Kraken Has No Plans To Delist Tether’s USDT From European Crypto Exchanges, According to Executive
An executive of US-based crypto exchange Kraken is denying previous reports that the company is planning to pull the plug on leading stablecoin Tether (USDT) in the European Union (EU). Reports of Kraken reviewing its USDT support come amid concerns that the EU may ban the largest stablecoins – USDT, USDC, and BUSD because they […]
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Institutions Pour $932,000,000 Into Crypto Products Amid Prospect of Interest Rate Cuts: CoinShares
Digital assets manager CoinShares says institutions poured nearly a billion dollars into crypto products last week in response to Consumer Price Index (CPI) data. In its latest Digital Asset Fund Flows report, CoinShares says digital asset investment products raked in $932 million in net inflows last week despite trading volumes being down approximately 75% from March. […]
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Bitcoin price tops $68K, but a few concerning headwinds remain
Bitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are still in play.
Bitcoin (BTC) last closed above $68,000 on April 11, despite trading above $67,000 several times in the past five days. Even as Bitcoin gained 2% on May 20, another 7% move is needed to meet its all-time high. Meanwhile, gold reached a record high of $2,450 on May 20, and the S&P 500 index climbed to its all-time peak of 5,325 points. This backdrop has left BTC investors pondering the factors restraining its progress.
It can be argued that Bitcoin’s 51% gains year-to-date reflect investors’ anticipation of the monetary expansion that has recently benefited other assets. With the United States Federal Reserve needing to inject liquidity — either to support the troubled banking sector or to stimulate the economy — investors typically turn to scarce assets for protection. This inclination intensifies if there is an increasing likelihood of an economic recession.
According to UFed data, the broader U.S. monetary base (M2), which had stagnated at $20.8 trillion since May 2023, surpassed $21.0 trillion in April 2024. This shift marks the end of a contraction period that began in April 2022 when the M2 indicator reached $22 trillion. Regardless of interest rate trends, the increase in circulating money suggests rising inflationary pressures, even if companies and individuals are currently hesitant to spend.
US House to vote on FIT21 bill before holiday weekend
The legislation, passed out of committee in July 2023, would clarify how the U.S. Commodity Futures Trading Commission and Securities and Exchange Commission handle crypto.
Republican lawmakers in the United States House Financial Services Committee announced that the House of Representatives will vote on legislation clarifying the roles of financial regulators over digital assets sometime this week.
In a May 20 X post, House Republicans said the full chamber will vote on the Financial Innovation and Technology for the 21st Century (FIT21) Act “this week,” giving the bill a chance to become law. The legislation would clarify how the U.S. Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) regulate digital assets.
The legislation has seen little movement since lawmakers passed the FIT21 bill out of the House Financial Services Committee in July 2023. In May, Committee Chair Patrick McHenry said the House Committee on Rules could clear the bill for a vote in the full chamber.
Trader Says One Crypto Narrative Even Bigger Than AI, Predicts ‘Biggest Altcoin Season Ever’
A closely followed crypto trader believes there is a stronger bullish market narrative for digital assets than artificial intelligence (AI) that could send altcoins to new all-time highs (ATHs). Pseudonymous trader Criptopaul tells his 105,900 followers on the social media platform X that real-world asset (RWA) tokenization has the potential to send altcoins soaring in […]
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62 Crypto Projects Raise $474M in 20 Days, Led by Sophon and Securitize
According to the latest data, 62 blockchain or cryptocurrency projects have collectively raised $474 million over the past 20 days of May. Leading the charge, the entertainment-focused blockchain project Sophon garnered $60 million in a node sale, with Securitize following closely, raising $47 million. May Sees $474M Invested in Blockchain Startups Since the start of […]Grayscale appoints Goldman Sachs exec as new CEO
Grayscale names Goldmans Peter Mintzberg as new CEO, replacing Michael Sonnenshein.
