• Coinbase, America’s largest crypto exchange, is reportedly in talks to set up a new digital asset trading platform overseas that can offer access to global clients.
• The discussions have yet to establish a precise location for the global marketplace, however the exchange has already made contact with market makers about how to connect to it.
• The talks occur as regulators forced Silicon Valley Bank and Signature Bank – two of the nation’s biggest crypto banking partners – to close their doors over the weekend.

Coinbase Moving Abroad?

As U.S. regulators press their attack, Coinbase may be establishing an overseas venue for servicing global clients. The exchange is reportedly in talks to set up a new digital asset trading platform outside of the United States that would provide access to customers around the world.

Location of Exchange

The discussions are confidential and it is still unclear where exactly this new platform will be located. However, Coinbase has already made contact with market makers regarding how they can connect with it.

Regulatory Pressure

This news comes at a time when U.S regulators are increasing their pressure on cryptocurrency companies. Last weekend, Silicon Valley Bank and Signature Bank – two of the country’s biggest crypto banking partners – were both forced by regulators to shut down operations. This closure may put further strain on companies like Coinbase who had recently switched from Silvergate bank over to Signature Bank earlier this month for its services. Some reports suggest that former crypto clients of Silvergate have been retreating to Swiss banks this week due to these issues..

Coinbase Response

Coinbase Chief Operating Officer Emilie Choi commented on these developments during an earnings call last month saying “International expansion is going to continue to be a very core part of how we operate.“ This statement indicates that despite recent difficulties, Coinbase plans on continuing its international growth strategy in order to remain competitive in today’s rapidly changing industry landscape..

Conclusion

It appears that Coinbase is taking serious steps towards expanding into new markets abroad amidst regulatory pressures in the United States closing some major cryptocurrency banking partnerships such as Silvergate and Signature Banks within just one week’s time frame.. Ultimately, only time will tell what happens next for this company but all signs point towards further international growth in order for them stay ahead of competitors..

• Reports say that US crypto exchanges could face a class action lawsuit due to illegal sales of unregistered securities.
• Leading securities lawyer Tom Grady is preparing potential litigation against America’s largest crypto companies, including Coinbase, Robinhood and Kraken.
• Congress has yet to officially classify digital assets as securities, so regulators such as the SEC have been taking things into their own hands.

US Crypto Exchanges Could Face Class Action Lawsuit: Reports

It appears that the war on crypto in America is heating up, with reports indicating that exchanges could be the next targets for regulatory wrath. According to a March 9 Fox Business report, leading securities lawyer Tom Grady is preparing for potential class action litigation against major American crypto companies, including Coinbase, Robinhood and Kraken.

Allegations of Illegal Sales of Unregistered Securities

Grady believes these companies may have violated the law by selling unregistered securities to retail investors, who may now be entitled to recover their losses from these purchases. In a press release shared with the outlet, Grady stated: „We believe Coinbase, Robinhood, and other exchanges have violated the law.“

Digital Assets Yet To Be Officially Classified

The issue of whether or not digital assets should be classified as securities remains unresolved – Congress has yet to make an official ruling on this matter. Consequently, regulators such as the SEC have been taking matters into their own hands in order to protect retail investors from any potential scams or frauds that may arise in this sector.

Class Action Lawsuit Could Have Far-Reaching Implications

Should a class action lawsuit be successful against these exchanges it could have far-reaching implications for the entire cryptocurrency industry in the United States – something which many would argue is already under threat from government regulation.

Seeking Clients Who Lost Money From Crypto Investments

As well as preparing for possible class action litigation against America’s top crypto companies, Grady also seeking out clients who have lost money through investments made on these platforms in order to represent them in court if necessary.

• Arthur Hayes, co-founder of BitMEX, published an essay on Thursday discussing potential situations that could lead to a global oil supply shortage.
• These scenarios include Iran closing the Strait of Hormuz, large oil producers materially reducing their production, and critical oil/gas infrastructure taken offline due to sabotage.
• Such a scenario would cause central banks across the world to return to a market-friendly loose monetary policy and make Bitcoin’s price skyrocket as a result.

