BITCOIN

Global investment bank Goldman Sachs has reportedly offered its first-ever loan backed by cryptocurrency. The cash loan was collateralized by bitcoin owned by the borrower. A spokesperson for Goldman Sachs explained that the deal is interesting to the investment bank due to its structure and 24-hour risk management. Goldman Sachs and Bitcoin-Backed Loans Global investment bank Goldman Sachs has offered its first-ever cash loan backed by bitcoin ( BTC ), Bloomberg reported Thursday. A spokeswoman for the bank explained to the publication that the secured lending facility lent cash collateralized by bitcoin that is owned by the borrower. She further noted that the deal was interesting to Goldman Sachs because of its structure and 24-hour risk management. Goldman Sachs has been increasingly friendly to cryptocurrency. In March, the investment bank featured cryptocurrencies, the metaverse, and digitalization on its homepage. The firm sees the metaverse as an $8 trillion opportunity .

The Argentinian government has taken the first steps in the launch of its own central bank digital currency (CBDC). A new decree identified the number 207/2022 gives new faculties to the Argentinian mint to involve in the investigation, development, and issuance of digital currencies. This puts Argentina on the trail of countries like Brazil and Mexico, that are already involved in the development of their e-currencies. Argentina Prepares the Field for a CBDC The government of Argentina is preparing the legal field for future issuance of its own central bank digital currency, the digital peso. In a decree approved and published on April 26 with the number 207/2022, the Argentinian government modified the functions and faculties of the national mint, giving it new responsibilities and possibilities. In these new faculties, the decree includes capture and digital processing of data, images, codes, sounds, and microchips, software design and development, implementation of digital sec

Indian Finance Minister Nirmala Sitharaman says that the country’s crypto policy will not be rushed. “Our intention is in no way to hurt the ecosystem, or to even say that we don’t need it,” she added. Finance Minister on Indian Crypto Regulation India’s finance minister, Nirmala Sitharaman, discussed cryptocurrency regulation Wednesday at a fireside chat organized by Stanford University School of Medicine. She explained that India will not rush to finalize the country’s crypto policy. On the contrary, she said India will take an informed decision after due deliberations across multilateral fora, the Mint reported. Sitharaman admitted that blockchain technology has the potential to improve India’s economy. “Blockchain is full of potential not just in the payments arena but also in many others,” she described, adding: Our intention is in no way to hurt the ecosystem, or to even say that we don’t need it, but to define for ourselves how we need them and in what ways their growth s

The king of cryptocurrency is suffering another meltdown at a 3.3% drop in just 24 hours. Bitcoin is currently trading at around $38,210 which is the lowest so far since March of this year when US President Joe Biden signed an executive order on crypto regulations. Although the BTC price went up at $40,800 on Tuesday, it slid momentarily afterward. Suggested Reading | Bitcoin (BTC) Dips Below $40,000 Over Ukraine And Possibility Of Fed Rate Hike Amazon Denies Speculation About Accepting BTC Payments Amazon’s retraction against the mass speculation that the retail giant will be accepting BTC payments was the main causative factor of the sudden drop. Ether was even pushed further down as well. BTC price went straight up when Amazon announced a job advertisement connected to crypto. However, a couple of hours later, an Amazon spokesperson denied claims that Bitcoin will be added as a payment method this year. Bitcoin peaked at around US$40,545 as the investors rushed with their bets

Ethereum was trying to move on the upside, although modestly. The price action has been tight as the range that ETH was trading remained between $2800 and $2900 respectively. Prices have been consistently trying to restest the $2900 mark but have faced rejection from the aforementioned level. Sellers currently have pushed the price beneath the $2900 mark. Over the last week, ETH lost over 7%, however, in the past 24 hours the king altcoin showed signs of recovery. The coin registered a 1% jump in prices. This development could make it possible for the bulls to re-enter the market. It is a good sign that the bulls have been buying at lower price levels for the altcoin. This signals that prices might shoot up over the upcoming trading sessions. Ethereum Price Analysis: One Day Chart Ethereum flashes an ascending triangle on the one-day chart. Image Source: ETH/USD on TradingView Ethereum was priced at $2871 at the time of writing. Its immediate mark of resistance was at $3028, over t

