Tag: Support

Legal scholars file amicus brief in support of Coinbase

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A group of six legal scholars specializing in securities law and related fields submitted an amicus brief in favor of crypto exchange Coinbase in its ongoing legal battle against the United States Securities and Exchange Commission (SEC). An amicus brief is a document filed in court by a party not directly involved with the related case. It is generally used to add supporting arguments to one side of the lawsuit and emphasizes how the case will have a broader impact beyond the involved parties. The group of legal scholars filed the amicus brief…

Senator Lummis shows support for Coinbase against SEC

Senator Cynthia Lummis of Wyoming filed a brief supporting Coinbase’s request to dismiss a case against it by the U.S. Securities and Exchange Commission (SEC). Lummis, a Republican, reiterated her support of the crypto industry by submitting an amicus brief in solidarity with Coinbase. 🇺🇸📝 Senator Cynthia Lummis backs Coinbase in its legal dispute with the SEC, filing an Amicus Brief, as reported by Cryptox. She asserts that the SEC’s actions are aimed at consolidating control within the industry, sidestepping ongoing cryptocurrency jurisdiction reviews… — BitcoinWorld (@ItsBitcoinWorld) August 12, 2023…

Cardano Tests Psychological Support – What’s The Next Move?

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Cardano (ADA) recently made waves as it brushed against the critical $0.30 resistance level. The significance of such resistance levels in the world of cryptocurrencies cannot be underestimated, as they often mark crucial junctures in the price trajectory of digital assets. Resistance levels serve as key markers on the price charts, indicating levels at which an asset faces heightened selling pressure. These levels are points where a substantial number of traders historically have chosen to sell their holdings, causing the price to temporarily stall or reverse its upward trajectory. Such…

Bitcoin Price Trims Gains But Resistance Turned Support Intact

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Bitcoin price started a downside correction from $30,200. BTC is now trading near the previous breakout resistance at $29,400. Bitcoin is correcting gains and trading below the $29,800 level. The price is trading above $29,400 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $29,840 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $29,400 support zone. Bitcoin Price Holds Support Bitcoin price started a…

Bitcoin, Ether Flat as PayPal USD Report Fails to Ignite Market; SHIB Finds Support

“PayPal USD (PYUSD), a U.S. dollar stablecoin issued in collaboration with Paxos Trust Co., is a significant development in the digital finance landscape,” said Jeff Mei, COO of crypto exchange BTSE, in a Telegram message. “Signifying the growing convergence between traditional financial systems and the world of crypto, this news is definitely bullish for the crypto market.” Source BitcoincryptoexchangeEtherExchangesFailsFindsFlatIgniteMarketPayPalReportSHIBSupportUSD CryptoX Portal

Singapore commits $112M to support fintech solutions like Web3

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The Monetary Authority of Singapore (MAS), the country’s central bank, has announced that it is committing up to 150 million Singapore dollars (around $112 million), to support various financial technology solutions like Web3.  In an announcement, MAS highlighted that the funds will be spent in three years under its renewed Financial Sector Technology and Innovation (FSTI) scheme. According to the announcement, the new scheme will aim to “accelerate and strengthen innovation” by supporting projects that use cutting-edge technologies.  The Monetary Authority of Singapore (MAS) will commit up to S$150 million over…

GameStop will stop support for its crypto wallets, citing ‘regulatory uncertainty’

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Gaming retail company GameStop has announced it will remove its digital wallets from the market starting in November, citing “regulatory uncertainty of the crypto space.” In a notice posted to its website, GameStop said iOS and Chrome Extension wallets will no longer be available starting on Nov. 1, advising users to ensure they have access to their secret passphrases by Oct. 1. The wallets, launched in May 2022, allow users to manage cryptocurrencies and nonfungible tokens, or NFTs. GameStop notice to users of its crypto wallets. Source: GameStop GameStop, once…

Bitcoin Drops Under $29,000, Here’s Where BTC Could Find Support Next

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Bitcoin has plunged below the $29,000 level during the past day. According to on-chain data, here’s the next level that could act as major support. Bitcoin Short-Term Holder Realized Price May Be The Next Support Level As pointed out by an analyst in a CryptoQuant post, the realized price of the short-term holders at $28,000 could be an essential level for the asset. The “realized price” here refers to the cost basis (that is, the buying price) of the average investor in the Bitcoin market. Whenever the price of the…

Dark Days Ahead As $29,200 Support Fails

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In his recent report, Charles Edward, a prominent crypto market analyst, released an update on the state of the Bitcoin (BTC) market. The report highlights the continuation of the downtrend for Bitcoin, which has been losing its key support, the 50-day Moving Average (MA).  The bearish trend has been confirmed by technical indicators and the pure fundamental Bitcoin Macro Index algorithm, which has seen an increasing rate of contraction over the last week. Is Bitcoin Headed For $25,000? The report provides insights into both high and low timeframe technicals, with…

Nearly 75% of the World’s Largest Banks Support the Transfer of Funds to Major Crypto Exchanges: CoinGecko

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An overwhelming majority of the world’s largest banks support the transfer of client funds to major crypto exchanges, according to a new study by digital asset data aggregator CoinGecko. The study examines how crypto-friendly the world’s largest 50 banks are based on two criteria: whether they offer crypto trading or on-ramping services within the bank’s native platforms, and whether they offer the ability to connect a bank account to a major crypto exchange, such as Coinbase, Binance or OKX. Says the report, “37 of the 50 (74%) biggest global banks…