20 Feb: FTX Kills Another Hedge Fund


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Happy Monday Folks! Today is a federal holiday (President's Day) and while the stock market is closed, Bitcoin is open and trying to make another push above $25K which remains the key resistance level right at the 200 Weekly Moving Average (WMA.) Solana is the best performing assets in the past 7 days; up 28.73%.

Trending News Topics:

  • Hong Kong to Life Ban on Crypto Trading
  • Galois Hedge Fund Shuts Down
  • Helium Moves to Solana; Price Soars

A ‘snap back’ to $20K? 5 things to know in Bitcoin this week (Cointelegraph):

  • RSI “bearish divergence” causes alarm
  • All eyes on FOMC minutes and U.S. dollar
  • Analyst: moving average “cloud” is there to be broken
  • Hash rate, difficulty in line for fresh record highs
  • Most “greed” since Bitcoin all-time highs

CRYPTO

‘A Crypto-asset is nothing more than a speculative asset, like a baseball card,’ says Fed board member Dr. Christopher J. Waller. World Wide Web inventor Tim Berners-Lee shares some surprisingly negative views on crypto. However, Crypto’s next bull run will come from the East: Gemini co-founder Cameron Winklevoss. Weekly Crypto Investment Product Outflows Hit $32M: CoinShares.(4)

BITCOIN & ETHEREUM

Bitcoin continues to ‘mirror’ 2017 as weekend sees third attack on $25K. Bitcoin price creates bullish weekly engulfing candle, $25,000 target to break. Upcoming week can ignite a new Bitcoin rally, as Bitcoin Puell Multiple hits 14-month high. Historical Bitcoin cycles hint at charging $BTC bull run for next 3 years. Bitcoin regains $25K amid hope record China easing will boost BTC price. Bitcoin bull run still too soon to call, this Quant cautions. Bitcoin market cap ‘flips’ payments giant Visa for the 3rd time. Bitcoin bulls ignore the recent regulatory FUD by aiming to flip $25K to support. Bitcoin Tests $25,000, Is $BTC Bound For Bullish Continuation? Bitcoin Active Addresses Stay Low, Rally Unsustainable?

Majority of bitcoin retail investors lost money in the last seven years: BIS.(2) ‘Bitcoin is orthogonal to monetary and macroeconomic news’ claims NY Fed report. Blockstream CEO Adam Back says Bitcoin price could reach $10 Million by 2032. Bitcoin Ordinal and Inscription craze cools down, mempool nearly back to normal levels. However, Bitcoin layer 2 Stacks Network's $STX token spikes 50% as 'Ordinals' boom.(4) Bitmain partner BitFuFu starts marketplace for Crypto mining rig coupons. Cryptocurrency miners are leading the next stage of AI.

Ethereum's deflation accelerates as Shanghai upgrade looms. $48,800,000 in Ethereum has now burned as second-largest Crypto asset becomes deflationary. New research examines impact of incoming Ethereum update that will enable staked $ETH withdrawals. Former Goldman Exec Raoul Pal says Ethereum is safest bet, but also bullish on some rivals.

STABLECOINS

Existing Stablecoins won’t meet forthcoming global standards: FSB.(2)

ALTCOINS

Cardano To Continue Consolidating Unless It Clears This Crucial Level. Dogecoin At A Vital Price Level, Is There A Chance It May Rally? Polygon 25% Run Extends Following L2 Hype and Fundamental Rise of Network.(2) Solana soars double-digits as Helium Network announces merge date.(7)

EXCHANGES

Binance.US responds to reports alleging secret $400,000,000 bank transfers to firm managed by CEO Changpeng Zhao. Binance Fan Program Upgrade Offers Dinner With Sports Stars. Huobi seeks Hong Kong trading license as crypto policy is expanded and aims to expand to Hong Kong amid regulatory changes.(4)

LEGISLATION/REGULATION

SEC planting its regulatory flag as Congress still to pick a regulator: SEC’s Peirce. Crypto regulation camps divided in U.S., lawmakers draw lines and choose sides. Hong Kong plans to lift ban on retail crypto trading attracting capital & talent; China Supports.(9) 'Regulators let the bad guys get big' — Kraken CEO Jesse Powell speaks out after SEC settlement.(3)

LEGAL CASES

Galois hedge fund shuts operations after losing $40M to FTX collapse.(7) Former FTX Executive Nishad Singh to plead guilty to fraud charges related to exchange collapse.(2) Voyager creditors subpoena SBF and other FTX executives. FTX Japan Customers Can Begin Withdrawing Fiat, Crypto on Feb. 21.(7) FTX Bankruptcy Claims Sell for 20 Cents on the Dollar in Private OTC Markets.

Red Cross account hacked to promote Ripple scam. BlockFi appeals to cancel bankruptcy status for SBF’s offshore investment vehicle.

ATTACKS/HACKS/SCAMS

Fake Ethereum Denver website linked to notorious phishing wallet. Fake Bing ChatGPT Tokens Pop Up Amid AI Hype.

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.

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TheCryptoCurator
TheCryptoCurator

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post.


The Crypto Curator
The Crypto Curator

I've been exposed to the world of crypto since 2011. Now I use my knowledge to curate the most relevant news articles, podcast, videos, blogs and social media information to help you be in the know in Crypto!

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