Signature Bank Moving Away From Crypto? Crypto Daily TV 8/12/2022

In Todays Headline TV CryptoDaily News:

https://www.youtube.com/watch?v=__WDREeYOJ8

Signature Bank to reduce crypto-tied deposits by as much as $10 billion.

Signature Bank will shrink its deposits tied to cryptocurrencies by $8 billion to $10 billion, signaling a move away from the digital asset industry for the bank that until recently had been one of the most crypto-friendly companies on Wall Street.

Early bitcoin pioneer Ian Freeman goes to trial in New Hampshire.

Federal prosecutors say early bitcoin pioneer and Libertarian activist Ian Freeman and a group of his associates helped scammers and other criminals launder more than $10 million using bitcoin through a network of bitcoin vending machines and in-person and virtual cash-for-bitcoin trades from 2016 until their arrests in 2021.

Marathon to recover less than half of the deposit from Compute North.

Marathon Digital, one of the largest publicly traded bitcoin miners, expects to recover only $22 million of the $50 million it deposited with bankrupt bitcoin miner and data center provider Compute North.

BTC/USD dove 1.4% in the last session.

The Bitcoin-Dollar pair plummeted 1.4% in the last session. The Stochastic indicator gives a negative signal, which matches our overall technical analysis. Support is at 16848.6667, and resistance is at 17232.6667.

The Stochastic indicator is giving a negative signal.

ETH/USD plummeted 3.3% in the last session.

The Ethereum-Dollar pair dove 3.3% in the last session. The RSI is giving a negative signal. Support is at 1232.7567, and resistance is at 1293.2367.

The RSI is currently in the negative zone.

XRP/USD plummeted 2.2% in the last session.

The Ripple-Dollar pair plummeted 2.2% in the last session. The Stochastic indicator is giving a negative signal. Support is at 0.3766, and resistance is at 0.3997.

The Stochastic indicator is giving a negative signal.

LTC/USD plummeted 3.9% in the last session.

The Litecoin-Dollar pair dove 3.9% in the last session. The ROC gives a negative signal. Support is at 75.9133, and resistance is at 83.6733.

The ROC gives a negative signal.

Daily Economic Calendar:

US Continuing Jobless Claims

The Counting Jobless Claims measures the number of individuals who are unemployed and are currently receiving unemployment benefits. The US Continuing Jobless Claims will be released at 13:30 GMT, Japan’s Eco Watchers Survey: Outlook at 05:00 GMT, and the UK’s RICS Housing Price Balance at 00:01 GMT.

JP Eco Watchers Survey: Outlook

The Eco Watchers Survey closely monitors regional economic trends. The survey is considered basic material for assessing short-term economic trends.

UK RICS Housing Price Balance

The RICS Housing Price Balance survey presents housing costs. It shows the strength of the housing market.

NL Consumer Price Index

The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services.  The Dutch Consumer Price Index will be released at 05:30 GMT, Australia’s Exports at 00:30 GMT, and Australia’s Trade Balance at 00:30 GMT.

AU Exports

The Exports measure the local economy’s total exports of goods and services. Steady demand for exports helps to support growth in the trade surplus.

AU Trade Balance

The Trade Balance is the total difference between exports and imports of goods and services. A positive value shows a trade surplus, while a negative value represents a trade deficit.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.