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Finance, Finance. Finance, Bitcoin, Bitcoin, Bitcoin

Finance, Finance. Finance, Bitcoin, Bitcoin, Bitcoin

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 Biggest Movers: SHIB up Almost 20% Following Robinhood Listing, NEAR Also Higher

Biggest Movers: SHIB up Almost 20% Following Robinhood Listing, NEAR Also Higher

Shiba inu (SHIB) was one of the biggest gainers in crypto markets on Tuesday, as Robinhood added the meme coin to its list of crypto offerings. This came as the trading app also added a host of others, including SOL which also gained following recent losses.

Shiba Inu (SHIB)

Shiba inu (SHIB) was undoubtedly the biggest gainer during Tuesday’s trading session, as it was finally confirmed that Robinhood had added the meme coin to its offering.

Following a low of $0.00002198 to start the week, SHIB/USD rallied to an intraday high of $0.00002695 earlier today.

This peak was the highest level SHIB has traded since February 17, and comes after prices rebounded from the long-term support level on Monday.

Biggest Movers: SHIB up Almost 20% Following Robinhood Listing, NEAR Also Higher
SHIB/USD – Daily Chart

Looking at the chart, yesterday’s floor at $0.00002175, held firm for the last few weeks, as bulls likely were anticipating today’s announcement.

As a result of the surge in price, SHIB has now broken out of its long-term resistance level of $0.00002747.

Despite this almost two-month high, the 14-day RSI is only tracking at 57, with its recent high closer to 70.

Robinhood traders could see this as an opportunity to push the meme coin higher.

NEAR Protocol (NEAR)

Although SOL was also added to Robinhood on Tuesday, it was NEAR which was today’s second-biggest gainer.

NEAR rose to a peak of $17.17 during today’s session, as prices continued to move away from its recent support level.

Earlier gains in NEAR have somewhat eased as the day matured, as prices came closer to the resistance point of $17.55.

Biggest Movers: SHIB up Almost 20% Following Robinhood Listing, NEAR Also Higher
NEAR/USD – Daily Chart

However, before touching this point, bears have moved to quash the upwards trend, as the price NEAR seems as if it will continue to consolidate.

Today’s surge comes as price strength climbed back above a recent floor within the 14-day RSI indicator, and now sits at the 60 level.

With the nearest ceiling at the 64 point, there may be some further gains in NEAR, however, if the resistance of $17.55 is hit, we may see yet another drop.

Crypto expert sentenced to 5 years for helping North Korea evade sanctions

Crypto expert sentenced to 5 years for helping North Korea evade sanctions

Prosecutors say Virgil Griffith also developed ‘cryptocurrency infrastructure and equipment inside North Korea’

Virgil Griffith spoke in North Korea on how to use cryptocurrency to evade sanctions and achieve independence from the global banking system.

Associated Press

NEW YORK — A cryptocurrency expert was sentenced Tuesday to more than five years in federal prison for helping North Korea evade U.S. sanctions.

Virgil Griffith, 39, pleaded guilty last year to conspiracy, admitting he presented at a cryptocurrency conference in Pyongyang in 2019 even after the U.S. government denied his request to travel there.

A well-known hacker, Griffith also developed “cryptocurrency infrastructure and equipment inside North Korea,” prosecutors wrote in court papers. At the 2019 conference, he advised more than 100 people — including several who appeared to work for the North Korean government — on how to use cryptocurrency to evade sanctions and achieve independence from the global banking system.

The U.S. and the U.N. Security Council have imposed increasingly tight sanctions on North Korea in recent years to try to rein in its nuclear and ballistic missile programs. The U.S. government amended sanctions against North Korea in 2018 to prohibit “a U.S. person, wherever located” from exporting technology to North Korea.

Prosecutors said Griffith acknowledged his presentation amounted to a transfer of technical knowledge to conference attendees.

“Griffith is an American citizen who chose to evade the sanctions of his own country to provide services to a hostile foreign power,” prosecutors wrote. “He did so knowing that power — North Korea — was guilty of atrocities against its own people and has made threats against the United States citing its nuclear capabilities.”

Defense attorney Brian Klein described Griffith as a “brilliant Caltech-trained scientist who developed a curiosity bordering on obsession” with North Korea. “He viewed himself — albeit arrogantly and naively — as acting in the interest of peace,” Klein said. “He loves his country and never set out to do any harm.”

Klein added that he was disappointed with the 63-month prison sentence but “pleased the judge acknowledged Virgil’s commitment to moving forward with his life productively, and that he is a talented person who has a lot to contribute.”

