Author: Rubab Fatima
Bitcoin’s $28K Rally Triggers Record Short Squeeze, Liquidating $36.6M. Explore Surge Reasons, Institutional Interest, and Financial Institutions’ Crypto Initiatives. According to data from CoinGlass, the recent price surge resulted in the liquidation of approximately $36.6 million worth of short positions within the past 24 hours, marking the highest amount for this month. On Tuesday afternoon, Bitcoin (BTC) experienced a significant surge, surpassing the $28,000 mark and triggering the largest short squeeze seen this month. The leading cryptocurrency, with the highest market capitalization, quickly rose to a peak of $28,150 within a few hours, following a relatively flat trading period around…
Pantera Capital Founder predicts a crypto market rally after the crypto winter, while BlackRock’s application for a Bitcoin ETF fuels positive sentiments. Dan Morehead, the visionary behind Pantera Capital, has made a compelling prediction about the imminent rise of the cryptocurrency market. As the founder and Managing Partner of Pantera Capital, he expresses a positive outlook for the future performance of the broader digital currency ecosystem. Through his official Twitter account, Dan reflects on the events that triggered the crypto winter, specifically the downfall of Terra (LUNA), and highlights the imminent turnaround that lies ahead. Reflecting On The Genesis Of…
IMF Unveils Global Platform for CBDCs, Fostering Interoperability and Efficiency. 114 Central Banks Explore CBDC Potential as Ripple Forms Partnership with Banco de la República. The IMF is actively working on a cutting-edge platform to facilitate transactions between nations using central bank digital currencies (CBDCs). This initiative reflects the IMF’s commitment to global interoperability and urges central banks to establish unified regulatory frameworks for digital currencies. With the aim of streamlining cross-border transactions, the IMF is paving the way for a future where nations can transact seamlessly and efficiently. This groundbreaking move showcases the IMF’s dedication to catalyzing economic growth…
UK Parliament’s landmark bill approves comprehensive crypto regulations, enhancing transparency and boosting investor confidence. Stay updated on its progression and the potential impact on the UK’s growing crypto sector. In a significant development for the crypto industry, the United Kingdom’s Parliament’s upper chamber, the House of Lords, has given the green light to a new bill that could establish crypto as a regulated activity within the country. The approval of the Financial Services and Markets Bill (FSMB) on Monday marks a crucial step toward its eventual enactment into law. The FSMB, an extensive piece of legislation comprising over 340 pages,…
Former SEC Chief delivers scathing criticism of Coinbase, claiming their security defense crosses the line into criminality. In a significant development, John Reed Stark, the former Chief of the SEC Office of Internet Enforcement, has criticized Coinbase Global Inc, the American publicly traded exchange, for its defense strategy in response to the charges brought against it by the Securities and Exchange Commission (SEC). Stark finds fault with Coinbase’s argument that the SEC’s approval of its Initial Public Offering (IPO) in 2021 signifies the regulator’s comprehensive understanding of the company’s operations. According to Stark, this line of reasoning is fundamentally flawed.…
Binance.US and SEC find common ground, preventing asset freeze and safeguarding customer funds in collaborative efforts. In an attempt to avoid a complete asset freeze on the cryptocurrency trading platform, Binance.US and the Securities and Exchange Commission have embarked on a mission to find common ground and reach a compromise. The SEC had initially sought an asset freeze for Binance.US, a prominent trading platform owned by Changpeng Zhao, the founder of Binance Holdings. The accusations against the platform include mishandling customer funds, misleading investors and regulators, and violating securities rules. Binance.US, vigorously contesting the commission’s lawsuit and asserting the safety…