Bitcoin Could Drop Another 20 – 40% On a US Recession – Crypto Analyst
Summary:
Timothy Peterson has forecasted that the United States might already be in a recession.If such is the case, the Bitcoin and crypto markets could drop by an additional 20 – 40%.Bitcoin’s 2017 all-time high of around $20k continues to be the make-or-break level.Bitcoin and crypto analyst, Timothy Peterson of Cane Island Alternative Advisors, has forecasted that the United States might already be in a recession. He shared his analysis of a possible slowdown in the US economy through the tweet below that quoted a CNBC article pointing out that the Atlanta Fed GDP tracker also hinted that the country was likely in a recession.
I'm happy that I was right 4 weeks in advance but not happy that I was right about the outcome. #recession https://t.co/J9R4yAPYbD pic.twitter.com/c3kO9JRNek
Summary:
Timothy Peterson has forecasted that the United States might already be in a recession.If such is the case, the Bitcoin and crypto markets could drop by an additional 20 – 40%.Bitcoin’s 2017 all-time high of around $20k continues to be the make-or-break level.Bitcoin and crypto analyst, Timothy Peterson of Cane Island Alternative Advisors, has forecasted that the United States might already be in a recession. He shared his analysis of a possible slowdown in the US economy through the tweet below that quoted a CNBC article pointing out that the Atlanta Fed GDP tracker also hinted that the country was likely in a recession.
I'm happy that I was right 4 weeks in advance but not happy that I was right about the outcome. #recession https://t.co/J9R4yAPYbD pic.twitter.com/c3kO9JRNek
Forwarded from CryptoSoul
Get a free NFT land in the new metauniverse RIGHT NOW!
Friends, last year we were actively working on our metauniverse Crypto Soul World. And now, it's time to announce the imminent launch of this ambitious project! Right now you can buy CSW token on PancakeSwap early presale. In a month this token will be added to centralized exchanges like Kucoin and Huobi, and in December we plan a listing on Binance.
CSW is a metauniverse utility token with which you can buy NFT land and NFT characters in Crypto Soul World universe. Details about the universe itself are still under wraps, but we will be publishing a Lite Paper very soon.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the metauniverse launch.
When the universe is launched, each CSW token holder will receive an NFT plot of land at the rate of 10 000 tokens = 1 NFT! For example, if you buy and hold 50 000 CSW tokens, you will receive 5 NFT when the metauniverse is launched!
Hurry up, only 800,000 tokens are available for sale right now. Max 80 NFT plots will be distributed among all presale participants.
The metauniverse is scheduled to launch on September 1.
Friends, last year we were actively working on our metauniverse Crypto Soul World. And now, it's time to announce the imminent launch of this ambitious project! Right now you can buy CSW token on PancakeSwap early presale. In a month this token will be added to centralized exchanges like Kucoin and Huobi, and in December we plan a listing on Binance.
CSW is a metauniverse utility token with which you can buy NFT land and NFT characters in Crypto Soul World universe. Details about the universe itself are still under wraps, but we will be publishing a Lite Paper very soon.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the metauniverse launch.
When the universe is launched, each CSW token holder will receive an NFT plot of land at the rate of 10 000 tokens = 1 NFT! For example, if you buy and hold 50 000 CSW tokens, you will receive 5 NFT when the metauniverse is launched!
Hurry up, only 800,000 tokens are available for sale right now. Max 80 NFT plots will be distributed among all presale participants.
The metauniverse is scheduled to launch on September 1.
pancakeswap.finance
Exchange | PancakeSwap
Trade, earn, and own crypto on the all-in-one multichain DEX
Forwarded from CryptoSoul
FREE NFT GIVEAWAY!
Less than a month remains before the public release of our metaverse Crypto Soul World. Upon release to centralized exchanges, the price of the CSW token will start at $0.5 per token. Now there is a presale of token on PancakeSwap exchange, only 800,000 tokens are sold now on special conditions for members of our community.
