Binance’s Legal Troubles Binance, the world’s largest cryptocurrency exchange, is facing a legal battle in Nigeria over allegations of money laundering, tax evasion, and currency speculation. Two executives, Tigran Gambaryan and Nadeem Anjarwalla, have been charged. Gambaryan Denied Bail Gambaryan was arrested in Nigeria earlier this year. A court has now denied him bail, citing…
Bank of America is facing a class-action lawsuit from a customer who claims the bank illegally refused to reimburse her for unauthorized transactions. Accusations of Illegal Practices Kimberly Dennie alleges that her Bank of America debit card was stolen in February, and unauthorized transactions were made on her account. She promptly reported the card as…
Cryptocurrency analyst Kevin Svenson believes Bitcoin (BTC) is exhibiting bullish signs similar to those seen before its surge to record highs earlier this year. Bullish Signals Svenson points to a reversal bottom pattern and a breakout above the Relative Strength Index (RSI) downtrend line as indicators of Bitcoin’s bullish momentum. He notes that this pattern…
A renowned crypto trader, DonAlt, has issued a warning to investors, predicting the imminent collapse of memecoins. Memecoin Collapse DonAlt believes that memecoins, such as those featuring dog or cat motifs, are on the verge of a massive sell-off. He warns that these projects could experience a “giga rug” (a large-scale scam). Specific Targets DonAlt…
A crypto analyst, Rekt Capital, believes Bitcoin (BTC) has escaped the risk of a market correction. Post-Halving Danger Zone Over Rekt Capital explained that Bitcoin has exited the “danger zone,” a three-week period after a halving event where a price dip below the current range low is possible. He believes the correction bottom has likely…
Crypto Surge Amid Re-election Speculation Former President Donald Trump has become a crypto millionaire, thanks to a 4,000% surge in his cryptocurrency portfolio. This windfall is largely driven by the meteoric rise of the “Save America” meme coin, dubbed “TRUMP.” From Humble Beginnings to Crypto Dominance Trump’s crypto journey started modestly with $142,500 worth of…
The Case for a Spot ETH ETF A spot Ethereum (ETH) exchange-traded fund (ETF) would bring significant changes to the crypto market, similar to the approval of spot Bitcoin ETFs. It would provide regulatory clarity and attract institutional capital, boosting Ethereum’s status as a macro asset. Correlation with Futures Prices The high correlation between CME…
Senate Rejects SEC’s Controversial Proposal The Securities and Exchange Commission (SEC) has faced a major setback after the US Senate voted overwhelmingly against its proposed anti-crypto bill. Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, hailed the outcome as a victory for the cryptocurrency industry. SEC’s Failed Attempt to Control Crypto In March 2022, the SEC…
Social Media Hype vs. Reality Investors in the crypto market are getting bombarded with advice from social media influencers. These influencers claim to have special insights, but a new study shows their predictions might not be worth much. Influencer Tweets: Short-Term Hype, Long-Term Losses Researchers analyzed tweets from over 180 crypto influencers. They found that…
In the wild world of cryptocurrencies, emotions run high. Unlike traditional markets, crypto prices can swing wildly based on the collective mood of traders. This makes it crucial to understand the role that fear and greed play in shaping the market. Measuring Market Sentiment The Fear and Greed Index is a tool that gauges the…
