Turkey has introduced new cryptocurrency regulations that give the Capital Markets Board (CMB) full oversight of crypto platforms. The FATF Gray Listing Issue Turkey has unveiled new cryptocurrency regulations that grant the Capital Markets Board (CMB) full oversight of crypto platforms. The regulations also stipulate obligations that crypto asset service providers (CASPs) must meet before […]
Key Takeaways: By investing $2 billion in Binance, MGX signals the beginning of a new era for both the company and the crypto industry. The money is anticipated to drive advancements in artificial intelligence, blockchain integration, and regulatory compliance. Such a deal could accelerate institutional investment in the digital asset space. MGX’s $2 billion investment…
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Ethereum price started a recovery wave above the $1,820 zone. ETH is now consolidating and facing hurdles near the $1,950 resistance. Ethereum started a recovery wave above the $1,820 level. The price is trading below $1,920 and the 100-hourly Simple Moving Average. There is a short-term bearish trend line forming with resistance at $1,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $1,900 and $1,950 resistance levels to start a decent increase. Ethereum Price Faces Resistance Ethereum price formed a base above the $1,760 level and started a recovery wave, like Bitcoin. ETH was able to clear the $1,820 and $1,850 resistance levels. The bulls pushed the price above the $1,920 level. There was a move above the 23.6% Fib retracement level of the downward wave from the $2,150 swing high to the $1,752 low. However, the bears seem to be active near the $1,950 resistance zone. Ethereum price is now trading below $1,920 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,900 level. There is also a short-term bearish trend line forming with resistance at $1,900 on the hourly chart of ETH/USD. The next key resistance is near the $1,950 level or the 50% Fib retracement level of the downward wave from the $2,150 swing high to the $1,752 low. The first major resistance is near the $1,990 level. A clear move above the $1,990 resistance might send the price toward the $2,050 resistance. An upside break above the $2,050 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,120 resistance zone or even $2,250 in the near term. Another Drop In ETH? If Ethereum fails to clear the $1,950 resistance, it could start another decline. Initial support on the downside is near the $1,845 level. The first major support sits near the $1,800 zone. A clear move below the $1,800 support might push the price toward the $1,750 support. Any more losses might send the price toward the $1,720 support level in the near term. The next key support sits at $1,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $1,800 Major Resistance Level – $1,920
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A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States, citing conflicts of interest with US President Donald Trump and arguing that a stockpile would not benefit the American people.House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.Connolly, who didn’t discern between the Strategic Bitcoin Reserve and the Digital Asset Stockpile, said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media.Connolly said the Trump administration’s plan would also waste taxpayer dollars on what the Federal Reserve described as “the dumbest idea ever.”“No strategic need has arisen that would necessitate investment in the volatile and speculative cryptocurrency market,” Connolly, the ranking Democrat on the House committee on oversight and government reform, said in the letter. “[It] would constitute nothing more than a highly speculative taxpayer-backed hedge to provide bitcoin speculators the assurance that when the crash comes, the State will deploy this fund to rescue it.”Democrat Gerald E Connolly’s letter to Treasury Secretary Scott Bessent. Source: US Committee on Oversight and Government Reform DemocratsHowever, the White House has said that the Digital Asset Stockpile will only hold onto cryptocurrency already forfeited. At the same time, the Bitcoin (BTC) reserve will only make acquisitions through budget-neutral strategies that won’t impact taxpayers.Connolly also said that Trump failed to consult with Congress over the Bitcoin reserve plan, let alone obtain congressional authorization to create it.Connolly also alleged there were conflicts of interest between Trump’s presidential duties and the Trump Organization’s ownership of the crypto platform World Liberty Financial, in addition to the Official Trump (TRUMP) memecoin.The Democrat referred to the TRUMP token as a “money grab” that has allowed Trump-linked entities to cash in on over $100 million worth of trading fees. This has been called Trump’s “most lucrative get-rich scheme yet,” Connolly added.Related: Bitcoin reserve may end up a ‘potent political weapon’ — Arthur HayesRepresentative Maxine Waters, a Democrat on the House Financial Services Committee, also criticized Trump’s memecoin on Jan. 20, referring to a rug pull while claiming the launch represented the “worst of crypto.”Connolly has asked Bessent to provide documents and communications related to the creation of a Bitcoin reserve and a complete list of steps the Trump administration has taken to avoid a conflict of interest.Connolly also asked for a list of companies in which the Treasury has crypto-related financial interests. He also asked:“Has the Presidential Working Group on Digital Asset Markets on which you serve, which has been tasked with developing a federal regulatory framework to govern the cryptocurrency reserve, reviewed financial disclosures by the Administration officials, including but not limited to Elon Musk?”The Strategic Bitcoin Reserve will initially use cryptocurrency forfeited in federal criminal or civil cases. Meanwhile, the Digital Asset Stockpile will consist of cryptocurrencies other than Bitcoin, which could include XRP (XRP), Solana (SOL), Cardano (ADA) and Ether (ETH). Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
