Kenyan Central Bank Says It’s ‘Craziness’ to Convert Country’s Reserves to Bitcoin
The Kenyan central bank governor Patrick Njoroge has described as “craziness” the calls to convert Kenya’s reserves into bitcoin. He added that he would have to be out of his mind before agreeing to this. Njoroge argued that cryptocurrencies like bitcoin are not only volatile, but are hardly solving any problem.
CBK Governor Says Converting Kenya’s Reserves to Bitcoin Deserves a Jail TermThe Central Bank of Kenya (CBK) governor, Patrick Njoroge, has described the idea of putting the country’s reserves into bitcoin as “craziness.” Njoroge, who was addressing recently elected members of Kenya’s legislature, added that if it occurred that he agrees to convert Kenya’s reserves to bitcoin, he should be jailed and the keys to his prison cell must be thrown away.
Under Njoroge’s stewardship, the CBK has issued statements and advisories warning Kenyan residents against trading or investing in cryptocurrencies. For instance, Bitcoin.com News reported in June 2022 that Njoroge, together with the Central Bank of Nigeria (CBN) deputy governor Kingsley Obiora, had cited cryptocurrencies’ volatility as one of the reasons why they cannot become a widely used payment method.
The Kenyan central bank governor Patrick Njoroge has described as “craziness” the calls to convert Kenya’s reserves into bitcoin. He added that he would have to be out of his mind before agreeing to this. Njoroge argued that cryptocurrencies like bitcoin are not only volatile, but are hardly solving any problem.
CBK Governor Says Converting Kenya’s Reserves to Bitcoin Deserves a Jail TermThe Central Bank of Kenya (CBK) governor, Patrick Njoroge, has described the idea of putting the country’s reserves into bitcoin as “craziness.” Njoroge, who was addressing recently elected members of Kenya’s legislature, added that if it occurred that he agrees to convert Kenya’s reserves to bitcoin, he should be jailed and the keys to his prison cell must be thrown away.
Under Njoroge’s stewardship, the CBK has issued statements and advisories warning Kenyan residents against trading or investing in cryptocurrencies. For instance, Bitcoin.com News reported in June 2022 that Njoroge, together with the Central Bank of Nigeria (CBN) deputy governor Kingsley Obiora, had cited cryptocurrencies’ volatility as one of the reasons why they cannot become a widely used payment method.
Sen. Warren Addresses Gary Gensler About Ex Gov. Officials Employed Within Crypto Companies
A group of concerned U.S lawmakers has penned a letter to several of the country’s financial regulatory agencies, seeking information on the “revolving door” between the agencies and the crypto industry.
The letter, signed by Sen. Elizabeth Warren, Sen. Sheldon Whitehouse, Rep. Alexandria Ocasio-Cortez, Rep. Jesús G. “Chuy” García, and Rep. Rashida Tlaib, has pointed out the millions of dollars invested by crypto firms into lobbying efforts in a bid to secure favorable legislation and regulations.
A group of concerned U.S lawmakers has penned a letter to several of the country’s financial regulatory agencies, seeking information on the “revolving door” between the agencies and the crypto industry.
The letter, signed by Sen. Elizabeth Warren, Sen. Sheldon Whitehouse, Rep. Alexandria Ocasio-Cortez, Rep. Jesús G. “Chuy” García, and Rep. Rashida Tlaib, has pointed out the millions of dollars invested by crypto firms into lobbying efforts in a bid to secure favorable legislation and regulations.
Brian Armstrong Says He Was Wrong About BTC
In a recent interview, Brian Armstrong – the CEO of popular digital currency exchange Coinbase – commented that he “overestimated” bitcoin as a hedge against inflation, and he’s learning now – like so many other traders – that bitcoin is not yet ready or mature enough to handle the hard-hitting economic factors that the country has been facing over the last year and a half.
Brian Armstrong Says He was Incorrect About CryptoIn a podcast discussion, Armstrong commented:
Frankly, I’ll admit, I overestimated the chances that bitcoin would be this inflation hedge in this macro environment. I thought it might draw more attention to bitcoin in this kind of environment, but it looks like we’re a little too early.
