Latest Crypto News

  • Bitcoin price fails to hold $20K again, but there is a silver lining News - 2 hours ago
    BTC’s attempt to recapture $20,000 as support failed, but on-chain data reveals a handful of positives. Markets briefly flashed green on Sept. 27 as equities markets bounced back from Sept. 26’s pullback, bringing the Bitcoin (BTC) price back to the long-term descending trendline resistance, which currently resides at $20,100. Unfortunately for bulls, the positive momentum for stocks and cryptocurrencies rapidly eroded and Bitcoin price gave up a majority of the intraday gains as it slipped back below $19,000. As has been the case since March 25, BTC price has been unable to kick above the resistance for more than a few hours and the Sept. 27 breakdown at the trendline continues the trend of successive bear flags that see a continuation to the downside. BTC/USD 1-day chart. Source: TradingViewAccording to Arcane Research, Bitcoin’s tight rally above $20,000 is relatively insignificant, given that futures premiums are still low and it “contributes little to improving the market risk appetite.” BTC perpetual contract funding rate versus Bitcoin price. Source: Arcane ResearchAdditional data from Arcane Research shows funding rates flipping neutral for the first time since Sept. 13, but generally, traders are reluctant to add longs, given the concerns over macro challenges and the continuous threat of unfriendly crypto regulation. There is a silver liningAs mentioned in previous analysis, despite the breakouts and breakdowns, BTC price is simply trading within the exact same $24,300 to $17,600 range of the past 103 days. To date, a catalyst to set off a breakdown below swing lows or to push price above resistance and confirm the former hurdle as support has yet to occur. Fortunately, it’s not all doom and gloom for Bitcoin. A positive bit of news comes from on-chain analytics provider Glassnode, who noted that more mature investors have decided to hunker down and hold their positions rather than sell at the current price. According to the Revived Supply 1+ Years metric, an indicator that tracks the “total amount of coins that come back into circulation after being untouched for at least 1 year,” the flow of latent supply shifting back into the active supply pool is “extremely low.” Revived Supply 1 year+ Z Score. Source: glassnodeThe compression in mature spending seen in the last stages of the 2018 bull market is not present during the most recent revisits below $20,000, suggesting that long-term holders are well accustomed to volatility and unwilling to sell at the current prices. Revived Supply 1 year+ Z Score. Source: glassnodeGiven that BTC is 72% down from its all-time high and a portion of investors expect prices to crumble toward $10,000 in the next unexpected capitulation event, one could interpret the lack of panic selling from mature investors as positive. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Japan preparing amendment to enforce FATF travel rules on crypto by May 2023: Report News - 3 hours ago
    Meeting international Anti-Money Laundering standards is the latest in a series of measures Japan has taken in recent months to improve its cryptocurrency regulation. Japan is expected to enact new rules on money transfers to prevent the use of crypto for money laundering, according to local news agency Nikkei. The changes will bring Japan up-to-date with Financial Action Task Force (FATF) recommendations.An amendment to the Act on Prevention of Transfer of Criminal Proceeds will be introduced in the National Diet on Oct. 3 that will add crypto to the so-called travel rules on money transfers, Nikkei reported. The rules will be amended to require exchange operators to collect customer information in transactions involving cryptocurrency and stablecoins — as they already do for cash transactions. The Foreign Exchange and Foreign Trade Act and the International Terrorist Asset-Freezing Act will be updated to reflect the same changes, which will go into effect in May 2023. The amendment foresees the issuance of “administrative guidance and corrective orders” to exchanges that break the new rules, with criminal penalties for violations of thecorrective orders.Coming soon… FATF’s country assessment of Japan.#FollowTheMoney #StopMoneyLaundering #AML— FATF (@FATFNews) August 27, 2021 The amendment will incorporate into Japanese law recommendations the FATF introduced in 2019 and updated in 2021 for virtual asset service providers. The FATF is an intergovernmental money laundering and terrorist financing watchdog. The agency has had limited success with the adoption of its Travel Rule. According to a report released in April, hardly more than half of the countries surveyed by the FATF had adequate Combating the Financing of Terrorism (CFT) and Anti-Money Laundering (AML) laws and regulations. Related: After four years, Japan brings back its first crypto ATMJapan has taken important steps to regulate crypto in recent months. The parliament passed a law to limit the issuance of stablecoins by non-bank institutions in June. In July, the Ministry of Economy, Trade and Industry opened a Web3 Policy Office to foster the Web3 business environment. In addition, there are reports that the Financial Services Agency, the Japanese tax authority, is considering easing the punishing capital gains rates on crypto assets after extensive outcry within the industry.
  • FCA green lights Revolut, making no UK crypto firms operating under temporary status News - 4 hours ago
    Revolut had been the last “holdout” out of the 12 companies originally granted FCA temporary registration to continue offering crypto services in March. The United Kingdom’s Financial Conduct Authority, or FCA, has added cryptocurrency-friendly payments app Revolut to its list of companies authorized to offer crypto products and services in the country.In a Monday update to its list of registered crypto asset firms in the U.K., the FCA showed Revolut was in compliance with amended regulations from 2017 on “Money Laundering, Terrorist Financing and Transfer of Funds.” The fintech firm joined 37 other companies with the green light to offer crypto services in the country after being granted an extension to operate as a crypto asset firm with temporary registration in March.Firms offering crypto-related products and services in the U.K. are permitted to operate following registration with the FCA, a rule in force since 2020. However, following a crackdown in the country on Anti-Money Laundering, or AML, and Combatting the Financing of Terrorism, or CFT, requirements, many companies, including Revolut, were granted temporary registration status, allowing them to operate while seemingly waiting for full compliance. At the time of publication, there were no crypto asset firms still operating under the FCA’s temporary status. Revolut had been the last “holdout” out of the 12 companies originally granted temporary registration in March.A Sept. 5 report from the Financial Times suggested the U.K. Financial Reporting Council found flaws in an audit of Revolut, which included an “unacceptably high” risk of “material misstatement.” As of July 31, Revolut was valued as a $33-billion fintech firm following an $800-million investment round.Related: FCA highlights limited role as unregistered businesses continue to operateThere has been a major shakeup in the U.K. politically following Prime Minister Liz Truss replacing Boris Johnson and the subsequent death of Queen Elizabeth II. The government announced on Sept. 22 that lawmakers had introduced the Economic Crime and Corporate Transparency Bill — legislation aimed at empowering the country’s National Crime Agency to “seize, freeze and recover” crypto assets. However, Truss’ Economic Secretary Richard Fuller has also spoken of making the U.K. the “dominant global hub for crypto technologies.”
  • Brett Harrison will step down as FTX US president, move into advisory role News - 4 hours ago
    The soon-to-be former president said he would continue to assist CEO and founder Sam Bankman-Fried “to ensure FTX ends the year with all its characteristic momentum.” The president of cryptocurrency exchange FTX US, Brett Harrison, has announced he will be transitioning into an advisory role in the next few months.In a Sept. 27 announcement on Twitter, Harrison said he will be resigning his position as FTX US president but will remain with the exchange “with the goal of removing technological barriers to full participation in and maturation of global crypto markets, both centralized and decentralized.” Harrison has worked as FTX US president since May 2021, following a job at Citadel Securities. “I can’t wait to share more about what I’m doing next,” said Harrison. “Until then, I’ll be assisting Sam [Bankman-Fried] and the team with this transition to ensure FTX ends the year with all its characteristic momentum.”1/ An announcement: I’m stepping down as President of @FTX_Official. Over the next few months I’ll be transferring my responsibilities and moving into an advisory role at the company.— Brett Harrison (@BrettHarrison88) September 27, 2022 Related: Regulators have a weak case against FTX on deposit insuranceHarrison’s announcement was the latest high-profile resignation in the crypto space. Alex Mashinsky said on Sept. 27 that he would be leaving his position as Celsius CEO effective immediately, citing the “difficult financial circumstances” users were facing. On Sept. 21, Kraken’s Jesse Powell announced chief operating officer Dave Ripley will be replacing him as CEO once Ripley’s position was filled. Powell will stay on with the exchange as a board member. Michael Saylor announced in August that he would step down as CEO of business intelligence firm MicroStrategy but remain as executive chair.
