• Bitcoin hit a fresh nine-month high on Friday, as prices moved above the $27,000 level. Ethereum also rose in today’s session.
• The surge comes following the U.S. Federal Reserve’s decision to backstop embattled banks to a record tune of $152.9 billion.
• Prices for both Bitcoin and Ethereum have been bolstered by an upwards crossover between their 10-day (red) and 25-day (blue) moving averages, along with an RSI that has broken out of a key resistance level.

Bitcoin Hits Nine-Month High

Bitcoin (BTC) moved to a fresh nine-month high on Friday, having surpassed the $27,000 level. The surge followed the U.S. Federal Reserve’s decision to backstop embattled banks with a total of $152.9 billion, which has provided support to both BTC/USD and ETH/USD in today’s session.

Technical Analysis

An upwards crossover between the 10-day (red) and 25-day (blue) moving averages appears likely for both bitcoin and ethereum, suggesting that a longer-term bull run is on the way for these cryptocurrencies. In addition, the 14-day relative strength index (RSI) has broken out of its resistance level at 67.00 for bitcoin and 65.00 for ethereum, pushing into overbought territory in each case respectively.

Ethereum Price Surge

Ethereum (ETH) prices have surged back above $1,700 following yesterday’s low at $1,644 – this move past a price ceiling of $1,720 confirms that bullish momentum is still strong within this market segment too.. Both ETH/USD and BTC/USD appear set to continue their respective uptrends due to an upcoming upwards crossover between their 10-day and 25-day moving averages along with an RSI that is pointing firmly towards overbought territory again; however further gains may be limited by current resistance levels near these figures respectively..

Potential Price Ceilings

The potential price ceilings for Bitcoin currently sit just below $28500 while Ethereum could reach as far as 1800 dollars if bullish momentum continues – however it remains uncertain whether either asset will manage to break through these respective figures given their already strong performances in today’s session so far..

Conclusion

In conclusion, it appears that bullish momentum within both Bitcoin and Ethereum markets are still going strong despite current market conditions; however further gains may be limited by price ceilings near 28500 & 1800 respectively if they are unable to break through these figures soon enough before any bears take control of either market segment again..

• Plena Smart Wallet has launched a Referral Program offering rewards worth up to $1,000,000 in $Plena tokens.
• Users can earn 50 points each by inviting their friends and family to join the platform and successfully complete 3 transactions on the Fantom chain.
• The Top 100 users on the leaderboard will get rewards worth up to $100,000 in $Plena tokens.

Plena Smart Wallet Referral Program

Plena Smart Wallet is one of the first self-custodial wallets to support Account Abstraction and is thrilled to unveil its hotly anticipated referral program that offers rewards worth up to $1,000,000 in $Plena tokens.

How To Participate

To participate in the program, users simply need to share their referral link with their friends and family. Once a new user downloads the app and signs up through their referral link & successfully completes 3 Transactions on the Fantom chain , both the referring user and the new user will be earning 50 points each. Existing customers can make as many referrals as they like but they must be a new Plena App customer. This means that the more friends and family members you refer, the higher your chances of winning a significant reward.

Rewards Galore

The program has turned referrals into a game, where users can earn rewards in the form of $Plena tokens for each referral they make & track the leaderboard. In addition to individual rewards for each successful referral made, Plena Smart Wallet’s referral program also offers exciting rewards worth up to $100,000 in $Plena tokens for Top 100 users on its leaderboard.

Goodbye Poor User Experience

Plena Smart Wallet is a super-friendly self-custodial crypto wallet which offers native support for Account Abstraction & its revolutionary approach helps tackle persistent issues such as poor user experience while making blockchain technology more accessible to general public. With this initiative from Plena Smart Wallet users can now embark on an exciting cryptocurrency journey without requiring extensive knowledge about blockchain technology!

