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House Financial Services Committee Chairman Patrick McHenry accused SEC Chairman Gary Gensler of misleading Congress regarding Ethereum's classification during testimony in April 2023.The accusations come as tensions over regulatory approaches to digital assets have escalated in recent months, with some industry players filing lawsuits against watchdogs for overstepping their mandate.”Arbitrary and capricious”in statement In a document released on April 30, McHenry cited recent court documents suggesting that Gensler intentionally avoided questions from the commission regarding whether the SEC considers ETH to be a security. emphasized.This allegation raises concerns about the SEC's transparency and consistency, especially since it contradicts previous statements…
The Department of Justice announced Tuesday that Roger Ver, a prominent figure from Bitcoin's early days, has been indicted on charges of mail fraud and filing false tax returns. In a press release announcing the charges, the agency said “Bitcoin Jesus” evaded nearly $50 million in taxes. This is a reference to the nickname Barr received around 2010 due to his habit of gifting Bitcoin to people he met. Barr, a California native, renounced his U.S. citizenship shortly after obtaining a passport from St. Kitts and Nevis in 2014. At the time, he claimed the decision was a protest against…
The crypto market has seen its market capitalization drop by nearly $200 billion in the past 24 hours, as some of the biggest players in the industry appear to want to dump their cryptocurrencies. Digital asset management firm Grayscale has transferred approximately $2.5 billion worth of Bitcoin (BTC) to Coinbase for possible sale on the public market, according to cryptocurrency de-anonymization platform Arcam. . According to Arkham data, Grayscale is sending BTC to Coinbase Prime or Coinbase-related addresses, primarily in batches of $42.84 million. Source: Arkham According to Arkham, Grayscale also has a significant amount of altcoins including Ethereum (ETH),…
The cryptocurrency market has shed nearly $200 billion in market capitalization in the past 24 hours, as some of the industry's biggest companies appear to be trying to unload their coins. Digital asset management firm Grayscale has transferred approximately $2.5 billion worth of Bitcoin (BTC) to Coinbase for possible sale on the public market, according to cryptocurrency de-anonymization platform Arcam. . According to Arkham data, Grayscale is sending BTC to Coinbase Prime or Coinbase-related addresses, primarily in batches of $42.84 million. Source: Arkham According to Arkham, Grayscale also has a significant amount of altcoins including Ethereum (ETH), Avalanche (AVAX), Polygon…
Hong Kong today welcomes the launch of the long-awaited Ethereum ETF. This historic event sparked various activities in the cryptocurrency industry. Amid mounting speculation, Zhu Haokang, head of digital asset management at China AMC, spoke about how an Ethereum ETF could outperform a Bitcoin ETF in Hong Kong. This development will ultimately create a new wave of change for spaces to be encountered and explored. Also read: Ethereum end-of-April price prediction: Could ETH reach $4,000? Ethereum ETF becomes reality Source: Watcher.Guru Hong Kong has welcomed the new wave of ETH ETFs as a new area for the region to explore.…
Crypto analyst Ali Martinez provided insight into why $59,800 is an important price level for Bitcoin’s future trajectory. Analysts have identified two things that could happen if the leading cryptocurrency falls this far. Why $59,800 is an important level for BitcoinIn a post on X (formerly Twitter), Martinez stated that the realized price for short-term Bitcoin holders (STH) is $59,800. He added that BTC has historically often rebounded from this level during uptrends, meaning a drop to that price level could mean the flagship cryptocurrency could experience a massive pump. .However, Martinez also warned of what could happen if Bitcoin…
The euro zone economy recovered from a mild recession in the first quarter as Germany returned to growth and expansion accelerated elsewhere, but inflation remained strong and the European Central Bank cut interest rates. The grounds for demanding this have become stronger. The GDP data for the fourth quarter was also revised downward to -0.1% from the previous 0.0%, meaning the euro area has entered a technical recession in the second half of 2023. GDP contracted by 0.1% in the third quarter. This figure reflects the general expectation that the recovery in the euro area will be slow. The IMF…
The six Bitcoin and Ether ETFs that debuted on the Hong Kong market on Tuesday had a trading volume of just $11 million.The crypto market continues to bleed despite the debut of the Spot Bitcoin and Ethereum ETF in Hong Kong on Tuesday.Bitcoin (BTC), the world's largest cryptocurrency, is trading below $61,000, while Ethereum (ETH) is down 7%, trading around $3,000. The global cryptocurrency market capitalization, as measured by CoinGecko, fell by 4% to $2.35 trillion.ETH priceMore than $300 million in leveraged positions were liquidated on Tuesday morning, according to CoinGlass data.Six ETFs that began trading in Hong Kong on…
On the first day of trading on Tuesday, six newly launched Spot Bitcoin and Ethernet exchange-traded funds in Hong Kong posted a trading volume of more than HK$87.5 million ($11.2 million). Six spot Ethereum and Bitcoin ETFs debuted in Hong Kong on Tuesday. The China Asset Management (ChinaAMC) Spot Bitcoin ETF had assets under management (AUM) of $121.7 million, and the Spot Ether ETF had $20.4 million. The tremendous response the Bitcoin Spot ETF received in the U.S. in January, with trading volume of $4.6 billion on its first day of approval, was nothing compared to the launch of crypto-related…
Cryptocurrency trading volume has plummeted to its lowest level in January. Bitcoin and Ethereum prices have fallen slightly, impacting market activity. The cryptocurrency market has shown significant stagnation, with trading volumes dropping to levels not seen since the beginning of the year. This economic downturn has been accompanied by a significant drop in the prices of major cryptocurrencies, including Bitcoin. [BTC] and Ethereum [ETH] They have decreased by 4.6% and 0.3%, respectively, over the past week. As of the latest data, Bitcoin is trading around $62,858 while Ethereum is trading around $3,141. On April 30th, market intelligence platform Santiment announced…