In a recent interview, Brian Armstrong – the CEO of popular digital currency exchange Coinbase – commented that he “overestimated” bitcoin as a hedge against inflation, and he’s learning now – like so many other traders – that bitcoin is not yet ready or mature enough to handle the hard-hitting economic factors that the country has been facing over the last year and a half.
Brian Armstrong Says He was Incorrect About CryptoIn a podcast discussion, Armstrong commented:
Frankly, I’ll admit, I overestimated the chances that bitcoin would be this inflation hedge in this macro environment. I thought it might draw more attention to bitcoin in this kind of environment, but it looks like we’re a little too early.
Crypto Payments Firm Wyre To Shut Down After Missing Out on $1,500,000,000 Deal: Report
A crypto payments firm is reportedly shutting down after a massive $1.5 billion deal fell through.
According to a new report by Axios, crypto payments company Wyre is shutting down after Bolt Financial, a software development firm, went back on its deal to acquire the platform.
It isn’t clear whether Wyre’s shutting down is related to the deal falling through.
A crypto payments firm is reportedly shutting down after a massive $1.5 billion deal fell through.
According to a new report by Axios, crypto payments company Wyre is shutting down after Bolt Financial, a software development firm, went back on its deal to acquire the platform.
It isn’t clear whether Wyre’s shutting down is related to the deal falling through.
Bit2Me Debit Card Launch Gives Users up to 9% Cashback on All Purchases
Bit2Me, the biggest Spanish exchange, and the first company to be recognized as a virtual service provider by the Bank of Spain has just launched a long-awaited debit card. The Bit2Me debit card works across the entire Mastercard network, enabling both crypto-stablecoin payments across more than 90 million global businesses and up to 9% cash back on all payments.
The Bit2Me card can also be used in-store & online using NFC-enabled mobile devices, such as smartphones and smartwatches. Right now the card can be linked to 8 top cryptocurrencies with more to follow. Users can pay securely for goods and services with Bit2Me’s B2M, BTC, ETH, ADA, XRP, SOL, DOT, and USDT.
Bit2Me, the biggest Spanish exchange, and the first company to be recognized as a virtual service provider by the Bank of Spain has just launched a long-awaited debit card. The Bit2Me debit card works across the entire Mastercard network, enabling both crypto-stablecoin payments across more than 90 million global businesses and up to 9% cash back on all payments.
The Bit2Me card can also be used in-store & online using NFC-enabled mobile devices, such as smartphones and smartwatches. Right now the card can be linked to 8 top cryptocurrencies with more to follow. Users can pay securely for goods and services with Bit2Me’s B2M, BTC, ETH, ADA, XRP, SOL, DOT, and USDT.
FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders
According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities.
FTX’s $6.8 Billion GapThe FTX debtors have released a third presentation that provides an overview of FTX’s debts and liabilities. The presentation reveals that, while a significant amount of money is owed to customers, FTX and its few subsidiary firms also owe funds to certain vendors, counterparties, and unpaid invoices. Some of the vendors include Margaritaville Beach Resort owned by Jimmy Buffett, Amazon Web Services (AWS), Fairview Asset Management, Stripe, Meta, Trulioo, Spotify, Turner Network Television, and American Express.
Advisers concluded that when FTX filed for bankruptcy, the more than 100 companies under its umbrella had a $6.8 billion gap in their balance sheet. Approximately $4.8 billion of this amount is against a colossal $11.6 billion, according to the presentation. FTX US had a shortfall of about $87 million, despite Bankman Fried’s repeated claims that the U.S. subsidiary was solvent. The disgraced FTX co-founder’s quantitative trading firm, Alameda Research, held the “vast majority of third-party loans,” according to the advisers’ notes.
According to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities.
