Ether (ETH) price is down on Dec. 16 and the pre-FOMC rally to $1,350 was obliterated after Federal Reserve chair Jerome Powell issued hawkish statements following a 0.50% hike in interest rates. The Ether sell-off follows a market-wide decline that has sent Ethereum network fees plummeting by 39.90% in the past 30-days. Daily Ethereum network
Month: December 2022
The total cryptocurrency market capitalization dropped 8.1% in the past two days after failing to break the $880 billion resistance on Dec. 14. The rejection did not invalidate the 4-week-long ascending channel, but a weekly close below $825 billion will confirm a shift to the lower band and reduce the support level to $790 billion.
Crypto markets threw a nice head fake this week by rallying into resistance on a “positive” Consumer Price Index (CPI) report, before retracing the majority of those gains right after Federal Reserve Chair Jerome Powell took on a surprisingly hawkish tone during his post-rate-hike presser. The Fed hiked interest rates by 0.50%, which was well
The province of San Luis in Argentina approved a legislation allowing the issuance of its own stablecoin pegged to the United States dollar. The token, dubbed the “Activo Digital San Luis de Ahorro”, will be available to all citizens of the province over the age of 18 and 100% collateralized in liquid financial assets of
Roughly seven days ago the owner of Twitter, Elon Musk, disclosed that the social media platform planned to purge 1.5 billion Twitter names if they were inactive or the accounts haven’t logged in for years. After the statement, bitcoiners grew concerned that the now-deceased computer scientist Hal Finney’s Twitter account would be terminated. It seems
Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation aimed at addressing regulatory gaps for crypto-related activities. In its annual report released on Dec. 16, the FSOC recommended members of Congress pass legislation granting “explicit rulemaking authority for federal financial regulators over the spot market for crypto-assets,”
Fran Finney, the wife of computer scientist Hal Finney — the recipient of the first transaction on the Bitcoin blockchain from Satoshi Nakamoto — reactivated her late husband’s Twitter account amid concerns Twitter CEO Elon Musk might purge the content from the social media platform due to inactivity. Many Crypto Twitter users reported on Dec.
A class-action lawsuit against Silvergate Bank, Silvergate Capital Corporation and Silvergate CEO Alan Lane was filed at the California Southern District Court concerning accounts held by embattled crypto companies FTX and Alameda Research. The suit aims to hold Silvergate accountable for its alleged roles in placing FTX user deposits into the bank accounts of Alameda,
The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducting a number of POR audits for crypto exchanges like Binance, Crypto.com, and Kucoin following the FTX collapse last month. Mazars Group Pauses Crypto Company Audits, Binance
The Russian central bank is ready to consider allowing cryptocurrency use within the country but only as part of a legal experiment, governor Elvira Nabiullina said. “It’s possible to consider transactions through an authorized organization in the country as part of an experimental legal regime, but that would require a relevant law,” Nabiullina stated during
Bitcoin (BTC) fell below $17,000 on Dec. 16 as traders warned of overreaction to “FUD” involving exchange Binance and others. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance “FUD” fuels bearish BTC moves Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it put in multi-day lows of $16,928 on Bitstamp. The pair retraced
United States prosecutors have laid charges in two separate cases against nine people who founded or promoted a pair of cryptocurrency companies alleged to be Ponzi schemes that netted $8.4 million from investors. On Dec. 14 the U.S. Attorney’s Office for the Southern District of New York unsealed the indictment, alleging the purported crypto mining
The incoming United States House Financial Services Committee chair Patrick McHenry wants the Treasury to delay the implementation of a section of the Infrastructure Investment and Jobs Act that deals with digital assets and tax collection. McHenry sent a letter on Dec. 14 to U.S. Treasury Secretary Janet Yellen with questions and concerns about the
Sasha Hodder, founder of Hodder Law Firm, has started a discussion among lawyers on Twitter about whether Ripple chiefs Brad Garlinghouse and Chris Larsen face fines in their legal battle with the U.S. Securities and Exchange Commission, and if so, what those fines might be. Hodder wrote in a tweet that if Ripple loses, Larsen
NFT Steez, a new weekly Cointelegraph podcast exploring nonfungible tokens and Web3 projects, spoke to Comic-Con legend Gareb Shamus about how he has used storytelling to build engagement and a “maker world” that grows and strengthens communities. What started off as a newsletter about comics — Shamus’ passion project — ultimately became known to the world as
Institutions in Bermuda will soon be able to trade real-time settlements using a stablecoin with a 1:1 peg to the United States dollar, Jewel Bank founder and chairman Chance Barnett told Cointelegraph. Called Jewel USD (JUSD), the first stablecoin to be released in the territory is powered by the Polygon blockchain, enabling transactions between wallets
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