A widely followed crypto analyst says that holders of smart contract platform Solana (SOL) may be due for the same pain Ethereum (ETH) traders felt during previous cycles. In a new interview on the Crypto Banter YouTube channel, popular crypto trader Benjamin Cowen says that Solana paired against Bitcoin (SOL/BTC) is printing the same patterns …
Yearly archives: 2024
This Crypto Sector Is About To Do a Repeat of 2021 Explosion, According to Top Trader
A veteran crypto trader says that one digital assets sector is about to pull off an under-the-radar repeat of its 2021 rallies. The pseudonymous trader known as Bluntz tells his 304,000 followers on the social media platform X that the decentralized finance (DeFi) sector is “de-risked” following news that the crypto project linked to President-elect …
Justin Sun Files Request for 53,000 ETH Withdrawal from Lido
TLDR Justin Sun has applied to withdraw 52,905 ETH (worth ~$209 million) from Lido, part of a larger accumulation strategy involving 392,474 ETH purchased between February and August Sun recently sold 29,920 ETH worth $119.7 million to HTX exchange after ETH reached $4,000 Current ETH price is at $3,961 with a 27% monthly gain and …
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Ripple RLUSD investors warned against FOMO as stablecoin trades well above peg pre-launch
Ripple CTO David Schwartz has urged potential investors to avoid panic-driven purchases of the Ripple USD (RLUSD) stablecoin before its official launch. In a Dec. 15 post on X (formerly Twitter), Schwartz warned of a possible initial supply shortage, which could cause price fluctuations for the dollar-pegged asset. This caution comes as pre-launch offers for …
Donald Trump reportedly plans to leverage $200 billion US Treasury fund for Bitcoin reserves
US President-elect Donald Trump is reportedly considering an Executive Order to establish a Strategic Bitcoin Reserve (SBR), according to Satoshi Act Fund founder Dennis Porter. On Dec. 15, Porter shared on social media platform X (formerly Twitter) that Trump plans to use the Treasury’s Exchange Stabilization Fund (ESF) to implement this strategy after his inauguration. …
New fair value Bitcoin accounting rules go live paving way for corporate reserve adoption
The Financial Accounting Standards Board (FASB) has implemented its Fair Value accounting rule for crypto, effective Dec. 15, 2024. This update aims to address accounting and disclosure practices gaps for cryptocurrencies while enhancing transparency in financial reporting. Under the new rule, companies must measure their crypto holdings at fair value and update these valuations in …
Bitcoin reaches new $106k all-time high causing $313 million in liquidations
Bitcoin’s price momentum continues to shatter records, with the top crypto reaching a new all-time high. On Dec. 16, data from CryptoSlate showed that Bitcoin peaked at $106,488 during Asian trading hours before settling at $104,771 at the time of reporting. Bitcoin Price (Source: Tradingview) This milestone extends the flagship digital asset’s impressive rally, which …
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‘Pharma Bro’ Martin Shkreli Is Short Microstrategy: ‘Saylor Is Insane’
Martin Shkreli, also known as Pharma Bro, has criticized Michael Saylor for implementing a bitcoin playbook for Microstrategy, stating that it cannot end well. Shkreli revealed that he was short Microstrategy, explaining that it was both fun and “a little painful.” ‘Pharma Bro’ Martin Shkreli Blasts Michael Saylor, States It Will ‘Not End Well’ for …
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Russian State Duma Deputy Chairman Calls out Tariff Bluff, Remarks on Digital Currencies’ Role in Freeing International Trade
Alexander Babakov, Deputy Chairman of the Russian State Duma, called out President-elect Trump’s recent threats regarding the hypothetical implementation of a 100% tariff regime on the BRICS bloc, stating that such an application was unlikely. Russian State Duma Deputy Chairman: Trump Unlikely to Proceed With 100% Tariff Threat President-elect Trump still has officials worried about …
WBTC Delisting Sparks Skirmish Between Justin Sun and Coinbase Executive
The upcoming delisting of Wrapped BTC (WBTC) from the Coinbase platform and the legal battle between the exchange and Bit Global have sparked a series of social media skirmishes between Bit Global-linked Justin Sun and Coinbase CLO Paul Grewal. Justin Sun and Coinbase CLO Paul Grewal Discuss WBTC Delisting on Social Media The recent lawsuit …
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Bitcoin Could Become Neutral Reserve Asset As BTC Now a National Security Issue, Says Investor Luke Gromen
Macro guru Luke Gromen believes the US has minimal choice but to seriously consider elevating Bitcoin (BTC) as a neutral reserve asset. In a new interview with Bitcoin firebrand Robert Breedlove, Gromen says the country is facing a national security crisis after Russia crushed US and NATO forces in Ukraine. Gromen believes that the defeat …
Latam Insights: El Salvador’s Gold-to-Bitcoin Power Trade, Argentina Opens to Foreign Crypto ETFs
Welcome to Latam Insights, a compendium of the most relevant crypto and economic news from Latin America over the past week. In this issue, El Salvador could make a gold-to-bitcoin power trade, Argentina opens up to foreign crypto ETF opportunities, and Brazil might scale back its stablecoin self-custody ban provision. El Salvador Discovers $3 Trillion …
Unlocking the Future: Your Fun Guide to Decentralized Finance and Web3
Step into a world where finance shakes hands with freedom, and the internet becomes your personal playground. Welcome to the fascinating domains of decentralized finance (defi) and Web3. Decentralized Finance and Web3—What Do They Really Mean? Defi, short for decentralized finance, brings financial services to public blockchains like Ethereum, offering a gateway to activities such …
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Bitcoin Technical Analysis: Bulls Eye $110K After All-Time High Breakout
Bitcoin’s price, now hovering between $105,025 to $105,269, showcases a lively market with a 24-hour trade volume hitting $82 billion and a market cap soaring to $2.08 trillion. Bitcoin On the 1-hour chart, bitcoin‘s recent leap past $105,000 highlights a powerful bullish breakout, touching a record peak at $106,533. Short-term support is pegged around $104,000, …
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Kraken Slammed With $5.1 Million Fine for Regulatory Breach in Australia
An Australian court fined Kraken $5.1 million AUD for offering a margin lending product to Australian customers without proper regulatory approval. Unlawful Credit Facility An Australian court has fined the digital asset exchange platform Kraken $5.1 million Australian dollars (AUD) for “unlawfully issuing a credit facility to more than 1,100 Australian customers.” The penalty concludes …
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