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Tether is gearing up for the launch of a US stablecoin potentially by the end of this year, according to reports by CNBC. The popular cryptocurrency stablecoin issuer plans to introduce a digital asset tied to the US dollar, enhancing its existing offerings in the market. This move comes as the demand for stablecoins continues [...]
The post Tether Aims to Launch US Stablecoin in 2021: CNBC appeared first on Crypto Breaking News.
In a recent critique of mainstream financial media, Peter Schiff criticized CNBC for its excessive attention on Bitcoin and the newly launched Bitcoin ETFs, overlooking significant developments in the gold market. Despite Bitcoin grabbing headlines, Schiff contends that a substantial $43 rise in gold prices and the record-breaking price of the gold ETF, GLD, were […]
On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international [...]
The post French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud appeared first on Crypto Breaking News.
Michael Saylor, the founder of MicroStrategy Incorporated and a vocal supporter of Bitcoin (BTC), remains optimistic about the future of the premier digital currency. In a recent interview with CNBC, Saylor emphasized the increasing support for BTC and outlined his belief in a BTC-centric future. Saylor pointed out that BTC has received unprecedented endorsement from […]
The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central [...]
The post US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision appeared first on Crypto Breaking News.
The lawyers didn’t specify the date or time when the incident took place, and claimed that security personnel was unable to get the license plate details.
The Bitcoin price has once again fallen below the $17,000 mark after it became known that the auditing firm Mazars will pause its work with Binance. Already in the last few days, rumors and FUD about Binance intensified. As NewsBTC reported, investors are worried that Binance is not keeping enough reserves on hand for all their client funds. The impetus for the outcry was a proof-of-reserves conducted by Mazars that raised numerous new questions instead of answering the old ones. Remarkably, the auditing firm worked not only with Binance but also with other cryptocurrency exchanges such as Crypto.com and KuCoin to attest to proof-of-reserves. Related Reading: Bitcoin Price Prediction: Why BTC Could Still Tumble Below $16K An email to Binance now indicates that Mazars is pausing all work for crypto clients. “Unfortunately, this means that we will not be able to work with Mazars for the moment,” a Binance spokesperson said. Binance Rumors Are Dragging Down Market Sentiment The crypto market is not settling down after the collapse of FTX. Rumors of insufficient backing of client funds by Binance, Tether (USDT), and Digital Currency Group’s troubles as a result of Genesis Trading’s liquidity problems hang over the crypto market like a sword of Damocles. Binance CEO Changpeng Zhao had tried to mitigate the turmoil several times in recent days. Thus, he took questions from the community in an AMA and appeared in an interview on CNBC. Related Reading: Bitcoin Miner Capitulation Is An Exaggerated Fear, Analyst Claims When asked if Binance would be able to pay out $2.1 billion if that amount was due. CZ said, “We are financially okay. We are financially strong.” The Binance CEO was also asked why the company has not yet disclosed its liabilities and whether the exchange plans to do so. CZ said: We are working with the audit firms to audit the financial liabilities. [..] Audits don’t reveal any problem. CNBC anchors interrupted CZ and made the claim that an audit by one of the Big Four could put all the rumors to rest. “When you say that some of them don’t want to work with you, that raises questions! They don’t want to work with you because you don’t have the documentation and data that would make them feel comfortable”, they said. CZ, for his part, refuted this statement and claimed that “actually many of them do not know how to audit crypto exchanges.” Binance CEO CZ on CNBC: Many big four firms do not know how to audit crypto exchanges. pic.twitter.com/r3C15cMwbK — unusual_whales (@unusual_whales) December 15, 2022 Bitcoin Price Plunges Below $17,000 The interview has in no way helped to calm the crypto market, especially since CZ was also unable to provide a satisfactory response via Twitter in the aftermath. CZ only retweeted the following and stated in his newest tweet that “Blockchains are public, permanent records. It’s the most auditable ledger.” The pausing of the collaboration with Mazars also puts the interview in a bad light. Mazars has not yet communicated why it has paused cooperation with Binance and the other crypto exchanges, other than that the term “audit” would be used falsely. Bitcoin investors have taken the interview overwhelmingly bearish. Within the last six hours, the Bitcoin price has lost around $500 and was at $17,004 at press time.
