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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said in a congressional hearing that the securities regulator “requires new tools, expertise, and resources” to combat misconduct in the crypto space. “We’ve seen the Wild West of the crypto markets, rife with noncompliance, where investors have put hard-earned assets at risk in a highly speculative asset class,” he stressed. SEC Chair Gary Gensler on Budget Request and Crypto Regulation The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified on his agency’s Fiscal Year (FY) 2024 budget request before the House Appropriations Subcommittee on Financial Service and General Government Wednesday. “I am pleased to support the President’s FY 2024 request of $2.436 billion for the SEC, to put us on a better track for the future,” Gensler began. “The FY 2024 request seeks funding for an additional 170 positions, as well as full-year funding for those staf...

The cryptocurrency market has registered significant gains since the beginning of 2023. Metaverse coins have joined the trend, with many displaying recognizable volatility, providing for increased trading and an influx of capital. An aggregation by CoinmarketCap ranks the metaverse tokens by market capitalization, summarizing the value of the projects and reflecting the momentum that could support future growth. Based on their market caps, the top five metaverse tokens on CoinmarketCap include ApeCoin APE, Internet Computer ICP, Stacks STX, Decentraland MANA, and Theta Network THETA. ApeCoin (APE) ApeCoin is an ERC-20 token based on the Ethereum blockchain. It is a utility token used to empower and reward members of the APE community participating in building Web3 products within the APE Ecosystem. According to CoinmarketCap, ApeCoin has a market capitalization of $1.51 billion, making it the most capitalized metaverse token at the time of writing. It ranked in the 40th...

In what is a landmark development, China and France have completed an LNG gas trade using the Chinese yuan, thus ending the reliance on the US dollar for energy trades. Moreover, Reuters reported that the transaction involving 65,000 tonnes of LNG from the UAE marked the first yuan-settled LNF trade through the Shanghai Petroleum and Natural Gas Exchange. Chinese National oil company, CNOOC, and France ’s TotalEnergies completed the transaction on Tuesday, according to reports. Additionally, Energy World reported TotalEnergies confirmed the transaction “involved LNG imported from the UAE but did not comment further.” JUST IN: China and France complete first LNG gas trade using Chinese Yuan, ending reliance on the US dollar for energy trades. — Watcher.Guru (@WatcherGuru) March 29, 2023 China Completes Yuan-Settled Energy Trade All eyes have been on the state of the US dollar, with reports coming regarding the massive implications of potential de-dollarization. Subs...

Apart from Bitcoin (BTC) and Ethereum (ETH), there are other digital currencies worth considering for people looking to diversify their portfolios and gain experience with new cryptocurrencies. Mask Network (MASK) is one of them. With Mask Network, members of major social networking sites may securely send cryptocurrency, engage with distributed applications, and exchange encrypted material. The protocol enables users to do things like send encrypted tweets and even cryptocurrency. If you are interested in the future of MASK and want to know its predicted value for 2023, 2024, 2025, and 2030 – keep reading! Table of contents Mask Network (MASK) Market Overview What is Mask Network (MASK)? Analysts’ View on Mask Network (MASK) Mask Network (MASK) Current Market Status Mask Network (MASK) Price Analysis 2023 Mask Network (MASK) Price Analysis – Keltner Channel Mask Network (MASK) Price Analysis – Relative Strength Index Mask Network (MASK) Price Analysis –...

Bitcoin moved below $27,000 during Tuesday’s session, as the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance. The suit claims that Binance knowingly offered unregistered crypto products to U.S. customers. Ethereum was also lower on the news, briefly falling below $1,700. Bitcoin Bitcoin (BTC) fell below $27,000 in today’s session, as markets reacted to the news that the CFTC had filed a lawsuit against Binance. BTC/USD fell to an intraday low of $26,606.69 on the news, which comes a day after trading at a peak of $27,979.07. As a result of today’s sell-off, the world’s largest cryptocurrency fell to its lowest level since March 17. BTC/USD – Daily Chart Looking at the chart, this drop comes after a recent floor at the $27,100 mark was broken, which coincided with the relative strength index (RSI) also experiencing a breakout. As of writing, the index is now tracking at the 58.51 level, which is marginally below i...

