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Check out U.Today's selection of the top three news stories from the past day.
The US government can sell 69,000 bitcoins
The US government has allowed To liquidate 69,370 Bitcoin Captured from the Silk Road market. The claimants (Battle Born Investments, First 100, and 1st One Hundred Holdings) sought to temporarily halt this implementation while pursuing a separate lawsuit seeking to uncover the identity of “Individual This hacker was allegedly threatened by imprisoned Silk Road founder, Ross Ulbricht. The claimants wanted to rely on the Freedom of Information Act (FOIA) to reveal the hacker's identity, but the US District Court for the Northern District of California ruled in the government's favor. This means that the government can move forward with liquidating the confiscated Bitcoin wealth. However, liquidation may negatively impact Bitcoin prices, which are already struggling to gain momentum.
XRP Price Defends Key Bollinger Bands Level: Is It Bullish?
The price of XRP encountered Important test Yesterday, January 9th. After the recent decline of 6.2% at the beginning of the week, the asset found a bottom at the 20-day moving average, which serves as the average in the Bollinger Band indicator. After briefly closing above this average, XRP saw a 4.51% rebound, but this was halted by news of the US Department of Justice approving the sale of Bitcoin seized from Silk Road; This announcement triggered a massive market-wide sell-off, sending the price of XRP plummeting once again. Despite this, XRP managed to hold above the average Bollinger band, maintaining a bullish outlook; However, it is possible to retest this level again, which would mean a further decline of 1.48%. If this retest proves successful, it will likely reach the upper limit of the Bollinger Band at $2.51, offering the potential for significant gains.
Gensler criticizes cryptocurrencies before his exit
Being in the final days of his term as Chairman of the US Securities and Exchange Commission, Gary Gensler repeat His concerns about the cryptocurrency industry, arguing that it is “full” of bad actors. During his last appearance Speaking with Bloomberg TV, Gensler noted that the public is well aware of Bitcoin, which makes up 80% of the market capitalization. However, he also noted that there are between 10,000 and 15,000 projects that lack fundamental support, noting that they are largely driven by sentiment rather than fundamentals. The president expressed doubts about the survival of many of these projects, comparing them to venture capital investments, and adding that there was also a fair amount of "pump and dump schemes." Speaking about his upcoming departure, Gensler said it was a "great honor" to lead the SEC. Despite the attention he has received on legal action in the cryptocurrency space, Gensler emphasized that these efforts represent only about 5% of the SEC's overall enforcement activities.
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