Home / Supply Chain News /General Services Administration Awards Multiple Award Schedule (MAS) Contract To SIMBA Chain

General Services Administration Awards Multiple Award Schedule (MAS) Contract To SIMBA Chain

14 Dec 2022

Solana surged to a three-week high ahead of this afternoon’s Federal Open Market Committee meeting (FOMC). The token rose for a second consecutive day, hitting a key price ceiling in the process. Cardano mainly consolidated on Wednesday, as prices fell from a recent high.

Solana (SOL) was a notable gainer on Wednesday, as prices surged to a three-week high.

Following a low of $13.61 on Tuesday, SOL/USD raced to an intraday high of $14.68 earlier in today’s session.

As a result, solana moved to its strongest point since November 26, which is the last time prices were trading above a key ceiling of $14.70.

Looking at the chart, this resistance point has yet to be broken following today’s gains, with SOL trading at $14.67 as of writing.

The 14-day relative strength index (RSI) also rose, and is currently tracking at 48.36, however it also failed to break out of a resistance level.

As of writing, the index remains below a ceiling of 49.00, which appears to be the main obstacle in place, preventing any further surges.

On the other hand, cardano (ADA) moved away from a recent eight-day high, as price consolidated ahead of today’s FOMC meeting.

ADA/USD fell to a low of $0.3069 earlier in the day, which comes less than a day after hitting a peak at $0.3152.

This surge in price sent cardano to its strongest point since December 5, which is the last time price was above a ceiling of $0.3270.

From the chart, it can be seen that today’s price consolidation began following a failed breakout of the 46.00 ceiling on the RSI indicator.

Currently, the index is tracking at 43.79, with momentum appearing to be heading for a floor at 37.60.

Should price strength reach this point, it is likely that ADA will be trading close to the $0.3000 support level.

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Tags in this story
ada, Analysis, Cardano, FOMC, SOL, Solana

Do you expect cardano to rally following today’s interest rate decision? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

Solana surged to a three-week high ahead of this afternoon’s Federal Open Market Committee meeting (FOMC). The token rose for a second consecutive day, hitting a key price ceiling in the process. Cardano mainly consolidated on Wednesday, as prices fell from a recent high.

Solana (SOL) was a notable gainer on Wednesday, as prices surged to a three-week high.

Following a low of $13.61 on Tuesday, SOL/USD raced to an intraday high of $14.68 earlier in today’s session.

As a result, solana moved to its strongest point since November 26, which is the last time prices were trading above a key ceiling of $14.70.

Looking at the chart, this resistance point has yet to be broken following today’s gains, with SOL trading at $14.67 as of writing.

The 14-day relative strength index (RSI) also rose, and is currently tracking at 48.36, however it also failed to break out of a resistance level.

As of writing, the index remains below a ceiling of 49.00, which appears to be the main obstacle in place, preventing any further surges.

On the other hand, cardano (ADA) moved away from a recent eight-day high, as price consolidated ahead of today’s FOMC meeting.

ADA/USD fell to a low of $0.3069 earlier in the day, which comes less than a day after hitting a peak at $0.3152.

This surge in price sent cardano to its strongest point since December 5, which is the last time price was above a ceiling of $0.3270.

From the chart, it can be seen that today’s price consolidation began following a failed breakout of the 46.00 ceiling on the RSI indicator.

Currently, the index is tracking at 43.79, with momentum appearing to be heading for a floor at 37.60.

Should price strength reach this point, it is likely that ADA will be trading close to the $0.3000 support level.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
ada, Analysis, Cardano, FOMC, SOL, Solana

Do you expect cardano to rally following today’s interest rate decision? Let us know your thoughts in the comments.

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF), appeared in court with his newly appointed lawyer Mark Cohen, and his legal team asked the Bahamian judge Joyann Ferguson-Pratt to release SBF on bail with an ankle bracelet. Amid the lengthy court hearing reports detail that SBF’s parents Joseph Bankman and Barbara Fried attended the proceedings. Toward the end of the hearing, judge Ferguson-Pratt denied SBF’s request to be released on bail and remanded Bankman-Fried to the Bahamian jail until Feb. 8, 2023.

During the first week of November, the co-founder of FTX Sam Bankman-Fried’s (SBF) world turned upside down. It all started when Coindesk published an expose on SBF’s quantitative trading firm Alameda Research and the enormous balance of FTT tokens the company held. After the report, FTX and Alameda were under the spotlight and Binance’s CEO Changpeng Zhao (CZ) revealed his exchange would be dumping all of its FTT tokens.

These two events fueled speculation that FTX and Alameda were insolvent and on Nov. 8, 2022, Binance said it would purchase FTX after doing due diligence into the company’s financials. However, the deal never panned out, and at 4:00 p.m. (ET) on Nov. 9, 2022, the world’s largest crypto asset exchange by trade volume announced it would be backing out of purchasing FTX.

At this point in time, all the digital assets from FTX’s coffers were either withdrawn by customers (many of whom were Bahamas natives) or simply disappeared. Two days after Binance backed out of the deal, SBF announced that FTX and Alameda had filed for Chapter 11 bankruptcy protection, alongside roughly 130 associated companies.

