A popular crypto analyst warns that most traders would be better off staying on the sidelines instead of trying to play the volatile Bitcoin market. In a new tweet, the crypto strategist known as Kaleo tells his 322,600 followers to be patient as opposed to timing the choppy Bitcoin range between $30,000 and $40,000. ADVERTISEMENT …
Monthly archives: June 2021
Bitcoin price bounces to $33K but analysts say ‘it’s too early’ to call a bottom
Cryptocurrency investors found little reprieve on June 22 as the price of Bitcoin (BTC) fell below $30,000 for the first time since January, sparking panic among less experienced market participants who have yet to experience a full market cycle. While Bitcoin has been under increasing pressure from multiple sources since early May, the most recent …
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DeFi hacks on Binance Smart Chain continue as ‘Impossible Finance’ drained for $500k
Impossible Finance, a decentralized finance (DeFi) protocol on the Binance Smart Chain has been exploited for $500,000 in a flash loan attack. A flash loan attack is a common type of DeFi exploits in which hackers take an uncollateralized loan from a lending protocol and through a series of technical maneuvers manipulate the market in …
VanEck files Bitcoin ‘mutual fund’ with SEC even as ‘whales’ sell BTC en masse
Exchange-traded funds (ETFs) and mutual fund provider VanEck has filed for a new Bitcoin fund in the US, a filing with the Securities and Exchange Commission (SEC) shows. Routed via Cayman Islands Called the new “Bitcoin Strategy Fund,” the instrument will invest in Bitcoin “futures” and other publicly traded financial products that provide exposure to …
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Vaneck Files Prospectus With US Regulator to Launch a Bitcoin Mutual Fund
On June 21, the wealth manager Vaneck filed a prospectus to launch what it calls a Bitcoin Strategy Fund. The prospectus filed with the U.S. Securities and Exchange Commission (SEC) explains the fund will procure bitcoin exchange-traded products and futures. Vaneck’s Fund Will Invest in Bitcoin Futures and Pooled Investments Tied to the Leading Crypto …
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Salvadoran Representative Introduces Lawsuit Against the Bitcoin Tender Law for Being Unconstitutional
Jaime Guevara, a Salvadoran representative, presented a lawsuit against the recently approved bitcoin tender law today. Guevara alleges the law is unconstitutional and brings a series of changes that will cause problems for Salvadorans. Some people suspect Bukele’s regime is behind the representative’s demand due to its inability to applying this novel law. Salvadoran Representative …
Privacy Is Key for Successful Digital Euro, Data Protection Body Says
The European Data Protection Board (EDPB) has issued a call for EU institutions to uphold privacy when designing a digital version of the euro. The agency is ready to provide advice on data protection matters surrounding the project. Meanwhile, an ECB executive has vowed that the digital euro will protect users’ privacy. EDPB Insists Data …
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As China Cracks Down on Bitcoin Miners, Stealth Miners and Mystery Hashrate Return
While on the surface it seems officials from five provinces in China have been cracking down on bitcoin miners, no one is quite sure how much hashrate is moving, which pools are affected, or where these miners will end up. A number of mining pools have seen hashpower percentages decline and Bitcoin’s overall hashrate has …
Digital Euro Promises To Protect People’s Privacy, According to ECB Board Member
European Central Bank (ECB) executive board member Fabio Panetta promises that the digital euro will respect the privacy of consumers. In a Financial Times report, Panetta says the digital version of the euro will offer more privacy to users compared to stablecoins issued by private companies. ADVERTISEMENT He highlights that the ECB is not …
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Top Chinese Bank Bans Access to Crypto, Issues Stern Warning To Rule Breakers
China’s third-largest bank, the Agricultural Bank of China, has announced it is cracking down on cryptocurrency transactions. Agricultural Bank of China (AgBank) is the country’s third-largest lender by assets, currently overseeing more than $4.20 trillion. The banking giant issued a statement prohibiting the use of its services for virtual currency transactions such as Bitcoin, following …
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Institutional exchange launches crypto debit card
Intercontinental Exchange subsidiary Bakkt has introduced a debit card allowing customers to use crypto for retail purchases. In a Tuesday announcement, Bakkt said it had launched a fully virtual Visa debit card for both online and in-store spending. Card holders can spend Bitcoin (BTC) from their Bakkt accounts without waiting to convert the cryptocurrency to …
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Bad call? Bitfinex bears closed a block of Bitcoin shorts before the drop below $32K
Bitcoin price is still in a rut, trading near $33,000 and trapped in a downtrend that just seems to get worse with the passing of each day. As the price slumps, analysts have consulted with several technical and on-chain metrics to explain the price collapse, but none of these have picked up on the exact …
ICO issuer charged with fraud by SEC for selling unregistered security
The United States Securities and Exchange Commission, or SEC, has charged a cryptocurrency issuer for “making materially false and misleading statements” in connection with an unregistered security offering conducted between August 2017 and January 2018, offering further evidence that regulators were still targeting initial coin offerings from the last major market mania. Loci Inc., the …
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MicroStrategy stock tanks with Bitcoin as S&P 500, Nasdaq rally
Shares of MicroStrategy (MSTR) plunged anew on Tuesday, extending an early week slump on the back of a highly volatile cryptocurrency market that saw Bitcoin (BTC) briefly pierce below $30,000. MSTR touched an intraday low of $513.02 through the early morning session, capping off a 12% decline. Shares of the business intelligence firm collapsed 16.7% …
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Ethernity Chain (ERN) Goes Live on Binance’s Innovation Zone
June 22, 2021 – George Town, Cayman Islands Ethernity Chain (ERN) is coming to Binance’s Innovation Zone and will receive three trading pairs later today. The popular community-oriented platform, with a strong focus on authenticated and limited edition NFTs, has received a lot of attention lately. This token listing further enhances the appeal of what …
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