FTX’s $6.8 Billion GapThe FTX debtors have released a third presentation that provides an overview of FTX’s debts and liabilities. The presentation reveals that, while a significant amount of money is owed to customers, FTX and its few subsidiary firms also owe funds to certain vendors, counterparties, and unpaid invoices. Some of the vendors include Margaritaville Beach Resort owned by Jimmy Buffett, Amazon Web Services (AWS), Fairview Asset Management, Stripe, Meta, Trulioo, Spotify, Turner Network Television, and American Express.
Advisers concluded that when FTX filed for bankruptcy, the more than 100 companies under its umbrella had a $6.8 billion gap in their balance sheet. Approximately $4.8 billion of this amount is against a colossal $11.6 billion, according to the presentation. FTX US had a shortfall of about $87 million, despite Bankman Fried’s repeated claims that the U.S. subsidiary was solvent. The disgraced FTX co-founder’s quantitative trading firm, Alameda Research, held the “vast majority of third-party loans,” according to the advisers’ notes.
$FTT Jumps 22% After Tribe Capital Shows Interest In FTX’s Reboot
FTX’s new management led by CEO John Ray III has hinted at the possibility of restarting the bankrupt crypto exchange on several occasions. The potential reboot plan is now drawing fresh interest from Tribe Capital, a venture capital firm that is an existing investor in the exchange. The VC firm is reportedly inclined towards a capital injection to catalyze the restarting efforts.
Tribe Capital may lead a $250 million fundraising round for FTXAccording to a report by Bloomberg, Tribe’s co-founder Arjun Sethi met with the Official Committee of Unsecured Creditors of FTX, earlier this year in January, to discuss an informal proposal related to the reboot plans. This was around the same time when the crypto exchange’s CEO first revealed that the management was exploring restarting the exchange. People familiar with the matter revealed that Tribe is considering leading a $250 million fundraising round for the bankrupt exchange, in addition to pledging $100 million of its own funds.
Tribe Capital’s January proposal reportedly included nearly 9 million customer accounts, FTX US, FTX Australia, FTX Japan, FTX EU, FTX International, and LedgerX. The proposal excluded some crypto assets and a venture capital portfolio, among other things. The VC firm was a venture investor in both FTX’s international platform and its American arm. News of the VC firm’s interest was followed by a statement from the crypto exchange’s Unsecured Creditors Committee. The committee informed its community on Twitter that all options to reboot or sell FTX and associated entities were being evaluated. As of now, there is no official timeline for restarting the exchange.
FTX’s new management led by CEO John Ray III has hinted at the possibility of restarting the bankrupt crypto exchange on several occasions. The potential reboot plan is now drawing fresh interest from Tribe Capital, a venture capital firm that is an existing investor in the exchange. The VC firm is reportedly inclined towards a capital injection to catalyze the restarting efforts.
Tribe Capital may lead a $250 million fundraising round for FTXAccording to a report by Bloomberg, Tribe’s co-founder Arjun Sethi met with the Official Committee of Unsecured Creditors of FTX, earlier this year in January, to discuss an informal proposal related to the reboot plans. This was around the same time when the crypto exchange’s CEO first revealed that the management was exploring restarting the exchange. People familiar with the matter revealed that Tribe is considering leading a $250 million fundraising round for the bankrupt exchange, in addition to pledging $100 million of its own funds.
Tribe Capital’s January proposal reportedly included nearly 9 million customer accounts, FTX US, FTX Australia, FTX Japan, FTX EU, FTX International, and LedgerX. The proposal excluded some crypto assets and a venture capital portfolio, among other things. The VC firm was a venture investor in both FTX’s international platform and its American arm. News of the VC firm’s interest was followed by a statement from the crypto exchange’s Unsecured Creditors Committee. The committee informed its community on Twitter that all options to reboot or sell FTX and associated entities were being evaluated. As of now, there is no official timeline for restarting the exchange.
Ex-Ripple Exec On Why SEC Might Still Defeat Ripple In XRP Lawsuit Amid Unmasking Of Hinman Docs
A former executive at Ripple believes that despite the odds tilting in the blockchain payments firm’s favor, the U.S Securities and Exchange Commission (SEC) could still win the legal battle. This comes after Judge Analisa Torres ruled that William Hinman’s documents are “judicial documents” subject to a strong presumption of public access and denied the SEC’s motion to keep them hidden.
