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ETH fell below $2,600 after encountering strong resistance above $2,700. This pullback could be a trap that could cause a short squeeze in ETH as leverage spikes. Ethereum (ETH) is on its third day of bearish retracement after encountering resistance above $2,700. However, there is speculation that the decline will be short-lived. Recent CryptoQuant analysis suggests that ETH short positions have surged above the $2,700 price level. This confirmed that many were expecting a retracement due to previous resistance at this price level. Selling pressure is currently outweighing demand, with the price rising to $2,584 at the time of writing.…
The UK is expected to pass stablecoin legislation in the coming months, an executive from the USD Coin (USDC) Publishers Circle said. The development is a major boost for the UK as it looks to start controlling the use of digital assets as stablecoins become more popular around the world. In an interview with CNBC, Circle global policy director Dante Disparte explained that the UK could pass stablecoin legislation within months rather than years. Disparte’s comments come as stablecoin adoption is increasing, with the overall market capitalization of stablecoins expected to reach nearly $170 billion by Q3 2024. Traditional asset-backed…
Vietnam has announced a national blockchain strategy that aims to become a regional leader in blockchain technology by 2030. The strategy, approved by Deputy Prime Minister Ho Duc Phuc, outlines five key actions: improving the legal environment, developing infrastructure, developing human resources and improving social status. Promoting blockchain development, research and international cooperation. 📢Just in: Vietnam officially announces national blockchain strategy — BSCN Headlines (@BSCNheadlines) October 23, 2024 The government plans to establish 20 famous blockchain brands, maintain 3 blockchain testing centers, and rank among the top 10 blockchain training institutions in Asia. The Ministry of Information and Communications, the…
A smart money strategy is to invest in pre-sales that offer great benefits to pre-sellers. Even if you invest in a popular coin like Dogecoin, which has already gained a lot of popularity, it is unlikely that you will easily get returns of 200x to 10,000x in the short term. Which is more likely to give you 10000x? Dogecoin or Propichain? As the hype around cryptocurrencies dies down, so too does enthusiasm for the coin, potentially sending the coin well below its all-time high. This is evident in the price movement of Dogecoin, which has fallen over 80% since its…
A Circle spokesperson said the UK plans to introduce legislation to regulate stablecoins in the coming months. Circle, the issuer of USD Coin (USDC), expects these laws to be implemented soon, as stated in a CNBC interview with Dante Disparte, Circle’s head of global policy. Disparte told CNBC that stablecoin legislation will be implemented in the UK “within months, not years.” The use and adoption of stablecoins skyrocketed in the third quarter of 2024, with stablecoin market capitalization reaching an all-time high of nearly $170 billion in the third quarter of 2024. Stablecoins have gained popularity because they offer the…
New Starbucks CEO Brian Nicol’s decision to pre-announce unexpected earnings results is not a reason to sell stock, Jim Cramer said Wednesday. “It’s surprising that some people think[these results]are surprising,” Jim said. “If you sell your stock today, you’re selling because you’re reacting to negative press and analysts rather than positive,” the struggling coffee chain said Tuesday night. Starbucks stock fell about 1% after the company released preliminary quarterly results, which were worse than Wall Street expected when the company’s earnings are due next Wednesday. Preliminary fourth-quarter revenue was $9.1 billion, down 3% from a year earlier and below analyst…
Partisia Blockchain, under the leadership of CEO Adrienne Youngman, is taking significant steps to solve the long-standing challenge of data privacy on public blockchains. Underpinned by its foundation, the company is focused on delivering innovative solutions that leverage advanced multiparty computation (MPC) technology. This approach aims to protect sensitive data while preserving the benefits of a public blockchain system. Mr. Youngman emphasized that Partisia Blockchain has unique and deep expertise in this field, positioning the company as a leader in privacy-focused blockchain technology. Public blockchains have historically been plagued by privacy issues, making it difficult for enterprises to adopt them…
Indian private equity firm Aurum Equity Partners has launched a $1 billion worth token fund on the XRP ledger, consolidating equity and debt assets. The investment firm’s new tokenization fund will establish data centers in major cities including the US, Europe, India, United Arab Emirates, and Saudi Arabia. The fund will use Zoniqx’s asset tokenization solution and the Dynamic Compliant Interoperable Security Token Protocol, a multi-jurisdiction, global compliance-focused protocol that helps turn real-world assets into digital assets. is. Aurum Equity Partners and XRP Fund Make Ripples The fund plans to attract a wider range of investors, especially smaller investors who…
font size The Nigerian government on Wednesday dropped money laundering charges against Tigran Gambariyan, an executive at crypto firm Binance, state news agencies reported. The head of financial crimes compliance for the world’s largest cryptocurrency exchange platform, a US citizen, has been detained since February on suspicion of laundering approximately $35 million with the company. According to the News Agency of Nigeria, he and Binance denied the charges, but a lawyer for government anti-graft authorities said the charges were dropped due to Gambarian’s deteriorating health. Authorities in Africa’s major economies have imposed restrictions on virtual currency exchanges as part of…
Cryptocurrency trading company Official Gredo Limited has been found guilty in a Nigerian court of illegally conducting Tether (USDT) naira transactions without a banking license, Nairametrics reports. On Wednesday, the court heard charges that Guledo officials failed to report a transfer of 76.5 million naira ($46,000) to the Nigerian Financial Intelligence Service, in violation of Nigeria’s money laundering laws. Nnamdi Okereke, director of a virtual currency company, has pleaded guilty to one count of money laundering. Read more: FBI details how to launder USDT through Binance As part of their plea deal with the Economic and Financial Crimes Commission (EFCC),…