Cryptocurrency

US Congressman Reveals Altcoin Investments

Wednesday. August 28 at 7:30 AM

1 min. read

Mike Collins, the representative for Georgia's 10th Congressional District, disclosed three altcoin investments while serving in Congress. In financial reports filed from July to August, Collins revealed purchases of up to $15,000 in Velodrome (VELO), The Graph (GRT), and Aerodrome Finance (AERO). He also partially sold his AERO holdings before making another purchase. Collins stands out as one of the few lawmakers actively trading tokens with smaller market caps, in contrast to popular cryptocurrencies like Bitcoin and Ether. He also disclosed buying Ethereum earlier. With the 2024 election approaching, many candidates, including Collins, are taking stances on digital assets. Some, like Senators Ted Cruz and Cynthia Lummis, have also disclosed crypto investments. The STOCK Act requires US lawmakers to report their investments, but some senators are pushing for amendments to prevent stock trading by members of Congress, citing ethical concerns and a loss of public trust in democratic institutions.

More news 🗞️

Cardano (ADA) Price Analysis and Forecast

Tuesday. December 10 at 9:00 PM

Cardano (ADA) is currently trading below $1 for the first time since November 26, indicating a persistent downtrend. The ADX has surged to 41.2, confirming the strength of this bearish trend, with ADA facing pressure as D- stands at 33.2 and D+ at 6.2. The Ichimoku Cloud has turned red, signaling a bearish outlook as ADA remains below the cloud, hinting at potential further downward pressure. The technical setup suggests ADA may test lower support levels soon. Despite the rising ADX, ADA is still in a downtrend, with a higher D- than D+, indicating continued negative momentum. If ADA remains below the cloud, it could face increased selling pressure, potentially testing support at $0.87 and lower levels. On the flip side, overcoming resistance at $1.11 could lead to further gains. This analysis serves for informational purposes only, and readers are advised to conduct their own research before making financial decisions.

Cryptocurrency

India's Jetking Infotrain Makes History with Bitcoin Treasury Reserve

Tuesday. December 10 at 8:00 PM

Jetking Infotrain has made headlines as India's first publicly traded company to hold Bitcoin in its treasury reserve. The firm recently acquired 12 BTC, valued at $1.2 million, marking a significant move in the crypto space. CEO Avinash Bharwani revealed the company's strategy to mix equities with BTC to enhance long-term growth. This decision comes amidst a growing trend of companies adding Bitcoin to their balance sheets, with MicroStrategy and Riot Platforms also making similar moves. Suril Desai, a prominent crypto lawyer, is leading discussions with regulators to formalize Jetking Infotrain's Bitcoin holdings. The company's initiative aligns with India's evolving stance on cryptocurrencies, following the lifting of a 2-year ban on banks facilitating crypto transactions. Despite regulatory challenges, the adoption of Bitcoin by Indian companies signals a shift towards mainstream acceptance and integration of digital assets in traditional finance.

Cryptocurrency

Analyzing Hedera's Price Decline

Tuesday. December 10 at 4:00 PM

Over the past week, Hedera (HBAR) has experienced a significant 17% decrease in price, sparking concerns among investors. The current trading value of HBAR stands at $0.29, prompting questions about how much lower it could go. One key indicator pointing towards a potential further drop is the Exponential Moving Average (EMA), which suggests a bearish trend for HBAR. Additionally, the social dominance of Hedera has declined, indicating reduced market interest and a possible continuation of the price decline. The Chaikin Money Flow (CMF) has also decreased, signaling increased selling pressure that could drive the price down to $0.17. However, a reversal in the trend could occur if HBAR surpasses the 20 EMA and buying pressure rises. Investors are advised to conduct thorough research and seek professional advice before making any financial decisions.

Cryptocurrency

El Salvador's Bitcoin Policy Revisions for IMF Loan

Tuesday. December 10 at 3:00 PM

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.

Cryptocurrency