Bitcoin continues to underperform as a general “risk-off” sentiment has investors driving toward gold as a safe haven asset. Not Risking It Concerns about the Russo-Ukrainian war continue. The U.S. inflation struggles at a four-decade high and Fed rate hike fears prevail. The uncertainty extends to the world economy as a recession is expected instead of a recovery. The IMF’s managing director Kristalina Georgieva called it “a crisis on top of a crisis.” “The war is a supply shock that reduces economic output and raises prices. Indeed, we forecast inflation will accelerate to 5.5 percent in advanced economies and to 9.3 percent in emerging European economies excluding Russia, Turkey, and Ukraine. ” The IMF stated last week. Reuters recently quoted Commerzbank analyst Daniel Briesemann, who talked in a note about the factors that have “lent buoyancy to gold in recent days,” mentioning the “strong buying interest on the part of ETF (Exchange Traded Fund) investors” and news about the U

Bitcoin failed to gain pace above $40,700 and declined against the US Dollar. BTC traded to a new weekly low and might struggle to climb above $39,200. Bitcoin started a fresh decline after it failed to clear the key $40,700 resistance zone. The price is now back below $39,000 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $39,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be capped near $38,800 or $39,200. Bitcoin Price Declines Sharply Bitcoin price attempted a clear move above the $40,500 level. However, BTC failed to clear the $40,700 and $40,750 resistance levels. A high was formed near $40,776 and the price reacted to the downside. There was a sharp decline below the $40,000 level and the 100 hourly simple moving average. Besides, there was a break below a connecting bullish trend line with support near $39,500 on the hourly chart of

Abu Dhabi Global Market has awarded a full financial license to crypto exchange Kraken. “Kraken will be the first global virtual assets exchange group in the UAE to offer investors the ability to invest, trade, withdraw and deposit virtual assets (bitcoin and ether) directly in local AED currency,” the regulator explained. Kraken Establishes Middle East Headquarters Abu Dhabi Global Market (ADGM) announced Monday that cryptocurrency exchange Kraken has become “the first global virtual assets exchange group in the UAE to receive a full financial license from ADGM.” Abu Dhabi Global Market is an international financial center and free zone in Abu Dhabi, the capital of the United Arab Emirates (UAE). It is the largest regulated jurisdiction of virtual asset activities in the Middle East and North Africa (MENA) region. The regulator explained: Kraken is the first global cryptocurrency exchange to receive a Financial Services Permission (FSP) license to operate a regulated virtual as

PRESS RELEASE. In this industry, it is crucial to establish key strategic partnerships in order to ensure both longevity and prosperity. As such, LABEL Foundation has officially announced a partnership with Polygon Studios, with the further intention to chase their multichain goal and launch their Dapp additionally on Polygon Network, along with Binance Smart Chain and Ethereum Network. What is Polygon? Polygon is a Layer-2 scaling solution which works in tandem with the Ethereum blockchain to make transactions quicker and less expensive. Polygon is a PoS (Proof-of-Stake), Ethereum Virtual Machine (EVM) compliant, secure, Layer-2 solution for dApps (decentralized applications) that offers rapid transactions and minimal costs. Polygon Studios is Polygon’s gaming and NFT division, dedicated to doing its part in terms of building the worldwide blockchain-based gaming and NFT space as well as bridging the gap between Web 2.0 and Web 3.0 gaming via investment, marketing, and develope

Only 5.3% of Spanish crypto investors have received a warning to declare income taxes, according to a report in local media. If accurate, this would mean that only 233,000 investors, a minuscule portion of the estimated 4.4 million Spanish citizens that have delved into the crypto world with investment ideas in mind, were contacted by the tax agency. Spanish Tax Agency Falls Flat on Crypto Vigilance Only a small portion of cryptocurrency investors and users in Spain have been contacted by the national tax agency in regards to their crypto operations from last year. The organization managed to send warnings to only 5.3% of the estimated number of Spanish citizens that have invested or made transactions with cryptocurrency, according to a report from local media. This means that only 233,000 investors of 4.4 million have been warned about their duty of declaring cryptocurrencies using the income tax and holdings models. While this fails to include a significant part of the total of

Ethereum started a strong recovery from $2,800 against the US Dollar. ETH is back above $3,000 and eyes a major increase above the $3,035 resistance. Ethereum started a major recovery wave above $2,900 and $2,950. The price is now trading above $2,950 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,950 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,980 support to accelerate further higher above $3,035. Ethereum Price Dives Ethereum extended decline below the $2,850 support zone. However, ETH found a strong buying interest near the $2,800 level. A low was formed near $2,800 and the price started a strong upward move. There was a clear move above the $2,880 and $2,920 resistance levels. Ether price climbed above the 50% Fib retracement level of the key decline from the $3,179 swing high to $2,800 low. Besides, there was a break above a key bearish trend line with resistance