A former executive at Ripple believes that despite the odds tilting in the blockchain payments firm’s favor, the U.S Securities and Exchange Commission (SEC) could still win the legal battle. This comes after Judge Analisa Torres ruled that William Hinman’s documents are “judicial documents” subject to a strong presumption of public access and denied the SEC’s motion to keep them hidden.
Fuck memecoins, says PSYCHO. Yep, you heard that right. Here's why it got our attention:
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
Bitcoin Price Analysis: BTC Bulls Aim Fresh Uptrend
Bitcoin price is showing positive signs above $28,000 against the US Dollar. BTC might correct lower but dips could be limited below the $27,400 zone.
Bitcoin Price AnalysisBitcoin price started a steady increase from the $25,000 support zone. The price gained and cleared many hurdles near the $26,500 and $27,000 levels.
There was a clear move above the $27,500 level and the 55 simple moving average (4 hours). The price even rallied above the $28,000 resistance zone. However, the bears were active near the $29,000 zone. A high was formed near $29,050 and the price is now consolidating gains.
Bitcoin price is showing positive signs above $28,000 against the US Dollar. BTC might correct lower but dips could be limited below the $27,400 zone.
Bitcoin Price AnalysisBitcoin price started a steady increase from the $25,000 support zone. The price gained and cleared many hurdles near the $26,500 and $27,000 levels.
There was a clear move above the $27,500 level and the 55 simple moving average (4 hours). The price even rallied above the $28,000 resistance zone. However, the bears were active near the $29,000 zone. A high was formed near $29,050 and the price is now consolidating gains.
Crypto Firms Face Turmoil as Prime Trust Fallout Causes Service Disruptions and Concerns
After the Bitgo acquisition deal to purchase Prime Trust fell through, it seems that crypto firms that have worked with the custodian are experiencing problems. On Thursday, Seattle-based fintech startup Stably announced the need to “temporarily pause” certain services and operations. According to reports, the bitcoin payments platform, Strike, is also encountering difficulties and has purportedly suspended direct deposits.
Stably to Halt Services, Customer Email Shows Prime Trust Issues May Be Giving Strike a HeadacheThe cryptocurrency custodian, Prime Trust, has become a subject of widespread discussion on crypto forums and social media on June 22. Reports revealed that Prime Trust has suspended withdrawals and deposits, a fact confirmed by customers who utilized the services of Prime Trust. Seattle-based crypto firm Stably shared this information through a blog post. In a letter from Prime Trust, it was stated that the firm received an order from the Nevada Financial Institution Division, and it expressed hope to “return to business as usual as soon as possible.”
The Prime Trust situation should be a lesson that your bitcoin is not “safe” on any 3rd party custodian, even if it’s one that plebs tell you is fine b/c “all your sats are in a trust account w/your name on it”
After the Bitgo acquisition deal to purchase Prime Trust fell through, it seems that crypto firms that have worked with the custodian are experiencing problems. On Thursday, Seattle-based fintech startup Stably announced the need to “temporarily pause” certain services and operations. According to reports, the bitcoin payments platform, Strike, is also encountering difficulties and has purportedly suspended direct deposits.
Stably to Halt Services, Customer Email Shows Prime Trust Issues May Be Giving Strike a HeadacheThe cryptocurrency custodian, Prime Trust, has become a subject of widespread discussion on crypto forums and social media on June 22. Reports revealed that Prime Trust has suspended withdrawals and deposits, a fact confirmed by customers who utilized the services of Prime Trust. Seattle-based crypto firm Stably shared this information through a blog post. In a letter from Prime Trust, it was stated that the firm received an order from the Nevada Financial Institution Division, and it expressed hope to “return to business as usual as soon as possible.”
