Crypto
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Biden expected to issue executive order on crypto and CBDCs next week: Report
The White House will reportedly be issuing an executive order as early as next week directing government agencies to study different aspects of the digital asset space with the goal of creating a comprehensive regulatory framework. In a Thursday report from Yahoo! Finance, Jennifer Schonberger said an official familiar with the matter within the Biden administration revealed the executive order could arrive as soon as next week. The directive from President Biden would reportedly order the Office of the Attorney General, the State Department, and the Treasury Department to study the potential rollout of a U.S.-issued central bank digital currency. In addition, the Director of the Office of Science and Technology Policy — the newly appointed Alondra Nelson — would provide an evaluation on t...
KuCoin partners with Chingari to attract talent across India
Leading crypto exchange KuCoin has partnered with video sharing app Chingari to launch the Chingari Star Contest, giving users a chance to win $GARI tokens worth INR 20 million, CoinText learned from a press release. The Chingari Star Contest was launched on February 15, 2022. It will continue for one month and the biggest winners will go home with huge prizes. Identifying talent across India The Star Contest seeks to identify talents from the remotest corners of the country and promote them. It is open to current and potential new users. The partnership with KuCoin helps attract attention to the app and opens up the contest to a wider market base and audience. Sumit Ghosh, CEO and co-founder of Chingari commented that his team hopes the contest will bring out the best in content cre...
Bitcoin ‘whales’ and ‘fishes’ pause accumulation as markets weigh March 50bps hike odds
An uptick in Bitcoin (BTC) supply to whales’ addresses witnessed across January appears to be stalling midway as the price continues its intraday correction toward $42,000, the latest data from CoinMetrics shows. Whales, fishes take a break from Bitcoin The sum of Bitcoin being held in addresses whose balance was at least 1,000 BTC came to be 8.10 million BTC as of Feb. 16, almost 0.12% higher month-to-date. In comparison, the balance was 7.91 million BTC at the beginning of this year, up 2.4% year-to-date. Bitcoin supply in addresses with balance greater than 1,000 BTC. Source: CoinMetrics, Messari Notably, the accumulation behavior among Bitcoin’s richest wallets started slowing down after BTC closed above $40,000 in early February. Their supply fluctuated with...
Bitcoin extends decline below $42K ahead of fresh Fed comments on inflation
Bitcoin (BTC) fell further with stocks on the Wall Street open Thursday as nervous markets awaited further U.S. economic policy cues and battled geopolitical tensions. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Macro conditions stay grim for stocks, crypto Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing the $42,000 mark for the first time in several days at the start of trading. The Fed and tensions over Ukraine had already formed a backdrop to lackluster market performance both in crypto and beyond, with that trend staying firmly in force on the day. With the likelihood increasing that a rate hike could come from the U.S. next month, attention was on James Bullard, president of the St. Louis Fed, ahead of a statement due less than an hour fr...
Binance stopped ‘all activities focused on Israel’ following regulatory request: Report
Major crypto exchange Binance has reportedly halted activities and marketing to Israelis following a request from one of the country’s financial regulators over licensing. According to a Thursday report from Israel-based news outlet Globes, the Capital Market, Insurance and Savings Authority requested Binance provide information on the services it was providing to Israelis as well as any licenses under which it operates. The regulator, responsible for handling licenses for crypto firms, reportedly never received an application from Binance allowing the exchange to do business in Israel. “Following the intervention of the capital market, Binance has at this stage stopped marketing to Israelis and all activities focused on Israel until we examine the issue of licensing,” said the Capit...
Sequoia Capital launches crypto fund worth up to $600M
American venture capital firm Sequoia Capital has launched a new cryptocurrency fund as part of its ongoing efforts to bootstrap the next generation of promising crypto-focused startups. Bloomberg reported Thursday that Sequoia is allocating up to $600 million towards the new sector-specific fund. Shaun Maguire, a partner at Sequoia, described crypto as a “megatrend over the next 20 years” and called it “the future of money.” The new crypto fund is part of three new sub-funds that were introduced by Sequoia on Thursday. The new funds, which operate under the Sequoia Capital Fund, will rely on capital that’s already committed by the firm’s limited partners. Sequoia is no stranger to the cryptocurrency market, having financed dozens of projects in the space. As Cointelegraph reported, Sequoi...
