Bank of America’s Active Crypto Users Drop More Than 50% in Bear Market – Featured Bitcoin News

Bank of America has revealed that the number of its customers who are active crypto users has declined more than 50% from its peak in November last year. In addition, the bank said its data “shows that outflows to crypto platforms have fallen sharply,” indicating that “consumers are pulling back on their net investment into crypto platforms.” Bank of America’s Active Crypto Users Bank of America published a report last week showing a steep decline in the number of active cryptocurrency users from its peak in November last year. The…

How Inaccurate Data Misled Investors to See Massive Outflows From This Crypto Exchange; BTC Holds Steady Over $20K

Yet, Nage also viewed positively bitcoin’s ability for much of the past month to remain in its current $18,000-$20,000 range. “Bitcoin has held steady around this trading pattern,” he said, adding: “We talk about digital assets as a durational effect in terms of things that are going to happen and change with society and our economic systems. Bitcoin is definitely a part of that.” Source

Demand for Hardware Crypto Wallets Increases Amid Currency Restrictions in Russia – Bitcoin News

Hardware wallets designed to securely store cryptocurrency have seen a several-fold increase this spring in Russia, on the backdrop of currency restrictions introduced amid foreign sanctions. Ledger and Tangem have been the most popular products on the market, a media report revealed. Russians Buy More Hardware Crypto Wallets, Market Players Say Russian crypto users have sought to purchase up to eight times more hardware wallets in March – April 2022 over previous periods, the daily Vedomosti reported, quoting representatives of the Tangem wallet developer, the retail chain M.video-Eldorado, and the…

Ethics Watchdog Bars US Government Employees From Writing Crypto Policy if Invested

A legal advisory notice issued by the U.S. Office of Government Ethics (OGE) on Tuesday declared that the de minimus exemption – which, when applied to a security, would allow the owner of an amount below a certain threshold to work on policy related to that security – doesn’t apply to any cryptocurrency or stablecoin, even if the cryptocurrencies in question “constitute securities for purposes of the Federal or state securities laws.” Source

Cumberland Says Financially Burdened Crypto Firms Are ‘Hanging Over the Market Like a Cloud’ – Bitcoin News

Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “​​rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over the market like a cloud.” OTC Firm Cumberland Says Markets Will Return to a Healthy State Once Distressed Assets Are Transferred From the Insolvent to the Solvent In mid-June, the cryptocurrency OTC trading desk Cumberland,…

Belgian regulator reviews crypto asset classifications while awaiting harmonization

The Financial Services and Markets Authority (FSMA), the Belgian regulator, is seeking comments on its communication on the classification of crypto assets as securities, investment instruments or financial instruments. Aimed at issuers, offerors and service providers, the agency’s communication will serve as guidance to the existing order until European regulatory harmonization is achieved.  The communication is meant to address frequently asked questions and is not exhaustive. It is accompanied by a stepwise chart to help its readers determine the classification of an asset. Crypto assets that are incorporated into an instrument,…

Is ETHEREUM To $10000 Still Possible ? ETH Price Prediction And Chart Analysis 2022

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts. Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering…

Underwater bitcoin miners are turning up the selling pressure on crypto

Bitcoin prices have fallen so low that the cryptocurrency’s miners have become sellers, further pressuring the already downcast market. Recent data shows an increase in the amount of bitcoin moved by miners from the mining pool to crypto exchanges in June, as the price of the cryptocurrency slid from $30,000 to $20,000, according to CryptoQuant. The event, known as “miner capitulation,” implies miners were preparing to sell their bitcoin – likely to cover mining expenses or to capture greater gains by selling at a price they consider to be overvalued.…