If you had any doubts as to whether establishment was concerned about the current financial institutions losing ground against crypto, the proposed house bill addresses them all.
The draft made its appearance over the weekend, two days ahead of Facebook’s hearing at the Senate Banking Committee. Politicians working on a weekend, straight up beeline to get this in amidst a backdrop of negative comments from Fed Chairman Jerome Powell, rep. Maxine Waters and other administrators… Has Facebook really become that unpopular?
Or maybe it was CFTC chairman Christopher Giancarlo a.k.a. crypto dad hanging up his jersey welcoming Heath Tabert as the new sheriff in town. His stance on crypto has been pretty ambiguous, pundits clearly expect less of an advocate…
Whatever it was, sentimental took a gargantuan hit as the Fear & Greed Index posts the biggest pullback on record — back to Feb 2019 levels.
Double-top formation after a second failed campaign through $13K, $32mn Bitpoint hack throwing a spanner in the works, yet BTC dominance continues to grind higher. 65.8%- a 2yr high. Completely eclipsing the Blockchain Promotion Act.
Binance Coin ($BNB) -10.4% has bounced back from weakness as CZ (you legend) has convinced his team to well, take one for the team and burn their $BNB that was supposed to vest today.
That is a big ask but in short, 40% of the quarterly burn of 808,888 $BNB will come out of the teams’ bounty. Not just for this burn but their entire 80mn $BNB allocation c.$2bn. The platform has already received 10K applications for margin trading on the first day and has taken down $15mn in loans just five days post-launch.
Huobi Token ($HT) +0.9% taking that page out of their book as Huobi CEO Li Lin guides 1/3 of all HT burns going forward will be done from the team’s allocation.
- Vitalik Buterin mulls $BCH -16.7% as a scalability solution for Ethereum ($ETH) -17.6%
- SK Telecom, LG Plus, KT, KEB Hana Bank, Woori Bank, Samsung Electronics & Koscom agree to collaborate in providing blockchain-based mobile electronic identification solution.
- Iran guides the imminent launch of gold-backed cryptocurrency
- Jon Montrol operator of Bitfunder.co, & WeExchange gets 14month jail term for faking a 6,000 BTC hack.
- Prasos becomes the third crypto company to acquire Payment Institution License (PIL) but the Finnish Financial Supervisory Authority
May the trend be your friend… Happy trading!
