During his speech, Trump Jr. highlighted his belief that “crypto is the future of finance,” and added:

“We recognize a major opportunity in the financial sector and are committed to bringing that innovation back to the US.”

He also stressed the importance of establishing a supportive regulatory framework for the cryptocurrency industry, noting, “The success of crypto largely depends on the regulatory structure that governs it.”

Nexo Resumes Its Fight in the US

Back in late 2022, Nexo exited the American market, citing a lack of clear regulatory guidance as the main reason. In early 2023, the company reached a $45 million settlement with the US Securities and Exchange Commission (SEC) over allegations that it failed to properly register its interest-earning crypto product.

Following the settlement, Nexo chose to discontinue its yield-generating service for US-based customers. This product had allowed users to earn daily compounded returns by lending select cryptocurrencies to the platform.

At the same time, the California Department of Financial Protection and Innovation issued a cease and desist order against Nexo, labeling the interest-earning product as an unlicensed security offered without proper approval.

A New Era for Crypto Regulation in the US

Historically seen as a barrier to the crypto industry, the SEC is now signaling a different approach with the appointment of Paul Atkins as its new chair.

This leadership change was met with enthusiasm in the crypto community. Michael Saylor, CEO of the corporate Bitcoin holder Strategy, commented:

“Paul Atkins’ leadership at the SEC will be a positive force for Bitcoin.”

Similarly, James Gernetzke, CFO at the crypto wallet provider Exodus, remarked, “Being able to engage constructively with regulators will greatly benefit the industry.”

Meanwhile, Nexo has declined to provide further details regarding its reentry into the US market.

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Saylor’s brief and powerful message was “Stay Humble. Stack Sats.”, fueling speculation that Strategy is preparing for another massive Bitcoin purchase.

Popular blockchain analyst RunnerXBT speculated that the upcoming investment might range between 1.4 to 1.6 billion dollars, nearly three times larger than the previous acquisition.

Strategy and Whales Are Stacking Bitcoin

According to data, Strategy is currently the world’s largest corporate holder of Bitcoin, owning over 538,200 BTC valued at more than 50.5 billion dollars.

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Meanwhile, Japanese investment firm Metaplanet has surpassed 5,000 BTC holdings, aiming to lead Bitcoin adoption in Asia.

Glassnode data shows that whale wallets holding at least 1 million dollars worth of BTC have increased from 124,000 on April 7 to over 137,600 on April 26. This aggressive accumulation helped Bitcoin recover above the 94,000$ mark.

Nexo analyst Iliya Kalchev highlighted that wallets holding over 10,000 BTC have been aggressively accumulating, with a trend score of 0.90.

Bitcoin ETFs Record 3 Billion Dollar Inflows

Another major factor supporting Bitcoin’s rally is the strong inflow into Bitcoin ETFs. U.S. spot Bitcoin ETFs recorded over 3 billion dollars in net inflows last week, marking the second-highest weekly inflow since their launch.

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The post Michael Saylor Hints at New Bitcoin Purchase! appeared first on Coin Engineer.

Key Intraday Levels for Bitcoin

The BTC/USD pair has lost 5.17% over the past 24 hours and is currently trading at $99,191. Bitcoin (BTC) has experienced a significant drop, reacting to the support levels mentioned in previous analyses. For an upward movement, it must close above the resistance level of $101,545. Support levels are identified at $99,455 and $98,504.

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Ethereum (ETH): The ETH/USDT pair has dropped 6.93% in the last 24 hours and is now trading at $3,067. For ETH, resistance levels are $3,091 initially, followed by $3,217. Support levels are at $2,994 and $2,930.

Pepe (PEPE): The PEPE/USDT pair has lost 15.83% in the past 24 hours, currently trading at $0.00001255. Resistance levels for PEPE are $0.00001441 initially, followed by $0.00001661. Support zones are at $0.000011188, and in case of further decline, $0.00001044.

Binance Coin (BNB): The BNB/USDT pair has dropped 4.96% in the last 24 hours, now trading at $652.29. Resistance levels for BNB are at $661.34 and then $679.25. Support levels are $638.5 and $621.89 if the decline deepens.