A self-described “disruptive technologist,” Griffith became something of a tech-world enfant terrible in the early 2000s. In 2007, he created WikiScanner, a tool that aimed to unmask people who anonymously edited entries in Wikipedia, the crowdsourced online encyclopedia.

WikiScanner essentially could determine the business, institutions or government agencies that owned the computers from which some edits were made. It quickly identified businesses that had sabotaged competitors’ entries and government agencies that had rewritten history, among other findings.

“I am quite pleased to see the mainstream media enjoying the public-relations disaster fireworks as I am,” Griffith told The Associated Press in 2007.

Klein previously said Griffith cooperated with the FBI and “helped educate law enforcement” about the so-called dark web, a network of encrypted internet sites that allow users to remain anonymous.


  • Mozilla Says No to Bitcoin (BTC) in Favor of Proof-of-Stake Cryptos

    Mozilla Says No to Bitcoin (BTC) in Favor of Proof-of-Stake Cryptos

    • Mozilla changes its crypto donation policy, removing Proof-of-Work (PoW) donations.

    • The latest move comes amidst heightened scrutiny over Bitcoin mining and its impact on the environment.

    • Technical indicators are bearish for Bitcoin, with BTC sitting below the 50-day EMA.

    Since China banned Bitcoin mining, Bitcoin (BTC) mining has been a hot topic. The China ban resulted in the U.S becoming the world’s largest Bitcoin mining nation. Since then, some negative statistics have hit the news wires, adding to the scrutiny over the impact of Bitcoin mining on the environment.

    With governments and agencies now focused on Proof-of-Work mining and the environmental impact, shareholders and beyond are also influencing the position of crypto-related entities on Proof-of-Work protocols and the likes of Bitcoin.

    Mozilla Will Now Only Accept Proof-of-Stake Crypto Donations

    At the start of the year, FX Empire reported the Mozilla Foundation’s review of its policy on crypto donations and alignment with the Foundation’s climate goals.

    In response to a backlash over Mozilla’s position on cryptos, Mozilla has updated its policy on Crypto donations.

    Last week, Mozilla took to Twitter, sharing its updated policy on accepting crypto donations. Mozilla tweeted,

    India's crypto exchanges block deposits via state-backed system, stir alarm

    India's crypto exchanges block deposits via state-backed system, stir alarm

    FILE PHOTO: Representation of cryptocurrency Bitcoin is seen in this illustration

    By Aditya Kalra

    NEW DELHI (Reuters) - Big Indian crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using a widely-used state-backed transfer system, spurring users to voice concern on social media.

    India has spent years on a law to ban or regulate cryptocurrencies, with its central bank backing a ban over their threat to financial stability, but a recent decision to tax income from them suggests acceptance by authorities.

    The decision follows a one-line statement last week by the National Payments Corporation of India saying, it was not aware of any crypto exchange using its United Payments Interface (UPI) framework, which eases bank transfers.

    On Wednesday, CoinSwitch's app was not allowing users to load deposits, while rival exchange WazirX said on Twitter, "UPI is not available," adding that it had no estimated time to fix the issue with UPI deposits.

    "You have closed the INR deposit without any information. At least let us know how long it will be closed," a Twitter user, Avijit Debnath, asked CoinSwitch on the social media platform.

    An industry source with direct knowledge of the matter said the decision by CoinSwitch to halt UPI acceptance resulted from "regulatory uncertainty" after the NPCI statement.

    The companies did not immediately respond to a Reuters request for comment.

    The NPCI did not immediately respond.

    India decided in February to tax income from cryptocurrencies and other digital assets at 30%, signalling that authorities accepted digital currencies, but uncertainty over regulation has weighed on the industry.

    In October, CoinSwitch said it had raised more than $260 million for a valuation of $1.9 billion, underscoring the rise in popularity of crypto trading.

    No official data is available on the size of the Indian crypto market, but industry estimates suggest investors number from 15 million to 20 million, with total holdings of about 400 billion Indian rupees ($5.25 billion).

    First Mover Asia: Recycling Bad Actors in Crypto; Bitcoin Holds Below $40K

    First Mover Asia: Recycling Bad Actors in Crypto; Bitcoin Holds Below $40K


    Good morning. Here’s what’s happening:

    Prices: Bitcoin's price stabilized Tuesday – in contrast to U.S. stocks – after the U.S. Consumer Price Index rose to 8.5% in March, taking the key inflation rate to a fresh four-decade high.

