Category: Cryptocurrency News

Shiba Inu (SHIB) enthusiasts have been eagerly monitoring the cryptocurrency’s price movements as it approaches a critical juncture. After a period of consolidation, the Shiba Inu price has finally reached the support line of a long-term pattern, igniting hopes of a potential bounce.  However, investors remain cautiously optimistic, aware that the validity of this anticipated rebound has yet to be confirmed. Nevertheless, what factors are fueling SHIB’s momentum for this potential rebound? Related Reading: Shiba Inu Struggles To Initiate A Breakout: Will It Defy Resistance And Rebound? Driving Force Behind SHIB’s Potential Bounce Technical analysis plays a crucial role in understanding the potential drivers behind price movements in the cryptocurrency market. In the case of Shiba Inu (SHIB), the formation of a triangle pattern since June 2022 has captured the attention of traders and investors alike. This pattern is characterized by converging trendlines, with the current price position at a critical juncture, presenting the possibility of either a breakthrough or a retreat. After reaching a level of support, $SHIB is exhibiting a pattern of a symmetric triangle, with both buyers and sellers waiting for the next move. pic.twitter.com/bEkcgklEmq — Lune Trading (@LuneTrading) May 21, 2023 The significance of this triangle pattern cannot be understated. A breakdown from the triangle would not only put the current support line at risk but also invalidate the year-long support structure that has provided stability to SHIB holders. Such a development would introduce a new level of uncertainty and potentially dampen investor sentiment. However, recent price movements have shown some encouraging signs for SHIB enthusiasts. On May 8, the SHIB price experienced a rebound precisely at the support line of the triangle, marking the first time this level had been reached since the beginning of the year. This rebound was accompanied by a notable increase in price. SHIB market cap currently at $5.10 billion. Chart: TradingView.com Related Reading: Ethereum: Experts Predict Imminent Bull Run Toward $1,900 Shiba Inu Continues To Gain Momentum In the dynamic world of cryptocurrencies, Shiba Inu (SHIB) has recently made waves with its impressive performance. According to data from CoinGecko, SHIB is currently priced at $0.00000895, showcasing a remarkable 5.1% rally over the past 24 hours. Moreover, the cryptocurrency has been steadily climbing, registering a consistent 1.5% increase in value over the course of the past seven days. Source: Coingecko As SHIB continues to gain momentum and attract attention, it is important for investors to stay informed and monitor the factors influencing its price movements. While short-term fluctuations are inevitable in the cryptocurrency market, understanding the underlying dynamics and staying updated on news and developments can help navigate the ever-changing landscape. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk) -Featured image from Unsplash

The cryptocurrency exchange secured VASP licensing in Lithuania in April.

Hi all, I’d like to convert BTC to ETH without using a CEX. Is it possible? Is there a bridge that I can use? submitted by /u/skdidjsj [link] [comments]

The fake job advertisements have lured prospective employees to foreign countries and then forced participation in cryptocurrency fraud schemes.

A United States District Judge, Amos Mazzant, has ruled that Binance, the world’s largest cryptocurrency exchange by client count, is not liable for the loss incurred by a Texan woman named Divya Gadasalli who lost $8 million in a pig butchering scheme. Binance Is Not Liable In a ruling on May 22, Judge Amos dismissed the lawsuit that Gadasalli had brought forward in which she claimed that Binance aided the scammer steal $8 million in a scheme hatched on Tinder, a dating app. Binance filed for the case to be dismissed at the United States Easter District Court of Texas, saying the plaintiff had failed to state a claim. Moreover, Binance lawyers say there was a lack of personal jurisdiction and this request was made in June 2022. Related Reading: Ripple CTO Labels BEN Coin As Scam, Bitboy Reacts The ruling on May 22, Judge Amos said, complied with Federal rules that require a court to dismiss a claim should there be no personal jurisdiction over the defendant, in this case, Binance.  In law, personal jurisdiction empowers the court to hear a case, regardless of the subject matter. And afterward, they can make a ruling.  Despite Binance’s position that there is no personal jurisdiction, Gadasalli’s lawyers wanted the court to investigate the relationship between Binance and Binance US. Court filings show that Gadasalli had been scammed off $8 million after being “promised romance and financial prosperity” in a pig butchering scam. In a pig butchering scam, the victim engages in a well-orchestrated fraud where romance is used as bait for active investment in non-existent cryptocurrency schemes. Court data shows that the fraudulent scheme was devised by three defendants, Jerry Bulasa, Dong Lian, and Danyun Lin. Gadasalli met Bulasa on Tinder and believed she had struck a romantic connection. Eventually, the victim ended up “investing in the direction of Bulasa,” whom she thought was a “successful cryptocurrency investor.” Bulasa later informed Gadasalli that their crypto investment stood at $10 million, but she couldn’t withdraw any assets. This frustration and realization that she was down $8 million made her file a lawsuit against Bulasa and Binance. Lawsuits And Investigations, BNB Firm Binance has been a target of United States regulators in recent months. In March, the United States Commodity Futures Trading Commission (CFTC) sued the exchange for allegedly operating a derivatives trading platform without registration, violating existing trading laws.  Related Reading: Uniswap Founder Says Banks Are Massive Scams Meanwhile, the Securities and Exchange Commission (SEC) is reportedly investigating whether the exchange violates securities law. The Internal Revenue Service (IRS) is also investigating possible tax evasion claims. Still, BNB, the native currency of the Binance ecosystem, is steady when writing. Although it is under pressure, the coin is trading above $300 and bullish, aligning with gains from March 2023. And BNB is currently up 15% from March 2023 lows. Feature Image From Canva, Chart From TradingView

The new FTX CEO has undertaken a series of meetings over the past month to work on the relaunch of the failed crypto exchange by entering in a bidding process.

One of which was either part of the presale or has an OG etherscan tag. Dm me on Telegram: @proximityF Youll like the talk 🙂 submitted by /u/Flawhehe [link] [comments]

Hong Kong’s securities watchdog announced new plans to allow retail investor access to virtual assets platform.

submitted by /u/IlIlllIIllllIIlI [link] [comments]