Bitcoin Breaks $30K: Will Bull Run Continue or Pullback?

• Bitcoin’s price has seen a massive uptrend, breaking above the $25K resistance level and heading towards $30K.
• The RSI indicator is signaling a potential pullback or consolidation in the short term.
• A deeper pullback could lead to a retest of the $23K level.

Bitcoin Breaks Above Significant Resistance

Bitcoin’s price has surged over the past week, following a V-shaped rebound from the 200-day moving average located amid the $20K mark and then breaking above the important resistance of $25K. The current surge is taking Bitcoin towards the key mid-term resistance at around $30K.

Potential Correction Ahead?

Although bullish sentiment remains in place, the RSI indicator has entered an overbought area on both daily and 4-hour time frames, indicating that a correction or consolidation could be ahead in the short term. In this case, support may be found at around $25K, however if there is further correction then it could take Bitcoin back to its previous support level of approximately $23K.

Key Support Levels

The key support levels for Bitcoin are currently at around $23K and then again at approximately $25K. If these levels hold up during any potential correction then it will likely pave way for further upside momentum as Bitcoin looks to break above its all-time high of around $30K sometime soon.

Technical Analysis

Looking at technical analysis on both daily and 4-hour time frames reveals that while bullish sentiment remains in place there is still potential for some short term corrections before we see more upside momentum from Bitcoin in coming months. Key support levels can be found at around $23K and again at approximately 25k which should provide enough buffer against any potential bearish pressure.

Conclusion

In conclusion, while bullish sentiment remains strong it seems likely that we will see some short term corrections before we see further gains from Bitcoin in coming months as it tries to break above its all-time high of around 30k sometime soon. Key support levels can be found at 23k and 25k which should provide enough buffer against any bearish pressure during these times of volatility.

BTC, USDC Soar After Gov’t Rescues All SVB Depositors

• The U.S. government released a joint statement on Sunday, promising to save all depositors at Silicon Valley Bank (SVB).
• In response, the prices of both Bitcoin and USDC are returning to pre-collapse levels.
• Taxpayers will shoulder expenses as part of the resolution, while shareholders and senior management will not be protected.

Government Bails Out Silicon Valley Bank Depositors

The Federal Reserve, Treasury Department, and Federal Deposit Insurance Corporation have jointly announced that every depositor at Silicon Valley Bank (SVB) will be able to access their money by Monday, March 13th. This decision was made in order to protect deposits and provide households and businesses with access to credit in a manner that promotes strong economic growth.

Rising Prices for BTC & USDC

In response to the news of government support for SVB depositors, both Bitcoin and USDC are quickly regaining their price levels from before the bank’s collapse.

Taxpayer Support

Taxpayers will bear expenses as part of this resolution; however, shareholders and “certain unsecured debtholders” won’t be protected. Additionally, senior management has been removed from their roles.

Business Leaders Speak Out

Several business leaders called on the government over the weekend to stop contagion from SVB’s failure – including Bill Ackman and Mark Cuban – with stablecoin issuer Circle specifically requesting similar action due to having $3.3 billion of its USDC reserves within the firm.

Conclusion

The U.S.’s biggest financial regulators have provided assurance that all Silicon Valley Bank depositors will receive their funds back safely after Monday 13th March 2021 in an effort to ensure stability of the banking system and promote strong economic growth going forward.

Forget Bitcoin, Coinbase CEO Backs US-Backed Stablecoin

Summary

  • Brian Armstrong, the CEO of Coinbase, recently published an op-ed advocating for a US-backed stablecoin.
  • His attempt to appease regulators and keep crypto accessible in America has been met with mixed reactions.
  • Armstrong argues that crypto should be embraced, not banned, in order to ensure the US does not miss out on innovation.

Forget Bitcoin, Coinbase CEO Advocates for a US-Backed Stablecoin (Op-Ed)

In a desperate attempt to appease regulators, have crypto’s biggest voices simply lost the plot?

