News - Page 31

Ripple's Chief Legal Officer (CLO), Stuart Alderoty, and members of the XRP community are openly criticizing the Securities and Exchange Commission (SEC) and its Chair, Gary Gensler. This comes in response to recent actions and decisions by the SEC that have negatively impacted the cryptocurrency industry.

BitMEX co-founder Arthur Hayes believes that Bitcoin (BTC) could see positive effects from a potential crisis in the US banking system. Hayes points out that the US banking crisis is resurfacing, with banks like Manufacturers and Traders (M&T) Bank facing insolvency issues due to their high exposure to commercial real estate (CRE) in their loan portfolios.

A recent report has confirmed that the U.S.-based virtual asset exchange, EDXM or EDX Market, will be delisting Bitcoin Cash (BCH) from its trading offerings. This news has attracted the attention of investors and sparked curiosity within the cryptocurrency community.

BitMEX co-founder Arthur Hayes has been bullish on Bitcoin in the last few months and recommended the crypto community to buy the dip when BTC price was trading under $25,000. Bitcoin is up 75% this year and the U.S. Fed Reserve pivot confirms a massive pre-halving rally, the crypto market awaited after the most devastating bear market crypto community has ever seen.

Northern Data AG, one of Europe’s largest Bitcoin mining companies, has announced that it has entered into a loan agreement with the Tether group. The loan agreement, which includes Northern Data AG and its subsidiaries, provides a debt financing facility of €575 million.

A widely followed crypto trader is warning that altcoins face a bearish outlook in the event that Bitcoin (BTC) reaches new local highs.

Ethereum (ETH) has been quietly making significant progress amidst the attention-grabbing performances of Solana, XRP, and Cardano in the altcoin market rally. With a 2% increase in the last 24 hours, the ETH price has reached $1839, accompanied by a market cap of $221 billion.

Cardano, a prominent altcoin, has been actively participating in the recent market rally. Over the last 24 hours, the price of ADA, Cardano's native token, has surged by 8%, surpassing the $0.30 mark. Currently, ADA is trading at $0.31, with trading volumes increasing by 15% to over $358 million.

Solana continues its unstoppable rally, gaining another 12% in the last 24 hours and reaching its 14-month highs of $46. This impressive surge has allowed Solana to recover all the losses it experienced after the collapse of the crypto exchange FTX.

The crypto market experienced a significant increase in prices after the United States Federal Reserve Open Market Committee (FOMC) decided to keep interest rates steady in the range of 5.25% to 5.50%. This decision added to the positive momentum that had been building since the last week of October 2023.

In a strategic move, MicroStrategy has purchased an additional 155 bitcoins for $5.3 million, further expanding its cryptocurrency portfolio. This acquisition comes as Bitcoin's market value reaches a significant yearly peak, as noted by Chairman Michael Saylor. With this latest investment, MicroStrategy solidifies its position in the digital currency sphere.

The prosecutors in the FTX fraud trial have concluded that Sam Bankman-Fried, the disgraced founder of FTX, is guilty beyond reasonable doubt. In court transcripts reported by Inner City Press, Assistant Attorney of the United States Nicolas Roos addressed the jury, presenting a compelling argument against Bankman-Fried.

A crypto strategist who accurately called the top of Bitcoin’s 2021 bull market is expecting another leg up for XRP. Pseudonymous analyst Pentoshi believes that XRP looks bullish after breaking through a key resistance level at $0.548. He suggests that a breakout above $0.548 could lead to a price range of $0.62-$0.63.

The United States Federal Reserve Open Market Committee (FOMC) has decided to keep the interest rate range unchanged at 5.25%-5.50%. This decision comes after a period of aggressive interest rate hikes since March 2022.

Amidst the ongoing turmoil enveloping FTX, a recent mishap has left a $58 million Solana (SOL) stranded in a staking account linked to the embattled crypto exchange. This incident adds another layer of complexity to the unfolding drama.

A trader who accurately called Bitcoin’s May 2021 crash believes that the king crypto has officially entered a bull market. Pseudonymous analyst Dave the Wave points out that Bitcoin’s moving average convergence divergence (MACD) indicator on the monthly chart has flipped bullish after crossing over the zero level.