Everyone who buys 10,000 tokens on the PancakeSwap exchange and holds tokens by September 1 will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
Less than a month remains before the public release of our metaverse Crypto Soul World. Upon release to centralized exchanges, the price of the CSW token will start at $0.5 per token. Now there is a presale of token on PancakeSwap exchange, only 800,000 tokens are sold now on special conditions for members of our community.
Everyone who buys 10,000 tokens on the PancakeSwap exchange and holds tokens by September 1 will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
pancakeswap.finance
Exchange | PancakeSwap
Trade, earn, and own crypto on the all-in-one multichain DEX
Forwarded from CryptoSoul
Get a piece of NFT land in the Crypto Soul World metaverse!
Everyone who buys 10,000 tokens CSW on the PancakeSwap exchange and holds tokens till the 1st of September will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
Everyone who buys 10,000 tokens CSW on the PancakeSwap exchange and holds tokens till the 1st of September will receive 1 NFT value for every 10,000 tokens to their wallet.
Right now the price of a token is only $0.01 and continues to rise due to high demand.
1. Go to https://pancakeswap.finance/swap
2. Find a pair BNB/CSW (CSW contract address: 0xA62106602B7F0ced0101F497F60E5Ad7AAc3DCBE)
3. Swap 10 000 CSW tokens or more and hold it at your wallet until the project launch.
Metaverse Memecoin Tamadoge Secures $1M Midway Via Its Beta Sale
After 12 days of its beta sale, Tamadoge, the P2E metaverse meme coin, has raised $1 million. When the $2 million hard cap is reached, the beta sale will end before it is supposed to on August 31. It started on July 25. The TAMA token will be listed on the LBank exchange after the presale is over.
Tamadoge, unlike most meme coins,’ has been created with actual practicality in mind. It serves as the in-game currency for a platform with Tamadoge virtual pets. Tamadoges can be battled, bred, and levelled up by their owners. The app’s mobile “battle” beta release is anticipated for Q4 2022.
After 12 days of its beta sale, Tamadoge, the P2E metaverse meme coin, has raised $1 million. When the $2 million hard cap is reached, the beta sale will end before it is supposed to on August 31. It started on July 25. The TAMA token will be listed on the LBank exchange after the presale is over.
Tamadoge, unlike most meme coins,’ has been created with actual practicality in mind. It serves as the in-game currency for a platform with Tamadoge virtual pets. Tamadoges can be battled, bred, and levelled up by their owners. The app’s mobile “battle” beta release is anticipated for Q4 2022.
Cardano Creator Charles Hoskinson Warns That the White House’s New Crypto Proposals Pose Grave Threat to Bitcoin
Cardano (ADA) creator Charles Hoskinson is warning that new recommendations by the US government do not bode well for Bitcoin (BTC) and other crypto assets.
Taking issue with the recommendations of a new White House Office of Science and Technology Policy report that calls for the involvement of the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DoE) to create evidence-based environmental standards for the responsible design of digital assets, Hoskinson says the proposals could result in an outright ban of Bitcoin.
Cardano (ADA) creator Charles Hoskinson is warning that new recommendations by the US government do not bode well for Bitcoin (BTC) and other crypto assets.
Taking issue with the recommendations of a new White House Office of Science and Technology Policy report that calls for the involvement of the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy (DoE) to create evidence-based environmental standards for the responsible design of digital assets, Hoskinson says the proposals could result in an outright ban of Bitcoin.
Robinhood Working To Provide Transfers for Cardano (ADA) and All Other Crypto Assets on Its Platform
Retail trading giant Robinhood is working on enabling external transfers for the Ethereum (ETH) competitor Cardano (ADA).
The firm, which cited customer demand as its reason for listing the ADA earlier this month, is again listening to a customer request on Twitter to be able to transfer Cardano.
Retail trading giant Robinhood is working on enabling external transfers for the Ethereum (ETH) competitor Cardano (ADA).
The firm, which cited customer demand as its reason for listing the ADA earlier this month, is again listening to a customer request on Twitter to be able to transfer Cardano.
