News - Page 47

Strategists at a Wells Fargo subsidiary believe that the US has the potential to develop and launch a central bank digital currency (CBDC) within the next five years. This comes after President Joe Biden signed an executive order authorizing the Federal Reserve to explore CBDC technology.

A crypto analyst has recently examined the charts of Bitcoin (BTC) and Solana (SOL) to provide insights into their current status.

Cardano (ADA) has shown strong performance in the recent recovery rally, surging by approximately 20% from a solid support level of $0.24 to its current trading price of $0.286. This upward movement also coincides with the completion of a bullish double-bottom pattern, indicating the potential for further gains.

Sam Bankman-Fried testified at his fraud and conspiracy trial that he started buying Solana's SOL cryptocurrency at 20 cents using 'Alameda Profits.' He believed that the funds came from Alameda's operating profits, as well as third-party lenders.

One of the biggest crypto hardware wallet providers, Ledger, is launching a new service called Ledger Recover. This service is designed to provide users with a backup of their secret recovery phrase, which is crucial for restoring access to crypto wallets in case the hardware device is lost or damaged.

The CoinDesk Computing Sector (CPU) emerged as the top-performing pocket of digital assets, with a significant increase of over 17%. This sector focuses on protocols that aim to develop and support the infrastructure of Web3 and distributed computing.

New data reveals that deep-pocketed crypto investors are shifting hundreds of millions of dollars worth of crypto assets, including Bitcoin (BTC) and Dogecoin (DOGE).

Crypto trader Ali Martinez predicts that Bitcoin (BTC) is poised for an upward move, but a temporary dip may occur first. According to Martinez, Bitcoin is likely to break above the upper trendline of a bullish ascending triangle. However, before the breakout, the trader expects Bitcoin to decline to $33,000. This correction is estimated to be around 5%.

Gemini Trust Co., led by the Winklevoss twins, has filed a lawsuit against Genesis and its parent company Digital Currency Group (DCG) over the control of Grayscale Bitcoin Trust (GBTC). This legal battle stems from a dispute regarding the Gemini Earn program, where users could lend digital assets to Genesis Global.

The Bitcoin price has been leading the cryptocurrency market recovery since the third week of October. However, it appears to be stalling at the pivotal $35,000 level, raising questions about the sustainability of the current rally.

A recent lawsuit has alleged that Genesis, a prominent digital asset company, has taken actions that have harmed Earn users and impeded their recovery of digital assets. The lawsuit claims that it is crucial to address these issues promptly to allow Genesis to proceed with a reasonable plan of reorganization and enable Gemini to distribute the collateral proceeds to Earn users.

Sam Bankman-Fried, the 31-year-old crypto magnate, is currently facing a trial in New York where he vehemently denies any fraudulent activity. This is a stark contrast to his previous reputation as a pioneering force in the cryptocurrency world.

The energy usage debate has generated significant discussion and concern in recent years. However, the negative impact of this debate may not be as pronounced as initially anticipated. This article explores the key points raised by Amanda Fabiano, former head of mining at Galaxy Digital and industry consultant, regarding the impact of the energy usage debate.

The crypto options market is experiencing a significant boom, with the notional open interest reaching an impressive $20.64 billion. This data, tracked by Switzerland-based Laevitas, reveals a striking similarity to the peak recorded on November 9, 2021, when bitcoin was trading above $66,000. It is worth noting that the current open interest in contract terms is substantially higher than it was in November 2021.

Bitcoin's potential significant upside risk has a short expiration date. Analysts, led by Yukari Kusu, explain that there are two possible scenarios for Bitcoin's price movement.

Turkey has recently announced its intention to impose a regulatory structure on crypto assets, signaling a significant shift in its financial strategy. This move is outlined in the 2024 Presidential Annual Program, which highlights the government's definitive approach towards cryptocurrencies, a market that is rapidly gaining traction within the country.