Bitcoin and altcoins correct after Yellen’s ‘illicit financing’ critique
Janet Yellen’s critical comments about cryptocurrencies put a damper on the wider market just as Ethereum price reached a new all-time high. On Tuesday, Ether (ETH) underwent a bullish breakout which propelled the price to a new all-time high at $1,428. While the move may have been technical, the fundamentals for Etheruem continue to improve as less than one month after launch there is now $3.8 billion worth of ETH locked on the Eth2 blockchain. The rapid rise in price has clearly attracted the attention of pro traders but Cointelegraph analyst Marcel Pechman warns that Ether’s rise to a....
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Janet Yellen added that she planned to encourage the use of digital assets for “legitimate activities.” U.S. President Joe Biden's pick for Treasury Secretary Janet Yellen may see more benefits to cryptocurrency than her previous testimony indicated. After a virtual hearing of the U.S. Senate Finance Committee held on Tuesday, Yellen hit the headlines for her answer to Democratic Senator Maggie Hassan’s question about how she would respond to “emerging financial technology” being used to fund criminal organizations and terrorists. Yellen referred to cryptocurrencies as a “growing concern”....
The new US Treasury Secretary Janet Yellen’s recent negative comments about Bitcoin and crypto have revolved around alleged “illicit use.” However, data from a top blockchain analysis firm claims that under 1% of all cryptocurrency transactions are related to criminal activity. Here’s why the former Federal Reserve Chair’s assumptions about the digital asset class are way off base. Under 1% of Crypto Transactions Are Tied To Illicit Use Bitcoin is an asset and currency unlike anything […]
According to an independent market analyst, altcoin holders face the risk of facing twice more losses if the Bitcoin price corrects by another 30%. Altcoin traders and investors should look for cover if Bitcoin (BTC) undergoes major price declines.So believes Filbfilb, an independent market analyst and co-founder of Decentrader trading suite. In a tweet published late Friday, the pseudonymous entity said a 30% crash in the Bitcoin market could prompt altcoins to drop twice as harder.When Bitcoin consolidated between $50,000 and $60,000 in the March-May period, altcoins exploded. Similarly,....
The Treasury’s statement came a day early and was removed from the site, but not before the details of how Secretary Yellen plans to respond to President Biden's forthcoming order. A statement from U.S. Treasury Secretary Janet Yellen on President Joe Biden’s executive order regarding digital assets calls for efforts to support innovation while addressing risk in the industry.Yellen’s statement was released a day early apparently by error and quickly deleted, but was captured on a web archive. It shares early insights into the details of President Biden’s soon to be released executive....
Source: Reddit user bubbasparse. You know that when a topic hits American TV game show Jeopardy, it's getting popular. On Thursday evening's program, a question came up related to bitcoin. "A digital currency in which transactions can be performed without the need for a central bank," read the iconic blue prompt. The contestant replied correct: "What is bitcoin?", though some have argued that even if the contestant answered with "litecoin" or some of the other altcoins they'd still be correct. Still, it's interesting to see this sort of this, and it's a great way to get the word out to....