Category: Cryptocurrency News

Former Twitter CEO Jack Dorsey highlighted that a solution to Twitter’s censorship issues is making a platform resilient from corporate or government control.

Cryptocurrencies like Ethereum have their fair share of controversy regarding categorization. Government regulatory bodies like the Securities and Exchange Commission (SEC) and the U.S. Commodities Futures Trading Commission (CTFC) have had past battles with other digital assets. The SEC is currently embroiled in a long-running case with Ripple Labs, with the focus on defining the XRP token as a security. Related Reading: LINK Still On ETH Whales’ Shopping Cart Despite Dismal Performance In Last 7 Days The CFTC also views all virtual currencies as commodities under the Commodity Exchange Act (CEA). However, this stance by the regulatory body is controversial since cryptocurrencies pride themselves on being decentralized. However, in light of recently outrageous events in the crypto space, the CTFC and SEC are more determined than ever to increase regulation and proper checks. Investors also desire more crypto coordination, transparency, and honesty to prevent future catastrophes. CTFC Vs. Ethereum The CTFC has labeled Ethereum as a commodity again during a recent court filing. This stance contradicts the position maintained by chief Rostin Behnam in his statement on November 30. According to Behnam, Bitcoin is the only cryptocurrency that should be classified as a commodity. The CTFC, in its lawsuit against Sam Bankman-Fried, FTX, and Alameda research, referred to Bitcoin, Tether (USDT), and Ether as commodities under the provisions of the United States law. The body quoted the law from Section 1a (9) of the Act, 7 U.S.C. § 1a (9). The CTFC has been internally divided on its viewpoint to group Ether as a commodity in the past weeks. Benham said that Bitcoin is the sole crypto asset that should be called a commodity. This view is in contrast to the filing. SEC To Be Granted More Power? Meanwhile, popular crypto skeptic Sen. Elizabeth Warren is said to be preparing a bill to grant the SEC more regulatory authority over crypto assets. Jeffrey Sprecher, Intercontinental Exchange CEO, believes that crypto assets will eventually be called securities. During a financial services conference on December 6, Sprecher stated that this move would ensure greater consumer protections. However, SEC Chairman Gary Gensler is currently undecided on the subject. In an interview with Jim Cramer during the Mad Money show on June 27, Gensler confirmed that Bitcoin was a commodity. “That’s the only one I’m, going to say,” he stated. Related Reading: How Litecoin (LTC) Outperforms Other Top Cryptocurrencies In This Department He had suggested that Ether was security after its initial coin offering (ICO). But it had become more decentralized and evolved into a commodity. In September, he also seemed to reconsider his stance during Ether’s transition to Proof-of-Stake (POS). Gensler stated that staked tokens might be considered securities under the Howey Test. Crypto assets grouping is vital in the U.S. as the CFTC regulates commodities, while the SEC regulates securities.

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Bitso, a Latam-focused cryptocurrency exchange, has partnered with chat-based payments provider Felix Pagos in order to offer Whatsapp-integrated remittances. The objective of this partnership is to put nearly instant chat-based remittances in the hands of Mexican and US users that might be intimidated by crypto tech otherwise. Bitso to Power Felix Pagos Whatsapp-Integrated Remittances Remittances […]

While Congressman Brad Sherman saw SBF as the poster child of the crypto ecosystem, congressman Tom Emmer highlighted the crypto community’s contribution to uncovering the supposed FTX fraud.

Bahamian regulators said that they were the first to take action against SBF, and recent actions of the current CEO hindered their investigation.

Not all Wyckoff accumulation setups lead to massive price rallies as far as the Bitcoin and cryptocurrency markets are concerned.

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After weeks of consolidation, Bitcoin – the largest cryptocurrency by market capitalization – and the broader cryptocurrency market have witnessed a short-term bounce in response to Consumer Price Index data that exceeded expectations. The Labor Department of the United States reported that CPI climbed barely 0.1% between October and November. Last month, the inflation measure recorded a score of 7.1% compared to the projected 7.3%. Bitcoin Inching Closer To $18K The increase has brought the flagship cryptocurrency Bitcoin closer to the $18,000 level. At the time of writing, it is trading at $17,778 after a 24-hour increase of roughly 5%, data by market aggregator Coingecko shows. Related Reading: LINK Still On ETH Whales’ Shopping Cart Despite Dismal Performance In Last 7 Days For its part, Ethereum’s price has risen 4% over the past week to $1,321, maintaining a similar trajectory. Ahead of Tuesday’s trading session, stocks were also trading higher. Following the publication of CPI data, US futures soared. Futures on the Dow Jones Industrial Average rose 780 points, or 2.4%. Futures on the S&P 500 and Nasdaq 100 rose 2.9% and nearly 4%, respectively, in response to inflation data that exceeded expectations. Bitcoin has also reached a new four-week high as a result of the surge, with investors closely monitoring the asset’s price trajectory for a bottom that would likely pave the way for a fresh price flare-up. BTC total market cap at $342 billion on the daily chart | Chart: TradingView.com   On Sam Bankman-Fried Arrest And Optimistic Forecast For BTC On Tuesday, Kitco News analyst Jim Wycoff noted, based on Bitcoin’s recent price momentum, that the leading cryptocurrency may have initiated a “bullish upside breakout.” According to Wycoff, today’s price movement appears to have marked the beginning of a strong upside breakout from Bitcoin’s sideways trading range on the daily bar chart, indicating that a price uptrend will emerge. Wycoff noted that Bitcoin bulls have amassed a near-term technical edge following a struggle of nearly equal proportions. This year has witnessed an extended crypto winter that has yet to show signs of thawing. If the LUNC decline wasn’t terrible enough, the FTX debacle was the proverbial final nail in the coffin that the broader crypto market required to seal their current negative mood. Related Reading: How Litecoin (LTC) Outperforms Other Top Cryptocurrencies In This Department Nonetheless, as the year 2022 draws to a close, the cryptocurrency market is exhibiting indications of fresh energy, allowing investors to usher in the new year on a positive note. Moreover, the arrest and detention of former FTX big boss Sam Bankman-Fried may have been the most significant cause in motivating the crypto enthusiasts to increase Bitcion price once again. As Bitcoinist reported today, the Bahamas government has recently refused Bankman-Fried bail, citing “significant flight risk.” Meanwhile, Bankman-Fried and his legal counsel have indicated their opposition to his extradition to the United States. His extradition hearing is set for February 8, 2023.

With so many posts about a certain coin lately, I just had to write this out because it’s reminiscing of the 2018 bear market. Talk to any crypto person who was here in the 2017 cycle and how many coins they thought definitely had a future. something like 70%+ (not sure the exact number) of…
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