Newsfeed

Ethereum (ETH) faces the prospect of a correction as it struggles below the $2,200 support, indicating potential further decline below $2,000. The recent downtrend initiated from the $2,330 resistance zone, with ETH currently trading below $2,220 and the 100-hourly Simple Moving Average. The formation of a bearish trend line with resistance near $2,210 suggests a possible acceleration in the downward movement, particularly if there's a break below the $2,135 support. Failure to overcome the $2,210 resistance could extend the downtrend, with initial support at $2,135 and a critical level near $2,080. A breach below $2,080 might trigger a significant decline, potentially pushing Ethereum below the $2,000 mark, prompting traders to closely monitor key support levels for further insights into market direction. (Source: newsbtc.com)

The BRICS alliance, consisting of Brazil, Russia, India, China, Egypt, Ethiopia, Iran, Saudi Arabia, United Arab Emirates, and South Africa, is making significant strides towards reshaping the global financial order. With a bold plan to reduce dependence on the US dollar and create an alternative financial ecosystem, BRICS nations aim to challenge the dominance of the US and its Western allies. This strategic move has far-reaching implications for the international financial landscape, potentially altering the dynamics of global trade and economics. The alliance's plan to establish a new global financial paradigm challenges the current 'rules-based world order' dominated by the US and the West. Russian President Vladimir Putin emphasizes the need for a 'fair world order,' and the upcoming 16th BRICS summit in 2024 is expected to be a pivotal moment in this journey. Sectors likely to be affected include the global financial system, energy and commodity markets, capital markets,...

In a recent analysis by Fortune Business Insights, the global blockchain gaming market is poised for remarkable growth, with projections reaching an estimated $614 billion by 2030. This forecast represents an astounding 300% increase from the current market value of $154 billion. Key insights from the analysis highlight the dominance of North America in blockchain game item purchases, the popularity of role-playing games (RPGs), and the evolving landscape of gaming platforms. The findings underscore the immense growth potential in the blockchain gaming market, driven by the popularity of RPGs, regional contributions, and dynamic shifts in gaming platforms. The forecasted surge to $614 billion by 2030 signifies a promising trajectory for the industry. (Source: Coingecko)

AI SPERA's flagship product, "Criminal IP," is making waves in the cybersecurity landscape, offering a comprehensive suite of solutions for Cyber Threat Intelligence (CTI). With a focus on attack surface management (ASM) and fraud detection, Criminal IP provides real-time global IP and domain information for risk assessment and security management. The innovative "Criminal IP ASM" and "Criminal IP FDS" solutions redefine security posture by streamlining IT asset management and offering real-time anomaly detection for potentially fraudulent behavior. AI SPERA collaborates with industry giants such as VirusTotal, Cisco, and Tenable, enhancing integration for ongoing technological partnerships. (Source: Cryptopolitan)

Cryptocurrency mixers face a dilemma between preserving financial privacy freedom and embracing increased compliance measures to avoid U.S. scrutiny. Despite their reputation, mixers provide a legitimate service by keeping cryptocurrency transactions private. However, criminals using mixers to launder millions of dollars may threaten the legitimate use of these services by ordinary users seeking financial privacy when using cryptocurrencies. The article explores the role of mixers in financial privacy and the challenges they face in adapting to regulatory scrutiny, especially from U.S. authorities. (Source: Cointelegraph)

Tether, the company behind the stablecoin USDT, has confirmed its extensive collaboration with various U.S. government agencies, including the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI), and the Secret Service. In letters addressed to Senator Cynthia Lummis, Tether detailed its efforts to combat illegal activities and aid law enforcement actions against bad actors in the stablecoin ecosystem. Tether CEO Paolo Ardoino highlighted the proactive security measures taken by the company, including freezing funds held in wallets listed in the Office of Foreign Asset Control (OFAC) Specially Designated Nationals (SDN) list. The company reported freezing approximately $435 million in 326 wallets in collaboration with the mentioned agencies. (Source: Bitcoin.com)

Brazilian President Luis Inácio Lula da Silva has signed a law introducing taxes on crypto assets held abroad by Brazilian citizens. The law, set to come into force on January 1, 2024, will also apply to profits and dividends gained by Brazilian taxpayers from various investments abroad, including investment funds, platforms, real estate, or trusts. The Brazilian government aims to collect approximately 20 billion reals ($4 billion) in new taxes in 2024. Early adopters who start paying the taxes in 2023 will receive a lower levy of 8% on income made up to 2023, with the tax rate increasing to 15% from 2024. Earnings up to 6,000 Brazilian reais ($1,200) will be exempt from taxation. (Source: Cointelegraph)

Kazakhstan's central bank digital currency (CBDC), the digital tenge, has been declared a success following a month-long pilot project. The digital tenge was used for various transactions, including providing schoolchildren with free lunches in Almaty. Plastic cards issued by local banks, in collaboration with Visa and Mastercard, allowed users to make purchases in person or online and withdraw cash from ATMs. The pilot project involved merchant transactions with the option to accept digital tenge or convert them to "non-cash" tenge. The digital tenge is set for further improvements in 2024. (Source: Cointelegraph)

Do Kwon, the founder of Terra Luna, is reportedly set to be extradited to the United States. Montenegro has privately confirmed its intention to send Kwon to the U.S. to face criminal charges. Kwon was arrested in March while attempting to leave the country with falsified documents. He faces charges related to manipulating the TerraUSD stablecoin, leading to a $40 billion crash. The U.S. Securities and Exchange Commission (SEC) filed charges against Kwon in February, accusing him of orchestrating a multibillion-dollar crypto asset securities fraud. Kwon's legal team has been unsuccessful in halting the extradition process. (Source: Bitcoinist.com)

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler revealed that the regulator is taking a new look at spot bitcoin exchange-traded fund (ETF) applications based on recent court rulings. Gensler mentioned that between eight and a dozen filings are going through the process, and the SEC is reevaluating them following court rulings. He noted that the SEC had denied some of these applications in the past, but the recent court decisions prompted a fresh examination. There are currently 13 spot bitcoin ETF applications pending at the SEC, and Gensler emphasized that he won't prejudge any particular filing. (Source: Bitcoin.com)

Financial giants Lloyds, Banco Santander, and UBS participated in blockchain startup Fnality’s Sterling Payment System, marking a significant move in integrating blockchain into traditional finance. Live payments conducted through the system signal a future of digital transactions in both wholesale financial markets and emerging tokenized asset markets. Fnality’s Sterling Fnality Payment System, recognized as a regulated payment system by HM Treasury in August 2022, now falls under the purview of the Bank of England and the UK’s Payment Systems Regulator. Fnality specializes in creating tokenized versions of major currencies, such as US dollars, euros, British pounds, Canadian dollars, and Japanese yen, collateralized by cash held at central banks. (Source: Cryptopolitan)

Blockchain company Ripple has released a comprehensive white paper on central bank digital currencies (CBDCs), providing insights into their potential benefits, associated risks, and adoption challenges. The document reveals that 130 countries, representing 98% of the global GDP, are actively exploring or pursuing CBDC initiatives. Nineteen G20 countries are in advanced project stages, with several nations, including the United States, South Africa, and various EU members, in exploratory phases. The white paper emphasizes the growing momentum of CBDC projects worldwide, with 85% of global finance leaders anticipating their country launching a digital currency within the next four years. The majority of leaders identified financial inclusion as a significant benefit of CBDCs. (Source: Bitcoinist.com)