Cryptocurrency Market Explodes, as Genesis Global Capital Plans Bankruptcy and NAB Launches Stablecoin

Genesis to file for bankruptcy, CFTC commissioner warns of risks if crypto firms self-certify, and other news – this update from Crypto Daily TV for January 20, 2023.

Cryptocurrency Market Update:

  • The Bitcoin-Dollar pair saw an explosion of 1.5% in the last session, with the Williams indicator pointing to an overbought market.
  • The Ethereum-Dollar pair also saw a significant jump of 2.6%, with the RSI indicator indicating an overbought market.
  • The Ripple-Dollar pair had a big surge of 4.0%, but the Stochastic indicator is giving a negative signal.
  • The Litecoin-Dollar pair rose 1.6% in the last session, reaching as high as 2.3% during the session, but the Ultimate Oscillator is giving a negative signal.
  • Cryptocurrency firm Genesis Global Capital is reportedly planning to file for bankruptcy as early as this week, following the fall of the FTX cryptocurrency exchange in November.
  • A top official with the U.S. Commodity Futures Trading Commission plans to warn lawmakers against allowing cryptocurrency exchanges to self-certify with the agency to list products for trading.
  • The National Australia Bank, one of Australia’s biggest four banks, is set to launch a stablecoin called AUDN in mid-2023, according to the Australian Financial Review. The stablecoin will launch on the Ethereum and Algorand blockchain, a smart contract platform similar to Ethereum.

In conclusion, the cryptocurrency market saw a mixture of positive and negative signals this week, with some pairs seeing significant growth while others faced negative indicators. The bankruptcy filing of Genesis Global Capital and the warning from the U.S. Commodity Futures Trading Commission also add some uncertainty to the market. However, the upcoming launch of the stablecoin by the National Australia Bank could bring stability and a new option for investors.

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0:00 Introduction
0:15 BTC/USD
0:23 ETH/USD
0:30 XRP/USD
0:37 LTC/USD
0:47 Genesis to file for bankruptcy
1:05 FTX Claims To Be Hacked For $415M
1:16 National Australia Bank becomes second Australian bank to build stablecoin
1:36 Thank you for watching

Disclaimer: This Video is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice. Trading cryptocurrencies poses a considerable risk of loss
#crypto #btc #bitcoin #cryptocurrency

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About the Author: Lauren Dillon

Lauren Dillon is a crypto-journalist with years of experience covering the industry. She has a deep passion for spreading awareness about the potential of blockchain technology and its potential to improve the world. She holds a degree in business information technology and decades of experience in marketing software and consulting services.

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