  • Bitcoin price loses $20K as trader warns US dollar 'not quite topped out' News - 4 hours ago
    Bitcoin fails to avoid returning back under $20,000 after local highs prove too much to sustain. Bitcoin (BTC) crossed under $20,000 after the Sept. 27 Wall Street open as United States equities inched higher.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewU.S. dollar has room to run — traderData from Cointelegraph Markets Pro and TradingView confirmed the $20,000 mark barely remaining as tentative support on the day.BTC/USD had managed local highs of $20,344 on Bitstamp overnight, while retracing U.S. dollar strength gave modest relief to risk assets across the board. The S&P 500 and Nasdaq Composite Index had been up 0.4% and 0.65%, respectively, after two hours’ trading, but subsequently reversed.At the same time, the U.S. dollar index (DXY) was down 0.15% on the day, back below the 114 mark but still near its highest since mid-2002. “U.S. open coming up. Green numbers, while Yields & $DXY are correcting,” Michaël van de Poppe, founder and CEO of trading firm Eight, commented. “Time for Q4 to be good for crypto.” Popular trader Crypto Tony nonetheless cautioned on assuming that DXY had put in a major top.“Bad news for the Bitcoin pump, the Dollar has not quite topped out yet, so we are looking for more pumps on the dollar and setbacks on $BTC,” he decided. “Keep an eye on both of these if you plan on leveraging BTC.”U.S. dollar index (DXY) 1-day candle chart. Source: TradingViewBinance BTC/USDT volume hits all-time highWith days to go before the monthly close, further BTC price volatility was expected, while traders demanded that October — traditionally a better month than September for crypto return — deliver the goods in 2022.Related: More ancient Bitcoin leaves its wallet after 10-year hibernation“Tracking price action over the past decade, Sept. has far and away been the worst performing month for BTC — closing positive only 20% of the time,” popular trading account Crypto Kaleo observed in a thread on Sept. 26. “Silver lining — Oct. has been one of the best months for BTC — positive 78% of the time w/ a median gain of 28%.”A close above $20,000 would be just enough for Bitcoin’s first “green” September since 2016.BTC/USD monthly returns chart (screenshot). Source: CoinglassIn a sign of what the monthly close might have in store, meanwhile, major exchange Binance recorded its highest-ever daily trading volume for its BTC/USDT pair, with over 439,000 BTC equivalent changing hands.BTC/USDT 1-day candle chart (Binance) with volume. Source: TradingViewThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • The British pound collapse and its impact on cryptocurrency: Watch the Market Report News - 5 hours ago
    On this week’s episode of The Market Report, Cointelegraph’s resident experts discuss the fall of the British pound and its impact on the cryptocurrency market. On this week’s The Market Report show, Cointelegraph’s resident experts discuss why the British pound is at its all-time low and how that might impact the cryptocurrency market.To kick things off, we break down the latest news in the markets this week:Bitcoin gains 5% to reclaim $20K, eyes first ‘green’ September since 2016A classic snap of sideways trading action sees Bitcoin’s (BTC) price aim higher, but concerns remain over what happens next. Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it added over 7% after the Sept. 26 close. Local highs of $20,344 appeared on Bitstamp before the pair began consolidating at around $20,200. Can Bitcoin achieve a green monthly close, and will the bulls be able to beat “Septembear?”Is it Bitcoin’s time to shine? British pound drops to all-time low against the dollarOn Sept. 26, the British pound hit a record low against the United States dollar following the announcement of tax cuts and further debt increases to curb the impact of a possible economic recession. But could the British pound’s weakness be a positive for Bitcoin? Is it possible for the general population to move to cryptocurrencies once it realizes that people’s savings and investments are being devalued more aggressively?Charles Hoskinson and Ethereum dev get into a war of words post-Vasil upgradeCharles Hoskinson, founder of Cardano and co-founder of Ethereum, got into a war of words with Ethereum developers on the implementation of the proof-of-stake consensus via the Ethereum Merge. Hoskinson is known for his hot takes on his former project, and the bad blood between the two communities is nothing new. However, with both blockchains undergoing key upgrades on their networks, the recent exchange between the two sides highlights the disconnect between blockchain communities.Next up is a segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Choosing a long-term coin.Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. The experts also go over some market news to bring you up to date on the latest regarding the top two cryptocurrencies.Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. Our analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: XRP and Digg.Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room and write your questions there. The person with the most interesting comment or question will be given a one-month subscription to Markets Pro, worth $100.The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those Like and Subscribe buttons for all our future videos and updates.
  • Crypto-focused MPC developer raises $40M News - 5 hours ago
    Multi-party computation, or MPC, is a subset of cryptography that distributes computation across multiple parties. Multi-party computation (MPC) developer MPCH Labs has concluded a Series A funding round totaling $40 million ahead of the planned launch of its Fraction digital asset operating platform later this year. The funding round was led by Liberty City Ventures, the same venture studio that incubated MPCH Labs, with additional participation from QCP Capital, Global Coin Research, Polygon Studios, Quantstamp, LedgerPrime, Animoca and others. To date, MPCH Labs has raised $50 million in venture financing.The funding will be used to further develop MPCH Labs’ first product, Fraction, an operating platform that enables institutions to securely safeguard their digital assets. Fraction utilizes MPCH Labs’ MPC6 engine, which enables multiple parties to compute in the same wallet without compromising their data. According to its developers, MPC6 engine will create a “user-centric toolkit” for both crypto-native and traditional institutions. According to Cat Le-Huy, MPCH Labs’ chief product officer and co-founder, Fraction was designed to enable wider crypto adoption and will be launched sometime in the fourth quarter of 2022. “Use of MPC (beyond crypto or even within crypto) is to use MPC for process management,” MPCH Labs CEO Miles Parry told Cointelegraph in a written statement. “The policy engine for MPC6 can be used for any purpose where it makes sense to cryptographically bind multi-faceted and multilayered approval processes.”The fight for privacy continues, and Web3 gives people the opportunity to take their power back.— Cointelegraph (@Cointelegraph) April 25, 2022 As reported by Cointelegraph, organizations from across the crypto ecosystem have looked to MPC as a means to advance Web3, a broad concept that refers to some future iteration of the internet. Specifically, MPC is being used to build private key security and decentralization within Web3 systems as a way to boost privacy and confidentiality. Related: Crypto Biz: DID you see what Africa is doing with Web3?On the topic of venture capital, the crypto bear market has taken the wind out of startup raises in recent months. The blockchain industry generated $1.36 billion worth of venture funding in August, the fourth consecutive monthly decline and the lowest level in a year, according to Cointelegraph Research.
  • Axelar, Mysten Labs partner on cross-chain communication for super DApps News - 5 hours ago
    Integration will roll out before the end of 2022, enabling General Message Passing on Sui blockchain. The proof-of-stake (PoS) blockchain Axelar and the infrastructure company behind Sui blockchain, Mysten Labs, disclosed a partnership on Sept. 27 to deliver cross-chain communication for developers through General Message Passing, aiming to advance the prospect of a “super DApp.” Integration is expected to be completed before the end of the year.The collaboration will enable DApps created in Move — Mysten’s programming language — to call any function on any external chain. According to the companies, developers will be able to provide users with the ability to “’tap in’ with whatever token, wallet, and blockchain they desire, with no need to bridge or swap to access features.” The companies also stated that theuse cases range from incorporating liquidity into Web3 games to leveraging digital assets as collateral for multichain lending and borrowing.Speaking to Cointelegraph, Sergey Gorbunov, Axelar CEO and co-founder, explained:”The permissionless, open nature of Web3 gives it an advantage that hasn’t yet been tapped. In Web2, super apps are based on monopolies or oligopolies. In Web3, developers can compose at will – but until now, this composability has been constrained within the limits of existing ecosystems. General Message Passing, combined with the power of the Move programming language and the Sui blockchain, gives developers a set of tools unequaled even in Web2.”Cross-chain technology facilitates data interchange among distributed ledger technology (DLT) designs or external systems, thus helping in achieving interoperability, which can improve the security of designs, and boost flexibility and performance. In a nutshell, cross-chain communication eliminates the need for developers to identify the chain with the most users or the most liquidity. Gorbunov claimed that the partnership will also accelerate the migration of developers from the Web2 industry to blockchain, as it allows them to connect features to their applications from other blockchains and assets to the Sui network. Web3 development saw unprecedented growth in the crypto space last year, with over 34,000 new developers contributing to code Web3 projects.The Axelar Network achieved unicorn status in February after closing a $35 million Series B funding round. Participants included Dragonfly Capital, Polychain Capital and North Island Ventures. Its blockchain connects Web3 ecosystems such as Avalanche and Polkadot. Recently, Mysten Labs announced a $300 million Series B investment round to speed up the adoption of its Sui blockchain ecosystem, a proof-of-stake (PoS) layer-1 blockchain that uses a feature called “transaction parallelization” to achieve high throughput, low latency transactions and low transaction fees.