    Insights: It's not uncommon for perceived bad actors in crypto to get banished, only to reappear later in a different role, CoinDesk's Sam Reynolds reports.

    Technician's take: Selling pressure could fade over the next few days.

    Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context.

    Prices

    Bitcoin (BTC): $39,651 +0.5%

    Ether (ETH): $3,008 +1.2%

    Top Gainers

    Asset Ticker Returns Sector
    Filecoin FIL +2.3% Computing
    Polygon MATIC +1.4% Smart Contract Platform
    Algorand ALGO +0.9% Smart Contract Platform

    Top Losers

    Asset Ticker Returns Sector
    Polkadot DOT −0.8% Smart Contract Platform
    Bitcoin BTC −0.7% Currency
    Ethereum Classic ETC −0.7% Smart Contract Platform

    Bitcoin's slide pauses after break below $40K

    Bitcoin (BTC), the largest cryptocurrency by market value, is holding its own as oil prices jump back above $100 a barrel, rekindling inflationary concerns among traditional investors.

    The U.S. trading action on Tuesday started off with the monthly U.S. Consumer Price Index report showing that inflation accelerated to 8.5% in March, a fresh four-decade high. The data point assuaged analysts' concerns that prices might be spiraling out of control, and stocks rose; some economists said inflation might be nearing a peak. Later in the session, rising oil prices appeared to dent the optimism, and stocks ended the day lower.

    But as of press time, bitcoin was up slightly, changing hands around $39,600.

    The strength was surprising because bitcoin had been down for two straight days, dipping below $40,000 earlier in the week for the first time since mid-March. Bitcoin is seen by some investors as a hedge against inflation, but lately price movements for the 13-year-old cryptocurrency have been increasingly correlated with U.S. stocks.

    "A large amount of institutional money that became crypto investors got their start in 2021, and they bought bitcoin between the $30,000 and $40,000 range, which could suggest they may want to buy this dip if they still believe in the long-term outlook," Edward Moya, a senior analyst for the foreign-exchange brokerage Oanda, wrote Tuesday in an email.

    CoinDesk markets analyst Damanick Dantes noted in Tuesday's Market Wrap column that the bitcoin market is looking surprisingly calm at the moment, given the price plunge earlier in the week.

    Even so, traders were looking for news from Shanghai, where a surge in Covid-19 cases has led to lockdowns – and speculating on what the potential economic impact might be.

    A big gainer in crypto markets on Tuesday was SHIB, the Shiba Inu-themed meme token inspired by dogecoin (DOGE). The SHIB price surged after the trading platform Robinhood listed the asset – months after speculation surfaced that such a move was in the offing.

    Markets

    S&P 500: 4,397 -0.3%

    DJIA: 34,220 -0.3%

    Nasdaq: 13,371 -0.3%

    Gold: $1,970, 1.1%

    Insights

    Gem.xyz’s Neso mess not yet an argument for doxxing DeFi

    Non-fungible token (NFT) marketplace Gem.xyz had to unceremoniously oust a developer credited as a co-founder because of allegations that have emerged over past inappropriate behavior and sexual improprieties.

    Neso, the person at the center of the controversy, is gone from the team’s roster. The Gem.xyz team maintains that he was an anonymous developer, not a shareholder, and there’s not yet evidence that would withstand court scrutiny to suggest that he’s anyone else.

    Whatever work the person behind "Neso" has done to build up the reputation and respect behind the name is now gone. Neso might return under a new pseudonym to try and rebuild and start over. Perhaps, Neso was just that – a fresh start after a prior identity had to be abandoned.

    Despite not knowing who Neso is in real life, the corrective measures still worked. They were still found out and ousted from the team, their name now labeled as persona non grata.

    Although bad actors might change their nom de web, they always seem to be discovered. Michael Patryn, a serial scammer who was a co-founder of failed Canadian crypto exchange QuadrigaCX, was identified as Sifu, because of the due diligence work of Anon. The corrective measures worked, though Wonderland founder Daniele Sestagalli maintains that while as Sifu, Patryn had done nothing wrong.

    If Neso reappears once again, he will be found out and whatever project he’s associated with will need to go through the trouble of distancing itself from him.

    Like Neso and Sifu, Mt. Gox’s Mark Karpeles wants a fresh start, in his case with UnGox, a rating agency for crypto. Karpeles – who is against the DeFi culture of anonymity pseudonyms provide – maintains that he’s the man for the job because everything bad that could have happened in the crypto world has happened to him.

