Tag: Support

EU parliament votes overwhelmingly in support of DAC8 crypto tax reporting rule

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Lawmakers in the European Union parliament voted overwhelmingly in support of the eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, in a plenary session on Sep. 13.  Held in Strasbourg, France, the session reportedly saw DAC8 receive overwhelming support in the form of 535 member votes for and just 57 against. The measure received 60 abstentions as well. Heads up: The European Parliament plenary adoption of the #DAC8 is happening today As a reminder: DAC8 is an instrumental legislation designed to further harmonise the…

Coinbase’s (COIN) Brian Armstrong Confirms Crypto Exchange Will Support Lightning, Which Speeds Up Bitcoin (BTC) Payments

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“Bitcoin is the world’s digital monetary system, and Lightning is Bitcoin’s payments layer,” Cathie Wood, the head of Coinbase’s second-biggest shareholder, ARK Invest, wrote on X in response to Armstrong’s post Wednesday. “Coinbase’s integration with Lightning will give its 100 million users an on-ramp to faster and cheaper bitcoin transactions. Hats off to Coinbase!” Source

Google launches Digital Futures Project with $20M in grants to support ‘responsible AI’

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Google and its charitable arm, Google.org, launched the Digital Futures Project, an initiative to study responsible artificial intelligence (AI) technologies, on Sept. 11.  The Mountain View company will invest a total of $20 million in grants to leading think tanks and academic institutions around the world with the expressed aim “to facilitate dialogue and inquiry” into AI technologies. According to a blog post, Google wishes to address issues of fairness, bias, misinformation, security and the future of work through deep collaboration with outside organizations and a commitment to facilitating responsible…

G20 leaders support FSB recommendations on crypto regulation

The leaders of the G20 nations have thrown their weight behind the Financial Stability Board’s (FSB) recommendations regarding the regulation of crypto. In a landmark move, the G2O intergovernmental forum, on Sept. 9, voiced its support for a slew of recommendations prepared by the FSB to regulate and oversee the global crypto industry. The announcement, made by Indian Finance Minister Nirmala Sitharaman, came at the New Delhi Leaders’ Meeting, where G20 members expressed their intent to monitor the fast-paced changes in the digital finance space. 🚨 BREAKING: 🇮🇳 India’s Finance…

NFT restaurant crumbles, Binance NFT ends Polygon support and more

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Bold plans for a nonfungible token (NFT)-based restaurant and private members lounge in San Francisco have ended abruptly after the company behind the project halted construction due to challenging macroeconomic factors. The two venues were being built on Salesforce Park and were going to be dubbed the “Sho Restaurant” and “Sho Club Sky Lounge.” The latter would only be accessible to holders of the Sho Club NFTs, which cost anywhere from $7,500 to $300,000, and offered access to other future Sho Group hospitality offerings. Speaking with San Francisco-focused news website…

XRP Bottom Support Holds Strong: A Healthy Sign For The Crypto’s Price?

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XRP has once again found itself in a state of relative stability. Despite minimal gains, the crypto is holding firm at $0.5, showcasing a remarkable resilience over the past 24 hours. However, the intriguing aspect of this scenario lies in the technical analysis and upcoming developments that may hold the key to XRP’s future trajectory. Recent price analysis reveals that XRP is currently being held in check by the 50-day Exponential Moving Average (EMA), capping its price at $0.5027. Furthermore, another significant seller congestion point looms at $0.505.  This data…

Kraken expands offerings in crypto derivatives, adds PayPal support in Europe and UK

Kraken, a crypto exchange, is making strategic moves to broaden its offerings in trading and payment. After FTX’s downfall last November, Kraken’s subsidiary Crypto Facilities aims to target the lucrative derivatives sector, which had $1.85 trillion in trading volume across centralized exchanges last month alone. Concurrently, Kraken is also widening its payment methods, introducing PayPal deposits for its UK and European customers. Crypto Facilities, acquired by Kraken in 2019, is presently in talks with the UK’s Financial Conduct Authority (FCA) for permission to expand its custodial services, Bloomberg reported on…

Ethereum Price Could See Lift-off Unless This Support Gives Way

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Ethereum price is eyeing an upside break above $1,650 against the US Dollar. ETH must stay above $1,600 to start a fresh increase in the near term. Ethereum is slowly moving higher from the $1,620 support zone. The price is trading above $1,632 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support near $1,622 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if there is a close above the $1,650 resistance. Ethereum Price Eyes…

Bitcoin MVRV At Critical Support Line, Will Retest Be Successful?

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On-chain data shows the Bitcoin Market Value to Realized Value (MVRV) ratio is nearing a retest that could be crucial for the asset. Bitcoin MVRV Ratio Is Nearing In On The 1.2 Level As an analyst in a CryptoQuant Quicktake post explained, the 1.2 level of the MVRV ratio has historically been a support line for the cryptocurrency. The “MVRV ratio” is an indicator that measures the ratio between the Bitcoin market cap and the realized cap. The “realized cap” here refers to a capitalization model for BTC that assumes…

Ether price risks losing the $1.6K support as multiple ETH price metrics decline

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Ether’s price surged by 31.3% from March 10 to March 18, coinciding with the Federal Reserve’s injection of $300 billion to address the insolvency of Silicon Valley Bank. Since then, Ether’s (ETH) price has consistently maintained a daily closing price above $1,600.  However, investors are now casting doubt on Ether’s ability to sustain this support level, given the prevailing bearish sentiment in the cryptocurrency space and declining metrics on the Ethereum network. Over the past six months, the cryptocurrency sector has been plagued by negative developments. Notably, the Digital Currency Group (DCG), the…