Tag Archives: cryptocurrency

Bitcoin Drops $2K as China Declares Cryptocurrency-Related Business Illegal

Bitcoin Drops $2K as China Declares Cryptocurrency-Related Business Illegal

Bitcoin erased Thursday’s 3% gain as PBOC stepped up its crackdown on crypto China strengthened its anti-crypto stance on Friday, torpedoing bitcoin’s two-day winning run. The People’s Bank of China (PBOC) said bitcoin, ether, and stablecoin tether do not qualify as legal tender and cannot be used in the currency market. The central bank declared all virtual […]

US Sanctions Enforcer Blacklists a Crypto Exchange for First Time

US Sanctions Enforcer Blacklists a Crypto Exchange for First Time

The Treasury’s Office of Foreign Assets Control labeled Suex.io a “specially designated national,” putting the exchange in a category with suspected terrorists. The U.S. government has sanctioned a cryptocurrency exchange for the first time as part of its ongoing fight against ransomware attacks. The Treasury Department announced Tuesday it is adding Russia-based Suex.io to its list of […]

Bitcoin in Pullback Mode, Support at $40K-$42K

Bitcoin in Pullback Mode, Support at $40K-$42K

Initial support is seen at $40K-$42K, which could stabilize the pullback. Bitcoin (BTC) sellers were active over the weekend as the cryptocurrency’s price dipped below the 200-day moving average at $45,000. Initial support is seen in the $40,000-$42,000 range where a breakout occurred on Aug. 6. The $50,000 resistance level was tested several times over […]

Interactive Brokers rolls out crypto trading with Paxos

Interactive Brokers rolls out crypto trading with Paxos

Global electronic brokerage firm Interactive Brokers Group is teaming up with Paxos to enable crypto trading. Interactive Brokers’ clients can now trade and custody Bitcoin, Ethereum, Litecoin and Bitcoin Cash through Paxos. The assets will be accessible alongside traditional assets through a single interface. For now, the services are only available to U.S. residents with […]

Scaramucci’s SkyBridge accelerates its move into crypto with a blockchain partnership

Scaramucci’s SkyBridge accelerates its move into crypto with a blockchain partnership

SkyBridge Capital’s Anthony Scaramucci is stepping up his firm’s move into the cryptocurrency world, announcing on Monday a partnership aimed at expanding into the blockchain universe. The hedge fund is joining with trading platform NAX in a series of fundraising efforts, the first of which will seek to bring in up to $250 million. Using […]

ADA, SOL Lead the Way as Crypto Market Sees Price Pullback

ADA, SOL Lead the Way as Crypto Market Sees Price Pullback

“It is normal for investors to reduce exposure to enter at a lower price,” one observer said. The crypto market is a sea of red, with Solana’s SOL, Cardano’s ADA (+0.4%) tokens and other alternative cryptocurrencies taking a bigger hit than bitcoin (BTC, +1.63%) and ether (ETH, +1.27%). The move seems typical of a breather often observed after notable rallies. ADA was trading […]

SEC Needs Clear Authority Over Crypto Platforms, Gensler Says

SEC Needs Clear Authority Over Crypto Platforms, Gensler Says

The SEC chair spoke of the agency’s desire to “stitch together” consumer protection for tokens sold as securities and tokens sold as commodities. The U.S. Securities and Exchange Commission (SEC) needs clear authority over platforms that trade or lend crypto, Chair Gary Gensler said. Talking to CNBC’s Squawk Box Wednesday, the SEC chair spoke of the agency’s […]

Bitcoin Approaching Short-Term Support at $34K-$36K

Bitcoin Approaching Short-Term Support at $34K-$36K

Bitcoin is under pressure, although buyers could return for a brief bounce. Bitcoin (BTC) sellers remained active during Asia hours as the cryptocurrency slipped further below $40,000 resistance. The next level of support is seen around $34,000-$36,000, which could stabilize the pullback. Bitcoin was trading around $38,000 at press time and is down 2% over […]

$25B investment firm adds ‘riskier’ Grayscale GBTC and ETHE for clients

$25B investment firm adds ‘riskier’ Grayscale GBTC and ETHE for clients

Wealthfront users will now be able to have up to 10% of their portfolios composed of the Grayscale Bitcoin and Ethereum Trusts. Bitcoin (BTC) and Ether (ETH) exposure has come to one of the world’s biggest automated investment firms. In a blog post on July 29, Wealthfront, which has $25 billion in assets, confirmed that it had […]

Bitcoin Drops Below $30K for First Time in 4 Weeks

Bitcoin Drops Below $30K for First Time in 4 Weeks

Wall Street is seeing “too much froth” and current virus jitters are triggering widespread panic selling of every top performing asset, including bitcoin, said one analyst. Bitcoin dropped below $30,000, breaking below a trading range that had held for the past four weeks and potentially setting up the largest cryptocurrency for deeper price declines. The cryptocurrency […]