A Democrat lawmaker has called on the US Treasury to “cease all attempts” to create a strategic crypto reserve in the United States, citing conflicts of interest with US President Donald Trump and arguing that a stockpile would not benefit the American people.House Representative Gerald E. Connolly of Michigan criticized the “cryptocurrency reserve” in a March 13 letter to Treasury Secretary Scott Bessent, stating that it provides “no discernible benefit to the American people” and would instead significantly enrich the president and his donors.Connolly, who didn’t discern between the Strategic Bitcoin Reserve and the Digital Asset Stockpile, said Trump’s plans would constitute “unsound fiscal policy” because it chooses certain cryptocurrencies over others via social media.Connolly said the Trump administration’s plan would also waste taxpayer dollars on what the Federal Reserve described as “the dumbest idea ever.”“No strategic need has arisen that would necessitate investment in the volatile and speculative cryptocurrency market,” Connolly, the ranking Democrat on the House committee on oversight and government reform, said in the letter. “[It] would constitute nothing more than a highly speculative taxpayer-backed hedge to provide bitcoin speculators the assurance that when the crash comes, the State will deploy this fund to rescue it.”Democrat Gerald E Connolly’s letter to Treasury Secretary Scott Bessent. Source: US Committee on Oversight and Government Reform DemocratsHowever, the White House has said that the Digital Asset Stockpile will only hold onto cryptocurrency already forfeited. At the same time, the Bitcoin (BTC) reserve will only make acquisitions through budget-neutral strategies that won’t impact taxpayers.Connolly also said that Trump failed to consult with Congress over the Bitcoin reserve plan, let alone obtain congressional authorization to create it.Connolly also alleged there were conflicts of interest between Trump’s presidential duties and the Trump Organization’s ownership of the crypto platform World Liberty Financial, in addition to the Official Trump (TRUMP) memecoin.The Democrat referred to the TRUMP token as a “money grab” that has allowed Trump-linked entities to cash in on over $100 million worth of trading fees. This has been called Trump’s “most lucrative get-rich scheme yet,” Connolly added.Related: Bitcoin reserve may end up a ‘potent political weapon’ — Arthur HayesRepresentative Maxine Waters, a Democrat on the House Financial Services Committee, also criticized Trump’s memecoin on Jan. 20, referring to a rug pull while claiming the launch represented the “worst of crypto.”Connolly has asked Bessent to provide documents and communications related to the creation of a Bitcoin reserve and a complete list of steps the Trump administration has taken to avoid a conflict of interest.Connolly also asked for a list of companies in which the Treasury has crypto-related financial interests. He also asked:“Has the Presidential Working Group on Digital Asset Markets on which you serve, which has been tasked with developing a federal regulatory framework to govern the cryptocurrency reserve, reviewed financial disclosures by the Administration officials, including but not limited to Elon Musk?”The Strategic Bitcoin Reserve will initially use cryptocurrency forfeited in federal criminal or civil cases. Meanwhile, the Digital Asset Stockpile will consist of cryptocurrencies other than Bitcoin, which could include XRP (XRP), Solana (SOL), Cardano (ADA) and Ether (ETH). Magazine: Crypto fans are obsessed with longevity and biohacking: Here’s why
Bitcoin price started a recovery wave above the $80,500 zone. BTC is now rising and might aim for a move above the $84,000 and $85,000 levels. Bitcoin started a decent recovery wave above the $81,000 zone. The price is trading above $81,500 and the 100 hourly Simple moving average. There was a break below a short-term bullish trend line with support at $83,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $82,500 and $84,000 levels. Bitcoin Price Eyes Steady Increase Bitcoin price remained stable above the $78,000 level. BTC formed a base and recently started a recovery wave above the $80,500 resistance level. The bulls pushed the price above the $82,000 resistance level. However, the bears were active near the $84,000 resistance zone. A high was formed at $84,200 and the price corrected some gains. There was a move below the $83,000 level. The price dipped below the 50% Fib retracement level of the upward move from the $76,818 swing low to the $84,200 high. Besides, there was a break below a short-term bullish trend line with support at $83,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $81,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $82,450 level. The first key resistance is near the $84,000 level. The next key resistance could be $85,000. A close above the $85,000 resistance might send the price further higher. In the stated case, the price could rise and test the $86,500 resistance level. Any more gains might send the price toward the $88,000 level or even $96,200. Another Drop In BTC? If Bitcoin fails to rise above the $82,450 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $80,500 level. The first major support is near the $79,600 level or the 61.8% Fib retracement level of the upward move from the $76,818 swing low to the $84,200 high. The next support is now near the $78,500 zone. Any more losses might send the price toward the $77,000 support in the near term. The main support sits at $76,500. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $80,500, followed by $79,600. Major Resistance Levels – $82,450 and $84,000.