    But Karpeles is up against a legion of critics. "Imagine trusting Mt. Gox’s Karpeles with anything, especially with crypto ratings" is the consensus on Crypto Twitter.

    Ironically, if Karpeles chose to start the new venture under a pseudonym he could let his track record do the work. Not his name. It might be that Karpeles is the guy to rate crypto projects, but with a name like his attached to it his new venture has already been convicted in the court of public opinion.

    Technician's take

    Bitcoin Attempting to Stabilize Around $40K; Resistance at $43K-$47K

    Bitcoin daily chart shows support/resistance levels (Damanick Dantes/CoinDesk, TradingView)

    Bitcoin (BTC) returned to above $40,000 on Tuesday as buyers reacted to short-term oversold signals. The cryptocurrency could face additional price swings within its two-month-long range of between $37,500 support and $47,000 resistance.

    BTC is down by about 12% over the past week, although technical indicators suggest the pullback could stabilize over the next few days.

    The relative strength index (RSI) on the daily chart is near oversold levels, which means buyers could remain active heading into the Asia trading day. Further, positive momentum signals on the weekly chart suggests pullbacks will remain brief this month.

    Stronger resistance is seen at $50,966, which could limit an upswing in price.

    Important events

    8:30 ba.m. HKT/SGT(12:30 a.m. UTC): Australia Westpac consumer confidence (April)

    10 a.m. HKT/SGT(2 a.m. UTC): Reserve Bank of New Zealand interest rate decision and accompanying statement.

    10 a.m. HKT/SGT(2 a.m. UTC): China trade balance CNY/USD (Feb.)

    CoinDesk TV

    In case you missed it, here is the most recent episode of "First Mover" on CoinDesk TV:

    U.S. consumer prices rose 8.5% in March, hitting a new four-decade high. However, bitcoin's price dipped briefly below $40,000 before bouncing back above that level. Benoit Bosc of GSR shared his analysis on the crypto markets. Waves founder and lead developer Sasha Ivanov explained why he believes the WAVES price volatility was manipulated. Plus, Chris Giancarlo, the former CFTC chair and current senior counsel at Willkie Farr & Gallagher, offered insights on the prospect of a digital dollar.

    Headlines

    STEPN Runners Undeterred by ‘Move-to-Earn’ Game’s Pricey NFT: The Solana-based game is booming despite its cost to participate.

    US Inflation Jumps to Fresh 4-Decade High of 8.5% in March: The U.S. Consumer Price Index accelerated last month as supply bottlenecks and Russia-Ukraine war-related sanctions pushed already-elevated inflation higher.

    White House in Damage Control Mode as Crypto Markets Brace for 8%-Plus Inflation: The Biden administration blames Russia's war on Ukraine for the extraordinary elevated inflation to be revealed by Tuesday's data from the U.S. Labor Department.

    Banks May Face Competition From CBDCs, Study Suggests: The survey also shows central banks are uncertain whether distributed ledger technology should underpin a government-backed digital currency.

    Shiba Inu, Solana Tokens Among 4 Added to Robinhood: SHIB, SOL, Polygon’s MATIC and Compound’s COMP tokens were added to Robinhood Crypto.

    How Ichi Tokens Plunged 90% After Bad Debt Fiasco on Rari: Cascading liquidations on an overcollateralized pool on Rari led to a sudden price drop, observers noted.

    Longer reads

    Elon Musk, Twitter and Running Things Like a DAO: Why the world's richest man may not have the lasting influence he craves.

    Today's crypto explainer: What Is Bitcoin Pizza Day?

    Said and heard

    "Economists and investors are looking for evidence the inflation surge that started in early 2021 is close to a peak. One possible early sign came from the monthly change in the core index. It rose 0.3% in March from the prior month, the slowest pace in six months, driven by a 3.8% decline in used vehicle prices. Another encouraging sign was that airline fares, hotel prices and other more volatile categories drove much of the price gains for services, while pressure from categories such as housing, which tend to be more persistent, eased," said Blerina Uruci, U.S. economist at T. Rowe Price Group . (The Wall Street Journal) ... "March’s data may represent a high-water mark for inflation, some economists have said. Overall price increases could begin abating in the coming months in part because gasoline prices have come down somewhat – a gallon cost $4.10 on Tuesday, according to AAA. Researchers have been expecting consumers to stop buying so many goods, like cars and appliances, potentially taking pressure off overburdened supply chains and allowing prices for those products to moderate." (The New York Times) ...