Bitcoin extended decline and tested the $38,200 zone against the US Dollar. BTC started a major recovery wave and climbed above the $40,000 resistance. Bitcoin extended decline, but it remained stable above the $38,000 level. The price is now back above below $40,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $39,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is eyeing more upsides above the $40,500 and $40,950 resistance levels. Bitcoin Price Recovers Sharply Bitcoin price remained in a bearish zone after it broke the $39,200 support. BTC extended decline below the $38,500 level, but the bulls were active near the $38,200 level. A low was formed near $38,200 and the price started a major increase. The price climbed higher above the $39,200 and $39,500 resistance levels. There was a move above the 23.6% Fib retracement level of the key decline from the $42,950 swing high to $38

Ethereum started a sharp decline from $3,000 against the US Dollar. ETH is struggling below $2,900 and might slide below the $2,800 level in the near term. Ethereum started a major decline after there was a clear move below $3,000. The price is now trading above $2,900 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,935 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,840 support to avoid more downsides in the near term. Ethereum Price Dives Ethereum attempted a clear move above the $3,000 resistance zone. However, ETH failed to gain strength above the $3,000 level and formed a short-term top near $2,980. A high was formed at $2,967 and the price started a sharp decline. There was a clear move below the $2,950 support zone and the 100 hourly simple moving average. The bears were able to push the price below the $2,900 level. A low was formed near $2,840 and the price is now consol

The CEO of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, says Apple has not played nice with crypto, noting that the tech giant has banned a bunch of crypto features in its App Store. Apple’s anti-crypto policy raises “potential antitrust issues,” said the Coinbase executive. Potential Antitrust Issues Coinbase CEO Brian Armstrong talked about Apple’s crypto policy in an episode of the Superteam podcast, which aired last week. Superteam is a podcast that explores the web3 ecosystem in India. Commenting on Apple’s anti-crypto policy, he detailed: “You try to get your app in the App Store and Apple ejected it and then they had this competing one that got approved … it’s a black box.” The Coinbase boss elaborated: Apple so far has not really played nice with crypto. They’ve actually banned a bunch of features that we would like to have in the app, but they just won’t allow it — so there’s potential antitrust issues there. Armstrong added: “There’s going to h

Skybridge Capital, a $3.5 billion asset management firm, is “extremely bullish” on the crypto sector, says an executive of the firm. “For us, we think the cryptocurrency markets represent tremendous growth.” ‘The Cryptocurrency Markets Represent Tremendous Growth’ Two executives of Skybridge Capital — founder Anthony Scaramucci and director John Darsie — talked about the firm’s crypto outlook in an interview with Bloomberg ahead of SALT, a global thought leadership forum, this week. Scaramucci explained that almost half of Skybridge’s asset under management is linked to crypto assets, including bitcoin, the Algorand protocol, Ethereum, and publicly traded, crypto-related stocks. Noting that his firm expects the crypto focus to triple its assets under management from $3.5 billion to $10 billion, he said: We feel so strongly about this opportunity that we’ve adapted and repositioned the firm to eventually be a leading cryptocurrency asset manager and adviser. “For us, we think t

Exmo, a U.K.-based crypto exchange with extensive presence in Eastern Europe, is pulling out of Russia, Belarus and Kazakhstan. The trading platform, Exmo.com, says it’s making the move to avoid jeopardizing its expansion in other regions by operating in high-risk markets like these. The business has been sold to a Russian vendor, alongside rights to the Exmo.me domain and branding. Crypto Exchange Exmo Transfers Russia Operations to Local Entity Major Eastern European exchange Exmo announced earlier this week it’s selling its digital asset business in Russia and Belarus. The company explained the “tough decision” with efforts to avoid risking its global expansion plans by working in these countries. Both nations have been targeted by Western sanctions over Moscow’s invasion of Ukraine. “In addition, our Russian UBO, Eduard Bark, is leaving the company, transferring his stake as a part of a response to one of our directors, Serhii Zhdanov,” Exmo pointed out. “Kazakhstan clients wer

International Monetary Fund (IMF) Managing Director Kristalina Georgieva says India is “a country that is on the frontline of digital currencies,” especially “how it handles a reduction of risk from crypto assets for the Indian people and businesses.” She met with Indian Finance Minister Nirmala Sitharaman to discuss crypto regulation. IMF’s Chief Comments on Indian Crypto Policy IMF Managing Director Kristalina Georgieva commended the Indian government’s approach to cryptocurrency at an IMF press conference Wednesday. Responding to a question about “what role India can play in improving the global economic situation so as to safeguard the interests of the most vulnerable,” the IMF chief said, “India already plays a very important international role.” She elaborated: And it is a country that is on the frontline of digital currencies, especially central bank digital currency and how it handles a reduction of risk from crypto assets for the Indian people and businesses. The IMF b

