Crypto news

EOS price started a downside correction from the $1.200 resistance against the US Dollar. The price is now trading below $1.15 and the 55 simple moving average (4-hours). There was a break below a key bullish trend line with support near $1.150 on the 4-hours chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to move down if it stays below the $1.150 and $1.20 resistance levels. EOS price is declining from $1.200 against the US Dollar, similar...

Litecoin started a steady increase above $78 against the US Dollar. LTC price is now trading above $85 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance at $85 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase). The pair could gain bullish momentum if it clears the $88 and $90 resistance levels. Litecoin price is showing positive signs above $85 against the US Dollar, similar to bitcoin. LTC...

The Securities and Exchange Commission (SEC) is prepping for official enforcement action against Coinbase – America’s largest cryptocurrency exchange – for selling unregistered securities.  The agency issued a Wells Notice against the exchange on Wednesday, following a slew of other investigations and lawsuits launched against Coinbase’s competitors in recent months.  Coinbase VS SEC In an SEC filing, Coinbase explained that the Wells Notice warned of violations of Federal...

The Brazilian market welcomes Coinbase, the latest global crypto exchange to enter the country, willing to compete with other established giants, such as Binance, Mercado Pago, and Nubank, which have been operating in Brazil for years and have a massive number of users.  On March 21, Coinbase, the US-based cryptocurrency exchange, announced its expansion into Brazil through a series of updates that will streamline user transactions.  According to the announcement, the...

The authorities of the United States pressed charges against Irina Dilkinska (who served as Head of Legal and Compliance at OneCoin) for her alleged role in the infamous crypto scam and deported her from Bulgaria to the US. She could receive a maximum potential prison sentence of 20 years for allegedly committing wire fraud and additional 20 years for supposedly violating money laundering laws. A Possible Jail Time for Another OneCoin Member In a recent press release, the US...

The Council fo Economic Advisors showed outright disregard for the purported benefits of Bitcoin and other cryptocurrencies in the President’s Economic Report released on Tuesday.  The report claimed that cryptocurrencies lack fundamental value, and also do not “act as effective alternatives to money.” Crypto: Expectations VS Reality The White House report included two dedicated sections pertaining to digital assets: one titled “The Perceived Appeal of Crypto Assets,” and the...

Despite fears surrounding the US banking sector, the Fed has followed through on its plans to quell inflation with an interest rate hike of 25 basis points on Wednesday. The decision notably affected the price of Bitcoin, which pumped $300 within 5 minutes of the announcement. Bitcoin started the day trading at $28,216, before rising to $28,417 ahead of FOMC.  The asset then broke upwards to $28,752 following the interest rate decision. It trades for $28,480 at writing...

Irrespective of its current leanings, the Federal Reserve will implement additional rate hikes to correct the strain that is still being felt in the economy by the average consumer. The United States Federal Reserve through the Open Market Committee (FOMC) has increased its interest rate by 25 basis points (0.25%). The rate hike was as expected and it was implemented despite the recent bank failures that have caused a crisis of confidence in the financial sector. The days leading up to...

No doubt the FTX debacle and the arrest of its founder and chief executive Sam Bankman-Fried will go down as some of the biggest problems to ever strike the crypto space, but according to a new report, it appears the damage caused by FTX and its irresponsible (and selfish) employees may have been even greater than what analysts initially thought. The Trouble Surrounding FTX Might Have Done More Damage The document in question suggests that as much as $200 billion was...

Multi-chain non-fungible token (NFT) marketplace Magic Eden has launched a “fully audited” marketplace on the Bitcoin network as interest in Ordinal NFTs continues to grow. In a press release, Magic Eden said it released the marketplace in honor of Bitcoin’s culture. Riding on the “lightning pace of adoption” that followed the launch of the Ordinal theory, the platform aims to empower collectors and creators, giving them access to appropriate tools. Magic Eden Catches Ordinal...