Day: December 30, 2023

This Bitcoin Historical Pattern Could Send Price To $50,000 Before Major Correction: Analyst

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The pioneer cryptocurrency, Bitcoin, has struggled to hold above the $43,000 price mark over the past few weeks. The last seven days have not been much different for the cryptocurrency, which currently trades below $42,000. However, a popular crypto analyst on the X platform has come forward with an interesting trajectory for the price of BTC in the coming weeks. Based on his projection, investors could see the market leader trade above the psychological $50,000 level – but there is a caveat.  BTC Price To $50,000 – But What Happens…

India Cracks Down on Offshore Crypto Exchanges: A Level Playing Field at Last?

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The Indian government has issued show-cause notices to nine major offshore crypto exchanges, including Binance, KuCoin, and Kraken, and threatened to block their URLs. This action comes after months of domestic exchanges struggling against unfair competition from their unregulated counterparts, media reports said. The notices cite non-compliance with India’s Prevention of Money Laundering Act (PMLA) as the reason for the crackdown. These exchanges haven’t registered with the Financial Intelligence Unit (FIU) despite catering to a substantial number of Indian users. Local crypto industry bodies like the Bharat Web3 Association (BWA)…

LUNC Plunges 14% as SEC Scores Knockdown Vs. Terraform

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LUNC, the resilient token emerging from the tumultuous aftermath of Terra’s downfall, witnessed a notable 14% downturn, mirroring a substantial legal setback delivered by a U.S. District Court. This judicial decision favored the Securities and Exchange Commission (SEC) in their legal pursuit against Terraform Labs, the entity steering the Terra blockchain, injecting uncertainty into the fate of the beleaguered cryptocurrency. Harking back to the SEC’s assertions in February, the once-mighty stablecoin, LUNA, now lies at the heart of the controversy that unfolded in May 2022. The SEC contends that LUNA…

OKX to delist privacy tokens in January 2024

One of the largest cryptocurrency exchanges, OKX, announced delisting several trading pairs at once. According to the Dec. 29 announcement, OKX will delist stablecoin USD Coin (USDC), Tether (USDT), and Bitcoin (BTC) trading pairs with several prominent privacy-focused cryptocurrencies, including Monero (XMR) and Dash (DASH). The delisting will take place on Jan. 4 and 5, 2024. The exact reason for this decision is unknown. Platform representatives stated the following: “To maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing…

Coinbase Custody Head Departs As Crypto Giant Prepares For Bitcoin ETF Services

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According to Bloomberg, Coinbase Global has recently experienced a change in leadership within its custody division. The departure of Aaron Schnarch, former CEO of Coinbase Custody, has been confirmed by a spokesperson, who also revealed that Schnarch was replaced by Rick Schonberg in August. Per the report, the transition aligns with Coinbase’s efforts to offer services to applicants of spot Bitcoin (BTC) exchange-traded funds (ETFs). Coinbase Affirms Readiness For Bitcoin ETF Approval Rick Schonberg, who joined Coinbase in 2021, aims to provide experience to his new role, having previously worked…