Crypto analyst predicts that March is likely to be bearish for Bitcoin
InvestAnswers host has observed that Bitcoin usually plunges 8.5 times out of 10 in March He contends that the coming Fed meeting and current global unrest could affect Bitcoin’s price A popular crypto analyst who hosts InvestAnswers, a YouTube channel on financial education, has told his subscribers how he expects the BTC market to play out in March. His projection was in response to a question from a follower who inferred to the analyst’s previous assertions that March is usually a bearish month for Bitcoin. The InvestAnswers host explained that Bitcoin typically posts a red candle in March a strong 8.5 times out of ten. The host noted that several factors could add to this historical pattern and destabilise Bitcoin in the coming month. Several factors hang in the balance A F...
Here’s why crypto analyst Nicholas Merten believes Bitcoin is prime to surge
Crypto analyst Nicholas Merten has said Bitcoin not falling below $30k was a better price-performance than anticipated Merten also predicted Bitcoin price could reach $200k by November Crypto analyst Nicholas Merten has reviewed his Bitcoin price targets, evaluating the path the world’s largest digital asset is likely to follow in the coming months. Speaking during a recent episode on his YouTube channel, Merten observed that Bitcoin’s progressive fall from an all-time high of 69k last November to less than half that price point (as low as $33,500) towards the end of January was not as bad as it could have gotten. The DataDash host observed that the token could have plunged below $30k, but traders have increasingly begun buying the dip much faster. He explained that traders are...
Social trading platform NAGAX launch date announced with $35K promotion prizes
The social trading platform, NAGAX has announced the official date for the launch of its trading platform. Pre-registration (whitelisting) is open and shall run until March 7th. NAGAX also announced the launch of its three promotional prizes that add up to $35,000 that will be given in form of rewards and airdrops to the participants of the pre-registration. The pre-registration is intended to give traders a chance of becoming the first to experience the features of the social trading platform. Promotion prizes The first promotion amounts to a total of $10,000 and shall be shared among the three topmost participants that shall help in promoting the NAGAX platform launch. Number one winner shall get $5,000, number two $3,000, and number three $2,000. The funds will be paid out in form of US...
Red Bull Racing Team scores a $150M multi-year deal with Bybit exchange
The multi-year agreement defines Bybit as a Principal Team partner As the ‘new’ Tech Incubator Partner, Bybit will push for sustainability, diversity, and inclusion The Red Bull Racing Formula 1 team revealed on Wednesday that it reached a $150 million agreement with Singapore-based crypto exchange Bybit. The deal is expected to run for three years, with the funding split evenly at $50 million annually. According to the press release, the deal also marks the “single largest per-annum cryptocurrency venture” within the international sporting space. Bybit will join the team as a principal team partner – a newly-introduced level of partnership for the team. Among other activities, the exchange will also become the sole cryptocurrency exchange partner and Oracle Re...
Fireblocks completes First DAG acquisition to extend its payment offering
This is Fireblocks’ first-ever acquisition Fireblocks aims to enhance its payment offerings to acquirers and payment service providers Crypto infrastructure provider Fireblocks revealed yesterday that it had completed a deal to acquire Israeli crypto payments processor First Digital Assets Group (First DAG). The acquisition of the digital asset payments technology platform is the first-ever Fireblocks has completed. First DAG employees absorbed into the firm as part of the agreement Though specifics were not revealed at the time of the announcement, Fireblocks said that the deal was completed in cash and stocks. Two sources familiar with the matter have indicated that the price could be in the region of $100 million. Fireblocks plans to expand its current payment offering to enable p...
Syndicate protocol helps create 450 new DAOs in just three weeks
Blockchain-based investing protocol Syndicate claims that 10% of all decentralized autonomous organizations (DAO) in existence have been created on its platform in less than three weeks of operation. Syndicate is a DAO creation platform that has landed investments from A13Z and Coinbase Ventures, among others. The team revealed the development in a Feb. 15 tweet. As of this morning, 10% of *all* DAOs have now been created on @SyndicateDAO. In less than 3 weeks And this is just the beginning. — Syndicate ✺ (@SyndicateDAO) February 14, 2022 Will Papper, co-founder of Syndicate explained to Cointelegraph today that the project had created 450 investment clubs as DAOs, which is just a little bit over 10% of the “best estimates” of 4227 DAOs in existence, based on DeepDAO’s metrics and figures ...