Key Takeaways: The Bank of Russia is also proposing a narrow three-year experimental phase of allowing some wealthy investors to trade cryptocurrencies. If adopted, the proposal would help promote transparency and set guidelines for crypto service providers in Russia. Retail crypto payments will still be banned in the country, despite this move. Today, the Bank…
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A proposal to dramatically change Solana’s inflation system has been rejected by stakeholders but is being hailed as a victory for the network’s governance process.“Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14.Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%.Jain added that this was the biggest crypto governance vote ever, by both the number of participants and the participating market cap, of any ecosystem, chain or network.“This was a meaningful scaling stress test — a social, rather than technical, stress test — and the network passed despite a wide stratification of diverging opinions and interests.”“Solana SIMD-228 voter turnout was higher than every US presidential election in the last 100 years,” claimed the team behind Solana’s X account. SIMD-228 final vote count. Source: DuneSIMD-228 is a proposal to change Solana’s (SOL) inflation system from a fixed schedule to a dynamic, market-based model. Instead of a pre-set decrease in inflation, this new system would dynamically adjust based on staking participation.Currently, supply inflation begins at 8% annually, decreasing by 15% per year until it reaches 1.5%. The new mechanism may have reduced it by as much as 80%, according to some estimates. Solana inflation is currently 4.66%, and just 3% of the total supply is staked, according to Solana Compass. However, such high inflation can increase selling pressure, reduce SOL’s price and discourage network use. The proposed system would have adjusted inflation based on staking levels to stabilize the network and minimize unnecessary token issuance.Solana’s current inflation schedule. Source: HeliusBenefits would have included increased network security due to dynamically increasing inflation if staking participation drops, reaction to real-time staking levels rather than following a fixed, inflexible schedule, and encouraging more active use of SOL in DeFi, according to Solana developer tools provider Helius. However, lower inflation could have made it harder for smaller validators to stay profitable, the proposed model increased complexity, and unexpected shifts in staking rates might have led to instability.Related: Solana price bottom below $100? Death cross hints at 30% dropThere was little reaction in SOL prices, with the asset dipping 1.5% on the day to just below $125 at the time of writing. However, it has tanked by almost 60% in just two months as the memecoin bubble burst. Solana network revenue has also slumped over 90% since it was primarily used to mint and trade memecoins. Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express
A proposal to dramatically change Solana’s inflation system has been rejected by stakeholders but is being hailed as a victory for the network’s governance process.“Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14.Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%.Jain added that this was the biggest crypto governance vote ever, by both the number of participants and the participating market cap, of any ecosystem, chain or network.“This was a meaningful scaling stress test — a social, rather than technical, stress test — and the network passed despite a wide stratification of diverging opinions and interests.”“Solana SIMD-228 voter turnout was higher than every US presidential election in the last 100 years,” claimed the team behind Solana’s X account. SIMD-228 final vote count. Source: DuneSIMD-228 is a proposal to change Solana’s (SOL) inflation system from a fixed schedule to a dynamic, market-based model. Instead of a pre-set decrease in inflation, this new system would dynamically adjust based on staking participation.Currently, supply inflation begins at 8% annually, decreasing by 15% per year until it reaches 1.5%. The new mechanism may have reduced it by as much as 80%, according to some estimates. Solana inflation is currently 4.66%, and just 3% of the total supply is staked, according to Solana Compass. However, such high inflation can increase selling pressure, reduce SOL’s price and discourage network use. The proposed system would have adjusted inflation based on staking levels to stabilize the network and minimize unnecessary token issuance.Solana’s current inflation schedule. Source: HeliusBenefits would have included increased network security due to dynamically increasing inflation if staking participation drops, reaction to real-time staking levels rather than following a fixed, inflexible schedule, and encouraging more active use of SOL in DeFi, according to Solana developer tools provider Helius. However, lower inflation could have made it harder for smaller validators to stay profitable, the proposed model increased complexity, and unexpected shifts in staking rates might have led to instability.Related: Solana price bottom below $100? Death cross hints at 30% dropThere was little reaction in SOL prices, with the asset dipping 1.5% on the day to just below $125 at the time of writing. However, it has tanked by almost 60% in just two months as the memecoin bubble burst. Solana network revenue has also slumped over 90% since it was primarily used to mint and trade memecoins. Magazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express
