BITCOIN

Several U.S. lawmakers have objected to the Federal Reserve’s stablecoin regulatory guidelines, which they believe “will undoubtedly deter financial institutions from participating in the digital asset ecosystem.” According to the lawmakers, “ The Fed has chosen to effectively prevent banks from issuing payments stablecoins — or engaging in the payment stablecoin ecosystem.” Fed’s Efforts ‘Subvert Progress Made by Congress’ Three U.S. representatives sent a letter to Federal Reserve Chairman Jerome Powell regarding stablecoin regulation last week. The letter, dated Aug. 23, was signed by Patrick McHenry (R-NC), chairman of the House Financial Services Committee; French Hill (R-AR), chairman of the Subcommittee on Digital Assets, Financial Technology and Inclusion; and Bill Huizenga (R-MI), chairman of the Subcommittee on Oversight and Investigations. Congressman Hill stated Monday on the social media platform X: I sent a letter alongside Rep. Patrick McHenry and Rep. Bill Huizeng...

In 2023, multiple dormant bitcoin transactions caught the public’s attention and made headlines. Sunday night marks another significant event after a ‘sleeping bitcoin’ whale from 2017 stirred, spending an impressive 1,177.89 BTC — worth more than $30 million — from seven distinct bitcoin addresses, untouched for just over six years. 1,177 Bitcoin From 2017 Move for the First Time in Over 6 Years As bitcoin (BTC) dances around the $26K mark, several once-dormant bitcoin wallets are springing to life after years of inactivity. On Sunday, during block heights 805,096 and 805,100, about seven distinct BTC addresses roused from a six-year hibernation. These addresses trace back to July 30 and 31, 2017; six emerged on July’s final day, while one originated on the 30th. Btcparser.com flagged all seven transactions, with the first spend emerging from the address “ 1HjQx .” This once-silent wallet transacted 200 BTC , and in that same block, “ 1LBpE ” mirrored the move, transferring an...

Bitcoin hovered below $26,000 on Monday, as traders awaited a big week of economic announcements in the United States. The consumer confidence report will be released on Tuesday, with gross domestic product and nonfarm payrolls coming in the upcoming days. Ethereum was largely unchanged today. Bitcoin Bitcoin started the week hovering around the $26,000 region, as markets prepared for a big week of economic data. Following a high of $26,406.15 on Sunday, BTC /USD dropped to an intraday low of $25,914.93 earlier in today’s session. The world’s largest cryptocurrency has mostly consolidated around this level for the past ten days, since surging above $30,000 earlier in the month. Bitcoin chart by TradingView Since then a huge red wave has swept through the market, with BTC falling to a two-month low just over a week ago. Prices have continued to trend sideways as the 14-day relative strength index (RSI) has failed to break out of a resistance level of 30.00. As of writin...