Recent reports claimed that the crypto firms in Hong Kong are under pressure after the debacle of the two major financial institutions, namely Silvergate Bank and Signature Bank. As per the words of the people familiar with the matter, the local banks in Hong Kong refuse to serve the crypto firms, leaving them unable to open local accounts. Significantly, Joy Lam, a partner at the law company Baker McKenzie asserted that even the licensed crypto firms in Hong Kong are under challenges, claiming: The abrupt shuttering in the last week of the perceived ‘crypto friendly’ banks in the US has affected a wide swathe of our clients who are engaged in virtual asset related activities, both SFC licensed and unlicensed. Notably, Adrian Wang, the CEO, and founder of the global crypto-based wealth management company Metalpha commented that though the city owns advanced crypto regulations, with the aspiration to become a crypto hub, after the fall of the financial domains, the ban...

Microstrategy has purchased 6,455 bitcoins for approximately $150 million at an average price of $23,238 per coin. With its latest purchase, Microstrategy now holds 138,955 bitcoins acquired at an average of $29,817 per coin. Moreover, the company also paid off its loan from troubled Silvergate Bank in full. Microstrategy Buys More Bitcoin Nasdaq-listed Microstrategy Inc. (Nasdaq: MSTR) announced Monday that it has acquired 6,455 more bitcoins. CEO Michael Saylor tweeted: Microstrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, MSTR acquired an additional ~6,455 bitcoins for ~$150M at an average of ~$23,238 per bitcoin & held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin. In a filing with the U.S. Securities and Exchange Commission (SEC) on Monday, the company detailed that the 6,455 bitcoins were acquired between Feb. 16 and March 23. Repayment of Silvergate Loan The filing further explains that the Nasdaq-listed software com...

The economy is a system of producing and exchanging goods and services in a society. The economy is a complex system of production, distribution, and consumption of goods and services. Understanding how the economy works can be challenging, but it is essential for making informed decisions about personal finance, investing and public policy. This article will explore the fundamental concepts of how the economy works, including the factors that influence it and the various components that make up the economy. Factors that influence the economy The economy is a dynamic system that is constantly changing and evolving. It is a vast network of people, organizations and governments; each involved in creating, moving, and using commodities and services. The economy is influenced by a wide range of factors, including macroeconomic factors like government policies, interest rates and international trade, as well as microeconomic factors such as individual decisions about spending and saving. G...

All the pieces are in place for BTC to rally to $30,000, but escalating economic uncertainty and regulatory pressure add strength to the key resistance level. On March 23, Bitcoin (BTC) price recovered the $28,000 support after a brief correction below $27,000. The movement closely tracked the traditional financial sector, particularly the tech-heavy Nasdaq Index, which gained 2.1% as Bitcoin surpassed the $28,000 threshold. On March 22, the Federal Reserve raised its benchmark interest rate by 0.25%, but hinted that it is nearing its maximum level for 2023. In the end, however, Fed Chair Jerome Powell stated that it is too soon to determine the extent of the tighter credit conditions, so monetary policy will remain flexible. Initially, it appears encouraging that the central bank is less inclined to increase the cost of money. However, the global economies are exhibiting signs of stress. For instance, consumer confidence in the euro-area decreased by 19.2% in March, reversing five co...

EUR/USD raced to a six-week high on Thursday, as markets continued to react to the U.S. Federal Reserve’s 25-basis-point rate hike. The greenback was lower across the board, falling versus several G7 currencies, including the British pound. EUR/USD On Thursday, the world’s most traded currency pair rose for a sixth straight session, as markets continued to digest yesterday’s rate hike. The Federal Reserve opted to increase rates by 0.25%, despite recent uncertainty in the banking sector. Following the announcement, Fed Chair Jerome Powell stated that “FOMC participants don’t see rate cuts this year, it is not our baseline expectations.” EUR/USD – Daily Chart Overall, it appears that lowering inflation remains the priority for the Fed, with the U.S. Treasury exploring ways to guarantee client deposits should any further banks face liquidity issues. EUR/USD rose to an intraday high of $1.0929 in today’s session, which is its highest rate since ...

