Markets

In a new report, the Financial Stability Oversight Council (FSOC), a regulatory panel comprising leading financial regulators, identified areas in crypto regulation with: limited oversight of the spot market for tokens that are not securities; opportunities for regulatory arbitrage, or benefit favorable rules; if crypto firms should be allowed to integrate multiple services traditionally offered by intermediaries, such as broker-dealers and clearing houses. More Power to Top...

A report published in mid-September showed inflation was (what a surprise) higher than expected, and bitcoin took serious heat for it. The world’s number one digital currency by market cap fell into the low $20,000 range not long after and lost about $2,000 off its price. Inflation Keeps Getting Worse This is also bad news in the sense that as inflation continues to remain high, the Federal Reserve will likely stay aggressive and hike rates again. Thus, we can logically...

Bit Panda – a financial technology firm based in Vienna, Austria – has stated that it’s going to be reverting back to the ways of traditional finance (or tradfi) in coming weeks and months and somewhat step away from the cryptocurrency and defi spaces. Bit Panda Wants a More Traditional Route The digital currency arena hasn’t been doing too well as of late. The price of bitcoin, for example, was trading at a new all-time high of about $68,000 per unit in November of last...

ADA price seems to be forming a support base above the $0.415 level against the US Dollar. The price is now trading below $0.45 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $0.425 on the 4-hours chart (data feed via Bitfinex). The price could gain bullish momentum if it clears the $0.435 and $0.440 levels. Cardano price is showing positive signs above $0.410 against the US Dollar, similar to bitcoin....

Ethereum price is showing positive signs above the $1,300 level against the US Dollar. ETH price is now trading above $1,300 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $1,365 on the 4-hours chart (data feed from Coinbase). The pair could rally further if it clears the $1,365 resistance zone. Ethereum price is rising above the $1,300 level against the US Dollar. ETH/USD could rise further if it clears the...

The world’s largest cryptocurrency exchange – Binance – signed a Memorandum of Understanding (MoU) with the Financial Monitoring Agency of the Republic of Kazakhstan. Over the course of the agreement, both parties expressed a mutual interest in creating a safe crypto environment in the Asian country and bringing down financial crime in the area. Binance’s Efforts in Kazakhstan The trading venue revealed its intentions to expand in the Central Asian nation at the beginning of...

Stellar lumen price started a fresh increase above the $0.1100 resistance zone against the US Dollar. XLM price is now trading above $0.1140 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $0.1080 on the 4-hours chart (data feed via Kraken). The pair could continue to rise if it stays above the $0.1160 and $0.1140 support levels. Stellar lumen price is trading above $0.1140 against the US Dollar, similar...

Ripple price started a downside correction below $0.50 against the US dollar. The price is now trading below $0.4800 and the 55 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.4640 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could rise again if it stays above the $0.4200 and $0.4000 support levels. Ripple price is correcting gains from $0.520 against the US Dollar, unlike bitcoin. XRP...

Thailand’s Securities and Exchange Commission (SEC) has accused Bitkub, the country’s largest cryptocurrency exchange, and four other offenders of their alleged involvement in wash trading. The individuals will have to pay a fine of over $600,000. Bitkub Involved in Wash Trading Case? According to a press release on Tuesday (September 27, 2022), the Thai SEC claimed that two individuals – Mr. Anurak and Mr. Sakon Srakawee – carried out wash trading on the Bitkub platform....

Change is in the air as the crypto space continues to see top executives step down from their roles amid the market crisis that stemmed from the Terra Luna fiasco and the Federal Reserve’s continuous interest rate hike, which negatively impacted the global financial market. The change in crypto-related executive leadership started with Twitter co-founder Jack Dorsey stepping down from the company’s board of directors in May. While Twitter is not a crypto-focused firm, Dorsey...