The pivot point is, at its core, a straightforward calculation: an average of the high, low, and closing prices from the prior period. Yet, this seemingly simple figure carries significant weight for traders.
The Fed's big rate decision may trigger swings in Bitcoin’s trajectory, as economic momentum drives market sentiment
A top super political action committee (PAC) backing U.S. Vice President and Democratic presidential candidate Kamala Harris known as Future Forward PAC will accept cryptocurrency donations, a Coinbase spokesperson said Wednesday. Future Forward has raised hundreds of millions of dollars to back Harris in the Nov. 5 U.S. election in which she faces Republican presidential candidate and former President Donald Trump. Although Harris has yet to publicly take a stance on crypto, her campaign staff have met with prominent crypto firms, including Coinbase and Ripple, Reuters has previously reported.
Although the tech sector (XLK) has suffered in recent weeks, there are plenty of investing strategies and plays that could help investors find their footing amid trending volatility. Morningstar Chief US Market Strategist David Sekera joins Market Domination to give insights into current market trends. Sekera points out how utilities (XLU) may be an undervalued sector: "On a valuation basis, [utilities were] pretty much as undervalued according to our valuations as they had been over the past decade. But that sector is up about 22% year to date, or even more than that off of those lows from last October. So, at this point, I think it's time to move to an underweight there." Tying utility demands back into AI, Sekera finds utilities to be "the big story this year" as the sector becomes more like a "second derivative of AI. "Of course, electricity demand will be increasing as more AI comes out there because AI takes many times more power to run than traditional computing," Sekera says. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Nicholas Jacobino
Robinhood's crypto-trading subsidiary used to prevent customers from withdrawing the tokens they bought. Though Robinhood Crypto LLC abandoned that policy in 2022, on Wednesday its past practices earned a $3.9 million slap on the wrist from the state of California.
According to BlockBeats, on September 5, the Federal Reserve issued a cease and desist order to United Texas Bank, a crypto-friendly institution. The order was prompted by significant deficiencies in the bank's compliance with anti-money laundering (AML) laws related to transactions with cryptocurrency clients, as well as other alleged illegal activities.
According to BlockBeats, on September 5, Ripple's legal team revealed in a document submitted to the U.S. District Court for the Southern District of New York on September 4 that the SEC has agreed to delay the payment of penalties until after September 6. The legal team suggested that Ripple deposit 111% of the judgment amount, approximately $139 million, into a bank account until 30 days after the appeal period expires or any appeals are resolved.Analysts believe that this delay in penalty payment may pave the way for a potential appeal by the SEC.Previously, on August 7, a federal judge ordered Ripple Labs Inc. to pay a civil penalty of $125 million for selling its XRP tokens to institutional investors without registering with the U.S. Securities and Exchange Commission (SEC).
A whopping 70% of Trump-backed World Liberty Financial's WLFI tokens will be reserved for the project's insiders, according to a white paper draft obtained by CoinDesk. World Liberty Financial, the new crypto lending platform promoted by former U.S. President Donald Trump and his sons, advertises itself as a way of "putting the power of finance back in the hands of the people" and a solution to the "rigged" traditional finance system. CoinDesk has obtained a draft white paper for the project.
A spokesperson for Coinbase said the Future Forward PAC, which is dedicated to supporting Kamala Harris, is accepting crypto donations, rather than her campaign directly.
(Reuters) -A cryptocurrency platform run by Robinhood Markets will pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts from 2018 to 2022, California Attorney General Rob Bonta said on Wednesday. The civil settlement with Robinhood Crypto is the first public action by Bonta's office against a cryptocurrency company. Bonta said Robinhood violated California law by failing to deliver cryptocurrencies that its customers had bought, leaving customers unable to withdraw their assets and forcing them to sell the assets to exit the platform.