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U.S. citizens and financial institutions are concerned about the Biden administration’s goals to get banks to report to the Internal Revenue Service (IRS) aggregate inflows from a customer’s bank account annually that exceed $600. Mainstream media is reporting and Big Tech’s swarm of fact-checkers have said that some lawmakers are
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Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, thinks the dogecoin rival shiba inu token (SHIB) is “pointless,” criticizing its supply. The cryptocurrency skyrocketed 230% over the past week. Michael Burry Shares His View on Shiba Inu Token Famous investor and founder of private investment firm Scion Asset
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This episode is sponsored by NYDIG.Download this episodeOn today’s episode, NLW covers some of the topics he’s missed throughout the week, including:A new report from Bank of America that calls digital assets “too big to ignore”US Bank custodying crypto via NYDIGAn underperforming jobs reportBitcoin futures ETF speculation hits fever pitchChainalysis report
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“Without proper regulation, these developments could amplify international shocks and undermine financial resilience globally,” Panetta said. “We could see risk-biased technological change, whereby the digitalization of finance favors business models that are riskier for the global economy.” Original Source
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Bitcoin (BTC) faced stiff resistance near previous highs on Oct. 8 as a fresh push over $56,000 quickly ended.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBuying the dip? $53,000 is “logical”Data from Cryptox Markets Pro and TradingView tracked BTC/USD as it came off four-month highs of $56,150.The area near $58,000, which
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This episode is sponsored by NYDIG.Download this episodeOn today’s episode, NLW looks at the growing excitement around bitcoin, including:Its decoupling from the stock marketWhat it means that U.S. institutional-focused CME futures are outpacing Deribit retail-focused international futuresHow bitcoin futures exchange-traded fund (ETF) speculation is driving excitementHow growing macro insecurity is
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Quant says some Bitcoin indicators show the same trend as in during Q4 2020, suggesting that BTC could make a similar move up. Bitcoin Netflow And Stablecoins Supply Ratio Trends Look Similar To Q4 2020 As explained by an analyst in a CryptoQuant post, two BTC indicators: the netflow and the stablecoins
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“Given the wide range of outcomes, both in terms of its growth potential and meaningful risk factors, SI has the widest risk-reward skew of our coverage, with a $300 bull case (189% upside) and a $40 bear case (61% downside,” Zerbe wrote, referring to Silvergate’s ticker symbol. Source
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Data shows stablecoins volume has surged up once again. Past pattern may suggest that this accumulation could be dry powder for Bitcoin’s next big move. Bitcoin Stablecoins Reserve Rises Up Again As pointed out by an analyst in a CryptoQuant post, the stablecoins reserve seems to have risen again back to peak
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Ethereum has recently made its way into the radar of institutional investors. More big money has been flowing into the digital asset in recent months following the success of decentralized finance (DeFi). With this much money coming in from institutional investors, the value of ETH has seen significant growth in
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