The Prime Trust situation should be a lesson that your bitcoin is not “safe” on any 3rd party custodian, even if it’s one that plebs tell you is fine b/c “all your sats are in a trust account w/your name on it”
Over 10,000 South African Retail Outlets Now Accept Momint Crypto Vouchers
Momint, a Web3 marketplace app, has said South African residents can now use cryptocurrency to purchase shopping vouchers which are accepted by over 10,000 retailers. The Momint app can also be used to send cross-border remittances at a fraction of the fees charged by regular money transfer companies.
Vouchers Accepted by Popular BusinessesMomint, a Web3 marketplace, has launched a blockchain wallet which allows South African residents to purchase a shopping voucher with cryptocurrency, a report has said. Holders of the voucher can make payments at over 10,000 retail outlets across the African country.
According to a Mybroadband report, South Africa’s retail giants such as Checkers, Woolworths, Engen, and Takealot are some of the outlets that accept the Momint vouchers. The report added that the voucher is also accepted at some 5,000 international retailers.
Momint, a Web3 marketplace app, has said South African residents can now use cryptocurrency to purchase shopping vouchers which are accepted by over 10,000 retailers. The Momint app can also be used to send cross-border remittances at a fraction of the fees charged by regular money transfer companies.
Vouchers Accepted by Popular BusinessesMomint, a Web3 marketplace, has launched a blockchain wallet which allows South African residents to purchase a shopping voucher with cryptocurrency, a report has said. Holders of the voucher can make payments at over 10,000 retail outlets across the African country.
According to a Mybroadband report, South Africa’s retail giants such as Checkers, Woolworths, Engen, and Takealot are some of the outlets that accept the Momint vouchers. The report added that the voucher is also accepted at some 5,000 international retailers.
Canadian Regulator Unveils New Capital Rules For Crypto Assets
The top financial regulator in Canada has proposed new capital and liquidity guidelines for financial institutions and insurers that hold crypto assets. The new rules were drafted in response to the banking standards for crypto asset exposures released by the Basel Committee on Banking Supervision in December last year.
OSFI’s Guidelines For Crypto Are Open For Public ConsultationThe changes to capital and liquidity approach to crypto assets reflect an evolving risk environment and international developments, the Office of the Superintendent of Financial Institutions (OFSI) stated in a press release earlier today.
The new guidelines laid out details regarding the regulatory capital treatment of crypto asset exposures for federally regulated deposit-taking institutions (banks, credit unions), and insurers. The draft guidelines will remain open for public consultation till September 30, 2023.
The top financial regulator in Canada has proposed new capital and liquidity guidelines for financial institutions and insurers that hold crypto assets. The new rules were drafted in response to the banking standards for crypto asset exposures released by the Basel Committee on Banking Supervision in December last year.
OSFI’s Guidelines For Crypto Are Open For Public ConsultationThe changes to capital and liquidity approach to crypto assets reflect an evolving risk environment and international developments, the Office of the Superintendent of Financial Institutions (OFSI) stated in a press release earlier today.
The new guidelines laid out details regarding the regulatory capital treatment of crypto asset exposures for federally regulated deposit-taking institutions (banks, credit unions), and insurers. The draft guidelines will remain open for public consultation till September 30, 2023.
Awakening of a Bitcoin Giant: $30 Million in BTC Moved From Dormant Wallets After 6-Year Slumber
In 2023, multiple dormant bitcoin transactions caught the public’s attention and made headlines. Sunday night marks another significant event after a ‘sleeping bitcoin’ whale from 2017 stirred, spending an impressive 1,177.89 BTC — worth more than $30 million — from seven distinct bitcoin addresses, untouched for just over six years.
1,177 Bitcoin From 2017 Move for the First Time in Over 6 Years
In 2023, multiple dormant bitcoin transactions caught the public’s attention and made headlines. Sunday night marks another significant event after a ‘sleeping bitcoin’ whale from 2017 stirred, spending an impressive 1,177.89 BTC — worth more than $30 million — from seven distinct bitcoin addresses, untouched for just over six years.
