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While crypto started as an industry that was constantly being neglected, it now holds a notable amount of prominence. As seen over the last couple of months, the crypto market, particularly Bitcoin [BTC] has reacted to several moves made by governments across the globe. Meetings, statements, and surges or declines in interest rates by the United States Federal Reserve have particularly influenced the market. More recently, Federal Reserve Chair Jerome Powell signaled a potential decline in interest rate hikes during the month of December. During its final meeting of 2022, Powell noted that the Fed would push down the interest rates by 50 basis points or 0.5 percentage points. It should be noted that the previous hikes were at 75 basis points or 0.75 percentage points. Elaborating on the same, Powell said, “It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. Time for moderating the p

Despite taking issue with tokens created by centralized exchanges, BlackRock’s CEO sees securities tokenization as the next evolution of the financial market. The CEO of the worlds largest asset management firm, BlackRock, believes that the reason why FTX failed is because it created its own FTX Token (FTT), which was centralized and therefore at odds with the “whole foundation of what crypto is.” Larry Fink, who serves as chairman and CEO of the $8 billion investment company — made the remarks during New York Times’ 2022 Dealbook Summit held on Nov. 30, and added that despite his belief that FTX's own-created token caused its downfall , he believes that crypto and the Blockchain technology which underpins it will be revolutionary . BlackRock CEO Larry Fink speaking at the 2022 DealBook Summit. Source: New York Times. Centralized exchange tokens, such as Binance Coin (BNB) and fellow exchange Crypto.com’s Cronos (CRO), account for over $57 billion of the $862 billion total crypto

Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin has surged almost 2% in the past 24 hours, along with several other crypto assets like Ethereum, USDT, etc. This comes as a relief for the investors who had to suffer a sudden loss in value of the digital asset since the FTX failure. Bitcoin, which was sailing as high as $66,000 around the same time a year ago, seems to have lost more than 75% of it as it is currently struggling to cross the $20,000 mark. However, the coin now seems to have recovered a lot from its lowest value of $15,709 (the lowest it has been in 2022 as of now). The coin now appears to follow an upward trend bringing good news for investors and the crypto market. Possible Reasons Behind Bitcoin’s Upward Movement The news of the spike in Bitcoin’s value amid turmoil in the crypto market due to the FTX disaster came as a surprise to investors. However, to make the right move and not let market sentiments take over one’s decision

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. New York, NY, 30th November, 2022, Chainwire Utherverse, one of the largest metaverse platforms in the world, has signed a partnership agreement with Tokensoft, the leading technology platform for launching digital assets. The deal will facilitate the first and second presale rounds of Uther Coin (UTHX) as part of the token’s initial decentralized offering (IDO).   Uther Coin will be the primary token used for transactions throughout the next generation Utherverse Software Platform. Utherverse powers one of the most popular and advanced metaverses ever built. As such, Uther Coin will be needed by everyone accessing the preeminent metaverse.  “Tokensoft has proven itself a credible resource for IDOs that delivers on its promises and the recent launch of its Web3-enabled platform makes it one of the strongest performers out

The Bitcoin price prediction shows that BTC touches the daily high of $17,077, and the coin is holding above the $16,500 level. Bitcoin Prediction Statistics Data: Bitcoin price now – $16,861 Bitcoin market cap – $324.49 billion Bitcoin circulating supply – 19.2 million Bitcoin total supply – 19.2 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $21,000, $23,000, $25,000 Support Levels: $14,000, $12, 000, $10,000 BTC/USD has been extremely volatile as the coin has traded above the resistance level of $17,000 in the past few weeks. At the moment, the Bitcoin price seems to be stuck around the 9-day and 21-day moving averages. More so, BTC/USD is ranging within the channel. Therefore, since the price is above the 9-day and 21-day moving averages, it indicates that a breakout may come to play. Bitcoin Price Prediction: Bitcoin (BTC) May Reclaim $20,000 Resistance According to the daily chart, if the Bit

According to the CEO, the exchange grew too fast to accommodate the fast-growing crypto ecosystem Cryptocurrency exchange Kraken announced on Nov 30, that it has made “one of the hardest decisions” to cut down its global workforce by approximately 1,100 people, making up approximately 30% of its total workforce , amid current market conditions. According to the CEO and co-founder Jesse Powell, Kraken had to triple its workforce due to the fast-growing crypto ecosystem, and the current pullback takes the company’s team size back to where it was 12 months ago.  Powell shared in a tweet; "Macro was already tough and we held out but recent industry woes diminished near-term optimism about a crypto bound." Rough day at @krakenfx. Headcount rolled back 12 mos. Macro was already tough and we held out but recent industry woes diminished near-term optimism about a crypto rebound. Better positioned now. Glad we were able to take good care of our former colleagues. Been a privile

Join Our Telegram channel to stay up to date on breaking news coverage DOGE, the cryptocurrency that powers the Dogecoin payments blockchain, has pulled back from earlier session highs in afternoon US trade. DOGE/USD was last changing hands around $0.1020, about 7% below versus earlier session highs. However, the cryptocurrency is still up about half a percent on the day, about 3.5% on the week and well over 40% versus its earlier monthly lows around $0.07. DOGE/USD eases back from earlier highs, but still well up versus monthly lows. Source: TradingView Sentiment in the broader cryptocurrency space remains buoyant, with bitcoin up close to 3% and ethereum close to 5% in the last 24 hours as per CoinMarketCap. But other major cryptocurrencies have also eased back from highs in tandem with a subdued feel to trade across traditional assets as macro investors await an important upcoming speech from the Chairman of the Federal Reserve Jerome Powell. Dogecoin Technicals Looking Bul

