Category: Cryptocurrency News

Source: https://www.dailysybil.com/post/chairman-gensler-doesn-t-recall-meeting-sbf-claiming-to-be-really-bad-with-names Substack: https://dailysybil.substack.com/p/chairman-gensler-doesnt-recall-meeting ​ THE BAHAMAS – Amidst controversy that Sam Bankman-Fried’s status of being President Biden’s second largest donor may have led to preferential treatment for SBF’s now insolvent platform, FTX, Chairman Gensler has responded “SBF? I’m drawing a big blank here, you’re saying I met him?” On March 23, roughly eight months…
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At the time of this post FTT is trading around $1.90 after a 50% surge to the upside. This would equate to ~$630 million in market cap. Obvious answer is short squeeze due to future contracts but there seems to be buying support around this level. Once bankruptcy proceedings begin is there any actual value…
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Ripple defense lawyer John Deaton’s CryptoLaw website has a petition app, and readers are urging Congress to look into a suspicious meeting and other supposedly questionable links.

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“The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change,” said the SEC.

On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender Blockfi is reportedly in the process of filing for Chapter […]

The new router features a number of updates, including an improved smart contract error processing system.

The Bitcoin Coinbase Premium Index suggests US investors have been selling more heavily than others during the latest crash in the crypto. Bitcoin Coinbase Premium Index Has Turned Deep Red Recently As pointed out by an analyst in a CryptoQuant post, whales on Coinbase Pro seem to have been behind the latest dump. The “Coinbase Premium Index” is an indicator that measures the percentage difference between the Bitcoin price listed on Coinbase Pro (USD Pair) and the one listed on Binance (USDT pair). Coinbase Pro is popularly known to be used by investors based in the US (especially large institutionals), while Binance gets a more global traffic. Therefore, the price gaps listed on these two crypto exchanges can hint at which investors are selling or buying more. When the metric has a positive value, it means the value of BTC on Coinbase is higher than on Binance right now, suggesting that US investors have provided more buying pressure recently. Related Reading: Bitcoin Moves Differently From US Stock Market, Correlation Weakening? On the other hand, negative values of the premium suggest American holders are dumping more than global investors at the moment. Now, here is a chart that shows the trend in the Bitcoin Coinbase Premium Index over the past year: The value of the metric seems to have been red in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin Coinbase Premium Index has plunged into negative values recently along with the crash. This means that US investors have been dumping more aggressively than investors from the rest of the world in the past week. Related Reading: Quant Points Out Striking Resemblance Between 2017 And 2021 Bitcoin Cycles Also, as is clearly visible in the chart, a similar trend was also seen back in early May, when BTC’s price crashed from $40k to $30k. The quant notes that while Coinbase observed this selling, the Bitcoin Korea Premium Index showed an interesting behavior. The below chart highlights this trend. Looks like this metric had a green value recently | Source: CryptoQuant The Korea Premium Index measures the gap between the prices listed on South Korean crypto exchanges, and that on other exchanges. From the graph, it’s apparent that during both the current crash as well as the one in May, the indicator showed positive spikes. This implies that while the US investors were dumping, the Korean investors were focusing on “buying the dip.” BTC Price At the time of writing, Bitcoin’s price floats around $16.8k, down 15% in the last week. Over the past month, the crypto has shed 11% in value. BTC has been stuck in consolidation under $17k in the last few days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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