Join The Next Billion Users Now

Say Goodbye to Poor User Experience and Hello to an Exciting Crypto Journey! Download The App Now: Playstore | AppStore

• Undersecretary for domestic finance at the U.S. Treasury, Nellie Liang, gave a speech to the Atlantic Council in Washington discussing central bank digital currencies (CBDCs).
• During her speech, Liang discussed President Joe Biden’s executive order which called on the government to develop an approach for the digital currency sector and highlighted key considerations that need to be addressed when developing a CBDC.
• The U.S. Treasury and White House have plans to meet regularly to discuss CBDCs and payment innovations.

U.S Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations

On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). She detailed that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and members of the Treasury, Biden administration and the Federal Reserve “will begin to meet regularly” to discuss this topic.

U.S Treasury’s Nellie Liang Discusses Key Considerations in Developing a CBDC

During her speech, Liang discussed U.S President Joe Biden’s executive order which called on the government to develop an approach for the digital currency sector. She also referenced potential risks such as crypto businesses collapsing last year, “runs on stablecoins” and “commingling of customer and firm assets” which reinforce recommendations made by regulators about protecting consumers with laws already in place.
Liang stated that an important decision is whether or not a government should create a wholesale or retail CBDC or both; these would need three core features including being legal tender, convertible one-for-one into other forms of central bank money – reserve balances or paper currency – along with clearing and settling nearly instantly. She noted that when developing a CBDC it needs address global financial leadership , national security , privacy , illicit finance as well as inclusion .

Global Financial Leadership

Liang mentioned that when considering global financial leadership there are trade-offs that need evaluating since each country has different approaches towards this issue; however if done correctly it can promote stability across different markets .

National Security & Privacy

National security was also highlighted by Liang who emphasized how essential it is for governments to ensure their citizens’ data is secure from any malicious actors trying to exploit these systems . The same applies with privacy where individuals have concerns over how their data can be used by governments ; therefore measures must be taken such as enabling users control over who is able access their information .

Inclusion & Illicit Finance

Finally Inclusion & Illicit Finance were two other points brought up by Liang during her speech who referred back again promoting equity within financial services while preventing criminals from using them illegitimately; she believes meeting these objectives will help bring societies closer together while protecting individuals from fraudsters .

Trueusd Leverages Chainlink Proof of Reserve

• TrueUSD (TUSD) has announced that it is leveraging Chainlink Proof of Reserve (POR) technology to provide real-time verification for the minting of trueusd tokens.
• Archblock, the issuer of TUSD, is using Chainlink to verify reserves before minting new stablecoins.
• The POR data feed is a smart contract that automatically checks whether the total supply of TUSD would exceed the total amount of U.S. dollars held in reserve before any new stablecoin is minted.

Background

Trueusd (TUSD) is a stablecoin project with a circulating supply of over 968 million tokens and is the sixth-largest stablecoin by market capitalization. It is deployed on several blockchains, including Arbitrum, Avalanche, Binance Smart Chain (BSC), BNB Chain, Cronos, Ethereum, Fantom, Polygon, Aurora, Optimism and Tron. Out of the top ten stablecoins by market capitalization, TUSD is one out three which have increased their supplies in the last 30 days.

Archblock Uses Chainlink to Verify Reserves Before Minting New TUSD Stablecoins

Archblock has announced that it will be using Chainlink to verify reserves before minting new TUSD stablecoins. This means that a smart contract will be used to automatically check whether or not the total supply of TUSD would exceed the total amount of U.S dollars held in reserve before any new token can be created. This move from Archblock furthers its commitment to trust and transparency for its users and customers alike.

Chainlink Co-Founder Comments

Chainlink co-founder Sergey Nazarov commented on this move stating “With Chainlink Proof Of Reserve ,TUSD can provide greater levels of assurance and confidence to its users” . This statement shows how important trust and security are when dealing with these types blockchain projects as well as how important it is for these companies to ensure they are providing their customers with reliable information on their platforms at all times .

Conclusion

This move from Trueusd comes at an interesting time where many other similar projects have had a tumultuous past 12 months due to various issues such as pegging issues or regulations preventing them from issuing certain coins . However , this move from Trueusd proves that they are committed to providing secure transactions and ensuring trustworthiness amongst their users .

