The deserts of the Middle East are experiencing a new kind of gold rush – a digital one. Cryptocurrency markets and investments are exploding in popularity, with the region witnessing a surge in daily traders and a growing embrace of crypto-friendly regulations. Related Reading: Sam Bankman-Fried Turns Rat, Cooperates In Lawsuit Vs. FTX Celebrity Backers […]
Could a recent US criminal court case involving digital assets trading be helpful to Coinbase in its defense against the SEC? Last week, Avraham Eisenberg was convicted in a groundbreaking case on digital asset commodities fraud for manipulating Mango Markets to illicitly withdraw $110 million. On October 11, 2022, Eisenberg manipulated the price of futures […]
The post Could Esienberg commodities conviction be smoking gun for Coinbase against SEC? appeared first on CryptoSlate.
The latest price moves in bitcoin (BTC) and crypto markets in context for April 23, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
The decentralized cloud computing company also announced its ‘Akash summit’ on Monday, which will take place before Consensus.
Ripple said in a filing that the SEC’s “Draconian remedial requests” do not have grounds in law or principle.
Amidst a rather quiet altcoin market, Akash Network (AKT) has emerged as today’s standout performer among the top 100 cryptocurrencies by market capitalization, recording a significant 46% increase in price over the past 24 hours. This surge has propelled AKT to the forefront, well ahead of its peers such as Core (CORE) and Arweave (AR), which posted gains of 7% and 6%, respectively. As of this writing, AKT is trading at $6.03. This increase in price has pushed its market cap to approximately $1.4 billion, positioning it as the 68th-largest cryptocurrency. Additionally, Akash Network’s trading volume has seen a dramatic rise of 2,790%, reaching $116 million today. Earlier today, AKT reached a new all-time high of $6.84 on the cryptocurrency exchange Kraken, though it has since adjusted to around $6.03, below its previous peak of $6.49. Catalysts For The Akash Network Surge The primary driver behind today’s price escalation appears to be an announcement from Upbit, a major South Korean cryptocurrency exchange. Upbit has confirmed that it will list AKT, offering trading pairs in South Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) starting at 10:00 UTC today. Related Reading: Akash Who? Lesser-Known Altcoin Rules Weekend’s Top 100 List With 40% Rally Further fueling investor interest, data from Santiment, a market intelligence platform, shows that Akash Network’s social media volume has spiked by 200% in the last 24 hours. This surge in social activity, predominantly on platforms like Reddit and Bitcointalk, has played a significant role in AKT’s market performance. Future Price Trajectory Looking ahead, if AKT’s price can record a daily close above the previous all-time high of $6.49 (set on March 11, 2024) today, the next target could be $7.46, corresponding to the 1.272 Fibonacci extension of the overarching price movement. Should the buying pressure continue, a move towards $8.64, marked by the 1.618 Fibonacci extension, might be on the horizon. Here, traders should anticipate potential profit-taking. A breakthrough beyond this level could pave the way to medium-term targets at $10.92 (2.272 Fibonacci extension) and potentially even $12.13 (2.618 Fibonacci projection), contingent on continued bullish sentiment across the broader crypto market. Related Reading: AI Crypto Tokens Like Render, WorldCoin Are ‘Overvalued’: Coinbase Research Conversely, if AKT fails to uphold its new highs and closes below $6.48, a downward correction towards the $5.74 zone (0.786 Fibonacci level) could occur, where new buying opportunities might arise. A further dip below this level could see retests of the $5.16 (0.618 Fibonacci level) and $4.75 (0.5 Fibonacci level) support zones. The trajectory of AKT, like that of many cryptocurrencies, could be influenced by broader market conditions, including potential downturns triggered by accelerating US inflation, the US Fed’s favorite inflation gauge, the Personal Consumption Expenditures Price Index (PCE) is set for release on Friday, April 26, or other macroeconomic factors. Nevertheless, the 200-day exponential moving average (EMA), currently at $3.24, remains the most critical long-term support level for AKT. Featured image from MetaNews, chart from TradigView.com
The Philippines' securities regulator has ordered Apple and Google to remove Binance from their app stores.
The post Philippine SEC orders removal of Binance from Google and Apple app stores appeared first on Crypto Briefing.
Some of Europe's largest banks are developing crypto solutions thanks to the regulatory clarity provided by the MiCA framework.
Venezuela's PDVSA shifts to crypto, using USDT for oil trades as a sanction evasion strategy, according to a new report.
