There is a common belief that when the U.S. dollar declines relative to other main global currencies, as measured by the Dollar Strength Index (DXY), the impact on Bitcoin (BTC) is positive, and vice versa. For instance, the DXY index dropped from 103.0 on Jan. 2017 to a 92.6 low on Aug. 2017, while Bitcoin
admin
When the leaders of the American Revolution signed the Declaration of Independence on July 4, 1776, they had no guarantee of victory. The battle for independence was underway, and their prospects were uncertain. Despite occasional victories, these audacious freedom fighters were grossly outnumbered and had difficulty retaining volunteer soldiers. Their commitment to the cause of
Bitcoin (BTC) headed lower into the July 5 Wall Street open as a risk-off mood entered United States equities. BTC price begins hitting dip-buying targets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD tapping multi-day lows of $30,280 on Bitstamp. BTC price action continued a sideways trading pattern within a larger range in place
According to a Reddit post, a developer has posted an unusual farewell note, apologizing and blaming his online gambling woes after leaving a project in shambles, turning a $2 million valuation into $20,000 within minutes. Several investors in the Encryption AI project have reported that its developer performed a rug pull during a liquidity migration event. As
In the latest episode of The Market Report, Cointelegraph analyst and writer Marcel Pechman discusses the latest change to the BlackRock spot Bitcoin exchange-traded fund (ETF) filing, which adds Coinbase as a “surveillance-sharing partner.“ Some analysts have signaled that the filings by BlackRock, Fidelity and others are responsible for the recent Bitcoin (BTC) rally toward
“Any kid who doesn’t learn something about Bitcoin is missing out,” says Bitcoin advocate Ben De Waal. De Waal explains that his 12-year-old daughter Samantha has already convinced “a couple” of her schoolmates and a teacher to hop on the Bitcoin bandwagon, though she’s not attempting to “orange pill the entire school”… yet. Thanks to
Financial regulators in Denmark are coming after cryptocurrency service providers, declaring that local banks are not allowed to hold cryptocurrency to hedge against trading risks. On July 4, the Danish Financial Supervisory Authority (DFSA) officially ordered the local investment bank Saxo bank to dispose of its own holdings in crypto. The regulator said that Saxo
If humanity were to amalgamate with artificial intelligence in the future, Bitcoin could be the native currency of choice for sentient machine intelligence, according to Tether CTO Paolo Ardoino. Ardoino delved into this hypothetical reality in conversation with Cointelegraph journalist Joseph Hall during an interview conducted during the Plan B Summer School in Lugano, Switzerland. Pick
Cryptocurrency-friendly bank DBS is cooperating with mainland China on the development of a new payment solution for the digital yuan, also known as e-CNY. DBS Bank China officially announced on July 5 the launch of the e-CNY merchant solution, allowing mainland businesses to receive payments in the central bank digital currency (CBDC). The new service
The Reserve Bank of India (RBI) is currently in dialogue with its counterparts from at least 18 other countries on the possibility of cross-border payments in the “digital rupee”. The report about RBI’s ambitious foreign trade plans for the Indian central bank digital currency (CBDC), appeared in the Economic Times on June 27. It cites
A lawyer leading the United Kingdom’s Law Commission’s review of the application of British laws toward digital assets has stressed the need for further clarity around cryptocurrency lending. Laura Burgoyne unpacked the details of the organization’s four major recommendations to the U.K. government in an interview with Cointelegraph. This comes after a lengthy review process of
South Africa’s financial regulator has announced that all crypto exchanges in the country will be required to obtain licenses by the end of the year, according to a report by Bloomberg. Financial Sector Conduct Authority (FSCA) Commissioner Unathi Kamlana stated that the FSCA has received approximately 20 license applications since its recent opening, and expects
Bitcoin (BTC) bulls face a tough task to bring BTC price action past $35,000, fresh analysis predicts. In its latest market update on July 5, trading firm QCP Capital flagged the mid-$30,000 range as a potential cooling-off point for the Bitcoin bull market. Bitcoin homes in on pot-FTX rally peak With BTC price stagnating around
Binance Australia is working with local authorities on meeting compliance requirements amid reports alleging that the company’s offices were searched on July 4. “We are cooperating with local authorities and Binance is focused on meeting local regulatory standards in order to serve our users in Australia in a fully compliant manner,” a spokesperson for Binance
In a significant development for XRP investors, federal judge Phyllis J. Hamilton from the United States District Court for the Northern District of California has certified a class of investors in the class-action lawsuit Zakinov vs. Ripple Labs Inc. The lead plaintiff alleges that Ripple violated federal and state laws by failing to register its
Billionaire entrepreneur Mark Cuban has again locked horns with former securities chief John Reed Stark, this time over who was ultimately to blame for FTX’s collapse and the impact on creditors. During a heated back-and-forth exchange, Cuban argued had the United States Securities and Exchange Commission set “clear regulations,” no one would have lost money
Account abstraction, also known as “smart accounts” could eventually onboard a billion users from the Asia region to Web3, according to an executive at Ethereum software solutions provider ConsenSys. Speaking to Cointelegraph, the director of strategic initiatives at ConsenSys, Laura Shi, noted that the Ethereum and Web3 ecosystem has seen a strong expansion in Asia
Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation aimed at expanding authorities’ ability to target cryptocurrencies used for illicit purposes. In a meeting of the U.K. Parliament’s House of Lords on July 4, lawmakers conducted a third reading of the Economic Crime and Corporate Transparency Bill
A team member for Lido has accused competitor Rocket Pool of being too centralized in a July 4 social media post. Both Lido and Rocket Pool are liquid staking protocols that allow users to delegate their cryptocurrency to validators and receive derivative tokens in exchange. According to the post from Lido’s community staking lead Dmitry
Recent weeks have seen a surge in interest from traditional finance for crypto-based exchange-traded funds (ETFs). After the Securities and Exchange Commission took issue with its initial filing, BlackRock submitted a fresh application for a Bitcoin ETF on July 3. A week earlier, Fidelity led a crop of investment firms in lodging applications with the