• El Salvador is considering opening a second bitcoin embassy in Texas to boost economic exchange.
• Milena Mayorga, the Salvadoran ambassador to the US, discussed this with Texas Secretary of State Joe Esparza.
• The IMF noted that El Salvador had managed to avoid cryptocurrency-related risks due to slow and tepid adoption of Bitcoin.

El Salvador Considers Opening Second Bitcoin Embassy

El Salvador is considering opening a second bitcoin embassy in Texas to boost economic exchange and foster their growing relationship with the state. Milena Mayorga, the Salvadoran ambassador to the United States, recently discussed this possibility with Texas Secretary of State Joe Esparza.

Digital Assets Issuance Law

The proposal follows El Salvador’s approval of the Digital Assets Issuance Law in January 2023 and a recent mission statement on El Salvador’s economy by the International Monetary Fund (IMF). The IMF noted that El Salvador had managed to avoid cryptocurrency-related risks due to its slow and tepid adoption of bitcoin.

Comments by President Nayib Bukele

This development also follows comments by President Nayib Bukele regarding disinformation in national and international media. El Salvador’s finance minister Alejandro Zelaya took to Twitter to refute claims made by some media outlets, tweeting: “El Salvador has met its debt obligations. We announce that on this day we have completed the payment of the 2023 Bond for $800 million, plus interest”.

Exchange Projects Between El Salvadore and Texas

Ambassador Milena Mayorga stated that government officials were considering opening a second bitcoin embassy in Texas and had already taken place with authorities from Lugano, Switzerland about similar projects. She said that discussions with the deputy secretary of Government of Texas revealed plans for expanding commercial and economic exchange between both countries – having exchanged $1,244,636,983 in 2022 alone.

Conclusion

In conclusion, following developments such as El Savador’s approval of Digital Assets Issuance Lawand comments from President Nayib Bukeleabout disinformation in media; it appears that there are efforts being made topromote economic exchange between both nations through initiatives such asopening a second bitcoin embassyinTexas; furtheringrelations betweenEl SalvadoreandTexas even moreso than before.

• Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world.
• Roubini believes that the Chinese renminbi might be a substitute for the dollar, as new technologies like central bank digital currencies (CBDCs) and corporate payment rails contribute to a new landscape.
• The US government’s increasing set of restrictions on its rivals, including primary and secondary financial sanctions, may be causing this bipolar system in the next decade.

Nouriel ‘Dr. Doom’ Roubini’s Warning

Nouriel Roubini, an economist known as “Dr. Doom,” has warned about the demise of the U.S. dollar and the rise of a “bipolar” world currency system with Chinese renminbi being used more frequently as a substitute for it due to technological advancements such as central bank digital currencies (CBDCs), corporate payment rails and other modern solutions that are contributing to this shift in global finance.

US Government Restrictions

Roubini has pointed out that US-imposed restrictions on its rivals such as primary and secondary financial sanctions have made these countries vulnerable to US monetary policy changes driven by domestic factors such as inflation, which may be one of many contributing factors for this move towards de-dollarization in coming years.

Saudi Arabia’s Example

The BRICS bloc revealed it was working on creating its own currency while Saudi Arabia is already settling transactions using Chinese renminbi which could serve as an example for other countries in that area to follow suit in order to break away from dependence on USD currency altogether or at least reduce it significantly enough where it won’t affect their economies nearly as much if they decide to do so in near future.

Advantages & Disadvantages

While this transition comes with both advantages and disadvantages for different countries involved depending on their current economic situation, overall it seems that adoption of alternative currencies could bring more economic stability for those currently struggling due to reliance on USD without having much say regarding its issuance or control over monetary policy decisions dictated by US government domestically or internationally through various organizations like IMF (International Monetary Fund).

