Day: May 19, 2024

Donald Trump Viewed as ‘America’s First Crypto President’ by Former CFTC Chairman

Former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo has emphasized former U.S. President Donald Trump’s critical role in the cryptocurrency industry, dubbing him “America’s first crypto president” due to the approval of bitcoin futures during his administration. Trump’s crypto stance has evolved significantly since he was in office. ‘Trump May Justifiably Claim to Be […] Source CryptoX Portal

US Congress Passes First Standalone Crypto Legislation

The U.S. Congress has passed its first standalone crypto legislation, which aims to overturn the controversial U.S. Securities and Exchange Commission (SEC)’s SAB 121 rules regarding crypto assets. However, President Joe Biden has threatened to veto this decision, citing concerns about financial stability and market uncertainty. ‘We Are Just Getting Started’ In a historic move, […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over 11,000 Miners to Face the Nation’s Energy Crisis

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The Venezuelan National Power Ministry announced a special operation to disconnect all bitcoin mining farms from the grid. Authorities have seized over 11,000 bitcoin miners as the government seeks to reduce the power usage from high-power customers siphoning energy from the national electric system. Venezuelan Authorities Seize and Disconnect Over 11,000 Bitcoin Miners Amidst Energy […] Original

Venezuela cuts off crypto mining to tackle energy crisis

Venezuela becomes the latest nation to put a ban on crypto mining firms, citing heavy energy consumption. According to local news outlet AlbertoNews, Venezuela’s Ministry of Electric Power plans to cut off crypto-mining companies drawing power from the national power grid SEN (Sistema Electrico Nacional).  The Venezuelan government plans to control excess energy consumption through the latest move while ensuring a consistent power supply for the local population. Venezuela’s National Association of Cryptocurrencies also confirmed the latest ban on the crypto mining industry in a May 18 X post. The move follows the recent…

Solana Blasts Past Resistance: Buckle Up for $330

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Solana (SOL) is riding a wave of investor confidence, with its price steadily climbing towards uncharted territory. This bullish trend has analysts scrambling for their charts and telescopes, predicting a potential price explosion that could propel SOL to its all-time high (ATH) and beyond. However, amidst the excitement, some experts urge caution, reminding investors that cryptocurrency seas can be treacherous. Related Reading Solana Sets Sail For Higher Ground The past week has been a banner one for Solana. The price has surged nearly 20%, surpassing a key resistance level at…

Top cryptocurrencies to watch this week: SOL, BONK, FTM

Top cryptocurrencies demonstrated a robust recovery last week. The global market cap surged by 7% to reach $2.41 trillion. This increase reflected a $160 billion gain in valuation, driven by significant rises in most of the leading cryptocurrencies.  Here are our picks for the top cryptocurrencies to watch this week:  SOL, BONK and FMT prices – May 19 | Source: Santiment SOL retests 1-month high Solana (SOL) emerged as one of the top cryptocurrencies last week, despite experiencing range-bound movements initially. It began the week below the critical $150 threshold…

10 US Spot Bitcoin ETFs Absorbed 548,556 BTC Worth $36 Billion in 128 Days

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According to recent data, the ten spot bitcoin exchange-traded funds (ETFs), excluding Grayscale’s Bitcoin Trust (GBTC), acquired 548,556.62 BTC from the market over the last 128 days. This acquisition means the ten newly introduced spot bitcoin ETFs collectively hold 2.78% of the crypto asset’s current circulating supply. Besides Grayscale’s Pre-Existing Fund, Blackrock’s IBIT Leads New […] Original

Price Explodes Past $67,000 As Investor Confidence Returns

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The cryptocurrency market has been shaken by turbulence over the past year, but Bitcoin is now staging a remarkable comeback, breaking past the $67,000 mark for the first time since late 2023. This unexpected surge has electrified the Bitcoin community, sparking widespread optimism and a sense of renewed hope among investors. Related Reading Confidence In Bitcoin High The collective mood of the Bitcoin community, as measured by Santiment’s “Weighted Sentiment” metric, has reached its most bullish level since the SEC’s landmark approval of Bitcoin spot ETFs in late 2023. That…