Join Our Telegram channel to stay up to date on breaking news coverage This might be your last chance to get a CCHG token as the green initiative C+Charge is nearing the conclusion of its final phase of presale. C+Charge, an innovative cryptocurrency with a focus on environmental sustainability, has already raised $3.2 million with less than a week left in its token presale. With more individuals concerned with environmental issues and the EV market growing quickly, C+Charge’s green crypto platform is a fantastic opportunity for profit in this growing industry. The complete C+Charge presale update is in the video above. For more reviews of cryptocurrency presales, subscribe to his YouTube channel.  Sustainable Crypto Partnerships Supporting a Greener Future By offering EV owners a dependable, effective, and environmentally friendly charging solution, C+Charge is poised to have a big impact on the industry given the EV market share’s expected exponential grow...

The sold amount accounts for 9% of all Coinbase shares bought by ARK Invest so far this year, and about 23% of COIN acquired in March. Cathie Wood’s investment management firm ARK Invest is moving to take profits from its Coinbase stash, selling the first batch of Coinbase stock this year. On March 21, ARK sold 160,887 Coinbase shares from its ARK Fintech Innovation exchange-traded fund (ARKF) for $13.5 million, according to an investor notification seen by Cointelegraph. The transaction became ARK’s first sale of Coinbase stock in 2023, following three months of active buying in 2023. The sold amount accounts for 23% of all Coinbase stock acquired by ARK so far in March and about 9% of all Coinbase shares bought by the firm so far this year. Following the sale, ARK holds nearly 1.6 million Coinbase shares that were bought in 2023. The shares are worth more than $132 million at the time of writing. The latest sale comes amid Coinbase stock, which trades as COIN, seeing a significant...

Join Our Telegram channel to stay up to date on breaking news coverage MetaMask has expanded its partnership with MoonPay, the web3 payment platform, enabling Nigerian users to purchase cryptocurrencies through instant bank transfers. According to a statement by ConsenSys, a MetaMask parent firm, on March 21, it revealed that the new integration would enable users to purchase their crypto within the MetaMask mobile and Portfolio Dapp. MetaMask and MoonPay partner to let Nigerians buy crypto via bank transfer https://t.co/JRz6YeQ5iO — The Block (@TheBlock__) March 21, 2023 Before the partnership, the MetaMask users had access to the MetaMask wallet. However, the process of purchasing crypto was costly and time-consuming. Nonetheless, the announcement stipulated that about 90% of credit or debit card attempts to buy crypto in Nigeria were declined. However, with the new, more localized payment methods, including instant bank transfers, crypto purchases on MetaMask are n...

Ripple ’s Chief Technology Officer, David Schwartz, has recently dropped his two cents on the collapse of Silicon Valley Bank . With multiple banks collapsing one by one, it has become difficult for almost anyone not to notice it over the headlines. Schwartz has recently taken to Twitter to comment on some of his thoughts on the Silicon Valley Bank . Also read: New York Community Bank Agrees to Buy Signature Bank- Keeps $4 Billion Crypto Out of the Deal Nothing about SVB's KYC policies or who they extended credit to seems to have anything whatsoever to do with how they became insolvent. And anyone who keeps uninsured funds on deposit with an insolvent bank is not a bright person. — David "JoelKatz" Schwartz (@JoelKatz) March 20, 2023 Ripple CTO highlights the anonymity of SVB’s insolvency reason “ Nothing about SVB’s KYC policies or who they extended credit to seems to have anything whatsoever to do with how they became insolvent,” Schwartz said....