Markets

The world-famous cryptocurrency exchange platform FTX increased its revenue by more than 1,000% during 2021, from $89 million to $1020 million, according to company financial documents leaked to news outlet CNBC. According to the documents, FTX’s net revenues during 2021 grew exponentially to more than $387 million. A significant increase compared to the $14 million it made in 2020. The Crypto Winter is a Billion Dollars Opportunity In 2022, the company has continued its hot...

The U.S. Treasury is doing additional research on crypto. The organization is looking to study the benefits, risks, and disadvantages that come with the space to align itself with the recent crypto executive order issued by “sleepy” Joe Biden. The Treasury Wants to Know About Crypto The crypto executive order came about several months ago. Biden garnered temporary praise for being the only acting president to engage in pushing crypto regulation, though this praise...

What needs to happen for the crypto market to finally bottom out? When Will Crypto Finally End Its Own Destruction? This is a question that is ringing in the ears and minds of analysts and industry heads everywhere, and the sentiment is that there needs to be a few things. The first is improvement in macroeconomic factors. Things like inflation need to subside, and the economy and the stock market also need to show signs of fixing themselves fast. Analysts also say that...

Could Coinbase lose its position as the number one digital currency exchange in the western hemisphere? Coinbase Is Really Hitting the Bottom The crypto exchange is often cited as one of the largest and most popular crypto trading companies in the world. It was also the first digital currency exchange to ever go public, first joining the Nasdaq in April of last year. Things were looking up for the exchange, and many felt the company was going to reach a peak unlike...

Bitcoin and Ethereum slumped by double-digit percentages weekly after tapping multi-month highs last weekend. This resulted in over $150 billion gone from the entire market cap. Somewhat expectedly, the Fear and Greed Index has returned to a state of fear, but BitMEX’s co-founder – Arthur Hayes – believes this retracement could be an opportunity to stack up. Time to Buy, Says Hayes In its latest Twitter thread on the price actions in the crypto market, the former BitMEX...

Bitcoin’s recent nosedives continued in the past 24 hours, and the asset slipped to a new three-week low of under $21,000. Ethereum is in a similar position, having lost another $100 daily. At the same time, Shiba Inu is among the few alts well in the green. Bitcoin Sees New Low The landscape was looking rather bright for the primary cryptocurrency until five days ago. At that point, it had skyrocketed to above $25,200, which was a two-month high. However, it couldn’t stay...

Binance’s US subsidiary announced receiving its Money Transmitter License from the Nevada Department of Business and Industry, Financial Institutions Division. The latest move is part of the company’s plans to offer its fully regulated services in all of America’s 50 states and territories. Speaking about the license approval, Brian Shroder, Chief Executive Officer of Binance US, said, “We continue to take the necessary steps to ensure we are operationally compliant across...

The Securities and Exchange Commission of Thailand (Thai SEC) has asked crypto investors in the country to be careful with DeFi transactions, terming them risky. The watchdog argued that local regulators have no control over the up-and-coming industry. Popular but Not Full-Proof In a statement on Wednesday, the financial and capital markets watchdog said DeFi services have become popular, especially deposit taking and lending services. But these services are risky as the...

The Internet and Mobile Association of India (IAMAI) has released a statement saying that its Blockchain and Crypto Council (BACC) is now fully dissolved. Apparently, blockchain isn’t that big of a deal within the country. The BACC in India Is Dissolving The BACC was first established in 2017. Things appeared to be booming throughout the last four years, but now that the crypto space is experiencing its harshest bull market to date, regulators have decided that the BACC...

Negative sentiment has dominated the market this week as Ethereum failed to reclaim the $2000 level. The bears are attempting to pull the price back below the breakout level and trap the bulls. Technical Analysis By: Grizzly The Daily Chart The bears stepped in to induce a 16% decline over the past six days after Ethereum was rejected from $2,000. Consequently, the appearance of the rising wedge pattern (in yellow) could be a signal that the bearish trend might extend. The...