Connect with us

Crypto

Bitcoin leads cryptocurrency surge ahead of Federal Reserve’s decision By Investing.com

Published

on

Bitcoin leads cryptocurrency surge ahead of Federal Reserve’s decision By Investing.com

© Reuters.

Cryptocurrencies led by have experienced a surge today, breaking the stagnant trading range that was prevalent since mid-August. Bitcoin, the largest digital asset, saw its price increase by 1%, exceeding $26,750 and distancing itself from the $26,000 benchmark around which it has been trading for the past month. A move beyond $27,000 is seen as a significant milestone for traders, given the recent low volatility and trading volumes in the crypto market.

In anticipation of the Federal Reserve’s decision this week, investors are preparing to analyze the Fed’s language closely for any indications of a potential rate hike in November. This decision is expected to impact cryptocurrency prices, mirroring its effect on the and in the stock market. The central bank is predicted to maintain steady interest rates in its forthcoming announcement on Wednesday.

Over the past year, borrowing costs have reached their highest level in a generation as the Federal Reserve took measures to control inflation. This has exerted considerable pressure on cryptocurrencies and stocks alike because higher returns on risk-free cash often reduce demand for riskier investments like Bitcoin. If there are indications that the central bank could halt rate hikes and possibly lower them next year, this could potentially boost Bitcoin’s recent gains if traders decide to invest more in riskier assets.

Ether, the second-largest cryptocurrency, also saw an increase albeit less than 1%, reaching $1,630. The performance of smaller tokens or altcoins was less dynamic with and Polygon trading slightly above flat. Memecoins presented a mixed picture with falling close to 1% and losing less than 1%.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Crypto

Tether Readies To Mine Bitcoin ($BTC), Will Top-Performing Altcoins Like $ROE Benefit?

Published

on

Tether Readies To Mine Bitcoin ($BTC), Will Top-Performing Altcoins Like $ROE Benefit?

In today’s dynamic world of cryptocurrencies, identifying the best crypto investment opportunities for the long term is paramount. In this article, we delve into a captivating development that has caught the attention of crypto enthusiasts and investors alike. 

Tether, the issuer of the world’s largest stablecoin USDT, is making a bold move into Bitcoin mining in Latin America. This strategic shift not only positions Tether at the forefront of innovation but also raises intriguing questions about the potential benefits for top crypto coins, including the prospects for $ROE

Join us as we explore Tether’s groundbreaking plans and their potential implications on the cryptocurrency landscape.

>>BUY $ROE TOKENS NOW<<

Advertisement

Tether’s Entrée into Bitcoin Mining

Four months have passed since Tether first announced its ambitious plans to enter the world of Bitcoin mining in Latin America. The moment of realization is now at hand, as Tether Energy prepares to deploy its initial mining rigs. 

Paulo Ardoino, Tether’s Chief Technology Officer, has confirmed that Tether Energy is currently in the process of setting up its mining operations at an undisclosed location within Latin America.

In a noteworthy tweet on August 26, Ardoino addressed and dismissed speculations and rumors that had been circulating regarding the progress of the mining project. He assured the crypto community that the project was advancing smoothly, with the entire team working tirelessly to commence operations in the coming weeks. 

Ardoino, however, wisely refrained from disclosing the exact location of the mining farm to avoid unwarranted attention.

Despite this foray the precise timeline for Tether Energy’s integration with the Bitcoin network remains uncertain. Nonetheless, what remains clear is Tether’s unwavering dedication to its objectives, despite the increasing scrutiny from certain factions seeking to undermine the project. 

Advertisement

Tether’s decision to initiate a Bitcoin mining farm aligns with a strategic vision aimed at further decentralizing the network and promoting sustainable worldwide distribution of mining operations. This decision resonates with Bitcoin’s status as the world’s largest blockchain network employing the proof-of-work consensus algorithm.

