Author: Max Bauer
Samson Mow, CEO of Pixelmatic, has sharply criticized the fear, uncertainty, and doubt (FUD) surrounding Tether (USDT) following news of its potential delisting from cryptocurrency exchanges within the European Union. Mow argues that such concerns are misplaced, given Tether’s significant market position and crucial role in the global cryptocurrency ecosystem. In a recent statement, Mow pointed to Tether’s impressive $143 billion in assets under management (AUM), positioning it as a major holder of US treasuries, surpassing all but 18 countries. He emphasized Tether’s banking relationship with Cantor Fitzgerald, whose CEO, Howard Lutnick, is a prominent figure often mentioned as a…
Former Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo, who served under the Trump administration, has affirmed his belief in Bitcoin, calling it “digital gold” and declaring that “its time has come.” This statement comes amid renewed optimism in the crypto market, with Bitcoin recently climbing above $100,000. Some investors anticipate a potential return of Donald Trump to the presidency could usher in a new era of crypto-friendly policies. Giancarlo’s comments show the growing recognition of cryptocurrencies as a legitimate store of value. He said the evolution of the internet, stating that we’ve reached a stage where the internet can…
Macro investor and former Goldman Sachs executive Raoul Pal has expressed a strongly bullish outlook on XRP, citing a compelling technical pattern on the cryptocurrency’s long-term chart. In a recent analysis, Pal highlighted a “massive seven-year wedge” that has recently been broken, suggesting significant upside potential. “If you look at the weekly chart for XRP, it’s a stunner,” Pal stated. “This massive seven-year wedge is broken, who knows where this chart goes to? It’s very powerful.” Pal’s analysis emphasizes the series of wedges that have formed on the XRP chart over the past seven years. He believes that the recent…
Reports are circulating that Tether (USDT), the world’s largest stablecoin by market capitalization, could soon be delisted from major cryptocurrency exchanges across Europe. This news has sparked fear, uncertainty, and doubt (FUD) within the crypto community, as investors grapple with the potential implications of the upcoming Markets in Crypto-Assets (MiCA) regulation. MiCA, slated to come into full effect on December 30, 2024, will introduce a comprehensive licensing regime for cryptocurrency businesses operating within the European Union, including “passporting rules” that facilitate cross-border operations. Crucially, these regulations will enforce stringent Know Your Customer (KYC) requirements. Key Changes Under MiCA: The Implications…
The Internal Revenue Service (IRS) has unveiled its long-awaited regulations for decentralized finance (DeFi), introducing significant changes for platforms operating in the space. While the new rules primarily impact DeFi trading platforms, they will also affect individual taxpayers using these services. The regulations stem from Section 6045 of the tax code, which mandates brokers to collect Know Your Customer (KYC) information, calculate gains and losses, and report this data to the IRS via Form 1099-B. This rule, already applied to traditional stock brokers and centralized crypto exchanges (CeFi), has now been extended to the DeFi ecosystem. The IRS has identified…
Cryptocurrency analytics firm Galaxy Research has released its highly anticipated 2025 predictions, forecasting significant growth for Bitcoin, Ether, and even Dogecoin. The report, distributed to clients and counterparties, paints a bullish picture for the crypto market, driven by institutional adoption, technological advancements, and increasing mainstream acceptance. Bitcoin’s Ascent to New Heights: Galaxy Research predicts Bitcoin will surpass $150,000 in the first half of 2025 and potentially reach $185,000 by the end of the year. This surge is attributed to a confluence of factors, including growing adoption by institutions, corporations, and nation-states. The report highlights Bitcoin’s historical outperformance of traditional assets…
Bitcoin’s bull market retracements are becoming less severe, according to on-chain analysis firm Glassnode. While sharp price increases are typically followed by periods of selling pressure, data suggests that the magnitude of these corrections is gradually diminishing as the market matures. Glassnode’s analysis reveals that the most significant retracement in the current cycle occurred on August 5, 2024, with a 32% drop. However, most retracements have seen Bitcoin’s price fall only 25% below the local high, indicating relatively low volatility compared to previous cycles. This reduced volatility may be attributed to several factors, including the introduction of spot Bitcoin ETFs,…
Bitcoin could be on track to reach a new all-time high around mid-January 2025, according to cryptocurrency research firm K33. Despite recent fluctuations following its surge past the $100,000 mark earlier this month, historical data suggests a potential surge in Bitcoin’s price in the coming months. Vetle Lunde, Research Manager at K33, points to a pattern observed in the past three Bitcoin cycles. Analyzing historical data, Lunde found that the average duration between the first and last all-time highs in a given cycle is 318 days. Given that Bitcoin first reached a new all-time high in the current cycle on…
Do Kwon, the disgraced South Korean cryptocurrency entrepreneur, has suffered another legal setback in his fight against extradition. Montenegro’s Constitutional Court today unanimously rejected Kwon’s appeal of a prior extradition verdict, paving the way for his transfer to either the United States or South Korea to face charges related to the spectacular collapse of his Terraform Labs cryptocurrency empire. According to local newspaper Vijesti, the court dismissed Kwon’s appeal citing legal deficiencies. The final decision on where Kwon will be extradited now rests with Montenegro’s Justice Minister. Observers believe extradition to the United States is the more likely outcome, based…
Cryptocurrency analyst Timothy Peterson predicts a potential “Santa Claus Rally” for Bitcoin, citing several key indicators in a recent analysis shared online. Peterson presented his case in a threaded post illustrated with charts, pointing to three primary factors supporting his bullish outlook. First, Peterson highlights the current state of the US dollar. According to his analysis, the dollar is nearing a short-term high, with an 85% probability of a reversal. He explains that a weakening dollar often reduces global demand for USD, prompting investors to explore alternative assets, including Bitcoin. Historically, Bitcoin’s price has shown an inverse correlation with the…