Bitcoin (BTC) price is trying to recover over the weekend but the current bounce lacks conviction. This suggests that dip buyers are nervous to load up before the release of January’s consumer price index data on Feb. 14 as that could boost short-term volatility. Although the near term is uncertain, analysts at Delphi Digital expect the United States Federal Reserve to pivot to an accommodative policy later in the year and that could be favorable for risk assets. Another bullish projection came from Pantera Capital CEO Dan Morehead who said that Bitcoin’s “seventh bull cycle” may have begun. Morehead highlighted …

Crypto bank Silvergate Capital Corp. stands in the second position as most-shorted stock in the United States, with over 72.5% of its shares shorted, according to the latest Short Interest Reporting from Feb. 9. The Financial Industry Regulatory Authority (FINRA) collects and publishes twice a month short interest positions of all equity securities. A short position means investors and traders believe the price of a security, such as a stock, will decrease in value. A short seller profits from the price decline of a security. At the time of writing, Silvergate stock (SI) is down over 87% in the past …

The first production update of 2023 from publicly listed Bitcoin (BTC) mining companies shows a steady increase in hash rate and a surge in BTC production compared to the previous month, according to a new analysis from Hashrate Index. The majority of public miners increased their bitcoin production in January, with CleanSpark boosting it by 50%, reaching a record monthly production of 697 Bitcoins. Leading the BTC production, Core Scientific reached 1,527 coins mined in January, followed by Riot, the second-biggest producer, mining 740 Bitcoins in the month. Marathon and Cipher have seen significant increases in Bitcoin production, reaching 687 …

What is monetary policy? Monetary policy refers to the actions taken by a central bank or monetary authority to manage the supply of money and interest rates in an economy, with the aim of promoting economic growth and stability. To affect the price and accessibility of credit, this may entail altering the money supply, setting interest rates or utilizing other instruments. The ultimate goal of monetary policy is to achieve and maintain a healthy economy. This usually involves balancing multiple objectives, such as: To ensure economic stability, lessen the effects of economic shocks and promote sustainable economic growth, central banks …

Decentralized finance (DeFi) was established to transform financial services so that anyone, no matter where they live or their status, can enjoy the benefits of financial sovereignty. However, before it can achieve its mission, it must first tackle the complexity, that deters millions of potential newcomers from using DeFi protocols. One critical problem is the poor user experience and complicated interfaces that plague onboarding and make services inaccessible to a mainstream audience. Onboarding and usability are key areas that hinder mass adoption. Even without the KYC (Know-Your-Customer) requirements, DeFi’s multi-step onboarding process puts services out of reach of most people. …

For the first time since the 7th century, the paper-money economy found its true competition in the internet era. With Bitcoin’s (BTC) debut in 2010, the fiat ecosystem was not only challenged with proving its worth in day-to-day transactions but also safekeeping the investment ecosystem it helped build. Over the years, the crypto ecosystem attracted people from all walks of life — serving their unique financial needs while filling the gaps left wide open by the fiat ecosystem. While most of the world watched from the sidelines, trying to decipher the true potential of cryptocurrencies, the first batch of Bitcoin …

Bitcoin (BTC) edged closer to $22,000 over the weekend as traders and analysts urged caution on overly bearish sentiment. Analyst dismisses "hysterical" crypto sentiment Data from Cointelegraph Markets Pro and TradingView showed BTC/USD seeing small spurts higher into Feb. 12. After hitting three-week lows the week prior, Bitcoin was a target for opportunistic whales, on-chain analytics resource Material Indicators explained. Uploading a chart from the BTC/USD order book on Binance, Material Indicators captured resistance shifting higher, with the potential uptick in spot price offering a more advantageous selling level for large-volume players. “FireCharts shows Crypto Weekend whales seem interested in …

The Consumer Federation of California (CFC), a nonprofit advocacy organization working for consumer rights, sponsored a bill that seeks to license and regulate the activities of cryptocurrency exchanges. The legislation demanding regulatory oversight of crypto businesses — the Digital Financial Assets Law — was introduced by Assemblymember Timothy Grayson with the aim of protecting Californians from financial hardship and fostering responsible innovation. Grayson believes that licensure is the next natural step for the crypto industry, adding: “And it is equally clear that until we take that step, Californians will continue to be vulnerable to prevalent and preventable financial scams.” This …

Not even 24 hours after the Canadian University Dubai (CUD) announced its partnership with Binance Pay to accept course fees in cryptocurrencies, a technical roadblock watered down the excitement behind the short-lived initiative. CUD, a private university in Dubai, was seemingly interested in allowing students — both domestic and international — to pay their tuition and course fees in cryptocurrencies. This initiative would have allowed students from varied backgrounds easy access to the Canadian curriculum in Dubai. Dear CUD Community, For technical reasons, CUD will not be accepting cryptocurrency as a method of payment, until further notice. We apologize for …

Brazilian bank Banco do Brasil is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies. According to a statement published by Banco do Brasil on Feb. 11 it is now “possible” for Brazilian taxpayers to pay their tax bill with crypto, in a joint initiative with Brazilian-based crypto firm Bitfy. This initiative is available to Brazilian’s who have their crypto under the custody of Bitfy, who will act as a “collection partner” for the major Brazilian bank. It noted that besides the convenience it brings to customers, it makes it possible to “expand” the use …

El Salvador has been advised to exercise caution in expanding government exposure to Bitcoin (BTC) due to the “speculative nature” of crypto markets by the global monetary watchdog. A Feb. 10 statement from the International Monetary Fund (IMF) emphasized that Bitcoin’s risks in El Salvador have “not materialized” yet due to its “limited” use so far, after IMF staff visited the country last week. It was suggested that El Salvador address these risks as Bitcoin’s use “could grow” given it has been recognised as legal tender in the country since Sept. 2021. El Salvador was warned to re-evaluate its plan …

Top Stories This Week Kraken reaches $30M settlement with SEC over staking as IRS seeks user information Kraken has agreed to stop offering staking services or programs to United States clients after reaching an agreement with the U.S. Securities and Exchange Commission (SEC). Along with ceasing operations, the crypto exchange will pay $30 million in disgorgement, prejudgment interest and civil penalties. The SEC claims that Kraken failed to register the program as a securities offering. The move has sparked controversy within the SEC. Commissioner Hester Peirce has publicly rebuked her own agency over the shutdown, arguing that regulation by enforcement …