🗞 Daily Crypto News, June, 23rd 💰

Bitcoin And Ether Rally, Other Altcoins Might Follow Soon;
Crypto Exchanges Must Stop Acting Like Casinos in Wake of Robinhood Suicide: bitFlyer COO;
‘Big 4’ Auditor KPMG Launches Crypto Asset Management Tools;
Chinese Bitcoin miner manufacturer Ebang listing on the NASDAQ this week !;
LibertyX Lets Americans Buy BTC at 7-Eleven, CVS Pharmacy, Rite Aid;
🗞 Daily Crypto Calendar, June, 23rd 💰

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Bitcoin And Ether Rally, Other Altcoins Might Follow Soon

Bitcoin price surged above the key USD 9,550 resistance area.

Ethereum rallied more than 4%, but XRP is struggling to clear the USD 0.190 resistance.

DGB and BCD are up over 20% today.

In the past few hours, bitcoin price gained bullish momentum and rallied above the main USD 9,550 resistance level. It opened the doors for more gains and BTC traded close to USD 9,800. The price is currently correcting lower, but dips are likely to find a strong buying interest near USD 9,600 and USD 9,550.

Most major altcoins are also showing positive signs, including ethereum, XRP, litecoin, bitcoin cash, BNB, EOS, TRX, ADA, and XLM. ETH/USD outperformed and gained more than 4% to clear the USD 240 resistance level. On the other hand, XRP/USD is trading flat and it is still struggling to clear the USD 0.190 resistance zone.

Bitcoin price

Recently, bitcoin price saw a sharp increase above the USD 9,500 and USD 9,550 resistance levels. BTC traded close to the next resistance at USD 9,800 before correcting lower. There was a break below the USD 9,700 level, but the price is currently (08:30 UTC) trading above USD 9,600. The main support is now seen near USD 9,550.

Ethereum price

Ethereum price outperformed most major altcoins and gained more than 4%. ETH broke the USD 240 resistance and traded close to the USD 250 level. The price is now trading near USD 245 and dips towards USD 240 might find strong bids.

🗞 Crypto Exchanges Must Stop Acting Like Casinos in Wake of Robinhood Suicide: bitFlyer COO

The suicide of a 20-year-old Robinhood trader should be a wake-up call for cryptocurrency exchanges that put revenue above customer protection, said a U.S. exec at one of the world’s largest such venues.

Many exchanges were designed to encourage users to trade as frequently as possible, often with money they don’t have, and resembled casinos more than responsible trading platforms, said Joel Edgerton, chief operating officer at bitFlyer U.S.

“There are too many exchanges that are run like casinos and exploit their customers,” he said.

Edgerton spoke to CoinDesk just over a week after a 20-year-old student, Alexander Kearns, killed himself after falsely believing he had got himself into more than $700,000-worth of debt by trading complex options contracts on Robinhood – an app-based trading platform with a young, retail-oriented following.

🗞 ‘Big 4’ Auditor KPMG Launches Crypto Asset Management Tools

KPMG has built a suite of tools designed to help both traditional financial companies and fintech startups provide tightly managed crypto-asset services.

Targeting institutional clients, the new KPMG Chain Fusion product lets customers manage their data in compliance with regulations around financial reporting, security and processing needs. The suite allows these customers to collect and organize data from both traditional systems as well as blockchain databases, the company announced Monday.

Sam Wyner, director and co-lead of the Big 4 auditor’s Cryptoasset Services team, told CoinDesk that his team had been working on the project for about a year, building the actual suite of tools since February.

🗞 Chinese Bitcoin miner manufacturer Ebang listing on the NASDAQ this week !

To the best of my knowledge this would be the 2nd miner juggernaut to be listed in the Stock Market.

This is not their first try as they unsuccessfully attempted to conduct a $1bn IPO in Hong Kong back in 2018.

The current amount that they are trying to raise just show how the profitability and excitement has kind of faded away.

Today, almost 2 years later they are raising capital at a valuation of $880mn (-12% vs 2018's goal) and they probably burned cash during the past 2 years.

The first one was Canaan, another Chinese mining company

In November 2019, Canaan became the first Bitcoin mining giant to be listed on a U.S. stock exchange, it raised $90mn at $9 per share.

Well it did not work as expected as the shares are now trading under 2$ not even a year after the IPO.

Full article here

🗞 LibertyX Lets Americans Buy BTC at 7-Eleven, CVS Pharmacy, Rite Aid

A company that brought one of the first bitcoin (BTC) ATMs in the US has now enabled customers in thousands of retail locations across the country to buy the world's oldest cryptocurrency.

LibertyX launched America's first bitcoin ATM in 2014, and has been "growing ever since," per its website.

The firm has expanded its base of "thousands" of local stores, standalone debit kiosks and traditional ATMs, allowing for the instant purchase of BTC in 20,000 retail outlets, including major convenience store and pharmacy chains, such as 7-Eleven, CVS Pharmacy and Rite Aid, per a press release.

Chris Yim, Co-Founder & CEO of LibertyX, said in the press release:

"Now, everyone is only a few miles away from owning bitcoin and becoming part of its global community. Buying bitcoin is as easy as scanning a barcode while shopping for groceries."