First Mover Americas: Bitcoin Hits 9-Month High
Bitcoin continued to rally early Tuesday morning, building on Monday's gains, rising 18% in the past 24 hours. The world's largest cryptocurrency broke the $25,000 mark after US price data was released. Since then the cryptocurrency has fallen to around $26,200, a nine-month high. More than $100 million in bitcoin shorts, or bets against rising prices, were liquidated on Monday. Ether also gained on Tuesday, 10% and crypto exchange OKEx's OKB token rose 25%.
The Commodity
Futures Trading Commission announced former White House staffer Carole House as
its new chair and blockchain research firm TRM Labs' Ari Redboard as vice chair
of its Technology Advisory Board. The CFTC released a list of its committee
members on Monday, announcing that the committee was newly formed and chaired
by Commissioner Christy Goldsmith Romero, who took office last March. "To
protect our markets from increasingly sophisticated cyber attacks, to ensure
the development of digital assets in a way that protects consumers, and to ensure
that the impact of emerging technologies such as artificial intelligence is
understood , the Commission requires the advice of technical experts."
Goldsmith Romero said in a statement.
Cryptocurrency
exchange Coinbase has suspended trading in its stablecoin binance USD (BUSD),
according to a tweet on Monday. The exchange announced plans to delist BUSD in
February, with Coinbase CEO Brian Armstrong citing concerns about liquidity.
The move came after Paxos Trust, the company issuing BUSD, stopped producing stablecoins
following regulatory procedures by the New York Department of Financial
Services and, reportedly, the Securities and Exchange Commission. United States
Exchange Commission.
·
The chart shows that the combined market value of the three
major dollar-pegged stablecoins - USDT, USDC, and BUSD - continues to decline
despite bitcoin's 25% since Friday night falling near $19,550 .
·
This difference reflects investors' preference for assets
that are excluded from traditional funds.
· Three United States banks failed in one week, drawing attention to bitcoin as another negative asset that cannot be brought down.
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