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Overview of Recent Bitcoin Price Movement

• Bitcoin reached its highest level in months on Wednesday, reaching $28,889.
• After the announcement of a rate rise by the US Federal Reserve, Bitcoin dropped near $27,000 on Tuesday morning.
• As a result of the CFTC lawsuit against Binance and its founder Changpeng Zhao, Bitcoin fell below $27,000 with Ethereum (ETH) following closely behind.

CFTC Lawsuit Against Binance

The Commodity Futures Trading Commission (CFTC) has filed a complaint against Binance and its CEO for operating an illegal exchange and a fake compliance program. This news has caused uncertainty in the cryptocurrency market as investors worry that this would lead to more scrutiny from regulators which could negatively impact the growth of cryptocurrencies.

Impact on Bitcoin and Ethereum Prices

As a result of the CFTC lawsuit announcement, Bitcoin dropped by more than 3%, from roughly $28,889 to around $27,000. Meanwhile Ethereum (ETH) also decreased by approximately 3% and is now trading at around $1,712.76.

MicroStrategy’s Investment in Bitcoin

Billionaire Michael Saylor recently invested $150 million in Bitcoin which sparked discussion about institutional confidence in crypto markets and their potential for long-term investments. This is seen as potentially positive for cryptocurrencies such as BTC and ETH as it brings attention to them as legitimate investments which could drive up their prices over time if these investments are successful.

Prediction

It is uncertain whether or not the CFTC lawsuit will have any long-term impact on cryptocurrency prices but it seems likely that they will eventually bounce back given the growing institutional interest in them due to large investments made by companies such as MicroStrategy. Therefore it is possible that both BTC and ETH may retest their triple bottom at around $26,650 before returning to their previous levels or even higher depending on investor sentiment towards cryptocurrencies going forward.

• A Spanish lawmaker, Teodoro García Egea, is leaving politics to become a Bitcoin (BTC), altcoins, and blockchain guru.
• He announced plans for publication of a book named „Cryptoeconomics: Beyond Bitcoin – Opportunities in the New Financial System“.
• He will focus on helping adoption efforts for BTC and other tokens.

Spanish Lawmaker Leaves Politics to Become Bitcoin Guru

A Spanish lawmaker has decided to turn his back on parliament and his political career and instead focus on helping adoption efforts for Bitcoin (BTC) and other tokens. Teodoro García Egea, former General Secretary of the Popular Party, told journalists that he would be leaving politics at a press conference and publishing a book titled „Cryptoeconomics: Beyond Bitcoin – Opportunities in the New Financial System.“

García Egea’s Political Career

García Egea was first elected to parliament in Murcia in January 2012. Last July, he was appointed Chairman of the lower chamber’s Road Safety Commission. In recent months he had distanced himself from political life, only attending parliament when strictly necessary to take part in votes. He said that he would continue to be a member of the Popular Party but would „be available to Spanish citizens“ in a private capacity.

Book Focuses on BTC & Blockchain Technology

The book focuses on BTC as well as other tokens and blockchain technology. According to its publisher, it also looks at “the development of decentralized finance and Web3 constitute unprecedented tools”. The aim is to increase crypto awareness which has risen up 76% in Spain amongst citizens as well as increasing interest from the real estate sector into crypto-powered transactions.

Why Has García Egea Turned His Back On Politics?

García Egea did not explicitly state why he was turning away from politics apart from saying that he wanted “to dedicate himself fully to private activity focused on cryptocurrencies – his area of expertise”. It may be possible that with the rise of digital assets across Europe over recent years it made sense for him transition into this space rather than remain entrenched within traditional politics which has been slow act upon cryptocurrency matters such as regulation legislation etc…

Conclusion

In conclusion García Egea has decided it is best for him professionally if he turns his back on politics and instead focuses upon cryptocurrency related activities such as education through his upcoming book launch as well helping raise awareness around digital assets amongst both citizens of Spain as well businesses looking at incorporating them within their services or products offerings.

