Ethereum News: Price Recovery and Regulatory Concerns

Ethereum Price Recovery Above $2,000 - Breakout or Temporary Bounce?

Ethereum price has started a recovery wave above the $2,000 level and is now consolidating NEAR the $2,100 resistance. The price is trading above $2,020 and the 100-hourly Simple Moving Average. A connecting bullish trend line is forming with support at $2,000 on the hourly chart. To start a decent increase, the pair must clear the $2,080 and $2,100 resistance levels.

Coinbase CLO Warns of Potential Re-Sanctions on Tornado Cash

While the reversal of Tornado Cash’s sanctions marked a significant development, Coinbase’s Chief Legal Officer Paul Grewal warns that the move does not guarantee long-term freedom for Tornado Cash. Based on his opinion, the US Treasury has left the door open for imposing similar restrictions in the future. The decision to delist Tornado Cash follows months of legal battles and criticism from the crypto community. The Treasury’s original sanctions accused the mixing service of enabling illicit transactions, particularly those tied to North Korea’s hacking groups. However, legal challenges led to increased scrutiny of the Treasury’s actions, ultimately prompting it to remove the restrictions.

World Liberty Financial Unveils USD1 Stablecoin

World Liberty Financial (WLFI), President Donald Trump’s decentralized finance (DeFi) platform, has launched a new stablecoin called USD1. Pegged to the US dollar, the token is now live on the Ethereum (ETH) and Binance blockchains. The news was reported by Fortune and shared by Changpeng Zhao, the former CEO of Binance, on social media, prompting WLFI to implicitly confirm its legitimacy.

ADGM Partners with Chainlink to Expand Blockchain Integration

Abu Dhabi Global Market (ADGM) has partnered with Chainlink to enhance blockchain integration and bridge traditional finance with decentralized technology. As part of the agreement, ADGM will gain access to Chainlink’s data feeds and interoperability solutions, enhancing its ability to integrate blockchain-based innovations. The partnership also aims to foster discussions on emerging technologies, including blockchain and artificial intelligence, positioning ADGM as a hub for financial innovation in the region.