Fit21: A Make-or-Break Moment The US crypto industry is on edge as a crucial vote in Washington next week could reshape its future. The Financial Innovation and Technology for the 21st Century Act (Fit21) proposes a major shift in how the government regulates digital assets. Currently, the SEC and CFTC have overlapping authority over crypto….
Analyst Willy Woo believes Bitcoin (BTC) is poised for a new uptrend after a period of consolidation. Profit-Taking Phase Over Woo analyzed the Spent Output Profit Ratio (SOPR), which measures whether coins are being sold at a profit or loss. He found that BTC holders have completed profit-taking near record highs, indicating that sell pressure…
Whale Accumulation Surges As Bitcoin enters 2024, whales (addresses holding over 1,000 BTC) have been accumulating heavily. According to IntoTheBlock, these whales have added 250,000 BTC since the approval of spot ETFs in the US. This accumulation brings their balance close to pre-FTX collapse levels. Impact on BTC Price The whale accumulation suggests growing institutional…
Schiff Promotes Silver, Brandt Mocks Peter Schiff, a gold enthusiast, has been praising silver’s recent surge. He claims it’s a better investment than Bitcoin, which has only gained 2% compared to silver’s 20%. Bitcoin advocate Peter Brandt countered by calling Schiff’s statements attention-grabbing tactics. He suggested Schiff was overreacting to silver’s minor price increase. Bitcoin…
Genesis, the bankrupt crypto lender, has received court approval to proceed with its $3 billion repayment plan. However, Genesis’s parent company, Digital Currency Group (DCG), won’t receive any funds from the plan. DCG’s Objection Overruled DCG had objected to the plan, claiming that it would give customers more than they were entitled to. However, the…
The Consumer Financial Protection Bureau (CFPB) has announced that $384 million will be distributed to 191,000 victims of illegal practices by an online bank. Think Finance’s Illegal Loans In 2017, the CFPB filed a lawsuit against Think Finance, a Texas-based lender, for deceiving customers into repaying loans they did not owe. The loans, issued in…
An altcoin associated with a security-focused crypto wallet, SAFE, has outperformed the crypto market this week, rising over 40%. New Swaps Feature SAFE, a smart contract wallet, recently introduced a native swaps feature. This feature consolidates transactions, reducing gas fees and the need for multiple signatures. It also offers built-in protection against maximal extractable value…
Market Cap Growth Signals Extended Cycle Ki Young Ju, CEO of blockchain analytics firm CryptoQuant, believes Bitcoin’s current bull cycle is only halfway through. He points to the faster growth of BTC’s market cap compared to its realized cap, a trend that historically lasts around two years. “If this pattern continues, the bull cycle might…
Solana (SOL) has taken the top spot on CoinGecko’s list of the fastest blockchains, outpacing its rival Ethereum (ETH) by a whopping 46 times. Solana’s Speed Dominance Solana has proven to be the fastest among large blockchains, with an average transaction speed of 1,504 per second (TPS) recorded in April. This speed advantage gives Solana…
Dogecoin Army Excited The Dogecoin community is buzzing after an insider hinted that X Payments, Elon Musk’s social media platform, may integrate Dogecoin (DOGE) later this year. Musk’s Silence Despite the rumors, Musk has not officially confirmed DOGE’s inclusion. However, X Corporation’s recent acquisition of cryptocurrency payment licenses has sparked speculation. Reality Check While the…
