CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, RIPPLE News
Bitcoin Fell Below $ 23k Why Buyers Still Feel Comfortable
BTC traded below $ 23,000 but is still well above the $ 22,000 support.
There was a break below the $ 23,500 and $ 23,250 support levels. There was also a break below the major bullish trendline with support around $ 23,350 on the hourly BTC / USD pair. The fall accelerated below $ 23,000 and the price dipped below the 100-hour simple moving average.
It traded at just $ 22,629 and is currently correcting upward. Initial resistance is near the $ 22,950 level. This is close to the 23.6% Fibonacci retracement level of the recent decline from a high of $ 24,081 to a low of $ 22,629.
AUM Grayscale Gains $ 3.4 Billion Weekly, $ 500 Million Daily
33% GBTC Premium Indicates High Demand for Bitcoin
On December 15, Grayscale announced on Twitter that the digital asset manager holds an estimated $ 13 billion in AUM. Just a week later, Grayscale announced an incredible $ 3.4 billion growth.
Data released by the digital asset management firm shows that its largest holding company is still in bitcoin, with the Grayscale Bitcoin Trust holding $ 14.1 billion in top cryptocurrency.
Ethereum becomes vulnerable, why $ 600 could prevent new growth
Ethereum faced an increase in sales and it plummeted to $ 550 against the US dollar.
ETH price plummeted below the support levels of $ 600, 595 and 580.
The decline was such that the price even dropped below the $ 565 support and settled well below the 100-hour simple moving average. It tested the $ 550 support level and recently began an upward correction.
Ripple XRP Down 40% As Crypto Exchanges Halt XRP Trading
Cryptocurrency XRP has dropped 40% on leading exchanges after the US Securities and Exchange Commission filed a lawsuit against Ripple.
XRP dropped to $ 0.270821 on CoinMarketCap and altcoin lost over $ 10 billion in market value as major trading platforms have withdrawn or stopped XRP transactions. Exchanges such as OSL in Hong Kong have already begun the delisting process, temporarily suspending XRP trading. Other smaller crypto exchanges, namely Beaxy and CrossTower, have also followed suit.
In turn, the Bitwise 10 Crypto Index Fund also liquidated its XRP holdings, which totaled about $ 9.3 million XRP and 3.8% of the fund.
SEC gives brokers and dealers the opportunity to work with crypto-securities
The SEC will allow crypto custodians to become regulated broker-dealers specifically for digital assets.
On December 23, the Commission announced that it would allow broker-dealers specializing in cryptocurrency to operate for five years without fear of enforcement action, provided they can prove they own and control securities of clients’ digital assets. The SEC is awaiting feedback on the proposal, which came after months of industry requests for clarification.
The Securities and Exchange Commission announcement was generally welcomed by industry participants as a step in the right direction.
US Financial Regulators Warn Crypto Firms To Tighten Stablecoin Money Laundering Risk Control
The US financial supervisor is warning cryptocurrency companies to tighten protection and control measures against money laundering.
In a recently released report, federal financial regulators said stablecoins should be used in such a way as to “effectively manage risk and maintain the stability of the US domestic and international financial and monetary systems.”
In addition to the need to curb illicit financial flows, the report says stablecoin providers need to maintain adequate cash reserves. The group of financial regulators said stablecoin operators should develop coins that are robust enough to handle large-scale redemptions.
Korean Crypto Investment Firm Launches $ 100 Million Fund for Blockchain Projects
South Korean Hashed has set up a new fund to fund new blockchain startups.
Hashed, one of the largest cryptoasset fund managers in South Korea, has raised 120 billion won to fund new blockchain projects in the so-called “protocol economy.”
The funds were raised through Hashed Ventures Inc., a new organization that will oversee the placement of the nine-figure investments. The company has yet to disclose its sponsors, although a spokesperson indicated that some of South Korea’s largest IT companies are involved.
Key partners of Ripple SBI Holdings and MoneyGram respond to SEC lawsuit from Ripple
SBI Holdings Supports Cryptocurrency Company
SBI Holdings released a statement in which it unequivocally supported the company and suggested that they continue to use its technology and XRP, despite the SEC’s claims that the token is safe. The banking giant also pointed out that 90% of its clients and 80% of remittance volumes are outside the US jurisdiction.