Day: May 20, 2021

Fitness Guru Jillian Michaels Backs Cardano, Dogecoin

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Key Takeaways Celebrity fitness trainer Jillian Michaels disclosed her cryptocurrency investment on Twitter today. Michaels says that she holds $500,000 of Cardano (ADA) and $10,000 worth of Dogecoin (DOGE). Celebrity endorsements of cryptocurrency are on the rise. Share this article Celebrity fitness trainer and TV personality Jillian Michaels revealed her cryptocurrency investment via Twitter today. Michaels Holds Over $500,000 of Crypto Michaels mentioned that she holds $10,000 worth of DOGE and has staked $500,000 worth of ADA on the Cardano blockchain. I don’t hate doge – I threw 10k at…

Two Paths Of A Bitcoin Bull Run, And If A Bear Phase Is Next

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Bitcoin price has plummeted more than 50% from recent highs, falling to as low as $30,000 in a matter of a flash. The selloff was enough to shock the entire market, causing the most liquidations and coins to be deposited since Black Thursday. There’s now talk of the bull run being over, however, there’s potentially two different paths that the cryptocurrency could take according to the RSI and past bull market performance. Is The Top Of The Crypto Bull Run In? After more than one full year of an uptrend,…

Judge Allows SEC to Seek Info on Ripple’s Overseas XRP Transactions

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Key Takeaways Judge Sarah Netburn has rejected Ripple’s motion to dismiss the SEC’s requests with foreign regulators over XRP transactions.  Previously, the SEC had made requests to various foreign regulators to acquire information about Ripple’s overseas XRP transactions. The judge further ruled that the SEC must provide Ripple with copies of the requests it previously sent to maintain transparency. Share this article In an ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and blockchain payments firm Ripple, the former has landed a small victory. The lawsuit concerns…

Treasury Calls for $10K Bitcoin Transfers to be Disclosed to IRS

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Share this article The U.S. Treasury is proposing tough ruling on cryptocurrencies, citing tax evasion risks.  U.S. Treasury’s Crypto Clampdown The U.S. Treasury Department is taking aim at cryptocurrencies.  In a report on tax-enforcement proposals posted Thursday, the government body said that it wants cryptocurrency transactions worth $10,000 or more to be reported to the Inland Revenue Service. The Treasury’s update claimed that there are tax evasion risks associated with digital assets. The statement read:  “Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion.” …

Problems Abide on BSC as Bunny Finance Suffers Attack

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Key Takeaways An attacker has targeted Bunny Finance using a flash loan to manipulate the price of BUNNY. After they sold the tokens, the price crashed 96%. The team says it is working on a reimbursement plan for holders affected. Incidents on Binance Smart Chain have multiplied in recent weeks, while users have expressed concern with the overall health of the network. Share this article An attacker used a flash loan to exploit the Binance Smart Chain yield aggregator Bunny Finance earlier this morning. They dumped BUNNY tokens on the…

Red Bull Racing Team to Use Tezos for First NFT Drop

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Share this article The Formula One team has selected Tezos for its first NFT release. Red Bull Racing Team Eyes Tezos  Red Bull’s Formula One racing team is partnering with Tezos, it was announced Thursday.  Red Bull Racing Honda is joining with the smart contract platform to release a series of NFTs for fans. The Tezos blockchain specifically has been selected for its energy efficiency, according to a press release. Christian Horner, Red Bull Racing Honda Team Principal and CEO, said of the update:  “Tezos’ ability to remain at the…

Ethereum Down 40% In A Week, Here’s Why ETH Could Recover

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Ethereum declined heavily and it even tested the $2,000 support zone against the US Dollar. ETH price is attempting a recovery and it must clear $2,800 for a steady rise. Ethereum is down over 40% in a week and it even tested the $2,000 support zone. The price is now well below the $3,000 level and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $2,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $2,650 and $2,800…

Here’s What Could Trigger A Bullish Reversal Above $40K

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Bitcoin price was dumped yesterday by over 20% against the US Dollar. BTC is recovering from $30K and it might attempt a bullish reversal above $40K. Bitcoin tumbled below the $40,000 and $35,000 support levels. The price is now trading well below $42,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $39,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a strong bullish move if there is a break above…