In a post-FTX world, it’s really hard being a crypto executive. Not only are your bags empty and revenues down, but you also have United States financial regulators breathing down your neck with subpoenas one day, and lawsuits the next. It’s understandable, then, why industry leaders like Brian Armstrong may wish to present themselves to both media and authorities with their state-worshipping foot forward.As the CEO of Coinbase, America’s largest crypto exchange – one wrong move could get his company sued and regulated beyond repair by politicians already paranoid about a fraud-ridden industry. After all, what reason does the state have left to not just ban crypto entirely? On a media blitz earlier this week, the executive attempted to answer that question: supportive of “crypto” while still pleading to the United States government’s best interests.The Result

. The result, however, saw him promote a use of crypto most antithetical to the ethos of “decentralization” Bitcoin was born into. That’s right: Brian Armstrong is in favor of a US government-issued stablecoin.Armstrong’s Case for Crypto in America

. In an op-ed published with CNBC on Wednesday, Armstrong made his usual case for why the United States should be more welcoming to crypto, in order to not drive the industry offshore.

The Argument
< p >< strong >He argued that embracing cryptos would help ensure that American businesses do not miss out on any potential innovation or economic opportunities related to them . He also noted that banning cryptocurrency outright would only push people offshore , resulting in less oversight than if it were accepted within US borders .

Trip Hawkins Joins NFT Gaming Industry: The Future of Web3 is Here!

• Trip Hawkins, founder of Electronic Arts, has joined the Web3 gaming startup Games for a Living (GFAL) as co-founder and chief strategist.
• GFAL develops tools to create AAA-category video games that can be integrated into the blockchain.
• Hawkins believes Web3 is the bridge to the metaverse and wants to build an economy in it as closely resembling the real world economy as possible.

Trip Hawkins Joins NFT Gaming Industry

Trip Hawkins, founder of Electronic Arts, has joined the Web3 gaming startup Games for a Living (GFAL) as co-founder and chief strategist. GFAL develops tools to create AAA-category video games that can be integrated into the blockchain. Additionally, Hawkins aims to build a more secure metaverse with an economy closely resembling the real world economy.

Web3 Gaming Industry

Despite fluctuations in the crypto market, Web3 and NFT gaming continue to draw interest from business leaders who are betting on technological innovation to drive growth in this sector. GFAL’s primary objective is to develop AAA-quality games which can be seamlessly connected with blockchain technology.

Building The Metaverse Economy

During a press conference, Hawkins explained his motivation behind joining GFAL: “If we’re going to make a metaverse, the economy of the metaverse has to be more like the real world.” He intends on making sure there is enough security within this virtual space so that it remains less vulnerable to hacking threats.

Hawkins’ Past Achievements

Before founding EA, one of Hawkin’s first jobs was at Apple Inc., where he worked as one of their first employees. Since then his achievements have been impressive; EA now employs over 13000 people and currently holds a valuation of $30.85 billion according to Crunchbase data.

Conclusion

Trip Hawkins’ entry into NFT gaming shows that major industry figures are taking notice of this emerging tech and its potential applications in various industries such as video games, digital art and collectibles markets. With his past successes at Apple and EA, we may soon see similar innovations from him in this field too!

Binance.US Refutes $400M Bank Account Transfer Report

• Binance.US denied a Reuters report that claimed the international exchange moved $400 million from its affiliate’s bank account.
• According to Binance.US, only executives of the platform have access to its bank accounts and Merit Peak, the trading firm listed CEO Changpeng Zhao as manager, stopped operating on the platform in 2021.
• The company stated that it has never and will never trade non-public information related to any customers or employees of Binance.US or Binance International.

Binance Refutes Reuters Report

Binance.US has released a statement refuting an earlier report made by Reuters which stated that the international exchange allegedly moved $400 million from an account belonging to the American affiliate.