  • Celsius CEO Alex Mashinsky resigns News - 5 hours ago
    “I am very sorry about the difficult financial circumstances members of our community are facing,” writes Mashinsky. According to a new press release published on Tuesday, Alex Mashinsky, CEO of troubled crypto lender Celsius Network, has resigned effective immediately. In explaining the decision, Mashinsky wrote: “I regret that my continued role as CEO has become an increasing distraction, and I am very sorry about the difficult financial circumstances members of our community are facing. Since the pause, I have worked tirelessly to help the company and its advisors put forward a viable plan for the Company to return coins to creditors in the fairest and most efficient way.”Founded in 2017, Celsius Network was a rising star in the crypto-lending space, surpassing over 1.7 million customers, $25 billion in assets under management and $850 million in cumulative interest paid earlier this year. However, its fortunes took a drastic turn when the ongoing crypto winter exposed the firm’s risky, leveraged trading practices.As a result, the company halted all consumer withdrawals in June and was left with a balance sheet gap of nearly $2.85 billion. Prominent stakeholders, such as the Quebec Pension Fund, lost almost the entirety of their investment in the company. Even Celsius co-founder Daniel Leon declared in court that his equity was “worthless.” The firm is currently undergoing bankruptcy proceedings. Mashinsky has tried to revive the company by restructuring it to focus on crypto custody. He also allegedly shared plans to turn its debt into cryptocurrency and airdrop it to creditors. After Celsius’ collapse, rumors circulated that Mashinsky tried to flee the United States, which he denied. Mashinsky was voted #64 on Cointelegraph’s Top 100 in Crypto and Blockchain list for 2022.
  • Bitcoin, British pound trading volume soars 1,150% as UK’s currency risks dollar parity News - 5 hours ago
    Doom and gloom for some British pound investors is neatly avoided with a Bitcoin flight. Bitcoin (BTC) will see increased interest from the United Kingdom “very quickly” as fiat currency volatility makes BTC look like a stablecoin.That was the conclusion from Gabor Gurbacs, strategy adviser at investment giant VanEck, who was one of many flagging Bitcoin’s appeal over the pound this week.U.K. becomes fertile ground for Bitcoin “orange pill”As the U.S. dollar runs rampant, its strength has come at the expense of trading partner currencies, notably the euro, pound and Japanese yen.The pound’s disintegration gathered pace this week as GBP/USD hit its lowest on record at nearly $1.03.With the United Kingdom’s central bank, the Bank of England, avoiding interventions so far, nerves are showing as purchasing power takes a double hit from currency weakness and inflation at 4-year highs.“The United Kingdom will get orange-pilled very quickly given GBP volatility,” Gurbacs predicted.“Given that the UK is now outside of the EU bureaucratic apparatus, it will get another chance to become a Bitcoin hub. I think UK leaders will use this opportunity reasonably well.”The pound was down nearly 25% year-to-date at one point in dollar terms. While data from Cointelegraph Markets Pro and TradingView shows that Bitcoin beats it at 56%, the longer the time horizon, the more attractive a BTC hedge becomes.“Over the past four years the dollar has collapsed -67% gains USD,” Michael Saylor, executive chairman and former CEO of MicroStrategy, noted in his own assessment of fiat currency losses on Sept. 26.BTC/USD vs. GBP/USD chart. Source: TradingViewAccording to data from CoinShares head of research James Butterfill, trade volume for the GBP/BTC pair on exchanges Bitstamp and Bitfinex, usually worth a combined $70 million per day, hit a giant $881 million on Sept. 26 — an increase of over 1,150%.Butterfill argued this showed that “When a FIAT currency is threatened, investors start to favour Bitcoin.”Reacting, Saifedean Ammous, author of the popular book The Bitcoin Standard, called the phenomenon “fascinating.”GBP/USD trade volume on Bitstamp, Bitfinex chart. Source: James Butterfill/TwitterG20 is “starting to understand” the need for a BTC hedgeGurbacs, meanwhile, acknowledged that while he “might be too optimistic about the UK,” G20 countries could yet enact a major policy shift vis-a-vis BTC acceptance.Related: Bitcoin gains 5% to reclaim $20K, eyes first ‘green’ September since 2016“Like gold, Bitcoin could be a hedge against their own policies. Which is worth a small % allocation and support,” he continued. “Some are starting to understand this.”Beyond the pound, data shows that the major fiat currencies are suffering more at the hands of a surging greenback than those of emerging markets (EMs).“The tables have turned,” Robin Brooks, chief economist at the Institute of International Finance, declared this week. “Emerging markets like Brazil and Mexico are year-to-date outperforming G10 currencies against the Dollar. This is a big pivot in global markets that’s unprecedented. EM monetary policy is these days more orthodox than in advanced economies. Well done EM…”An accompanying chart from Bloomberg showed the Brazilian real and Mexican peso gaining even on the dollar in 2022.The pound brought up the rear along with the yen, while the Russian ruble was notably absent, having hit its highest in dollars since 2015.Fiat currency returns vs. U.S. dollar as of Sept. 26. Source: Robin Brooks/TwitterThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Microsoft, Avalanche, Polygon join $20M funding of Web3 automation startup News - 6 hours ago
    Web3 data firm Space and Time is also supported by blockchain oracle firm Chainlink through its startup program. Web3 and tech companies have participated in a funding round for data platform Space and Time, which aims to transform central databases into trustless data sources powered by smart contracts.In an announcement sent to Cointelegraph, Space and Time mentioned that it raised $20 million in strategic funding from investors like Microsoft’s M12 fund — the venture capital arm of Microsoft — Avalanche and Polygon. Investors also included Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Stratos, Hash CIB, Coin DCX, and other Web3 communities and angel investors. Nate Holiday, the co-founder and CEO of Space and Time, expressed his excitement to have the support of Microsoft’s venture capital fund. He stated that the firm is at the intersection of on-chain and off-chain data computation. According to Holiday, it will work with its partners to build a data ecosystem for decentralized applications and enterprises. Michelle Gonzalez, an executive at M12, expressed that M12 is looking forward to seeing the results and how centralized systems can be automated and connected to smart contracts. Space and Time has also partnered with blockchain oracle firm Chainlink and is a part of its “Startup with Chainlink” program. Sergey Nazarov, the co-founder of Chainlink, said that the firm would continue to support Space and Time in its quest to build a decentralized data warehouse. Related: Crypto investment product firm raises $25M to reach $2B valuationMeanwhile, even though the markets are down, Web3 projects are raking in millions in investments. On Sept. 13, Doodles, a nonfungible token (NFT) collection, announced that it raised $54 million in funding, pushing its valuation to $704 million. Earlier this month, the creators of the Sui blockchain announced that they raised $300 million that will be used to expedite the blockchain’s adoption and build its infrastructure. Mysten Labs, a firm founded by former Meta employees, said that it raised the funds through a funding round led by FTX ventures.