Conclusion

In conclusion, Nouriel Roubini’s warning about potential demise of US Dollar should not be taken lightly since there are numerous circumstances leading up to this happening whether it’s technological advancements making alternative solutions available or political issues forcing some countries into adopting them sooner than later regardless how they feel about it initially due to already existing dependencies mentioned earlier leaving them with no choice but going along with whatever changes come their way eventually if they want remain economically stable despite all odds against them right now globally speaking anyway when compared with those currently relying solely or mostly on USD worldwide at least until things start changing gradually over time hopefully sooner rather than later despite all odds being against us right now globally speaking anyway when compared with those still relying solely or mostly on USD worldwide at least until things start changing gradually over time hopefully sooner rather than later

• FTX debtors have filed a motion requesting the dismissal of their Turkish subsidiaries from the Chapter 11 bankruptcy proceedings.
• The motion claims that the dismissal is in the best interests of creditors, and FTX debtors do not believe Turkish authorities will cooperate with officials from the United States.
• In addition, FTX lawyers are asking for permission to subpoena co-founder Sam Bankman-Fried (SBF) and his inner circle for more information about the company’s collapse.

FTX Debtors Seek Dismissal of Turkish Entities

FTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers claim that dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials from the United States.

Reasoning Behind Motion

The motion argues that shortly after FTX collapsed, Turkish authorities froze and seized substantially all assets held by two related companies: FTX Turkey – which operated locally as a crypto exchange – and SNG Investments – a wholly-owned Alameda Research subsidiary acting as a marketmaker. The filing also suggests that given these circumstances, expulsion of these entities from bankruptcy proceedings is warranted; furthermore, it adds that given that these assets were frozen by Turkish government due to an investigation conducted by Financial Crimes Investigation Board (MASAK), conversion to Chapter 7 would not serve any beneficial purpose for either creditors or debtors’ estates.

Request for Subpoena

In addition to this request for dismissal, FTX lawyers are also seeking permission to issue subpoena against co-founder Sam Bankman-Fried (SBF) and his inner circle for more information about company’s collapse. Despite SBF publicly expressing willingness to provide explanations and help customers affected by collapse, he has yet to respond or comply with requests made so far; hence necessity of subpoena authorization granted by court is requested in this filing.

Court Ruling Expected Soon

At present moment it remains unclear what decision judge presiding over case will make regarding both motions presented by debtors; however it is expected ruling will be issued soon which should finally bring some clarity into current situation surrounding defunct crypto exchange.

Conclusion

FTX debtors have submitted a motion requesting removal of their twoTurkish subsidiaries from Chapter 11 bankruptcy proceedings due to lack cooperation expected from local authorities; additionally they are seeking court authorization for subpoena against SBF and his inner circle as part of effort to recover more data regarding company’s collapse. Judge presiding over case is expected to make ruling soon on both motions presented by debtors which should provide much needed clarity on current state of affairs surrounding defunct crypto exchange.

• Dogecoin (DOGE) and Shiba Inu (SHIB) surged to 8-week highs on Tuesday, with both coins breaking resistance levels.
• DOGE/USD rose to an intraday high of $0.095, while SHIB/USD climbed back above the key support level of $0.00001165.
• The move came as a result of the release of the latest consumer confidence report in the United States.

Biggest Movers: DOGE and SHIB Surge

Dogecoin (DOGE) and Shiba Inu (SHIB) both saw significant gains on Tuesday, with prices surging to eight-week highs. The movement came following the release of the latest consumer confidence report in the United States.

Dogecoin (DOGE)

Dogecoin (DOGE) moved higher on Tuesday, breaking out from a key resistance level at $0.08578 to reach an intraday high of $0.095 – its highest point since December 11th when prices were at a peak of $0.0972. The 14-day relative strength index (RSI), which had collided with a ceiling at 65, was currently tracking at 65.03 as momentum continued to move higher for bulls targeting their next area of focus at $0.099 or beyond that if able to maintain current momentum .

Shiba Inu (SHIB)

Shiba Inu also saw notable gains on Tuesday, rebounding from losses earlier in the week amidst news from the US consumer confidence report to reach an intraday high of $0.00001195 – climbing back above its key support level at $0.00001165 as its RSI climbed back up towards 62 and beyond that possibly 68 if momentum is able to sustain itself higher for bulls aiming for their next target price set around $0.00001220 or more depending on how strong they are able to stay over time .