The crypto market is currently undergoing a series of unfortunate events. From the crash of stablecoin Terra to the fall of Celsius, it has been a gloomy year for crypto investors. More recently, the capitulation of the Bankman-Fried-led popular exchange FTX has further amplified this negative trend. In addition, exchanges like Gemini and Coinbase have laid off a significant chunk of their workforce. Related Reading: For First Time Ever, Bitcoin Hash Ribbon Golden Cross Has Failed According to Glassnode reports, the collapse of FTX has led to one of the largest; deleveraging events in the history of crypto. As a result, the market has dipped in recent weeks. Glassnode emphasized the size of losses felt by all market players in the deleveraging event. In the long term, this forced-priced flush-out might prove beneficial to the prices of assets. However, Glassnode also believes that a capital reset is at hand. How Is The Crypto Market Faring? With current events, the crypto market has pulled back 1.1%. The total market capitalization stands at $892 billion. With the fear and uncertainty high in the market, resistance levels will be tough to break through for any asset. Most altcoins have maintained neutrality today- neither posting significant gains nor losses. Bitcoin is close to the $17,000 level retracing from $17,400 in less than 24 hours; Ethereum has pulled back 2%, retreating to the $1,266 level. The crypto market is generally downtrend today with a reduction in market capitalization. Record Breaking Capitulation Two massive capitulations reshaped the crypto space in 2022. The events; occurred in June and November. The FTX saga led to a loss of $4.43 billion in one day. Terra’s capitulation caused a deficit of $700 million in 14 days as investors withdrew their capital in droves. Glassnode compared the ratio of realized profits to realized loss, with the latter outstripping the former. As per the data, these losses were fourteen times larger than the gains in the market. According to historical data, previous ratio lows of similar effect occurred at the cycle of bottoms. Again, this pattern was observed – in the 2011,2015, and 2018 bear markets. Related Reading: Bitcoin Now Undervalued For 170 Days, How Does This Compare With Previous Bears? After these significant losses, a trend shift occurred after each bear market – leading to a bull market in all three years. Glassnode stated that the size of the losses had reduced in recent weeks after the crypto flush-out. The prices will likely consolidate – in the coming months before a significant trend reversal. According to CNBC’s Jim Cramer, investors need to cash out on crypto while they can. However, with the recent event that has created a negative impression on crypto investment, Cramer emphasized that the decision be made sooner rather than later. How investors will react to the flush-out, and its resultant effects remains a mystery. Featured Image From Pixabay, Charts From Tradingview.com
Galaxy Digital’s CEO Mike Novogratz talked to Andrew Ross Sorkin on CNBC’s Squawk Box and gave his reaction to Sam Bankman-Fried’s (SBF) recent New York Times (NYT) Dealbook Summit interview. Novogratz said that SBF was “delusional” and insisted that the former FTX CEO needs to be prosecuted and further said, “he will spend time in
The post SBF Was ‘Delusional,’ Will ‘Spend Time in Jail’ Says Galaxy’s Mike Novogratz — ‘He Needs to Be Prosecuted’ appeared first on BTC Ethereum Crypto Currency Blog.
Speaking on CNBC’s “Closing Bell” Thursday, Blockchain.com CEO Peter Smith deemed the collapse of crypto exchange FTX as “a tragedy and total failure of governance.” (Read More)
Crypto investors on Twitter are lambasting the CNBC host over his Coinbase call. Following a spike in Coinbase’s stock (COIN) a week after Jim Cramer suggested that the San Francisco exchange could be probed, the popular CNBC host is being lambasted across various social media platforms. Recall that on July 26, 2022, Jim Cramer […]
The post “If Jim Cramer Recommends Next Amazon Stock, I’ll Never Buy!” Users Drag CNBC Host Over His Coinbase Call appeared first on The Crypto Basic.
Rumors of a BlockFi sale for a paltry $25 million are swirling around the internet. CEO Zac Prince responded to the claim… FTX closes in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale https://t.co/9uRESw9KCt — CNBC (@CNBC) June 30, 2022 Kate Rooney of CNBC reported earlier today […]
The post BlockFi CEO Responds To Rumors They Sold For $25 Million appeared first on CryptosRus.
