Markets

According to the crypto market data provider Kaiko, Bitcoin’s correlation with the S&P 500 Index has dropped to a two-year low at just 3%, highlighting the asset’s increasing independence from traditional finance.  Some experts have argued over the years that such a development could act as a catalyst and push BTC’s price to a new all-time high. As revealed by Kaiko, the last time Bitcoin’s correlation with the S&P 500 Index stood at 3% was in August 2021. 📈👀...

CoinspeakerAlphabet Records Cloud Unit Growth amid Google AI Plans Sundar Pichai revealed that the company was planning to use new AI models to automate some customer services.  Alphabet Records Cloud Unit Growth amid Google AI Plans

An appeal by the U.S. Securities and Exchange Commission (SEC) against Judge Analisa Torres’ ruling on XRP will affirm the decision, according to Stu Alderoty, the chief legal officer (CLO) of Ripple Labs. During an interview with TechCrunch’s Chain Reaction, Alderoty said the judge’s decision was right as it was a “faithful application of the law.” SEC Appeal to Amplify XRP Ruling Recall that the SEC hinted at a potential appeal to Judge Torres’ decision about a week after...

CoinspeakerUK Judge Asks Craig Wright to Pay Over Half-Million Dollars in Case against Coinbase, Kraken The UK Judge said that Craig Wright won't be able to pay the legal costs while mentioning his previous inconsistent statements about his financial position.  UK Judge Asks Craig Wright to Pay Over Half-Million Dollars in Case against Coinbase, Kraken

CoinspeakerStellantis Sets New Pace with Top Performance in H1 2023 Stellantis reaffirmed its 2023 guidance and raised its growth outlook for Europe, the Middle East, and Africa from 5% to an impressive 7%. Stellantis Sets New Pace with Top Performance in H1 2023

CoinspeakerNBA Star Jimmy Butler Seeks Dismissal from $1B Binance Class Action Lawsuit The NBA star's involvement in Binance's marketing campaign drew significant attention, considering his status as a prominent figure in professional basketball. NBA Star Jimmy Butler Seeks Dismissal from $1B Binance Class Action Lawsuit

Solana price gained bearish momentum below the $28.00 level against the US Dollar. The price is now trading below $25 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $25.00 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair could recover, but upsides might be limited above the $25 resistance. Solana price is trading in a bearish zone below $25 against the US Dollar, similar to...

Bitcoin price started a fresh decline below the $30,000 pivot level against the US Dollar. The price is now trading below $29,500 and the 55 simple moving average (4 hours). There is a connecting bearish trend line forming with resistance near $29,600 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could extend its decline toward the $28,500 and $28,000 levels. Bitcoin price is declining below $29,500 against the US Dollar. BTC might...

Bahrain-headquartered crypto exchange Rain announced receiving the first Financial Services Permission (FSP) from Abu Dhabi Global Market’s Financial Services Regulatory Authority to operate a virtual assets brokerage and custody service. The license would enable Rain to offer institutional and retail clients in the UAE the ability to buy, sell and store digital assets. The brokerage will also allow users to on- and off-ramp to the UAE dirham. Announcing the development, Rain...

The world’s largest cryptocurrency exchange – Binance – will purportedly launch services on its new platform in Japan next month.  The firm pulled out of the Land of the Rising Sun in 2018 after having a major dispute with the local regulators.  Binance’s CEO – Changpeng Zhao (CZ) – has supposedly confirmed the news in a video conference in Tokyo on July 25 (as seen by Bloomberg). The exchange previously announced that it will start operating on the Japanese market after June...