The post Venezuela turns to crypto for oil trades under renewed US sanctions: Reuters appeared first on Crypto Briefing.
Following the much-awaited fourth Bitcoin Halving, cryptocurrency hedge fund QCP Capital becomes a lighthouse of knowledge, providing an in-depth analysis of what the post-halving landscape could hold in store in the short term. Bitcoin Bulls To Hold Larger Long Position Post-Halving In a Monday broadcast on Telegram, QCP offered a comprehensive analysis that explores the […]
The post From Ripple To Ethereum: Understanding What The SEC Is Trying To Do With The Regulations appeared first on Coinpedia Fintech News
In a recent interview with Thinking Crypto, Bill Hughes, the Senior Counsel and director of Global Regulatory Matters at Consensys, opened up about Ethereum, how it was seen differently before, and how now it’s getting confusing with what the SEC thinks about it. There’s talk about subpoenas to the Ethereum Foundation and worries that it …
DePIN projects Akash Network and Zebec Network have seen their AKT and ZBC tokens score massive double-digit gains in the past day.
The 200-day simple moving average is one of the most widely tracked indicators of the long-term trend.
The post The Ultimate Guide to Overcoming Impulsiveness in Crypto Trades appeared first on Coinpedia Fintech News
For crypto traders, impulsive trading and greed pose significant risks. Impulsive trading refers to making quick decisions without careful consideration, often driven by emotions rather than analysis. Greed, on the other hand, involves an insatiable desire for more profits, leading to reckless actions. Ignoring these dangers can lead to failure. By understanding the detrimental effects …
The Philippines SEC mandates the removal of the Binance app from Google and Apple stores in the country citing security threats to investors and, potentially, the local economy.
The post Stay Ahead in Crypto Trading: Harnessing the Power of Discipline appeared first on Coinpedia Fintech News
Cryptocurrency markets can be wildly unpredictable, catching many traders off guard. Ignoring this reality, traders often make impulsive decisions, leading to significant losses. To navigate the tumultuous waters of crypto trading safely, discipline is key. In this article, we delve into the crucial concept of trading discipline. By adhering to disciplined strategies, traders can mitigate …
The legal battle between Ripple and the Securities and Exchange Commission (SEC) is getting heated and, following recent developments, looks far from over. This is due to the disagreement between both parties on the appropriate remedy for Ripple’s violation of securities laws. Ripple Proposes $10 Million Fine Instead In opposition to the SEC’s motion for remedies and entry of final judgment, Ripple has proposed that the court should not impose a civil penalty of not more than $10 million. This figure represents a far cry from the SEC’s proposed judgment. The Commission had earlier asked the court to order Ripple to pay the sum of $1,950,768,364 as a pecuniary fine for violations relating to its institutional XRP sales. Related Reading: Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here’s The Target Specifically, the SEC proposed that Ripple pay a civil penalty of $876,308,712 alongside a prejudgment interest of $198,150,940 and disgorgement of $876,308,712, which represents the profits from its violation of the Securities Act. However, Ripple asked the court to deny the requests for disgorgement and pre-judgment interest and only focus on the civil penalty, which shouldn’t be more than $10 million. Ripple’s lawyers also laid out arguments as to why the civil penalty should not exceed $10 million. Firstly, they stated that the first tier of the statutory maximum penalties is what applies to this case “because the SEC has never alleged fraud, deceit, or manipulation and has failed in its belated attempt to show that Ripple recklessly disregarded the law.” Therefore, Ripple argued that the Commission’s request for a civil penalty of over $876 million isn’t the appropriate remedy for the first-tier structure. They added that the company’s revenue from pre-complaint institutional sales should be the only earnings considered when deciding on a remedy, which makes a civil penalty of not more than $10 million more appropriate. Accounting Error From The SEC Ripple suggested that the SEC made an error in calculating the company’s earnings while deciding on the right amount for which the crypto firm should be fined. According to the company’s lawyers, the Commission failed to “analyze or even consider any other categories of Ripple’s expenses.” Meanwhile, they allege that the SEC didn’t offer any evidence or explanation “for why cost if revenue is the only category of Ripple’s deductible expenses.” Simply put, Ripple argues that the regulator, while calculating Ripple’s earnings, didn’t consider how much the company expended before deciding that almost $2 billion was an appropriate fine. Ripple’s lawyers made this argument while stating that the SEC also