{"id":2306,"date":"2023-04-30T08:46:38","date_gmt":"2023-04-30T12:46:38","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/bitcoin-consolidates-gains-eyes-are-on-bank-stress-coinbase\/"},"modified":"2023-04-30T08:46:39","modified_gmt":"2023-04-30T12:46:39","slug":"bitcoin-consolidates-gains-eyes-are-on-bank-stress-coinbase","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=2306","title":{"rendered":"Bitcoin Consolidates Gains. Eyes Are on Bank Stress, Coinbase."},"content":{"rendered":"
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Bitcoin and other cryptocurrencies were rising on Friday, shaking off heightened tension between crypto exchanges and U.S. regulators, with eyes still on strains in the banking system.\u00a0<\/p>\n

\n Bitcoin
\n was up 1.0% over the past 24 hours to $29,277 early on Friday. The largest cryptocurrency was solidifying gains made during the week that have brought it up from below $28,000, although it remains short of the important psychological level of $30,000.<\/p>\n

\n

Bitcoin\u2019s rally has been helped by the focus on stress in the U.S. banking system, which appears set to remain in the spotlight with reports officials are working on a new assistance plan for
\n First Republic Bank
\n (ticker: FRC).\u00a0<\/p>\n

That could offset concerns about the conflict between
\n Coinbase
\n Global (COIN) and U.S. regulators.
\n Coinbase
\n \u2014the largest U.S. crypto exchange\u2014on Thursday laid out details of its response to a possible lawsuit from the Securities and Exchange Commission. The outcome of the potential legal battle could determine the future of the crypto markets in the U.S.<\/p>\n

\u201cWe do not relish litigation against the SEC, but we will vigorously defend ourselves\u2014and stand up for the rule of law for everyone.,\u201d Coinbase said in a blog post late on Thursday. <\/p>\n

Coinbase stock was down 0.8% in premarket trading on Friday. <\/p>\n

Beyond Bitcoin, Ether\u2014the second-largest crypto\u2014rose 1.4% to around $1,910. Smaller cryptos, or altcoins, were mixed, with Cardano flat and Polygon up 1.6%.
\n Dogecoin
\n was up 0.5%.<\/p>\n

Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and other cryptocurrencies were rising on Friday, shaking off heightened tension between crypto exchanges and U.S. regulators, with eyes still on strains in the banking system.\u00a0 Bitcoin was up 1.0% over the past 24 hours to $29,277 early on Friday. The largest cryptocurrency was solidifying gains made during the week that have brought it […]<\/p>\n","protected":false},"author":1,"featured_media":2307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-2306","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nBitcoin Consolidates Gains. 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