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Steve Muchoki

Articles by Steve Muchoki

Gary Gensler Is Believed to Be Politician Masquerading as Regulator

17 hours ago

As a Democratic-affiliated SEC Commissioner, Gary Gensler has shifted his regulatory role to a politician seeking to be appointed as Treasury Secretary according to some Congressmen.

The nomination of the 33rd Chair of the United States Securities and Exchange Commission (SEC), Gary Gensler on April 17, 2021, was viewed as a huge relief in the crypto space. Nearly three years later, the former Goldman Sachs Investment banker has turned against the crypto in what seems like pleasing the Oval Office for future favors. In a recent detailed piece by news outlet, Fortune, Democratic congressman Ritchie Torres, argued that Gensler is a mere politician who is masquerading as a regulator. Furthermore, Gensler has continued to advocate for the crypto market to be regulated under decades-old

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Ethereum (ETH) at $2100: Price on Cusp of Bullish Breakout Similar to Bitcoin Following US Regulatory Clarity

7 days ago

Ethereum (ETH) price is currently retesting a crucial support/resistance zone around $2,130 with the bulls rejuvenated for a robust bullish breakout.

The second largest digital asset by market capitalization Ethereum (ETH) has attracted notable attention amid the ongoing Web3 mainstream adoption fueled by institutional investors. The recent Ethereum spot exchange-traded fund (ETH) filed by the well-funded BlackRock Inc (NYSE: BLK), has sparked high interest for the undisputed smart contract and DeFi king that has a total value locked (TVL) of about $26 billion. Additionally, the Ethereum network has dominated the stablecoins market as it had a total of about $65.8 billion, thus accounting for more than half.
Ethereum Price Action
With the demand for Ether rising exponentially amid the

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Grayscales Files Updated Spot Bitcoin ETF Application with US SEC after Binance’s Forced Exit

8 days ago

Grayscale officials had previously met with the US SEC representatives to the division of trading and markets to discuss the proposed rule to list and trade GBTC under NYSE Arca.

After the United States Department of Treasury purged Binance Holdings Ltd’s operations in the country, the pathway for spot Bitcoin exchange-traded funds (ETFs) was clear. Around the same time, Grayscale Investments, a digital asset management company owned by Digital Currency Group (DCG), was preparing to update its application with the US SEC.  According to a memo from the US SEC, several of Grayscale’s top executives led by Chief Executive Officer Michael Sonnenshein met with the agency on November 20 to discuss the necessary changes needed on the original filing to ensure the approval of the application.

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Binance Possible $4B Civil Settlement in US Ignites BNB and Bitcoin Bulls

10 days ago

BNB price has gained about 6.4 percent in the past 24 hours to trade around $262 as the charges filed by the DoJ are believed to be finalized by the end of this month.

Amid the ongoing altcoin recovery, Binance’s native coin BNB has enjoyed a much-needed recovery, thus invalidating the possible replay of the FTX scenario. Binance Holdings Ltd., a leading cryptocurrency exchange that has invested heavily in the Bitcoin network and the web3 ecosystem, is looking at a possible settlement with the United States, according to a recent report prepared by Bloomberg News. Reportedly, the United States Department of Justice (DoJ) is in final negotiations with Binance’s attorneys to ensure a settlement deal is reached soon on the multiple criminal violations. Specifically, the DoJ is reportedly

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Bernstein Report: Bitcoin (BTC) Market Cap Could Surpass $3T by Mid-2025 Fueled by Geopolitical Instability

11 days ago

Bernstein analysts are convinced the flagship digital asset will continue on a bullish trajectory amid the incoming halving event that will reduce Bitcoin’s monthly selling pressure to less than $500 million.

Bitcoin (BTC) opened the fourth week of November with a renewed bullish outlook fueled by the victory of Argentina’s pro-Bitcoin and anti-CBDC President Javier Milei. The stability and economic balance of the mother coins have undeniably impressed a lot of institutional investors seeking to protect their wealth from mainstream inflation. According to our latest market data, Bitcoin’s daily average trading volume has spiked about 37 percent in the past 24 hours to about $15 billion amid possible correction in the coming weeks.
Moreover, despite the daily golden cross between the 50

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Amazon to Launch Hyundai Vehicle Sales in 2024

14 days ago

Amazon users will be able to find and buy Hyundai vehicles of choice from different US local dealers beginning next year with the Alexa built-in expected to be integrated into the company’s next-generation vehicles.

