Day: June 28, 2024

Europe’s MiCA Is Finally Here. How Will the U.S. Respond?

For the crypto industry and its existential coupling with the banking sector, MiCA marks profound change, which only the most serious players are ready for. For example, in the resurgent stablecoin category, in which the dollar is the currency of reference, MiCA marks a proverbial fiscal cliff where unregulated or non-compliant tokens will ultimately be delisted or their access greatly restricted by crypto exchanges. The reason is simple. Rather than treating stablecoins like a fringe financial product or merely a poker chip in a crypto casino, MiCA brings stablecoins in…

Bitcoin Awaits PCE Inflation Report

Solana’s SOL token has outperformed Ethereum’s ETH token this week after New York-based investment management firm VanEck filed an S-1 registration statement for its VanEck Solana Trust. “We believe the native token, SOL, functions similarly to other digital commodities such as bitcoin and ETH,” VanEck’s head of digital assets research, Matthew Sigel, wrote in a post on X arguing that SOL is a commodity, not a security. The consensus is that CME futures are a prerequisite for ETF approval, which SOL currently does not have. Meanwhile, ether futures have been…

Bitcoin-powered Core DAO debuts its own ETP on Swiss stock exchange

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DeFi Technologies’ subsidiary Valour has unveiled the first exchange-traded product for Core DAO, a Bitcoin scaling solution. Switzerland-based financial firm Valour has introduced its first exchange-traded product (ETP) for Core DAO (CORE), a Bitcoin-powered layer-1 solution integrating proof-of-work and delegated proof-of-stake consensus mechanisms. In a press release seen by crypto.news, the Core Foundation said the new product called “CORE ETP” will be available on the Spotlight Stock Exchange as part of the organization’s efforts to offer investors “a new way to get exposure to the Core blockchain network.” Rich Rines,…

Egyptian Fintech Startup Connect Money Secures $8 Million Seed Funding

Connect Money, an Egyptian fintech startup, recently secured $8 million in seed funding. The company plans to launch new business verticals using this investment. Connect Money aims to become the go-to platform for businesses seeking seamless banking services. Successful Capital Raise Demonstrates Investors’ Confidence in Connect Money Egyptian banking-as-a-service fintech startup Connect Money recently closed […] Source CryptoX Portal

Bitcoin Miner Selling Cools Off

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In an analysis provided by CryptoQuant, a significant change in Bitcoin miner behavior has been noted, potentially indicating a turning point. CryptoQuant analyst, known as Crypto Dan, outlined a reduction in miners’ selling pressure, which has historically been a pivotal factor affecting Bitcoin’s price trajectory. Bitcoin Mining Selling Pressure Decreases According to Crypto Dan, “Miners’ selling pressure decreases. One of the whales that have caused the cryptocurrency market to fall recently have been miners.” He explained that the BTC halving, which halved mining rewards, led to a decrease in the…

39% Chance of Dropping Out — Joe Biden’s Debate Stumbles Fuel Prediction Market Betting

Following the initial 2024 U.S. Presidential Debate, prediction market wagers on whether incumbent Joe Biden will withdraw have seen a significant increase in activity. The likelihood of Biden stepping down and being substituted has risen notably. Betting Markets React to Joe Biden’s Unintelligible Statements and Performance On Thursday, CNN broadcasted the 2024 U.S. Presidential Debate […] Source CryptoX Portal

Nubank Partners With Lightspark to Bring Lightning Network Access to Over 100 Million Customers in Latam

Nubank, Latam’s most valuable bank, has partnered with Lightspark, a cryptocurrency-focused financial services company, to bring its customers access to Lightning Network transactions. With this partnership, Nubank expects to lower costs and get more flexibility for users to take advantage of its trading platform, according to Thomaz Fortes, Executive Director for Nubank Crypto. Nubank to […] Source CryptoX Portal

WIF Heading For Rock Bottom? $2.2 Rejection Fuels Further Decline

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Dogwifhat (WIF) is experiencing increased bearish pressure after facing a significant rejection at the $2.13 resistance level. This rejection marks a pivotal moment, pushing the price downward and signaling potential continued losses for the cryptocurrency.  Market analysts and investors are closely watching this development, as the inability to break through the $2.13 barrier underscores prevailing selling pressure. As WIF navigates this challenging phase, the focus shifts to identifying the next support levels and understanding the broader market implications of this downward trend. The main objective of this study is to…

Kraken’s Powell donates $1m to Trump to unite behind ‘only pro-crypto’ candidate

The founder of crypto exchange Kraken says the Biden administration’s approach is “diminishing U.S. competitiveness” in the crypto market. Jesse Powell, the founder and former chief executive of crypto exchange Kraken, has donated $1 million in Ethereum (ETH) to former President Donald Trump as presidential elections approach. In a Jun. 28 post on X, Powell implied his decision was driven in response to a hawkish attitude against the industry from Dem. Elizabeth Warren, and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler. I just personally donated $1m (mostly #ETH)…