Conclusion

The meme coin market has been very volatile lately but these recent moves show promise for dogecoin and shiba inu holders hoping for further growth this year as long as they are ready for any potential dips or volatility along their journey ahead!

-Bitcoin started the weekend hovering near $23,000 as markets continued to react to personal consumption data in the US.
-Ethereum remained close to $1,600 to start the day.
-Volatility in Ethereum has been heightened in recent days, following a failed breakout attempt of the $1,645 level earlier this week.

The cryptocurrency market has been in a state of flux in recent weeks, with Bitcoin (BTC) and Ethereum (ETH) both experiencing significant price movements. On Saturday morning, Bitcoin was hovering around the $23,000 mark, while Ethereum was trading around the $1,600 level.

The price of Bitcoin has been particularly volatile in the past few days, reaching a high of $23,417.72 on Friday, before dropping back down to an intraday low of $22,880.60. This comes as Bitcoin has been unable to break out of a key resistance level at $23,500, prompting a resurgence of bearish sentiment. The 14-day Relative Strength Index (RSI) has dropped below the 80.00 mark, and looks to be headed for a floor at 76.00. If Bitcoin’s downward momentum continues, it is likely that the BTC/USD pair will encounter a floor at $22,400.

Meanwhile, Ethereum (ETH) briefly moved back above $1,600 on Friday, before dropping back down to a low of $1,568.69 on Saturday. This follows a failed breakout attempt of the $1,645 resistance level earlier this week. The 14-day RSI has now fallen below its floor at 63.00, with a floor at $1,550 potentially in sight for sellers.

Overall, the combination of recent US personal consumption data and the failed breakout of key resistance levels has led to a decrease in price strength for both Bitcoin and Ethereum. With this in mind, traders should continue to monitor the cryptocurrency market closely in the coming days, as any further developments could have a significant impact on both coins’ short-term price action.

• US, France and the Treasury Department have shut down the Bitzlato cryptocurrency exchange and arrested its Russian co-founder, Anatoly Legkodymov, in Miami.
• The DOJ accused Bitzlato of laundering criminal proceeds from darknet markets and ransomware attacks.
• Deputy Attorney General Lisa Monaco claimed that this operation was a “significant blow to the crypto crime ecosystem”.

US and French law enforcement have shut down the cryptocurrency exchange Bitzlato, arresting its Russian co-founder, Anatoly Legkodymov, in Miami. This is part of an “international cryptocurrency enforcement action”, according to the US Department of Justice (DOJ).

The DOJ alleged that Legkodymov operated the exchange as a “high-tech financial hub that, in his own words, catered to ‘known crooks’”. Deputy Attorney General Lisa Monaco highlighted that Bitzlato was a “crucial financial resource” for Hydra, the largest darknet market with Russian roots, which was shut down in April last year by the German police with the support of US agencies.

Monaco claimed that the DOJ is dealing a “significant blow to the crypto crime ecosystem”. The US Treasury Department also played a role in this operation, as well as the French law enforcement.

The Bitzlato platform had previously claimed that it was hacked. However, the DOJ’s allegations suggested that the exchange was handling illicit funds worth hundreds of millions of dollars.

The DOJ also highlighted the importance of international law enforcement cooperation in tackling crypto crime. Monaco noted that the DOJ is “committed to identifying, apprehending, and prosecuting criminals who use cryptocurrency to facilitate their criminal activities”.

This is not the first time that the DOJ has gone after crypto criminals. In the past, the DOJ has busted several crypto-related money laundering operations, including a 2019 case involving the now-defunct BTC-e exchange.

In conclusion, the US and French law enforcement’s enforcement action against Bitzlato and its Russian co-founder is yet another example of the increasing focus the authorities are placing on crypto-related crime. The DOJ is sending a clear message that it is committed to cracking down on crypto crime and will continue to pursue those who facilitate it.