"Every day you have a choice to be honest or deceptive. If you commit to telling the truth, you will win. You'll win more trust, you'll win more business, and you'll win more peace of mind. You'll break the system and be even more successful."
–Dale Patridge
Powered by LifeLine - The Power of Prevention
Follow Dat Money | Crypto Projections
READ
Happy Monday Folks! Well for the US readers, instead of Fly Eagles Fly, it should be "Cry Eagles Cry." Congrats to the Kansas City Chiefs for winning the Superbowl! Seems every year things get bloody in the market right around Valentine's day and this year doesn't seem to be any different. Let's jump into the news...
Trending News Topics:
- Paxos terminates partnership with Binance
- Pay taxes with Crypto in Brazil
- Crash coming says Robert Kiyosaki
A couple of big cryptocurrency stories to look out for this week (TB):
- U.S. inflation data: CPI (Tuesday)
- Regulatory clampdown?
CRYPTO
Correlation between Crypto market and Nasdaq turns positive ahead of US CPI release. Bank Of Brazil Now Allows Citizens To Pay Taxes With Crypto.(5) CME Group records increased demand for Crypto products despite bear market. Understanding crypto bag holders and their mindset. Global crypto market cap plunges below $1 trillion as regulatory concerns wipeout 2023 gains. Crypto is still arguing about how much it should focus on privacy.
BITCOIN
Bitcoin price eyes $22K rebound with BTC market structure ‘not yet broken.’ Bitcoin’s key technical indicator turns green; More gains ahead? Possibly since Bitcoin price forms unique pattern that signifies a market bottom. Bitcoin death cross forms in the weekly chart, more losses expected? Bitcoin flirts with bid liquidity as $BTC price nears new 3-week lows, but Bitcoin Coinbase premium surges. Bitcoin, Ether drop as investors fret over inflation data, Stablecoin regulation. Drake won $1.2M worth of Bitcoin on Super Bowl bet.
VISA to launch Bitcoin and crypto cards in the UK and 40 APAC countries.(2) Led by Bitcoin, blockchain industry starts 2023 off strong.
Bitcoin empty block found. Public miners increased Bitcoin production, hash rate in January. IMF Says El Salvador should avoid trading Bitcoin bonds.(3) Bitcoin miner Iris Energy will nearly triple hashrate after buying 4.4 EH/s in machines.(2) As bitcoin miners prep for earnings season, all eyes are on treasuries and deployments.
OG Bitcoin Developer Adam Back claims $BTC market cap could reach $200 Trillion in 9 years.(2) "Rich Dad Poor Dad" author Robert Kiyosaki alerts Bitcoin crash on Valentine's Day.(4)
STABLECOINS
$BUSD depegs from rival Stablecoin Tether after US Regulator tells Paxos to stop minting new tokens;(4) Paxos terminates partnership with Binance, stops minting $BUSD.(5) Binance to support $BUSD while exploring non-USD stablecoins, CZ says.(2) BNB token slides under $300, Binance USD inflows signal bearish signs.(4) SEC lawsuit against Paxos over $BUSD baffles crypto community.(2) $BUSD redemptions continue till at least February 2024. Binance CEO CZ says declaring $BUSD a security will ‘profoundly impact’ crypto progress. Regulator NYDFS says Paxos didn't administer Binance USD in 'safe and sound' manner: Reuters. Aave community mulls freezing Binance Stablecoin amid SEC pressure. Here’s why the Stablecoin and Binance FUD might be overblown.Then, we get this: Circle sounded Alarm on Paxos, told NYDFS Binance’s Stablecoin wasn’t fully backed.(5) Binance USD's $16B market cap up for grabs as Paxos regulatory action stirs up Stablecoin rivalry. Paxos ‘categorically disagrees’ with SEC that $BUSD is a security, says it will litigate if needed. Binance withdrawals surge as Paxos-BUSD drama weighs on the exchange.
