Category: Bitcoin News

Bitcoin price sets up for an explosive move as ADA, XLM, AAVE and CFX turn bullish

Rakesh Upadhyay

The long weekend has not produced any fireworks in Bitcoin (BTC) price, which continues to trade inside an ever-narrowing range. Bitcoin is on track to form a third consecutive Doji candlestick pattern on the weekly chart. This suggests that the Bitcoin bulls and the bears are not clear about the next directional move. It is not only Bitcoin that is stuck inside a range. On April 7, Jurrien Timmer, director of global macro at asset manager Fidelity Investments, tweeted that the S&P 500 Index had been stuck inside a range…

Bitcoin Miner Sphere 3D Sues Partner Gryphon Digital

Eliza Gkritsi

The complaint, filed with the Southern District of New York on Friday, alleges Gryphon CEO Rob Chang wired 18 of Sphere 3D’s bitcoin to an address belonging to a fraudster who masqueraded as Sphere 3D’s chief financial officer in January, and another eight bitcoin to the same address a few days later. The lawsuit also alleges Gryphon provided “abhorrent” services to its partner and misrepresented Sphere 3D’s computing power as its own in public disclosures. Author: Eliza Gkritsi Source link

U.S. Adds 236K Jobs in March Versus Forecasts for 239K

Anthony B

Data from earlier this week began to hint at some weakness in the labor market, with the ADP on Wednesday reporting just 145,000 private sector jobs added in March versus 210,000 expected. Then on Thursday, the Department of Labor reported weekly initial jobless claims of 228,000 against forecasts for just 200,000. In addition, the previous week’s 192,000 initial claims was revised up to 246,000. Author: Stephen Alpher Source link

Nigerian crypto foreign investment is at a record low: Study

Amaka Nwaokocha

The largest economy in Africa has a foreign investment problem despite exponential growth in crypto adoption. The National Bureau of Statistics (NBS) reported on Tuesday that foreign direct investment (FDI) in Nigeria, the largest economy in Africa, dropped by 33% last year due to a severe shortage of dollars. The shortage has also discouraged crypto companies from expanding into the country. In 2022, investment declined to $468 million from the previous year’s $698 million. According to the data, FDI has decreased by approximately 90% since its peak of $4.7 billion…

OPNX Exchange, Which Offers FTX Claims Trading, Led by Three Arrows Founders is Now Live

Shaurya Malwa

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Japan FSA flags Binance, Bybit, others for operating without registration

Amaka Nwaokocha

In a warning letter released on Friday, Japan’s Financial Services Agency (FSA) said that a number of foreign cryptocurrency exchanges, including Binance, Bybit, MEXC Global and Bitget, have been conducting business in the country without proper registration, violating the nation’s fund settlement laws. According to the warning letter, the FSA stated that the listed exchanges had breached Japan’s fund settlement regulations by conducting crypto asset exchange business without proper registration. The regulator clarified that the current list of unregistered traders may not accurately represent the current state of unregistered businesses.…

Latest court battle could alter crypto landscape in US

Prashant Jha

Regulatory trouble is nothing new for Binance, and on many occasions, in the past, it has managed to overcome or bypass such roadblocks and eventually work with regulators.  However, when it comes to the United States, the exchange has found itself in the cross-hairs of multiple agencies. A number of United States financial regulators have ongoing investigations against the crypto exchange. Some of these investigations date back to 2018, and now, one of the primary derivatives market regulators in the U.S. has filed a lawsuit in conjunction with its investigation…

Crypto Exchange Aggregator 1inch Proposes Diluting Some Insiders’ Voting Power

Elizabeth Napolitano

In a community call on Friday that CoinDesk attended, Jordan Reindl, a member of 1inch’s community and governance team, proposed the protocol dilute the voting power of insiders who have received their full allotment of v1inch vesting tokens, a derivative token redeemable for 1inch. Conversely, v1inch tokens that remain locked up for two years or longer would have 100% of their voting weight, the proposal said. Author: Elizabeth Napolitano Source link

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