Following the issuer’s decision to temporarily halt mints and redemptions through its banking partner, Prime Trust, a trader has taken advantage of the situation by initiating an on-chain short position on the stablecoin TrueUSD (TUSD). According to on-chain data, an Ethereum user utilized Aave’s V2 lending platform by depositing 7.5 million USDC, a stablecoin, as
Bitcoin (BTC) has been trading above $31,000 after its 24.3% rally between June 15 and June 23, which caught many off guard. For bears, that meant facing $165 million in short futures contract liquidations, but the unexpected rally also brought some degree of discomfort for investors using Bitcoin derivatives. Inflation remains the biggest question mark
Fabio Panetta, an executive board member of the European Central Bank (ECB), has suggested a dark future for cryptocurrencies, in which the digital assets may be used for little more than gambling among investors. In written remarks for a panel at the Bank for International Settlements Annual Conference on June 23, Panetta said crypto’s perception
The bid for the first Bitcoin (BTC) spot exchange-traded fund (ETF) in the United States is gaining traction following BlackRock’s recent application, with both former applicants and new players seeking permission from the U.S. Securities and Exchange Commission (SEC) to list a crypto ETF. Although it’s unclear whether the SEC will finally allow a Bitcoin
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was filled with artificial intelligence (AI)-centered developments on Etherscan, Polygon’s latest security update and on-chain sleuth ZachXBT’s ongoing lawsuit supported by multiple
A rumor is currently circulating on Twitter about an alleged connection between Ripple Labs and the US Federal Reserve (Fed). Even though the story is apparently very far-fetched, it is nevertheless a story worth telling, and we don’t want to keep it quiet. The origin of the rumor is popular XRP army member @NFAdotcrypto. The
This “Crypto City” guide looks at Sydney’s crypto culture, the city’s most notable projects and people, its financial infrastructure, what retailers accept crypto and where you can find blockchain education courses — along with a history of its crypto controversies. Jump to: Crypto culture, Projects and companies, Financial infrastructure, Where can I spend crypto? Controversies
A few months ago Pepecoin came and went, bringing quick, unimaginable riches to early investors and turning late comers into reluctant bag holders. While the chart resembles the standard crypto pump-and-dump scheme, PEPE’s price action this week suggests that the frog-themed token could be the newest contender to Dogecoin (DOGE) in the memecoin sector. Dogecoin
The Belgian Financial Services and Markets Authority (FSMA) has ordered major cryptocurrency exchange Binance to stop offering crypto exchange and custody wallet services. In a June 23 notice, the FSMA said that by Binance offering crypto-related services “from countries that are not members of the European Economic Area,” the exchange was violating Belgian laws on
Bitcoin (BTC) denied the market fresh volatility at the June 23 Wall Street open as traders attempted to guess its next targets. BTC/USD 1-hour chart. Source: TradingView Bitcoin lacks “strong confirmation” of new upside Data from Cointelegraph Markets Pro and TradingView showed BTC price action continuing to hover around $30,000. A second day of sideways
In May, Bitcoin (BTC) posted its first monthly loss since December 2022 with a negative 6.98%. However, this consolidation was not obviously driven by a change in fundamentals or the broader macroeconomic environment. The crypto market was looking for direction and liquidity in this phase before the United States Federal Reserve announced a pause on
The rush to apply for a spot Bitcoin (BTC) exchange-traded fund (ETF) rejuvenated the bulls but this news is likely to boost the price only to a certain distance. As the price moves up, the risks of a crash increase if none of the ETF applications are approved. Trading firm QCP Capital is not convinced
Singapore based cryptocurrency exchange service provider Crypto.com has obtained a virtual asset service provider (VASP) registration from the Bank of Spain. The regulatory approval would allow the exchange to offer a range of crypto-focused services to customers in Spain, a country which has shown a positive crypto stance in recent times. The crypto exchange platfrom
Bitcoin (BTC) will hit new all-time highs in 2023, and October is the favorite month for it, a popular trader says. In a Twitter update on June 22, Credible Crypto argued that the next four months should deliver the bullish BTC price momentum needed to tackle $69,000. October “fairly logical” for new Bitcoin all-time highs
After a grand opening in March, Australian fast-food diner Shiba Wings has seen plenty of customers walking through the doors for their fried delectables. Their appetite, however, hasn’t translated to crypto payments. The Shiba Inu (SHIB) themed diner first opened its doors in Australia’s beachside city Surfers Paradise on March 18, 2023. Speaking to Cointelegraph,
Bitcoin (BTC) will unlikely see its first spot price exchange-traded fund (ETF) in the United States soon. That is the opinion of trading firm QCP Capital, which in its latest market update on June 22 warned over spot ETFs’ prospects. SEC’s Gensler presents Bitcoin ETF roadblock BTC price action has offered more than 20% gains
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