Crypto news

The reason behind the exchange’s decision is not clear. According to those familiar with the matter, closing the service is not linked to the scrutiny from SEC which has alleged that Coinbase was offering and trading unregistered securities, thereby violating federal securities laws.  Crypto exchange Coinbase Inc (NASDAQ: COIN) has announced its decision to stop issuing loans through its Coinbase Borrow service where Bitcoin (BTC) has been serving as collateral. Starting from May 10,...

While inflation may be slowing, Americans are groaning under the direct and indirect impact of the Fed increasing the interest rate. The US Federal Reserve (Fed) has continued raising the interest rate and on Wednesday increased the rate by another 0.25 percentage point, causing worry about the potential impact. The apex agency has been trying to stem a stubborn rise in inflation and has been increasing the rate consistently. The recent increase is the 10th in about a year and is the...

EOS price is trading in a bearish zone above the $0.98 support against the US Dollar. The price is now trading below $1.05 and the 55 simple moving average (4 hours). There was a break above a major bearish trend line with resistance near $1.015 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could start a recovery wave if it clears the $1.05 and $1.08 resistance levels. EOS price is struggling below $1.08 against the US Dollar, unlike...

Litecoin settled below the $90 resistance zone against the US Dollar. LTC price is now trading below $90 and the 55 simple moving average (4 hours). There is a major contracting triangle forming with resistance near $89.20 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could start a decent increase if it clears the $92 resistance zone. Litecoin price is struggling below $90 against the US Dollar, similar to Bitcoin. LTC price could continue...

Amidst regulatory headwinds back home, the Winklevoss twins have doubled down their efforts to expand Gemini’s offerings to non-US residents. The new service aims to target both retail and institutional traders but will exclude users from UK and EU. Gemini Foundation – the highly anticipated non-US derivatives platform – went live on May 1st for customers in all 29 available jurisdictions, including Singapore, Hong Kong, India, Argentina, Bahamas, Bermuda, British Virgin...

A Democratic presidential candidate is pushing against the growing anti-crypto sentiment within his party by blaming regulatory agencies’ “war on crypto” for various bank failures that transpired in March.  In recent days, environmental lawyer Robert Kennedy Jr. has spoken out against the Biden administration’s general handling of the ongoing banking crisis, opposing the bailout approach used by financial agencies.  The War on Crypto In a tweet on Tuesday, Kennedy backed an...

Europol announced on May 3 the conclusion of Operation SpecTor, which spans through multiple jurisdictions and recently brought down Monopoly Market, another dark market that sprang up after previous ones were hated. Hundreds of Arrests and Seizures According to a press release published early this morning, Europol coordinated authorities across the U.S., Austria, France, Germany, the Netherlands, Poland, Brazil, Switzerland, and the U.K. to unravel the threads exposed by the...

Druk Holding & Investments – the investment arm of the Royal Government of Bhutan – partnered with the Nasdaq-listed company – Bitdeer Technologies Group – to introduce a $500 million fund that should support bitcoin mining activities in the Himalayan country. Recent sources suggested that the nation might have been secretly producing BTC since 2017, using its vast amount of hydropower.  Bhutan’s Mission to Become a BTC Mining Hub The government of the landlocked country...

The Federal Reserve announced another small increase to its benchmark rate on Wednesday, bringing it between 5% and 5.25%.  Bitcoin’s price remained relatively flat on the announcement, fluctuating between $28,000 and $28,500.  The increase was largely in line with expectations, with the market only pricing in an 11.8% chance that the Federal Open Markets Committee (FOMC) would keep its rate flat, per the CME FedWatch tool.  The central bank has been increasing its interest...

Now that 2023 has arrived, bitcoin has found fresh ground following the ongoing banking crisis that has led to the closure of institutions like Silvergate, Silicon Valley Bank, and Signature. Bitcoin Could Do Even Better Many analysts and crypto industry heads believe this banking crisis is going to continue now that Deutsche Bank is at the helm of controversy, and with heavy regulatory issues in play, bitcoin – they believe – could be poised for a solid breakout in the...