Day: March 20, 2024

Bitcoin (BTC) Prices Register Biggest Single-Day Loss Since FTX’s Collapse

The leading cryptocurrency by market value fell over 8% to under $62,000, data from charting platform TradingView show. That’s the biggest single-day percentage (UTC) decline since Nov. 9, 2022. That day, prices tanked over 14% as Sam Bankman Fried’s FTX exchange, formerly the third largest, went bankrupt. The daily performance mentioned here represents the percentage gain or loss in a day, beginning at midnight UTC and concluding at 23:59:59, UTC. Source BitcoincryptoexchangeExchanges CryptoX Portal

BNB Price Could Restart Rally If It Is Able To Hold This Key Support

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BNB price rallied further above $600 before it faced sellers. The price corrected gains and now testing an important support at $500. BNB price started a downside correction from the $645 resistance zone. The price is now trading near $515 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $520 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could attempt a fresh increase if it stays above the $500 support zone. BNB Price Holds…

Goldman Sachs Sees More Institutions Diving Into Crypto — Says Bitcoin ETFs Prompt a ‘Psychological Shift’

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Goldman Sachs is seeing more institutions diving into crypto, the global investment bank’s head of digital assets has revealed, noting that until now the bitcoin price action has been driven primarily by retail investors. “But it’s the institutions that we’ve started to see come in,” he stressed, adding that the appetite has “transformed.” Bitcoin ETFs […] Original

Does Sam Bankman-Fried Deserve 50 Years in Prison?

The stage is set for a federal judge to determine how long Sam Bankman-Fried may spend in prison. The U.S. Department of Justice and defense attorneys have now both filed their arguments, as well as statements from FTX creditors (from the prosecution) and Bankman-Fried’s family and friends (from the defense). Source

Crypto Fan Won Ohio Senate Primary That Could Alter the Industry’s U.S. Destiny

If Brown loses, it not only changes the leadership of the committee, but it may also change the party with majority status in the Senate. In this session, the Senate has teetered at a 50-50 split that’s broken to the Democrats’ benefit by the vice president. It only takes one seat to shift and grant Republicans the majority, which would also give the party control of all the chairs (and the agendas) of the committees that would need to pass crypto bills. Source

Ether.fi (ETHFI) Sell-Off Intensifies As Arrington XRP Capital Shifts Holdings To Binance, Will $3 Support Hold?

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ETHFI, the governance token for the Ether.fi staking protocol has seen a significant drop in price since its debut on Binance on Monday, March 18. After initially trading at $4.13, the token has lost over 25% of its value, raising concerns among investors.  Nonetheless, recent on-chain activity has fueled speculation of further sell-offs, potentially threatening the token’s stability and its ability to hold the $3 mark. In particular, blockchain analytics firm Nansen has identified interesting behavior involving Arrington XRP Capital on the Ether.fi platform, highlighting some significant transactions. Price Concerns…

BlackRock Creates Fund With Securitize, a Player in RWA Tokenization; ONDO Jumps 20%

The filing does not reveal what assets the fund will hold, but Securitize’s presence potentially suggests the product has something to do with the tokenization of real-world assets, or RWA – industry jargon for representing ownership of a wide range of assets through a token on a blockchain. After BlackRock’s filing came out, Ondo Finance’s native token ONDO jumped as much as 20%, and is up 12% over the past 24 hours outperforming the broad-market CryptoX 20 Index (CD20) and bitcoin (BTC). Ondo runs a RWA platform. Source CryptoX Portal

DOJ’s Proposed 50-Year Sentence for Sam Bankman-Fried ‘Disturbing,’ FTX Founder’s Lawyers Say

“At age 32, the government wants to break Sam Bankman-Fried. They ignore completely his condition and vulnerabilities. Instead, they urge, menacingly, that the sentence imposed must ‘disable’ him even from ‘being in a position’ where he theoretically ‘could’ perpetrate a fraud,” the filing said. “That is a horrifying interpretation of specific deterrence.” Source

Salvadoran Press Raises Doubts on Piggy Bank Funds’ Ownership: 80% of BTC Came From Bitfinex

Reports from local Salvadoran press are raising questions about President Bukele’s announcement last week, when he transferred 5,690 BTC to a cold wallet, stating that all of these belonged to the country. Moises Alvarado, a Salvadoran journalist, found that 80% of the funds in this wallet came from Bitfinex, an international exchange, while 20% came […] Source BitcoincryptoexchangeExchanges CryptoX Portal