Day: January 23, 2024

Crypto not the problem, bad actors are

Discord regarding Bitcoin and cryptocurrencies persists between U.S. lawmakers after a year of growth for global adoption and the coming of spot BTC ETFs. Senator Cynthia Lummis disagreed with her fellow Senator Elizabeth Warren following comments from the latter over illicit wealth funneled through cryptocurrencies by criminals worldwide.  Sen. Warren pointed to a single case of $900,000 laundered by the notorious Sinaloa Cartel using digital assets supported by blockchain technology. Warren cited the matter while arguing for stricter measures on crypto and virtual currencies due to the widespread illegal activities…

Coinbase faces headwinds as Bitcoin and ETF interest dips, says JPMorgan

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Coinbase may face challenges due to decreasing Bitcoin values and declining interest in Bitcoin ETFs, as per insights from JPMorgan Chase & Co. Coinbase’s shares plummeted by 6.2% on Tuesday, as the downturn followed JPMorgan’s decision to issue its first negative assessment equivalent to a “sell” rating on the company since it began tracking the stock in May 2021. Despite a significant upsurge of nearly 400% by the end of 2023, Coinbase’s shares have mirrored the trajectory of Bitcoin, which saw a remarkable increase in the same period. In 2024,…

This Massive $500 Billion Investment Could Send Price Above $50,000

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Previous speculation has resurfaced regarding one of the largest potential Bitcoin buy-ins in the history of cryptocurrency. According to crypto analyst Justin Verrengia, there are indications that Saudi Arabia and Qatar may be gearing up for an enormous Bitcoin purchase, with an official announcement anticipated in the coming week.  Saudi Arabia, Qatar Rumored To Purchase 1 Million BTC In a recent video published on X (formerly Twitter), Verrengia, the host of the popular crypto channel Crypto News Alert spoke on the recent rumors sparked by crypto analyst Mark Keiser regarding…

Colorado Pastor Defends Taking $1.3M From INDXcoin Crypto Sales

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Crypto Analyst Reveals Top Altcoins To Buy Amid Market Slump

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In a new video update, renowned crypto analyst Michael van der Poppe dissected the current dynamics of the crypto market, emphasizing the potential of select altcoins. VVan der Poppe’s analysis provides a strategic viewpoint for potential investors, focusing on the intricate relationship between Bitcoin’s (BTC) price movements and the broader altcoin market. Van der Poppe started by acknowledging the mixed performances among altcoins, with some consolidating, others correcting, and a few showing remarkable strength. The crux of his analysis hinges on the intricate relationship between Bitcoin’s market behavior and the…

ORDI down 14% after Bitcoin plunged under $40k

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Inspired by Casey Rodarmor’s Ordinals Protocol, the ORDI token dropped by over 14% on Jan. 23 to a new monthly low as Bitcoin backtracked to $39,000. Bitcoin-centric cryptocurrency ORDI fell below $55 for the first time since December last year, thanks to a broad market downturn seemingly caused by spot BTC ETF outflows.  Speculations suggest that ORDI’s nosedive is due to Bitcoin’s (BTC) price movement amid a sweeping dip in the cryptocurrency markets and daily outflows from Grayscale spot Bitcoin ETF, the biggest and most liquid BTC-focused fund approved for…

The Next Phase of DeFi Is Here

Another notable aspect of DeFi v1 was the dominance of complex protocols encompassing a broad range of functionalities, leading to questions about whether they should be referred to as financial primitives at all. After all, a primitive is an atomic functionality, and protocols like Aave include hundreds of risk parameters and enable very complex, monolithic functionalities. These large protocols often led to forking to enable similar functionalities in new ecosystems, resulting in an explosion of protocol forks across Aave, Compound, or Uniswap and various EVM ecosystems. Source

Whales Add 4,230 BTC, Signaling Potential Price Reversal

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In a surprising turn of events, the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) has not yielded the anticipated immediate upside impact on the Bitcoin price.  Contrary to expectations within the crypto community, BTC has experienced a sharp drop of over 16% since the ETF approval on Wednesday, January 11, dipping below the key $40,000 level. The failure of BTC bulls to hold the support level has led to a testing phase at the $38,000 level, accompanied by a 4.5% price drop within the past 24 hours. Bitfinex Whales Buck…

Retail investors worry bitcoin will plunge below $20,000, bank survey says

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Crypto skeptics aren’t changing their tune just because they can now buy bitcoin exposure through an exchange traded fund, according to a Deutsche Bank survey. Since the launch of the ETFs on Jan. 11, bitcoin has fallen about 20% to roughly $39,000, according to FactSet. So far, institutions have been slow to adopt the new funds in portfolios and retail investors aren’t entirely convinced they need to, London-based Deutsche Bank analyst Marion Laboure said in a note Tuesday. The bank polled 2,000 consumers across the U.S., U.K. and Europe after…

Dogecoin and Shiba Inu dropping, new meme coin defy bears

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The meme coin market has taken a drastic downturn as the broader crypto sector struggles this week. In the past seven days, market leaders Dogecoin (DOGE) and Shiba Inu (SHIB) are down 5.68% and 11.85%, respectively. However, speculators are optimistic about Sponge as its price remains up 8.05% this week and 192% this month. Market pullback impacts meme coins A broader market pullback following the spot Bitcoin ETF approvals…