Crypto

Super-angel billionaire Ron Conway blindsided by crypto allies: report

Published

2 hours ago

August 19, 2024

Super-angel billionaire Ron Conway blindsided by crypto allies: report

Billionaire venture capital investor Ron Conway reportedly cut ties with a cryptocurrency super PAC called Fairshake after the group said it would support the Republican running against Sen. Sherrod Brown (D-Ohio), according to a Politico report.

Brown is the longtime chair of the Senate banking committee and has raised concerns about cryptocurrency in the past, particularly after the disastrous $30 billion collapse of crypto exchange FTX in 2022. Last week, a network of crypto-funded super PACs announced it would spend $12 million to support Brown’s challenger, Republican Bernie Moreno, who is crypto friendly. According to Politico’s report, Conway was incensed to discover the financial support to Moreno and wrote in an email reported by the outlet that he had plans to discuss Democratic lawmakers’ views on digital assets with Sen. Chuck Schumer (D.-N.Y.) when he learned.

“You all know that is ‘slap in the face’ to Sen. Schumer And a ‘slap in the face’ to me when you know Im meeting him in SF tomorrow. How short sighted and stupid can you possibly be?” Conway wrote, according to the report. He also complained emphatically about being blindsided by the news

“NOT ONE PERSON BOTHERED TO GIVE ME A HEADS UP THAT YOU WERE DOINIG [sic] THIS,” Conway wrote. Conway said he was finished with the group due to a lack of shared values.

Conway is a major Democratic donor who has endorsed Democratic presidential nominee and Vice President Kamala Harris and is among the roughly 100 venture capitalists and founders who have joined VCs for Kamala. Conway has donated about $500,000 to two different Harris-related funds, with his latest $25,000 pledge at the end of June. Once dubbed the “Godfather of Silicon Valley,” Conway is managing partner and founder of SV Angel, and his firm has been involved in the successes of Airbnb, Facebook, Google, and Twitter. He has also invested in at least 10 crypto firms, including Coinbase and Uniswap.

Fairshake donors include high-profile cryptocurrency investors and other players, including Coinbase, Ripple, venture firm a16z, and Union Square Ventures. As of last month, the super Pac’s balance was $161 million.

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Crypto

Bitcoin, Ethereum, Dogecoin Begin The Week In Red, 'All Of BTC Recent Chop…Preparation For Next Phase Into $100,000s'

Published

9 hours ago

August 19, 2024

Press Room

Bitcoin, Ethereum, Dogecoin Begin The Week In Red, 'All Of BTC Recent Chop…Preparation For Next Phase Into 0,000s'

Cryptocurrency markets are down on Monday but holding on to crucial trend lines, fueling predictions for a reversal.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$58,971.76	-1.3%
Ethereum ETH/USD	$2,606.37	-2.4%
Solana SOL/USD	$142.95	-2.5%
Dogecoin DOGE/USD	$0.1004	-2%
Shiba Inu SHIB/USD	$0.00001318	-2.2%

Notable Developments:

Notable Statistics:

IntoTheBlock data shows Bitcoin’s large transaction volume increased by 12.5% in the past 24 hours. Daily active addresses decreased by 4.2%, exchange netflows surged by 1,243.07%. 81% of Bitcoin holders are currently in profit.
Coinglass data shows 43,284 traders were liquidated in the past 24 hours, total liquidations came in at $105.24 million.

Top Losers:

Cryptocurrency	Price	Gains +/-
Sats (CRYPTO: 1000SATS)	$0.0002865	-6.2%
Brett (Based) BRETT/USD	$0.07609	-5.8%
Ondo ONDO/USD	$0.6766	-5.1%

Trader Notes: Daan Crypto Trades, in his latest post, noted that September has historically been the worst month for Bitcoin, although last year’s exception led to a seven-month green rally. Bitcoin’s August returns are thus far in line with the past two years.

Javon Marks predicts Bitcoin’s path to lead to $116,000, as it comes off “a major Hidden Bull Divergence pattern.” He sees the first pushback above the $67,559 target taking a massive breakthrough for the next phase of this bull cycle.