Only Executives Have Access To Bank Accounts

In an attempt to clarify the situation, Binance.US said that only executives of the platform had such access to its bank accounts and stressed that it has never -and will never – trade non-public information related to any customers or employees of either entity at all times.

Reuters Report Details

The Reuters report claimed that bank records and company messages revealed that crypto exchange giant Binance transferred over $400 million from a Binance.US bank account at Silvergate to a trading firm called Merit Peak in the first quarter of 2021 with CEO Changpeng Zhao listed as its manager.

Merit Peak Stopped Operating On Platform In 2021

However, while acknowledging Merit Peak’s existence, Binance US stated that it had stopped operating on its platform in 2021 before this incident occurred and therefore could not have possibly been involved in any transfer activity between itself and Silvergate Bank as reported by Reuters.

Conclusion

In conclusion, Binance clarified that only its executive team members have access to their respective banks accounts and neither entity trades non-public information related to customers or employees at all times for compliance reasons

Regulierung des ICO Marktes – Eine vertiefte Analyse

Der ICO-Markt hat in den letzten Jahren einen stetigen Anstieg erlebt und ist zu einem wichtigen Bestandteil der Finanzwelt geworden. Die Initial Coin Offerings (ICOs) haben es Unternehmen ermöglicht, ein neues Finanzinstrument zu nutzen, um Kapital für ihr Geschäftsmodell zu erhalten. Sie haben es auch den Investoren ermöglicht, in die neueste Technologie zu investieren und von Vermögenswerten zu profitieren, die noch nicht auf dem üblichen Finanzmarkt zugänglich sind.

Da ICOs jedoch ein neues Finanzinstrument sind, gibt es noch keine allgemein anerkannten Regeln für ihr Betriebssystem. Daher ist es wichtig, dass sich der ICO-Markt unter der Aufsicht eines regulierten Umfelds befindet, um sicherzustellen, dass Investoren eine sichere und transparente Plattform haben, um ihr Geld in ICOs zu investieren.

Dieser Artikel untersucht die regulierten Umgebungen für ICOs in den USA, Europa und Asien. Zunächst wird erklärt, was ein ICO ist und warum eine Regulierung erforderlich ist. Anschließend werden die geltenden ICO-Regeln in den USA, Europa und Asien untersucht. Darüber hinaus wird der Einfluss der Regulierung auf den ICO-Markt und die Schritte, die Unternehmen unternehmen müssen, um ihre ICOs zu regulieren, erläutert.

Was ist ein ICO?

Ein ICO (Initial Coin Offering) ist ein Finanzinstrument, das Unternehmen ermöglicht, Kapital für ihr Geschäftsmodell zu erhalten. Es ist eine Art Crowdfunding, bei dem Unternehmen digitale Token oder Coins verteilen, um Investoren zu ermutigen, in ihr Projekt zu investieren. Diese Token können dann an andere Investoren oder an Börsen verkauft werden, wodurch sich der Wert der Token erhöht.

Einfluss der Regulierung auf den ICO-Markt

Die Regulierung des ICO-Marktes hat in den letzten Jahren einen wesentlichen Einfluss auf die Entwicklung des ICO-Marktes gehabt. Die Regulierung hat dazu beigetragen, dass der ICO-Markt sicherer und transparenter wird und Investoren einen angemessenen Schutz vor Betrug und anderen Risiken haben. Darüber hinaus hat die Regulierung Investoren ermutigt, in ICOs zu investieren, und Unternehmen ermutigt, sich an die geltenden Rechtsvorschriften und regulatorischen Vorschriften zu halten.

Eine der beliebtesten Plattformen für den Handel mit Kryptowährungen ist Crypto Genius. Diese Plattform bietet Investoren eine sichere und benutzerfreundliche Plattform, um in Kryptowährungen zu investieren. Investoren können auf der Plattform mit einer Vielzahl von Kryptowährungen handeln und auf den Preisbewegungen von Kryptowährungen spekulieren.

Warum brauchen ICOs eine Regulierung?

