Former blockchain skeptic David Rubenstein discloses investments in crypto companies

Carlyle Group co-founder David Rubenstein acknowledged on Sept. 2 that he has invested personally in a number of crypto companies, and is optimistic about the industry’s path to regulation in the United States. Speaking with CNBC’S Squawk Box on Thursday, the billionaire said he believes that government regulation will be positive for the industry, and that the U.S. Congress will tak a collaborative approach to boost an innovation environment in the country. “The crypto constituency is very strong in congress [and] they tend to be very Republican [or] very libertarian,” he noted.…

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CFTC and SEC open comments for proposal to amend crypto reporting rules for large hedge funds

The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, have called for comments on a proposal which would require large advisers to certain hedge funds to report exposure to crypto. In a joint proposed rule published to the Federal Register on Sept. 1, the SEC and CFTC established a 40-day comment period for amendments to Form PF, the confidential reporting document for certain investment advisers to private funds of at least $500 million. The proposal suggested qualifying hedge funds report exposure to…

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The total crypto market cap continues to crumble as the dollar index hits a 20 year high

From a bearish perspective, there’s a fair probability that the crypto market entered a descending channel (or wedge) on Aug. 15 after it failed to break above the $1.2 trillion total market capitalization resistance. Even if the pattern isn’t yet clearly distinguishable, the last couple of weeks have not been positive. Total crypto market cap, USD billion. Source: TradingView For example, the $940 billion total market cap seen on Aug. 29 was the lowest in 43 days. The worsening conditions have been accompanied by a steep correction in traditional markets,…

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GMX Token Top Arbitrum Network, How Far Can It Go?

The price of the GMX token has shown so much strength despite the downtrend across the market, with the GMX token eyeing a rally to its all-time high of $60. Bitcoin’s (BTC) price has shown less steam compared to recent times, this has affected most crypto assets, but this can not be said of GMX token. (Data from Coinex) GMX Token (GMX) Price Analysis On The Daily Chart  GMX token price has shown so much strength creating a higher high after hitting a low of $13; the price bounced off…

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Michael Saylor got wrecked, but Bitcoin investors needn’t panic

As cryptocurrency investors know, the market moves in cycles. We had the up-cycle when Bitcoin (BTC) and Ether (ETH) hit their all-time highs, and now the bears are back in town. One of them mauled MicroStrategy founder and executive chairman Michael Saylor this week. In this case, it was a very powerful bear — Washington, D.C. Attorney General Karl Racine — suing the Bitcoin evangelist for allegedly owing $25 million in unpaid taxes. MicroStrategy’s stock price has fallen more than 13% on the news, from $251 on Aug. 29 to…

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Crypto users push back against dYdX promotion requiring face scan

Many users on social media have been lambasting decentralized exchange dYdX over the identification verification process to receive a sign up and deposit bonus of $25. In a Wednesday blog post, dYdX announced that new users who deposited 500 USD Coin (USDC) for their first transactions could receive a bonus promotion of 25 USDC, provided they were willing to do a “liveness check.” According to the exchange, the verification process accessed a user’s webcam and “compares if your image has been used with another account on dYdX.” Though the giveaway…

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Cardano gets listed on Robinhood but ADA bulls are running out of steam, risking 40% drop

Cardano (ADA) market has witnessed back-to-back pieces of good news since Aug. 31, from its listing on Robinhood, a U.S.-based retail investment platform, to the release of its first lending and borrowing protocol, Aada Finance. Additionally, Cardano developer IOHK stated that they are close to clinching “three critical mass indicators” that would lead to the launch of their long-awaited Vasil hard fork in September. Vasil aims to improve Cardano’s scalability and transaction throughput through pipelining. The upgrade could also improve the decentralized application (DApp) and smart contract capabilities by changing the Plutus script,…

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Former CFTC commissioner Jill Sommers joins FTX US Derivatives board

Jill Sommers, who served as a commissioner at the United States Commodity Futures Trading Commission, has joined the board of directors for FTX US Derivatives. In a Thursday announcement, crypto exchange FTX US’ derivatives arm said Sommers had become its latest board member in a seeming move to increase the company’s regulatory efforts. Sommers served as a CFTC commissioner from 2007 to 2013 under former Presidents Barack Obama and George W. Bush, and was the managing director of regulatory affairs for the Chicago Mercantile Exchange. According to Sommers, FTX US…

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The Good, The Bad, & The Ugly

In this episode of NewsBTC’s daily technical analysis videos, we are looking again at the Bitcoin BTCUSD monthly chart now that the August monthly candle has closed and we finally have new data to analyze. Take a look at the video below for the good, the bad, and the ugly. VIDEO: Bitcoin Price Analysis (BTCUSD): September 1, 2022 In yesterday’s video, we focused on the nail-biter of a monthly close we had last night, where bulls were just barely able to hold onto support. With a new monthly candle open, today’s video…

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IOG Says Cardano Vasil Hard Fork Is Almost Here, But What Is ADA Doing?

With each passing day, Cardano inches closer to one of its most important upgrades yet, the Vasil Hard Fork. IOG, the developer behind the Cardano network, had outlined three important milestones that the network needed to reach for the hard fork to be triggered. With the first of the three metrics already met at this time, the upgrade is closer than it has ever been, as confirmed by the developer. Nearing Cardano Hard Fork When the developer had previously confirmed that there were no longer any bugs in the Vasil…

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