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Wizardia Weekly Crypto News - Borat Edition

<p><span style="font-weight: 400;"><strong>Wa Wa Wee Wah</strong> what a week it's been in crypto! We've had some steady <strong>green days</strong> over the past week bringing extra attention to our marvelous cryptic world. </span></p> <p> </p> <p><picture><source srcset="https://wizardia.io/images/blog/thumb/untitled-design-22-8099.webp 576w, https://wizardia.io/images/blog/inner/untitled-design-22-8099.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/untitled-design-22-8099.jpg 576w, https://wizardia.io/images/blog/inner/untitled-design-22-8099.jpg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/untitled-design-22-8099.jpg 576w, https://wizardia.io/images/blog/inner/untitled-design-22-8099.jpg " alt="" loading="lazy" width="900" height="900"></picture></p> <p> </p> <p><span style="font-weight: 400;">So let's take a look at what's in store for this edition of Wizardia Weekly news!</span></p> <p> </p> <ul> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Sam Bankman-Fried update </span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">PayPal Faces SEC Action Related to PYUSD Stablecoin</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Binance and Visa Cancel Partnership in Europe</span></li> <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Price Action Report and Technical Analysis</span></li> </ul> <p> </p> <p><span style="font-weight: 400;">Check out the Wizardias </span><a href="https://wizardia.io/blog/secret_news"><span style="font-weight: 400;">Secret News</span></a><span style="font-weight: 400;">.</span></p> <p> </p> <p><span style="font-size: 36pt;"><strong>Sam Bankman-Fried Update: </strong></span></p> <p> </p> <p><strong><em>October 26th, 2023</em></strong><span style="font-weight: 400;">: The prosecution calls former FTX employee John Ray III to the stand. </span></p> <p> </p> <p><span style="font-weight: 400;">Ray testifies that he was hired to clean up FTX after Bankman-Fried resigned in November 2022. He says that when he took over, FTX had a "massive hole" in its balance sheet.</span></p> <p> </p> <p><span style="font-weight: 400;">Ray states that Bankman-Fried had been using FTX customer funds to fund his own personal expenses and to invest in other companies.</span></p> <p> </p> <p><strong><em>October 27th, 2023: </em></strong><span style="font-weight: 400;">The prosecution calls former FTX investor Nishad Singh to the stand.</span></p> <p> </p> <p><span style="font-weight: 400;">Singh testifies that Bankman-Fried misled him about the financial health of FTX. He says that Bankman-Fried told him that FTX had a "secret sauce" that allowed it to make huge profits without taking on much risk. </span></p> <p> </p> <p><strong><em>October 28th, 2023:</em></strong><span style="font-weight: 400;"> The defense begins its cross-examination of John Ray III. </span></p> <p> </p> <p><span style="font-weight: 400;">The defense tries to cast doubt on Ray's credibility and to suggest that he is biased against Bankman-Fried. </span></p> <p> </p> <p><span style="font-weight: 400;">Ray stands by his testimony, saying that he has no personal vendetta against Bankman-Fried and that he is simply telling the truth about what he found when he took over FTX.</span></p> <p> </p> <p><strong><em>October 31st, 2023:</em></strong><span style="font-weight: 400;"> The prosecution calls a former FTX employee who worked on the company's trading desk to the stand. </span></p> <p> </p> <p><span style="font-weight: 400;">The employee testifies that Bankman-Fried and other executives would often place trades that were not in the best interests of FTX customers, wregularly trade against FTX customers, and also use customer funds to prop up the price of FTX's own token.</span></p> <p> </p> <p><strong><em>November 1st, 2023: </em></strong><em><span style="font-weight: 400;">T</span></em><span style="font-weight: 400;">he defense begins its cross-examination of the former FTX employee who worked on the trading desk. </span></p> <p> </p> <p><span style="font-weight: 400;">The defense tries to suggest that the employee is lying and that Bankman-Fried never engaged in any wrongdoing. </span></p> <p> </p> <p><span style="font-weight: 400;">The employee stands by her testimony, saying that she is telling the truth about what she saw and heard while working at FTX.</span></p> <p> </p> <p><strong><em>November 2nd, 2023:</em></strong><span style="font-weight: 400;"> The prosecution rests its case. The defense has not yet begun its case.</span></p> <p> </p> <p><span style="font-weight: 400;">The trial is expected to resume on November 7th, 2023.