Crypto news

CoinspeakerShell Reports 55% Plunge in Q2 2023 Profit as Commodity Prices Decline Shell is struggling with a continuous fall in profits as Q2 2023 figures show significant reductions compared with last quarter and Q2 2022. Shell Reports 55% Plunge in Q2 2023 Profit as Commodity Prices Decline

EOS price started a fresh decline from the $0.80 zone against the US Dollar. The price is now trading below $0.765 and the 55 simple moving average (4 hours). There was a break below a key bullish trend line with support near $0.767 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could continue to decline if it stays below the $0.760 and $0.780 resistance levels. EOS price is struggling below $0.760 against the US Dollar, like Bitcoin....

Litecoin is slowly moving higher from the $88 support against the US Dollar. LTC price is now trading below $92 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $92.00 on the 4-hour chart of the LTC/USD pair (data feed from Coinbase). The pair could gain bullish momentum if it clears the $92 and $95 resistance levels. Litecoin price is recovering from the $88 zone against the US Dollar, similar to Bitcoin....

U.S. Congress undertook its first-ever markup for digital asset legislation on Wednesday, attempting to establish clear jurisdiction for the nation’s chief market regulators. The bill was not well received by Democrats, however, many of whom find it overly friendly to the crypto industry, and similar to what disgraced FTX boss Sam Bankman-Fried had advocated for. Democrats Blast Crypto Bill During the hearing, House Financial Services Committee (HFSC) Chair Patrick McHenry...

On July 25, Avalanche stated that it was on a mission to “pioneer the future of asset tokenization.” Tokenization is poised to be one of the most impactful blockchain innovations of the next decade, it stated. Today, the Avalanche Foundation introduces Avalanche Vista, a $50M initiative to pioneer tokenization on #Avalanche Tokenization is poised to be one of the most impactful blockchain innovations of the next decade, and Avalanche is uniquely equipped to power these...

Blockchain security company Quantstamp has agreed to pay ~$3.5 million in fines to settle charges against it from the U.S. Securities and Exchange Commission (SEC) on Friday – without confirming or denying allegations. The settlement marks another successful crackdown from the agency against a crypto company for violating securities laws, which industry leaders say lack clarity regarding how they apply to digital assets. Another SEC Legal Attack The SEC’s charges – announced...

The market capitalization of the largest stablecoin – USDT – recently tapped an all-time high of $83.76 billion (according to the crypto analysis firm IntoTheBlock). Other data aggregators, though, showed that the asset had increased well beyond that level earlier this month. Stablecoins have performed quite well lately, and USDT continues to dominate the entire field. The combined market capitalization of the six biggest such tokens spiked last month to almost $125 billion....

The Federal Reserve rose its target interest rate by 25 basis points on Wednesday, in line with market expectations. This brings the central bank’s rate to over 5.25% – one of its highest levels since the lead-up to the 2008 financial crisis. The latest hike marks the Federal Reserve’s 11th rate hike over its last 12 policy meetings dating back to March 2022. The central bank’s mission over the past year has been to quell once rampant inflation, which peaked at 9.1% in June...

Earlier today, we put out a news story talking about a16z. The venture capital firm has lots of big blockchain-related plans including opening a new crypto school aimed at garnering funds for blockchain startups, setting up a new office in London, and continuing its funding of blockchain businesses. a16z Helps Gensyn Move Forward This new article has to do with the latter, as recently, a $43 million funding round was secured by a16z for a new blockchain company...

Bitcoin whales typically capture the stagnant market conditions to accumulate more coins. This trend continued even during the underwhelming price performance of Bitcoin in recent months, as new analysis suggests a dramatic uptick in whale activity during the period. Glassnode’s latest edition of “The Week On-Chain,” observed that the aggregate Whale balance has declined by approximately 255k BTC since May 30. This was found upon isolating coins flowing between Whale entities...