Oil Supply Shortage

Arthur Hayes, co-founder of BitMEX published an essay on Thursday outlining „realistic potential situations“ that could lead to an oil supply shortage across the globe given current geopolitical tensions. The former CEO argued that such a scenario would cause central banks across the world – including the Federal Reserve – to return to a market-friendly loose monetary policy and make Bitcoin’s price skyrocket as a result.

Potential Scenarios

Hayes described three possible futures that could lead to an oil supply shortage: Iran escalating its conflict with Israel/ Saudi Arabia by closing the Strait of Hormuz, large oil producers (Russia, Saudi Arabia, etc) materially reducing their production, or critical oil/gas infrastructure being taken offline due to deliberate sabotage. According to Hayes, the first scenario is most likely since Iran’s Uranium enrichment could motivate Israel and Saudi Arabi to take military action against them. By closing the Strait of Hormuz, 17.3 million barrels per day would be removed from global markets making marginal costs per barrel extremely high.

Economy Impact

Such incidents would have catastrophic economic impacts for countries dependent on imported energy resources such as Japan and India. Additionally it would have serious implications for transportation industries in Europe and North America who rely heavily on gasoline powered vehicles and diesel fuel for commercial transport services such as shipping companies or airlines which are already struggling with rising fuel prices dueto COVID-19 travel restrictions.

Monetary Policy

In order to combat these economic repercussions caused by soaring energy prices in international markets central banks around the world may be forced into returning towards more accommodative policies such as quantitative easing (QE). This type of policy aims at increasing money supply through buying bonds from financial institutions in order maintain low interest rates while attempting stimulate economic activity through increased liquidity in financial markets which can ultimately increase inflationary pressures causing currencies like US dollars devalue significantly over time if left unchecked for extended periods of time .

Bitcoin Price Surge

The influx of new money into financial markets has caused investors flock away from traditional investment classes such as stocks bonds or commodities towards digital assets which provide investors with protection against inflationary pressures associated with QE programs . As result cryptocurrencies like Bitcoin tend experience significant gains when central bank policies become increasingly accommodative since they are not subject same regulatory constraints normal fiat currencies are subjected too .

•Crypto markets lost $40B over the weekend as Bitcoin dropped to a 10-day low.
•The US PCE inflation metric increased by 0.6% for January, resulting in a sharp price drop of BTC from $24,000 to just under $23,000.
•Altcoins such as MATIC, DOT, UNI also reported substantial losses.

Overview

This article looks at how the crypto market cap lost the $1.1 trillion mark and how Bitcoin dropped to a ten-day low over the weekend due to an increase in US PCE inflation metric which resulted in a sharp price drop of BTC from $24,000 to just under $23,000. Additionally, altcoins such as MATIC, DOT and UNI reported substantial losses.

Bitcoin Drop

At the end of last week Bitcoin skyrocketed by double digits to chart a six-month high above $25,000 but failed to break that line at first with quick rejections on all three attempts. The latest attempt pushed it south down to $23,500 after which the bulls tried intercepting it back up above $24,000 hours later. However when the US announced that their PCE inflation metric had increased by 0.6%, BTC reacted with a sharp price drop down below $23K thus recording its lowest tag in ten days.

Altcoin Losses

Not just Bitcoin but most of the cryptocurrency market was affected resulting in substantial losses for altcoins like MATIC and DOT along with UNI who recorded some of the most significant drops among all other coins this past weekend.

Mobile Responsive Design

The article includes various design changes for mobile devices such as increasing avatar size on small screens and reducing font size for meta spans so that users can better read and understand content on smaller devices without losing out any details or information pertaining to this article’s topic matter.

