Category: Cryptocurrency News

The images depicting Donald Trump cuddling up to and kissing Anthony Fauci were labeled as being AI-generated on Twitter’s disinformation alert feature.

Research into “Long COVID” and furthering medical infrastructure development will be the two main focus areas for Buterin.

Bitcoin price is consolidating above the $26,000 support. BTC could start another decline if it stays below $27,400 for a long time. Bitcoin is struggling to gain pace for a move above the $27,400 resistance. The price is trading near $26,500 and the 100 hourly Simple moving average. There was a break above a declining channel with resistance near $26,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline again if there is a move below the $26,000 support zone. Bitcoin Price Faces Resistance Bitcoin price remained stable above the $26,000 level. BTC traded as low as $26,139 and recently started an upside correction. It was able to climb above the $26,250 level. There was a move above the 23.6% Fib retracement level of the downward move from the $27,387 swing high to the $26,139 low. Besides, there was a break above a declining channel with resistance near $26,420 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading near $26,500 and the 100 hourly Simple moving average. It seems to be facing resistance near the $26,750 level. It is close to the 50% Fib retracement level of the downward move from the $27,387 swing high to the $26,139 low. A clear move above the $26,750 resistance might start a decent increase. The next major resistance is near the $27,000 level. A close above $27,000 might send the price further higher. Source: BTCUSD on TradingView.com The next key resistance is near the $27,400 level. A clear move above the $27,400 resistance might call for a move toward the $27,500 resistance. Any more gains above the $27,500 resistance zone might send the price toward the $28,500 resistance zone. Fresh Decline in BTC? If Bitcoin’s price fails to clear the $27,000 resistance, it could continue to move down. another decline. Immediate support on the downside is near the $26,140 level. The next major support is near the $25,850 level, below which the price might accelerate lower. In the stated case, the price could drop toward the $25,400 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is near the 50 level. Major Support Levels – $26,140, followed by $25,840. Major Resistance Levels – $26,750, $27,000, and $27,400.

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The recent allegations of insider trading against Coinbase CEO Brian Armstrong have raised concerns among investors and industry experts. Armstrong sold nearly 30,000 shares of his company worth over $1.7 million just two days before the Securities and Exchange Commission (SEC) initiated enforcement action against Coinbase. Related Reading: Stablecoin Market Cap Decreases, But Whales Remain Unfazed: Santiment Coinbase Investors Question CEO’s Stock Sale Prior SEC Complaint Coinbase CEO Brian Armstrong has come under scrutiny after selling a massive 29,730 shares of his company’s Class A Common Stock on June 5, 2023, according to a Form 4 filed with the Securities and Exchange Commission. Armstrong made the sale in eight separate transactions, all on the same date, at an average price of $60.3 per share. This netted him over $1.7 million in total. There is speculation that Armstrong’s stock sale was a pre-planned transaction, made before Coinbase’s stock plummeted from $63 per share to $44, a considerable decline of 30%. This has raised concerns among investors about the possibility of insider trading or a planned stock sale by the company’s executives. However, executives at publicly traded companies like Coinbase since 2021, are often required to follow strict rules about when and how they can trade their company’s stocks.  They are typically required to set up a trading plan, which allows them to schedule sales of their stocks well in advance, at times when they do not possess insider information. The plan’s details, including how many shares to sell and when must be pre-determined and followed exactly. If Armstrong’s sale was made according to his plan, the timing of the sale just a day before the SEC lawsuit was made public would be a coincidence. However, some investors are still concerned about the optics of the sale and the possibility of insider trading. Nevertheless, companies are typically bound by disclosure rules that require them to inform the public of significant events as soon as possible. The announcement of the SEC lawsuit likely followed these rules, and it’s possible that the news coincided with Armstrong’s pre-scheduled stock sale. Ripple’s SEC Case Could Have Far-Reaching Implications For The Exchanges The ongoing SEC v. Ripple case has significant implications for the cryptocurrency industry, particularly for companies like Coinbase and Binance. According to crypto-friendly lawyer James Murphy, a ruling in favor of Ripple by Judge Torres could undermine the SEC’s case against Coinbase and Binance. Murphy believes that if Judge Torres rules that XRP tokens traded on secondary markets are not securities, it would weaken the SEC’s argument that Coinbase is operating an unregistered securities exchange, broker-dealer, and clearing broker. The SEC claims that 13 tokens traded on Coinbase are securities, but if those tokens are ruled not to be securities, the SEC’s case would fall apart. While a ruling by Judge Torres would not be binding precedent in other cases, Judge Rearden, who is presiding over the Coinbase case, is a new judge and works in the same court in lower Manhattan with Judge Torres.  Murphy believes that Judge Rearden will pay close attention to Judge Torres’ legal reasoning in ruling whether $XRP is a security, and could follow that reasoning when analyzing whether the 13 tokens cited in the Coinbase complaint are securities. Related Reading: Bitcoin Bearish Signal: Dormant 1,433 BTC Moves After 10+ Years However, if Judge Torres rules that $XRP tokens are securities, the SEC could use that decision to argue that the judges presiding over the Coinbase and Binance cases should follow Judge Torres’ reasoning. Featured image from Unsplash, chart from TradingView.com