Während ICOs ein schnelles Wachstum erfahren, hat ihr schneller Aufstieg zu Bedenken hinsichtlich des Investitionsschutzes geführt. Da ICOs neu und unreguliert sind, haben Investoren wenig Schutz vor Betrug und anderen Risiken, die mit dem Investieren in ICOs verbunden sind. Daher ist es wichtig, dass sich der ICO-Markt unter der Aufsicht eines regulierten Umfelds befindet.

Geltende ICO-Regeln in den USA

In den USA gibt es einige Regeln, die Unternehmen befolgen müssen, wenn sie ICOs auf den amerikanischen Märkten anbieten möchten. Die Securities and Exchange Commission (SEC) überwacht die ICO-Regeln in den USA. Unternehmen müssen sich an die Regeln halten, um sicherzustellen, dass Investoren einen angemessenen Schutz vor Betrug und anderen Risiken haben. Unternehmen, die ICOs in den USA anbieten, müssen ihre Token als Sicherheiten klassifizieren, was bedeutet, dass sie sich an die geltenden Wertpapiergesetze halten müssen.

Geltende ICO-Regeln in Europa

In Europa gibt es ebenfalls einige Regeln, die Unternehmen befolgen müssen, wenn sie ICOs anbieten möchten. Die Europäische Wertpapier- und Marktaufsichtsbehörde (ESMA) ist für die Überwachung der ICO-Regeln in Europa verantwortlich. Unternehmen müssen sich an die Regeln halten, um sicherzustellen, dass Investoren einen angemessenen Schutz vor Betrug und anderen Risiken haben. Unternehmen, die ICOs in Europa anbieten, müssen sich an die MiFID II-Richtlinien halten, die ein einheitliches Regelwerk für den Handel mit Finanzinstrumenten in Europa darstellen.

Geltende ICO-Regeln in Asien

In Asien gibt es ebenfalls einige Regeln, die Unternehmen befolgen müssen, wenn sie ICOs anbieten möchten. Die asiatischen Länder, die eine Regulierung der ICOs haben, sind Japan, Südkorea, Singapur und Hongkong. Unternehmen müssen sich an die Regeln halten, um sicherzustellen, dass Investoren einen angemessenen Schutz vor Betrug und anderen Risiken haben. Unternehmen, die ICOs in Asien anbieten, müssen sich an die geltenden Wertpapiergesetze und andere regulatorische Vorschriften halten.

Regulierung der ICO-Investitionen

Um Investoren vor Risiken zu schützen, die mit dem Investieren in ICOs verbunden sind, müssen Unternehmen sicherstellen, dass ihre ICOs entsprechend reguliert sind. Einige der Regeln, an die sich Unternehmen halten müssen, um ihre ICOs zu regulieren, sind:

• Investoren müssen über die Risiken bei der Investition in ICOs informiert werden.
• Unternehmen müssen ein einheitliches Verfahren für die Überprüfung von Investoren einführen.
• Unternehmen müssen ihre ICOs auf verschiedenen Plattformen veröffentlichen, um ein breiteres Publikum zu erreichen.
• Unternehmen müssen ein einheitliches Verfahren für die Rückerstattung von Investitionen einführen.

Regulierung der ICO-Projekte

Um sicherzustellen, dass alle ICO-Projekte den geltenden Regeln entsprechen, müssen Unternehmen einige Regeln befolgen. Einige der Regeln, die Unternehmen befolgen müssen, sind:

• Unternehmen müssen ein einheitliches Verfahren für die Prüfung und Genehmigung von ICO-Projekten einführen.
• Unternehmen müssen ein einheitliches Verfahren für die Veröffentlichung von Informationen über ICO-Projekte einführen.
• Unternehmen müssen sicherstellen, dass alle ICO-Projekte alle geltenden Rechtsvorschriften und regulatorischen Vorschriften erfüllen.
• Unternehmen müssen sicherstellen, dass alle ICO-Projekte eine ausreichende Liquidität aufweisen.

