Crypto news

Bitcoin initiated a leg up in the past 24 hours that brought it just inches away from the coveted $30,000 line. However, the asset is yet to breach it. The altcoins are also on the rise, with ETH nearing $2,000, while SOL and UNI are up by 4% daily. However, the day belongs to PEPE and Floki Inu. Bitcoin Stopped Ahead of $30K The working week, which was also the beginning of the new month, started on a bad note for bitcoin, which slipped by roughly two grand in hours to a...

The government of Kenya plans to impose a 3% tax on cryptocurrency transfers to narrow the fiscal deficit of the country and boost its domestic revenues. Kenya is among the leaders on the African continent in terms of crypto adoption. Patrick Njoroge – Governor of the Central Bank – has previously suggested that bitcoin could solve the nation’s problems with its depreciating official currency. Crypto Included in the New Bill As reported by Bloomberg, Kenya’s lawmakers might...

Payment giant Stripe announced the launch of a fiat-to-crypto onramp to streamline process the for Web3 companies to enable US-based customers to purchase crypto. The company will also be opening the onramp to all Web3 users, in addition to the ones who joined the waitlist over the last few months. The onramp, whether embedded on a company’s site or hosted by Stripe, focuses on optimizing conversion and authorization rates. Such a mechanism in place makes it more likely that...

A US court has ordered the Securities and Exchange Commission to respond to Coinbase’s complaint about clarity on whether the securities regulator would allow the industry to be regulated using existing frameworks. The latest development emerges amidst escalating tensions between the SEC and Coinbase, with the former ramping up enforcement actions and warnings against crypto firms, including the US crypto giant. SEC’s 10-Day Deadline Coinbase chief legal officer Paul Grewal...

Ripple’s price action has been relatively bearish recently, following a rejection from a significant resistance level. Currently, XRP is trading near a key support level, and its reaction would determine the short-term market trend. Technical Analysis By: Edris XRP/USDT Daily Chart The price is ranging around the 50-day moving average, located near the $0.46 level. A breakdown of this moving average would lead make the market retreat further towards the $0.4 support level and...

Ethereum’s price has been making corrections following the rally over the last few months. However, there are plenty of support levels that could hold the price in the short term. Technical Analysis By: Edris The Daily Chart Looking at the daily timeframe, the price has been on the decline over a period of several weeks after failing to reach the $2200 resistance level. The 50-day moving average is currently holding the market around the $1900 level, with $1800 also providing...

Republican Senator John Kennedy of Louisiana called banks “sophisticated Ponzi schemes” while discussing the US banking crisis that’s claimed multiple crypto-supportive financial institutions in the past two months.  The politician also spoke on the state of inflation, which he believes the Federal Reserve will need to bring to at least 8% to cool down.  Banks Are Ponzi Schemes? In an interview with CNBC that aired in full on Friday, Kennedy stressed that banks “exist on the...

The authorities of Israel have reportedly seized around 190 cryptocurrency accounts at Binance since 2021, saying some of those were tied to the terrorist groups – Hamas and Islamic State. The exchange claimed that Reuters (the media outlet that informed about the confiscation) is “deliberately leaving out critical facts to fit their narrative.” It asserted that anti-money laundering and preventing terrorist activities remain a key focus for the company. The Reuters/Binance...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Michael Saylor – the man behind software giant MicroStrategy and a major crypto bull – has paid off a $200 million+ loan obtained from the now failed crypto bank Silvergate and has purchased even more bitcoin units, thus bringing the company’s total BTC holdings to nearly $4 billion. Michael Saylor Won’t Give...

The growth of artificial intelligence technology is expected to increase the overall demand for fast-processing electronics. Foxconn Technology Co Ltd (Taiwan: 2354), one of the largest global employers in the electronics manufacturing industry and a major supplier to Apple Inc (NASDAQ: AAPL) announced a sales decline of 11.77 percent in April, YoY basis. However, the company’s revenue was in line with prior estimates, which came in at T$429.2 billion, approximately $14 billion. As the...