Massive Adoption: Mastercard To Help Banks Offer Crypto Trading Services In Partnership With Paxos
Payment giant Mastercard is joining hands with New York-headquartered blockchain tech firm Paxos to launch a program that will make it easier for traditional financial institutions to offer cryptocurrency trading by providing regulatory compliance and security.
Mastercard’s New Crypto Program For BanksMastercard is bringing crypto trading functionalities to banks with Paxos.
According to a Monday announcement, the global payments processing behemoth has launched a program called “Crypto Source” that will act as a bridge between Paxos and banks. Specifically, Paxos will provide crypto trading and custody services, while Mastercard will integrate these services into banks’ interfaces.
Payment giant Mastercard is joining hands with New York-headquartered blockchain tech firm Paxos to launch a program that will make it easier for traditional financial institutions to offer cryptocurrency trading by providing regulatory compliance and security.
Mastercard’s New Crypto Program For BanksMastercard is bringing crypto trading functionalities to banks with Paxos.
According to a Monday announcement, the global payments processing behemoth has launched a program called “Crypto Source” that will act as a bridge between Paxos and banks. Specifically, Paxos will provide crypto trading and custody services, while Mastercard will integrate these services into banks’ interfaces.
FTX Class Action Lawsuit Draws Renewed Scrutiny Over Crypto Endorsements
A number of FTX users have filed a class action complaint and demand for jury trial against founder and former CEO of FTX Sam Bankman-Fried (SBF) and a number of other defendants comprising of sports and entertainment celebrities like Tom Brady, Gisele Bundchen, Stephen Curry, Golden State Warriors, Shaquille O’Neal, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Lawrence Gene David, and Kevin O’Leary.
In the 41-page document, dated November 15, 2022, the plaintiffs stated that FTX, through false representations and deceptive conduct, took advantage of unsophisticated American investors resulting in damages of over $11 billion.
A number of FTX users have filed a class action complaint and demand for jury trial against founder and former CEO of FTX Sam Bankman-Fried (SBF) and a number of other defendants comprising of sports and entertainment celebrities like Tom Brady, Gisele Bundchen, Stephen Curry, Golden State Warriors, Shaquille O’Neal, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Lawrence Gene David, and Kevin O’Leary.
In the 41-page document, dated November 15, 2022, the plaintiffs stated that FTX, through false representations and deceptive conduct, took advantage of unsophisticated American investors resulting in damages of over $11 billion.
Is Crypto Firm Block Fi Next in Line to File Bankruptcy?
2022 has been an atrocious year for cryptocurrency. Many digital asset companies have been forced into dark places and filed for bankruptcy, and it looks like leading blockchain firm Block Fi might be next.
Things Aren’t Looking Good for Block FiThroughout 2022, the crypto space has been hit harder than it ever has in its short, 14-year history. Bitcoin, for example, has dropped from its all-time high of about $68,000 per unit – which it achieved in November of last year – and has fallen into the mid-$16K range at the time of writing. The world’s number one digital asset has lost more than 70 percent of its value, and overall, the digital currency space has shed more than $2 trillion in valuation.
Many digital currency companies have also up and vanished because they can no longer deal with ongoing speculation and volatility. Several firms – including the Celsius Network, Voyager Digital, Three Arrows Capital, and recently top exchange FTX – have all entered bankruptcy proceedings. It’s a sad and ugly sight to see, and one that’s instilling fear in traders’ hearts.
2022 has been an atrocious year for cryptocurrency. Many digital asset companies have been forced into dark places and filed for bankruptcy, and it looks like leading blockchain firm Block Fi might be next.
Things Aren’t Looking Good for Block FiThroughout 2022, the crypto space has been hit harder than it ever has in its short, 14-year history. Bitcoin, for example, has dropped from its all-time high of about $68,000 per unit – which it achieved in November of last year – and has fallen into the mid-$16K range at the time of writing. The world’s number one digital asset has lost more than 70 percent of its value, and overall, the digital currency space has shed more than $2 trillion in valuation.
