Mazars suspends audits for crypto exchanges, which include Binance, KuCoin, and Crypto․com, Bloomberg reports. what the freak!?!?
Sam Bankman-Fried’s Family Requests Vegan Meals for him at Bahamas Prison
The New York Post reported that Sam Bankman-Fried's family called a Bahamian jail and demanded vegan food for him. Additionally, the report notes that sources say the correctional facility is "notoriously infested with rats and maggots." Additionally, the report notes that he is being held in his maximum security section of the Bahamas prison, Bankman-Fried said on February 8, the day of his extradition hearing. I will stay there until the day.
Weird stuff in the market as a whole.
Bank of International Settlements announces a new policy that allows banks to hold 2% of reserves in cryptocurrency.
It was a cold winter that perfectly capped a pretty bad year for the cryptocurrency industry. The FTX collapse was made worse by the already underperforming various digital assets. Today, the industry is poised to move forward with a new outlook and market needs.
In the
agenda, the Bank for International Settlements announced a new policy allowing banks to hold 2% of their reserves in cryptocurrencies. Additionally, this decision is underscored in the careful handling of the cryptocurrency exposures document that arrived this month.
The second BIS consultation release in June on the prudent treatment of bank exposures to crypto assets outlined similar aspects of the classification. Conversely, this document implemented a policy that allowed banks to hold 1% of their reserves in cryptocurrencies.
This created a lot of bullish thoughts in the market followed by Trump releasing his NFTs. Many influencers who are short on the Market right now Like Capo are calling this a capitulation phase by making people buy right now and pushing the price a little up, creating FOMO, and ultimately dumping the market. let's see how it goes...
The Trump
Source
Firstly he did not have good thoughts about cryptocurrency...
Calculation
Number of NFTs sold: 45000
Price: $99
Total Sale Amount: $4.5 Million
Great...
Jim Cramer
A CNBC pundit tweeted his latest take on the world's largest crypto exchange platform by volume. Jim Cramer says Binance has no real legitimacy following the demise of FTX. Cramer also told his followers that he would rather leave his money with the "Conscription King" than his money changer. Even more confusing is that the statement was made just 48 hours after Cramer settled down about his Binance.
Few people in the financial world are more famous and controversial than Jim Cramer. He's been the face of CNBC for over a decade, and his analysis has been controversial.
Source: CNBC
Specifically, Cramer explains: Why can't those in power admit that Binance has no real legitimacy after what happened on FTX?"
Cramer then added that he would entrust the funds to the sports betting site through a crypto entity. “I would trust my money to DraftKings more than Binance,” Cramer said. It's about feeling "safe" with Binance.
HIVE and CUB
CUB still looks good as per the data. Found this dashboard through threads. Volume is still comparatively good than the previous week although a constant decline is present. Recent market bleeds muchnegatively affect this datay significantly. Let's see how everything goes.
For HIVE, it is still not an extremely critical situation but a risky situation where HIVE is sitting. $0.28 is a very strong local support level and due to the recent bleed, Hive again approached it, lets's wait for either a bullish or bearish reaction but I don't want it to be sitting here for very long because if it does then there will be more chances for a negative impact on the price.
LeoFinance
New updates are around the corner with new UI and arb bot 2.0 for CUB which could even increase revenue by 2-3x. You must check the CUB monthly report for further details.
Thanks for going through the post and I hope you must have attained value from it and also, later on, enjoyed it, I am glad if you did. Rest, this all is not financial advice but rather my thoughts being shared here and also just for entertainment purposes. Keep having fun and remember the world cup, LeoFinance is also an official sponsor of the Hivebuzz world cup contest therefore, keep supporting them and the community. Have an amazing rest of your day!
SANJAM