Nexo (NEXO): The NEXO/USDT pair is down by 4.93% over the last 24 hours, trading at $1.367. For NEXO, resistance levels are at $1.409 and $1.455. Support zones are at $1.327, with further declines targeting $1.293.

Trending Coins

Among the most trending coins in the crypto market over the past 24 hours are MANTRA (OM), Vine (VINE), and Toshi (TOSHI). The top gainers include SWFTCOIN (SWFTC), Newton Project (NEW), and Tribe (TRIBE). On the other hand, the most significant decliner is DeepBook (DEEP).

Bitcoin Liquidation Map

When examining Bitcoin’s 12-hour liquidation map, a notable liquidation can be observed at $103,075 with $54.05 million on the upper side. On the lower side, the standout level is $98,106 with $43.29 million in liquidations.

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The post The Latest on Bitcoin and Cryptocurrencies: 27 January appeared first on Coin Engineer.

Over the past six months, SHIB has seen increased attention, with multiple platforms, including a Japanese exchange, listing the Ethereum-based meme coin.

Speculation about a price surge accompanied these listings, fueled by expectations of higher adoption and demand. Following its listing on Coincheck, SHIB saw a price increase of 7.61%, generating excitement within the community. However, despite the recent Nexo listing, SHIB’s price remained in the red at the time of writing, trading at $0.00002681 with a 5% decrease over 24 hours. Nevertheless, there is optimism that SHIB could experience a significant uptick in price, with experts predicting potential gains of up to 70% in the coming weeks, citing improvements in the ecosystem fundamentals.

Nexo Obtains Dubai License, Expands Crypto Compliance

Meanwhile, Nexo, in addition to listing SHIB, recently obtained a license from the Dubai Virtual Assets Regulatory Authority (VARA). This move represents an expansion of Nexo’s services and signifies progress in overcoming regulatory hurdles. While not a full license, this initial consent marks a significant step forward for Nexo in its licensing process, signaling its commitment to compliance and expansion in the cryptocurrency space.

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The company accused the country of engaging in unfair and oppressive criminal investigations and wrongful, politically motivated actions. The arbitration case seeks $3 billion from the Republic of Bulgaria.

The company sent an email on Wednesday explaining the matter.

The case was closed in December by the Bulgarian Prosecutor’s Office due to insufficient evidence and no evidence. There was a widespread restriction on cryptocurrency-related activities following the collapse of many cryptocurrency companies, including the sudden collapse of the FTX exchange.

Nexo claimed that the investigation damaged its brand value and led to the loss of certain business opportunities, such as a potential initial public offering (IPO) in the United States.

The allegations were filed with the International Centre for Settlement of Investment Disputes (ICSID) in Washington, DC, which is a part of the World Bank.

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Coinbase was sued by the SEC in June for allegedly operating as an unregistered broker, dealer, and exchange. Coinbase denied the allegations, arguing for the dismissal of the case and accusing the regulator of adopting a “regulation by enforcement” approach.

The exchange attorney William Savitt explored how securities are defined and pointed out the difference between “investing in Beanie Baby Inc. and buying Beanie Babies.”

In its June complaint, the SEC said that tokens such as SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO are securities.

Savitt made an explanation about Coinbase

Savitt noted that Coinbase does not argue that tokens listed on its website can never be considered securities.

“We do not accept the view that token transactions can never be investment contracts,” he said, adding that the SEC did not present any allegations in its case that meet the definition of an investment contract.

He also said that Coinbase agrees with the SEC that a formal contract signed by the buyer is not necessary to create an investment contract. However, he still said that token buyers reading technical reviews and other information about token projects does not mean they are buying investment contracts.

Savitt also rejected the SEC’s thesis that token sales on Coinbase should be considered investment contracts because token projects may have made certain promises to buyers and buyers may have bought tokens in the hope of a price increase.

“There needs to be a statement intended to convey an enforceable promise,” Savitt said. “That is the irreducible minimum of what could be considered an investment contract.”

The Coinbase attorney said that what really distinguishes blockchain tokens from securities is that a person who buys a stock, whether directly from an issuer or on a secondary market, receives all the rights that ownership of those securities confers, but that is not the case for tokens.

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