WEEK 2: Binance CEO one among the wealthiest 🤑 GAO wants a tighter grip on crypto 👮

January 10, 2022

Bitcoin is currently trading at $42,213 after it dipped massively on the 10th of Jan 2022 from $42,796 to $39,558. This was caused due to what is called "death cross", when the 50 day moving average dips below the 200 day moving average. It has since made a 6.3% recovery.

Top 5 cryptos of the day:

  • BTC $42,294 0.83%
  • ETH #3,139 -0.605
  • SOL $137 -0.33%
  • XRP $0.7789 -0.46%
  • LUNA $72.67 0.37%

Biggest gainers:

  • ATOM $38.96 7.43%
  • KAVA $4.69 5.73%
  • REP $17.14 3.95%
  • IOTA $1.12 3.8%
  • MATIC $2.17 10.74%

Biggest losers:

  • NU $0.5907 -7.02%
  • CELO $4.42 -6.09%
  • LRC $1.49 -6.04%
  • SKL $0.1605 -5.88%
  • GRT $0.5549 -5.67%

GAO pushes towards stricter crypto regulations

The Government Accountability Office has recently released a study which stated that crypto kiosks are being used to facilitate human trafficking. GAO suggests that IRS and Financial Crimes Enforcement Network work together to tighten crypto regulations.

Crypto market seed $343 million in liquidation

As Bitcoin hit its newest low since September 2021, the crypto market saw over $340 million in liquidation as the market showed its volatile side. The single largest liquidation was on Bitmex for $5.95 million.

Bill Miller has half his wealth in Bitcoin

Billionaire investor Bill Miller recently revealed that he possesses half his wealth in Bitcoin. Miller started Bitcoin in 2014 while it was trading at around $200 and recently started buying in dips.

Binance founder now rivaling tech giants

Changpeng Zhao, the founder and CEO is worth about $96 billion according to a report by Bloomberg. This puts his close behind industry Goliaths such as Warren Buffet and Mark Zuckerberg who are worth $116 billion and $124 billion respectively.

 

Interesting financial reads:

Rice University accused of conspiring to limit financial aid

Reddit 'antiwork' forum booms as millions of Americans quit jobs

China's Shimao shares seesaw after developer disputes asset sale report

Pfizer and Moderna step up efforts on Omicron-targeting vaccine

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