest that Bitcoin’s fate still hangs in the balance. Key insights Crypto analyst, who goes by @ali_charts on social media, warns of a potential Bitcoin correction, linking it directly to a sustained close below $43,200. This crucial level acts as a litmus test for the market, indicating a bearish turn if breached. But…

Optimism holds strong, price spikes more than 50% this week

Optimism (OP) witnessed a 10% price increase and an over 50% rise on the daily and weekly timeframes, respectively. The spike is underscored by growth in user activity, plus strategic collaborations with Lisk and Gelato, as well as a solid position as the second-largest Ethereum layer-2 network.  According to recent data compiled by IntoTheBlock, the Optimism L2 blockchain now boasts over 5.9 million addresses with a balance — a substantial 391% increase from January’s 1.2 million. This growth reflects a growing interest in Optimism’s decentralized ecosystem, driven by the Optimism…

ALGO Blows Up To 42-Week High, Delighting Algorand Fans

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Known for being a blockchain technology pioneer, Algorand (ALGO) has seen ups and downs in the cryptocurrency market. Over the past week, there has been a notable 20% surge in the value of the Algorand token, which also translates to a 42-week peak. According to data from Coingecko, ALGO was trading at $0.232 at the time of writing, with a significant 24-hour trading volume of $370 million. Algorand’s Rise: Blockchain Advancements And Market Surge The Algorand network, also referred to as “blockchain3.0,” prioritizes security and decentralization while addressing significant scaling…