Cryptocurrency

El Salvador's Bitcoin Policy Revisions for IMF Loan

Tuesday. December 10 at 3:00 PM

1 min. read

El Salvador is planning to revise its Bitcoin law to make accepting Bitcoin as a payment method voluntary instead of mandatory, addressing concerns raised by the IMF. The country aims to improve fiscal stability by reducing the budget deficit and enhancing regulations for Bitcoin use. By aligning with the IMF's recommendations, El Salvador could secure additional funding beyond the $1.3 billion loan. The country's initial adoption of Bitcoin as legal tender has faced challenges, including financial risks due to BTC's value fluctuations and lower-than-expected uptake. The request for an IMF loan is crucial for El Salvador to avert a fiscal crisis and maintain economic stability. The government is expected to implement structural reforms, including changes to the BTC law, to address IMF concerns while preserving the core of its BTC experiment. The outcome of negotiations with the IMF will shape El Salvador's economic future and serve as a case study for other nations considering crypto adoption.

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Security Breach at Animoca Brands: Fake Token Promotion

Thursday. December 26 at 10:00 AM

Animoca Brands’ co-founder and executive chairman, Yat Siu, fell victim to a hack on his X account promoting a fake token called ANIMOCA. The official X account of Animoca Brands confirmed the incident and warned investors to avoid Yat Siu’s account. The hacker managed to compromise Yat Siu’s account and falsely announced a token launch by Animoca Brands. The price of the fake token skyrocketed by 500% in just five minutes before plummeting when the post was deleted. Yat Siu addressed the breach through a secondary account, revealing that the hacker bypassed 2FA security. Animoca Brands clarified that there was no official token launch and urged caution. This incident adds to a string of similar hacks in the cryptocurrency space, highlighting the ongoing issue of access control vulnerabilities.

Cryptocurrency

Market Analysis: Slow Day for Crypto Market with Bitget Token (BGB) Setting New All-Time High

Thursday. December 26 at 7:00 AM

Today, the crypto market, including the total market cap (TOTAL) and Bitcoin, is experiencing a relatively stagnant day with minimal movement in the last 24 hours. Despite this, Bitget Token (BGB) has managed to continue its upward trend and reach a new all-time high. The total crypto market cap has seen a slight decrease of 0.31% to $3.35 trillion, indicating market stability as investors monitor for potential changes. Maintaining support above $3.28 trillion is crucial for market recovery, while surpassing $3.49 trillion could signal a bullish momentum shift. Bitcoin is currently priced at $98,964, aiming to break the $100,000 resistance level. Failure to do so may result in consolidation below this level. BGB has surged 30% to reach $6.37, showcasing strong investor confidence and potential for further growth if market conditions remain favorable.

Cryptocurrency

Shiba Inu Price Analysis: Potential Upside Amidst Market Volatility

Thursday. December 26 at 4:00 AM

Shiba Inu (SHIB) price has experienced a 10% drop in the last week, making it the second-largest meme coin after Dogecoin. Despite this decline, SHIB's Relative Strength Index (RSI) has been steadily increasing, indicating a positive shift in market sentiment and buying momentum. Whale activity has stabilized, hinting at a temporary pause in accumulation and distribution, which could result in price consolidation. With SHIB trading within a specific range, breaking a key resistance level could lead to a 29.5% increase. The RSI currently stands at 52.6, showing a significant rise from 41, suggesting improved market conditions in the short term. The number of addresses holding 1 billion SHIB has increased, signaling confidence from major investors. However, if the support level at $0.00002259 is breached, SHIB may face further downside pressure.

Cryptocurrency

Israel to Launch Bitcoin-Linked Mutual Funds

Thursday. December 26 at 2:00 AM

Israel is set to introduce six new mutual funds tied to Bitcoin's performance on December 31, marking a significant step towards integrating cryptocurrencies into investment products. Licensed by the Israel Securities Authority, these funds will allow investors to access Bitcoin through the local currency, shekel. The funds will track Bitcoin's price using various methods, including indexes and active management, with some even monitoring leading U.S. Bitcoin ETFs. Management fees are expected to range from 0.25% to 1.5% to attract investors. This move follows two years of regulatory discussions and signals Israel's growing interest in cryptocurrencies. The launch also aligns with the country's exploration of blockchain technology, including the development of a Digital Shekel. By offering Bitcoin-tracking funds, Israel is embracing institutional acceptance of cryptocurrency investments and catering to the demand for emerging digital assets in the financial market.

Cryptocurrency