  • Nexo acquires stake in US chartered bank News - 7 hours ago
    By acquiring a stake in the holding company that owns Summit National Bank, Nexo plans to expand its financial product offerings in the United States. Digital asset lending platform Nexo has purchased a stake in a holding company that owns a federally chartered bank in the United States — a move Nexo said will enhance its ability to serve retail and institutional clients. Nexo disclosed Tuesday that it had acquired a stake in Hulett Bancorp, a holding company that owns the federally chartered Summit National Bank, which is regulated by the Office of the Comptroller of the Currency. The terms of Nexo’s acquisition and its ownership stake in Hulett Bancorp were not revealed. The acquisition gives Nexo and its customers the ability to open bank accounts with Summit National Bank. U.S.-based retail and institutional clients of Nexo will also have access to asset-back loans, card products, and escrow and custodial solutions offered through Summit. Founded in 1984, Summit National Bank was originally chartered in Wyoming as Hulett National Bank. The financial institution has four locations across Montana and Idaho. Big banks spent years calling Bitcoin and crypto a scam. But now they believe crypto is a “maturing asset class” similar to the internet in the mid-1990s. CT Business Editor @forgeforth_ has the scoop.— Cointelegraph (@Cointelegraph) February 11, 2022 As part of the new business relationship, Nexo co-founder and managing partner Kalin Metodiev will serve on Summit National Bank’s board. Forrest Gilman, who chairs Summit’s board, said Nexo will help transform the bank “into a fully-fledged fintech bank.”When asked about the process of acquiring an ownership stake in Hulett Bancorp, Tatiana Metodieva, Nexo’s head of corporate finance and investments, told Cointelegraph that “the deal was nearly two years in the making,” adding that her team “conducted talks with multiple other institutions before selecting Summit National Bank as a prudent investment and partner.”Metodieva also explained that the acquisition gives Nexo new “fintech capabilities” as it expands in the United States:”Nexo is looking to reach new clients and expand its addressable market in the U.S. through new fintech capabilities such as the ones we have the potential to develop with Summit National Bank. We will be unveiling more of our future plans for Nexo’s US expansion in the months to come.”Nexo has prioritized acquisitions as a way to strengthen its position amid the bear market. As reported by Cointelegraph, the firm hired Citibank in June to advise on how to acquire struggling crypto firms. At the time, the company said it believed the “crypto space is about to enter a phase of mass consolidation” following the implosion of major lending platforms. Related: US Fed vice chair Michael Barr favors hard line on crypto, OCC acting head no friendlierBy acquiring a stake in Hulett Bancorp, Nexo has signaled that it wants to expand its regulated crypto offerings and attract new users from traditional finance. This comes at a time when several states have pursued legal action against the crypto lender for allegedly failing to register its interest accounts.
  • Report: Korean authorities orders freeze of $67M of Bitcoin tied to Do Kwon News - 7 hours ago
    The latest discovery in the long-drawn Terra ecosystem saga contradicts many of Do Kwon’s early claims. South Korean authorities have requested crypto exchange OKX and Kucoin to freeze 3,313 Bitcoin (BTC) reportedly tied to Do Kwon, the co-founder of Terra blockchain developer Terraform Labs.Kwon, who is currently on the run from the Korean authorities in the securities violation case, reportedly created a new wallet on Sept. 15, just a day after a Korean court issued an arrest warrant against the fugitive crypto founder.According to the crypto analytic group Cryptoquant, a new BTC wallet was created under the name of Luna Foundation Guard (LFG), and a total of 3,313 BTC was then transferred to the KuCoin and OKX exchange.KuCoin received a total of 1,354 BTC, which were frozen immediately after the transfer, while OKX has reportedly ignored authorities’ requests. Thus, a total of 1,959 BTC couldn’t be frozen and could have been moved to other platforms.Cointelegraph reached out to both crypto exchanges for confirmation but didn’t get a response at press time.The movement of BTC from the LFG wallet raised many eyebrows as it contradicts Kwon‘s early claims of having used all the BTC in tLFG reserves to defend the TerraUSD Classic (USTC) peg. Related: Terra co-founder Do Kwon says he’s ‘making zero effort to hide’ following Interpol noticePrior to the issuance of his arrest warrant on Sept. 14, Kwon claimed that he was neither under investigation nor had he been contacted by any authorities, despite numerous reports of several investigations in South Korea. However, right after the arrest warrant was released, Kwon reportedly fled Singapore, forcing authorities to seek help from Interpol.On Sept. 26, Interpol issued a red notice against Kwon, confirming his fugitive status. However, despite all the evidence and an international notice against him, Kwon continues to tweet every now and then, claiming otherwise.For something that has notice in the name it sure gives no notice Tried to search it here, found nothing:— Do Kwon (@stablekwon) September 26, 2022 The $40 billion Terra ecosystem collapse led to a crypto market rout that wiped out nearly a trillion dollars from the crypto market. Even after such mayhem, Kwon continued to garner support from some sections of the community as he claimed his innocence and maintained he ha lost everything in the collapse.
  • Vietnam’s crypto adoption: Factors driving growth in Southeast Asia News - 7 hours ago
    Vietnam has the highest crypto adoption rate in the world. There are numerous factors driving the trend. The Southeast Asian nation of Vietnam now ranks among the top nations adopting cryptocurrencies. Indeed, the country has ranked first on Chainalysis’ Global Crypto Adoption Index for two years in a row.Chainalysis’ research methodology took into account population-adjusted adoption in crypto platforms ranging from centralized exchanges to peer-to-peer (P2P) payment networks. Web traffic to major crypto networks was analyzed to determine countries with the highest interest and adoption percentages.That said, Vietnam’s high adoption rate is a puzzling phenomenon, begging the question: Why is crypto adoption so high in the country?No cryptocurrency taxesThere are numerous reasons why the crypto adoption rate in Vietnam is so high and one of them is that, unlike in the United States and other major jurisdictions where cryptocurrency holdings are taxed, there are no crypto taxes in Vietnam. Right now, the Vietnamese government does not even recognize cryptocurrencies as legal tender. While the nation’s tax authorities have shown interest in taxing cryptocurrencies, they lack the mandate to designate them as taxable assets. As such, Vietnamese law is largely silent when it comes to crypto taxation. Consequently, financial institutions in the country are barred from handling them. However, Vietnamese citizens are allowed to possess and trade crypto.The lack of crypto taxes makes digital currencies ideal as investment instruments, hence the rise in adoption. The trade-off is that Vietnamese law doesn’t protect crypto users in the event of scams or losses. As such, cryptocurrencies cannot be used legally in trade relationships.However, the nation’s financial regulatory agencies are working to come up with elaborate crypto usage guidelines. This is following a July 2021 directive issued by Prime Minister Phạm Minh Chính in which he asked the State Bank of Vietnam to explore the benefits and downsides of digital currencies with a view to draft regulations. The institution is likely to come up with a raft of measures that include tax and user protection guidelines.Cointelegraph had the chance to speak with Gracy Chen, managing director of the Bitget cryptocurrency exchange, regarding Vietnam’s regulatory landscape and the developing situation. According to Chen, clear and robust regulations would allow institutional inventors in the country to start dealing in crypto, and this would be a big win for the industry: “When the regulation actually comes out, it may lead to a short-term impact on local fiat exchange trading, but in the longer term, clear regulation may encourage broader adoption and lay the groundwork for increased retail and institutional engagement since a better-regulated market will provide greater protection and increase trust of investors. So overall, the pros outweigh the cons.” Vietnam has a huge unbanked populationMany Vietnamese have limited access to standard financial services. According to a 2021 study carried out by Statista, the country ranks second among the top 10 unbanked nations. The report highlights that about 69% of the citizenry lacks access to typical banking services.World Bank estimates indicate that just over 61% of the country’s population resides in rural areas, where access to modern banking services is limited. This void is rapidly being filled by cryptocurrency networks. Novel revolutionary blockchain concepts such as decentralized finance (DeFi) are also gaining traction among Vietnamese crypto investors who wish to obtain credit for crypto investment purposes. DeFi is a hypernym for blockchain-based financial networks that provide services similar to those offered by banks. DeFi platforms allow users to earn interest on their money, lend and borrow funds, as well as trade in crypto derivatives. They also enable investors to safeguard their assets using DeFi insurance and don’t require paperwork. This makes them convenient for unbanked Vietnamese, especially those who wish to scale their crypto investments and earn passive income. Notably, Vietnam is ranked second among nations