SBF also revealed he had stepped down from his position as FTX’s CEO and John J. Ray III took the position in order to deal with the bankruptcy and restructuring process. Since the bankruptcy filing, SBF embarked on a media tour doing a large number of interviews, while a significant amount of troubling evidence was being reported by numerous media publications.

Prior to SBF’s arrest in The Bahamas, a report published by the Australian Financial Review (AFR) detailed that FTX’s SBF and his inner circle used a secret chat group called “Wirefraud.” AFR’s United States correspondent Matthew Cranston said “[AFR] has [learned] that FTX founders Sam Bankman-Fried and Zixiao ‘Gary’ Wang, along with FTX engineer Nishad Singh and former Alameda Research chief executive Caroline Ellison, used a chat group on Signal in the hope that the information would remain hidden.”

24 after the AFR report was published, Bankman-Fried was arrested. The FTX co-founder was also indicted by a federal grand jury in Manhattan, and charged with eight counts of financial fraud by the Southern District of New York (SDNY) prosecutor Damian Williams. SBF was further charged by the U.S. Securities and Exchange Commission (SEC) and sued by the Commodity Futures Trading Commission (CFTC).

The same day, SBF appeared in court and his legal team attempted to get him released on bail. One report notes that Joseph Bankman and Barbara Fried, SBF’s parents, attended the court hearing. SBF’s mother allegedly laughed out loud every time her son was called a “fugitive,” and his father put his fingers in his ears. His lawyer, Mark Cohen, the attorney who represented Ghislaine Maxwell during her sex trafficking trial, attempted to get SBF released on $250,000 bail.

SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’
SBF’s father Joseph Bankman (pictured left). SBF’s parents Joseph Bankman and Barbara Fried (pictured right at the court hearing on Tuesday). Despite SBF saying his parents were not involved with FTX’s dealings, the New York Times (NYT) detailed that “[Joseph Bankman] was a paid FTX employee who traveled frequently to the Bahamas.” The NYT report also says SBF’s parents have become “the subject of gossip on Stanford’s campus.” “I had a friend who said, ‘You don’t want to be seen with them,’” a former dean at Stanford and a close friend of the Bankman-Fried family told the NYT reporter.
Cohen is quoted as saying that his client “suffered from depression, insomnia, and ADD for over a decade.” During the hearing, prosecutors argued that SBF was a “flight risk” due to all of his financial connections. However, judge Ferguson-Pratt did not seem swayed by the claims that said SBF suffered from alleged mental issues, and the fact that SBF had surrendered his passport.

Judge Ferguson-Pratt told the court that bail was denied and SBF was to remain in custody until his Feb. 8, 2023 court hearing. Following the decision, the New York Post reports that SBF lowered his head, and gave his parents a hug before being escorted out of the courthouse in handcuffs.

What do you think about SBF’s recent arrest and the accusations that say his inner circle were part of a secret chat group called “Wirefraud?” What do you think about the Bahamian judge denying SBF’s bail? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: New York Post, Eyewitness News Bahamas,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

On Tuesday, the former CEO of FTX, Sam Bankman-Fried (SBF), appeared in court with his newly appointed lawyer Mark Cohen, and his legal team asked the Bahamian judge Joyann Ferguson-Pratt to release SBF on bail with an ankle bracelet. Amid the lengthy court hearing reports detail that SBF’s parents Joseph Bankman and Barbara Fried attended the proceedings. Toward the end of the hearing, judge Ferguson-Pratt denied SBF’s request to be released on bail and remanded Bankman-Fried to the Bahamian jail until Feb. 8, 2023.

During the first week of November, the co-founder of FTX Sam Bankman-Fried’s (SBF) world turned upside down. It all started when Coindesk published an expose on SBF’s quantitative trading firm Alameda Research and the enormous balance of FTT tokens the company held. After the report, FTX and Alameda were under the spotlight and Binance’s CEO Changpeng Zhao (CZ) revealed his exchange would be dumping all of its FTT tokens.

These two events fueled speculation that FTX and Alameda were insolvent and on Nov. 8, 2022, Binance said it would purchase FTX after doing due diligence into the company’s financials. However, the deal never panned out, and at 4:00 p.m. (ET) on Nov. 9, 2022, the world’s largest crypto asset exchange by trade volume announced it would be backing out of purchasing FTX.

At this point in time, all the digital assets from FTX’s coffers were either withdrawn by customers (many of whom were Bahamas natives) or simply disappeared. Two days after Binance backed out of the deal, SBF announced that FTX and Alameda had filed for Chapter 11 bankruptcy protection, alongside roughly 130 associated companies.

SBF also revealed he had stepped down from his position as FTX’s CEO and John J. Ray III took the position in order to deal with the bankruptcy and restructuring process. Since the bankruptcy filing, SBF embarked on a media tour doing a large number of interviews, while a significant amount of troubling evidence was being reported by numerous media publications.