Many digital currency companies have also up and vanished because they can no longer deal with ongoing speculation and volatility. Several firms – including the Celsius Network, Voyager Digital, Three Arrows Capital, and recently top exchange FTX – have all entered bankruptcy proceedings. It’s a sad and ugly sight to see, and one that’s instilling fear in traders’ hearts.
Gemini Crypto Exchange Dropped By Heavyweight Bank JP Morgan
Summary:
JP Morgan will no longer offer banking services to crypto exchange Gemini, CoinDesk reported citing sources familiar with the matter.The bank’s decision to cut ties with a crypto business is the latest in the so-called exodus of partnerships between crypto companies and their banking partners. Coinbase, another JP Morgan crypto customer, switched from Silvergate Bank to Signature Bank for USD deposits and withdrawals on Coinbase Prime.Banking juggernaut JP Morgan will no longer offer banking services to crypto exchange Gemini, CoinDesk reported on Wednesday citing sources familiar with the matter. The digital asset trading venue founded by Cameron and Tyler Winklevoss was one of two crypto businesses onboarded as customers in May 2020.
The bank’s decision to cut ties with a crypto business is the latest in the so-called exodus of partnerships between crypto companies and their banking partners. Coinbase, another JP Morgan crypto customer onboarded in 2020, switched from Silvergate Bank to Signature Bank for USD deposits and withdrawals on Coinbase Prime.
Summary:
JP Morgan will no longer offer banking services to crypto exchange Gemini, CoinDesk reported citing sources familiar with the matter.The bank’s decision to cut ties with a crypto business is the latest in the so-called exodus of partnerships between crypto companies and their banking partners. Coinbase, another JP Morgan crypto customer, switched from Silvergate Bank to Signature Bank for USD deposits and withdrawals on Coinbase Prime.Banking juggernaut JP Morgan will no longer offer banking services to crypto exchange Gemini, CoinDesk reported on Wednesday citing sources familiar with the matter. The digital asset trading venue founded by Cameron and Tyler Winklevoss was one of two crypto businesses onboarded as customers in May 2020.
The bank’s decision to cut ties with a crypto business is the latest in the so-called exodus of partnerships between crypto companies and their banking partners. Coinbase, another JP Morgan crypto customer onboarded in 2020, switched from Silvergate Bank to Signature Bank for USD deposits and withdrawals on Coinbase Prime.
Litecoin (LTC) Price Analysis: Bulls Continue to Struggle Near $100
Litecoin price is showing positive signs above $88 against the US Dollar, similar to Bitcoin. LTC price could climb further if there is a clear move above $95.
Litecoin Price AnalysisIn the past few sessions, there were mostly bullish moves in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC formed a base above the $87.50 level and started a fresh increase.
There was a clear move above the $90 and $92 resistance levels. However, the bears were active near the $95 resistance zone. A high was formed near $95.85 before there was a downside correction. The price declined below $90 and tested $89.85.
Litecoin price is showing positive signs above $88 against the US Dollar, similar to Bitcoin. LTC price could climb further if there is a clear move above $95.
Litecoin Price AnalysisIn the past few sessions, there were mostly bullish moves in Bitcoin, Ethereum, Ripple, and Litecoin against the US Dollar. Earlier, LTC formed a base above the $87.50 level and started a fresh increase.
There was a clear move above the $90 and $92 resistance levels. However, the bears were active near the $95 resistance zone. A high was formed near $95.85 before there was a downside correction. The price declined below $90 and tested $89.85.
Memecoin Frenzy: Justin Sun Joins Speculative Trading, Promises To Donate Profits To Charity
Summary:
Tron founder Justin Sun said he will “begin actively trading meme coins” as tokens like PEPE are all the rage at the moment.The crypto billionaire will trade with his public address and d to donate all his memecoin trading profits to charity.Sun reminded users that his personal decision is not an indicator that Huobi Global and Poloniex – two exchanges affiliated with Sun – will list these meme tokens.The memecoin hysteria flooding crypto markets gained another catalyst as a crypto mogul and blockchain founder declared trading plans.