</span></p> <p> </p> <p><iframe src="https://www.youtube.com/embed/5oygzAtX9Jg?t=57s" width="560" height="314" allowfullscreen="allowfullscreen"></iframe></p> <p>Wizardia. Android. Available NOW. <br><br><br></p> <p><span style="font-size: 36pt;"><strong>PayPal Faces SEC Action Related to PYUSD Stablecoin</strong></span></p> <p> </p> <p><span style="font-weight: 400;">The SEC has issued a subpoena to PayPal in connection with its investigation into the PYUSD stablecoin. PYUSD is a stablecoin that is pegged to the US dollar. </span></p> <p> </p> <p><span style="font-weight: 400;">The SEC is investigating whether PayPal is properly backing PYUSD with US dollars.PayPal has not yet commented on the SEC's investigation.</span></p> <p> </p> <p><span style="font-weight: 400;">The SEC's investigation into PYUSD is part of a broader crackdown on stablecoins. The SEC is concerned that stablecoins are not properly regulated and that they could be used to facilitate fraud and other illegal activities.</span></p> <p> </p> <p><span style="font-weight: 400;">The SEC's action against PayPal is a significant development in the cryptocurrency industry, and it is one that companies operating in this industry should pay close attention to.</span></p> <p> </p> <p><span style="font-weight: 400;">Check out our new Wizardia </span><a href="https://wizardia.io/blog/weekend-bash"><span style="font-weight: 400;">Halloween Big Bash Special!</span></a><span style="font-weight: 400;"> </span></p> <p> </p> <p><span style="font-weight: 400;"><picture><source srcset="https://wizardia.io/images/blog/thumb/haloween-special-6358.webp 576w, https://wizardia.io/images/blog/inner/haloween-special-6358.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/haloween-special-6358.jpg 576w, https://wizardia.io/images/blog/inner/haloween-special-6358.jpg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/haloween-special-6358.jpg 576w, https://wizardia.io/images/blog/inner/haloween-special-6358.jpg " alt="" loading="lazy" width="1600" height="900"></picture></span></p> <p><br><br></p> <p><span style="font-size: 36pt;"><strong>Binance and Visa Cancel Partnership in Europe</strong></span></p> <p> </p> <p><span style="font-weight: 400;">Binance has announced that it will be canceling its partnership with Visa in Europe. This means that Binance Visa cards will no longer be available to users in the European Economic Area (EEA) by December 20, 2023.</span></p> <p> </p> <p><span style="font-weight: 400;">The decision to cancel the partnership is reportedly due to regulatory pressure. Binance has been facing increased scrutiny from regulators around the world in recent times.</span></p> <p> </p> <p><span style="font-weight: 400;">The cancellation of the Binance Visa partnership is a significant blow to the cryptocurrency industry in Europe. Binance is one of the most popular cryptocurrency exchanges in the world, and its Visa card was a popular way for users to spend their cryptocurrency in the real world.</span></p> <p> </p> <p><span style="font-weight: 400;">However, there are still a number of other ways for cryptocurrency users in Europe to spend their cryptocurrency. Cryptocurrency users in Europe can use a cryptocurrency debit card from another exchange such as crypto.com, use a cryptocurrency payment processor, or use their cryptocurrency to purchase gift cards.</span></p> <p><br><picture><source srcset="https://wizardia.io/images/blog/thumb/europe-6770.webp 576w, https://wizardia.io/images/blog/inner/europe-6770.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/europe-6770.jpg 576w, https://wizardia.io/images/blog/inner/europe-6770.jpg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/europe-6770.jpg 576w, https://wizardia.io/images/blog/inner/europe-6770.jpg " alt="" loading="lazy" width="900" height="900"></picture><br><br></p> <p> </p> <p><span style="font-size: 36pt;"><strong>Price Action & Technical Analysis Report</strong></span></p> <p> </p> <p><span style="font-weight: 400;">“Very Nice, I like”. </span><span style="font-weight: 400;"><br></span><span style="font-weight: 400;"><br></span><span style="font-weight: 400;">Precisely what you would expect to hear from Borat this week regarding the bullish vibe penetrating the cryptosphere. Let's take a look into the price action and brief technical analysis of both BTC and ETH. </span></p> <p> </p> <h1><span style="font-weight: 400; font-size: 24pt;">Bitcoin</span></h1> <p> </p> <p><span style="text-decoration: underline;"><span style="font-weight: 400;">Price Action</span></span></p> <p><span style="font-weight: 400;">Bitcoin (BTC) has traded in a relatively narrow range since October 26, 2023, consolidating between the $33,000 and $35,000 levels. The price has made several attempts to break above $35,000, but has been met with resistance each time.