Author: Max Bauer

A recent surge in stablecoin market capitalization could be a precursor to a potential uptrend in bitcoin and other major cryptocurrencies, according to a crypto analyst. Julio Moreno, Head of Research at CryptoQuant, told Cointelegraph that the increasing market cap of stablecoins is a critical factor in driving cryptocurrency price growth, as they provide liquidity to crypto markets. “Stablecoins on exchanges have grown, with USDT reserves on centralized exchanges also reaching a record-high of $22.5 billion so far in 2024,” Moreno said, citing data from CryptoQuant. The analyst pointed to data that showed the stablecoin market capitalization has reached…

Iran allegedly launched missiles towards Israel, prompting a swift response from global markets and political leaders. According to eyewitness reports, a missile was intercepted over Jordanian airspace as it approached Jerusalem. Explosions were also heard in the city, heightening tensions across the region. Israel’s military confirmed that sirens were sounded across the country, urging civilians to enter air-raid shelters. Meanwhile, Iranian state television hinted at an official statement from the Revolutionary Guard, with speculation mounting over further military action. In the United States, President Joe Biden convened an emergency meeting with Vice President Kamala Harris and the national security team…

Fenbushi Capital, a prominent Chinese venture capital firm focused on blockchain and cryptocurrency investments, has sold $5.14 million in altcoins, according to blockchain analytics firm Lookonchain. Here is the Altcoins the Chinese VC Sold The sale, which occurred three hours ago, involved a variety of tokens, including: However, the sale appears to have resulted in significant losses for Fenbushi Capital. The firm lost US$2.44 million (-90%) on SUSHI, US$2.27 million (-82%) on COMP, US$1.53 million (-42%) on UNI, and US$499,000 (-15%) on AAVE. In addition to Fenbushi Capital’s sale, a large Ethereum whale has also been active in the altcoins.…

Binance, the world’s leading cryptocurrency exchange, announced today that it has been officially registered with the Argentine National Securities Commission (CNV) as a Virtual Asset Service Provider (VASP). This marks company’s 20th regulatory milestone globally and expands its services to users in Argentina. Binance Released a Statement on the Issue on its Official Blog Page With this registration, company’s website and app are now fully accessible to Argentine residents, providing them with access to a wide range of cryptocurrency services, including trading, investing, and custody. “This achievement underscores Binance’s commitment to compliance and forward-looking regulation,” said company’s in an official…

The FTX Debtors have released an update on the proposed settlement with preferred shareholders, stating their intention to return 100% of the assets under FTX’s control to creditors as part of the Chapter 11 bankruptcy plan. FTX Debtors Shares Updates on X According to the post from official X account, the U.S. Department of Justice (DOJ) is overseeing the distribution of assets forfeited through related criminal cases and has recognized both preferred shareholders and creditors as victims under criminal law. “The FTX Debtors and the preferred shareholders have competing claims to the forfeiture proceeds,” the statement explained. “While the DOJ…

Bitcoin concluded a historically strong September with a downturn, but market analysts are anticipating a significant rally following the upcoming U.S. elections. Analysts Expect Bitcoin Rally After US Elections Despite October being a historically bullish month for cryptocurrencies, options traders are predicting Bitcoin rally in the short term. Jake Ostrovskis, an OTC trader at crypto market maker Wintermute, noted that the current positioning suggests support for a post-election rally. The broader cryptocurrency market also experienced a decline on Monday, with traditional markets showing signs of weakness as well. U.S. equity indexes and key European markets retreated, while Japan’s Nikkei index…

Ohio State Senator Niraj Antani has introduced legislation that would once again allow Ohioans to pay state and local taxes using cryptocurrency. The bill aims to reverse a situation where, despite a 2018 initiative to accept cryptocurrencies for tax payments, the State Board of Deposits has failed to take the necessary action to implement the policy. There Was A Similar Bitcoin Initiative In The State Before Senator Antani, who describes himself as the “most pro-cryptocurrency Member of the Ohio Senate,” argues that accepting cryptocurrency for taxes is not only forward-thinking but also essential for fostering innovation and free enterprise within…

In a recent interview, Fed’s Goolsbee indicated that the central bank would gradually lower interest rates to accommodate a slowing economy and declining inflation. He emphasized that the rate cut process would likely span over a year or more. Goolsbee dismissed any political motivations behind the Fed’s decision to cut rates, stating that the primary reason is the economy’s return to normalcy. He noted that inflation is approaching the Fed’s target and the job market remains stable and sustainable. Goolsbee stressed the importance of a gradual rate cut process to avoid economic disruptions. He explained that the central bank could…

Federal Reserve Chairman Jerome Powell is speaking today at the National Association for Business Economics (NABE) annual conference, an event expected to provide significant insight into the central bank’s monetary policy direction. Here are his remarks (will be updated): Recent economic data paints a picture of decelerating price growth and a more moderate job market. Inflation, as measured by the Fed’s preferred gauge, the core Personal Consumption Expenditures (PCE) price index, rose a mere 0.1% in the latest reading, defying expectations of a 0.2% increase. This unexpectedly low figure has bolstered confidence among policymakers that the aggressive interest rate hikes…

Crypto traders are anticipating a bullish October for Bitcoin, with some predicting a potential record-breaking price surge this week. October and Fourth Quarter Overall Historically Positive for Bitcoin Traditional data shows that the fourth quarter has historically been a strong period for cryptocurrencies, with Bitcoin rallying an average of 90% during this time over the past decade. “Expect fireworks,” said David Brickell, head of international distribution at FRNT Financial, and former forex trader Chris Mill, in their newsletter. “We anticipate we could hit record highs for Bitcoin this coming week.” This bullish sentiment is echoed by options traders on Deribit,…