Cryptocurrency companies boosted the sponsorship revenue of the NBA to a record $1.6 billion. The figure is up 14.28% from ...
Like ConstitutionDAO, BuyTheBroncos has captured the hearts and minds of America. Every one is hoping for the underdog to finally come through. But there is one big problem… Covered: BuyTheBroncos DAO The NFL’s Ownership Rules BuyTheBroncos DAO @BuyTheBroncos dm me, we can make this happen. Green bay 2.0 — Sean Bucher (@spbucher) February 20, 2022 […]
The post There Is One Big Problem With The BuyTheBroncos DAO appeared first on CryptosRus.
Thomas (Tom) Lee, the founder of Fundstrat Global Advisors, believes that a hike in interest rates will be a game-changer for crypto because other investments like bonds will become less attractive. (Read More)
Analysts say record high inflation in the United States is impacting crypto market momentum, but is the impact of the data overstated to the detriment of investors?
Despite an abysmal January jobs report, a world-renowned crypto YouTuber is making the bullish case for Bitcoin and crypto. Covered: CNBC Jobs Report Why Is This Good For Bitcoin? The crypto markets are teetering on the edge of uncertainty amid a backdrop of macroeconomic concerns. Despite a bleak outlook on the current labor market, however, […]
The post Low January Jobs Report Is Actually Bullish For Bitcoin. Here’s Why. appeared first on CryptosRus.
Sponsorship deals have become part of the measures that crypto-related companies employ in widening the knowledge and acceptance of cryptocurrency, one of the recent deals in the Australian Football League (AFL) and Crypto.com. Most of these sponsorships have been on sporting teams, with more football and basketball. This deal comes as the number 1 primary crypto sports sponsorship for AFL as this deal with Crypto.com will be backing its women’s league (AFLW). The sponsorship deal, about $25 million, is expected to last for five years. It depicts an increase from the current $18.5 sponsorship contract AFL has with Toyota. Related Reading | Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block This Crypto.com partnership with AFL represents its first sponsorship for an Australian sports team. Also, it stands as the initiating move from the crypto exchange in supporting an elite women’s sports competition globally. Reacting to the milestone created by the sponsorship, Kylie Rogers confirmed that she is proud to be a part of it. The general manager said that the AFL is proud of receiving the honor as the first Australian Sports league and the global elite women’s competition to partner with Crypto.com. She stressed their excitement in working with a company with the same passion. And for the progress and sustainability of elite sports and technology. Reason Behind Sponsorship Deal With Crypto.Com Karl Mohan, the general manager of Asia and Pacific of Crypto.com, is on his part. He revealed that his company’s attraction came from the high volume of interested women in cryptocurrency. Mohan stated that their latest research on their Australian customers revealed female investors in cryptocurrencies were over 53%. The general manager mentioned that such a discovery is quite encouraging. According to Mohan, this indicates that crypto adoption in Australia cuts across all levels without any inhibition from either gender or background. So, Crypto.com is pleased to serve as their beck-on-call platform for any of their crypto-related activities. In August, a survey from CNBC disclosed that women’s participation in crypto investments is far below half of their male counterparts. The report indicated that while 16% of men were involved, only 7% were recorded. The Singapore-based crypto exchange, Crypto.com, provides many crypto services to its customers. These include digital wallets, crypto-backed debit cards, and others. In addition, the crypto exchange has had several sponsorships deals from sports brands within the past few months which amounts to more than $1.5 billion. Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means Crypto.com, in June ending, bagged a $100 million sponsorship deal with Formula 1. This was followed closely with its July partnership with the UFC worth over $175 million. Furthermore, mid-November saw the company with a new agreement of renaming the Staples Center in Los Angeles to the Crypto.com Arena. The deal worth over $700 million is expected to cover the next 20 years. Featured image from Pixabay, chart from TradingView.com
Speaking on an interview Wednesday, Hong Fang, the CEO of crypto exchange OKCoin, opined that Bitcoin reaching $100,000 would not be a problem in the long term. (Read More)
About 20% of the world’s bitcoin miners are estimated to still operate from Chinese soil.
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