with the highest DeFi usage in the world, according to the 2021 Chainalysis Global DeFi Adoption Index report. RemittancesIn 2021, Vietnamese nationals living in the diaspora sent home over $18 billion in remittances, setting a new record, which made the country the eighth biggest remittance beneficiary in the world. This was a 3% increase from the $17.2 billion recorded in 2020.For Vietnamese who regularly send money to their families in Vietnam, transfer fees are often exorbitant. The surcharges usually include administrative fees and exchange rates. According to World Bank statistics, remittance costs to Vietnam average about 7% as of 2020.Exorbitant fees, in addition to the unbanked population’s lack of access to money transfer services, have made cryptocurrency transfers an appealing option for Vietnamese living abroad to help support their families back home. While blockchains do have transactions fees, they often pale in comparison to those of remittance networks, and furthermore are P2P and don’t rely on a middleman to complete the transaction.The rising popularity of GameFi Blockchain games with financial incentives, often referred to as GameFi, use innovative economic models that allow users to earn rewards while playing. The rewards are usually in the form of nonfungible tokens (NFTs) and cryptocurrencies.As cryptocurrencies are at the heart of GameFi environments, many gamers learn how they work as part of the gameplay, providing another avenue for adoption.According to Chainplay’s State of GameFi 2022 survey in August, 75% of GameFi crypto investors said that they started investing in digital currencies after joining GameFi platforms. GameFi, especially play-to-earn (P2E) games, are immensely popular in Vietnam and have contributed greatly to cryptocurrency adoption in the country.According to a 2021 research report published by data aggregation service Finder, Vietnam ranks sixth on the list of countries with the highest percentage of P2E gamers. According to the survey report, 23% of Vietnamese participants said that they had, at some point, played P2E games.Today, numerous GameFi startups have set up shop in the country due to the pervading NFT gaming culture, and this is, in turn, driving crypto adoption. The developers include Ancient8, Sipher and Summoners Arena.Notably, Axie Infinity, one of the most popular play-to-earn games in the world, has its roots in Vietnam.Chen said that the relationship between GameFi and crypto adoption is part of the reason why both sectors are thriving:“According to data from Google, Sensor Tower, and, Vietnam ranks first in Southeast Asia in producing applications and games in stores like Apple Store and Google Play. Meanwhile, the new huge crypto adoption all over the world last year was in part due to GameFi. These two factors are significantly connected, creating massive crypto adoption in Vietnam.” Cryptocurrencies as a hedge against inflationVietnamese citizens have, throughout history, preferred using other national currencies such as the United States dollar during times of economic turmoil and hyperinflation. In recent years, Vietnamese people have also been accumulating assets such as gold to hedge against inflation.At some point in the past decade, the Vietnamese citizens held as much as 400 tons of gold.Of course, the emergence of cryptocurrencies has also led to more Vietnamese citizens using them to hedge against inflation instead of tangible assets such as gold.While the Vietnamese central bank has warned individuals and institutions against dealing in virtual currencies due to their mercurial nature, dwindling faith in the Vietnamese dong has led to more Vietnamese investors turning to digital currencies. According to data derived from Statista, Bitcoin (BTC), which is widely used by investors as a hedge against inflation, is currently the most popular cryptocurrency in the country. The report reveals that search interest in the country for the prime cryptocurrency stands at about 84.5% relative to other cryptocurrencies.Crypto adoption in Vietnam is set to persist as more Vietnamese discover the convenience and possibilities of digital assets. Extensive regulations, however, appear to be a long way off. The State Bank of Vietnam has until 2023 to study the pros and cons of cryptocurrencies and come up with policy recommendations.
  • Ethereum fork token ETHPoW climbs 150% after smart contract hack — A fakeout rally? News - 7 hours ago
    ETHPoW’s hash rate and total value locked have risen significantly during its latest bull run. ETHW has logged a significant price rebound despite its blockchain network, ETHPoW, suffering a smart contract hack in the first week after its launch.The short analysis of the attack— BlockSec (@BlockSecTeam) September 18, 2022 Bull trap risks surround ETHW marketETHW rebounded more than 150% eight days after the attack and traded for around $10.30 on Sept. 27. Fundamentally, this suggests that traders ignored the hack and trusted ETHPoW’s long-term viability as a blockchain project.But from a technical perspective, the ETHW price rally has accompanied weaker trading volumes. In other words, fewer traders have been involved in the pumping of the ETHPoW token’s price in the past eight days, as the Bitfinex exchange data shows in the chart below.ETHW/USD daily price chart. Source: TradingViewThe growing divergence between ETHW’s rising prices and falling trading volumes suggests that traders’ interest in the ETHPoW token has been dwindling. In other words, ETHW’s price risks a sharp correction in the coming days.Related: Dogecoin becomes second largest PoW cryptocurrencyThis “bearish divergence” setup is supported by a descending trendline that has served as resistance for ETHW since Sept. 2. On the four-hour chart below, traders have shown their likelihood of dumping their ETHW positions near the said resistance. Moreover, even the token’s latest pullback move on Sept. 27 has originated near the same trendline, raising the possibility of an extended price correction.ETHW/USD four-hour price chart. Source: TradingViewAs a result, ETHW’s short-term technical bias is skewed toward the bears. So, if its correction extends, the PoW token risks falling into the $8–$9 price range, which also coincides with ascending trendline support, or a 25% drop from current price levels.ETHPoW hash rate recoversOn a brighter note, the ETHPoW’s network hash rate has recovered significantly since the smart contract hack, rising from 29.44 TH/s on Sept. 19 to 48.48 TH/s on Sep. 27. Although, the current hash rate is still down about 40% from its record high of 79.42 TH/s.ETHPoW hash rate performance since launch. Source: 2miners.comStill, a rising hash rate means more miners have joined the ETHPoW network after its split from the Ethereum proof-of-stake (PoS) chain on Sept. 15. In theory, it should ensure better protection against potential 51% attacks. Simultaneously, ETHPoW has witnessed a growth in its network’s total valued locked (TVL). As of Sept. 27, ETHPoW had 66,548 ETHW deposited across four decentralized exchanges functioning atop its blockchain compared to nearly 38,000 ETHW three days prior, or a 75% increase in the last three days.ETHPoW TVL as of Sep. 27, 2022. Source: Defi LlamaInterestingly, UniWswap, a fork of the Ethereum blockchain-based decentralized exchange Uniswap, comprises more than 50% of the ETHPoW chain’s TVL. DApps functional atop ETHPoW chain. Source: Defi LlamaOther DApps include PoWSea, a nonfungible token ( marketplace, as well as exchanges PoWSwap and HipPoWSwap.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Robinhood Web3 wallet enters beta, taps Polygon as first blockchain News - 8 hours ago
    As a blockchain network of choice, Polygon offers scalability, speed, low network fees and a robust developer ecosystem, according to Robinhood. Crypto and stock trading platform Robinhood announced the launch of Robinhood Wallet, a self-custody, Web3 wallet, with Polygon (MATIC) as its first supported blockchain.Robinhood launched the beta version of its Web3 wallet on iOS. It is being made available to the first 10,000 users who joined the waitlist in May 2022. Hosted first over the Polygon blockchain, Robinhood Wallet allows users to trade and swap cryptocurrencies with no network fees. Sharing his thoughts on the crypto wallet’s launch, Johann Kerbrat, chief technology officer of Robinhood Crypto, Robinhood’s crypto trading platform said:“Like we did with the stock market, Robinhood Wallet strips away some of the complexities of web3 and DeFi to make crypto more accessible to everyone.”For Robinhood, Polygon, as a blockchain network of choice, additionally offers scalability, speed, low network fees and a robust developer ecosystem. Robinhood’s symbiotic relationship with Polygon dates back to August 2022, when the platform added support for MATIC withdrawals and deposits on the Polygon proof-of-stake (PoS) chain. However, Robinhood Wallet’s roadmap includes extending compatibility with other blockchains as well. The beta release will allow users to perform common tasks such as trading, rewards, storage and DApp-based yield farming of cryptocurrencies.Future iterations of the wallet will include support for the nonfungible token (NFT) marketplace. Robinhood revealed that over 1 million users have signed up for the waitlist.Related: Polygon CSO blames Web2 security gaps for recent spate of hacksA report from June 2022 suggested that cryptocurrency derivatives exchange FTX is eyeing the acquisition of Robinhood. Although the decision about an official takeover is not finalized, Bloomberg’s contact clarified that the discussion was purely internal and that the exchange has not yet approached Robinhood with a buyout proposal.“We are excited about Robinhood’s business prospects and potential ways we could partner with them. […] That being said, there are no active M&A conversations with Robinhood,” confirmed FTX CEO Sam Bankman-Fried.