Leading online retail shopping company Inc (NASDAQ: AMZN) has announced a broad and strategic partnership with South Korea-based automotive manufacturer Hyundai Motor Co. Ltd (KRX: 005380) to ensure sustainable growth and innovative customer experiences. According to the announcement made during the 2023 Los Angeles Auto Show, Amazon will be launching online sales of Hyundai vehicles in the United States beginning next year. Additionally, Hyundai named Amazon Web Services (AWS) as its preferred cloud provider in a bid to digitize its next-generation models and

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PancakeSwap Unveils Web3 Gaming Platform, Boosting CAKE’s Bullish Narrative after Descent 132% Breakout in One Month

15 days ago

PancakeSwap has called on web3 gamifi developers to join Pancake Protector and Pancake Mayor in engaging its vibrant 1.5 million potential monthly players.

PancakeSwap Finance (CAKE), a vibrant web3 ecosystem that was initially built on BNB Chain but grew to a multichain project, has introduced its PancakeSwap Gaming marketplace for both developers and gamers. According to the announcement, the PancakeSwap Gaming Marketplace will cater to gamifi developers by providing a platform to effortlessly build their projects and get exposure to a vibrant community. Additionally, the PancakeSwap Gaming Marketplace will offer web3 gaming enthusiasts a platform to engage with other community members and get a chance to accumulate more CAKE tokens and NFTs.
Consequently, CAKE’s price edged about 32

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Meet Verified USD (USDV): A Revolutionary Stablecoin Transparently Pegged to Tokenized US Treasuries

16 days ago

At the launch of the Verified USD (USDV) dozens of leading CeFi and DeFi like Animoca Brands, BIT exchange, Coin98 Finance, Matrixport, SushiSwap, and Stargate Finance, among many others will offer support for the revolutionary stablecoin project to its users.

Verified USD Foundation, a non-profit and community-based organization that is working on revolutionizing the stablecoins market, has announced the launch of Verified USD (USDV). According to the company, the USDV is a community-driven stablecoin that is fully backed by the United States Treasury Bills (T-bills) and provides complete on-chain transparency of its reserves. Notably, the USDV stablecoins are based on the Omnichain network and fully compatible with the Ethereum ecosystem through the ERC-20 standard. The USDV

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Altcoins to Watch Out for as Bitcoin, Ethereum, Solana Cool Off after Impressive Rally

17 days ago

Bitcoin and some large-cap altcoins have experienced significant resistance in the past few days pushing crypto traders to small-cap and meme coins’ speculation.

The crypto cash flow has been moving from Bitcoin (BTC) and large-cap altcoins like Ethereum (ETH), Solana (SOL), and Chainlink (LINK) to small-cap and meme coins as indicated by the traded volume. According to market data provided by Binance-backed Coinmarketcap, the daily average traded volume for meme coins was up approximately 121 percent to around $3.2 billion. On the other hand, Bitcoin and Ether’s trading volume had stalled despite the frenzy on-the-spot exchange-traded funds. For instance, Bitcoin price has dropped about 3 percent since Monday to trade around $36.6k on Tuesday.
The leading smart contract and DeFi

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Fake News on BlackRock’s iShares XRP Trust Sends Price Briefly to $0.74 Leading to High Liquidation

17 days ago

For several hours, the iShares XRP Trust appeared on the ICIS Delaware website suggesting that BlackRock had filed to list an XRP ETF, which was confirmed to be fake.

