Ethereum and the crypto market turned red as the U.S. Federal Reserve (Fed) Chairman Jerome Powell hinted at “more pain” for global markets in the coming months. The two largest cryptocurrencies by market cap returned to critical support zones and might be on the brink of further losses. At the time of writing, Ethereum (ETH)
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Federal Reserve Chairman Jerome Powell warned that the central bank will continue to use the “tools forcefully” to bring down inflation, which is close to its highest level in 40 years. He cautioned that the restrictive policy may remain for some time and warned that it could “bring some pain to households and businesses.” The
Out in the cryptosphere, there’s a vast amount of wealth that’s seemingly out of reach. A long-running statistic suggests four million Bitcoin — almost 20% of the total supply — has been lost forever. Much of it was mined when the network was just beginning, with early adopters tearing their hair out after losing their
In a cease-and-desist letter to fast-growing crypto exchange FTX, the Federal Deposit Insurance Corporation (FDIC) shed light on a now-deleted tweet from the exchange’s president, Brett Harrison, and issued a stark warning over the company’s messaging. Harrison’s original tweet said, “Direct deposits from employers to FTX US are stored in individually FDIC-insured bank accounts in
A $750 pump on Aug. 26 took Bitcoin (BTC) from $21,120 to $21,870 in less than two hours. However, the movement was completely erased after comments from U.S. Federal Reserve Chair Jerome Powell reiterated the bank’s commitment to contain inflation by tightening the economy. Following Powell’s speech, BTC price dropped as low as $20,700. At
Cardano rose to a one-week high earlier in today’s session, despite cryptocurrency markets mostly trading in the red. Aave was also higher on Friday, with the token remaining close to its highest point in the past week. As of writing, the global crypto market cap is 0.43% lower. Cardano (ADA) Cardano (ADA) was one of
The Celsius Network is one of many crypto lending firms that has been swept up in the wake of the so-called “crypto contagion.” Rumors of Celsius’ insolvency began circulating in June after the crypto lender was forced to halt withdrawals due to “extreme market conditions” on June 13 and eventually filed for chapter 11 bankruptcy
XRP price saw a major spike on Aug. 26, hinting at a possible effect from some big traders. Large XRP transfers, Ripple Swell Global event Notably, XRP’s price jumped 6% to $0.37, a two-week high, during the early London hours. The token’s upside move occurred hours after its network processed three massive transfers worth $51 million
Bitcoin (BTC) bulls should not get excited about the recovery from the June lows of $17,500 just yet as BTC heads into its riskiest month in the coming days. The psychology behind the “September effect” Historic data shows September being Bitcoin’s most worst month between 2013 and 2021, except in 2015 and 2016. At the
Following Russian president Vladimir Putin’s statements at the end of June that indicated members of the BRICS nations have formalized plans to create a new “international reserve currency,” Russia is reportedly building the foundations of a global gas cartel with Iran. Financial journalist and best-selling author Simon Watkins claims the “alliance aims to control as
Bitcoin (BTC) rose rapidly later on Aug. 26 as fresh economic data from the United States furthered hopes of a pivot from the Federal Reserve. Bitcoin bounces but preserves intraday trend Data from Cointelegraph Markets Pro and TradingView tracked a 3.55% rise for BTC/USD on the day, allowing the pair to match highs from earlier in
The United States Securities and Exchange Commission (SEC) has pushed back a decision on the latest application for a Bitcoin (BTC) spot exchange-traded fund (ETF) by global investment firm VanEck. The company has long been trying to get the green light for what will be the first BTC ETF in America, with its first application
Cryptocurrency debit and credit card offerings in Latam are thriving, as two exchanges in the area are planning to launch their crypto-enabled cards. Ripio, the Argentina-based exchange, and Bitso, a Mexican exchange, both announced the future launch of their cards, in partnership with Visa and Mastercard respectively, as an answer to the rise of the
Ethereum is a few weeks away from officially moving to a proof-of-stake (PoS) mining consensus from its current proof-of-work (PoW) one. The transition, officially dubbed the Merge, is slated for Sept. 15, but in the run-up to the major upgrade, Ethereum node centralization has become a hot topic. As Cointelegraph reported last week, the majority
Cointelegraph’s Joseph Hall interviewed Bitcoin (BTC) advocates Pierre Rochard and Morgen Rochard, the hosts of the Bitcoin for Advisors podcast at the Surfin’ Bitcoin 2022 event held in France. The group talked about how France can attract more miners, where Bitcoin comes in in terms of financial planning and the difference between Bitcoin and other
Bitcoin (BTC) futures are starting to see record discounts as sentiment among derivatives traders worsens. In its latest dedicated report issued Aug. 23, analysis firm Arcane Research painted a worrying picture of morale among BTC futures participants. Futures basis revisits June lows After an initial shock during June’s BTC price drop, which has since held
Cryptocurrency exchange Binance will suspend deposits and withdrawals of Ether (ETH) and ERC-20 tokens during the blockchain’s transition to its proof-of-stake (PoS) Beacon chain in September. The world’s largest exchange by transaction volume announced the move in a bid to provide stability during ‘The Merge’ which is touted to take place in mid-September 2022. Binance
The Monetary Authority of Singapore (MAS) has started taking measures to prepare for new cryptocurrency regulations addressing the ongoing liquidity crisis and withdrawal issues. Singapore’s central bank has sent detailed questionnaires to some applicants and holders of the MAS’ Digital Payment Token licenses, Bloomberg reported on Friday. Sent over the last month, the questionnaires were
With a cryptocurrency ownership rate of 10%, or four million people, South Africa “ranks 18th out of 26 countries for crypto adoption,” the latest Finder’s report has said. The report also noted that South Africa’s proportion of crypto owners holding bitcoin, 52%, is the third highest out of 26 countries. Just Over Half Own BTC
No privacy. No property. No prosperity. If you follow the news, you’ve seen the trend — putting legal limits on cash transactions, the emergence of surveillance-oriented, central bank digital currencies (CBDCs), and more recently, crypto mixing platform Tornado Cash being sanctioned by the United States Treasury. There is a new wave of propaganda increasingly demonizing