Author: NBTC
Jack Dorsey’s fintech firm Block is being probed by federal prosecutors after a former employee claimed that “everything in its compliance section was flawed” and that it’s “led by people who should not be in charge of a regulated compliance program.” As reported by NBC, the whistleblower also claimed that Block and its business units Cash App and Square transacted crypto for terrorists, facilitated payments for sanctioned countries, and flouted compliance protocols. The whistleblower — a former Block employee — reportedly provided 100 pages of documents to prosecutors from the Southern District of New York that show the alleged malpractice.…
In a sobering analysis for cryptocurrency enthusiasts, veteran trader Peter Brandt casts doubt on the continuation of the current Bitcoin (BTC) bull run, suggesting that a possible peak has already been reached with serious retracements potentially on the horizon. This assessment, deeply rooted in historical price cycle data, presents a grim outlook for the near future of Bitcoin‘s market value. Historical patterns and exponential decay Brandt’s detailed analysis examines the diminishing momentum seen across Bitcoin’s previous bull cycles. According to Brandt, each cycle since Bitcoin’s inception has experienced a sharp decrease in exponential growth, culminating in what he describes as…
Exploring Ethereum’s potential for a bullish rally from a critical support level. Analyzing key technical indicators and market sentiment surrounding ETH. Providing strategic insights for investors eyeing Ethereum’s price movements. Discover the latest analysis on Ethereum’s price trajectory and investment opportunities. Will Ethereum Continue to Fall? Medium-Term ETH Analysis Daily ETH/USD Chart Upon examining Ethereum’s daily technical chart, it’s currently holding at the $2870 support level. Ethereum has experienced a decline towards critical weekly support, prompting analysts to identify $2870 as an initial accumulation zone for long-term investors. Opportunities at Support Levels If Ethereum retreats to the $2620 support level,…
A Solana (SOL) address received over $40 million within 24 hours in the latest episode of the ‘meme coin pre-sale mania.’ A user on X who goes by Bobaoppa published the wallet address for investors interested in joining the pre-sale of the dog-themed meme coin BOBAOPPA, with a 1 SOL minimum investment. The dog used to illustrate and promote the meme coin is the pet of Jeffrey Huang, who is also the person behind the pre-sale. The crypto community better knows Huang as Machi Big Brother, a controversial figure in crypto accused of allegedly promoting decentralized finance (DeFi) projects for…
Ladan Stewart, a former key figure at the US Securities and Exchange Commission (SEC), has publicly refuted claims suggesting a governmental agenda against crypto. She emphasizes that the regulatory body’s actions never aimed to stifle innovation in the nascent industry. Cryptos Will Not Be Eliminated in the US Stewart, now a partner at White & Case LLP, explained that during her tenure at the SEC, her primary focus was on litigating high-profile cases such as those against Ripple and Coinbase. She pointed out that the agency’s approach has always been technologically neutral. Therefore, she clarified the widespread speculation about a…
As Bitcoin (BTC) continues to trade in a consolidation phase below $65,000, technical indicators and historical performances suggest that the maiden cryptocurrency might be on the brink of significant capitulation in the coming months. In particular, crypto trading expert Alan Santana’s analysis in a TradingView post on April 27 suggested that Bitcoin could drop over 50% from its current price to $30,000. The analyst warned investors to beware of the imminent “capitulation drop,” which he suggested marks a significant event that occurs only once every several years. Santana’s calculations are based on Bitcoin’s average trading range over the past month…
The price of Ethereum (ETH) has fallen below the moving average lines for the third time, indicating a rejection by the moving average lines. Price analysis by Coinidol.com. Long-term analysis of the Ethereum price: bearish Ether’s upward movement is currently encountering firm resistance at the moving average lines and the $3,400 mark. On April 28, 2024, the altcoin broke through the 21-day SMA and the $3,056 support level after its rejection of the $3,400 resistance zone. Ethereum fell and tested its previous low of $2,848 before recovering. At the time of writing, Ether is currently valued at $2,889.50. If the…
Polygon PoS is seeing an upgrade in tandem to Ethereum’s Dencun upgrade The Napoli upgrade is an upgrade of Ethereum’s Cancun upgrade, bringing multiple benefits to nodes and improving the overall health of the network. Polygon (formerly known as Matic Network) is continuing to make strides in improving the user experience and network efficiency with their brand new upgrade that has just dropped. The Napoli upgrade aims to enhance the overall functionality of the Polygon platform and provide users with a better experience. The Napoli update aims to improve the user experience and the Polygon platform’s overall functionality. Accompanying it…
The Abu Dhabi Global Market (ADGM) has signed a memorandum of understanding (MoU) with leading blockchain auditing firm Hacken to ensure strict adherence to minimum industry benchmarks. According to a joint statement by both parties, the collaboration will pave the way for new security standards as ADGM pivots toward blockchain and other emerging technologies. Described as a “unique synergy,” the MoU seeks to create new on-chain monitoring solutions in line with global best practices. The arrangement will be focused on ADGM’s DLT Foundations framework, a regulatory playbook for operators in the free-trade zone. The framework provides step-by-step guidance for service…
Ethereum, the second-largest cryptocurrency by market capitalization, has recently marked a significant milestone in its network growth despite facing a bearish market trend in terms of price fluctuations. According to data shared by Santiment, a leading provider of on-chain metrics, Ethereum witnessed a remarkable surge in new wallet creations over a two-day period, underscoring the resilience and expansion of the Ethereum network. On April 28th and 29th, a staggering 266,600 new wallets were added to the Ethereum blockchain, representing the highest influx of new users since October 8th and 9th, 2022. This surge in wallet creations is a clear indication…