2 days ago • coindesk
Bitcoin Is Still in Its ‘Safe Haven Period’: Analyst
Bitcoin (BTC) rose over $28,000 on Thursday, rallying over 15% in the past two weeks. Mark Connors, 3IQ head of research, is attributing the most popular cryptocurrency‘s rise to the uncertainty in the banking sector.
2 days ago • cryptodaily
SBF Charged with Paying a $40 Million Chinese Bribe
U.S. prosecutors have added another charge to Sam Bankman-Fried’s growing list of indictments – paying a $40 million bribe to Chinese officials to unfreeze his hedge fund’s accounts.
United States prosecutors have accused Sam Bankman-Fried of paying Chinese officials a $40 million bribe to unfreeze FTX’s accounts. The bribery conspiracy charge adds to a 13-count indictment against the former CEO of the now-collapsed crypto exchange FTX.
Reuters reports Bankman-Fried is expected to be arraigned on the charge on Thursday before U.S. District Judge Lewis Kaplan in a Manhattan federal court. In a separate report, Reuters indicates that the former CEO intends to plead not guilty to the charge, citing a person familiar with the matter.
The new indictment against SBF alleges that he ordered a $40 million crypto payment to a private wallet from FTX’s sister firm, Alameda Research’s main trading account, to persuade Chinese authorities to unfreeze Alameda’s accounts containing over $1 billion of cryptocurrency. The indictment reads:
In or about November 2021, Samuel Bankman-Fried, a/k/a ‘SBF,’ the defendant, and others directed and caused the transfer of at least approximately $40 million in cryptocurrency intended for the benefit of one or more Chinese officials in order to influence and induce them to unfreeze the Accounts.
Reuters explains Alameda accounts were frozen as part of an investigation into an Alameda counterparty. The news agency adds that SBF’s prior attempts to influence Chinese government officials to unfreeze the accounts were unsuccessful.
Judge Kaplan Approves Changes to SBF’s Bail Restrictions
Judge Kaplan on Tuesday also approved amendments to SBF’s bail restrictions. CoinDesk reports the former CEO is no longer allowed to communicate with former FTX or Alameda Research employees except when counsel is present. Bankman-Fried is also no longer allowed to use any “encrypted or ephemeral call or messaging application, including but not limited to Signal.”
SBF’s electronic use is limited to a new laptop computer or phone that only provides him access to 40 pre-approved websites necessary for his defence or personal use “and do not pose a risk of danger to the community.” He has been ordered to hand over his old laptop and smartphone to his legal counsel, who will remove them from his premises.
Any visitor meetings must also be pre-arranged with Bankman-Fried’s defence attorneys, who must ensure security personnel are present to screen for unauthorized devices.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2 days ago • cryptodaily
U.S. and South Korea Seek Extradition of Do Kwon
The U.S. and South Korea are seeking the extradition of international crypto fugitive Do Kwon. Kwon, along with another suspect, was arrested last week in Montenegro.
The Montenegrin Justice minister Marko Kovac said on Wednesday that the United States and South Korea had requested the extradition of Do Kwon. Kwon is a South Korean national who stands accused on charges of multibillion-dollar fraud related to the collapse of the Terra ecosystem in May 2022.
The Terra co-founder was arrested in the Podgorica region of Montenegro last week. Minister Kovac said during a news conference that South Korea and the U.S. have officially requested Kwon and another suspect’s extradition.
Kovac added the two suspects were charged in Montenegro with forging documents after they attempted to board a flight to Dubai. Montenegrin authorities charged Kwon and the second suspect – identified as Hon Chang Joon, with forging official documents. Reuters reports Kwon and Joon were found in possession of doctored Costa Rican passports, a second set of Belgian passports, laptops, and other devices.
The Multiple Charges Against Do Kwon
South Korean authorities charged Kwon in September for violating its Capital Markets Acts and issued a warrant for his arrest. Following investigations by numerous law enforcement agencies and having charges filed against him, the International Criminal Police Organisation, or Interpol, issued a red notice for Kwon.