• Shiba Inu (SHIB) has risen by 4% in the past 24 hours, while still being down 1.5% in a week and 15% in the last 30 days.
• The launch of the Shibarium layer-two network is expected to further boost SHIB’s price, with it currently eyeing an $0.00001250 level before the month’s end.
• Fears of a banking crisis have encouraged investors to turn to crypto, which could lead to further rallies for SHIB.

Shiba Inu Price Spikes Up 4%

The price of Shiba Inu has risen by 4% in the past 24 hours as the cryptocurrency market recovers from weekend’s selloff and benefits from fears over banking system. At $0.00001099, SHIB remains down by 1.5% in a week and by 15% in the last 30 days, although the meme token has risen by 35% since beginning of year.

Shibarium Layer-Two Network Launch

SHIB continues to be one of most traded ERC-20 tokens in market according to latest data from WhaleStats, while also accounting for biggest holdings (in dollar terms) among large investors. And with Shiba Inu still awaiting launch of Shibarium layer-two network, there are plenty reasons to suspect that further rallies are incoming especially if apparent banking crisis ends up encouraging investors turn to crypto.

Indicators Suggest Further Rallies

SHIB’s indicators suggest that its current rally could last for few more days, with its relative strength index (purple) jumping from 30 to just over 40. That RSI has risen from an oversold position suggests that today’s rally may continue throughout this week, suspicion supported by fact that SHIB’s price is yet rise above its 30-day moving average (red). It’s likely that if SHIB can break through $0.000015 resistance level it may rise even higher with coin eyeing $0.00001250 level had at beginning March .

Banking Crisis Encouraging Crypto Investment

There’s a good chance it could reach such level before month ends with banking crisis US (and elsewhere world) pushing people towards cryptocurrency market Indeed this short-term trigger today’s SHIB rally as well as market wide rally largely responsible boosting SHIB’s price With number banks already failing e g Silvergate SVB Signature and several seeing massive stock price declines e g Credit Suisse it seems some people are looking for somewhere else put their money besides bank

Conclusion

While Federal Reserve and other bodies have stepped calm nerves hard say whether situation will stabilize immediately something which could play hands SHIB and other cryptocurrencies At same time SHIB is also likely benefit arrival Shi too adding more reason suspect new rally starting within next few weeks

•Scott Shapiro, Senior Director of Product Management at Coinbase, talks about current trends in advanced crypto trading, options trading in crypto and his experiences from working at Facebook and Google.
•He discusses how Advanced Trade on Coinbase is different from other advanced trading platforms as well as the features of Coinbase Advanced Trade.
•Shapiro also shares stories from his time at Facebook and Google.

About Scott Shapiro

Scott Shapiro is the Senior Director of Product Management at Coinbase, where he leads a team that builds Coinbase’s trading products for consumers. Crypto has been a passion since he first discovered bitcoin in 2013. This drove him to leave almost a decade of building advertising products at Facebook and Google to join Coinbase in 2019.

Highlights Of The Interview

Scott Shapiro gave a wide-ranging exclusive interview which you can use for publication provided there is a credit to www.cryptonews.com. He discussed:

• How Advanced Trade on Coinbase is different from other advanced trading platforms
• Current trends in advanced crypto trading
• Options trading in crypto
• Coinbase Advanced trade features
• Stories from working at FaceBook and Google

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Life In Utah And All Star Weekend

Scott Shapiro lives in beautiful Utah, one of the best snow capitals of the world that recently hosted All Star Weekend for the NBA – which used to be the best-on-best defense but now it’s just throwing threes everywhere on the court and doing some crazy dunks. He loves living in Utah because of its mountains and ease of getting around relatively quickly compared to big cities like San Francisco or New York City.

Advanced Trade On Coinbase Compared To Other Trading Platforms

Shapiro discussed how Advanced Trade on Coinbase differs from other advanced trading platforms – it allows users to move between their spot wallets and margin accounts quickly while providing an enhanced level of security with two factor authentication (2FA). Additionally, it provides both limit order types (which are orders placed above or below market prices) as well as market order types (which are executed immediately).

Current Trends In Crypto Trading And Options Trading In Crypto

Shapiro believes that current trends in crypto trading focus mainly on derivatives such as options contracts due to their flexibility when hedging against price fluctuations or taking advantage of arbitrage opportunities across multiple exchanges. Options contracts are becoming increasingly popular within the space due to its ability to provide leverage without having to actually own any underlying asset—a feature highly sought after by traders who want more control over their investments without having too much risk exposure associated with them..