Source: Adobe Stock / May Chanikran Coin prices across the crypto market have crashed this year, leaving many investors wondering what to do next. However, bear markets don't last forever, and some projects with strong fundamentals, real use cases, solid teams, and enthusiastic investor backing will no doubt come out the other side ready for major gains. Dash 2 Trade (D2T), RobotEra (TARO), IMPT, and Calvaria (RIA) are four such cryptocurrencies for the bear market that experts are predicting to do well in 2023. Dash 2 Trade With a rising demand for project vetting tools and community Analysis after the FTX crash and burn and ongoing fallout, Dash 2 Trade (D2T) is set to do very well this upcoming year amidst a bearish crypto market. Many investors are expected to turn to D2T for its comprehensive and innovative platform Features that will help them weather the storm, as well as its promise of alpha-generating opportunities through its presale dashboard. Some

Tether – the issuer of the world’s largest stablecoin, USDT – is once again being pressured to demonstrate the quality of its reserves.  On Tuesday, the company was ordered by a U.S. court in New York to provide detailed financial documents for evaluating claims around the asset’s backing.  An ‘Extraordinary’ Request The order is part of an ongoing 2019 lawsuit claiming that Bitfinex and Tether conspired to inflate Bitcoin’s price by pumping the market with unbacked Tether tokens. At the time, plaintiffs alleged that both companies’ actions led to over $1.4 trillion in damages.  In a letter exchange between Tether’s attorneys and the judge, the former attempted to block the release of requested documents. These included ““general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements.” KYC & Audit Solutions! SolidProof As the attorney argued, such requests were “incredibly overboard” and “unduly burdensome” to expect

As the FTX crisis draws on, competitor and leading global exchange platform Binance recorded a jump in client withdrawals. Users have pulled out assets such as Bitcoin, Ethereum, and other stablecoins from the firm as tensions soar throughout the market.  CZ however dismissed any worries, describing the increased withdrawals as only ‘slight’ and ‘normal’.  Binance Users Withdraw BTC, ETH, and Others On-chain data platform CryptoQuant reports BTC withdrawals on Binance totaling 81,712 tokens. This amounts to roughly $1.35 billion at current prices. In just under a week, clients have taken out what constitutes over 15% of the platform’s entire Bitcoin volume, about 500k BTC. Users also withdrew about $155 million worth of Ethereum tokens, approximately 125,026 units of the digital asset. $1.14 billion in stablecoins also exited the exchange platform within the same time frame. Notably, the large exit volumes are not isolated to Binance. Indeed, Coinbase, Gemini, and Kraken are

Despite a tentative feel to macro trading conditions and stock, bond, commodity and currency market traders tread water ahead of a key speech from Fed Chairman Jerome Powell and the release of key November US jobs data on Friday, cryptocurrency markets have been rallying. Bitcoin was last trading around 2.5% higher on the day in the upper $16,000s, breaking above its 21-Day Moving Average (DMA) and extending its gains since earlier monthly lows to around 8.5%. Bitcoin is up around 2.5% on Wednesday. Source: TradingView The world’s largest cryptocurrency is still trading down around 20% versus its pre-FTX collapse levels in the $21,000s, however. Here are a few altcoins that investors looking to shake up their crypto portfolios should consider. Dash 2 Trade (D2T) Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto tradin

After the European Central Bank released a blog post on the shortcomings of Bitcoin, the crypto community on Twitter took to the comments to defend the cryptocurrency. In light of the recent FTX collapse and liquidity scandal, regulators in the European Union have joined other global lawmakers in a push for more clear guidelines and regulations on cryptos. The European Central Bank (ECB) released a blog post titled “Bitcoin’s last stand” on Nov. 30, which summarized the financial career of Bitcoin (BTC) amid current price fluctuations. However, instead of outlining the entire picture, which would include both up and downs of the cryptocurrency’s lifespan thus far, it only portrayed its shortcomings. Written by Ulrich Bindseil and Jürgen Schaaf, the director general and advisor of the ECB, the piece says the digital currency is on “the road to irrelevance.” It also claimed that BTC is hardly used for legal transactions and that the regulatory attention it is currently receiving from

Source: AdobeStock / Iryna Budanova Binance has acquired 100% of Sakura Exchange BitCoin (SEBC), a crypto platform registered in Japan, to enter the Japanese market in a regulated way. In an announcement today, the world's largest cryptocurrency exchange said it will enter the Japanese market as a Japan Financial Services Agency (JFSA) regulated entity through the acquisition. The exchange did not disclose the terms of the transaction.  “The Japanese market will play a key role in the future of cryptocurrency adoption. As one of the world’s leading economies with a highly-developed tech ecosystem, it’s already poised for strong blockchain uptake," Takeshi Chino, general manager of Binance Japan, said.  Binance claimed that it aims "to support a responsible global environment for cryptocurrencies" by offering Japanese-regulated services through SEBC. According to the announcement, SEBC is a Tokyo-based JFSA-registered crypto exchange that offers br