The CEO of the Nasdaq-listed company Microstrategy has dispelled the rumor that his company has been quietly selling bitcoin. He explained that as a company regulated by the Securities and Exchange Commission (SEC), changes in bitcoin holdings must be disclosed to shareholders via SEC filings. Microstrategy’s CEO Points Out Any Bitcoin Sales Must Be Publicly Disclosed to SEC and Shareholders This week, a rumor has been circulating on social media that the Nasdaq-listed pro-bitcoin software company Microstrategy has been quietly selling its BTC . Microstrategy CEO Michael Saylor tweeted Friday dispelling the rumor. He explained that as a regulated company under the U.S. Securities and Exchange Commission (SEC), Microstrategy is required to disclose any material changes in corporate strategy to shareholders via SEC filings. In addition, the executive emphasized that SEC filings are public records that are “available to all.” He further noted that material changes include acquiring

PRESS RELEASE. On 22 April, Tori Zero announced the strategic partnership with Wirex. The first collaboration will focus on a new product developed by Wirex – the Wirex Wallet. Tori Zero will be the first group of NFT projects integrated into this new wallet. Tori Zero is the first virtual idol project in the blockchain industry and the first NFT project that utilises motion capture and facial motion capture technologies. The character has a great background story and comes with a unique virtual idol economic model, which empowers its long-term potential. The collaboration with Wirex is a cross-industry partnership and the first presentation of Tori in Web 2. Wirex is a digital payment platform headquartered in London. It operates globally with teams and offices in different countries and has over 5 million users in more than 130 countries. The new product – Wirex Wallet, will be a cross-chain wallet used for DeFi and NFTs. The initiation of this partnership between Tori and Wirex

The Kingdom of Saudi Arabia is looking into the possibility of implementing blockchain technology across its government as well as allowing the use of cryptocurrencies. However, an official said the kingdom can only successfully build blockchain-based solutions if it hires people that are proficient in this technology. Government Needs to Hire Talented Individuals Saudi Arabia is considering putting into action the use of cryptocurrencies in the kingdom as well as the adoption of blockchain, a report quoting a government official has said. In addition, the report says the kingdom has also been discussing Web3 technologies and how these can be utilized. The official, Prince Bandar Bin Abdullah Al Mishari, an assistant to the Minister of Interior for technology, is nonetheless quoted in an Unlock Media report suggesting that more needs to be done before Saudi Arabia can successfully build blockchain-based solutions. He said: There have been several meetings, webinars that have dis

PRESS RELEASE. Mohali, India, April 21, 2022: Amidst the rapidly growing popularity of metaverse, and global giants like Facebook, Microsoft, Gucci, Louis Vuitton, and more tapping into the metaverse world, Antier Solutions is helping businesses to ride the wave with its diligently-crafted metaverse development services . The metaverse gained exposure and momentum in October when Mark Zuckerberg rebranded Facebook to Meta and shared his vision to create an immersive virtual world where people can interact as avatars. According to Nishant, CTO of Antier, “Web 3.0 and metaverse are poised to redefine the internet. They will pave the path for a persistent 3D environment where the movement across places and interaction with people will be as easy as in the real world.” Antier Solutions provides a host of offerings – including consulting and development services – to help businesses harness the potential of Web 3.0 and launch their metaverse. Antier’s team of skilled metaverse develo

Ethereum gained pace above the $3,050 resistance against the US Dollar. ETH price could continue higher if there is a clear move above the $3,120 resistance. Ethereum extended upside correction above the $3,080 and $3,100 levels. The price is now trading above $3,050 and the 100 hourly simple moving average. There was a move above a major bearish trend line with resistance near $3,060 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $3,120 and $3,130 to continue higher in the near term. Ethereum Price Extends Recovery Ethereum formed a base above the $3,000 and started a decent recovery wave. ETH was able to clear the $3,050 resistance zone and the 100 hourly simple moving average. There was also a move above a major bearish trend line with resistance near $3,060 on the hourly chart of ETH/USD. The pair surpassed the $3,080 resistance zone and traded above $3,100. A high is formed near $3,131 and the price is now consolidating gains. It already tested