Stories From Working At Facebook And Google Finally, Scott shared some stories from his time at Facebook and Google — highlighting how these tech giants operate differently than smaller companies like Coinbase when it comes to product development cycles and user testing processes.,

• February has not been a good month for STEPN’s main crypto token GMT, which is down about 30%.
• Bulls hope that a broader crypto market rally may bring some buy pressure back to the leading move-to-earn cryptocurrency.
• STEPN’s GMT token is up 38x since its ICO in March 2022 at $0.01.

STEPN Price Prediction

February hasn’t been a good month for GMT, the main crypto token that powers STEPN’s popular move-to-earn (M2E) platform. The price of GMT was last changing hands in the $0.38 area, down about 30% this month, despite major cryptocurrencies Bitcoin and Ether both trading with monthly gains of 1-3% and total crypto market capitalization up around 2.5%. In fairness, GMT’s 30% decline this month looks less bad when taken in the context of the near-150% rally the cryptocurrency enjoyed in January.

Price Prediction – Where Next For STEPN (GMT)?

Since late January, GMT has been forming a bearish flag structure. If it is to break above this bearish flat structure, it has a number of key resistance levels to overcome including 100 and 21-Day Moving Averages as well as 50 and 200-Day Moving Averages which straddle the important support-turned-resistance $0.49 area. Bearish flag patterns often form during a bull market consolidation phase so bulls will be hoping that broadening crypto market rally can pick up once again in March and bring some buy pressure back to the leading move-to-earn cryptocurrency..

STEPN (GMT) Alternative To Consider

According to ICODrops.com, STEPN’s GMT token is up 38x since its ICO in March 2022 at $0.01 due to building one of the most popular existing move-to-earn platforms currently out there.. However, it requires hefty initial investment in trainer NFTs before users are able to start earning for moving while users aren’t rewarded for all forms of activity only measurable movement counts towards rewards on the platform..

Macro Headwinds

Macro headwinds such as fresh stronger than expected US data could continue to cap upside if markets continue to price in more aggressive Fed tightening schedule for 2023.. This could limit any potential bullish breakout from current bearish flag pattern if it occurs..

Conclusion

For now bulls should remain cautious until macroeconomic conditions become clearer and any potential bullish breakout from current bearish flag pattern can be determined with more certainty..

Coinbase Revenue to Drop 75%

• Wall Street analysts expect Coinbase’s revenue to drop by more than 75% in the fourth quarter of 2022 compared to the same period in 2021.
• The exchange is estimated to post a loss of $568.1 million for the quarter and its total assets are expected to come in at $88.8 billion, the lowest amount in more than two years.
• Analysts for JPMorgan and D.A. Davidson have downgraded Coinbase’s stock from Buy to Neutral due to mounting regulatory pressure and dwindling user trust in centralized crypto platforms.

Impact of Regulatory Clampdown on Coinbase

The steep decline in Coinbase’s revenue for the last quarter of 2022 can be attributed mainly to plummeting crypto prices as well as waning user trust in centralized crypto exchanges following the collapse of FTX, once the third-largest exchange globally. In response, analysts from JPMorgan and D.A. Davidson have downgraded Coinbase’s stock from Buy to Neutral, citing regulatory pressure as their main concern that could further impact their earnings moving forward. Furthermore, S&P Global had previously downgraded the platform’s debt one position from “BBB” to “BB-” earlier this year, making it classified as “speculative grade” instead of “investment grade”.

Coinbase Stock Performance

Amid a rebound in crypto prices, shares of Coinbase rallied early 2023; up 82.55% year-to-date since it started trading publicly on April 14th 2021 . However, over the past year, its stock has lost around two-thirds of its value despite record high trading volumes that surged over 600% between 2020 and 2021 respectively .

Revenue Sources for Coinbase

Wall Street analysts predict that Coinbase will bring in a total of $235.4 million from subscriptions and services – accounting for 40% of its total revenue – which was less than 10% during the same quarter last year . Nevertheless , other sources such as custody fees , stablecoins , staking rewards , and merchant transactions are still expected to generate significant amounts of income for the company moving forward .