</span></p> <p> </p> <p><span style="font-weight: 400;">On November 2, BTC is currently trading at $36,798.63, which is above all of the major moving averages.</span></p> <p> </p> <p><span style="text-decoration: underline;"><span style="font-weight: 400;">Technical Analysis</span></span></p> <p> </p> <p><span style="font-weight: 400;">The technical analysis for BTC is bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards.</span></p> <p> </p> <p><span style="font-weight: 400;">The next major resistance level for BTC is at $38,000. If the price can break above this level, it could reach the $40,000 level.</span></p> <p> </p> <p><span style="font-weight: 400;">The next major support level for BTC is at $35,000. If the price falls below this level, it could reach the $33,000 level.</span></p> <p> </p> <p><span style="font-weight: 400;">Overall, the price action and technical analysis for BTC are bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards. The next major resistance level for BTC is at $38,000, and the next major support level is at $35,000.</span></p> <p> </p> <h1><span style="font-weight: 400; font-size: 24pt;">Ethereum</span></h1> <p> </p> <p><span style="text-decoration: underline;"><span style="font-weight: 400;">Price Action</span></span></p> <p> </p> <p><span style="font-weight: 400;">ETH has traded in a relatively narrow range since October 26, 2023, consolidating between the $1,500 and $1,700 levels. The price made several attempts to break above $1,700, but was met with resistance each time.</span></p> <p> </p> <p><span style="font-weight: 400;">On November 2, ETH is currently trading at $1,847.63, which is above all of the major moving averages.</span></p> <p> </p> <p><span style="text-decoration: underline;"><span style="font-weight: 400;">Technical Analysis</span></span></p> <p> </p> <p><span style="font-weight: 400;">The technical analysis for ETH is bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards.</span></p> <p> </p> <p><span style="font-weight: 400;">The next major resistance level for ETH is at $1,900. If the price can break above this level, it could reach the $2,000 level.</span></p> <p> </p> <p><span style="font-weight: 400;">The next major support level for ETH is at $1,700. If the price falls below this level, it could reach the $1,500 level.</span></p> <p> </p> <p><span style="font-weight: 400;">Overall, the price action and technical analysis for ETH are bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards. The next major resistance level for ETH is at $1,900, and the next major support level is at $1,700.</span></p> <p><br><picture><source srcset="https://wizardia.io/images/blog/thumb/1-6951.webp 576w, https://wizardia.io/images/blog/inner/1-6951.webp " type="image/webp"></source><source srcset="https://wizardia.io/images/blog/thumb/1-6951.jpg 576w, https://wizardia.io/images/blog/inner/1-6951.jpg " type="image/jpg"></source><img srcset="https://wizardia.io/images/blog/thumb/1-6951.jpg 576w, https://wizardia.io/images/blog/inner/1-6951.jpg " alt="" loading="lazy" width="900" height="900"></picture></p> <p> </p> <p> </p> <p><span style="font-weight: 400;">NFTs... Are they dead or are they resting? Click </span><a href="https://wizardia.io/blog/the_sleeping_giant"><span style="font-weight: 400;">here</span></a><span style="font-weight: 400;"> to find out!</span></p> <p> </p> <p><span style="font-size: 36pt;"><strong>The Magic Crypto Ball &#128302;</strong></span></p> <p> </p> <p><span style="font-weight: 400;">&#127968; Roofstock onChain VP explains how blockchain technology will </span><a href="https://cointelegraph.com/news/web3-solutions-aim-to-make-america-s-real-estate-market-more-accessible"><span style="font-weight: 400;">revolutionize the real estate </span></a><span style="font-weight: 400;">industry.</span></p> <p> </p> <p><span style="font-weight: 400;">&#127464;&#127469;Switzerland launches pilot program for </span><a href="https://www.reuters.com/markets/currencies/snb-launch-digital-currency-pilot-chairman-2023-06-26"><span style="font-weight: 400;">wholesale CBDC</span></a><span style="font-weight: 400;"> with banks.</span></p> <p> </p> <p><span style="font-weight: 400;">&#128270;</span><a href="https://news.bitcoin.com/petition-sec-chairman-drop-ripple-lawsuit-end-war-on-xrp"><span style="font-weight: 400;">SEC's winning streak</span></a><span style="font-weight: 400;"> under Gensler faces scrutiny from Ripple's legal chief</span></p> <p> </p> <p><span style="font-weight: 400;">&#127469;&#127472; </span><a href="https://www.theblock.co/post/253169/hong-kong-to-issue-guidance-on-tokenizing-stocks-in-near-term"><span style="font-weight: 400;">Hong Kong's new rules</span></a><span style="font-weight: 400;"> for asset tokenization could have a major impact on the industry.</span></p> <p> </p>