The U.S. Secret Service has seized cryptocurrency worth more than $102 million in 254 fraud-related investigations. “What criminals want to do is sort of muddy the waters and make efforts to obfuscate their activities,” said the assistant director of the Secret Service’s Office of Investigations. “What we want to do is to track that as quickly as we can, aggressively as we can, in a linear fashion.” US Secret Service Seizes Cryptocurrency Worth $102 Million A senior executive with the U.S. Secret Service, David M. Smith, talked about cryptocurrency in an interview with CNBC, published Tuesday. Smith is a senior executive and special agent currently serving as the 28th Assistant Director of the U.S. Secret Service Office of Investigations, where he leads the agency’s global investigative mission, comprising 161 offices and over 3,000 employees. The Secret Service is responsible for detecting, investigating, and arresting any person who violates certain laws related to financial sys

A U.S. lawmaker has urged the Biden administration to develop a “robust strategy” to prevent cryptocurrency from being used to evade sanctions. “Emerging technologies like cryptocurrency offer many positive applications like humanitarian relief, but the administration has not kept pace in ensuring this novel form of currency is not used to the detriment of U.S. national security,” he said. Congressman McCaul Wants a ‘Robust Strategy’ to Prevent Crypto Use to Evade Sanctions A senior member of the House Foreign Affairs Committee, U.S. Representative Michael McCaul (R-TX), has made a number of efforts to prevent cryptocurrency’s use to evade U.S. sanctions. He issued a statement Thursday urging the Biden Administration to create a “robust strategy” to stop crypto from being used to circumvent sanctions. “Emerging technologies like cryptocurrency offer many positive applications like humanitarian relief, but the administration has not kept pace in ensuring this novel form of currency

The National Securities Commission (CNV), which is the Argentinian securities watchdog, recently launched an innovation hub with the goal of advancing conversations about cryptocurrency and fintech investments. This organization will serve as a link between private entities and the institution, to advance new fintech and crypto-regulated instruments to the market. Argentinian Securities Regulator Assigns Fintech And Crypto Special Importance The National Securities Commission (CNV), the Argentinian Securities regulator, is reportedly taking action to streamline the arrival of new fintech and crypto-based investment instruments to the market. The institution recently launched an innovation hub that will link private investors with regulators, to exchange information about the requirements these products must meet to be released to market. Andres Consentino, president of the CNV, was optimistic about the future of this initiative. He stated : We are being proactive in the context

Ethereum started a fresh decline from the $3,080 resistance against the US Dollar. ETH price traded below the key $3,000 support and even declined below $2,920. Ethereum failed to clear $3,080 and started a fresh decline. The price is now trading below $3,000 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $3,030 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover, but upsides might be capped near the $2,950 level. Ethereum Price Breaks Key Support Ethereum attempted a fresh increase above the $3,050 level and the 100 hourly simple moving average. However, ETH failed to gain strength above the $3,080 level. A high was formed near $3,082 and the price started a fresh decline. There was a clear move below the $3,050 support level and the 100 hourly simple moving average. Besides, there was a break below a key rising channel with support near $3,030 on the hourly chart of ETH/USD. The pair traded b

Bitcoin is still struggling below $41,500 against the US Dollar. BTC remains at a risk of more downsides below the $39,000 support zone. Bitcoin is showing bearish signs below the $40,500 and $41,500. The price is now trading below $40,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $40,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline if there is a clear move below the $39,000 support zone. Bitcoin Price Resumes Decline Bitcoin price remained below the key $41,500 resistance zone. BTC seems to be trading in a range above the $39,000 level and below the $41,500 resistance zone. The last swing low was formed near $39,600 before the price started an upside correction. There was a move above the $40,000 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $41,548 swing high to $39,600 low. However, the price faced a strong

Another spicy week of crypto news heads into the weekend, with Mexico’s third-richest billionaire advising “save your skin” from hyperinflation by buying bitcoin, Shark Tank star Kevin O’Leary predicting that bitcoin mining will “save the world,” Bitcoin.com News noting eerie similarities between the current great monetary shift and the creation of the U.S. Federal Reserve, and SHIB achieving some notable burn statistics. Without further ado, this is your bite-sized digest of the week’s hottest crypto news, the Bitcoin.com News Week in Review. Buy Bitcoin, ‘Save Your Skin’ — Mexico’s Third Richest Billionaire The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has shared his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are “going exactly the same route” his country went through in the 1980s. He warned: “The bad news is that the U.S., and Japan, and the U.K., and the euroblock — they are going exactly the sam