Latest news with #Bullish
Yahoo
12 hours ago
- Business
- Yahoo
Pi coin breaks out of the range but faces resistance
Pi coin breaks out of the range but faces resistance originally appeared on TheStreet. Pi (PI) is a native token of Pi Network, a cryptocurrency project that aims to make crypto and blockchain technology more accessible to the masses. Pi/USDT reached resistance at the upper trading range of $0.648 to $0.656 between June 2 and June 4 and continued above on increased volume to test a down Bullish cross over in the Ichimoku cloud, also supporting momentum, while Stochastic RSI above 80 indicated overbought territory. MACD signals are mixed, trading around the zero level with a slightly negative histogram, suggesting that bulls are hesitant. The current value of Pi is $0.6553 , and it has found support at $0.6494. It is on the 4-hour chart and stands above the 20-EMA, which implies a bullish near-term structure, but it is capped by the resistance of the 50-day SMA ($0.714) and the 100-EMA ($0.6774). On the daily timeframe, Pi remains confined within a descending triangle, and its bearish setup will only be invalidated if it closes convincingly above $0.675. Zypto App's adoption of Pi - The XRP and DASH topping VISA card — has multiplied its practical use across payments. Furthermore, a new blockchain-integrated game called "FruityPi" is set to go live as well, increasing the gaming use case of the token. At a neutral Fear & Greed Index reading of 57 and decreasing 24h volume (-32%), traders are cautiously optimistic. A clear move above $0.675 might call for a test of $0.72, but a break below $0.649 could spark a fresh decline. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Please do your own research and consult with a licensed financial advisor before making any investment decisions. Pi coin breaks out of the range but faces resistance first appeared on TheStreet on Jun 4, 2025 This story was originally reported by TheStreet on Jun 4, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Crypto Innovation in Canada Stifled by the 'Idiot King' Trudeau: Kevin O'Leary
Mr. Wonderful Kevin O'Leary joins WonderFi President and CEO Dean Skurka with Bullish CEO Tom Farley on stage at Consensus 2025 in Toronto to discuss WonderFi's landmark acquisition by Robinhood, bringing major American crypto presence to Canada. Plus, the panel delves into Canada's crypto landscape as the country seeks to wake up from an "economic coma." This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.
Yahoo
16-05-2025
- Business
- Yahoo
Dave Portnoy Says Meme Coins Are 'Gambling' and Not Built to Last
'I don't think it's here to stay,' Dave Portnoy said, referring to meme coins—the same corner of crypto he's often poured fuel on through his social media antics. Speaking on stage at Consensus 2025 with Tom Farley, CEO of crypto exchange Bullish, the Barstool Sports founder peeled back the layers of his short, chaotic stint in the meme coin world. With his usual brash candor, Portnoy described a journey of sudden windfalls, legal landmines, and the kind of public backlash that might make even the most hardened internet provocateur think twice. 'I love the rush, I'm a gambler at heart,' he admitted. 'But then the smart part of me is like, is it worth the hate?' The conversation was part of a broader discussion about crypto's culture of speculation and hype, where meme coins — tokens created more for jokes than utility — have captured the imagination of young, risk-hungry traders. Portnoy, who built Barstool into a media empire on viral content and sports gambling, found himself swept into the same digital fever. It started with SafeMoon, one of the earliest viral tokens of the COVID-era crypto boom. Portnoy saw social media posts about traders making '9,000,000,000%' gains, bought in, made a video mocking its lack of real value — and got sued anyway. 'They basically said SafeMoon paid me to promote them. Total lie. Cost me $20k to get out of the lawsuit.' he said. Undeterred, he pushed further. Inspired by the idea of launching a Barstool coin and skipping the hassle of going public, Portnoy began researching how meme coins are made. That led him to a developer who pitched a token called Libra, allegedly backed by the president of Argentina. Portnoy bought $4.5 million worth. 'I was at SNL with Lady Gaga. I was just typing. I'm like, what the hell is going on here?' he said. The developer had told him Elon Musk would tweet about it. Instead, the president disavowed any involvement. 'I lost all my money.' Portnoy says he got lucky — the developer later reimbursed him in full, though he isn't sure why. 