He also added that the recent chop after meeting $67,559 the first time could be a preparation for the next phase into the $100,000s.

Bitcoin’s Path To >$116,000:
As #Bitcoin (BTC) is still coming off of a major Hidden Bull Divergence pattern, sights can remain on a push back above the $67,559 target, which can be a massive breakthrough for the next phase of this bull cycle.
With a break + hold that target,… https://t.co/sx3K3QfUFb pic.twitter.com/ITrFjuYcOq
— JAVON⚡️MARKS (@JavonTM1) August 19, 2024

Bitcoin Ape sees Bitcoin holding up well on its upwards trend line despite recent dips and volatility. He added, “The $62,300 resistance is a key area to watch for Bitcoin and flipping this zone will ignite bullish sentiments once more.”

However, he added that there are many factors in play including the U.S. elections in November.

Another crypto trader More Crypto Online sees holding $58,460 to reach the next key level of $59,729. He noted that “price action is not clearly impulsive, so we have to remain flexible.”

$BTC: The price has broken above the first trend line and seems to have broken above the daily price range. However, price action is not clearly impulsive, so we have to remain flexible. To keep this micro structure alive for wave (c), wave (3) should reach $59,729+ next, while… pic.twitter.com/z2CqaOJKjx
— More Crypto Online (@Morecryptoonl) August 19, 2024

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next:

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs

Crypto

Seven Casino Unveils Next-Generation Digital Platform – Press release Bitcoin News

Published

16 hours ago

August 19, 2024

Press Room

Seven Casino Unveils Next-Generation Digital Platform – Press release Bitcoin News

PRESS RELEASE. Seven Casino, the trailblazer in online gaming, is thrilled to announce the official launch of its groundbreaking digital platform, setting a new standard for the online casino industry. With its cutting-edge technology, unparalleled user experience, and an expansive selection of games, Seven Casino is poised to revolutionize the way players engage with online […]

Crypto

Crypto Exchanges Flocking Towards Turkey: Coinbase, KuCoin Apply for Licence

Published

23 hours ago

August 19, 2024

Press Room

Crypto Exchanges Flocking Towards Turkey: Coinbase, KuCoin Apply for Licence

Coinbase, KuCoin, Gate.io, and several other small and large cryptocurrency brands are now attempting to obtain business licences in Turkey, according to an updated list published by the Capital Markets Board of Türkiye.

Top Companies Seek Turkish Licence

First published on August 9, the list included 47 names of cryptocurrency companies. However, it was later updated to add more names, bringing the total to 76.

“The list published here has been created to inform the public about the organisations that declared that they will operate in accordance with the Temporary Article 11 of the Capital Markets Law No. 6362 (Law),” a preface to the list of the companies noted (translated from Turkish).

“In this context, the existence of the ‘List of Those Operating’ does not mean that the organisations included in this list are authorised in accordance with the relevant legislation.”

Finance Magnates

A part of the list of crypto firms seeking Turkish license; Source: Capital Markets Board of Türkiye

No Crypto-Specific Regulation

The names appeared when cryptocurrency regulations in Turkey were in a state of flux. The industry is being regulated by existing market regulations as there is no specific crypto regulation framework in the country. In January, the country’s Treasury and Finance Minister Mehmet Şimşek indicated the completion of proposed crypto-specific legislation; however, no draft has yet been revealed.

Interestingly, Binance recently terminated all its marketing activities in the country, citing regulatory compliance. Although Turkish clients can still access the largest crypto exchange by trading volume, it has decided to gradually turn off Turkish language options within three months.

Binance’s name is also in the latest list of cryptocurrency companies published by the Capital Markets Board of Türkiye. Other notable names are Bitfinex, Crypto.com, and BitBNS.

Turkey has also witnessed a massive surge in demand for cryptocurrencies. The country ranks fourth in terms of trading volume, with $170 billion, only behind the United States, India, and the United Kingdom.

MENA countries by crypto trading volumes; Source: Chainalysis

The rise in cryptocurrency demand can be correlated with Turkey’s struggling economy. The value of the Turkish lira has plummeted by more than 82 per cent against the US dollar in the last five years, now at its lowest level ever.