News - Page 46

In the past two weeks, the Ethereum price has experienced a significant surge, reclaiming crucial resistance levels at $1,600 and $1,700. However, the asset is now facing headwinds as Bitcoin struggles to break past the $35,000 mark, leading to increased selling pressure across the crypto market. This has caused the ETH recovery to stall around the $1,800 level, raising concerns about a potential correction.

Galaxy Digital, the crypto investment firm led by Mike Novogratz, has recently made several bullish statements on the future of cryptocurrencies. The firm is confident that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin exchange-traded fund (ETF) this year. In addition, Galaxy Digital is actively investing in Bitcoin and Ethereum on decentralized lending platforms Aave and Compound.

Leading crypto exchange Coinbase has revealed that a significant number of Americans born between 1981 and 2012 are likely to support candidates in the upcoming US election who are in favor of digital assets.

The RUNE coin price is currently following a rising channel pattern on its daily chart, indicating potential for further growth. This pattern, combined with a bullish market sentiment, has fueled a significant rally over the past nine days. However, there are concerns about whether this bullish momentum can withstand the emerging market-wide selling pressure.

Bitcoin bulls are maintaining a strong position above the $34,000 mark despite various pressures in the market. Traders are closely watching the market direction as they assess whether the ongoing bullish rally will continue or start to fade.

Crypto analyst Justin Bennett is issuing a warning on Bitcoin (BTC) as the flagship crypto asset has been experiencing double-digit gains over the past week.

Solana, a competitor to Ethereum in the Layer-1 space, has been experiencing a significant rally in its price. Earlier this week, the price of SOL surged above $32, catching the attention of analysts and investors.

As the developments around spot Bitcoin ETF approval catch steam, more and more players are willing to join the bandwagon. Bloomberg’s senior ETF analyst, Eric Balchunas, has revealed that Roundhill, a SEC-registered financial player, has filed for a Bitcoin-covered call ETF.

Recent data from the Federal Reserve Economic Data (FRED) system reveals a significant decline in deposits in US commercial banks. Over a three-week period, deposits decreased by $100 billion, raising concerns about the state of the financial sector.

Sam Bankman-Fried (SBF), former CEO of FTX, testified on October 27 regarding political donations originating from the crypto exchange. Bankman-Fried clarified that he never held discussions with Nishad Singh or Ryan Salame concerning donations to U.S. politicians. He emphasized that the contributions made in his name resulted from 'loans from Alameda Research' in an attempt to potentially influence the U.S. government's stance on cryptocurrency regulations.

In recent years, the cryptocurrency market has experienced significant volatility, leading to the collapse of several crypto exchanges and lenders. One such exchange, FTX, faced a similar fate in July 2022. However, it is important to note that FTX was not the only one to suffer. Other prominent players in the industry, including Celsius, Voyager, and BlockFi, also faced bankruptcy.

The XRP community and Ripple Lab's Chief Legal Officer (CLO), Stuart Alderoty, expressed their support for SEC Commissioner Hester Peirce's condemnation of the LBRY lawsuit. Peirce, in a statement of dissent, voiced her concerns about the enforcement actions taken by the SEC against various crypto exchanges, including Ripple, LBRY, Kraken, Binance, and Coinbase.

One of the biggest banks in the US, Bank of America, has come under scrutiny after reportedly refusing to reimburse a customer who had cash stolen from an ATM. The incident gained media attention when the customer, Kyle Fischer, shared his story with local news outlets.

A market intelligence platform has identified several altcoins that are expected to continue rallying as traders focus on Bitcoin (BTC) and Ethereum (ETH). According to crypto analytics firm Santiment, these altcoins are experiencing an increase in new wallet addresses and rising prices.

Billionaire Elon Musk is reportedly aiming to launch financial services on the social media platform X by the end of next year. Musk expects X's comprehensive financial features to roll out by the end of 2024 and compete with traditional banks.

In an effort to alleviate financial hardships and explore the impact of cash handouts, two major metropolitan areas in the United States are implementing guaranteed income programs. With a total of $37.56 million being distributed, these initiatives aim to support individuals and families living below the poverty line.