Day: January 18, 2024

Tennessee Senate proposes bill to exclude CBDCs from state’s definition of money

A Tennessee Senator has introduced a new bill that seeks to decouple CBDCs from the state’s definition of money. Tennessee’s Senate introduced a new bill authored by Senator Frank Niceley that proposes to redefine the term “money” within the state’s Uniform Commercial Code (UCC). The idea is to explicitly exclude central bank digital currencies (CBDCs) from the state’s definition of money. JUST IN: 🇺🇸 A bill was filed in the Tennessee Senate to expressly exclude CBDC from the definition of money in the state. pic.twitter.com/2VzdQjFDuz — Bitcoin Magazine (@BitcoinMagazine) January…

Gemini Receives Digital Asset Service Provider Registration In France

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Cryptocurrency exchange Gemini, founded by the Winklevoss twins, has been granted crypto registration by the French markets watchdog Autorite des marches financiers (AMF).  According to a recent announcement made by the exchange, this approval allows Gemini to offer its services as a virtual asset services provider in France. The company plans to roll out its products to both retail and institutional clients in the coming weeks. Gemini Seizes Growth Opportunities In Europe As announced, Gemini customers in France will gain access to a wide range of cryptocurrencies for trading, as…

Bitcoin Price Faces Uphill Task, Risk of Additional Losses Below $42K Looms

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Bitcoin price is still struggling below the $43,250 resistance zone. BTC remains at risk of more downsides if it stays below $43,500 for a long time. Bitcoin price is still trading in a range from the $41,500 zone. The price is trading below $43,250 and the 100 hourly Simple moving average. There was a break below a key rising channel with support near $42,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at risk of more downsides below the $41,500 support zone.…

EU Provisionally Agrees Tougher Crypto Due Diligence Measures to Combat Money Laundering

“This agreement is part and parcel of the EU’s new anti-money laundering system. It will improve the way national systems against money laundering and terrorist financing are organized and work together. This will ensure that fraudsters, organized crime and terrorists will have no space left for legitimizing their proceeds through the financial system,” Belgian Minister of Finance, Vincent Van Peteghem, said in a press statement. Source

Crypto Exchanges Trading Volume Hit $10.3T in 2023, New Data Shows

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CoinGecko’s 2023 Annual Crypto Industry Report has been released. It covers crypto exchanges and their current state, Bitcoin’s +155.2% and Ethereum’s +90.5% growth, analyzing NFT trading volume throughout the year, and more. Among the report’s highlights is the comprehensive review of the crypto trading volume in 2023 through the performance of centralized crypto exchanges (CEX) and decentralized exchanges (DEX). Centralized Crypto Exchanges Dominated Crypto saw a $36.6 trillion trading volume in 2023, with a volume increase of +53.1% from Q3 ($6.7 trillion) to Q4 ($10.3 T). The Q4 increase marked…

Biggest crypto market manipulations ever recorded

Explore the most significant proven market manipulations in crypto history to date. The crypto and defi space is full of innovation and opportunities but also of risks and challenges. One of the most serious problems plaguing the industry is market manipulation, which involves deliberately distorting prices and volumes. Market manipulation can take various forms and methods, such as wash trading, pump and dump, flash loan attacks, and rug pulls.  In this article, we will review some of the most notable cases in the crypto and defi space involving tokens such…

Over 2 Million Tokens Vanish, Valued At $636 Million

In a recent announcement by Binance, the BNB Foundation declared the successful completion of the 26th quarterly Binance Coin token burn through the BNB Chain. The burn, which included Auto-Burn and the Pioneer Burn Program, eliminated a significant amount of the exchange’s native token from circulation.  BEP95 Initiative Results In 210K BNB Permanently Burned During this latest burn event, the Auto-Burn process removed 2,141,487.27 BNB from circulation, equivalent to approximately $636 million in USD.  It is worth noting that the Auto-Burn mechanism operates independently of Binance’s centralized exchange (CEX), providing…

Bitcoin Fires Top Warning Signal, But Price Could Double First

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Bitcoin price reached highs of close to $50,000 a coin this year until an abrupt, 15% selloff stopped the climb and put the overheated crypto market on ice. The pullback has caused an early “top” warning signal to fire in BTCUSD, but data suggests that the top cryptocurrency could double before the actual top is in. Fishing For A Top Signal With the Fisher Transform Spot BTC ETF hype helped drive the price of Bitcoin from lows around $15,000 to over $45,000 per coin – a 300% increase. Peak post-ETF…