SEC Commissioner Mark Uyeda wants to update the agency’s S-1 disclosure for cryptocurrency firms. His stance is a positive step toward progress.
Monthly archives: September 2024
Ethereum’s value accretion narrative under duress after 19% drop in ETH DApp volumes
ETH price struggles to find reasons to rally after the network’s DApp volumes drop and Ether languishes near the $2,250 support.
‘It’s Almost Over’ – Analyst Benjamin Cowen Predicts Ethereum Bottoming Out Against Bitcoin
Popular crypto analyst Benjamin Cowen thinks Ethereum (ETH) is close to bottoming out against Bitcoin (BTC). Cowen tells his 856,500 followers on the social media platform X that he thinks the ETH/BTC ratio will bottom out between 0.03-0.04 BTC and then trend up next year. “It could bottom as early as this week or as …
Ethereum in ‘Doldrums’ As Bitcoin and Solana Outperform ETH, Says Bitwise CIO Matt Hougan – Here’s Why
The chief investment officer of crypto asset management firm Bitwise says that Ethereum (ETH) appears to be in a period of stagnation after being outpaced by both Bitcoin (BTC) and Solana (SOL). In a new blog post, Bitwise executive Matt Hougan says that Ethereum is experiencing doldrums due to competitors with superior technology, the risks …
Bitcoin Taps $61,000 As Federal Reserve Slashes Interest Rates for First Time in Four Years
The Federal Reserve just cut interest rates for the first time since March of 2020, fueling volatility in global markets. The move marks the central bank’s shift from fighting inflation to responding to signs of economic slowdown, weakness in the jobs market and other risks to growth. The move triggered major swings for the Dow …
Department of the Treasury Sanctions Cambodian Senator Accused of Running Crypto Scams
The financial intelligence and enforcement agency of the U.S. Treasury Department is announcing sanctions against a Southeast Asian lawmaker and businessman. The Treasury Department’s Office of Foreign Assets Control (OFAC) says it has sanctioned Cambodian senator and tycoon Ly Yong Phat as well as his businesses L.Y.P. Group and O-Smach Resort over alleged involvement in …
Trio of US Senators Including Elizabeth Warren Ask Fed Chair Jerome Powell To Cut Rates by 75 Basis Points
A trio of Democratic senators want the U.S. Federal Reserve to cut the federal funds rate by 75 basis points this week. In a public letter penned to Fed Chair Jerome Powell, Elizabeth Warren (D-Massachusetts), Sheldon Whitehouse (D-Rhode Island) and John Hickenlooper (D-Colorado) argue that recession risks and a softening labor market justify significant rate …
Revolut in advanced stages of plan to launch its own stablecoin
Fintech giant Revolut is reportedly in the advanced stages of developing its own stablecoin, CoinDesk reported on Sept. 17, citing sources familiar with the matter. Revolut, which secured a UK banking license earlier this year, aims to follow the lead of major industry players like PayPal, Ripple, and BitGo, all of which have recently entered …
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Bitcoin should be at $83,883 by 2020 standards, $696k scaled to 2012 growth
Bitcoin’s price is lagging behind previous halving cycles, according to recent data from Halving Tracker. At 151 days after the 2024 halving, Bitcoin stands around $59,800, significantly lower than scaled prices from past cycles. Comparative figures show that at the same point post-halving, the 2012 cycle would scale Bitcoin’s price to $696,090.64, the 2016 cycle …
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CleanSpark doubles down on Bitcoin mining with new Mississippi acquisitions
CleanSpark has intensified its Bitcoin mining efforts by acquiring two new sites near Clinton, Mississippi. On Sept. 17, the Bitcoin miner revealed that the new sites were purchased for $5.775 million and can support 16.5 megawatts. According to the firm, the locations will house S21 Pro miners, providing a combined operating hash rate of roughly …
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US losing edge in crypto due to SEC’s ‘scorched earth’ tactics, Robinhood exec says
Robinhood’s Chief Legal Officer Daniel Gallagher criticized the US Securities and Exchange Commission’s (SEC) approach to crypto regulation in written testimony submitted for a Sept. 18 hearing before the House Financial Services Subcommittee on Digital Assets. Gallagher detailed Robinhood’s efforts to comply with SEC regulations, citing over a dozen meetings and calls over 18 months. …
Swiss stock exchange SIX eyes crypto trading platform to rival Binance
Swiss stock exchange SIX is exploring the launch of a new crypto trading platform in Europe, aiming to challenge dominant players like Binance, Financial Times reported on Sept. 18. Bjørn Sibbern, SIX Group’s global head of exchanges, stated that the firm was assessing a platform to support spot crypto trading and derivatives activities because the …
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NFT Project Doodles to Celebrate Rubik’s Cube’s 50th Anniversary With Digital Collectibles
Non-Fungible Token (NFT) project Doodles has announced a collaboration with Spin Master to celebrate the 50th anniversary of the Rubik’s Cube. This partnership will introduce a “pack ripping” fan experience, where participants can unlock both physical and digital collectibles. Among the collectibles is a unique diamond-encrusted Rubik’s Cube from Eliantte & Co. The initiative also …
Fidelity spearheads $186 million surge in Bitcoin ETF inflows, Ethereum ETFs face $15 million outflow
Bitcoin ETFs recorded net inflows of $186.8 million on Sept. 17, up from $12.8 million the previous day. Fidelity led with $56.6 million, followed by Bitwise and Ark at $45.4 million and $42.2 million, respectively. VanEck and Invesco also saw positive flows, bringing in $20.5 million and $10.2 million. In contrast, Ethereum ETFs experienced net …
Bitcoin Market Stagnation Signals Potential for Future Volatility, Report Shows
Bitcoin’s market is currently experiencing a period of stagnation, characterized by minimal capital inflows and outflows. According to an onchain analysis from Glassnode, researchers highlight that this inactivity may lead to heightened volatility in the near future. Glassnode Analysis Warns of Potential Volatility Glassnode’s report with researchers Ukuria OC and Cryptovizart reveals that demand for …
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