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Lisa Parker

An editor at FOMOdrive

  • Aug 07, 2023
  • 2 min read

Bitcoin Holds Above $28,000 - Ark Invest

Joe Biden, the President of the United States, put on an act of being a bitcoin maximalist.

US presidential candidates have been focusing on Bitcoin (BTC) as explained by Grayscale.

The SEC is currently reviewing 11 applications for Ethereum-based futures ETFs.

The DeFi sector's "contagion" has ceased following the occurrence of the Curve incident.

The SEC alleged that Digital Licensing had committed crypto fraud to the tune of $50 million.

Ark Invest believes that Bitcoin will remain above $28,000, as a strong support zone has formed at $28,328. This is further supported by the decrease in sales and increase in BTC reserves from mining pools, which suggests that a bottom has been reached.

A temporary asset freeze has been imposed on Utah-based mining company Digital Licensing by the U.S. Securities and Exchange Commission (SEC), alleging that it has committed $50 million in crypto-currency fraud.

In the last seven days, the SEC has been inundated with requests to introduce futures ETFs on Ethereum. Currently, the SEC is assessing 11 of these applications.

Coinbase's general counsel has declared that they will be submitting a motion to dismiss the SEC lawsuit in order to gain a better understanding of the regulations in the crypto industry.

Analysts from BNB Chain concluded that, despite the bearish sentiment in the cryptocurrency market during the second quarter, the number of verified smart contracts and the overall growth of Web3 continued to increase.

It appears that the effects of the recent attack on Curve Finance on the DeFi ecosystem are limited, according to JPMorgan. However, due to CRV's role as a trading pair in various liquidity pools, an attack on Curve could have a ripple effect and put pressure on other DeFi protocols.

Joe Biden, the President of the United States, kicked off his election campaign with a short video featuring himself holding a mug of coffee, with red laser eyes - a traditional symbol of support for Bitcoin.

Grayscale's report predicts that Gen Z and millennials will account for 44% of voters in the 2024 US presidential elections, which is driving the promotion of cryptocurrencies by candidates.

The Tel Aviv Stock Exchange (TASE) has entered into a partnership with Fireblocks, a digital asset platform, to provide institutional clients with cryptocurrency services.

Paolo Ardoino, the Chief Technology Officer of Tether, has expressed worry that the USDT stablecoin is facing a continuous pressure of approximately 0.1%.

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