Fazit

Der ICO-Markt hat in den letzten Jahren einen stetigen Anstieg erlebt und ist zu einem wichtigen Bestandteil der Finanzwelt geworden. Um Investoren einen angemessenen Schutz vor Betrug und anderen Risiken zu bieten, die mit dem Investieren in ICOs verbunden sind, ist es wichtig, dass sich der ICO-Markt unter der Aufsicht eines regulierten Umfelds befindet. In den USA, Europa und Asien gibt es einige Regeln, die Unternehmen befolgen müssen, wenn sie ICOs anbieten möchten. Die Regulierung des ICO-Marktes hat in den letzten Jahren einen wesentlichen Einfluss auf die Entwicklung des Marktes gehabt und Investoren ermutigt, in ICOs zu investieren.

Crypto Mom Slams SEC Attack on Kraken: Paternalistic and Lazy

• The SEC recently cracked down on Kraken’s staking service, prompting Crypto Mom Hester Peirce to issue a statement against the agency’s decision.
• According to Peirce, the fundamental question is not whether Kraken should have been registered with the SEC, but whether such registration was at all possible.
• Coinbase CEO Brian Armstrong also weighed in, claiming that his exchange was given “no way to register” and that the SEC’s offer was “disingenuous.”

SEC Crackdown on Kraken Staking Service

The Securities and Exchange Commission (SEC) recently initiated enforcement action against Kraken’s staking service. This prompted one of its members, Hester Peirce – otherwise known as ‘Crypto Mom’ – to issue a statement railing against her agency’s decision.

Peirce Questions Efficiency and Fairness

In her statement, Peirce argued that the SEC’s enforcement action is neither “efficient nor fair,” and that exchanges were never given a realistic pathway to registration in the first place. She further explained that crypto-related offerings are not making it through the SEC’s registration pipeline due to questions around specific disclosures, accounting quirks, and whether to register the staking program on a whole or token-by-token basis.

Brian Armstrong Weighs In

Coinbase CEO Brian Armstrong quickly backed up Commissioner Peirce’s claims by stating that his exchange – which offers a similar product – was given “no way to register” and that the SEC’s “offer” was “disingenuous.” He then went on to explain what staking services do for customers by pooling their assets together into giant nodes for validating blockchain transactions.

What Is Staking?

Staking services allow customers to put up their cryptocurrency assets as collateral in order to validate blockchain transactions. This earns them rewards over time while also helping secure blockchains from malicious actors trying to reverse or double spend coins. As such, they provide an important security feature while allowing users to earn passive income off of their holdings without having to trade them outright.

“Paternalistic” Enforcement Action Criticized

In response to this crackdown on Kraken’s staking service, Peirce criticized what she called an “overly paternalistic approach” taken by her agency towards crypto businesses who are attempting compliance with existing regulations. She concluded her statement by calling for more clarity from regulators when it comes questions around securities laws compliance in this space going forward.

Bitcoin Soars 5-Month High: Fed Hikes Rates, DeFi Rally Lives On

• Bitcoin hit a 5-month high of $24,000 and the Federal Reserve hiked interest rates as expected.
• The total cryptocurrency market capitalization increased by $35 billion this week and is recovering from the bankruptcies in 2022.
• Bitcoin soared to a high above $24,000 while altcoins also rallied with some coins up 30%.

Bitcoin Taps 5-Month Highs

Bitcoin topped $24K for the first time since August 2022 but retraced quickly due to the Federal Reserve’s hike in interest rates as expected.

Crypto Market Capitalization Increase

The total cryptocurrency market capitalization increased by around $35 billion over the past 7 days, which has been attributed to recovery from last year’s multitude of bankruptcies.

Bullish Case for Crypto Market

Some are making a bullish case for crypto markets due to expectations that US Federal Reserve will slow down on increasing interest rates – which was supported by this week’s FOMC meeting where they hiked rates with 25 basis points.