  • Global think tank suggests blockchain in public finance can help reduce fraud News - 8 hours ago
    Modernizing public finance management through blockchain could help governments identify potential corruption and waste by providing additional transparency and traceability. The Official Monetary and Financial Institutions Forum, or OMFIF, an independent global think tank for central banking and economic policy, has released a report suggesting that blockchain technology in a public finance management system could provide information essential to “formulate and design fiscal policy.”According to a Tuesday report, the OMFIF said modernizing public finance management through blockchain could help governments identify potential corruption and waste by providing “enhanced transparency and traceability of payments.” The report suggested the technology could facilitate the prevention of embezzlement of funds given the global rise in fraud from cases including ransomware and cybersecurity attacks.In addition to helping reduce the risk of theft from invoice fraud — allowing users to send payments with “the click of a button” rather than providing personal information — the think tank reported that with the system set up for a central bank digital currency, “the government’s financial position” could be made clear. A system updated using blockchain could provide transparency for government spending.“While a digital currency would mesh well with this kind of system, it is certainly not a necessity,” said the report. “Many of the benefits can be achieved without changing payments rails, simply by improving the [public finance management] architecture. Governments would also be more effective at efficiently managing their cash and forecasting their future cash position.”Ernst & Young Global commented within the report:“Blockchain for public finance can reduce the administrative effort associated with financial reconciliations, tracking and reporting. Business terms or eligibility and compliance rules can be embedded into the system to automate transaction controls via smart contracts. Automated tracking and reporting can significantly reduce the cost for partners of interacting with government.”Related: UNCTAD takes aim at crypto in developing world in a series of critical policy briefsFounded in 2010, the OMFIF has released many reports on blockchain and digital assets. In 2020, the think tank launched the Digital Monetary Institute, aimed at bridging digital currencies with traditional financial institutions and a CBDC’s potential use in payments among wholesale and retail markets
  • Redditors share ‘reasonable’ goals in response to crypto billionaire survey News - 8 hours ago
    A survey showed that more than 70% of respondents believe they have the right tools to become crypto billionaires. While some Americans believe that they could become billionaires by trading cryptocurrencies, some Redditors think that it may be better to aim for lower and more reasonable goals, such as becoming millionaires. In a study, market research firm The Harris Poll surveyed 1,989 United States adults and found that more than 70% are confident that they have the right tools to become billionaires someday. However, community members on the cryptocurrency subreddit had other goals in mind. One commenter believes that instead of aiming to become billionaires, crypto investors should focus more on increasing people’s standard of living. They wrote: “Being a billionaire is a laughable goal because it is a move to the extreme. Lifting up the standard of living for all people […] is something that is actually attainable.” Responding to the poll results, one Redditor said that the other 30% of the poll respondents are more “reasonable,” and they may be only aiming to become millionaires. Following this, another commenter said that they would be happy if their crypto investments outperforms their 401k plan. On the other hand, some community members pointed out that due to inflation, a billion may not be so far off. Another said that if one can play their cards right, it just might happen. “Invest in shitcoins and hope to hit the jackpot,” they wrote. Related: The number of crypto billionaires is growing fast, here’s whyDespite the bear market, community members have been actively participating and sharing their thoughts on social media. On Sept. 23, Crypto Twitter answered Cointelegraph’s question about the bottom in crypto prices. While many are convinced that Bitcoin (BTC) may still go even lower and are bracing for further impact, some hope that this is truly the bottom so that the fun in the crypto markets will resume.
  • More ancient Bitcoin leaves its wallet after 10-year hibernation News - 9 hours ago
    BTC price action in 2022 is being accompanied by seriously old coins leaving hibernation after 10 years or more. Bitcoin (BTC) is seeing some of its oldest coins come back to life after a decade lying dormant.The latest on-chain data reveals that two-year BTC price lows have reawakened the most ancient part of the supply.”Very old” Bitcoin come back to lifeAs BTC/USD returns to levels not seen since Q4 2020, questions are arising over how long-term holders will respond.The on-chain picture is mixed — the dormant supply is aging, but certain old hands are showing signs of wanting to sell at current prices.The latest piece of the puzzle comes in the form of BTC returning to circulation after remaining in the same wallet for at least ten years.Off the menu since 2012 — or even before — a total of 510.65 BTC moved again for the first time last week.Little is known about the origin of the coins and the motive behind them coming back to life. The movements were noted by Philip Swift, creator of on-chain analytics resource LookIntoBitcoin.“We saw the movement of some VERY old coins last week. Coins that had not moved onchain for +10 yrs,” he commented on social media on Sept. 27.BTC moves after 10 years+ dormancy chart (screenshot). Source: LookIntoBitcoin10-year inactive BTC hits record highAt the same time, separate data from on-chain analytics firm Glassnode has confirmed that more of the BTC supply has now been dormant for a decade or more than ever before.Related: Bitcoin gains 5% to reclaim $20K, eyes first ‘green’ September since 2016As of Sept. 27, a total of 2,521,378.890 BTC has stayed out of circulation for a minimum of 10 years — a new all-time high.BTC supply last active 10 years ago or more chart. Source: Glassnode/ TwitterCointelegraph has been closely monitoring the movements of old coins as the latest Bitcoin bear market takes hold. Late August, for example, was marked by 10,000 BTC suddenly moving on-chain, leaving its wallet for the first time since 2013. At the time, concerns even linked the stash to defunct exchange Mt. Gox, a theory later disregarded.According to LookIntoBitcoin, meanwhile, Bitcoin’s June lows saw a larger tranche for 10-year+ coins moving in a single day, with 477.80 BTC recorded on June 14.Bitcoin spent output lifespan of 10+ years chart. Source: GlassnodeThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Galaxy Digital to provide market data to blockchains with Chainlink News - 10 hours ago
    Galaxy announced that they will provide market data so that smart contract developers can build better blockchain applications. Despite the innovations brought about by blockchain technology, a blockchain by itself does not automatically come with market data. To fix this, the trading and asset management firm Galaxy Digital has collaborated with blockchain oracle provider Chainlink. In an announcement sent to Cointelegraph, Galaxy highlighted that the firm will provide its crypto pricing data to blockchains through Chainlink. The firm believes that with this data, smart contract developers will have the ability to build more advanced decentralized applications (DApps). Zane Glauber, the head of strategic opportunities at Galaxy, told Cointelegraph that they believe that the integration will have a positive effect on the blockchain ecosystem. He explained that: “Blockchains don’t come preloaded with external data, so we’re providing reference prices for spot digital assets that will be able to power a variety of complicated financial structures that only have traditionally been the domain of our existing financial system.”According to Glauber, market data will be important to decentralized finance (DeFi) primitives and DApps because these products need reference prices that can be embedded within smart contracts. “The growth of these future products should help secure the growing total value locked on DeFi apps, supporting the future development of the ecosystem,” he said. Yaser Jazouane, an executive at Chainlink, also commented on Galaxy’s move. Jazouane said that high-quality pricing data is a key that unlocks various use cases all across DeFi. “High-quality market data underpins the DeFi economy,” he said. Related: Nasdaq reportedly preparing crypto custody services for institutionsWhile DeFi still looks to have a lot of potential for development, the space is still hounded by hacks and exploits. Just recently, a vulnerability in the vanity wallet address generator Profanity was exploited by hackers. Because of this, several wallets lost around 3.3 million worth of crypto assets. More than a week later, another wallet address was attacked, resulting in a hacker stealing almost $1 million in Ether (ETH).
