Cryptosanders👑

Binance Reportedly Investigated in US for Russia Sanctions Violations Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial restrictions imposed over Moscow’s invasion of Ukraine.

Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of the best hard assets available. According to Foss, bitcoin provides insurance against “the failure of a basket of fiat currencies.”

Voyager Digital Provides Update on Reimbursement Plan for Creditors Following Binance’s withdrawal from the Voyager Digital deal on April 25, the now-defunct crypto lender has recently informed creditors that they can expect to receive their initial cash and crypto distributions “within the next few weeks.” This update comes nine days after Binance’s decision to back away from the deal.

US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the “world’s first federated operating system.” Obi Nwosu said the Fedi Alpha version, which is targeted at the builder community, is set to be rolled out later in May.

Texas House Advances Gold-Backed Digital Currency Bill Texas has taken its first steps in order to approve a bill that would issue a 100% gold-backed digital currency. If enacted as law, the bill, which is being discussed by a Texas House committee, would create an electronic system for users to transact and pay with this digital currency and would also allow them to execute redemptions for the gold specie, or coins, backing it.

Saudi Arabia Joining BRICS Would Accelerate Chinese Yuan’s Use as Trading Currency, Says Professor Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the bilateral trading being conducted using the yuan as the trading currency. ”

Fed Chair Warns of ‘Uncertain and Adverse’ Consequences of US Debt Default — ‘We’d Be in Uncharted Territory’ Federal Reserve Chairman Jerome Powell has warned of “highly uncertain and adverse” economic consequences if the U.S. defaults on its debt obligations. “No one should assume that the Fed can protect the economy from the potential short and long-term effects of a failure to pay our bills on time,” he further cautioned.

Crypto Miners Pay Kazakhstan $7 Million in Taxes Amid Uncertain Future for Sector The government of Kazakhstan has collected over $7 million in taxes this and last year from enterprises mining cryptocurrency in the country. The news comes amid growing regulatory pressure that is limiting the industry’s access to low-cost energy while increasing its tax burden.

US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls Recent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest that the U.S. economy is experiencing a period of instability and uncertainty, prompting concerns among market observers.

Former SEC Enforcement Chief: Coinbase’s Arguments ‘a Surefire Loser’ and Possibly Criminal According to John Reed Stark, crypto exchange Coinbase’s assertions that its business activities were endorsed by the U.S. Securities and Exchange Commission (SEC) when it approved its initial public offering are “a surefire loser.” According to Stark, the SEC’s approval of Coinbase’s registration statement was done to ensure the latter had made “proper disclosures in their application.”

Cryptoys Unveils Star Wars Digital Toys in New Line of Collectibles The crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital action figures will be available to collect in total, and the initial Star Wars non-fungible token (NFT) drop will begin on May 24.

Meme Coin PEPE’s Market Cap Surpasses $1B with 896% Surge Over the Past Week As per the latest statistics recorded before the weekend, the meme token PEPE has witnessed a massive surge in value, following its recent listing on the crypto exchange Binance. In just seven days, the crypto asset has skyrocketed by 896% against the U.S. dollar, making it the third-largest meme token in terms of market valuation. Amid the price spike, PEPE’s market cap now exceeds the $1 billion mark.

Following the FOMC meeting, ETH did witness some signs of a bullish stride. However, with the ETH whales in selling mode, a bullish narrative remains questionable.

Hello, welcome to this ADA/USDT update by CRYPTO SANDERS. CHART ANALYSIS:-Cardano formed a bearish head and shoulders formation, which is about to resolve soon. If confirmed, that would mean the price could break lower. ADA also lost 5.4% of its valuation this past week. The key support at 38 cents is critical for this cryptocurrency as it will determine the price action in the weeks to come. The Bears appear to have the upper hand right now, but things could still go either way. Looking ahead, expect volatility to increase as the price approaches the key support. If buyers cannot defend this critical level, then ADA could fall towards 35 cents next. The key resistance is at 41 cents should buyers suddenly return. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/ADAUSDT/MdQ1fHeu-ADA-USDT-1DAY-UPDATE-BY-CRYPTO-SANDERS/

Hello, welcome to this XRP/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- XRP is in red and has closed the past seven days with a 1.5% loss. The price appears on its way to test the key support at 43 cents. This would be the second time XRP tests this support, and could turn out to be a bearish move if buyers don’t return. The key resistance is quite some distance away at 48 cents. The momentum indicators, such as the MACD and RSI, are also bearish, with the RSI falling under 50 points. XRP’s failure to sustain its price above 50 cents in April was a bearish signal, and the market did not hesitate to react. Looking ahead, bears appear to have the upper hand right now, and a break of the key support could see this cryptocurrency go to 40 cents next. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/XRPUSDT/sZKYGXmb-XRP-USDT-1DAY-UPDATE-BY-CRYPTOSANDERS/

VC Darling Crypto Sui Makes Waves With Market Debut, Price Sinks 37% From All-Time High A buzz has been generated around a new layer one (L1) proof-of-stake blockchain initiative named Sui, following the network’s mainnet debut on May 3, 2023. The native token SUI has been listed on various cryptocurrency exchanges, drawing attention to the project. On the same day the network launched, SUI peaked at $2.16 per unit, but has since dropped by 37% from its record high.

FET/USDT 4HOUR CHART UPDATE

ID/USDT 4HOUR CHART UPDATE

ID/USDT 4HOUR UPDATE

Hello, welcome to this ETHEREUM /USDT update by CRYPTO SANDERS. CHART ANALYSIS:-Ethereum Analyzing the daily chart, the price previously formed a higher pattern before experiencing a significant decline. The 50-day moving average at $1.8K acted as a support level, casting a significant shadow on the daily charts and substantial volatility on the lower time frames. Currently, ETH is confined within a narrow dynamic range between the 50-day EMA, which is currently at $1931, and the key resistance area at $2K. If the price manages to overcome the $2K resistance and surpass its previous high at $2.1K, it could potentially trigger an extended rally. Conversely, if there is a break below the 50-day EMA, the 100-day moving average at $1.7K will become a primary support level. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/ETHUSDT/TQuuHmor-ETH-USDT-1DAY-UPDATE-BY-CRYPTO-SANDERS/