Cardano Djed Stablecoin records impressive growth numbers.(2)
ALTCOINS
Ethereum falls below important support level, drops below critical $1,500 threshold. Patience running thin for $XRP as lack of Ripple news leads to price losing important support. Cardano price cools after 68% increase, but is second phase incoming? Machine learning algorithm sets Cardano price for February 28, 2023: $0.43. Whale deposits $5.2M In $MATIC to Binance; bearish signal and fifth-largest holder of Polygon tokens is little-known Chinese Crypto project.(3) Morgan Creek Capital Management CEO Mark Yusko on Dogecoin ($DOGE) and Shiba Inu ($SHIB.)
EXCHANGES
Digital asset platform Bakkt to discontinue consumer app after two years.(3) DBS Bank to offer cryptocurrency trading in Hong Kong.(2) Bitstamp gets operational license from French regulators.
REGULATION
Coinbase will 'happily defend' staking in U.S. courts, says CEO Brian Armstrong.(4) Coinbase CEO Brian Armstrong visits Washington, D.C. in push for regulatory clarity, less sugar.(2) Kraken CEO Jesse Powell and Coinbase Executive Paul Grewal Slam SEC’s ‘Misinformed’ Staking Ban. Ripple CEO Brad Garlinghouse Says US Desperately Missing Crypto Regulatory Leadership Amid SEC Clampdown. Consumer Federation of California reattempts to regulate crypto companies. Bernstein says regulatory backlash will lead to more DeFi and offshore Crypto. Restrictive Crypto rules for EU banks confirmed in published legal draft. France to tighten Crypto registration rules next January. Proposed EU parliament rule could have banks apply 1,250% risk weight to crypto exposure.(3) Policymakers need to focus on tokenization, not just tokens. ARK Invest’s Cathie Wood says SEC Crypto crackdown great for decentralization but not so good for US. Ripple’s general counsel claims Gensler could be a “political liability” given that a sizeable portion of voters views crypto favorably. Algorand Foundation CEO: SEC’s Crypto crackdown highlights lack of regulatory clarity. G20 nations looking at creating global Crypto asset regulation.
How the SEC could reshape Ethereum’s staking landscape for the better. CFTC case against Sam Bankman-Fried postponed until after criminal trial. Crypto's banking problem: Industry needs access but US regulators keep digital assets at bay.
ATTACKS/HACKS/SCAMS
Solana’s wormhole exploiter moves another $61M in $ETH. Hackers target domain registrar Namecheap for crypto phishing campaign. Popular hardware Crypto wallet OneKey hacked by security firm, proving critical vulnerability. Unciphered reveals now-patched vulnerability in OneKey wallet.
Well that is a wrap folks, if you'd like to be in the know throughout the day, join me on Wubits where I am constantly sharing my thoughts about the Crypto market and personal development type topics. It's a community where you can meet REAL people, make REAL connections, and have REAL conversations. Thanks again for reading, watching, and listening with me.
WATCH
LISTEN
Podcast of the Day: Tuur Demeester: The Bitcoin Reformation | The Bitcoin Matrix
Other Podcast
- Cosmic Bitcoin - Bitcoin Is Love w/ Nozomi Hayase | Bitcoin Magazine
- Are Ordinals Sneakily a Boon to Bitcoin Security? | The Breakdown
- The Future of Bitcoin Mining & Security with Sam Wouters | What Bitcoin Did
- SLP458 AI and the Economy with Peter St Onge | Stephan Livera Podcast
- Punk6529: future of the metaverse and commerce will likely be a centralized dystopia | The Scoop
- 158 - You're Not Bullish Enough on NFTs with Punk6529 | Bankless
- #204: Josh Kriger, Co-Founder of Edge of NFT, on the Next Intersection of Tech and Entertainment | Cryptonews
- Dexalot - A Decentralized Central Limit Order Book Exchange | Crypto Conversation
- Who Are The Winklevoss Twins Behind Gemini? | Bloomberg Crypto
