Category: Cryptocurrency News

submitted by /u/Ornery_Maintenance_8 [link] [comments]

Wyre was set to be acquired for $1.5 billion by San Francisco e-commerce startup Bolt last year, but the deal was eventually scrapped.

The body overseeing the securities market in Israel is taking steps to incorporate rules for digital assets into the existing legislation. The regulator released a draft proposal to introduce the changes that would define the legal status of cryptocurrencies in the country. Amendments to Israel’s Securities Laws Aimed at Expanding Supervision Over Crypto Arguing that […]

submitted by /u/Shiratori-3 [link] [comments]

After much work and preperation, the new Orcania website is live 🔥 You can now read more about the Orcania DeFi 2.0 DEX and participate in the public $OCA ICO This $OCA ICO is the world's first ever reversible ICO https://orcania.io/ submitted by /u/EAOE_Crypto [link] [comments]

Crypto exchange Binance and its CEO Changpeng Zhao are making headlines once again as news of the company’s acquisition moves hit the industry. According to recent news, Binance acquired a 41% stake on Korean crypto exchange Gopax. The deal was originally scheduled to be revealed last year, and it involved Binance buying the stock holding from Lee Jun-hang, Gopax’s top stakeholder. BNB, Binance’s native token, took the news to heart with a weekly gain of 5.5%. As of this writing, BNB is trading at $255, data from Coingecko shows. Related Reading: ApeCoin: Will January See The End of APE’s Recovery? Binance And South Korea, A Mixed History This has not been the first time Binance entered a business venture in Korea. In the period of 2020 to 2021, Binance KR trading pairs and a hard shutdown of the service in the country was completed. This was due to tight crypto regulation in the country.  Gopax was hit hard after FTX collapsed. During this time, the exchange experienced a liquidity problem forcing the Korean exchange to suspend payments. With the onset of Binance capital flowing into the exchange, we can expect Gopax to rebound from last year’s disaster.  Image: Cryptopolitan Binance, on the other hand, promised to comply with local regulation as they partnered with the port city of Busan in August of last year. This partnership will develop the city’s blockchain infrastructure for its future city-backed digital asset exchange.  What Does This Mean To BNB? With almost no barrier now, this development should push through in the coming weeks as the acquisition is being finalized. With this in mind, Binance’s presence in South Korea would further cement the company as a major player in the centralized exchange market.  However, one can’t be too sure of the future. Nearly a month ago, a Reddit post regarding Binance’s supposed audit exposed a concerning development. Image: Business2Community According to a post, the “audit” was not actually an audit but only an Agreed-Upon-Procedure (AUP) which does not guarantee the truth of its proof-of-reserves.  Related Reading: Cronos (CRO) Up 4% In Last Week Amid Recession Fears Crypto total market cap at $775 billion on the daily chart | Chart: TradingView.com Not to mention that right now, the company is under fire from the SEC as it aggressively tries to acquire Voyager Digital. Whether this acquisition pushes through or not, BNB bulls are poised to breach the $281 price resistance level.  However, with the token being highly correlated with Ethereum, we might see BNB drop if macroeconomic indicators reveal a worsening situation. For now, investors and traders of BNB should consolidate their gains at $252.  If ever the bears claw back their spot in the market, BNB can fall back to $240 for a reliable support range. With the Consumer Price Index (CPI) data being rolled out next week, investors and traders should be prepared to deal with volatility as any movement in ETH will determine whether BNB will go up or down.  -Featured Image: CPA Practice Advisor

submitted by /u/Stdanc [link] [comments]

ApeCoin (APE) has been on the road to recovery since the last two months. According to CoinGecko, the token gained over 13% in the past month, ending the year on the spot with other gainers. But the token has depreciated by almost 5% in the past 24 hours, and trading at $3.96. This might set a precedent to what can happen in the next few weeks.  Related Reading: Cronos (CRO) Up 4% In Last Week Amid Recession Fears NFTs, Macros And What It Means For ApeCoin Recent events in the NFT space might have an effect on the already dwindling interest in nonfungible tokens. First, Nikhail Gopalani, COO of RTFKT, got his NFT collection phished from him. According to publicly available information, the total stolen was $173,000.  The next hack happened on January 4, when CryptoNovo lost over $618,000 worth of NFTs. This along with dwindling interest in NFTs will certainly have an effect on APE’s price. But with the token being part of the Bored Ape Yacht Club ecosystem, the effect might be dampened.  Lately, however, the token has been highly correlated with Ethereum which would determine where ApeCoin will go. Although ETH has appreciated in the past few days leading up to the Federal Open Market Committee (FOMC) Meeting Minutes, the U.S. Federal Reserve’s continued hawkish stance would make the broader financial system slip and tumble as fears of an oncoming recession grows. Any negative market movement would lead to pain in the crypto market, dragging ApeCoin down. This would also lead to capital flight, meaning that cash would exit the cryptocurrency market and enter safe-haven assets like gold or government bonds. Crypto total market cap at $775 billion on the daily chart | Chart: TradingView.com Bears And Bulls In Constant Tussle As the days go by, APE investors and traders should be able to breach the $4.19 resistance as a break through this level would give the bulls momentum for higher highs. However, with major headwinds and fear, uncertainty and doubt blocking the path of APE, this resistance might prove difficult to break.  Related Reading: BONK Goes Bonkers With Over 200% Increase In Last 24 Hours – Will This Save Solana? Image: Binance Academy Short-term, APE holders might see gains as the bulls remain on the market. But with that said, investors and traders should watch the release of the Consumer Price Index (CPI) data next week. This indicator would provide a clear picture on whether the U.S. central bank would increase interest rates further.  Any increase in interest rate would lead to the stocks and other riskier assets to drop, pushing APE towards the $3.422 support range.  Image: CoinCodex Investors and traders should be monitoring the release of the CPI data and how the broader financial market reacts to it. Any major long or short decisions should be made after these indicators are observed.  Meanwhile, the current ApeCoin price prediction made by CoinCodex suggests that the value of ApeCoin will increase by 7.90% and reach $4.28 by January 11 of this year. -Featured image: New Scientist

Canceled bonuses, pay disputes, massive layoffs and a communication blackout has been claimed as part of the goings-on at the crypto exchange.

Around $30 billion was invested into crypto and Web3 startups in 2022, but will it be repeated this year?