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Bitcoin bears continue to have an upper hand with the US SEC delaying the decision on seven spot Bitcoin ETF applications from BlackRock, Fidelity, Invesco, and others. The BTC price failed to break past the 200-day moving average of $27,500, which serves as an important resistance on the upside. advertisement On the downside, the Bitcoin price seems to be ready to retest the support of $25,000 in the near term. During the Bitcoin price pump earlier this week, after the Grayscale victory, crypto analyst Ali Martinez had already cited the chances of BTC price manipulation. The recent price correction validates his theory. Technical analysis alone can't reveal the intricacies of market manipulation! That's why a comprehensive approach, blending both on-chain and technical analysis, offers the deepest insights. https://t.co/1b8QmmmYvd pic.twitter.com/X0wJsQmmkR — Ali (@ali_charts) August 31, 2023 Recommended Articles

Bitboy Crypto explores Binance’s history, including the launch of BNB Beacon Chain. The YouTuber claims the multiple token standards confuse new BNB traders. Binance recently launched BNB Greenfield to create a decentralized storage infrastructure. The BitBoy Crypto YouTube channel shared a new deep dive into Binance’s native token, BNB. BNB launched in 2017 and was initially named after Binance Coin. However, it was renamed Build and’ Build in 2022 to emphasize its decentralized ecosystem, unlike the centralized exchange, Binance. Featuring a total supply of 200 million, BNB raised 15 million at the time of the ICO, while being valued at $0.15. At the peak of the bull market in 2021, the token hit its all-time-high of more than $686. Last week, BNB fell over 14% due to accusations against Binance of helping Russians “move money.” Binance money processor Advcash looks like a Russian laundering operation New investigation from @the_postman_ https://t.co/

Worldcoin could make it easier to create digital identities for people worldwide. And even if it fails, more projects like it are coming. All eyes have been on Worldcoin (WLD) since the July 24 launch of its “World ID” system. The issues associated with the launch have been well reported at this juncture. They include possible onboarding security risks along with Worldcoin’s use of biometric data, which is now under investigation by governments in several countries — including the United Kingdom, France and Argentina. In the tech industry, where many of the most significant innovations of the past few decades have occurred, there is often a tension between the drive to innovate and the need to consider ethical implications. As technologies like machine learning, facial recognition and big data analytics become more advanced, the ethical stakes also rise. In some cases, criticism from external analysts, journalists or ethicists can actually lead to positive outcomes by encouraging comp

Join Our Telegram channel to stay up to date on breaking news coverage The legal saga involving Sam Bankman-Fried and his collapsed cryptocurrency exchange, FTX, has taken a new twist, with the Department of Justice (DOJ) arguing his defence strategy is ”irrelevant” and should be struck down The DOJ argued in an Aug. 29 filing that his defence that his lawyers approved his alleged fraudulent activities during his tenure at FTX lacks sufficient detail to be considered valid. Sam Bankman-Fried’s Defence Also Is ”Confusing,” DoJ Says Attorney Damian Williams argues that Bankman-Fried’s defence is “irrelevant, confusing, and prejudicial” unless further details and context are provided. The government suggests that Bankman-Fried should specify the legal advice he received or reconsider his defence entirely. In response, Bankman-Fried’s attorney, Mark Cohen, contends that adequate disclosures about the defence strategy have been made while waiting for the government’s full eviden

Traders say the record-low number of BTC held on exchanges is a bull signal, but data suggests otherwise. Crypto analysts on X (the social media platform formerly known as Twitter) and in YouTube interviews have been abuzz with talk about the trend of Bitcoin leaving centralized exchanges. On Aug. 29, the quantity of Bitcoin (BTC) held within exchanges saw a decline, reaching its lowest point since January 2018. While various factors might underlie this movement, experts analyzing blockchain data often interpret the shift as a positive indicator. Traders are now questioning what might have been causing Bitcoin’s inability to break above $31,000 since this price action doesn’t align with their view that fewer coins on exchanges is bullish for the BTC price. The perspective on the decline of Bitcoin held at centralized exchanges stems from the notion that when traders withdraw their coins, it signals a bullish sentiment. This is typically associated with a strategy of holding assets in

Rhode Island granted X a virtual currency transmitter license, enabling the sending and receiving of fiat and crypto. The license is a crucial endorsement for entities handling monetary transfers, showing X’s broad financial goals. The approval could be the first step to Musk’s vision of an Everything app. Rhode Island’s financial regulatory authorities have granted X (formerly Twitter) a virtual currency transmitter license, enabling the company to engage in the sending and receiving of both traditional fiat and digital currencies. This license signifies X’s extensive financial aspirations. Final Take: Details are still emerging about what X’s payment Features will look like, but its foundation seems to be expanding steadily. pic.twitter.com/7CnOz5w9Cs — Keyur Rohit (@CryptoKingKeyur) August 30, 2023 The virtual currency transmitter license is an essential requirement for entities involved in the transfer of monetary value. In simpler terms, it acts

Binance expands its Latin American footprint with Send Cash in nine countries , aiming to facilitate remittances and cross-border payments. Binance has extended its footprint in Latin America by introducing Send Cash— a new service offering low-cost crypto transfers in the region. This announcement comes as positive news for the Latin crypto community, as Binance stopped its crypto debit card services in the region last week. This development amplifies the use of Binance Pay, the company’s payment gateway, allowing individuals across the region to send funds to local bank accounts. Initially, the feature will only be available for recipients with bank accounts in Colombia and Argentina, but it will soon be rolled out to seven other countries . Send cash. Instant. Low fees. https://t.co/sqBnIAqABQ — CZ Binance (@cz_binance) August 29, 2023 The feature will be available to users in Colombia, Honduras, Guatemala, Argentina, Costa Rica, Paraguay, Dominican Republic, Panama, and Mex