6 min read
Nov 2, 2023
Ryan Turnbull
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Wa Wa Wee Wah what a week it’s been in crypto! We've had some steady green days over the past week bringing extra attention to our marvelous cryptic world. 

 

 

So let's take a look at what's in store for this edition of Wizardia Weekly news!

 

  • Sam Bankman-Fried update 
  • PayPal Faces SEC Action Related to PYUSD Stablecoin
  • Binance and Visa Cancel Partnership in Europe
  • Price Action Report and Technical Analysis

 

Check out the Wizardias Secret News.

 

Sam Bankman-Fried Update: 

 

October 26th, 2023: The prosecution calls former FTX employee John Ray III to the stand. 

 

Ray testifies that he was hired to clean up FTX after Bankman-Fried resigned in November 2022. He says that when he took over, FTX had a "massive hole" in its balance sheet.

 

Ray states that Bankman-Fried had been using FTX customer funds to fund his own personal expenses and to invest in other companies.

 

October 27th, 2023: The prosecution calls former FTX investor Nishad Singh to the stand.

 

Singh testifies that Bankman-Fried misled him about the financial health of FTX. He says that Bankman-Fried told him that FTX had a "secret sauce" that allowed it to make huge profits without taking on much risk. 

 

October 28th, 2023: The defense begins its cross-examination of John Ray III. 

 

The defense tries to cast doubt on Ray's credibility and to suggest that he is biased against Bankman-Fried. 

 

Ray stands by his testimony, saying that he has no personal vendetta against Bankman-Fried and that he is simply telling the truth about what he found when he took over FTX.

 

October 31st, 2023: The prosecution calls a former FTX employee who worked on the company's trading desk to the stand. 

 

The employee testifies that Bankman-Fried and other executives would often place trades that were not in the best interests of FTX customers, wregularly trade against FTX customers, and also use customer funds to prop up the price of FTX's own token.

 

November 1st, 2023: The defense begins its cross-examination of the former FTX employee who worked on the trading desk. 

 

The defense tries to suggest that the employee is lying and that Bankman-Fried never engaged in any wrongdoing. 

 

The employee stands by her testimony, saying that she is telling the truth about what she saw and heard while working at FTX.

 

November 2nd, 2023: The prosecution rests its case. The defense has not yet begun its case.

 

The trial is expected to resume on November 7th, 2023.

 

Wizardia. Android. Available NOW. 


PayPal Faces SEC Action Related to PYUSD Stablecoin

 

The SEC has issued a subpoena to PayPal in connection with its investigation into the PYUSD stablecoin. PYUSD is a stablecoin that is pegged to the US dollar. 

