US regulators have raised concerns about the contingency plans of major banks, including JPMorgan Chase, Bank of America, and Citibank, for managing trillions of dollars in derivatives. Inadequate ‘Living Wills’ The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) have found that the banks’ “living wills” – plans for winding down their operations without government…
A renowned crypto analyst predicts that altcoins are poised for a significant rally before the current crypto cycle concludes. Triggering Events The analyst, Altcoin Sherpa, believes one of two events must occur before a major altcoin rally: Final Capitulation: A sharp decline that shakes out weak hands, similar to Solana’s drop in December 2020. Consolidation…
SkyBridge Capital CEO Anthony Scaramucci predicts that Bitcoin (BTC) and Ethereum (ETH) could soar significantly in this market cycle. Price Targets Scaramucci believes Bitcoin could reach $170,000 to $250,000, while Ethereum could hit $10,000 to $12,000. Biden’s Re-election and Crypto’s Future Scaramucci anticipates that President Joe Biden’s re-election in November will lead to new all-time…
Chainlink (LINK) Cryptocurrency analyst Michaël van de Poppe predicts a significant rally for Chainlink (LINK). He notes that LINK’s price pattern against Bitcoin resembles a previous trend that led to a 150% surge. Bitcoin (BTC) Van de Poppe believes Bitcoin may bottom out around $63,000-$65,000 before reversing upwards. He suggests that a reversal is imminent….
Recent Price Action Bitcoin’s performance has been disappointing, with a significant decline in its price. This trend has also affected other major cryptocurrencies. Analysis from CryptoQuant According to blockchain intelligence firm CryptoQuant, Bitcoin could drop to $60,000. This is based on the fact that Bitcoin has fallen below a key support level of $65,800. Bearish…
Robinhood’s Mysterious SHIB Transfer Robinhood recently transferred a massive 2.2 trillion SHIB tokens, worth around $40 million. This has raised concerns about a possible sell-off by the exchange. Meme Coin Mania: On the Decline? CryptoQuant suggests that the meme coin craze may be fading. The dominance of meme coins in the crypto market has declined…
Fidelity’s Seed Capital Fidelity has updated its application for an Ethereum ETF, revealing that it has invested $4.7 million in seed capital. The company purchased 125,000 shares of the fund at a price of around $38 each. No Staking for Fidelity Fidelity has confirmed that it will not participate in Ethereum staking, a process that…
The Nigerian Securities and Exchange Commission (SEC) has introduced a new program to streamline the registration process for virtual asset service providers (VASPs). Accelerated Regulatory Incubation Program (ARIP) The ARIP is a 30-day window for VASPs to complete their registration requirements. It’s open to both existing and prospective VASPs in Nigeria. Registration Deadline VASPs that…
US Lawmakers’ Appeal US lawmakers are urging the release of Binance executive Tigran Gambaryan, who has been detained in Nigeria since February. Prison Visit and Health Concerns Two US representatives recently visited Gambaryan in prison and reported alarming details about his health. He is reportedly suffering from malaria, double pneumonia, and weight loss. Despite a…
Unrealized Losses Force Major Sell-Off Norinchukin Bank, a major Japanese bank, has announced plans to sell off $63 billion worth of US and European government bonds. This move aims to reduce massive unrealized losses on the bank’s balance sheet. The bank’s total assets amount to $681.6 billion. By March 2024, it expects to complete the…