Amid the ongoing Bitcoin (BTC) and Ethereum (ETH), exchange-traded funds (ETFs) in the United States, the crypto community has questioned why the Ripple Labs-backed XRP has not been included and it has legal clarity. On Monday, reports circulated on the X platform that BlackRock Inc (NYSE: BLK) had filed to list an XRP exchange-traded fund (ETF). Notably, BlackRock’s iShares XRP Trust appeared on the ICIS Delaware website, which was highlighted to be fake and market manipulative. Moreover, the XRP price rallied 15 percent and briefly reached 76 cents before retracing to the former levels after it was confirmed to be fake

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Peter Schiff Predicts Bitcoin Crash as US ETF Frenzy Gets Slowly Priced In despite High Optimism

18 days ago

While Peter Schiff thinks Bitcoin price will crash before the ETF launch in the United States, analysts at AllianceBernstein issued a prediction of $150k in 2025 driven by the halving event and institutional inflows.

The recent Bitcoin (BTC) breakout has significantly raised investors’ optimism for a continued bullish trend in the coming weeks toward the end of the year. Already, the altcoin market led by Ethereum (ETH), Solana (SOL), and Chainlink (LINK) has made significant gains in the past few days suggesting the bulls are in control. However, Peter Schiff, the Chief Economist and Global Strategist at signaled a possible market crash before the highly anticipated approval of Bitcoin exchange-traded funds (ETF). Notably, Schiff was responding to a survey on when a Bitcoin

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ADA Price Gains Over 52% in 4 Weeks despite Notable Cardano Network Upgrade Delays

18 days ago

Cardano Foundation CEO Frederik Gregaard recently noted that the development of the smart contract-enabled ecosystem has been slow due to the high academic approach, which has been considered boring but important.

Amidst the ongoing altcoin breakout fueled by the optimism revolving around the Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) in the United States, Cardano (ADA) has been among the best-performing top-rated altcoins and demonstrated very positive price trends. Backed by a vibrant community of Decentralized Finance (DeFi) developers and investors, the Cardano network has grown to a mature blockchain ecosystem supporting top-tier projects. As of this writing, the Cardano network had a total value locked (TVL) of about $249 million and a stablecoins market

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UK Government Publishes Regulatory Framework for Crypto Assets and Stablecoins to Prevent FTX 2.0

25 days ago

Following the collapse of Terra Luna and FTX last year, the UK policymakers have committed to introducing a new regulatory regime for crypto assets and stablecoins to ensure sustainable and secure mainstream adoption.

The United Kingdom policymakers have in the past year worked closely with different financial institutions and other stakeholders in formulating detailed regulatory frameworks for cryptoassets and stablecoins. According to CryptoUK, the trade body formed to represent the digital asset sector in the UK, the recent publication by the HM Treasury (HMT) on the Future Financial Services Regulatory Regime for Cryptoassets that was in response to the initial consultation on Managing the Failure of Systemic Digital Settlement Assets has provided a clear overview on the fiat-backed

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Circle Announces Closure of Individual Consumer Accounts on November 30

November 1, 2023

The creator of the second largest stablecoin USDC with a market cap of about $24.7 billion announced that it will support only business institutional accounts.

In a strategic move to review its relations with customers, Circle, a leading and regulated stablecoin issuer, informed its individual account holders that they will not be serviced by the end of this month. Circle wrote an email to its individual customers informing them to redeem their coins before November 30, as only institutional and business account holders will be serviced. The company highlighted that the recent action to close individual accounts is consistent with its specific terms in the applicable legal agreement.
As a result, account holders without active balances are not required to take any further actions but

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Solana Blockchain Nodes Now Available to DeFi and Dapp Developers on AWS Repository

November 1, 2023

The AWS Blockchain Node Runners has so far integrated Ethereum (ETH) and Solana (SOL), thus making it a major step for the latter to become a Web 3.0 hub that supports scalable smart contracts.

Solana (SOL), a leading smart contract blockchain with a smartphone in the market dubbed Saga mobile, has announced that infrastructure nodes are now available on the Amazon Web Services (AWS) Blockchain Node Runners repository for easy access by Web 3.0 developers. The Solana team announced the major developments during the Breakpoint 2023 in Amsterdam, Netherlands. The partnership between Solana and the AWS team will ease the workload needed by enterprises seeking to build Web 3.0 applications by lowering the entry-level requirements. Moreover, the Solana network provides a scalable

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Serial Entrepreneur Robert Kiyosaki Predicts Bitcoin Price Rally to $135K Fueled by Fiat Inflation

October 23, 2023

The author of Rich Dad Poor Dad expects the prices of Bitcoin (BTC), Gold, and Silver to rally in the near future as every government around the world prints more money pushing inflation to a multi-year high.

