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Bitcoin-friendly Musk is no fan of the Fed’s inflation policy, he reveals, as Arthur Hayes says U.S. economic decisions are sending BTC price on a path to $1 million. The United States Federal Reserve has been “too heavy-handed ” in taming inflation, said pro- Bitcoin (BTC) Tesla and Twitter CEO Elon Musk. In a Twitter debate on March 29, Musk directly criticized U.S. macroeconomic policy, including “excess government spending.” Musk: Fed policy is a “serious issue” Bitcoin and crypto markets remain extremely sensitive to Fed cues on interest rate policy. Despite inflation gradually coming down, the Fed has continued to hike rates even as banks feel the pressure and several collapses. For Musk, this is already a case of going too far — with banking crisis contagion spreading to Europe, the U.S. dollar, he agrees, is quickly losing appeal. In a response to a thread on dollar supremacy by Genevieve Roch-Decter, CEO of financial insights firm Grit Capital, Musk did not mince his words. “...

CNBC’s Mad Money host, Jim Cramer said in a recent segment that the SEC “may not win” against Ripple and XRP. Ripple’s native token XRP has been rallying hard this week and dropped 6% after Cramer’s video was shared online. Cramer said that the SEC could lose the lawsuit against Ripple but might take the upper hand in the Binance case. Also Read: Are Existing Laws Enough To Regulate Crypto? SEC Chair Thinks So “The SEC says, look they are creating sec urities day after day. In this Ripple case, they may not even win the Ripple case. But the Binance (lawsuit) is very different,” Cramer is heard saying in the new CNBC segment. @Space10116 we lost the sec case @thebearablebull noooo!!! pic.twitter.com/8SISMzXost — its rede (@redeX775) March 29, 2023 In December last year, Cramer tweeted positively about Binance saying, “Do you feel as reassured by Binance as I do?” CZ jokingly replied to Cramer to keep Binance out of his predictions. “Oh Jim, please don’t use Bina...

It appears that the SEC has exempted NFT art tokenization from registration as security offerings. On March 29, nonfungible tokens startup Freeport announced that it had passed a Regulation A review by the U.S. Securities and Exchange Commission to launch its Blockchain platform for crowd-ownership of a four-piece collection of Andy Warhol prints. Each piece consists of 10,000 shares, with a minimum purchase of 10 per individual, allowing a maximum of 1,000 individuals to own a piece of the Warhol art.  The underlying pieces are prints of iconic blue-chip Warhol works, including Marilyn (1967) , Double Mickey (1981) , Mick Jagger (1975) , and Rebel Without a Cause (James Dean) (1985) . Current Andy Warhol paintings on the market can fetch anywhere between $6 to $195,040,000 apiece, according to MutualArt.  As told by Freeport, the SEC clearance allows retail investors to gain fractional ownership of the fine arts market, which is typically exclusive to high-net-worth individuals due...

The BNB (BNB) market’s bullish start in the last 24 hours was short-lived, as bulls could not break above the 24-hour high of $329.33. Due to the inability to break through resistance, the bears took control of the market and dipped prices to $306.45, where support was established. Because of the market’s continued bearish dominance, the BNB price was valued at $310.16, a 5.50% decrease as of press time. The recent drop in BNB’s value can be attributed to the explosive allegations made by the US regulator CFTC. Fearing a prolonged rally, traders retreated, causing the market capitalization to fall by 5.49% to $48,969,152,041 while the 24-hour trading volume increased by 95.93% to $714,320,749. This move suggests that investors are unsure about the market’s future direction and will likely take a wait-and-see approach before making significant investment decisions. BNB/USD 24-hour price chart (source: CoinMarketCap) On the BNB 4-hour price c...

Steve Hanke, professor of applied economics at Johns Hopkins University, has criticized bitcoin, stating it is not a currency. The economist, known for his vocal opinions about crypto and for the promotion of dollarization initiatives in Latam, blasted bitcoin, saying it has a “fundamental value of zero,” and that it is a “highly speculative asset.” Steve Hanke Criticizes Bitcoin’s Function and Value Steve Hanke, professor of applied economics at Johns Hopkins, has criticized bitcoin and its value in one of his latest tweets. The economist, known to be very vocal about the negative effect that crypto can have on world economies, contested bitcoin’s utility, stating: Bitcoin is not a currency. It’s just a highly speculative asset with a fundamental value of zero. Hanke illustrated his opinion with a cartoon drawn by Robert Rich, as part of his work for Hedgeye Risk Management, where he compares other main fiat currencies including the dolla...