Tron’s Justin Sun tweeted Thursday plans to “begin actively trading meme coins” as tokens like the Pepe The Frog-theme PEPE lit up crypto trading volumes and on-chain activity across the biggest blockchains on the market.
Summary:
Tron founder Justin Sun said he will “begin actively trading meme coins” as tokens like PEPE are all the rage at the moment.The crypto billionaire will trade with his public address and d to donate all his memecoin trading profits to charity.Sun reminded users that his personal decision is not an indicator that Huobi Global and Poloniex – two exchanges affiliated with Sun – will list these meme tokens.The memecoin hysteria flooding crypto markets gained another catalyst as a crypto mogul and blockchain founder declared trading plans.
Tron’s Justin Sun tweeted Thursday plans to “begin actively trading meme coins” as tokens like the Pepe The Frog-theme PEPE lit up crypto trading volumes and on-chain activity across the biggest blockchains on the market.
Fuck memecoins, says PSYCHO. Yep, you heard that right. Here's why it got our attention:
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
Stellar Lumen (XLM) Price Faces Uphill Task Near $0.086
Stellar lumen price is trading below $0.0880 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.0800 support.
Stellar Lumen Price Analysis (XLM to USD)After a sharp decline below $0.085, Stellar Lumen price struggled to gain bullish momentum against the US Dollar. The XLM/USD pair traded below the $0.0820 level to move further into a bearish zone.
A low was formed near $0.0786 before the price started an upside correction. There was a move above the $0.0800 and $0.0810 levels. The price climbed above the 23.6% Fib retracement level of the recent decline from the $0.0890 swing high to the $0.0786 low.
Stellar lumen price is trading below $0.0880 against the US Dollar, similar to Bitcoin. XLM price could extend losses if it trades below the $0.0800 support.
Stellar Lumen Price Analysis (XLM to USD)After a sharp decline below $0.085, Stellar Lumen price struggled to gain bullish momentum against the US Dollar. The XLM/USD pair traded below the $0.0820 level to move further into a bearish zone.
A low was formed near $0.0786 before the price started an upside correction. There was a move above the $0.0800 and $0.0810 levels. The price climbed above the 23.6% Fib retracement level of the recent decline from the $0.0890 swing high to the $0.0786 low.
US Debt Soars $210,000,000,000 in Two Weeks As Lawmakers Sound Alarm on Nation’s ‘Unsustainable’ Trajectory
The total amount of debt on America’s balance sheet is skyrocketing.
New numbers from the government’s FiscalData platform show that on July 13th, the country’s total public debt hit $32.542 trillion.
That’s $210 billion higher than just two weeks prior, and a staggering $2.03 trillion higher than one year ago.
The total amount of debt on America’s balance sheet is skyrocketing.
New numbers from the government’s FiscalData platform show that on July 13th, the country’s total public debt hit $32.542 trillion.
That’s $210 billion higher than just two weeks prior, and a staggering $2.03 trillion higher than one year ago.
Study: Bitcoin Ordinal NFT Sales Nosedive as Broader Market Cools
The buzz surrounding Bitcoin’s leap into the NFT world via Ordinals might be fleeting. A Dappradar study reveals that trading actions and sales figures for Bitcoin Ordinals have plummeted by a staggering 97% since their May 2023 zenith. This downturn mirrors a wider slowdown in the NFT sector. However, the slump in Bitcoin Ordinals is far more pronounced than in established networks such as Ethereum.
Bitcoin NFTs Face Crossroads: Ordinal Sales Decline Highlights Market Volatility and the Quest for Tangible UtilityAfter soaring to record levels this spring, the nascent market for Bitcoin-centric NFTs has hit a snag. By June and July, Bitcoin Ordinals reported a sharp drop in both sales and transactions, diving 97% and 98% from their May pinnacle. Dappradar’s analysis indicates that Ordinals trading dwindled from $452 million in May to a mere $3 million in early August.
