Data shows pro Bitcoin traders want to feel bullish, but the rally to $23K wasn’t enough

[ad_1] Bitcoin (BTC) price had a mixed reaction on Jan. 25 after the United States reported a 2.9% gross domestic product growth in the fourth quarter, slightly better than expected. Still, the sum of all goods and services commercialized between October and December grew less than 3.2% from the previous quarter.Albeit somewhat optimistic, another data set limiting investors' confidence was news that the U.S. Federal Reserve (FED) would revert its

SEC once again rejects ARK 21Shares Bitcoin ETF listing

[ad_1] The SEC has once again rejected a proposal to list the ARK 21 Shares Bitcoin ETF on equities exchange Cboe BZX, according to Jan. 26 statement from the SEC. The SEC rejected a similar proposal in April, 2022.The SEC has just now once again rejected ARK's and 21Shares spot bitcoin, $BTC ETF listing.— unusual_whales (@unusual_whales) January 26, 2023 The proposed ETF would have been managed jointly by Cathie Wood’s

Moody’s to build scoring system for stablecoins: Report

[ad_1] Credit rating firm Moody's is allegedly developing a scoring system for stablecoins, with analysis for up to 20 digital assets, Bloomberg reported on Jan. 26, citing unnamed sources. The system, which appears to be in the early stages of development, will evaluate and rate the quality of the attestations of stablecoin reserves, although it will not be considered an official credit rating. Generally speaking, third parties attest that a company’s claims

ISDA releases standard definitions for digital asset derivatives

[ad_1] The International Swaps and Derivatives Association (ISDA) is working on two papers to address fundamental legal risks in the crypto markets, such as the insolvency of crypto exchange firms, according to a statement released on Jan. 26. The initiative was motivated by the collapse of crypto exchange FTX and previous bankruptcy cases that “prompted a cascade of liquidity and solvency concerns across the crypto ecosystem.” Along with other things, the

Here’s why Bitcoin price could correct after the US government resolves the debt limit impasse

[ad_1] For much of 2022, the crypto market focused on the U.S. Federal Reserve's actions. The central bank created a bearish environment for risk-on assets like stocks and cryptocurrencies by increasing the interest rates on borrowing. Toward the end of 2022, positive economic data, healthy employment numbers and a decreasing inflation rate provided hope that a much-awaited slowdown in the rate of interest rate hikes would occur. Currently, the market expects the

Sens. Warren, Wyden question quality of auditors’ oversight in light of FTX debacle

[ad_1] Two United States senators have taken their questions about the performance of the accounting firms active in the crypto space to a higher power – the Public Company Accounting Oversight Board (PCAOB). Failure to uncover alleged criminality and poor recordkeeping at FTX has sullied the image of the PCAOB and the accounting profession, the senators said.In a letter addressed to PCAOB chair Erica Williams and dated Jan. 25, Democratic

Polkadot restates its case that DOT has ‘morphed’ away from security status

[ad_1] The Web3 Foundation, which supports the Polkadot protocol, has again presented its argument that its native DOT (DOT) token is not a security. In a Twitter thread, the foundation emphasized its efforts to comply with U.S. securities laws, as well as Securities and Exchange Commission guidance on digital assets, and declared that DOT had successfully “morphed” and is software, not a security. The Web3 Foundation reposted an excerpt from a

88x Finance partners with Axelar Network for cross-chain yield aggregator

[ad_1] The crypto bear market may be lasting longer than expected, but some Web3 startups see it as the perfect opportunity to build solutions and infrastructure that will welcome users and institutions when the next wave of adoption arrives.Cross-chain yield aggregator 88x Finance claims that the emergence of general message passing and true composability between blockchains is an opportunity to provide services both to retail and professional investors. Roughly six

Binance stablecoin BUSD sees a sharp market cap drop amid solvency and mismanagement worries

[ad_1] Stablecoins in the cryptocurrency market help provide USD pegged tokens within the volatile industry. In bull markets, the market capitalization of stablecoins tends to decrease as investors flock to more volatile assets and in bear markets, investors seek shelter in low volatility stablecoins thus increasing their market caps.On Jan. 26, the total market capitalization for stablecoins like Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and Dai (DAI) is

Porsche NFT trading volume nears $5M despite launch woes, minting halt

[ad_1] German luxury car manufacturer Porsche's nonfungible token (NFT) collection reached 2,839 Ether (ETH) ($4.5 million) in total sales volume, according to data from NFTScan at the time of writing on Jan. 26. The collection had a floor price of 2.74 ETH and a high price of 9.18 ETH, with over 1,705 total sales. Originally meant to have a total supply of 7,500 NFTs, Porsche abruptly halted the minting process on Jan. 25