Coinbase is fighting back as the SEC closes in on Tornado Cash

On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation to increase cryptocurrency regulations. But these two stories are not mutually exclusive. The sequence of events proves that governments are purely reactive rather than proactive when it comes to decentralized finance (DeFi). Tornado Cash was…

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Ethereum completes merge, Do Kwon faces arrest warrant and Bitcoin dives after rally: Hodler’s Digest, Sept. 11-17

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Breaking: Historic day for crypto as Ethereum Merge to proof-of-stake occurs Ethereum’s highly anticipated conversion to a proof-of-stake (PoS) consensus algorithm, dubbed “the Merge,” took place at 6:42:42 am UTC on Sept. 15. The move is a key part of an overarching multi-year transition…

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Here’s why Binance Chain (BNB) will face an important price test on September 30

BNB, the native token of Binance’s BNB Chain, entered a symmetrical triangle formation on Aug. 10, when it first faced the descending trendline at the $335 resistance. The following five weeks have been a struggle around $280, the exact intersection between the two conflicting ascending and descending patterns. BNB token/USD at FTX. Source: TradingView A decision on whether the symmetrical triangle will break to the upside or downside is expected by Sept. 30, when the trendlines cross. Currently holding a $45 billion total market capitalization, BNB Chain token has outperformed…

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Tired of losing money? Here are 2 reasons why retail investors always lose

A quick flick through Twitter, any social media investing club, or investing-themed Reddit will quickly allow one to find handfuls of traders who have vastly excelled throughout a month, semester, or even a year. Believe it or not, most successful traders cherry-pick periods or use different accounts simultaneously to ensure there’s always a winning position to display. On the other hand, millions of traders blow up their portfolios and turn out empty-handed, especially when using leverage. Take, for example, the United Kingdom’s Financial Conduct Authority (FCA) which requires that brokers…

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Golden cross vs. death cross explained

Compared to the golden cross, a death cross involves a downside MA crossover. This marks a definitive market downturn and typically occurs when the short-term MA trends down, crossing the long-term MA.  Simply put, it’s the exact opposite of the golden cross. A death cross is usually read as a bearish signal. The 50-day MA typically crosses below the 200-day MA, signaling a downtrend. Three phases mark a death cross. The first occurs during an uptrend when the short-term MA is still above the long-term MA. The second phase is…

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How to earn passive crypto income in a bear market?

The majority of new investors are in the middle of their first crypto winter, during which most digital assets have depreciated by more than 70% from their November 2021 highs. While a bear market is tough for everyone, it can be especially challenging for those who are new to the space and don’t have much experience dealing with market volatility. That said, there are still opportunities to earn passive income during a bear market — crypto traders just have to know where to look. In this article, we will look…

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The need for reimagining digital art’s value proposition

With cryptocurrency prices wavering this year, nonfungible tokens (NFTs) and other sub-ecosystem investors have also found themselves in the grips of a bear market. However, looking beyond the trading value of Ether (ETH), NFTs were primarily created to represent assets and ownership in the real and virtual world. The bear market, as a result, has reignited discussions around how NFTs can backtrack and focus on attending to use cases while the market recovers. In a conversation with Cointelegraph, Tony Ling, the co-founder of analytics platform NFTGo, shared insights into the…

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Bitcoin better than physical property for commoners, says Michael Saylor

MicroStrategy CEO and Bitcoin (BTC) advocate Michael Saylor doubled down on his support for Bitcoin as he explained the issues related to transferring the value of physical properties such as gold, company stocks or equity and real estate during the Australia Crypto Convention. Speaking about the underlying proof-of-work (PoW) consensus mechanism, Saylor highlighted that Bitcoin is backed by $20 billion worth of proprietary mining hardware and $20 billion worth of energy.  He then pointed out that traditional assets such as gold (in high quantity) and land are nearly impossible to…

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Lido DAO (LDO) Struggles At $1.8 After Ethereum Merge, What Next?

Lido DAO (LDO) showed so much strength as the price rallied from $0.5 to a region of $3, creating a new all-time high against tether (USDT) ahead of the anticipated “Ethereum Merge.” Lido DAO (LDO) benefited from the relief bounces across the crypto market as it continues to top the chart week in and week out but has since struggled after the merge. (Data from Binance) Lido DAO (LDO) Token Price Analysis On The Daily Chart  Daily LDO Price Chart Analysis | Source: LDOUSDT On Tradingview.com LDO saw a decline…

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White House OSTP department analyzes 18 CBDC design choices for the US

As directed by the President of the United States, Joe Biden, the Office of Science and Technology Policy (OSTP) submitted a report analyzing the design choices for 18 central bank digital currency (CBDC) systems for possible implementation in the US. The technical analysis of the 18 CBDC design choices was made across six broad categories — participants, governance, security, transactions, data and adjustments. The OSTP foresees technical complexities and practical limitations when trying to build a permissionless system governed by a central bank, adding: “It is possible that the technology…

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