Popular entrepreneur and financial educator Robert Kiyosaki issued a prediction for Bitcoin (BTC), and top precious metals amid heightened volatility in the crypto space. According to Kiyosaki, Bitcoin price is well positioned to rally towards $135,000 in the near term. His BTC price prediction follows a recent rally induced by a fake update of spot ETF approval that has awakened FOMO crypto traders. Notably, Bitcoin price has been retesting the resistance zone above $30k and below $32k for the third time year-to-date.
With a notable spike in Bitcoin’s traded volume, crypto experts

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Binance Completes 25th Quarterly BNB Burn Worth over $453M, Price Gains 3%

October 16, 2023

Binance burned about 2.13 million BNB coins during the last three months thus bringing the total coins removed from circulation to about 50.2 million units.

Binance, a leading blockchain ecosystem with the largest centralized cryptocurrency exchange by Bitcoin’s daily traded volume and globally registered users, has announced the completion of the 25th quarterly auto-burn of its native coin BNB. According to the announcement, about 2,139,182 BNB, worth over $453 million, has been removed from the circulating supply for life. In addition to about 314 BNB coins burned through the pioneer burn program, which aims to reimburse Binance users who have innocently lost their coins to uncontrolled smart contracts, the total coins burned during the third quarter amounted to approximately

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CoinList Introduces Crypto Staking for Accredited Investors in US

October 13, 2023

The CoinList staking fund offers US accredited investors an opportunity to earn a yield on their digital assets through investment in a private fund.

CoinList, an established launchpad for crypto-related projects, has announced the launch of its staking fund meant for the US select customers. According to the announcement, the CoinList staking fund will offer accredited investors in the United States to earn different yields from their digital assets. Some of the supported digital assets during the launch include Ethereum (ETH) with an APY of about 3.76 percent, and Near (NEAR) with an APY of 6.96 percent.
However, the company announced that more digital assets are in the pipeline to be launched for its staking fund. Some of the altcoins in the CoinList staking fund’s pipeline include

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Binance to List Neutron (NTRN) with Seed Tag to Enable Mainstream Adoption of Interoperable Smart Contracts

October 10, 2023

In a bid to showcase how serious the Neutron project has become, more than 190 million ATOM tokens have been staked through the CosmWasm platform.

Leading cryptocurrency exchange by Bitcoin balance and registered global users with KYC, Binance, has announced that Neutron (NTRN), a cross-chain smart-contracting platform, will be available for spot and margin trading with a seed tag. According to the announcement, the NTRN token spot trading will be available for select Binance users beginning October 10. The NTRN token will be tradable on the spot platform through Bitcoin, Binance Coin (BNB), and Tether (USDT) pairs. The crypto exchange added that Neutron (NTRN) will be added as a borrowable asset with the Tether USDT pair on margin trading within 48 hours.
Notably, the withdrawal of

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Matrixport: Bitcoin Is Better than Digital Gold and Huge Cash Inflow to Crypto Assets Is on Horizon

October 9, 2023

The firm believes the approval of a spot Bitcoin ETF in the United States will trigger an influx of over $30 billion in subsequent months.

The mainstream adoption of Bitcoin (BTC) by institutional investors has put the gold market on notice with a possible decoupling in the coming few years. According to a report by Matrixport, Bitcoin is about to challenge gold as a store of value due to the simple fact that the former has outperformed the latter in the past years. Additionally, the demand for Bitcoin has significantly increased in the past year despite the FTX and Alameda Research collapse that wiped out more than $30 billion from the nascent industry.
Notably, more than 10 fund managers with a combined market capitalization of more than $17 trillion have applied with the United

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Hong Kong Officials Warn Investors to Stay Away from Retail Stablecoins since They Are Unregulated

October 6, 2023

The Hong Kong Monetary Authority (HKMA) recently completed a public consultation on stablecoins regulations.