Summary:
• NBA Hall-of-Famer Paul Pierce has been charged by the SEC for promoting the Ethereum Max token on his social media accounts.
• He agreed to pay a penalty of $1,115,000 plus approximately $240,000 in disgorgement and prejudgment interest.
• The SEC alleges that Pierce fraudulently promoted the purchase of the EMAX token without publicly disclosing that EthereumMax paid him over $244,000 in EMAX for promoting it.

SEC Charges NBA Hall of Famer Paul Pierce

NBA Hall-of-Famer Paul Pierce has been charged by the Securities and Exchange Commission (SEC) for being involved in the promotion of Ethereum Max. On February 17, he was charged with illegally promoting the EMAX token on his social media accounts.

Agreed to Pay Penalty of Over $1 Million

Pierce has agreed to pay a penalty of $1,115,000, plus approximately $240,000 in disgorgement and prejudgment interest, without admitting or denying guilt. To avoid greater sanctions from regulators he is also prohibited from promoting any crypto asset securities for three years.

Promoted Fake Investments to Promote EMAX?

The SEC alleges that Pierce fraudulently promoted the purchase of the EMAX token without publicly disclosing that EthereumMax paid him over $244,000 in EMAX for promoting it. He even posted screenshots of a fake account that showed significant profits and holdings using EMAX but his own personal holdings were much lower than those in the screenshot.

Penalty For Fraudulent Promotion

For his fraudulent promotional activities regarding EthereumMax’s offering and sale of its digital asset security tokens known as “EthereumMax” or “EMAX” tokens — Pierce faces a penalty payment to SEC amounting to more than one million dollars ($1 M). Additionally he is barred from engaging in any kind of promotion related activities associated with digital asset securities for three years period starting from February 17th 2023 onwards.

Conclusion

The case against Paul Pierce serves as an example warning others not to engage with fraudulent activities such as illegal promotions or misuse information about investments related to crypto assets securities . It’s important for investors and promoters alike to ensure they are aware about all legal requirements before entering into any financial transaction involving digital assets securities.

• Tron generated $48 million in revenue in Q4 2022, a 25% increase compared to Q3.
• Average active daily addresses and average daily transactions surged from 2.6 million and 5.3 million respectively in Q3 to 3.1 million and 6.5 million in Q4 2022.
• The success of Tron during the fourth quarter of 2022 was achieved despite unfavorable macroeconomic conditions and the crash of Terra, FTX, and other cryptocurrency platforms earlier in the year.

Tron Generates $48 Million Revenue During Q4 2022

A recent research by Messari revealed that Tron generated a revenue of $47.9 million in the last quarter of 2022, a 25% increase compared to the previous quarter (Q3). This success was achieved despite the unfavorable macroeconomic conditions throughout the year as well as the crash of Terra, FTX and other cryptocurrency platforms earlier on.

Average Active Daily Addresses Increase

The research further highlighted that average active daily addresses increased from 2.6 million in Q3 to 3.1 million during Q4 2022, while average daily transactions also rose from 5.3 to 6.5 million within this period. In addition, average transactions per second climbed from 62 to 76 over the same time frame.

Q2 Still Most Productive Quarter for Tron

Despite its impressive performance during the fourth quarter of 2022, it is worth noting that Tron’s most productive quarter remains Q2 which saw it generate a profit of $48

• XRP’s price has been unable to break a critical resistance level of $0.43 over recent weeks.
• Against Bitcoin, the cryptocurrency has been on the decline for the last few weeks and broke below the 0.000018 support level.
• If the 0.000018 level is confirmed as broken, further drops towards 0.000015 are expected in coming weeks.

Ripple Price Analysis

XRP’s price has not yet shown any significant strength as it continues its struggle to surpass a critical resistance level of $0.43 over recent weeks.

XRP/USDT Daily Chart

On the daily chart, the price has been consolidating in a tight range below this resistance level for quite a while, with the 200-day moving average located around $0.4 providing support and preventing further drops.

