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Crypto Daily Roundup, 21 Feb: Crypto World Pauses for FOMC

21-Feb-2024 By: Lokesh Gupta
Crypto Daily Roundup

Crypto currency prices dipped over the past 24 hours

TOP 5 Losers Coins

IndicesLTPChange (%)
Starknet$1.9118.65%
Arweave$13.9811.23%
SATS$0.000470910.20%
Bonk$0.000011689.33%
Beam$0.31938.98%

Crypto News Key Highlights:

  • Binance launches Portal (PORTAL), its 47th Launchpool Project, revolutionizing gaming with cross-chain interactions. PORTAL's listing on Binance, set for 2024-02-29, offers diverse trading pairs. With 1B max token supply and 50M tokens for the Launchpool, PORTAL aims for scalability and growth in the gaming ecosystem.

  • Today, investors anticipate insights from the Federal Reserve's January FOMC meeting minutes, revealing policymakers' stance on potential rate cuts amidst mixed economic signals. Recent CPI data suggests inflation challenges persist, possibly delaying anticipated rate cuts until July. The Fed maintains interest rates unchanged at 5.25% to 5.5%.

  • Amid Nigeria's crypto scrutiny, Binance pledges compliance, user protection. Proactive steps include monitoring, removing non-compliant ads, and enhancing security. Govt. concerns over currency manipulation prompt regulatory tensions. Despite uncertainties, Binance commits to transparency, innovation, and market integrity. It assures users of fund security and regulatory engagement.

  • Fairshake, a crypto super PAC, disclosed $4.9 million donations from Cameron and Tyler Winklevoss, adding to its $6.3 million January funding from crypto firms like Coinbase and Ripple. With a focus on pro-crypto candidates, it spent $1 million on TV ads and $3.6 million opposing Democratic candidate Katie Porter.

  • Ripple CEO Brad Garlinghouse discussed the potential for an XRP ETF in an exclusive Bloomberg interview, sparking market speculation. While not confirming talks with BlackRock, he highlighted the benefits of ETFs for market dynamics. Despite rumors, XRP ETFs are absent in the US but available in Europe.

  • Coinbase secures a groundbreaking ad deal on Liquid Death cases for $500,114, reaching over 500,000 cases. This strategic move aims to boost brand visibility across US retailers, leveraging innovative marketing avenues. Payment in USDC yields cost savings, highlighting Coinbase's commitment to efficient financial solutions.

  • Arthur Hayes criticizes Cardano's lack of impactful dApps, calling it "dog shit" in a post. He questions ADA's absence in fee acquisition dominance, sparking debate. Despite positive personal remarks between Hayes and Hoskinson, the Cardano founder faces criticism for ADA's performance and recent price action. 

  • In the ongoing lawsuit against former Binance CEO Changpeng Zhao, the US DOJ seeks a protective order due to sensitive information. CZ faces an 18-month prison term for AML violations. The proposed order restricts public access to discovery materials and sensitive witness identities, aiming to safeguard confidentiality.

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. #Cryptocurrency and #NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also read - Bitcoin Price Prediction: Sink or Soar After FOMC Minutes

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