Conclusion

In conclusion , while clear regulation is beneficial for both Coinbase and other exchanges alike , regulatory clampdowns could negatively affect their earnings moving forward . Despite seeing an uptick recently , Coinbas e ‚ s stock has dropped significantly over the past year due backing away investors due t o uncertainties surrounding regulation s . Nonetheless , there are still plenty of opportunities available through various sources such as subscription services a nd transaction fees among others that could potentially help bolster their financial performance

• Bitcoin (BTC) rose back above the $22,000 mark, following the release of US Consumer Price Index (CPI) statistics.
• Ethereum, the second most valuable cryptocurrency, has also risen back above the $1,500 mark.
• The growing popularity of Ordinals NFTs protocol and the launch of DBS crypto exchange has contributed to Bitcoin’s current rally.

Bitcoin Prices Surge on Release of US CPI Data

The world’s largest cryptocurrency, Bitcoin (BTC), halted its downward rally and climbed beyond the $22,000 mark during New York trading after the release of US Consumer Price Index (CPI) statistics for January showed a lower-than-expected decline in inflation. Meanwhile, Ethereum, the second most valuable cryptocurrency, has also risen back above the $1,500 mark. According to Coinmarketcap statistics, the overall market value of all cryptocurrencies is now $1.03 trillion, up 2.12% on the day.

Easing Regulations & Growing Popularity of NFTs Driving Crypto Rally

The increase in cryptocurrency prices followed by an easing of concerns over cryptocurrency regulations have been major factors in supporting the crypto industry which resulted in long-term investors continuing to hold BTC as evidenced by its ongoing price gains. Additionally, growing popularity of Ordinals NFTs protocol which enables integration with non fungible tokens with Bitcoin is driving increased activity on its network while DBS crypto exchange now facilitates trading in Bitcoin along with other cryptocurrencies like Ether, XRP and so on which further contributes to BTC’s rising prices .

What Does This Mean For Crypto Investors?

This news is likely to be seen positively by those who are bullish about cryptocurrencies as it shows that there is still a large investor base that continues to hold their BTC despite recent falls in value due to regulatory issues and market volatility. The launch of DBS crypto exchange for retail traders will likely see more institutional investors entering into this space thus further pushing up prices for these assets even higher .

Risk-On Crypto Market Outlook

Going forward one should expect greater volatility in this asset class coupled with some upside potential depending on how well new technologies such as Ordinals NFTs protocol are received by market participants and whether further regulation changes take place that would make investing easier for retail investors .

Conclusion

Overall this news is positive for those invested or interested in cryptocurrencies as it shows that there is still strong demand from buyers despite some negative press recently surrounding cryptos . Long term investors should continue to keep an eye out for any new developments or regulations that could affect their investments moving forward but should remain confident that prices will continue rising if current trends continue .

• Lido, a decentralized finance (DeFi) protocol, presented the proposal for Lido V2 upgrade which will bring in withdrawals and staking router.
• BANXA Holdings integrated with MetaMask to enable users to purchase crypto through Interac.
• Ramp announced off-ramp product to let businesses offer their customers a way to sell crypto. StarkWare partnered with Chainlink Labs as well.

Lido V2 Upgrade

Technical contributors to Lido, a decentralized finance (DeFi) protocol and a third-party staking pool operator for Ethereum (ETH) 2.0, today presented the proposal for Lido V2 – Lido protocol’s largest „upgrade to date and a step change on the road toward further decentralization,“ said the press release. The two major focal points of this upgrade are:

• Staking Router: thanks to a new modular architectural design, anyone can develop on-ramps for new Node Operators, ranging from solo stakers, to decentralized autonomous organizations (DAOs) and Distributed Validator Technology (DVT) clusters.
• Withdrawals: the upgrade will allow stETH holders to withdraw from Lido at a 1:1 ratio, „realizing a key milestone of a truly open on / off ramping into the Ethereum staking ecosystem,“ they said.