In their newest YouTube video that was posted yesterday, the popular crypto podcast, Crypto Banter, shared the altcoins they will be keeping a close eye on to buy during this altcoin season. The three cryptocurrencies that Crypto Banter was the most excited about were Cardano (ADA), Avalanche (AVAX), and Polygon (MATIC). ADA / Tether US 1W (Source: TradingView) Crypto Banter specifically expressed their interest in ADA and mentioned the project’s strong community and their belief that the project will stay around for a long time to come as some of the reasons why they are so bullish on the Ethereum-killer. They expect that ADA could soon target $0.4945. This means that the Banter team expects a 150% increase in ADA’s next push-up. AVAX / Tether US 1D (Source: TradingView) Second, on Crypto Banter’s list was AVAX. The team explained that AVAX is at the perfect buying position at the moment close to its resistance around $17.14. If the price of the altcoin is able to br...

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price prediction shows that BTC is falling again in a narrow channel after consolidating, but buying interest could play out. Bitcoin Prediction Statistics Data: Bitcoin price now – $27,452 Bitcoin market cap – $527.3 billion Bitcoin circulating supply – 19.3 million Bitcoin total supply – 19.3 million Bitcoin Coinmarketcap ranking – #1 BTC/USD Long-term Trend: Bullish (Daily Chart) Key levels: Resistance Levels: $33,000, $35,000, $37,000 Support Levels: $22,000, $20,000, $18,000 During the European session today, BTC/USD started trading from the opening price of $27,708 and now dropping below the support level of $27,500 at the time of writing. However, the psychological barrier of $28,000 still serves as the first important resistance within the market and a sustainable move above the upper boundary of the channel may likely push the price toward the res...

Bitcoin refuses to give up recently reclaimed support as Deutsche Bank shows that the banking crisis is far from over. Bitcoin (BTC) diced with $28,000 at the March 24 Wall Street open as fresh banking woes failed to provide a further boost to crypto. BTC/USD 1-hour candle chart (Binance). Source: TradingView Traders stay optimistic on BTC long-term trend Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing momentum to hit daily lows of $28,001 on Binance. The pair was attempting to cement support after a classic comeback the day prior erased panic on the back of the latest United States economic policy moves. The Federal Reserve hiked baseline interest rates by 0.25% on March 23, this along with mixed comments from Chair Jerome Powell serving to unsettle risk assets amid a lack of clear trajectory. Related: Fed balance sheet adds $393B in two weeks — Will this send Bitcoin price to $40K? Bitcoin thus showed indecision on the day, with analysts equally split over...

Join Our Telegram channel to stay up to date on breaking news coverage Coinbase ends Algorand (ALGO)staking rewards to its users. However, the token will still be available for trade. What – Coinbase puts an end to Algorand staking rewards Why- The platform’s move is said to be in light of the recent regulatory scrutiny What Next- Coinbase will support customers who want to participate directly in governance, as all rewards from the Algorand governance period will end on March 31 and will be paid early next month. On March 22, the San Francisco-based crypto exchange, Coinbase, emailed its customers that it would no longer offer Algorand (ALGO) rewards as of March 29. The Coinbase spokesperson asserted in an email to CoinDesk that “all rewards from the Algorand governance period, which will come to an end as of March 31, will be paid in early April.” However, the spokesperson did not give details for suspending the Algorand rewards. Additionally, ...

The total value locked (TVL) in decentralized finance (defi) has risen above the $50 billion mark after falling below the range throughout most of March. At present, the value locked in defi is approximately $50.34 billion, up 1.97% over the past 24 hours. Defi Value Swells Close to 2% Higher to Over $50 Billion With crypto assets swelling in value and the crypto economy rising 1.2% to $1.24 trillion, the total value locked (TVL) in defi on Wednesday was $50.34 billion. The defi platform Lido Finance dominates the top defi protocols with $10.76 billion, up 10.60% in seven days and up 24.61% over the past month. Makerdao’s TVL is the only defi protocol out of the top five that has seen a TVL reduction of 1.29%. Aave, Curve, and Uniswap have seen increases with Curve jumping ahead by 13.62%. Defi TVL according to defillama.com stats on March 22, 2023. Most of the rise in defi has stemmed from the smart contract platform market capitalization rising 3.6% over the last day to $35...