Potential Impact on Top Crypto Coins and $ROE

Now, let’s turn our attention to the top crypto coins that many investors seek as the best crypto to buy today for long-term gains. Amidst these coins, one that deserves special attention is $ROE, the native token of Borroe.Finance. The Borroe.Finance presale has been generating significant buzz within the crypto community, and for good reason.

At present, the presale has achieved remarkable success, with over 58.13% of the total supply already sold, amounting to an impressive 95,909,451 $ROE tokens. What makes this presale even more enticing is its pricing at the second stage, offering each token at a compelling price of $0.015. Investors looking for a good crypto to buy can turn to Borroe.Finance.

Tether’s entry into Bitcoin mining could have far-reaching implications for both established top crypto coins and promising projects like $ROE. As Tether contributes to bolstering the security and decentralization of the Bitcoin network, it could engender greater investor confidence in the broader cryptocurrency market. 

With Bitcoin’s enhanced stability and appeal, investors may diversify their portfolios by considering the best crypto investments for long-term growth, including top-performing altcoins like $ROE.

Advertisement

>>BUY $ROE TOKENS NOW<<

Don’t Miss Out on Borroe.Finance Presale

The Borroe.Finance ($ROE) presale has been turning heads in the crypto community, and for good reason. It has already achieved a remarkable milestone, with over 58.13% of the total supply already sold, totaling an impressive 95,909,451 $ROE tokens. What makes this opportunity even more enticing is the second-stage presale price of just $0.015 per token. 

For investors seeking the best crypto to buy today for long term gains, this presents a compelling option that should not be overlooked. As the crypto market evolves in response to developments like Tether’s foray into Bitcoin mining, diversifying into promising altcoins like $ROE could prove to be a strategic move that pays dividends in the future. 

So, seize the opportunity and consider participating in the Borroe.Finance presale before it’s too late!

Learn more about Borroe.Finance ($ROE) here:

Visit Borroe.Finance Presale | Join The Telegram Group | Follow Borroe on Twitter 

Advertisement

Continue Reading

Crypto

Paradigm accuses SEC of bypassing rules in Binance lawsuit

Published

on

Paradigm accuses SEC of bypassing rules in Binance lawsuit

Venture capital firm Paradigm has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in its current legal action against the cryptocurrency exchange Binance.

In a statement released on Friday, Sept. 29, Paradigm stated the SEC is attempting to use the allegations in its complaint to alter the law without adhering to the established rulemaking process. Paradigm firmly believes that the SEC is exceeding its regulatory boundaries and further stated that it strongly opposes this tactic.

In June, the SEC initiated legal action against Binance, accusing it of multiple violations of securities laws, such as operating without the necessary registration as an exchange, broker-dealer or clearing agency. Paradigm also underscored that the SEC has been pursuing similar cases against various cryptocurrency exchanges lately and voiced apprehension that the SEC’s stance “could fundamentally reshape our comprehension of securities law in several critical aspects.“

Screenshot of Paradigm’s amicus brief  Source: Paradigm

Additionally, Paradigm highlighted concerns regarding the shortcomings of the SEC’s application of the Howey test. The SEC often relies on the Howey test — originating from a 1946 U.S. Supreme Court case involving citrus groves — to determine whether transactions meet the criteria for investment contracts and fall under securities regulations.

In its amicus brief, Paradigm asserted that many assets are actively marketed, purchased and traded based on their profit prospects. Nevertheless, the SEC has consistently exempted them from being classified as securities. The brief further pointed out instances such as gold, silver and fine art, underscoring that merely having the potential for value appreciation does not inherently classify their sale as a security transaction.

Advertisement

Related: Binance Russia buyer tightlipped on owners, denies CZ involvement

USD Coin (USDC) issuer Circle has recently become a participant in the ongoing legal dispute between Binance and the SEC. Circle believes the SEC should not categorize stablecoins as securities.

Circle argues that these assets should not be categorized as securities because individuals acquiring stablecoins do not do so to derive profits.

Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?