If this resistance is finally broken to the upside, XRP could rally towards $0.55 in short term; however, if rejection occurs then 50-day moving average around $0.37 would be first potential support before key $0.3 area.

XRP/BTC Daily Chart

Against BTC, XRP has been declining for few weeks and 0.000018 major support was broken to downside.

A confirmation of this breakdown will potentially lead to further drop towards 0.000015 in coming weeks; however, RSI approaching oversold area may indicate fake breakout.

• The LOOP Design Awards recently honored El Salvador’s Bitcoin City for its innovative architecture and interior design.
• The city will be powered by the energy released from the Conchagua volcano, and BTC will be its official currency.
• The jury highlighted the metropolis‘ innovative interior style and its beautiful surrounding nature.

El Salvador’s Bitcoin City has recently won an international design award, honoring its innovative architecture and interior design. The LOOP Design Awards recognized the project among 700 other proposals, highlighting its exceptional features.

The Bitcoin City of El Salvador is the brainchild of President Nayib Bukele and is designed to be a futuristic, sustainable metropolis. It will be powered by the energy released from the Conchagua volcano and BTC will be its official currency. The jury noted the city’s innovative interior style and its beautiful surrounding nature. They also praised the modern building materials used in the construction, such as glass, concrete, and steel.

The jury also mentioned the city’s cutting-edge smart home infrastructure, which will allow residents to connect various appliances, such as lighting, heating, cooling, and security systems. The city will also be equipped with a state-of-the-art transportation system and will include a number of parks and green spaces.

The city is set to be the perfect blend of innovation and sustainability. It will be an example of the new trend of smart cities, which are designed to make life easier for residents. The city is expected to be a major hub for business, technology, and culture, and will attract entrepreneurs from around the world.

El Salvador’s Bitcoin City is an ambitious project, and its award-winning design is a testament to the country’s dedication to innovation and progress. With its cutting-edge infrastructure, sustainable energy sources, and BTC as its official currency, the city is set to be a revolutionary example of the future of urban living.

• Bitcoin has initiated an explosive rally after finding support amid the $16K price level.
• The price of BTC surpassing the 100-day and 200-day moving averages at $18K and $19.6K is a significant bullish sign for the market.
• However, there is an apparent bearish divergence between the price and the RSI indicator on the daily timeframe, which could result in a need for a correction over the next days and following the rally.

The cryptocurrency market has been highly volatile over the past few months, with Bitcoin experiencing several sharp sell-offs and rallies. Most recently, Bitcoin has initiated a rally after finding support in the $16K price level. This is a major positive sign for the overall cryptocurrency market, as BTC rose above the 100-day and 200-day moving averages at $18K and $19.6K respectively.

The surge in price above the long-term moving averages is a significant bullish sign for the market, as it suggests that the buyers are gaining more control of the market. If the bulls maintain the MA-200 level, ample demand can be expected to return to the market, and the sentiment will remain in the short term. However, there is an apparent bearish divergence between the price and the relative strength index (RSI) on the daily timeframe, which could result in a need for a correction over the next few days and following the rally.

The daily chart of the BTC/USD pair shows that the buyers have managed to push the price above the long-term moving averages. The 4-hour chart of the pair shows that the price is currently trading above the MA-200 and is also above the 21-EMA and 50-EMA levels. The RSI indicator is currently in the overbought region, which suggests that the price is likely to face a correction in the near term.

Moreover, the MACD indicator is currently in the bearish zone and is also below the signal line, which suggests that the price could face selling pressure in the near term. On the other hand, if the bulls manage to push the price above the $20K level, it could open the doors for further upside in the near term.

Therefore, it is essential for traders to keep an eye on the key technical levels and indicators to determine the next major direction for Bitcoin. If the price fails to stay above the MA-200 level, it could result in a major sell-off in the near term. On the other hand, if the bulls manage to maintain the price above the MA-200 level, it could open the doors for further upside in the near term.