Tesla CEO and Twitter boss Elon Musk has warned of a severe recession in the U.S. The billionaire stressed that the Federal Reserve needs to cut interest rates “immediately,” emphasizing that the Fed is “massively amplifying the probability of a severe recession.” Elon Musk Warns About Severe Recession Tesla CEO and Twitter chief Elon Musk
The total cryptocurrency market capitalization gained 2% in the past seven days, reaching $850 billion. Even with the positive movement and the ascending channel that was initiated on Nov. 20, the overall sentiment remains bearish and year-to-date losses amount to 63.5%. Bitcoin (BTC) price also gained a mere 2% on the week, but investors have
Bitcoin (BTC) briefly returned to $17,000 into Nov. 30 as monthly close volatility loomed. Trader: $17,500 monthly close “most bullish outcome” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following traders’ predictions to sweep higher levels before consolidating. Highs of $17,072 appeared on Bitstamp, with the pair nonetheless unable to flip the highs to
The Ethereum price has finally been able to break above the $1,233 resistance mark. Over the last 24 hours, the coin has registered substantial gains. With the price moving above the $1,233 resistance level, Ethereum price has pictured a positive short-term bullish thesis on its one-day chart. Technical outlook also agreed with the same and
Fantom (FTM) continued its upward momentum on Nov. 30 amid reports that the Fantom Foundation generates consistent profits and has 30 years of runway without having to sell any FTM tokens. Fantom’s FTM holdings up from 3% to 14% FTM price gained nearly 13.5% to reach $0.24, its highest level in three weeks. The rally
From the Cointelegraph archives, John McAfee tells his crypto story and takes a look back at his very fascinating life. Early in his life, the computer programmer landed a job at the United States National Aeronautics and Space Administration, also known as NASA, and worked on the world’s first weather satellite. There, he learned about
On Nov. 30, Guy Zyskind, CEO of privacy smart contract blockchain Secret Network, said that developers had patched a privacy-related vulnerability and users’ funds remain secure. In a document dated Nov. 29, Secret Network wrote that users or developers required no action and that all active nodes were upgraded to correct the exploit on Nov.
Singapore government-owned investment firm Temasek has suffered a lot more than just financial losses due to investing in FTX, according to Deputy Prime Minister Lawrence Wong. Wong, who is also the finance minister, believes that Temasek’s $275 million investment in FTX has caused significant damage to the company’s reputation. The official addressed the growing criticism
The Ethereum price is up 4.3% in the last 24 hours, following the general market sentiment of the crypto market. In anticipation of today’s speech by US Federal Reserve chairman Jerome Powell at the Brookings Institution, crypto bulls seem to be anticipating possible dovish comments. At press time, Ether (ETH) was trading at $1,265, with
Bitcoin (BTC) bulls were hopeful that the Nov. 21 dip to $15,500 would mark the cycle bottom, but BTC has not been able to produce a daily close above $17,600 for the past 18 days. Traders are clearly uncomfortable with the current price action, and the confirmation of BlockFi’s demise on Nov. 28 was not
On this week’s The Market Report show, Cointelegraph’s resident experts discuss the possibility of a $12,000–$14,000 Bitcoin (BTC) price and what that would mean for the rest of the crypto space. We start off this week’s show with the latest news in the markets: New BTC miner capitulation? 5 things to know in Bitcoin this
Amid the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon, South Korean authorities have spread out their investigations to target other Terra executives. Prosecutors issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors of the firm following suspicion of gaining illegal profits before the massive collapse of the Terra
Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its potential civil liability and invest an additional $100,000 in certain sanctions compliance controls. Kraken Settles With OFAC The
Bitcoin (BTC) held crucial $16,000 support into Nov. 29 as bulls weathered ongoing FTX fallout and macro triggers. Trader teases BTC long as $16,500 reappears Data from Cointelegraph Markets Pro and TradingView confirmed BTC/USD leaving lower levels untouched overnight. The pair had seen a flash downturn after the Nov. 27 weekly close thanks to uncertainty
Hackers who drained FTX and FTX USA of over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continue to move assets around in an attempt to launder the money. A crypto analyst who goes by ZachXBT on Twitter alleged that the FTX hackers have transferred
Ether (ETH) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors’ sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28. Newsflow remained negative after the United States
Ron Wyden, chair for the United States Senate Finance Committee, has requested information from six crypto firms on consumer protection following FTX’s liquidity issues and bankruptcy. In separate letters dated on Nov. 28, Wyden targeted Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin, requesting information on what protections the exchanges had in place if a failure
Bitcoin (BTC) hodlers have capitulated more than at almost any point in Bitcoin’s history this month. Data from on-chain analytics firm Glassnode confirms that the November 2022 BTC sell-off was the fourth-largest ever. Bitcoin investors see multi-billion-dollar losses In the latest edition of its weekly newsletter, “The Week On-Chain,” Glassnode got to grips with the impact
The bear market has inspired the little guy to accumulate vast amounts of Bitcoin (BTC). The number of wallets holding 1 BTC or more recently hit new highs while those with 10 BTC or less are setting accumulation records. However, to what extent are these newly minted “wholecoiners” taking custody of their private keys? Has the
Maybe it’s the language barrier, or the walls authorities have set up to prevent money from leaving the country. But whatever it is, South Korea has built its own unique corner of the cryptoverse that’s unlike anywhere else on the planet. Doo Wan Nam, a MakerDAO delegate who co-founded the research and advisory firm StableNode,