Prior to SBF’s arrest in The Bahamas, a report published by the Australian Financial Review (AFR) detailed that FTX’s SBF and his inner circle used a secret chat group called “Wirefraud.” AFR’s United States correspondent Matthew Cranston said “[AFR] has [learned] that FTX founders Sam Bankman-Fried and Zixiao ‘Gary’ Wang, along with FTX engineer Nishad Singh and former Alameda Research chief executive Caroline Ellison, used a chat group on Signal in the hope that the information would remain hidden.”

24 after the AFR report was published, Bankman-Fried was arrested. The FTX co-founder was also indicted by a federal grand jury in Manhattan, and charged with eight counts of financial fraud by the Southern District of New York (SDNY) prosecutor Damian Williams. SBF was further charged by the U.S. Securities and Exchange Commission (SEC) and sued by the Commodity Futures Trading Commission (CFTC).

The same day, SBF appeared in court and his legal team attempted to get him released on bail. One report notes that Joseph Bankman and Barbara Fried, SBF’s parents, attended the court hearing. SBF’s mother allegedly laughed out loud every time her son was called a “fugitive,” and his father put his fingers in his ears. His lawyer, Mark Cohen, the attorney who represented Ghislaine Maxwell during her sex trafficking trial, attempted to get SBF released on $250,000 bail.

SBF to Remain in a Bahamian Jail for 2 Months, Report Claims FTX Execs Had a Covert Chat Channel Called ‘Wirefraud’
SBF’s father Joseph Bankman (pictured left). SBF’s parents Joseph Bankman and Barbara Fried (pictured right at the court hearing on Tuesday). Despite SBF saying his parents were not involved with FTX’s dealings, the New York Times (NYT) detailed that “[Joseph Bankman] was a paid FTX employee who traveled frequently to the Bahamas.” The NYT report also says SBF’s parents have become “the subject of gossip on Stanford’s campus.” “I had a friend who said, ‘You don’t want to be seen with them,’” a former dean at Stanford and a close friend of the Bankman-Fried family told the NYT reporter.
Cohen is quoted as saying that his client “suffered from depression, insomnia, and ADD for over a decade.” During the hearing, prosecutors argued that SBF was a “flight risk” due to all of his financial connections. However, judge Ferguson-Pratt did not seem swayed by the claims that said SBF suffered from alleged mental issues, and the fact that SBF had surrendered his passport.

Judge Ferguson-Pratt told the court that bail was denied and SBF was to remain in custody until his Feb. 8, 2023 court hearing. Following the decision, the New York Post reports that SBF lowered his head, and gave his parents a hug before being escorted out of the courthouse in handcuffs.

What do you think about SBF’s recent arrest and the accusations that say his inner circle were part of a secret chat group called “Wirefraud?” What do you think about the Bahamian judge denying SBF’s bail? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: New York Post, Eyewitness News Bahamas,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days

Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.

PRESS RELEASE. After securing over fourteen contracts with the Department of Defense and other federal departments since 2017, the US General Services Administration (GSA) has awarded SIMBA Chain, the leading blockchain enterprise service, a Multiple Award Schedule (MAS) contract. This long-term, government-wide contract permits SIMBA Chain to supply its blockchain solutions and services to all Federal US agencies for up to 20 years.

With this move, SIMBA Chain has become one of the first blockchain service providers approved by the GSA. The first-of-its-kind contract will allow the company to expand its business across the public and private sectors, creating opportunities to expand the reach and impact of blockchain technology as an enterprise solution.

The GSA is an increasingly important independent agency of the US government. Its MAS contracts aim to provide federal, state, and local governments with access to products and services deemed as fair and reasonable. As of 2022, the agency accounts for over $40 billion in annual contract spending.

“With this MAS contract, SIMBA has reached a major milestone in the push for blockchain adoption in the Government sector. Being one of the first blockchain solutions listed on the GSA schedule validates our commitment to the application of blockchain technology in government organizations, and will allow us to expand from the DoD and DoE to not only other federal branches of government, but also states, and municipalities. Blockchain can help resolve so many of the challenges within transferring of titles, permit processes, supply chain, monetary management and more” says Dr. Bryan Ritchie, CEO of SIMBA Chain.

Since inception, SIMBA Chain has built several state-of-the-art blockchain applications for the US Navy, Air Force, Space Force, and other government branches. Each of these solutions has significantly enhanced supply chain management, accountability, and financial oversight while also reducing intermediary and development costs. Thanks to the recently awarded SIMBA Chain MAS contract, more government agencies will have the opportunity to improve their operations while achieving greater supply chain and financial transparency.

About SIMBA Chain

Incubated at the University of Notre Dame in 2017, SIMBA Chain (short for Simple Blockchain Applications) provides a scalable enterprise platform that simplifies blockchain development. With fewer barriers to entry, companies can build secure, scalable, enterprise-grade solutions that integrate seamlessly with existing data systems. SIMBA implementations generate value for major government organizations, enterprises, and blockchain companies as a production-grade platform that enables public, private, or hybrid deployments.

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'

The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.

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