The Central Bank of Venezuela is lagging when it comes to delivering economic data this year, failing to publish the inflation numbers for the last four months. Venezuelan economists believe this delay might mean that the country is starting to enter a new hyper inflation period, with the government trying to hide it by not offering up the figures. Central Bank of Venezuela Owes Public Four Months of Economic Data The Central Bank of Venezuela has not published the economic data corresponding to the last four months, making economists worried about the cause of the delay. The institution still has not issued the inflation figures corresponding to November 2022, December 2022, January 2023, or February 2023, leaving consulting firms blindfolded and unable to make recommendations to their affiliated companies when it comes to economic strategy. But according to Jesus Casique, a Venezuelan economist, inflation figures are just the tip of the iceberg regarding the missing data. Casiq...

Bitcoin consolidated recent gains on March 21, as markets await the upcoming Federal Open Market Committee (FOMC) meeting. Many expect that the Federal Reserve will maintain rate hikes, however at a slower pace of 25 basis points. This comes after the U.S. announced it will explore measures to guarantee client deposits at embattled banks following a recent crisis. Bitcoin Bitcoin (BTC) was once again trading below $28,000, as traders consolidated recent gains ahead of the upcoming FOMC meeting. Following a high of $28,352.76 to start the week, BTC/USD fell to an intraday low of $27,439.65 earlier today. The move sees bitcoin move away from its recent nine-month high, ahead of tomorrow’s rate decision, which will likely lead to increased market volatility. BTC/USD – Daily Chart One sign of this uncertainty comes as the 14-day relative strength index (RSI), which failed to move beyond a ceiling of its own. As of writing, the index is tracking at 71.47, which is margin...

On Sunday evening, March 19, 2023, at 5:00 p.m. Eastern Time, the U.S. Federal Reserve, along with several central banks including the Bank of England, Bank of Canada, Bank of Japan, the European Central Bank, and the Swiss National Bank, announced a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. The announcement followed a banking crisis that began with the collapse of three U.S. banks and spread internationally. Turmoil in Banking Industry Leads to Coordinated Action to Enhance Liquidity Before Wall Street opened on Monday and ahead of the next Federal Reserve meeting, the U.S. central bank, along with five other major central banks, announced decisive action to add liquidity to the financial system. The participating banks included the Bank of England, Bank of Canada, Bank of Japan, Swiss National Bank, and the European Central Bank (ECB). In fact, all participating central banks published similar Press Relea...

Recent reports indicate that UBS has presented a proposal to Credit Suisse, offering a potential acquisition of the bank. This acquisition is for a sum of up to $1 billion. Individuals with firsthand knowledge of the situation have disclosed that Swiss regulators are exploring options to dodge a shareholder vote. They want to do this to expedite the completion of the transaction prior to the upcoming Monday deadline. tRON g>Also read: Switzerland Considers Nationalizing Credit Suisse tRON g> As a counteroffer to UBS, Tron founder Justin Sun has laid out a proposal to acquire Credit Suisse for $1.5 billion. .@UBS's bid for @CreditSuisse falls short. I would like to propose my own offer of $1.5 billion to acquire Credit Suisse and integrate it into the Web3.0 world. Switzerland has been one of the most crypto-friendly countries in the world. — H.E. Justin Sun 孙宇晨 (@justinsuntron) March 19, 2023 Justin Sun’s proposal is $500 million more than that of UBS ...

Bitcoin's performance has outpaced Warren Buffett's Berkshire Hathaway over the past six months as crypto markets appear to have turned a corner. The total crypto market capitalization increased by 26% in seven days, reaching $1.16 trillion on March 17. Bitcoin (BTC) was the biggest winner among the top 20 coins, up 31.5%, though some altcoins gained 50% or more during that period. Total crypto market cap in USD, 12-hour. Source: TradingView The surge in cryptocurrency prices occurred as the United States Federal Reserve was forced to lend banks $300 billion in emergency funds. According to PBS News Hour, nearly half of the money went to failed financial institutions Silicon Valley Bank and Signature Bank and was used to pay uninsured depositors. The remaining $153 billion was obtained through a long-standing program known as the "discount window," which allows banks to borrow funds for up to 90 days. While appearing to protect the banking sector, additional funding ...