In April, Esteban Cabrera Da Corte pleaded guilty to participating in a crypto scheme that defrauded U.S. banks of $4 million.
CBDC Hating, Bitcoin-Friendly Presidential Candidate Francis Suarez Drops Out of Race
Suarez previously said his campaign will accept bitcoin donation and said he would ban a central bank digital currency (CBDC), if elected.
Bitcoin Friendly Miami Mayor Francis Suarez Jumps Into Presidential Race
Suarez joins an increasingly crowded field as a longshot candidate for the Republican nomination. The mayor once accepted a paycheck in bitcoin.
Bitcoin set to ‘tick, tick, tick’ by the end of 2023: DeFi exec
In an exclusive interview with Cointelegraph, Obi Nwosu, CEO and co-founder of Fedi explains why it will “be clear” that Bitcoin’s ecosystem will come out on top by the end of this year.
Miami Bitcoin Conference Flags Attendance Down by Half as ‘Crypto Winter’ Drags On
Roughly 15,000 attendees are expected at the Bitcoin 2023 event, versus 35,000 last year – likely a result of the downturn known as “crypto winter.” Robert F. Kennedy Jr., the U.S. presidential candidate, is among scheduled speakers.
Miami blockchain folk hero secures $5M for community tokenization
The fund will be used to help residents secure affordable housing through blockchain initiatives.
Lawsuit against FTX celebrity promoters gets backup from former exec
Daniel Friedberg, the former top compliance chief for FTX and FTX US, has provided a declaration that could support the lawsuit.
Leader of Miami Trio Pleads Guilty to $4M Bank, Crypto Fraud Charges
The U.S. Department of Justice last year charged three members of a Miami crew for participating in a crypto-related scheme from 2020.
SEC Files Emergency Action Against BKCoin for Running $100M ‘Ponzi-Like’ Scheme
The U.S. Securities and Exchange Commission (SEC) was granted emergency relief by a Florida court on Monday to freeze and appoint a receiver for the assets of Miami-based crypto hedge fund BKCoin and one of its co-founders, Kevin Kang.
Crypto hotspots continue to thrive despite FTX collapse
Crypto-friendly cities throughout the world report growth and innovation despite recent events.
Tom Brady and other celebrities named in class-action lawsuit against FTX
Evidence suggests “FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors,” according to the lawsuit.
WEF 2022: Bitcoin should be seen from an innovation perspective, says Miami mayor
Francis Suarez reminded people that volatility plays an equal role when the market is going up, but the concerns only come up during bear markets.
Madeira ‘embraces’ Bitcoin and how the president met Michael Saylor
Why and how the island of Madeira is “adopting” Bitcoin and how the president fell down the Bitcoin rabbit hole.
Takeaways and reviews, what went down during Miami Tech Week
One of largest VC deals so far in Q1 2022 went to Miami-Based Yuga Labs with its $450 million seed funding round led by Andreessen Horowitz.
From beer to Bitcoin as legal tender: A BTC education in Roatán
How a small-scale Bitcoin education project involving a former brewery collided with plans for Bitcoin as de facto legal tender.
Making Bitcoin legal tender is Mexico will be ‘an uphill battle,’ says Ricardo Salinas
Billionaire and Bitcoin advocate, Ricardo Salinas,
Crypto Biz: An eye-opening chat with Mr. Wonderful, April 7–13, 2022
Kevin O’Leary told Cointelegraph that Bitcoin mining could incentivize green energy production. We also interviewed Mark Yusko and Mike McGlone at Bitcoin 2022.
Bitcoin 2022 Miami: Conference recap and major themes
The four-day event brought together developers, business leaders, policymakers and builders of the Bitcoin economy.
Mark Yusko explains the real problem with Fed policy — and why Bitcoin matters
The founder of Morgan Creek Capital explains how the Federal Reserve is destroying your purchasing power and why it could get a lot worse.
Price Of Bitcoin Retreats Under $42,000 As Enthusiasm From Miami Event Fizzles
The price of Bitcoin failed to break through the $43,500 resistance zone and fell below the $42,000 mark before changing course.
The world’s most valuable cryptocurrency is now exhibiting bearish characteristics and remains vulnerable to a move towards $40,500, multiple charts show.
Bitcoin dipped below the $42K level for the first time since March 22, returning to the range in which it has traded this year, owing to increased anxieties about mounting interest rates.
Suggested Reading | Bitcoin And Ether Up As BTC Whales Get Busy Acquiring New Supply From Sellers
Bitcoin Backpedals For 6th Straight Day
The most popular cryptocurrency plummeted to $41,818 on Monday morning in Asia, backpedaling for the sixth day in a row.
Since late March, when it peaked just above $48K, BTC – and other tokens – have been dragged lower by concerns about restrictive monetary policy.
The cryptocurrency market was trading sideways Monday. Bitcoin and Ethereum were both down in the early hours, while altcoins experienced a strong decline.
Global unrest intensifying as a result of Russia’s invasion on Ukraine, combined with economic uncertainty, is pushing markets into a tailspin.
Other major risks for the digital sector include rising prices and interest rate hikes.
Ascent Wanes After Miami Conference
The excitement generated by last week’s Bitcoin 2022 conference in Miami was insufficient to halt the trend.
Antoni Trenchev, managing partner of cryptocurrency lender Nexo, noted in an emailed statement:
“Now that the sugar rush associated with Bitcoin 2022 has passed, Tuesday’s (likely) dismal US consumer price report serves as a reminder that the central bank is caught between a rock and a hard place when it comes to addressing uncontrolled inflation without imploding the economy.”
BTC total market cap at $785.54 billion on the weekend chart | Source: TradingView.com
Bitcoin has spent the majority of the year trading in a region of roughly $35,000 to $45,000. Last month’s burst above $48,000 briefly reversed the token’s year-to-date losses, but BTC encountered resistance at its 200-day moving average.
Suggested Reading | What’s Next For Bitcoin As Prices Encounter Difficulty Reclaiming $43,000?
BTC Market Cap Down
The world’s cryptocurrency market capitalization has decreased to $1.93 trillion, down as much as 3% in the last 24 hours. However, the overall volume of cryptocurrency trade surged by more than 15% to $63.91 billion.
Expectations of tighter monetary policy have weighed on demand for riskier assets like cryptocurrencies and technology stocks, which are increasingly moving in lockstep.
Other popular cryptocurrencies also fell on Monday, with Polkadot falling 8.7 percent and Ether falling 4.6 percent.
Meanwhile, as Bitcoin grows in maturity and use, its price becomes increasingly associated with the pricing of traditional assets such as equities.
This rising link implies that any occurrence that results in price reductions in traditional markets will almost certainly result in comparable or bigger price declines in Bitcoin.
Featured image from Medium, chart from TradingView.com