Paxos Holding Talks With SEC, Crypto Daily TV 22/2/2023

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Paxos is holding ‘constructive discussions’ with SEC.

Stablecoin issuer Paxos is having a “constructive discussion” with the U.S. Securities and Exchange Commission, Chief Executive Officer Charles Cascarilla said. News of the talks comes a week after Paxos said it received a Wells Notice from the regulator.

Stablecoins are critical for mainstream crypto adoption.

Even with the recent Securities and Exchange Commission crackdown on crypto assets – including stablecoins – the most logical and sensible path for mass crypto adoption remains via stablecoins, according to experts.

BNB-Bitcoin ratio falls.

BNB, the native token of the Binance-initiated blockchain network BNB Chain, is losing ground against bitcoin in the wake of regulatory action against Binance-branded dollar-pegged stablecoin BUSD.

BTC/USD plummeted 2.2% in the last session.

The Bitcoin-Dollar pair plummeted 2.2% in the last session. The Williams indicator is giving a negative signal, going against our overall technical analysis. Support is at 233571 and resistance at 258511.

The Williams indicator is currently in negative territory.

ETH/USD plummeted 3.3% in the last session.

The Ethereum-Dollar pair dove 3.3% in the last session. The ROC is giving a negative signal. Support is at 1623.7067 and resistance at 1758.8867.

The ROC is currently in negative territory. 

XRP/USD plummeted 1.9% in the last session.

The Ripple-Dollar pair plummeted 1.9% in the last session. The RSI is giving a negative signal. Support is at 0.3635 and resistance at 0.4262.

The RSI is giving a negative signal.

LTC/USD plummeted 3.1% in the last session.

The Litecoin-Dollar pair plummeted 3.1% in the last session. The Stochastic indicator is giving a positive signal. Support is at 92.2733 and resistance at 100.3733.

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The Stochastic indicator is currently in the positive zone.

Daily Economic Calendar:

US 5-Year Note Auction

The note auction sets the yield on the notes auctioned off by US Department of Treasury. The yield on the notes represents the return an investor will receive by holding the bond until maturity. The US 5-Year Note Auction will be released at 18:00 GMT, the US Redbook Index at 13:55 GMT, Australia’s Construction Work Done at 00:30 GMT.

US Redbook Index

The Johnson Redbook Index measures the year-over-year same-store sales growth from a sample of large general merchandise retailers.

AU Construction Work Done

The Construction Work Done measures the amount of construction work done in the last month. It is a key indicator of the Australian construction sector.

US MBA Mortgage Applications

The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. The US MBA Mortgage Applications will be released at 12:00 GMT, Germany’s IFO – Expectations at 09:00 GMT, Germany’s IFO – Business Climate at 09:00 GMT.

DE IFO – Expectations

The IFO Expectations is regarded as an indicator of business expectations for the next six months. It is based on a survey in which firms rate the future outlook as better, same, or worse. 

DE IFO – Business Climate

The IFO Business Climate index is regarded as an early indicator of current conditions and business expectations. The Institute surveys enterprises on their assessment of the economic situation.

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.

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