There’s also been a sharp downturn in active participants in the Bitcoin NFT arena. The number of unique active Bitcoin wallet addresses plunged 90% from February to mid-August, dwindling from 79,261 to a scant 6,708. While Ethereum and Polygon have witnessed declines in active traders, their 22% and 60% reductions during the same timeframe seem trivial compared to Bitcoin’s dramatic downturn.
The buzz surrounding Bitcoin’s leap into the NFT world via Ordinals might be fleeting. A Dappradar study reveals that trading actions and sales figures for Bitcoin Ordinals have plummeted by a staggering 97% since their May 2023 zenith. This downturn mirrors a wider slowdown in the NFT sector. However, the slump in Bitcoin Ordinals is far more pronounced than in established networks such as Ethereum.
Bitcoin NFTs Face Crossroads: Ordinal Sales Decline Highlights Market Volatility and the Quest for Tangible UtilityAfter soaring to record levels this spring, the nascent market for Bitcoin-centric NFTs has hit a snag. By June and July, Bitcoin Ordinals reported a sharp drop in both sales and transactions, diving 97% and 98% from their May pinnacle. Dappradar’s analysis indicates that Ordinals trading dwindled from $452 million in May to a mere $3 million in early August.
There’s also been a sharp downturn in active participants in the Bitcoin NFT arena. The number of unique active Bitcoin wallet addresses plunged 90% from February to mid-August, dwindling from 79,261 to a scant 6,708. While Ethereum and Polygon have witnessed declines in active traders, their 22% and 60% reductions during the same timeframe seem trivial compared to Bitcoin’s dramatic downturn.
Kirsten Gillibrand Trying To Convince Other Democrats of Better Crypto Regulation: Report
US Senator Kirsten Gillibrand is reportedly attempting to convince her fellow Democrats to support legislation to increase regulatory clarity for cryptocurrencies.
In a new interview with Fortune, the New York Senator says that she’s hopeful that she can have her bi-partisan cryptocurrency bill heard by a key senate committee.
US Senator Kirsten Gillibrand is reportedly attempting to convince her fellow Democrats to support legislation to increase regulatory clarity for cryptocurrencies.
In a new interview with Fortune, the New York Senator says that she’s hopeful that she can have her bi-partisan cryptocurrency bill heard by a key senate committee.
The Clock Ticks for Sam Bankman-Fried: Countdown to a Crypto Mogul’s Day of Reckoning
A jury has unanimously convicted Sam Bankman-Fried on a slew of charges, encompassing wire fraud, conspiracy to engage in wire fraud, and money laundering among the seven counts. The following is an in-depth look at what will happen between now and Bankman-Fried’s sentencing, which is scheduled for March 28, 2024.
Before the Gavel — What Lies Ahead Until Sentencing Day?A significant turning point occurred last year on November 2, 2022, when an article scrutinizing Alameda Research’s financial status was published. This event marked the beginning of a dramatic downfall for Sam Bankman-Fried, the former crypto magnate, who now confronts a daunting 100-year prison sentence, having been found guilty of seven charges leveled against him by the U.S. government.
Before FTX’s collapse, the company successfully secured a substantial $1.8 billion in total funding, with a $400 million influx during a Series C funding round mere months before its demise. FTX’s estimated valuation stood at approximately $32 billion prior to the unfolding calamity. That all changed on November 2, 2022, when Coindesk reporter Ian Allison published a story about FTX, Bankman-Fried, and his quantitative trading firm Alameda Research.
A jury has unanimously convicted Sam Bankman-Fried on a slew of charges, encompassing wire fraud, conspiracy to engage in wire fraud, and money laundering among the seven counts. The following is an in-depth look at what will happen between now and Bankman-Fried’s sentencing, which is scheduled for March 28, 2024.
Before the Gavel — What Lies Ahead Until Sentencing Day?A significant turning point occurred last year on November 2, 2022, when an article scrutinizing Alameda Research’s financial status was published. This event marked the beginning of a dramatic downfall for Sam Bankman-Fried, the former crypto magnate, who now confronts a daunting 100-year prison sentence, having been found guilty of seven charges leveled against him by the U.S. government.
