Let’s dive into the world of cryptocurrency! It looks like Bitcoin (BTC) and Ethereum (ETH), the most popular coins, didn’t see much movement today, staying in the $27,000 and $1,800 range, respectively. However, the news wasn’t great for other popular altcoins like Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL), which landed in the reds across the board. And to add insult to injury, Bitcoin SV (BSV), which was the biggest gainer yesterday, turned out to be the biggest loser today with a 24-hour dip of over 13 percent.
But wait, there’s a glimmer of hope! KAVA emerged as the biggest gainer of the lot, with a 24-hour gain of over 8 percent. Will it continue its upward trend? We’ll have to wait and see.
Now, let’s talk about the global market cap. It currently stands at $1.14 trillion, which is pretty impressive, right? Unfortunately, it registered a 24-hour dip of 0.59 percent. But hey, a trillion dollars is still nothing to sneeze at. We’ll keep an eye out to see if it bounces back or continues to decline.
So, there you have it — the latest update on the exciting world of cryptocurrency. Stay tuned for more updates and developments
Latest News
How Coinbase’s ‘Pepe Ban’ Sparked Outrage and a Crypto Community Backlash
Coinbase, a leading cryptocurrency exchange, recently sent an email to its customers labeling the Pepe meme as a “hate symbol” co-opted by alt-right groups. The Pepe community, including fans and holders of the Pepe memecoin, expressed outrage and called for an apology from Coinbase. Many users started deleting their accounts, and a hashtag #deletecoinbase trended on Twitter, with over 14,000 tweets in just two hours. While Coinbase has not indicated whether it plans to list the Pepe token on its exchange, Gemini has listed the memecoin for trading with a more open-ended description of the new token. The price of Pepe fell by 2.6% after Coinbase’s email circulated on Twitter.
Digital Currency in Texas Bill of Rights: Shaping Future of Money
The Texas House has recently voted to add the right to use digital currency as a medium of exchange to the Texas Bill of Rights. The amendment aims to protect people’s right to own and use any form of money or currency without government restrictions or encumbrances, including digital currency, cash, bullion, coin, or scrip for trading and contracting goods and services. The bill now needs one more vote in the House before going to the Senate and being voted on by the people.
Tierion CEO Claims Democrats are Plotting to Destroy Crypto and Bitcoin
Wayne Vaughan, CEO of Tierion, claims that Democrats in the US are trying to destroy crypto and Bitcoin. Recently, a memo was circulated among Democrat Committee Members regarding the position of the United States House Committee on Financial Services regarding cryptocurrencies. The memo highlighted key messages, including that all cryptocurrencies are securities and the House Committee supports the SEC in regulating crypto. The memo also addressed Republicans proposing a budget cut for the CFTC in the crypto space, stating they are not serious about protecting investors and consumers.
IRS Demands $44 Billion from FTX Bankruptcy: What It Means for Crypto?
The IRS has filed claims worth almost $44 billion against the estate of bankrupt cryptocurrency exchange FTX and its affiliated entities. The claims were filed against 45 FTX companies, including West Realm Shires, Ledger Holdings, and Blockfolio, and include unpaid taxes, penalties, and interest owed by FTX and its affiliated entities. FTX had filed for bankruptcy in March 2022 after facing a series of lawsuits and investigations.
How the UAE Royal Group Took a Bold Bet on Crypto, Shorting Billions in US Stocks?
The Emirates Royal Group has taken billions of dollars in short positions in US stocks, fearing an upcoming recession will impact markets. The investment firm shifted its portfolio toward short-term Treasuries and ramped up investments in commodities and cryptocurrencies. It’s unclear which stocks or sectors the firm was shorting. The Royal Group plans to increase its exposure to the US once valuations improve and the Federal Reserve indicates it’s preparing to cut interest rates.