AI should be regulated like medicine and nuclear power: UK minister
A minister from the United Kingdom’s opposition party says artificial intelligence should be licensed and regulated in a similar way to the pharmaceutical and nuclear industries.
A minister from the United Kingdom’s opposition party says artificial intelligence should be licensed and regulated in a similar way to the pharmaceutical and nuclear industries.
In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, Congressmen Sherman and Lynch raised concerns about the tax compliance practices in crypto.
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Stolen crypto from Atomic wallets is already on the move to mixers according to Elliptic.
Amid regulatory uncertainty, the approval has been seen as a small win for the U.S. crypto market and institutional investors.
Meanwhile, total liquidations have topped $280M in the last 12 hours as crypto market sentiment has turned more fearful.
Pepecoin (PEPE), a once-promising meme token, has recently faced a significant setback, witnessing a staggering decline in both its price and market capitalization. The fervent frenzy that once surrounded this meme-inspired digital asset has faded, leaving investors questioning the future of Pepecoin. Pepecoin initially captured the attention of crypto enthusiasts and meme lovers alike, leveraging the popularity of the iconic Pepe the Frog character. Riding the wave of meme-driven mania, the token experienced an exhilarating surge in value, captivating headlines and attracting a considerable influx of investors seeking quick profits. However, this euphoric ascent was short-lived, and Pepecoin’s once unstoppable rise abruptly came to a halt. Related Reading: Shiba Inu (SHIB) Poised For Significant Breakout: Here’s What To Watch Out For PEPE Suffers Sharp Decline In Value In a sudden turn of events, Pepecoin (PEPE) has experienced a significant downturn, as evidenced by its price on CoinGecko plummeting to an astonishingly low value of $0.00000102. The token has suffered a substantial 14.4% slump within the past 24 hours, and its decline over the course of the last seven days has been even more alarming, reaching a staggering 28.4%. Source: Coingecko At its peak, Pepecoin boasted a market capitalization exceeding a billion dollars. However, the recent downturn has seen the token’s market cap dwindle to below $500 million as of press time. This equates to a drastic erosion of over 50% of its value on the price charts. Crypto total market cap weakens to $1.05 trillion on the daily chart at TradingView.com Meme Coin Struggles To Recover: Possible Explanations Pepecoin’s failure to reach a corrective bounce raises questions about the underlying factors contributing to its downfall. While numerous elements could be at play, one possible explanation lies in the shifting market sentiment towards meme tokens. These tokens, which often gain popularity through viral memes and social media trends, have faced increased scrutiny and skepticism as investors become more discerning about their investment choices. As Pepecoin continues to grapple with its current predicament, market participants are left wondering whether the token can regain its lost value or if its decline will be a turning point for meme tokens as a whole. Related Reading: Bedrock Upgrade: How Optimism Game-Changer Could Impact OP Price SEC Lawsuit Vs. Binance Adds To Pepecoin’s Woes The already beleaguered Pepecoin faces further challenges as the Securities and Exchange Commission (SEC) sues Binance, sending shockwaves through the cryptocurrency markets. The fallout from the lawsuit has caused a sea of red, with Bitcoin and other major cryptocurrencies experiencing bearish pressure. Consequently, Pepecoin finds itself caught in the crossfire, as the weakening Bitcoin exerts additional downward pressure on the meme token. This bearish move has amplified the selling pressure on Pepecoin, pushing it to retest its bullish order book (OB) at press time. The bearish sentiment surrounding Bitcoin has cast a shadow on the broader crypto market, including meme tokens like Pepecoin, and raised concerns about the token’s ability to sustain its value. As Bitcoin’s weakness persists, Pepecoin remains vulnerable to further selling pressure. Analysts predict that a drop to $0.0000008579 or even lower is feasible if the bearish momentum continues. -Featured image from PictureCorrect
Paul Grewal reiterated that the “U.S. is falling behind” and is at risk of driving jobs, innovation and investment overseas.
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Ethereum price gained bearish momentum below $1,860 against the US Dollar. ETH is showing a lot of bearish signs and might drop to $1,720. Ethereum is down over 4% and trading well below $1,900. The price is trading below $1,840 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support near $1,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down toward the $1,720 and $1,700 levels. Ethereum Price Drops Over 4% Ethereum’s price failed to clear the $1,920 resistance. ETH started a strong decline below the $1,900 and $1,880 levels to move into a bearish zone, similar to Bitcoin. The bears were able to push the price below the key $1,840 support. Besides, there was a break below a connecting bullish trend line with support near $1,900 on the hourly chart of ETH/USD. The price is down over 4% and it traded close to the $1,775 support. A low is formed near $1,777 and the price is now consolidating losses. It is slowly moving higher above the 23.6% Fib retracement level of the downward move from the $1,912 swing high to the $1,777 low. Ether is now trading below $1,840 and the 100-hourly Simple Moving Average. Immediate resistance is near the $1,840 zone. The next major resistance is near the $1,850 level or the 50% Fib retracement level of the downward move from the $1,912 swing high to the $1,777 low. Source: ETHUSD on TradingView.com A proper move above the $1,840 and $1,850 resistance levels might send Ether toward $1,900. The next resistance sits near $1,920, above which Ethereum could rise toward $1,965. Any more gains above the $1,965 resistance zone might send the price toward the $2,000 resistance. More Losses in ETH? If Ethereum fails to clear the $1,840 resistance, it could continue to move down. Initial support on the downside is near the $1,775 level. The next major support is near the $1,740 zone. If there is a break below the $1,740 support, the price could decline toward the $1,700 support. Any more losses may perhaps send the price toward the $1,660 level or even $1,640. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is below the 50 level. Major Support Level – $1,775 Major Resistance Level – $1,850