  • Bitcoin gains 5% to reclaim $20K, eyes first 'green' September since 2016 News - 12 hours ago
    A classic snap of sideways trading action sees the Bitcoin price aim higher, but concerns remain over what happens next. Bitcoin (BTC) delivered long-anticipated volatility on Sept. 27 as a squeeze higher resulted in a push beyond $20,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price 9-day highs greet tradersData from Cointelegraph Markets Pro and TradingView followed BTC/USD as it added over 7% after the Sept. 26 close.Local highs of $20,344 appeared on Bitstamp before the pair began consolidating at around $20,200.The move naturally did not go unnoticed by in trading circles, but opinions differed over the outcome, amid warnings that the whole episode may end up trapping overoptimistic traders taking late long positions.“No [rejection] yet, but soon. Expecting higher for now,” popular Twitter account Il Capo of Crypto summarized, sticking by a theory that demanded new lower lows than the sub-$19,000 levels seen over the past week.Research firm Santiment, meanwhile, noted mass profit-taking beginning as Bitcoin recrossed the $20,000 boundary for the first time in over a week.“Many traders were apparently awaiting the $20k threshold to begin selling their bags,” it revealed alongside a chart of transactions made at a profit or loss to their owner. “As Bitcoin crossed back above this psychological level, mass profit taking ensued. Now we find out whether those anxious to sell will regret their decisions.”Bitcoin transactions in profit/ loss annotated chart. Source: Santiment/ TwitterCan bulls beat “Septembear?”In a sign of how even modest price moves can impact market sentiment, meanwhile, the return to $20,000 set up BTC/USD to finish September higher than at the start.Related: ‘The bond market bubble has burst’ — 5 things to know in Bitcoin this weekAs noted by on-chain analytics resource Material Indicators, all now rested on the bulls’ ability to defend BTC price action into the monthly close.“BTC now in position for a green Monthly close…if it can hold through Friday. Taking profits along the way,” it confirmed in a tweet.While modest, Bitcoin’s September gains totaled 0.7% at the time of writing, with BTC/USD at $20,200. If the month ends up “green,” it would be the first non-loss-making September since 2016, data from Coinglass shows.Just a day previously, Bitcoin was looking at monthly losses of 6% or more.BTC/USD monthly returns chart (screenshot). Source: CoinglassThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.
  • Russia aims to use CBDC for international settlements with China: Report News - 12 hours ago
    Russia is currently in the pilot phase of its CBDC development and is expected to complete the development by early next year. Russia is in the pilot phase of its central bank digital currency development (CBDC), and new reports indicate that the country could use its national digital currency to settle international trade.According to a report published in Reuters, Russia is reportedly planning to use the digital rouble for mutual settlements with China by next year. The digital rouble is currently being tested for settling with the banks and is expected to be completed by early next year.The United States Treasury Department added 22 individuals and two Russia-based entities to the sanction list in the third week of September. With the growing sanctions against Russia from the West in the wake of the ongoing conflict with Ukraine, the country has been actively looking for alternate financial routes and trade settlements. Anatoly Aksakov, head of the finance committee in Russia’s lower house of parliament, recently admitted that the geo-political crisis has limited Russia’s accessibility to the international trade market. This is why they have been actively working for alternate modes of payment and trade settlements, and national digital currency seems to be the primary choice at the moment. He said:“The topic of digital financial assets, the digital rouble and cryptocurrencies are currently intensifying in society, as Western countries are imposing sanctions and creating problems for bank transfers, including in international settlements.” Russia has joined the growing list of countries that are in the final phase of their CBDC development. According to the Bank of Russia’s latest monetary policy update, the authority will begin to connect all banks and credit institutions to the digital rouble platform in 2024.The reports of the use of the digital rouble for mutual trade settlements in the international trade market come within a week of reports that hinted at possible crypto use for cross-border payments.Related: Crypto offers Russia no way out from Western sanctionsRussia adopted a crypto law in 2020, prohibiting the use of cryptocurrencies as a form of payment. However, the law didn’t ban other crypto-focused activities such as mining and crypto trading. With the rise of sanctions and growing uncertainty in the international trade market, Russia has turned to its national digital currency as a medium of exchange to weaken United States dominance in the international trade market.
  • Nuclear and gas fastest growing energy sources for Bitcoin mining: Data News - 14 hours ago
    Some governments can negatively impact Bitcoin’s environmental footprint by banning BTC mining, according to new data from Cambridge. The electricity mix of Bitcoin (BTC) has drastically changed over the past few years, with nuclear energy and natural gas becoming the fastest growing energy sources powering Bitcoin mining, according to new data.The Cambridge Centre for Alternative Finance (CCAF) on Tuesday released a major update to its Bitcoin mining-dedicated data source, the Cambridge Bitcoin Electricity Consumption Index (CBECI).According to the data from Cambridge, fossil fuels like coal and natural gas made up almost two-thirds of Bitcoin’s total electricity mix as of January 2022, accounting for more than 62%. As such, the share of sustainable energy sources in the BTC energy mix amounted to 38%.The new study suggests that coal alone accounted for nearly 37% of Bitcoin’s total electricity consumption as of early 2022, becoming the largest single energy source for BTC mining. Among sustainable energy sources, hydropower was found to be the largest resource, with a share of roughly 15%.Despite Bitcoin mining relying significantly on coal and hydropower, the shares of these energy sources in the total BTC energy mix have been dropping over the past several years. In 2020, coal power powered 40% of global BTC mining. Hydropower’s share has more than halved from 2020 to 2021, tumbling from 34% to 15%.Bitcoin mining electricity mix from 2019 to 2022. Source: CCAFIn contrast, the role of natural gas and nuclear energy in Bitcoin mining has been growing notably over the past two years. The share of gas in the BTC electricity mix surged from about 13% in 2020 to 23% in 2021, while the percentage of nuclear energy increased from 4% in 2021 to nearly 9% in 2022.According to Cambridge analysts, Chinese miner relocations were a major reason behind sharp fluctuations in Bitcoin’s energy mix in 2020 and 2021. China’s crackdown on crypto in 2021 and the associated miner migration resulted in a major drop in the share of hydroelectric power in the BTC energy mix. As previously reported, Chinese authorities shut down a number of crypto mining farms powered by hydroelectricity in 2021.“The Chinese government’s ban on cryptocurrency mining and the resulting shift in Bitcoin mining activity to other countries negatively impacted Bitcoin’s environmental footprint,” the study suggested.The analysts also emphasized that the BTC electricity mix varies hugely, depending on the region. Countries like Kazakhstan still rely heavily on fossil fuels, while in countries like Sweden, the share of sustainable energy sources in electricity generation is about 98%.The surge of nuclear and gas energy in Bitcoin’s electricity mix allegedly reflects the “shift of mining power towards the United States,” the analysts stated. According to the U.S. Energy Information Administration, most of the nation’s electricity was generated by natural gas, which accounted for more than 38% of the country’s total electricity production. Coal and nuclear energy accounted for 22% and 19%, respectively.Among other insights related to the latest CBECI update, the study also found that greenhouse gas (GHG) emissions associated with BTC mining accounted for 48 million metric tons of carbon dioxide equivalent (MtCO2e) as of Sept. 21, 2022. That is 14% lower than the estimated GHG emissions in 2021. According to the study’s estimates, the current GHG emissions levels related to Bitcoin represent roughly 0.1% of global GHG emissions.Combining all the previously mentioned findings, the index estimates that by mid-September, about 199.6 MtCO2e can be attributed to the Bitcoin network since its inception. The analysts stressed that about 92% of all emissions have occurred since 2018.Total greenhouse emissions related to Bitcoin as of mid-September 2022. Source: CCAFAs previously reported, the CCAF has been working on CBECI as part of its multi-year research initiative known as the Cambridge Digital Assets Programme (CDAP). The CDAP’s institutional collaborators include financial institutions like British International Investment, the Dubai International Finance Centre, Accenture, EY, Fidelity, Mastercard, Visa and others.Related: Bitcoin could become a zero-emission network: ReportThe new CDAP findings differ noticeably from data by the Bitcoin Mining Council (BMC), which in July estimated the share of sustainable sources in Bitcoin’s electricity mix at nearly 60%.“It doesn’t include nuclear or fossil fuels so from that you can imply that around 30%–40% of the industry is powered by fossil fuels,” Bitfarms chief mining officer Ben Gagnon told Cointelegraph in August.According to CBECI project lead Alexander Neumueller, the CDAP’s approach is different from the Bitcoin Mining Council when it comes to estimating Bitcoin’s electricity mix.“We use information from our mining map to see where Bitcoin miners are located, and then examine the country, state, or province’s electricity mix. As I understand it, the Bitcoin Mining Council asks its members to self-report this data in a survey,” Neumueller stated. He still mentioned that there are still a few nuances related to lack of data in the study.