Also Read: US SEC Commissioners Not Happy Over Impact Theory NFT Charges advertisement The lawsuit verdict effectively granted the approval of application to convert the Grayscale Bitcoin Trust into a spot Bitcoin ETF. However, it is not clear yet as to what would be a timeline for the spot Bitcoin ETF approval, considering that the US SEC may choose to appeal the judgment. Bitcoin Exchange Supply Spike Before The Verdict On-chain data showed that around 30,000 BTC was sent to crypto exchanges prior to the Grayscale lawsuit victory announcement earlier on Tuesday, August 29, 2023, taking the total available supply to 1.16 million $BTC. This raises the question of whether the big whales have placed the trades in anticipation of a positive ruling or they knew of the Grayscale win before the judgment. According to market intelligence platform Santiment, the exchange supply of Bitcoin was boosted significantly prior to the judgment. Meanwhile, the Graysc

John Deaton accuses the SEC of neglecting its primary mission in digital asset oversight. Deaton questioned ex SEC Director’s testimony under oath, suggesting potential dishonesty. Deaton calls for regulatory reforms to prevent conflicts of interest and maintain transparency. In a recent tweet, a well-known pro-crypto lawyer, John Deaton, criticized the U.S. Securities and Exchange Commission (SEC). He argued that the agency has lost its focus on its mission and appears to disregard the law. According to Deaton, the former Director of Corporation Finance at the SEC, Bill Hinman, testified under oath that the agency does not need to satisfy all aspects of the Howey test to establish an offer or sale as an investment contract.  The @SECGov, like many federal agencies, has lost complete sight of its mission and purpose. It literally ignores the law. Digital assets and the Ripple XRP case are the perfect examples. Bill Hinman testified UNDER OATH that the SE

The world’s largest crypto exchange is reportedly reevaluating its business in Russia. One of the options on the table is a full withdrawal from the Russian market. Potential for a full exit According to the Wall Street Journal, a spokesperson from Binance shared that all options are on the table, which includes the possibility of the platform to make a full exit from the Russian market. Although Binance has acknowledged their previous failures in compliance, they have also claimed that they changed their ways and are serious about follow ing the rules. Binance has since moved to limit its Russia trading service, telling platform users that they can’t exchange digital tokens for currency other than rubles.  You might also like: Binance suspends P2P transactions with sanctioned Russian banks At present, Binance isn’t the only exchange operating in the country; other cryptocurrency trading platforms include OKX, ByBit, Gate.io, and KuCoin, among others. The sanction viol

1. Guizhou Provincial Development and Reform Commission issued on June 20 "Provincial Development and Reform Commission on virtual currency "mining" electricity price difference policy notice (Qian Development and Reform Price [2022] No. 462)": virtual currency "mining" project into the scope of the implementation of the price difference policy, the implementation of the "elimination" enterprise tariff, such projects increase the price standard to 2 yuan per kilowatt hour. 2. Bitfarms adjusted its HODL strategy to improve liquidity and strengthen its balance sheet. Over the past week, Bitfarms has sold a total of 3,000 BTC for approximately US$62 million and closed on its previously announced US$37 million in new equipment financing with NYDIG. As of June 20, 2022, Bitfarms held cash of US$42 million and 3,349 BTC valued at approximately US$67 million at a BTC price of US$20,000. Read more 3. Iris Energy's June 21 filing with the SEC shows a

1. The government of Iran has started issuing licenses to crypto miners under the new “comprehensive and detailed” regulatory framework approved last week. The authorities previously issued licenses to a number of crypto mining operations but halted the process due to power consumption and illegal mining issues. Reza Fatemi Amin, Iran’s minister of Industry, Mine, and Trade, said a pair of licenses are needed before an entity can start mining cryptocurrencies in Iran: an establishment license and an operating license. The former establishes the entity as a legal crypto miner while the latter allows it to actually start crypto mining.（News Bitcoin） Read more 2. Poolin mining pool : As you may have known, Poolin Wallet is currently facing some liquidity problems due to recent increasing demands on withdrawals. But please be assured, all user assets are safe and the company's net worth is positive. Though Poolin mining pool services are not much affected, to serve the goal of stabi

Tether’s chief technology officer, Paolo Ardoino dropped a hint that the operations are based in Latin America, but hesitated to reveal any more details beyond that. Paolo Ardoino, chief technology officer of stablecoin issuer Tether (USDT), recently found himself addressing rumors about images of large industrial containers online. These speculations led him to rejecting questions about where Tether is mining Bitcoin (BTC).  In a post on X (formerly known as Twitter) published on Aug. 26, Ardoino shed light on the curiosity sparked by the photo he shared on Aug. 24. The image displayed a container with a photoshopped Tether Energy logo, leaving many people pondering over what it's all about.  One of #Tether energy production and #Bitcoin mining sites coming along well. pic.twitter.com/6Z8o6A5OaE — Paolo Ardoino (@paoloardoino) August 24, 2023 He clarified that the photo shows a control room at a Bitcoin mining site that Tether is currently completing and will soon begin o