Bitcoin Price Starts Technical Correction, Here’s Key Support To Watch

Bitcoin price traded above the $17,000 resistance. BTC is correcting gains and might decline towards the $16,650 support zone in the near term. Bitcoin gained pace and cleared the $17,000 and $17,200 resistance levels. The price is trading above $16,650 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $16,980 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower towards the $16,650 and $16,500 support levels. Bitcoin Price Faces Bears Bitcoin…

Binance employs Trump audit company to check crypto reserves

  The United States branch of Mazars served as the corporation of former United States President Donald Trump’s accounting firm for a significant amount of time. In order to carry out the proof-of-reserve (PoR) audits that were prompted by the decline of FTX, the cryptocurrency exchange Binance is collaborating with the accounting firm Mazars. According to a report published by the Wall Street Journal on November 30, Mazars, an accounting firm that previously worked for the company of the former President of the United States Donald Trump, has been appointed…

CFTC Chair Proposes Pause to Overhaul Digital Commodities Consumer Protection Bill

U.S. Fed Chair Jerome Powell’s remarks on Wednesday signaled a likely slowing down in interest rate hikes as soon as the central bank’s mid-December meeting, causing mixed results in equity markets. The S&P 500 index and Dow Jones Industrial Average closed down 0.09% and 0.56%, respectively, while the Nasdaq Composite was up 0.13%. Nicholas Colas, co-founder of the market analysis firm DataTrek Research, wrote in a note that as much as Powell is “trying to contain investors’ animal spirits by talking about persistently high interest rates, markets are rejecting that…

Kraft Heinz Is Building a Whole Web 3 Infrastructure

After about a year of laying the groundwork for its presence in cryptocurrency-adjacent technology, Kraft Heinz is the latest big brand to unveil a strategy around what proponents bill as the next iteration of the internet, Web3. The food conglomerate is kicking off what it says will be a long-term plan for the space with a set of non-fungible tokens (NFTs) in the image of an Oscar Mayer Wiener Whistle that will be distributed at “meat-ups” online and in-person at Miami’s Art Basel event this week, which will also feature…

What is tokenization and how are banks tapping into its design principles?

Tokenization is the process of converting something with tangible or intangible value into digital tokens. Tangible assets like real estate, stocks or art can be tokenized. In a similar vein, intangible assets like voting rights and loyalty points can be tokenized, too. We see Avios as an example of tokenized loyalty points by the traditional credit card industry. However, when tokens are created on a blockchain, they add a level of transparency that previous iterations of tokens couldn’t achieve. There are several banks that are experimenting with tokenization. But, before…