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Cryptomus Shakes Up Crypto: Unveils Fee-Free iOS App and Launches Rewarding CRMS Token
PRESS RELEASE. In a bold move that disrupts the digital currency space, Cryptomus has unveiled its much-anticipated iOS application, a comprehensive solution for crypto enthusiasts seeking a seamless, fee-free trading experience. This innovative app, now available on the App Store, enables users to store, withdraw, and convert cryptocurrencies without any fees, make payments, and monitor […]Largest US Hedge Funds Collectively Own Over $2,600,000,000 in Bitcoin ETF Shares: BTC Brokerage Firm River
New data from Bitcoin brokerage firm River reveals that the largest US hedge funds have combined to accumulate billions of dollars worth of BTC exchange-traded (ETF) shares. In a new thread on the social media platform X, River says that even though BTC’s market cap is relatively small, many of the largest hedge funds in […]
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‘Really Stupid and a Huge Mistake:’ Putin Blasts US Actions Blocking Payments to China; Exporters Turn to Small Banks and Crypto
Russian President Vladimir Putin charged against the U.S. actions seeking to block Russian payments to China and other countries. During a two-day trip to China, the Russian leader emphasized that this strategy was “really stupid and a huge mistake,” considering that these actions affected the status of the U.S. dollar as a reserve currency. Russian […]The Week’s Biggest Crypto Gainers and Losers: PENDLE Soars, WLD Plummets
This week bitcoin appreciated over 6% against the U.S. dollar, while ether increased more than 3% in the same period. Meanwhile, more than twelve alternative cryptocurrencies saw double-digit gains between 10% and 33.4%. Weekly Crypto Highlights: Double-Digit Gains and Losses Across the Board As of Monday, the total value of the crypto economy stands at […]
Genesis settles for $2 billion in New York AG crypto case
NY Attorney General Letitia James secures a $2 billion settlement with Genesis to repay investors and establish a Victims Fund.
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Dormant Bitcoin Wallet Transfers 114 BTC Worth $7.6M After 11 Years
With bitcoin’s price up 6.8% from last week, a dormant bitcoin address from 2013 became active for the first time in over 11 years, transferring 114.42 bitcoins valued at $7.67 million. Sleeping Bitcoin Wallet Awakens After 11 Years, Moves 114 Bitcoins April and May have seen fewer awakenings of long-dormant bitcoin addresses, but some noteworthy […]Bonk Up 20% in a Week as New Solana Meme Coin SEAL Nears $2M
Meme coins are back in the spotlight again, and Bonk (BONK) is leading the charge. The Solana-based token has rallied 20% in the past week and is now trading around the $0.0000257 level. Alongside BONK, presale project Sealana (SEAL) is also seeing growth – nearing the $2 million milestone in its much-discussed presale phase. Bonk […]Meme coin trading volume skyrocket despite market turbulence
Meme coins are outperforming in the market with robust trade volumes and returns, despite a general downturn in crypto assets in the past few days.
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Crypto Analyst Predicts Ethereum Season, Says Solana Following in Footsteps of ETH’s 2021 Market Cycle
A popular crypto analyst says that it’s likely Ethereum’s (ETH) time to shine and that its biggest rival is in for a parabolic run. Pseudonymous trader Inmortal tells his 213,900 followers on the social media platform X that Ethereum will rally and leave many traders on the sidelines. The analyst lays out an initial target […]
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Judge Rules Craig Wright Lied ‘Extensively,’ Committed Forgery in Bid to Claim Satoshi Identity
On May 20, 2024, a ruling was delivered by Justice James Mellor in the COPA vs. Craig Wright case. Mellor determined that Wright lied “extensively and repeatedly” in his efforts to prove he was Satoshi Nakamoto. Mellor emphasized that Wright’s evidence was “at best questionable or of very dubious relevance or entirely circumstantial and at […]Bullish signal: nearly 28,000 BTC left centralized exchanges in 7 days
Investors withdrew 27,975.21 BTC from exchanges, signaling confidence in Bitcoin’s future as market recovery prompts bullish behavior.