'I'm one of the lucky ones, but you know, I'm not going to not take that money back.' Despite the losses, Portnoy kept dabbling. He launched coins called Greed and Greed 2, leaning into the satire. Another coin, JailStool, emerged from public outrage at his meme coin experiments. Someone else created the token, but Portnoy embraced the name and posted about it. At one point, he claims, a $1,000 investment ballooned to $7 million — within an hour. 'It took me 13 years to make that kind of money at Barstool,' he said. But what goes up almost always crashes back down. Portnoy says he's lost track of how many times he's been accused of 'rug pulls,' a term for when insiders dump a coin and leave latecomers with worthless tokens. He described meme coins as a rigged game, dominated by a core group of early buyers with trading bots and algorithms who know when to exit. 'It's the same group of winners and it's the same group of losers.' That realization seems to have changed his appetite. While he teased the possible launch of Greed 3, he admitted the backlash is harder to stomach in real life. One man confronted him in a Las Vegas casino, claiming he lost $200,000. 'It's all fun and games behind the computer but that reinforces people are losing and making real money, and they're not always taking responsibility for the risk, even though I think they should.' Despite the money and the memes, he says the meme coin scene is ultimately unsustainable. 'I get why people like it,' he said. 'It's a form of gambling, it's a Ponzi scheme, I don't mean that in a negative way.' Portnoy doesn't claim to have the answers. But if he's a weathervane for where meme coin mania might be heading, the forecast looks grim. 'I can't imagine it's here to stay. I think it's here to stay for the next four years. What happens after that? I don't know.'Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Gibraltar to Establish Crypto Derivatives Clearing, Settlement Rules to Enhance Market Integrity
The Gibraltar government said it plans to establish the world's first rules for the clearing and settlement of crypto derivatives, creating a regulatory framework to improve market integrity and reduce key risks. Working with the Gibraltar Financial Services Commission (GFSC) and crypto exchange Bullish (whose owner, Bullish Group, is also the parent of CoinDesk), the government has built a framework over the past six months that tailors traditional financial clearing regulations to the virtual asset market. The framework will enable virtual asset derivative contracts to be cleared and settled by a recognized clearing house, Bullish said on Tuesday. Clearing houses ensure that trades are finalized, with buyers and sellers meeting their commitments. Many virtual asset exchanges have been performing that function which, in the absence of regulatory oversight, can lead to failures in the process, Bullish said. The proposed regime will allow the establishment of separate clearing houses with "improved transparency and capitalization," it (May 13, 15:34 UTC): Corrects that CoinDesk's parent company is Bullish Group, not the crypto exchange Bullish. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
13-05-2025
- Business
- Cision Canada
Bullish partners with the Gibraltar Government and GFSC to pioneer world's first crypto clearing regulation
GIBRALTAR, May 13, 2025 /CNW/ -- Bullish, one of the fastest-growing regulated virtual asset exchanges, today announced its partnership with the Gibraltar Government and the Gibraltar Financial Services Commission (GFSC) to develop the world's first regulation for the clearing and settlement of derivative contracts settled in virtual assets. This innovation will enable virtual asset derivative contracts to be cleared and settled in virtual assets by a recognized clearing house for the first time. This groundbreaking initiative moves beyond the limitations of traditional fiat-based clearing and settlement infrastructure and marks a significant milestone in the evolution of virtual asset regulation. Over the past six months, Bullish and the GFSC have collaborated and agreed to create a regulatory framework that seamlessly adapts traditional finance clearing regulations with the unique requirements and capabilities of the virtual asset market. For example, under the proposed clearing framework, select virtual assets may be eligible as collateral and settlement currency. The selection criteria will follow the principles underpinning existing traditional clearing regulations. Additionally, the framework will expand the range of institutions authorized to hold collateral, enhancing market integrity and participation while mitigating key risks. Setting the standard for a crypto clearing solution Major virtual asset exchanges have been performing the clearing function without appropriate regulatory oversight, leading to failures impacting customers. The proposed regime introduces a regulated clearing house entity, separate and independent from the exchange and its participants, with