1,177 Bitcoin From 2017 Move for the First Time in Over 6 Years
Robert Kennedy Jr. Promises to End White House War on Bitcoin — Says We Need ‘Freedom Currency’ That Government Can’t Control
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised to end the White House’s war on bitcoin if he is elected President of the United States. “I’m going to make sure that bitcoin is protected, that people can keep their own wallets, that the current White House war on bitcoin will be over, that transactions will be protected and encouraged,” said the presidential hopeful.
RFK Jr.’s Bitcoin PromisesU.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) discussed a variety of topics, including bitcoin, in an interview with Bitcoin Magazine, published Wednesday. RFK Jr. is a son of former U.S. Attorney General and Senator Robert F. Kennedy and nephew of former U.S. President John F. Kennedy.
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised to end the White House’s war on bitcoin if he is elected President of the United States. “I’m going to make sure that bitcoin is protected, that people can keep their own wallets, that the current White House war on bitcoin will be over, that transactions will be protected and encouraged,” said the presidential hopeful.
RFK Jr.’s Bitcoin PromisesU.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) discussed a variety of topics, including bitcoin, in an interview with Bitcoin Magazine, published Wednesday. RFK Jr. is a son of former U.S. Attorney General and Senator Robert F. Kennedy and nephew of former U.S. President John F. Kennedy.
ApeX Protocol Debuts USDT Contract Listings With Negative Market Maker Fees and 5,000 USDT Rewards Pool
November 15, 2023 – Saint Vincent and the Grenadines, Caribbean
The leading non-custodial derivatives DEX (decentralized exchange, ApeX Protocol proudly unveils the beta release of USDT contracts today. This significant development marks ApeX as one of the pioneering DEXs, offering support for both USDC and USDT perpetual contracts.Recognizing USDT’s substantial share in the stablecoin market – accounting for 69.5% as of November 15, 2023 – ApeX takes a significant step forward by broadening its product range.
The introduction of USDT contracts, initiating with the BTC-USDT pair, provides traders with 50x leverage, with additional contract listings in the pipeline for the near future.
November 15, 2023 – Saint Vincent and the Grenadines, Caribbean
The leading non-custodial derivatives DEX (decentralized exchange, ApeX Protocol proudly unveils the beta release of USDT contracts today. This significant development marks ApeX as one of the pioneering DEXs, offering support for both USDC and USDT perpetual contracts.Recognizing USDT’s substantial share in the stablecoin market – accounting for 69.5% as of November 15, 2023 – ApeX takes a significant step forward by broadening its product range.
The introduction of USDT contracts, initiating with the BTC-USDT pair, provides traders with 50x leverage, with additional contract listings in the pipeline for the near future.
Solana (SOL) Price Analysis: Rally Could Extend To $140
Solana price is trading in a positive zone above $100 against the US Dollar, like Bitcoin. SOL could extend its rally toward the $140 resistance.
Solana (SOL) Price AnalysisSOL price remained in a bullish zone above the $88 and $90 support levels. The bulls were active near the $90 zone. A base was formed, and the price started a decent increase above the $100 level.
There was a push above the $105 level and the 55 simple moving average (4 hours). The pair even climbed above the $120 level. A high was formed near $125.97 and the price is now consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $67.00 swing low to the $125.07 high.
Solana price is trading in a positive zone above $100 against the US Dollar, like Bitcoin. SOL could extend its rally toward the $140 resistance.
Solana (SOL) Price AnalysisSOL price remained in a bullish zone above the $88 and $90 support levels. The bulls were active near the $90 zone. A base was formed, and the price started a decent increase above the $100 level.
There was a push above the $105 level and the 55 simple moving average (4 hours). The pair even climbed above the $120 level. A high was formed near $125.97 and the price is now consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $67.00 swing low to the $125.07 high.
UK Police Seize 61,000 Bitcoins From Huge Chinese Investment Fraud
The U.K. Metropolitan Police have reportedly seized more than 61,000 bitcoins from a massive Chinese investment fraud. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole roughly $6.4 billion from more than 128,000 investors.
