Bitcoin Rises, Although Analysts Remain Skeptical

Bitcoin (BTC) rose above $36,000 on Tuesday but was still down about 0.38% over the past 24 hours, compared with a 0.76% fall in ETH. Considering the rebound earlier today, it appears that buyers are starting to return, but some analysts expect choppy price action ahead of the U.S. Federal Reserve’s press conference on Wednesday. Fed officials kicked off their policy meeting today. Author: Damanick Dantes Source link

YouTube head of gaming Ryan Wyatt to resign and join Polygon Studios as CEO

On Tuesday, Ryan Wyatt, head of gaming at YouTube, announced he would be leaving the video-sharing platform in February. Partly due to his leadership, YouTube Gaming sees over 250 million daily logged users per day with hundreds of billions of watch time each year. Wyatt cited his passion for blockchain and Web3 development in explaining his resignation. He will soon join Polygon Studios as its CEO. Polygon Studios is the gaming and non-fungible tokens, or NFTs, arm of the namesake layer-two Ethereum scaling network. Polygon (MATIC) plans to commit $100 million to…

Florida’s Office of Financial Regulation Issues Warning About DeFi

Florida’s Office of Financial Regulation (OFR) has issued a warning about decentralized finance (DeFi) based companies that offer lending, banking and investment services. The OFR is cautioning the public that before using any DeFi-based service, it is important to do the necessary due diligence and understand what DeFi is in order to avoid becoming the victim of a scam. The state regulatory body warns the DeFi investment market is still new, highly volatile and driven mostly by psychological factors rather than investment fundamentals. DeFi is one of the fastest-growing sectors…

Coinbase joins NGO’s efforts using crypto to help Haitians impacted by earthquakes, civil unrest

Major crypto exchange Coinbase has given a $150,000 grant to Hope for Haiti as part of a pilot program aimed at providing financial assistance to Haitians experiencing social and economic hardship.  In a Tuesday announcement, Hope for Haiti said Coinbase would be making the $150,000 contribution to its pilot project with financial inclusion-driven firm Emerging Impact and the Celo Foundation. According to Celo, the project utilizes the Celo Dollar (cUSD) and Emerging Impact’s Umoja platform to provide cash-based assistance to mothers affected by some of the traumatic events in the…

Crypto Is About More Than Prices

Crypto is not an investment for everyone, and you should never, ever risk more than you can afford to lose. Promise me you won’t. But there are a few projects that I have the misfortune of actually believing in. No crypto will ever, or should ever, be central to the majority of economic activity, but it can present viable solutions to real problems. Author: Daniel Kuhn Source link

Is the bottom in? Data shows Bitcoin derivatives entering the ‘capitulation’ zone

Analysts love to issue price predictions and it seems that nine out of 10 times they are wrong. For example, how many times did analysts say “we will never see Bitcoin back at X price again,” only to see it plunge well below that level a few months later?  It doesn’t matter how experienced a person is or how connected in the industry. Bitcoin’s (BTC) 55% volatility must be taken seriously and the impact this has on altcoins is usually stronger during capitulation-like movements. I was undeniably wrong about how…

IMF Urges El Salvador to Discontinue Bitcoin’s Legal Tender Status

The executive board of the International Monetary Fund recommended that El Salvador discontinue the use of bitcoin as legal tender in in the country due to the financial risks and liabilities created. The recommendation came in a report issued on Tuesday following bilateral discussions with El Salvador about its economy. IMF directors “stressed that there are large risks associated with the use of Bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities,” according to the report. Directors also “urged the authorities to…

U.S. Congressman calls for ‘Broad, bipartisan consensus’ on important issues of digital asset policy

In a letter to the leadership of the United States House Financial Services Committee, ranking member Patrick McHenry took a jab at “inconsistent treatment and jurisdictional uncertainty” inherent in U.S. crypto regulation and called for the Committee to take on its critical issues. McHenry, a Republican representing North Carolina, opened by mentioning that the Committee’s Democrat Chairwoman Maxine Waters is looking to schedule additional hearings addressing matters pertinent to the digital asset industry. He further stressed the need for identifying and prioritizing the key issues and achieving a “broad, bipartisan…

Bitcoin's Correction Continues for Now, but Eventually It Could Go 'Parabolic,' Says Peter Brandt

The recent crypto sell-off could be a mere dip within a long-term uptrend. That’s according to chartist Peter Brandt, CEO of Factor LLC, a research and trading firm. When asked what it would take for bitcoin (BTC) to get to $200,000, Brandt said, “I think it’s going to take a market that’s going to go up on a parabolic basis – and that’s what bitcoin has done.” Bitcoin was trading around $37,000 at press time and is down 45% from its all-time high near $69,000 reached in November 2021. The…

2 Gold-Backed Crypto Asset Market Caps Near $1 Billion, XAUT Jumps 19,000% in 23 Months – Altcoins Bitcoin News

While reserve-backed crypto assets and stablecoin market valuations increased a great deal during the last year, gold-backed cryptocurrencies have also seen their market caps swell. Between the tokens tether gold and pax gold, the market valuations of these two gold cryptos are nearing a billion dollars in value with $742 million today. Tether Gold’s Market Cap Swells Over 19,000% in Less Than 2 Years, While Pax Gold Increased by More Than 15,000% On February 21, 2020, the market valuation of tether gold (XAUT) was $2.1 million and 23 months later,…