As the city of Hong Kong prepares for mainstream adoption of digital assets through a regulated manner, the officials are grappling with cases of crypto-related scams. In a bid to ensure maximum protection of investors’ funds, Hong Kong’s Secretary for Financial Services and Treasury Christian Hui has noted that trading of retail stablecoins is not yet allowed. With the regulations of stablecoins in Hong Kong expected to take place late next year, Hui cautioned investors to tread cautiously with the retail stablecoins.
This comes after a local crypto exchange dubbed JPEX dipped investors millions of dollars and charged customers up to $1000 to facilitate withdrawals. Notably,

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eToro Receives Approval to Offer Crypto-Related Services in EU Under CySEC CASP Register

September 21, 2023

EToro will be in a position to offer cross-border crypto services after the EU’s Markets in Crypto Assets (MiCA) regulatory framework goes into effect in December 2024.

An investing platform with over 32 million registered users, eToro, has announced that it is ready to offer crypto-related services in the European Union (EU) after its application for registration under the Crypto Asset Service Provider (CySEC CASP) was approved. The company, however, announced that its Europe entity will be in a position to provide crypto-related services after the Markets in Crypto Assets (MiCA) regulatory framework goes into effect during the fourth quarter of 2024.
eToro in the EU
As a result, the multi-asset investing platform is now regulated in several jurisdictions including the United Kingdom

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South Korea Legislators Plans to Submit Bill to Track and Neutralize Digital Assets Stolen by North Korea Hackers

September 4, 2023

The North Korean government is said to sponsor hackers to steal digital assets and fund its military operations, with on-chain analysis suggesting they have siphoned over $2 billion since 2018.

The Republic of Korea (South Korea) is reportedly working on a bill to track and seize digital assets stolen by hackers from North Korea. According to a local media outlet, the Korea JoongAng Daily, government sources have confirmed that the bill is in the pipeline in a bid to strengthen the country’s cybersecurity. The government officials who remained anonymous to the media outlet highlighted that the bill will include clauses to enable the National Intelligence Service (NIS) to track and neutralize digital assets stolen by North Korean hackers.
Reportedly, the new cybersecurity bill is set to

Read More » Raises $100M in Series D Funding Round Led by Bain Capital Ventures (BCV) at Valuation of $1.6B

August 29, 2023

[unable to retrieve full-text content] Raises $100M in Series D Funding Round Led by Bain Capital Ventures (BCV) at Valuation of $1.6B has grown to a respectable B2B platform with over 3 million global customers hence its revenue up more than nine times in the past two years. Raises $100M in Series D Funding Round Led by Bain Capital Ventures (BCV) at Valuation of $1.6B

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Mukesh Ambani-backed Jio Financial Services Announces Plans to Extend Services to Insurance Industry

August 28, 2023

[unable to retrieve full-text content]CoinspeakerMukesh Ambani-backed Jio Financial Services Announces Plans to Extend Services to Insurance Industry
The Indian billionaire highlighted during Reliance’s annual general meeting that JFS intends to further widen its financial services with global partners including Blackrock.
Mukesh Ambani-backed Jio Financial Services Announces Plans to Extend Services to Insurance Industry

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Gap Reports Mixed Q2 2023 Financial Results, GPS Shares Up 1% in Pre-market

August 25, 2023

[unable to retrieve full-text content]CoinspeakerGap Reports Mixed Q2 2023 Financial Results, GPS Shares Up 1% in Pre-market
Gap Inc’s new CEO Richard Dickson took over after the company reported an 8 percent drop in sales in Q2 to $3.55 billion, compared with $3.86 billion a year earlier.
Gap Reports Mixed Q2 2023 Financial Results, GPS Shares Up 1% in Pre-market

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Coinbase Global Announces Its Canada Expansion via Strategic Partnership with Peoples Trust Company

August 14, 2023

[unable to retrieve full-text content]CoinspeakerCoinbase Global Announces Its Canada Expansion via Strategic Partnership with Peoples Trust Company
Coinbase has committed to accelerating its international expansion amid the mainstream adoption of digital assets and blockchain technology.
Coinbase Global Announces Its Canada Expansion via Strategic Partnership with Peoples Trust Company

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