Bitcoin bulls continued to battle with bears near the $43,000 support level on Sept. 27 as China’s crackdown on all things cryptocurrency put a halt to last week’s positive price movements and has stifled growth into the day.According to Eric Krown, a cryptocurrency trader and host of Krown’s Crypto Cave, what comes next for Bitcoin (BTC) really “depends on what…
In the wake of yet another iteration of China’s enduring crackdown on cryptocurrency, a particularly influential narrative on Crypto Twitter suggests that by banning Bitcoin (BTC), China has definitively put itself on the dark side of the struggle, while the collective West must now resolutely throw its weight on the opposite side by embracing crypto.Granted, this framework for thinking about…
Bitcoin (BTC) and Ether (ETH) recovered a large part of the losses that happened due to the knee-jerk reaction to China’s regulatory crackdown on Sept. 24. This suggests that crypto markets have absorbed the news-based selling, with long-term investors likely using the dip to accumulate.However, a rally may have to wait as market participants watch the outcome of the infrastructure…
Coinbase will soon allow United States businesses to deposit employees’ paychecks directly into accounts at the cryptocurrency exchange.In a Sept. 27 blog post, Coinbase senior director of product Prakash Hariramani said the exchange would be offering direct deposits for workers wanting to immediately use their paychecks to purchase crypto with no transaction fees. Users can set up direct deposits through…
Crypto exchange Bitfinex completed a highly consequential transaction today when sending $100,000 of the stablecoin Tether (USDT) to the layer-2 subsidiary platform DeversiFi. For reasons unknown, the exchange paid 7,676 ETH, equivalent to $23.7 million, marking quite possibly the largest gas fee ever-recorded on the Ethereum blockchain. According to blockchain data from EtherScan, the deposit transaction was initiated at 11:10 UTC this…
Major cryptocurrency exchanges are cutting ties with users in China following the latest crypto crackdown announcement by the Chinese government. Huobi has stopped letting new users in China sign up for its services while Binance has blocked account registrations using Chinese mobile phone numbers. Major Crypto Exchanges Stop Signing Up Chinese Users Following China’s latest crackdown announcement, several cryptocurrency exchanges…
Major U.S. investment bank Morgan Stanley has more than doubled its shares of Grayscale Bitcoin Trust since April.According to a report from the U.S. Securities and Exchange Commission, or SEC, filed Sept. 27, the Morgan Stanley Europe Opportunity Fund, which invests in established and emerging companies throughout Europe, owned 58,116 shares of the Grayscale Bitcoin Trust, or GBTC, as of…
Ethereum (ETH) developer Virgil Griffith has pleaded guilty to a federal charge that he conspired with North Korea to violate United States sanctions law. On Monday, Griffith pleaded guilty in New York for conspiring to violate the International Emergency Economic Powers Act, which forbids U.S. citizens from exporting technology and intellectual property to communist countries. As part of the plea deal,…
Last week’s drop in Bitcoin (BTC) that saw BTC price falling from $47,358 to $43,178 has sparked fears of an extended selloff.Independent market analyst Nunya Bizniz highlighted a bearish fractal on Bitcoin’s weekly charts concerning its 21-week exponential moving average (EMA). In detail, the cryptocurrency has closed below the said support zone 18 times to date but retained its previous bullish bias only…
The U.S. Securities and Exchange Commission, or SEC, has delivered a report to Congress containing recommendations from small businesses seeking regulatory clarification on the role of digital assets. In a Sept. 27 announcement, the SEC’s Office of the Advocate for Small Business Capital Formation reported on recommendations from the commission’s 40th Annual Small Business Forum held in May. Participants at the…