BANXA Holdings Integration with MetaMask

A Web3 on-and-off ramp solution BANXA Holdings announced an integration with major blockchain technology ConsenSys‘ self-custodial wallet MetaMask to simplify on-and-off ramping fiat to crypto, said a press release. On top of global users being able to purchase crypto via standard methods such as credit cards and Apple Pay, this partnership will now allow MetaMask users in Canada to purchase crypto through interbank network Interac, while MetaMask users in the Netherlands, Australia, South Africa, and Turkey will gain new access to Banxa’s crypto on-ramps through local banking infrastructure, it added.

Ramp Off Ramp Product

Financial technology company Ramp announced the global availability of off-ramp, a software product enabling businesses to offer their customers a way

• Rally, a social token platform, has announced the closure of its sidechain operations due to lack of funding.
• Tokens on the Rally sidechain are not transferable to mainnet, meaning users will not have access to their crypto assets and NFTs once the site shuts down.
• This closure is due to the challenging year of 2022 that the entire crypto industry has experienced, owing to the fallout of Terra’s decentralized stablecoin UST.

Rally, a social token platform that allowed creators, media personalities, bands, and esports teams to launch social tokens to monetize their work, has announced that it will be closing its sidechain operations. This closure, which is due to a lack of funding, will mean that users will no longer be able to access their crypto assets and NFTs on the Rally sidechain.

The announcement was made in an email sent out on January 31, in which the company warned users that they may experience a degradation in services or it may become inoperable after that day. The project mentioned that the token assets are not transferable to the mainnet, meaning that users will not have access to their crypto tokens and NFTs once the site shuts down.

Rally’s closure is due to the challenging year of 2022 that the entire crypto industry has experienced. This includes the fallout of Terra’s decentralized stablecoin UST, which prompted a series of bankruptcies, including the implosion of major crypto lenders like Celisius and BlockFi, and even the collapse of cryptocurrency exchange FTX.

Rally’s closure is a troubling sign for the industry, as it highlights the difficulties that many projects are facing in the current environment. It is a reminder that projects need to be well-funded and have access to proper capital in order to remain afloat. It is also a reminder of the importance of diversifying investments, as relying solely on the crypto market can be a risky proposition.

For now, Rally’s closure serves as a cautionary tale for the industry, and a reminder of the need to be well-funded and diversified in order to remain in the market.

• Binance, a major crypto exchange, has admitted to mistakenly mixing customer funds with collateral for Binance-issued tokens.
• This was found by Jonathan Reiter, who noticed excessive over-collateralization of some B-Tokens and Binance’s use of the Binance 8 wallet.
• A Binance spokesperson has said that assets held with the exchange have been and continue to be backed 1:1 and that Binance is in the process of transferring these assets to dedicated collateral wallets.

Binance, the leading crypto exchange, has recently admitted to mistakenly mixing customer funds with collateral for Binance-issued tokens. This problem was first brought to light by Jonathan Reiter, the co-founder of DataFinnovation and ChainArgos, who noticed excessive over-collateralization of some B-Tokens and Binance’s use of the Binance 8 wallet. This was in direct violation of Binance’s own guidelines, which should have seen customer funds and exchange collateral stored in separate dedicated wallets.

As a result of this mistake, Binance released a proof-of-collateral report for B-Tokens – 94 tokens that are issued by Binance – which showed that reserves for nearly 50% of all these coins were stored in the Binance 8 wallet. Bloomberg calculated (based on Binance data from January 20) that Binance issued more than $539 million of the 41 B-Tokens that have Binance 8 as their collateral wallet, while the wallet itself only held $417 million in tokens.

A spokesperson for Binance has since come forward to address the issue, saying that Binance 8 is an exchange cold wallet and that collateral assets had previously been moved into this wallet in error. They also commented that assets held with the exchange “have been and continue to be backed 1:1” and that Binance is “in the process of transferring these assets to dedicated collateral wallets.”

Binance has taken the mistake very seriously, and is now working to ensure that customers’ funds are held in separate wallets. This is an important step in protecting customers’ funds and maintaining the trust that customers have placed in Binance. It also shows that the exchange is taking all necessary steps to ensure that customers’ funds are safe and secure at all times.