The bullish momentum that had been growing across the cryptocurrency ecosystem over the past few days came to a screeching halt on Sept. 24 as news that China had banned cryptocurrency transactions made the rounds on social media and initiated an abrupt fall in the price of Bitcoin (BTC) from $45,000 to $42,000. After the initial knee-jerk reaction and a brief…
A Redditor living in Yemen’s capital city of Sana’a claims to be using cryptocurrencies to buy food packages for families unable to access supplies during an ongoing civil war.According to a Sept. 23 Reddit post from user yemenvoice, the Yemen national has raised roughly $12,000 in crypto donations to be used towards fighting starvation in the Middle Eastern nation. They…
Cryptocurrency exchanges in South Korea have until midnight on Friday to register with financial authorities in order to continue operating legally. Only 10 digital asset trading platforms have already submitted their documents to the Korean anti-money laundering body. Compliance Deadline for New Korean Crypto Regulations Expires Friday Registering with Korea’s Financial Intelligence Unit (FIU) is a key requirement for both…
Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter.In a week where DeFi’s parabolic growth continued, elsewhere, the United States Securities and Exchange Commission Chair Gary Gensler threatened to tackle stablecoins.What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week — released a whole lot…
On September 21, former Bitcoin developer Gavin Andresen published an interesting blog post about “a possible [Bitcoin] future.” The blog post details a theoretical situation for the Bitcoin network in 2061, where most [bitcoin] transactions don’t happen on the [Bitcoin] network. A Theoretical Look at $6 Million Dollars per Bitcoin and the Year 2061 Following Satoshi Nakamoto’s departure from Bitcoin…
Morgan Stanley’s Dennis Lynch shared a light-hearted analogy during a discussion at Morningstar’s yearly investment conference today, claiming that Bitcoin’s insatiable ability to defy the odds and rise from both technical and fundamental adversity portrays that of the South Park cartoon character Kenny.The 24-series show has garnered a global audience base for its weird and wacky sense of humour, epitomised…
To separate the signal from the noise, the Kraken Intelligence team analyzes on-chain data to bring you the latest insights into the ever-changing world of cryptoassets. Download the September on-chain report, “End of Summer Sale,” to learn why market participants remain optimistic (even in the face of a $10k red candle), what was behind recent weakness in the price of…
The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments. China’s Central Bank Shakes Crypto…
The price of Ethereum’s native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions as “illegal.””Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies,” the People’s Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese…
Bitcoin (BTC) dipped deeper to challenge $40,000 support during Sept. 24 as the dust settled on what analysts stressed was a false alarm from China.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewA classic bull run formula?Data from Cointelegraph Markets Pro and TradingView showed new multi-day lows of $40,690 for BTC/USD on Bitstamp, down 8% on the day.Hodlers had been frustrated but remained…
