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Crypto, Equity, Metal Markets Plunge as Tech Earnings Disappoint and US Economic Weakness Deepens
25.1.2023
Equity markets began the day in the red following the latest corporate earnings reports from some of the world’s largest firms, including Microsoft. The tech giant’s recent conference call was considered disappointing, and earnings from firms such as Boeing, Texas Instruments, and...
Biggest Movers: DOGE Drops to 5-Day Low on Wednesday
25.1.2023
Dogecoin slipped to a five-day low on Wednesday, as the meme coin fell for a second straight session. The move saw prices drop by over 5%, edging closer towards a key price floor in the process. Polygon also extended recent declines, hitting its weakest point since January 19. Dogecoin (DOGE)...
Unredacted Financial Documents Show Blockfi’s $1.2 Billion Connection With FTX, Alameda Research
25.1.2023
Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what...
Bitcoin, Ethereum Technical Analysis: ETH Falls Below $1,600 as Relative Strength Sinks
25.1.2023
Ethereum moved below $1,600 on Jan. 25, with bears selling previously overbought cryptocurrencies. After days of uncertainty, sentiment shifted in crypto markets, with a red wave washing away recent bulls. Bitcoin also dropped below $23,000 as a result of today’s sell-off. Bitcoin Bitcoin...
Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries
25.1.2023
President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also...
New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning
25.1.2023
Crypto asset service providers in South Africa seeking to attract investors via advertisements must “expressly and clearly state that investing in crypto assets may result in the loss of capital.” Influencers working on behalf of crypto asset service providers must “not offer...
Elon Musk Praises Reports on Latam Common Digital Currency: ‘Probably a Good Idea’
25.1.2023
Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a good idea,” commenting on the topic on social...
Crypto Regulation Is Like a Flimsy Umbrella in a Monsoon
25.1.2023
You know what they say, “when life gives you lemons, make lemonade.” But when it comes to protecting your crypto funds on centralized exchanges (CEXes), the old adage should be “when life gives you regulations, make a self-custody wallet.” Self-custody is undoubtedly...
Jim Cramer Says Avoid Crypto, Stick With Gold for ‘Real Hedge’ Against Inflation and Economic Chaos
25.1.2023
The host of Mad Money, Jim Cramer, has advised investors to avoid crypto and stick with gold if they “seriously want a real hedge against inflation or economic chaos.” He added that bitcoin is too volatile to use as a currency. “Imagine business owners trying to conduct...
Economist Peter Schiff Explains Why Bitcoin and Gold Are up This Year — ‘They’re Rising for Opposite Reasons’
25.1.2023
Economist and gold bug Peter Schiff has explained why bitcoin and gold are going up this year. “They’re rising for opposite reasons,” he said, claiming that the price of gold is climbing as investors view the metal as a hedge against inflation and a weaker dollar. Peter Schiff...
Bank of America, JPMorgan, Wells Fargo Collaborate to Launch Digital Wallet: Report
25.1.2023
Seven major banks, including Bank of America, JPMorgan Chase, and Wells Fargo, have reportedly teamed up to launch a digital wallet that will compete with other third-party wallet providers such as Paypal and Apple Pay. Big Banks to Launch a Digital Wallet Bank of America, JPMorgan Chase, Wells...
Casting Stones From a Glass House: Yellen’s Comments on Zambia’s Debt Restructuring Draw Criticism From Chinese Embassy
24.1.2023
The Chinese embassy in Zambia denounced the United States over its debt limit and the “extraordinary measures” Treasury secretary Janet Yellen has implemented to stave off a U.S. debt default. Yellen said on Monday that it was very important that Zambia restructure its debt, but Zambia...
Finder’s Experts Predict Bitcoin to Peak at $29K in 2023, But Forecast a Low of $13K
24.1.2023
The price of bitcoin is set to rise in 2023, but crypto and fintech experts chosen by the product comparison web portal finder.com do not believe the leading digital asset will break the $30,000 range this year. Finder’s panel of 56 specialists convened to give their 2023 bitcoin price...
Ghanaian Cedi Second Worst-Performing Asset Among Sub-Saharan Africa’s Top 15 Currencies
24.1.2023
In just the first 17 days of the new year, the Ghanaian currency reportedly depreciated by 12.7%, making it the second worst-performing among Sub-Saharan Africa’s top 15 currencies. While one U.S. dollar bought 13.10 units of the cedi on the parallel market, according to the latest Bank...
Quicknode Raises $60 Million in Series B to ‘Fuel Blockchain Adoption’ and Expand Globally
24.1.2023
Web3 infrastructure firm Quicknode raised $60 million in a Series B funding round, according to an announcement the company made on Tuesday. The capital injection brings the company’s post-valuation to $800 million, and Quicknode says the funds will be used to “further fuel blockchain...
Biggest Movers: AVAX Hits Multi-Month Peak, as MATIC Jumps to 1-Week High
24.1.2023
Avalanche moved to a multi-month high on Jan. 24, after reports that the number of bitcoin on its network rose to 5,493. The news saw the token surge by nearly 5% today, rising for a third straight session in the process. Polygon also moved higher on Tuesday, hitting a one-week high. Avalanche...
Washington Townhome Tied to Disgraced FTX Co-Founder Listed for $3.28 Million Amid Controversy and Bankruptcy
24.1.2023
A Washington, D.C., townhome tied to FTX co-founder Sam Bankman-Fried has been listed on the market for roughly $3.28 million. The property was purchased by Bankman-Fried’s brother’s nonprofit, Guarding Against Pandemics, for the same price it is selling for today....
Bitzlato Executives Arrested in Europe, Exchange Laundered €1 Billion, Europol Says
24.1.2023
European law enforcement authorities have detained four more members of the executive team of crypto exchange Bitzlato, Europol announced. According to the police agency, nearly half of the funds processed through the platform were associated with various criminal activities. Bitzlato Senior...
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of US GDP, Consumer Sentiment Data
24.1.2023
Cryptocurrencies continued to consolidate recent gains on Jan. 24, as markets prepared for a big week of U.S. economic data. Gross domestic product (GDP) figures for Q4 2022 will be released on Thursday, followed by consumer sentiment data the day after. Ethereum also secured recent gains...
South African Dispute Resolution Office Says It Now Considers Crypto-Related Complaints
24.1.2023
According to South Africa’s Office of the FAIS Ombud, an independent dispute resolution office, individuals with crypto-related grievances that occurred after Oct. 19, 2022, can now formally submit such complaints on the agency’s website. However, the Office of the FAIS Ombud insisted...