Before FTX’s collapse, the company successfully secured a substantial $1.8 billion in total funding, with a $400 million influx during a Series C funding round mere months before its demise. FTX’s estimated valuation stood at approximately $32 billion prior to the unfolding calamity. That all changed on November 2, 2022, when Coindesk reporter Ian Allison published a story about FTX, Bankman-Fried, and his quantitative trading firm Alameda Research.
5 Super Bullish Factors Positioning Cardano Ecosystem For Massive 100% Upsurge To $1 ADA Price
Cardano (ADA) has been making some serious moves lately, and it seems the project is finally on track for a major breakout. The price movement of ADA is highly similar to its trajectory from 2018 to 2020, with one key difference – the absence of the pandemic. This has led many analysts to predict that ADA could be gearing up for a significant rally in the coming weeks.
As of writing, ADA is trading at 0.54, up by over 20% in the past week alone. This impressive surge has caught the attention of many investors and traders, who are eagerly anticipating the next move for this top 10 cryptocurrency. With a market cap of over $18 billion, ADA is currently ranked as the 8th largest cryptocurrency by market capitalization.
Cardano (ADA) has been making some serious moves lately, and it seems the project is finally on track for a major breakout. The price movement of ADA is highly similar to its trajectory from 2018 to 2020, with one key difference – the absence of the pandemic. This has led many analysts to predict that ADA could be gearing up for a significant rally in the coming weeks.
As of writing, ADA is trading at 0.54, up by over 20% in the past week alone. This impressive surge has caught the attention of many investors and traders, who are eagerly anticipating the next move for this top 10 cryptocurrency. With a market cap of over $18 billion, ADA is currently ranked as the 8th largest cryptocurrency by market capitalization.
Heightened Bitcoin Fees and Erratic Mining Revenues Herald Murky Shift as Halving Nears
Recent statistics reveal that for the past 75 days, starting from Nov. 6, 2023, the average transaction fee on the Bitcoin network has consistently stayed over $5. Additionally, since Dec. 4, 2023, these fees have predominantly been over $10, with a single exception occurring when it briefly fell to $8.33 per transaction.
Bitcoin Miners Face Complex Dynamics in 2024 Ahead of Halving EventIn 2024, the cost of the average onchain transaction fees has surged compared to the previous year. Over the last 46 days, these fees have consistently exceeded $10 per transaction, with the sole exception being Jan. 13, 2024, when they momentarily dipped to $8.33. Throughout January this year, miners have amassed over $800 million in a combination of new BTC and transaction fees.
Over the last 46 days, median transaction fees on the Bitcoin network have consistently stayed above $3. Despite January showing stronger performance compared to most months in 2023, the recent decline in bitcoin’s value has impacted miner revenues. This downturn follows the mass approval of 11 spot bitcoin exchange-traded funds, leading to a bearish trend in BTC’s spot market behavior.
Recent statistics reveal that for the past 75 days, starting from Nov. 6, 2023, the average transaction fee on the Bitcoin network has consistently stayed over $5. Additionally, since Dec. 4, 2023, these fees have predominantly been over $10, with a single exception occurring when it briefly fell to $8.33 per transaction.
Bitcoin Miners Face Complex Dynamics in 2024 Ahead of Halving EventIn 2024, the cost of the average onchain transaction fees has surged compared to the previous year. Over the last 46 days, these fees have consistently exceeded $10 per transaction, with the sole exception being Jan. 13, 2024, when they momentarily dipped to $8.33. Throughout January this year, miners have amassed over $800 million in a combination of new BTC and transaction fees.
Over the last 46 days, median transaction fees on the Bitcoin network have consistently stayed above $3. Despite January showing stronger performance compared to most months in 2023, the recent decline in bitcoin’s value has impacted miner revenues. This downturn follows the mass approval of 11 spot bitcoin exchange-traded funds, leading to a bearish trend in BTC’s spot market behavior.