improved transparency and capitalization to strengthen market infrastructure protection. In a separate announcement, His Majesty's Government of Gibraltar expressed its enthusiasm for the framework, which fosters trust, resilience, and integrity in virtual asset markets. Bullish warmly welcomes their announcement and is excited to work alongside the government and GFSC to bring this groundbreaking regulatory framework to fruition. "There is currently no regulation that specifically addresses the clearing needs of the crypto industry. We aim to change that by introducing a framework that manages risk for virtual asset trading and is aligned with traditional market infrastructure standards," said Tom Farley, Bullish Group CEO. "While Central Counterparties have become more robust in other asset classes, this initiative will bring that same robust risk management and regulatory oversight to the crypto clearing space that EMIR & Dodd-Frank brought to traditional derivatives markets. We welcome the announcement from the government of Gibraltar and look forward to introducing our joint proposal to the market." The Hon Nigel Feetham KC MP, Minister for Financial Services adds, "Gibraltar is renowned for pioneering clear regulation and embracing forward-looking technology, being the first jurisdiction globally to introduce legislation for firms using Distributed Ledger Technology. We are excited to deepen our relationship with Bullish and to introduce this unprecedented virtual asset clearing solution to the market." Bullish exchange poised to become first regulated virtual asset clearing house globally In anticipation of the new framework, Bullish plans to introduce its Clearing Services offering alongside Options trading later this year. This initial launch will integrate a variety of clearing benefits into the market as Bullish moves toward establishing a standalone clearing house under the new regulatory framework. With licenses from the GFSC, the German Federal Financial Supervisory Authority (BaFin), and the Hong Kong Securities and Futures Commission (SFC), Bullish is well-positioned to set the standard for virtual asset clearing solutions. "Our long-term goal is to establish a robust regulatory framework that not only meets the current needs of the virtual asset ecosystem but also anticipates future developments. This initiative underscores our commitment to operating a regulated, compliant exchange that supports institutional participation with an end-to-end clearing solution," said Randi Abernethy, Head of Clearing and Group Risk at Bullish. "Several market participants have already voiced strong support for our business model because they recognize the value of regulated central clearing. We look forward to Bullish becoming the first operational regulated digital assets clearing house in the world." In advance of this, Bullish will form a clearing member working group to bring industry leaders together to share their expertise, establish the initial clearing network, and enhance the robustness of Bullish's clearing ecosystem. Media contact Bullish [email protected] HM Government of Gibraltar [email protected] Gibraltar Financial Services Commission [email protected] About Bullish exchange With a focus on developing products and services for the institutional digital assets sector, Bullish has rewired the traditional exchange to benefit asset holders, enable traders and increase market transparency. Supported by the Group's well-capitalized treasury, Bullish's digital asset spot and derivatives trading services utilize high-performance central limit order matching and proprietary market making technology to deliver deep liquidity and tight spreads within a compliant framework. Launched in November 2021, the exchange is available in 50+ select jurisdictions in Asia Pacific, Europe, Africa, and Latin America. Bullish prioritizes compliance and safeguarding customer assets through robust security measures and regulatory oversight. The business is licensed by the Hong Kong Securities and Futures Commission, German Federal Financial Supervisory Authority, and the Gibraltar Financial Services Commission. For more information on the Bullish exchange, please visit and follow LinkedIn and X. Forward-Looking Statements This press release may include "forward-looking statements" relating to future events or the Bullish Group's future financial or operating performance, business strategy, and potential market opportunity. Such forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Bullish Group, are inherently uncertain and are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. You should not place undue reliance on any such forward-looking statements, which speak only as of the date they are made, and the Bullish Group undertakes no duty to update these forward-looking statements.