Altcoin Rally

As well as Bitcoin soaring to a high above $24,000, altcoins also rallied with some coins such as Fantom (FTM) up 30%, ATOM up 15% and Avalanche up 17.4%.

Conclusion

Overall, this week saw positive impacts on crypto markets due to Federal Reserve’s decision to hike interest rates and Bitcoin reaching its 5-month high of $24K. Altcoins were quick to follow suit with some coins rallying significantly in comparison.

Flare Partners with Blockchain Security Expert FYEO to Boost Network Security

1. Flare has announced an official partnership with blockchain security specialist FYEO.
2. FYEO will be responsible for performing ongoing security audits of Flare’s codebases.
3. These audits will help to minimize risk for all users of the network.

Flare, the leading smart contracts platform, is proud to announce their official partnership with blockchain security specialist FYEO. This partnership will see FYEO take responsibility for performing ongoing security audits of Flare’s codebases. This is an important step in Flare’s blockchain security strategy, and will help to provide a level of security assurance to application developers and users on the network.

Flare Co-Founder & CEO Hugo Philion commented on the partnership, saying: “We are building our protocols with auditor review in mind from the ground up and are committed to working with the best partners to ensure our code is secure. We are excited to be working with FYEO who have a strong track record of providing high-quality security audits for public blockchains.”

FYEO has worked with some of the world’s leading blockchain projects, and is the only security firm endorsed by the Web3 Foundation. Their experience in the industry will be invaluable to Flare, as they bring their security expertise to the table. FYEO’s team of experienced engineers and researchers will be undertaking ongoing audits of Flare’s codebases, providing actionable feedback to help ensure the safety of smart contracts developed and deployed on the network.

Flare’s commitment to security doesn’t end with this partnership however. They are also taking stringent internal testing measures to further boost their network’s security. This includes the use of automated testing tools, manual code reviews and penetration testing. All of these measures are designed to ensure that Flare is one of the most secure smart contracts platforms in the world.

Flare’s partnership with FYEO is an important step in the company’s journey towards becoming the premier smart contracts platform, and is evidence of their commitment to providing secure, reliable and robust blockchain technology. The audits performed by FYEO will help to minimize risk for all users of the network, showcasing Flare’s commitment to security and reliability.

Nexo Pays $45 Million Fine for Offering Unauthorized Products to U.S. Investors

• Nexo has agreed to pay $45 million in fines to U.S. authorities.
• The fines were due to their offering of Earn Interest Products (EIP) to U.S. investors.
• The SEC and NASAA opted to give a lower penalty due to Nexo’s cooperation.

Nexo, the crypto-based lending services provider, has reached an agreement with the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) to pay $45 million in fines. This comes after the Californian Department of Financial Protection and Innovation (DFPI) and other U.S. regulators ordered the company to desist from offering Earn Interest Products (EIP) to U.S. investors in September.

The EIPs, in Nexo’s case, took the form of crypto asset lending accounts which were offered to U.S. investors. However, despite the order to desist from offering the accounts, U.S. investors could still use the feature by opting for automatic renewal on already existing accounts. This prompted the legal actions from the SEC and NASAA.

In December, the SEC and NASAA announced that their legal actions had concluded and that Nexo had agreed to pay the $45 million fine. The regulators also opted for a lower penalty due to Nexo’s cooperation in the investigation.

In addition to paying the fine, the company has also agreed to further strengthen its compliance programs and procedures. This includes further training of personnel, compliance reviews, and updates to its policies and procedures.

The events of the past few months have been a major learning experience for Nexo. The company has since taken steps to ensure that it is fully compliant with U.S. regulations and that it is taking all necessary measures to protect its customers.

Nexo is now looking to the future and is focused on creating products and services that will help customers maximize the value of their crypto assets. With the fine paid and its compliance programs updated, Nexo is hoping to move forward and continue to offer the best possible experience to its customers.