erred in relying on the declaration of Andrea Fox, an accountant at the agency. They claim that the SEC never disclosed Fox as a fact or expert witness and that she wasn’t deposed during the initial discovery or supplemental remedies discovery. Therefore, they moved to strike her declaration as an “untimely disclosed expert report.” Ripple Also Opposes SEC’s Proposed Injunction As part of its entry for final judgment, the SEC had asked the court to “permanently” restrain and enjoin Ripple from “directly or indirectly conducting an unregistered offering of Institutional Sales.” Understanding how this could affect their ODL transactions, Ripple has asked the court to deny the request for an injunction. Related Reading: 3 Major Metrics To Watch Out For That Can Impact Ethereum Prices The crypto firm argues that the Commission has failed to show why an injunction is warranted. Injunctions are usually granted when there is a fear of future violations. Ripple claims that the SEC has failed to show a “reasonable likelihood of future violations.” The crypto firm’s lawyers further revealed that Ripple has “changed the way it sells XRP and changed its contracts to avoid any future violations.” To show good faith, they submitted a declaration by Ripple’s President, Monica Long, which describes the steps the company has taken to avoid future violations. XRP price recovers above $0.54 | Source: XRPUSDT on Tradingview.com Featured image from Coinpedia, chart from Tradingview.com
Crypto company Ripple has responded to the Securities and Exchange Commission’s (SEC) pursuit of nearly $2 billion in fines by advocating for a different approach. In a court filing dated April 22, Ripple proposed that the Court reject the SEC’s demands and instead impose a civil penalty not exceeding $10 million. Stuart Alderoty, Ripple’s Chief […]
The post Ripple challenges SEC’s $2 billion fine, proposes $10 million settlement instead appeared first on CryptoSlate.
Amended PayPal policies excluding NFTs from buyer and seller protection coverages will take effect on May 20.
Arkham Research tagged and notified wallet owners to look at these addresses and retrieve their funds, which have been stuck for months.
The post The Psychology Behind Crypto Trading: An Simple Introduction appeared first on Coinpedia Fintech News
Many cryptocurrency traders overlook the role emotions play in trading. They believe learning about crypto trading psychology is unnecessary. Meanwhile, experienced traders emphasise its significance, as it distinguishes successful from unsuccessful traders. Undisputedly, to excel in crypto trading, one must comprehend trading psychology. This article offers a concise overview, highlighting key points. Let’s explore this …
DYDX also has a large unlock scheduled but is not experiencing the same pricing pressure.
Charles Hoskinson, the founder of Cardano, has expressed his enthusiasm for the formation of PRAGMA, a new independent open source association. This initiative marks a pivotal move towards achieving global scalability—a goal that Cardano aims to fulfill as it endeavors to become the financial operating system of the world. Cardano Makes Crucial Step Forward During […]
Telegram’s integration of the TON blockchain and its native Toncoin token has become a honeypot for scammers promoting a referral pyramid scheme.
The post Top Meme Coins To Buy Post Halving For 10X Jump appeared first on Coinpedia Fintech News
With the rising demand for low-cap altcoins, meme coins are making the must-buy lists of retail investors. Further, known for sharp and huge price pumps, meme coins are the go-to choice in the crypto industry for massive returns. In the sea of such community and hype-driven altcoins, some display a stronger setup with higher possibilities …
The post Binance Sued in Canada: Ontario Court Files Class Action Lawsuit Over Crypto Derivatives appeared first on Coinpedia Fintech News
Binance is facing yet another regulatory scoop! In a recent landmark decision, Ontario’s Superior Court of Justice has given the green light to a class action lawsuit against Binance Holdings Ltd., a major player in the world of cryptocurrency trading. Binance once Again in a Regulatory Tug-of-War The lawsuit alleges Binance violated securities laws by …
The Bitcoin volatility indicator suggests that BTC price action is due for a breakout as it returns to levels last seen in mid-February.
Solana memecoin pre-sales have rugged investors of over $25 million within the past month as more than 50% of the top projects were abandoned, with some never even launching a token. Solana Co-Founder Anatoly Yakovenko retained his negative stance on the phenomena, commenting, “Pre selling a meme doesn’t make any sense to begin with.” At […]
The post Over 50% of pre-sold Solana memecoins abandoned within 1 month after $25 million raise appeared first on CryptoSlate.
Even after Binance announced its departure from Canada in May 2023, local authorities have continued to investigate the exchange.
Derivatives exchange Deribit is the first to integrate FalconX’s Prime Connect.