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Phillips 66 Closed Above its Bollinger Band, Still in Downtrend
Phillips 66 closed above its upper Bollinger band, indicating shares may be overbought. In the past 12 months, the stock has crossed above this level 10 times and fell an average of 5.6% in the next 20 days. Can it break?
Source: Bloomberg
Bankrupt Celsius Demands StakeHound Return $150M in Ethereum, Polygon and Polkadot
Bankrupt crypto lender Celsius has accused StakeHound of failing to hand back $150 million worth of various tokens which it had entrusted to the liquid staking platform. In a complaint filed as part of Celsius’s ongoing bankruptcy proceedings, lawyers also alleged that StakeHound had violated bankruptcy rules by commencing an arbitration proceeding against the business in Switzerland. At the heart of the case are $120 million worth of Ethereum (ETH), $30 million in Polygon (MATIC), and Polkadot (DOT) tokens worth $300,000, based on recent prices.
Source: Decrypt
Grayscale Cries Foul Over SEC Approval of a Different Kind of Bitcoin ETF
ETF euphoria is still wafting through both the crypto and finance space, and would-be Bitcoin investors are holding their breath ahead of what they hope will be the first approved exchange traded fund for spot markets. Their spirits were lifted after regulators gave their blessing to 2X Volatility Shares to start trading the first ETF in leveraged Bitcoin futures on June 23.
Donald Verilli, one of the lawyers representing Grayscale in its battle with the SEC, argued that approving the Volatility Shares ETF ran contrary to its own stance against any fund dealing with spot markets.
Source: Decrypt
93% of banks exploring potential CBDC: Bank of International Settlements
Central banks interested in exploring “some form” of a central bank digital currency (CBDC) rose to 93%, according to a 2022 Bank of International Settlements survey. Eighty-six banks responded to the BIS survey. However, a June survey from the Atlantic Council found that around 130 countries are exploring CBDCs. “Work on retail CBDC is more advanced than on wholesale CBDC: almost a quarter of central banks are piloting a retail CBDC. More than 80% of central banks see potential value in having both a retail CBDC and a fast payment system, mostly because a retail CBDC has specific properties and may offer additional features,” the BIS wrote.
Source: Blockworks
Binance chief strategy officer says departure is ‘on good terms’
Binance chief strategy officer Patrick Hillmann has confirmed his departure from the embattled crypto exchange. Hillman’s response on social media appears to address reports which said he, along with two other Binance executives, were leaving due to CEO Changpeng Zhao’s response to ongoing investigations by the US Department of Justice (DOJ).“I continue to respect and support [Binance CEO Changpeng Zhao] and am grateful for having had the incredible opportunity to work under his leadership,” Hillmann tweeted.
Source: Blockworks
UAE emerges as a pro-Bitcoin mining destination in the Middle East
he United Arab Emirates (UAE) is gradually solidifying its status as a go-to Bitcoin
BTC mining destination in the Middle East. The country has established itself as a pro-Web3 destination for crypto-focused companies with over 30 free trade zones and a growing contribution to the Bitcoin mining hash rate. Abu Dhabi has become a hub for all kinds of crypto mining activity in the UAE due to its energy efficiency and status as the center of trade in the country.
Source: CoinTelegraph
Belarus moves to ban peer-to-peer crypto transactions
Belarus is moving to ban peer-to-peer crypto transactions in an effort to reduce alleged fraud. The government is working on the legislation needed to formally make the transactions illegal. Citizens will instead have to turn to crypto exchanges registered with Hi-Tech Park (HTP) to make transactions “for transparency and control,” according to a social media post from Alexander Ringevish of the Ministry of Internal Affairs.
Source: Blockworks
Hut8 relocates 6,400 rigs, sees growth in AI & high performance computing
North American mining firm Hut8 is seeing new demand for AI and high performance computing as it looks to re-energize some 6,400 rigs being moved from its inoperative North Bay site in Ontario. As previously reported, Hut8 is in an ongoing legal battle with its third party energy supplier Validus Power over alleged failure to meet contractual obligations. Operations at the facility have been suspended since Nov. 2022. Source: Cointelegrah
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