British Police Seize Over 61,000 BitcoinsThe U.K. Metropolitan Police have seized more than 61,000 bitcoins from a massive investment fraud in China, marking one of the largest cryptocurrency seizures globally, the Financial Times reported Tuesday.
The bitcoin seizure information was disclosed during a trial of 42-year-old Jian Wen, who is accused of laundering bitcoin for her former employer, Zhimin Qian (also known as Yadi Zhang), an alleged fugitive from China. Wen moved to the U.K. in 2007 from China and became a British citizen in 2018.
The U.K. Metropolitan Police have reportedly seized more than 61,000 bitcoins from a massive Chinese investment fraud. A British citizen is accused of laundering bitcoin for a Chinese fugitive who allegedly stole roughly $6.4 billion from more than 128,000 investors.
British Police Seize Over 61,000 BitcoinsThe U.K. Metropolitan Police have seized more than 61,000 bitcoins from a massive investment fraud in China, marking one of the largest cryptocurrency seizures globally, the Financial Times reported Tuesday.
The bitcoin seizure information was disclosed during a trial of 42-year-old Jian Wen, who is accused of laundering bitcoin for her former employer, Zhimin Qian (also known as Yadi Zhang), an alleged fugitive from China. Wen moved to the U.K. in 2007 from China and became a British citizen in 2018.
Solana-Based Altcoin That’s Up 900%+ in a Month Primed for Monster Move, Says Top Trader – Here Are His Targets
A widely followed crypto analyst and trader is expressing bullish sentiment on an altcoin in the Solana (SOL) ecosystem that has skyrocketed by triple digits in four weeks.
The analyst pseudonymously known as Bluntz tells his 244,400 followers on the social media platform X that the memecoin dogwifhat (WIF) is primed for a “monster” surge after making a V-shaped recovery on the hourly chart.
A widely followed crypto analyst and trader is expressing bullish sentiment on an altcoin in the Solana (SOL) ecosystem that has skyrocketed by triple digits in four weeks.
The analyst pseudonymously known as Bluntz tells his 244,400 followers on the social media platform X that the memecoin dogwifhat (WIF) is primed for a “monster” surge after making a V-shaped recovery on the hourly chart.
Hong Kong’s New Bitcoin, Ethereum ETFs Will Be ‘Lucky’ To Attract $500 Million Inflows, Expert Says
Hong Kong regulators on Monday greenlighted the launch of spot Bitcoin and Ethereum exchange-traded funds (ETFs), demonstrating the growing institutionalization of cryptocurrencies.
However, Bloomberg’s senior ETF analyst Eric Balchunas has thrown cold water on the excitement surrounding the new spot crypto products after suggesting they are not as big of a deal as some crypto enthusiasts may think.
Hong Kong regulators on Monday greenlighted the launch of spot Bitcoin and Ethereum exchange-traded funds (ETFs), demonstrating the growing institutionalization of cryptocurrencies.
However, Bloomberg’s senior ETF analyst Eric Balchunas has thrown cold water on the excitement surrounding the new spot crypto products after suggesting they are not as big of a deal as some crypto enthusiasts may think.
The Web3 Epic Challenge with OGCommunity, Hello Pixel, Xyro, TweetScout and 7 big projects where you get a chance to claim $50,000 USDT and fantastic prizes in tokens and NFTs
The Web3 Epic Challenge organized by OGCommunity has rallied key players from the Web3 and GameFi realms, including notable names such as Hello Pixel, Terminal, ZarGates, The Sandbox, Hexacore, MemeFi Club, WorldShards, Xyro, TweetScout. Gamers embarking on this epic journey will face challenging tasks crafted by each project, vying for prestigious prizes along the way.
Click, complete tasks and grab prizes
The Web3 Epic Challenge organized by OGCommunity has rallied key players from the Web3 and GameFi realms, including notable names such as Hello Pixel, Terminal, ZarGates, The Sandbox, Hexacore, MemeFi Club, WorldShards, Xyro, TweetScout. Gamers embarking on this epic journey will face challenging tasks crafted by each project, vying for prestigious prizes along the way.
Click, complete tasks and grab prizes