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Grayscale Leadership Change: Sonnenshein Steps Down — Goldman Sachs’ Peter Mintzberg Appointed New CEO
Crypto asset manager Grayscale Investments has appointed Peter Mintzberg as CEO, effective August 15, 2024. Mintzberg, currently Global Head of Strategy for Asset and Wealth Management at Goldman Sachs, will also join Grayscale’s Board of Directors. He succeeds Michael Sonnenshein, who steps down to pursue other interests. CFO Edward McGee will serve as interim principal […]Ethereum Technical Insights: ETH Crosses $3,100 Mark for the First Time in 21 Days
Ethereum’s price has been exhibiting a narrow intraday range between $3,048 and $3,139. With a market capitalization of $373 billion and a 24-hour trading volume of $9.83 billion, the cryptocurrency shows a mixed technical outlook. At 7:57 (EDT) on Monday, ether is exchanging hands for just under $3,100 at $3,093 per unit. Ethereum The hourly […]
Ethereum funds face $23 million in outflows amid ETF uncertainty
Ethereum funds record $23M in outflows as investor sentiment shifts with US ETF approval looking increasingly uncertain.
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Accelerating new listings at Kraken
Kraken is excited to announce that we’re accelerating our new asset listing process. We’ve created a new listings page to standardize our listing process for project teams and deliver greater transparency into our asset listing roadmap for the crypto community. We’ve also simplified the application form, enabling teams to easily articulate their projects’ key characteristics […]
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Bitcoin Technical Analysis: Bulls Push Forward, Breaking Upper Resistance Levels
As of May 20, 2024, bitcoin is trading at $67,224, reflecting a strong market performance. The cryptocurrency has experienced a 24-hour range between $66,000 and $67,431, with a market capitalization of $1.32 trillion and a trading volume of $21.18 billion. Bitcoin The daily chart indicates that bitcoin (BTC) is in a prolonged uptrend, having recently […]Whales Accumulate Over $16,781,000,000 in Bitcoin Since ETF Launch As BTC Enters Institutional Era: IntoTheBlock
New data from market intelligence firm IntoTheBlock reveals that deep-pocketed crypto investors have accumulated tens of billions of dollars worth of Bitcoin since BTC exchange-traded funds (ETFs) launched in January. In a new article, IntoTheBlock says that the top crypto asset by market cap’s era of institutional adoption is here as crypto whales have gobbled […]
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Nigerian Securities Regulator: Crypto Exchanges Complying With Naira Delisting Directive
The Nigerian Securities Regulator has stated that cryptocurrency exchanges have complied with a directive to remove the local currency from peer-to-peer platforms. The acting director-general of the Nigerian Securities and Exchange Commission has called on platforms engaged in practices that undermine the national interest to cease such activities. Kucoin’s Delisting of Naira Receives Praise The […]Binance Research estimates token unlocks to reach $155 billion by 2030
The trend of launching crypto tokens with low floats and high fully diluted valuations (FDVs) poses significant challenges for sustainable growth, driven by VC funding and upbeat market sentiment.
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Balaji Srinivasan Highlights China’s Dedollarization and Envisions Post-Dollar Economy
Balaji Srinivasan, former CTO of Coinbase, recently shared his insights on the global economy and the future of the U.S. dollar on social media. He discussed the concept of dedollarization, suggesting that China and other countries are moving away from U.S. debt and investing in gold instead. He argued that this shift could potentially lead […]Veteran Trader Peter Brandt Says Peter Schiff Criticizes Bitcoin to Attract Attention, Increase Following
Veteran trader Peter Brandt has accused economist and gold advocate Peter Schiff of leveraging his criticisms of bitcoin to garner attention and increase his social media following. However, Schiff countered, asserting that he is simply offering his candid perspective on the investment risks associated with bitcoin. Peter Schiff’s Bets on Dead Horses Veteran trader Peter […]Top Analyst Flips Bearish on Pepe (PEPE), Warns Popular Memecoins Will Witness Over 80% Correction
An analyst who rode the 2023 crypto breakout thinks that memecoin Pepe (PEPE) is headed to much lower levels. Pseudonymous analyst DonAlt tells his 553,800 followers on the social media platform X that PEPE appears to have made a false breakout to new all-time highs before sellers pushed the price below its range high of […]
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Nigerian Currency Slides 5% After Central Bank Injects More Than $80 Million Into Forex Market
The Nigerian naira continued with a downward which recently saw it being named the worst-performing currency when it slid by just over five per cent to erase the previous day’s gains. The naira’s depreciation is said to have occurred just a day after the central bank intervened by injecting between $80 million and $100 million. […]