U.S. federal prosecutors indicted Kwon with two counts each of securities fraud, wire fraud, commodities fraud, and conspiracy hours after his arrest.
Who Will Get Custody of Kwon?
It is unclear who will get custody of Kwon, given that he faces criminal charges in several jurisdictions. Kovac explained that extradition proceedings would only commence after local courts have dealt with the charges against Kwon and Joon for their use of falsified documents. If Kwon and Joon are sentenced for the charges in Montenegro, they would have to serve this out before being extradited.
Since more than one country has requested extradition for Kwon, Kovac said the decision ultimately lies with the courts. He explained:
In the case when we receive several extradition requests, determining to which state they will be extradited is based on several factors like the severity of the committed criminal offense, the location and the time when the criminal offense has been committed, the order in which we have received the request for extradition and several other factors.
A local court in Podgorica placed Kwon and Joon in a 30-day pre-trial detention.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days ago • cryptodaily
Binance BUSD Suffers $500M Outflow, Crypto Daily TV 29/3/2023
In Todays Headline TV CryptoDaily News:
EU Lawmakers vote in favor of payment limits on anonymous crypto wallets.
Lawmakers on two key committees in the European Parliament have voted in favor of imposing limits on payments by unverified crypto users, as part of a large scale overhaul of money laundering laws. The plans, considered alongside measures to forbid businesses from accepting large cash payments and create a new European Union Anti-Money Laundering Agency.
CFTC could force Binance to cease U.S. operations.
The U.S. Commodity Futures Trading Commission could require Binance to cease operations in the U.S. as part of a potential settlement. The regulator sued the crypto exchange and its founder Changpeng Zhao for allowing U.S. citizens to trade derivatives and for willful evasion of the country’s laws.
Binance's BUSD stablecoin suffers $500M outflow.
Binance USD, a stablecoin pegged to the U.S. dollar, endured over $500 million in outflows in the roughly 24 hours since a U.S. lawsuit was filed against Binance and CEO Changpeng Zhao, data shows.
BTC/USD gained 0.5% in the last session.
The Bitcoin gained 0.5% against the Dollar in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 25747.6667 and resistance at 28717.6667.
The Ultimate Oscillator is currently in the positive zone.
ETH/USD skyrocketed 3.4% in the last session.
The Ethereum-Dollar pair skyrocketed 3.4% in the last session. The MACD is giving a negative signal, going against our overall technical analysis. Support is at 1640.0567 and resistance at 1817.3367.
The MACD is currently in the negative zone.
XRP/USD exploded 9.9% in the last session.
The Ripple-Dollar pair rose 9.9% in the last session after gaining as much as 10.8% during the session. The MACD is giving a positive signal, which matches our overall technical analysis. Support is at 0.4237 and resistance at 0.5164.
The MACD is currently in the positive zone.
LTC dropped 0.8% against USD in the last session.
The Litecoin fell 0.8% against the Dollar in the last trading session. The ROC is giving a negative signal. Support is at 84.3267 and resistance at 96.1667.
The ROC is giving a negative signal.
Daily Economic Calendar:
US MBA Mortgage Applications
The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. The US MBA Mortgage Applications will be released at 11:00 GMT, the US EIA Crude Oil Stocks Change at 14:30 GMT, Germany's Gfk Consumer Confidence Survey at 06:00 GMT.
US EIA Crude Oil Stocks Change
The EIA Crude Oil stockpiles report is a weekly measure of the change in the number of barrels in stock of crude oil and its derivates, released by the Energy Information Administration.
DE Gfk Consumer Confidence Survey
The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity, making it an indicator of consumer spending.
FR Consumer Confidence
The Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. The French Consumer Confidence will be released at 06:45 GMT, Japan's Foreign Bond Investment at 23:50 GMT, Japan's Foreign Investment in Japan Stocks at 23:50 GMT.
