The Business & Technology Network
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The chief investment officer of crypto asset management firm Bitwise says that Bitcoin (BTC) will be hit with an unexpected crisis. In a new interview on the Insightful Investor YouTube channel, Bitwise CIO Matt Hougan says that the crypto king is now stable enough to be considered a store of value, much like gold. According to Hougan, assets that are stores of value tend to follow a pattern –...
A widely followed crypto analyst is updating his outlook on Ethereum (ETH) competitor Solana (SOL) as the market chops around. In a new video update, crypto strategist Benjamin Cowen tells his 808,000 YouTube subscribers that Solana could plummet in value if a similar 2019 market pattern plays out again. Looking at the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin (...
A cryptocurrency analyst and trader is saying that Bitcoin (BTC) is on the cusp of turning bullish. The analyst pseudonymously known as Rekt Capital tells his 84,700 YouTube subscribers that Bitcoin is in a re-accumulation phase and is “getting really close to entering the parabolic phase of the cycle.” According to the pseudonymous analyst, Bitcoin is weeks away from breaking out above the...
BitMEX co-founder Arthur Hayes thinks impending rate cuts in the US will drive up the price of Bitcoin (BTC). In a new blog post, Hayes said comments made by Federal Reserve Chair Jerome Powell last week indicate the Fed is “reaching for the rate cut sugar high before hunger arrives.” While speaking in Jackson Hole, Wyoming, Powell said the time has come for “policy to adjust,” noting that...
Large Bitcoin (BTC) traders may be suddenly rotating capital into altcoins in pursuit of greater returns, according to analytics firm Santiment. Santiment says on the social media platform X that Bitcoin is seeing a significant decline in open interest while top altcoins like Ethereum (ETH) and Solana (SOL) are not. Open interest is the total number of outstanding derivatives contracts for a...
The co-founder of decentralized finance (DeFi) platform Maker (MKR) says that the rebrand of its stablecoin will have a freeze function but that DAI will continue to operate normally. In a new thread on the social media platform X, MakerDAO creator Rune Christensen says that DAI itself will not feature a freeze function – or a mechanism that stops the movement of tokens – after rumors swirled...
The crypto exchange Abra has settled with the U.S. Securities and Exchange Commission (SEC) for a yet-to-be-determined amount over charges stemming from alleged unregistered investment offerings. The SEC specifically accused Abra’s parent company, Plutus Lending LLC, of failing to register its retail crypto asset lending product, Abra Earn. Abra settled the SEC’s charges without admitting or...
The president of Ava Labs, the team behind layer-1 blockchain Avalanche (AVAX), says that he’s optimistic about Ethereum (ETH)-based exchange-traded funds (ETFs). In a new interview with Bloomberg Television, Ava Labs president John Wu says that over time, Ethereum ETFs will find success due to the competitive nature of the decentralized finance (DeFi) sector. “I don’t think anyone anticipated [...
The U.S. Securities and Exchange Commission (SEC) charged two brothers with allegedly operating a $61.5 million Ponzi scheme that relied on promoting a fake crypto trading bot. The SEC accuses Jonathan Adam and his brother Tanner Adam of luring in more than 80 investors across the country by promising 13.5% monthly returns via a crypto asset lending pool. The regulator says the brothers claimed...
The U.S. Securities and Exchange Commission (SEC) has sent a Wells notice to non-fungible token (NFT) marketplace OpenSea, according to the firm’s CEO. Devin Finzer says in a new post on the social media platform X that the company has received a Wells notice from the SEC warning them of possible securities law violations. A Wells notice is a warning issued by the SEC that it’s planning to...