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U.S. Sen. Cynthia Lummis argued that the Department of Justice's position on self-custody of virtual currencies is inconsistent with existing Treasury Department guidance and violates the rule of law. Lummis (R-Wyo.) said he opposes the Biden administration's criminalization efforts related to the Bitcoin (BTC) network and decentralized finance (defi). I am deeply concerned about the Biden administration's criminalization of core tenants of the Bitcoin network and decentralized finance.My full statement. ⬇️ pic.twitter.com/M3CHcNTi3x— Sen. Cynthia Lummis (@SenLummis) May 1, 2024 The Justice Department's stance has prompted legal action against crypto entities, including charges of unauthorized transfers against Bitcoin mixer Samurai Wallet…
faber tokenNEW YORK, NY, May 1, 2024 (Globe Newswire) — Giants like Bitcoin (BTC) and Solana (SOL) dominate the scene with established presence and fluctuating performance, creating excitement and explosive growth potential in the ever-evolving world of cryptocurrencies. New competitors are emerging with promise. Introducing Furrever Token (FURR), a token that brings fresh appeal and innovation to the cryptocurrency market. While we take a closer look at the recent performance of BTC and SOL, we also explore the unique characteristics and promising trajectory of FURR, offering investors the opportunity to venture into new realms of possibility and potentially surprising returns.…
Share this article Bitcoin price briefly rose to $59,300 after falling below $56,700 earlier today, according to data from CoinGecko. The recovery came after the US Federal Reserve (Fed) decided to keep interest rates in the range of 525-550 basis points (bp).In a statement announcing the rate hike, Chairman Powell said the decision to keep interest rates unchanged was due to rising inflation. As he noted, the Fed plans to continue reducing bond sales, but the remaining bonds continue to be sold at the same pace.“Today, the FOMC decided to keep interest rates unchanged and continue to reduce its securities…
Frankfurt and Paris stocks fell, but the euro rose against the dollar, with figures showing the euro zone economy emerged from recession with subdued inflation in the first quarter. The euro then gave up its rise and began to fall.Meanwhile, the London market soared to a new high of 8,199.95 points, and HSBC soared more than 4% on a raft of share buybacks, despite a drop in first-quarter profits and the resignation of its chief executive. However, the FTSE 100 index was unable to maintain its gains and closed lower.Gross domestic product (GDP) in the euro zone, which fell into…
A closely watched cryptocurrency strategist is warning that Bitcoin (BTC) may have already hit a bull market high. Analyst Ali Martinez told his 60,700 followers on social media platform Analysts believe realized gains soared to new highs when Bitcoin hit a new all-time high of over $73,000, levels seen during the bull market highs of 2018, 2021 and 2022. We emphasize that we have exceeded the “Last month, realized gains jumped to $3.52 billion when BTC hit $73,880. This could signal that the BTC market could be on top!” sauce: Ali Martinez/X Martinez says other signals are needed to confirm…
photograph: dado lvitch (Reuters)Early cryptocurrency investor Roger Ver, aka “Bitcoin Jesus,” be prosecuted for tax evasionThe Justice Department said he evaded nearly $50 million in taxes. Why is it necessary to call cryptocurrencies securities? | Gizmodo InterviewAn indictment filed in federal court in Los Angeles charges Ver, 45, with mail fraud and tax evasion. The Justice Department said the indictment was unsealed after he was arrested in Spain over the weekend and U.S. authorities are seeking his extradition.Barr's early investments in cryptocurrencies and achievements earned him the nickname “Bitcoin Jesus.” tendency to preach about it. Born in California, Barr renounced…
Bitcoin, Ethereum, and Solana experienced a significant rally following the latest Federal Reserve announcement from Chairman Jerome Powell. Bitcoin, Ethereum, and Solana have seen significant price increases, consistent with Chairman Powell's insights at the Federal Open Market Committee meeting. Cryptocurrency market soars after Jerome Powell's remarks Despite persistent inflation concerns, the Fed chose a wait-and-see approach, maintaining its current benchmark interest rate. Powell emphasized that there remain challenges in bringing inflation down to the Fed's 2% goal and said the Fed's next action is unlikely to be a rate hike. Instead, the focus remains on prudent financial strategy, reflecting the…
In analyzing the current state of the virtual currency market, expert Alex Kruger emphasized the following: Ethereum(ETH)'s overwhelming performance. Despite high expectations, Ethereum has not lived up to market expectations, except for stakeholders and airdrop farmers who continue to profit. Krueger noted that while Ethereum remains the second-largest blockchain, its overall market influence appears to have declined compared to last year.role of Bitcoin ETFhas become a key driver of the cryptocurrency market. Krueger believes the recent surge in crypto capital is largely due to these ETFs. This contrast to Ethereum's performance highlights the growing disparity in the crypto asset class.…
The Federal Reserve opted to keep its key interest rate unchanged on Wednesday, as the central bank's focus on combating inflation exacerbates the pain in the crypto market. In his usual cautious tone, Federal Reserve Chairman Jerome Powell told reporters that the fight to raise inflation to 2% would be difficult, but said, “I don't think the next move in policy interest rates will be a rate hike.'' “It is unlikely that this will happen,” he added. “I'd say it's unlikely,” he said, but added: “It's likely to take longer before we can be confident we're on a sustainable path…
Over $340 million of long positions were liquidated in the past 24 hours.Cryptocurrency markets continued to fall on Wednesday morning, hours before the US Federal Reserve announced its interest rate decision.Bitcoin (BTC) is hovering around $57,000, its lowest since late February, after falling 6% in the past 24 hours.Ether (ETH) traded as low as $2,820, while Dogecoin (DOGE) fell 8%. Solana (SOL) and Avalanche (AVAX) both suffered losses of about 7%.ETH priceCoinGlass reported that over $421 million in crypto futures positions were liquidated in the past 24 hours, of which over $349 million were long. Longing an asset means betting…