Bitcoin (BTC) showed weakness on Aug. 15, posting a 5% loss after testing the $25,000 resistance. The move liquidated over $150 million worth of leverage long positions and has led some traders to predict a move back toward the yearly low in the $18,000 range. The price action coincided with worsening conditions for tech stocks,
Month: August 2022
The Central District of California federal court entered an order Monday to authorize the United States Internal Revenue Service (IRS) to serve a John Doe summons on SFOX, a Los Angeles-based cryptocurrency prime dealer. The IRS filed suit to receive the order, which directs SFOX to reveal the identities of customers who are U.S. taxpayers
Summary: Ethereum’s upgrade to a Proof-of-Stake blockchain would see some operations halt temporarily for Coinbase users. The crypto exchange said new ETH deposits and withdrawals would pause during The Merge as a precautionary measure. A similar pause for new ERC-20 token withdrawals and deposits was also announced. Coinbase Prime Institutional customers might also experience delays.
Bitcoin (BTC) sank to intraday support on Aug. 16 as concerns emerged over the fate of United States stock markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. stocks face stiff resistance Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $23,685 on Bitstamp, nearing lows from Aug. 12. After an eerily calm 24 hours,
According to a fresh prediction from crypto analysis firm Arcane Research, miners will continue to sell more Bitcoin (BTC) than they earn. Miners sold nearly 30% of record BTC stash since May The trip to $25,000 this month decreased pressure on a Bitcoin mining sector which has struggled throughout 2022. At one point, fears abounded
Brazilian brokerage giant XP Inc has officially launched its crypto trading platform XTAGE in Brazil, bringing a potential 3.6 million users to the crypto markets. The news was broke in a Monday post by the Nasdaq Exchange Twitter account, noting that XP had rung the exchange’s “Opening Bell” to celebrate the launch of the XTAGE
The market capitalization of Tether (USDT) tokens has increased by nearly $2 billion since the U.S. Treasury Department imposed sanctions on cryptocurrency mixer Tornado Cash. The Office of Foreign Asset Control essentially barred Americans from using Tornado Cash on Aug. 8, blacklisting 44 USD Coin (USDC) and Ether (ETH) addresses connected to the service to
On August 15, the non-profit that focuses on policy issues facing crypto assets, Coin Center, published a blog post that says the organization is looking at the legality of the recent Tornado Cash sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). The post, published by Coin Center’s Jerry Brito and
Velodrome Finance, a trading and liquidity marketplace, announced the recovery of $350,000 stolen on Aug. 4. However, the occasion turned bittersweet when internal investigations pointed out the involvement of a prominent team member, who goes by the pseudo name Gabagool. On Aug. 4, one of Velodrome’s high-worth wallets — dedicated for operating funds such as
Tina.Org has called out celebrities for endorsing NFTs without disclosing their material connection with them The team had also sent letters to several celebrities, urging them to disclose their intent behind promoting such NFTs on social media Consumer watchdog/regulator Tina.Org popularly known as Truth In Advertising has recently published a statement calling out famous Hollywood
South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency. According to an Aug. 15 report from Asia Times, the Financial Supervisory Service (FSS) ordered an investigation into South Korean banks last month after identifying a significant amount of overseas
A recent spike in short-term BTC holders could signal a “final flush” of sellers, meaning the capitulation events have played out, leaving the market ready for months of accumulation. The latest The Week On Chain report from market analysis firm Glassnode on Aug. 15 points out that short-term holders (STHs) have expanded their holdings by
An Ethereum whale wallet that participated in the genesis initial coin offering (ICO) and obtained about 150,000 Ether (ETH) in 2014 was activated again on Aug. 14 after three years of dormancy. The whale address transferred 145,000 ETH to multiple wallets as the price of Ether surged to a new three-month high of over $2,000. The transfers
Bitcoin (BTC) has been witnessing a tough battle between the bulls and the bears near the $25,000 level. A clear winner may not emerge in the short term due to a lack of a catalyst and because there is no major macroeconomic data scheduled for this week in the United States. Data points from Asia
United States-based crypto policy advocacy group Coin Center said it intended to “pursue administrative relief” for individuals affected by Tornado Cash sanctions imposed by the Treasury Department’s Office of Foreign Asset Control, or OFAC. In a Monday blog post, Coin Center executive director Jerry Brito and director of research Peter Van Valkenburgh alleged OFAC “overstepped
On Aug. 15, Bitcoin (BTC) price and the wider market corrected while the S&P 500 and DOW looked to build on four-straight weeks of robust gains. Data from TradingView and CNBC show the Dow pushing through its 200-day moving average, a first since April 21 and perhaps a sign for bulls that the market has
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