JP Foreign Bond Investment
The Foreign Bond Investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
JP Foreign Investment in Japanese Stocks
Securities investment referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days ago • cointelegraph
ARB price to $2? Ethereum L2 rival Arbitrum will double in April, fractal suggests
ARB's price trajectory looks similar to MATIC after its market debut when MATIC rose 1,350% after facing a brutal selloff in its early days of trading.
5 days ago • cryptodaily
BTC Up 40% Since SVB Debacle, Crypto Daily TV 27/3/2023
In Todays Headline TV CryptoDaily News:
G7 to collaborate on tighter crypto regulation.
The next G7 meeting might bring a push from the seven biggest democracies for tougher regulations on cryptocurrencies around the world. Among G7 members, Japan already regulates cryptocurrencies, while the European Union’s Markets in Crypto-Assets regulation is set to go into effect in 2024.
Euler Finance hacker sends 51,000 stolen Ether back to protocol.
The hacker behind Euler Finance’s $200 million exploit earlier this month returned a majority of the stolen funds to the protocol. Euler's native EUL tokens were up 25%, with the majority of the move coming after the hacker returned tokens to the protocol – which may have fueled positive sentiment among traders.
Bitcoin surged 40% since SVB's collapse.
Bitcoin is having a "watershed moment" thanks to the ongoing banking crisis. The cryptocurrency has surged nearly 40% since early March when SVB's collapse unleashed mayhem in the banking system.
BTC/USD skyrocketed 1.0% in the last session.
The Bitcoin-Dollar pair skyrocketed 1.0% in the last session. The MACD is giving a positive signal, which matches our overall technical analysis. Support is at 268721 and resistance at 280841.
The MACD is currently in the positive zone.
ETH/USD gained 0.9% in the last session.
The Ethereum-Dollar pair gained 0.9% in the last session. According to the Stochastic-RSI, we are in an oversold market. Support is at 1692.271 and resistance at 1786.651.
The Stochastic-RSI points to an oversold market.
XRP/USD rose 0.3% in the last session.
The Ripple rose 0.3% against the Dollar in the last trading session. The Stochastic indicator's positive signal is in line with the overall technical analysis. Support is at 0.4013 and resistance at 0.4855.
The Stochastic indicator is giving a positive signal.
LTC/USD skyrocketed 1.3% in the last session.
The Litecoin-Dollar pair skyrocketed 1.3% in the last session. The MACD's positive signal is in line with the overall technical analysis. Support is at 87.91 and resistance at 95.781.
The MACD is currently in the positive zone.
Daily Economic Calendar:
US Dallas Fed Manufacturing Business Index
The Dallas Fed conducts the Texas Manufacturing Outlook Survey monthly to obtain a timely assessment of the state's factory activity. The US Dallas Fed Manufacturing Business Index will be released at 14:30 GMT, the US 3-Month Bill Auction at 15:30 GMT, and Germany's IFO – Business Climate at 08:00 GMT.
US 3-Month Bill Auction
Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity.
DE IFO – Business Climate
The IFO Business Climate index is regarded as an early indicator of current conditions and business expectations. The Institute surveys enterprises on their assessment of the economic situation.
DE IFO – Current Assessment
The IFO Current Assessment regarded as an indicator of current conditions and business expectations in Germany. The Institute surveys enterprises on their assessment of the current business situation and their short-term planning. Germany's IFO – Current Assessment will be released at 08:00 GMT, Japan's Coincident Index at 05:00 GMT, Japan's Leading Economic Index at 05:00 GMT.
JP Coincident Index
The Coincident Index released by the Cabinet Office is a single summary statistic that tracks the current state of the Japanese economy.
JP Leading Economic Index
The Leading Economic Index is an economic indicator that consists of 12 indices such as account inventory ratios, machinery orders, stock prices and other leading economic indicators.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.