 

The SEC is investigating whether PayPal is properly backing PYUSD with US dollars.PayPal has not yet commented on the SEC's investigation.

 

The SEC's investigation into PYUSD is part of a broader crackdown on stablecoins. The SEC is concerned that stablecoins are not properly regulated and that they could be used to facilitate fraud and other illegal activities.

 

The SEC's action against PayPal is a significant development in the cryptocurrency industry, and it is one that companies operating in this industry should pay close attention to.

 

Check out our new Wizardia Halloween Big Bash Special! 

 



Binance and Visa Cancel Partnership in Europe

 

Binance has announced that it will be canceling its partnership with Visa in Europe. This means that Binance Visa cards will no longer be available to users in the European Economic Area (EEA) by December 20, 2023.

 

The decision to cancel the partnership is reportedly due to regulatory pressure. Binance has been facing increased scrutiny from regulators around the world in recent times.

 

The cancellation of the Binance Visa partnership is a significant blow to the cryptocurrency industry in Europe. Binance is one of the most popular cryptocurrency exchanges in the world, and its Visa card was a popular way for users to spend their cryptocurrency in the real world.

 

However, there are still a number of other ways for cryptocurrency users in Europe to spend their cryptocurrency. Cryptocurrency users in Europe can use a cryptocurrency debit card from another exchange such as crypto.com, use a cryptocurrency payment processor, or use their cryptocurrency to purchase gift cards.




 

Price Action & Technical Analysis Report

 

“Very Nice, I like”.

Precisely what you would expect to hear from Borat this week regarding the bullish vibe penetrating the cryptosphere. Let’s take a look into the price action and brief technical analysis of both BTC and ETH. 

 

Bitcoin

 

Price Action

Bitcoin (BTC) has traded in a relatively narrow range since October 26, 2023, consolidating between the $33,000 and $35,000 levels. The price has made several attempts to break above $35,000, but has been met with resistance each time.

 

On November 2, BTC is currently trading at $36,798.63, which is above all of the major moving averages.

 

Technical Analysis

 

The technical analysis for BTC is bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards.

 

The next major resistance level for BTC is at $38,000. If the price can break above this level, it could reach the $40,000 level.

 

The next major support level for BTC is at $35,000. If the price falls below this level, it could reach the $33,000 level.

 

Overall, the price action and technical analysis for BTC are bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards. The next major resistance level for BTC is at $38,000, and the next major support level is at $35,000.

 

Ethereum

 

Price Action

 

ETH has traded in a relatively narrow range since October 26, 2023, consolidating between the $1,500 and $1,700 levels. The price made several attempts to break above $1,700, but was met with resistance each time.

 

On November 2, ETH is currently trading at $1,847.63, which is above all of the major moving averages.

 

Technical Analysis

 

The technical analysis for ETH is bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards.

 

The next major resistance level for ETH is at $1,900. If the price can break above this level, it could reach the $2,000 level.

 

The next major support level for ETH is at $1,700. If the price falls below this level, it could reach the $1,500 level.

 

Overall, the price action and technical analysis for ETH are bullish. The price is above all of the major moving averages, and the MACD and RSI indicators are both trending upwards. The next major resistance level for ETH is at $1,900, and the next major support level is at $1,700.


 

 

NFTs... Are they dead or are they resting? Click here to find out!

 

The Magic Crypto Ball 🔮

 

🏠 Roofstock onChain VP explains how blockchain technology will revolutionize the real estate industry.

 

🇨🇭Switzerland launches pilot program for wholesale CBDC with banks.

 

🔎SEC's winning streak under Gensler faces scrutiny from Ripple's legal chief

 

🇭🇰 Hong Kong's new rules for asset tokenization could have a major impact on the industry.

 

Ryan Turnbull

Ryan Turnbull

Introducing Ryan Turnbull, a passionate Australian Chief Vibe Officer at Wizardia. Among many things, Ryan builds Wizardia’s community, creates captivating live streams, forms partnerships with other web3 projects, and produces engaging video and blog content. With his expertise, Ryan introduces crypto gaming to both masters and beginners, fostering a vibrant, exciting and supportive environment.

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