Crypto news

Bitcoin cash is eyeing a fresh rally above the $300 resistance against the US Dollar. The price is now trading above the $260 zone and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $289 on the 4-hour chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $290 and $300 to continue higher in the near term. Bitcoin cash price is consolidating gains above $260 against the US Dollar, unlike...

A slew of senior executives at Binance are reportedly fleeing en masse as the company grapples with a massive lawsuit from the Securities and Exchange Commission (SEC) and a Justice Department investigation into its CEO Changpeng Zhao (CZ). One executive – former Chief Strategy Officer Patrick Hillman – has already confirmed his departure. Chaos In Binance’s Ranks? A report from Fortune on Thursday claimed that general counsel Han Ng and SVP for Compliance Steven Christie...

Gauntlet, a decentralized finance (DeFi) risk management entity, seems to be facing some backlash on its latest proposal on the Aave governance forum after it was accused of fixing in elements of a previous one that was voted down by the community. The proposal in question seeks to mitigate the risks regarding a loan tagged to Curve Finance founder Michael Egorov. Egorov’s $64 Million Loan Draws Attention Again A member of the Aave community, Marc Zeller, opposed one proposal...

Cryptocurrency exchange Bitfinex has recovered some of the funds it lost after being hacked in August 2016. The recovered assets will be used to compensate holders of the exchange’s Recovery Right Tokens (RRTs), which were issued to impacted creditors after the security breach. How Much Was Recovered? As announced by Bitfinex on Thursday, the United States Department of Homeland Security (DHS) has returned $312,219.71 in cash and 6.917 in Bitcoin Cash (BCH) accumulated from...

OpenAI has disabled Browse With Bing, the internet surfing feature available to ChatGPT Plus users.  In a tweet thread, OpenAI reasoned that the Browse feature can occasionally produce results in a manner that it doesn’t want it to. Straying Into Protected Content   “We’ve learned that ChatGPT’s “Browse” beta can occasionally display content in ways we don’t want, e.g. if a user specifically asks for a URL’s full text, it may inadvertently fulfill this request. We are...

There’s no respite for BlockFi as the bankrupt crypto lender struggles to pay its creditors and customers. BlockFi has brought forward several proposals since sliding into bankruptcy last year owing to the market turmoil. However, FTX’s latest legal filing poses a hurdle for the now-defunct company as it accuses BlockFi of abusing the planning process. FTX said that the newly proposed plan attempts to avoid substantial claims against BlockFi. “Yet the BlockFi Debtors believe...

The memecoin resurgence appears to have faded, but that has not stopped the Shiba Inu token (SHIB) from stealing some of the limelight. On July 5th, SHIB was one of the tokens accounting for the highest transaction fees, which was indicative of a surge in activity around it. Recent data suggest that the SHIB network has recorded significant growth. Another underlying trend that supports the bullish narrative is that the asset’s supply on exchanges is hovering close to the...

Ripple’s price action has been choppy lately, especially against USD. Against BTC, though, things are looking interesting in the short term. Technical Analysis By: Edris XRP/USDT Daily Chart: Against USD, the price has been consolidating in a narrow range between $0.45 and $0.5. The 50-day moving average, currently around $0.5, is currently pushing the cryptocurrency lower. If XRP drops toward the $0.43 level, the 200-day moving average near that price is expected to provide...

Bitcoin has been struggling to surpass the significant resistance region of $30K for some time now, despite an overall bullish outlook. Recent price movements have shown bearish signals that could potentially lead to a short-term reversal. Technical Analysis By Shayan The Daily Chart Bitcoin’s bullish rally has come to a halt upon reaching the crucial resistance region of $30K. This price range holds significant psychological resistance and has acted as a major barrier to the...

After surpassing the 100-day moving average and retracing in the form of a pullback, Ethereum’s price initiated a rally that reached the resistance level of $2K. However, it has now temporarily paused, resulting in a consolidation phase around this crucial resistance. Technical Analysis By Shayan The Daily Chart Ethereum’s price successfully broke above the 100-day moving average and the upper trendline of the descending channel, subsequently retesting them during a pullback....