  • Almost everything could be tokenized in 5-10 years — Matrixport co-founder News - 14 hours ago
    Cost efficiencies, improved liquidity, 24/7 market access and the removal of intermediaries were the main advantages cited that blockchain infrastructure has over current legacy systems. In five to ten years, almost every “real world” asset class could be tokenized in the form of a nonfungible token (NFT) according to Cynthia Wu, co-founder of digital asset service platform Matrixport. Speaking to Cointelegraph, Wu said the best case for NFTs would see the widespread representation of real-world assets to be stored and traded on-chain:“Eventually, all the major financial asset classes are going to be represented on this new financial infrastructure [and] NFTs could be our instrument to represent off-chain assets like real estate deeds, equities or bonds.”The move on-chain would make these real-world assets “more liquid and more tradable,” which would improve price discovery and transaction activity, Wu added.But Wu said that while it’s great that we’ve created over two trillion worth of digital native assets on-chain from Bitcoin (BTC), Ether (ETH) and other tokens, the only niche to have generated NFT transaction activity has come from digital collectibles — which hasn’t really helped institutional adoption:“We haven’t really been seeing off-chain assets being represented on-chain […] we’re now really only at the first 3-5% of it.”But, nonetheless, Wu is confident that the tide will turn.Earlier this month, a report from Boston Consulting Group (BCG) estimated that the total size of tokenized illiquid assets could reach $16.1 trillion by 2030.BCG predicted much of this tokenization to come from pre-initial public offering (IPO) stocks, real estate, private debt, and revenue generated from small to medium-sized businesses.However, while the tokenization of real-world assets has piqued the interest of financial institutions, Wu said some have been a bit reluctant to move on from the legacy systems that have served them well over the years.Related: Asset tokenization: A beginner’s guide to converting real assets into digital assetsWu pointed out the traditional financial system hasn’t accounted for the trading of nonfungible assets because they can’t easily be exchanged the same way a fungible or divisible asset can, but tokenization on the blockchain provides a solution for that. She also argued that blockchain infrastructure is the superior option to legacy systems, citing cost efficiencies, improved liquidity, 24/7 market access and the removal of intermediaries as the main factors that would lead to a more streamlined financial system.Matrixport co-founder Cynthia Wu.Matrixport was established in Feb. 2019, and currently manages between $3-4 billion in digital assets from a broad mix of retail and institutional clients.
  • Yat Siu: Asia GameFi opportunity huge as gamers don’t hate NFTs News - 15 hours ago
    The Animoca Brands co-founder suggested that Asian gaming companies don’t have to deal with the same amount of pushback against NFTs that U.S companies have faced. Animoca Brands co-founder Yat Siu thinks that GameFi has the biggest opportunity for growth in Asia, as gamers there don’t hold the same vitriol toward nonfungible tokens (NFTs) as they do in the West. Sitting down with Cointelegraph during Asia Crypto Week, Siu argued that Asia generally has more of a welcoming culture toward gaming and advancements in tech such as NFTs, digital property and play-to-earn (P2E). “I think that Asia has the potential to really lead in blockchain gaming, at least in the short term. And there’s a couple of reasons why I think that’s the case. Not just because, you know, there’s the most gamers in this region of the world, but it’s also because gamers in Asia are welcoming NFTs.” “Gaming companies in the West have to deal with consumer resistance that gaming companies in Asia do not have to,” he added. The Animoca co-founder attributed this acceptance of NFTs to a broader Asian viewpoint on capitalism, which he suggested is viewed more favorably in the region — barring China — than in the United States, as people see it as a path out of poverty. He pointed to examples such as South Korea, which “only four decades ago” had the same size economy as North Korea, but has swiftly climbed the global rankings through innovation, “creativity, legal frameworks and property rights” despite lacking natural resources. “The consumer in Asia looks at capitalism as a net-good fight. In other words, okay, there is inequity. There’s a guy who made a lot of money, but people think ‘I can get there too, or I have an opportunity,’” he said. Drawing a contrast to the U.S., Siu highlighted that capitalism draws a more demonized view by some people there, and rightly so as many people haven’t seen capitalism “work for them.”He argued that this type of thinking ultimately bleeds into gamers pushing back on NFTs, as people worry about being priced out of the market with expensive NFTs that are seen as a “rich man’s tool:” “When the headline news isn’t a $5 or $10 in-game NFT item, but a $300,000 Bored Ape well, then, you know it’s a little bit like saying the entire car industry is just Lamborghinis. That’s not true either. But that’s what we see. And so the rejection in the West comes from that lens.”Expanding on the Asian context, Siu also emphasized that blockchain gaming is opening up access to venture capital from Silicon Valley that hasn’t really been tapped before, especially in the context of countries like the Philippines where P2E gaming guilds have become quite popular.Related: Gamers want fun, not a grind fest for tokens — Animoca subsidiaryHe again highlighted that this is due to a vibrant ecosystem that is growing in Asia as many gamers are adopting the tech while many projects are actively innovating in the space. “Now you have companies like a16z, not just ourselves investing but also Silicon Valley money moving into Vietnam and Philippines. I think that’s unheard of. So that’s kind of exciting as well. I do think Asia is pointing toward a Web3 blockchain gaming future. Broadly speaking,” he said.
  • Cyber sleuth alleges $160M Wintermute hack was an inside job News - 16 hours ago
    James Edwards bases his accusations on what he feels are dubious transactions and smart contract code that doesn’t match the post-mortem analysis. A fresh new crypto conspiracy theory is afoot — this time in relation to last week’s $160 million hack on algorithmic market maker Wintermute — which one crypto sleuth alleges was an “inside job.”Cointelegraph reported on Sept. 20 that a hacker had exploited a bug in a Wintermute smart contract, which enabled them to swipe over 70 different tokens including $61.4 million in USD Coin (USDC), $29.5 million in Tether (USDT) and 671 Wrapped Bitcoin (wBTC), worth roughly $13 million at the time.In an analysis of the hack posted via Medium on Monday, the author known as Librehash argued that due to the way in which Wintermute’s smart contracts were interacted with and ultimately exploited, it suggests that the hack was conducted by an internal party, claiming: “The relevant transactions initiated by the EOA [externally owned address] make it clear that the hacker was likely an internal member of the Wintermute team.”The author of the analysis piece, also known as James Edwards, is not a known cybersecurity researcher or analyst. The analysis marks his first post on Medium but so far hasn’t garnered any response from Wintermute or other cybersecurity analysts.In the post, Edwards suggests that the current theory is that the EOA “that made the call on the ‘compromised’ Wintermute smart contract was itself compromised via the team’s use of a faulty online vanity address generator tool.” “The idea is that by recovering the private key for that EOA, the attacker was able to make calls on the Wintermute smart contract, which supposedly had admin access,” he said. Edwards went on to assert that there’s no “uploaded, verified code for the Wintermute smart contract in question,” making it difficult for the public to confirm the current external hacker theory, while also raising transparency concerns. “This, in itself, is an issue in terms of transparency on behalf of the project. One would expect any smart contract responsible for the management of user/customer funds that’s been deployed onto a blockchain to be publicly verified to allow the general public an opportunity to examine and audit the unflattened Solidity code,” he wrote. Edwards then went into a deeper analysis via manually decompiling the smart contract code himself, and alleged that the code doesn’t match with what has been attributed to causing the hack. Related: Almost $1M in crypto stolen from vanity address exploitAnother point that he raises questions about was a specific transfer that happened during the hack, which “shows the transfer of 13.48M USDT from the Wintermute smart contract address to the 0x0248 smart contract (supposedly created and controlled by the Wintermute hacker).”Edwards highlighted Etherscan transaction history allegedly showing that Wintermute had transferred more than $13 million worth of USDT from two different exchanges, to address a compromised smart contract. “Why would the team send $13 million dollars worth of funds to a smart contract they *knew* was compromised? From TWO different exchanges?,” he questioned via Twitter. His theory has, however, yet to be corroborated by other blockchain security experts, although following the hack last week, there were some rumors in the community that an inside job could’ve been a possibility.The fact that @wintermute_t used the profanity wallet generator and kept millions in that hot wallet is negligence or an inside job. To make things worse the vulnerability in profanity tool was disclosed a couple of days ago.— Rotex Hawk (@Rotexhawk) September 21, 2022 Providing an update on the hack via Twitter on Sept. 21, Wintermute noted that while it was “very unfortunate and painful,” the rest of its business has not been impacted and that it will continue to service its partners. “The hack was isolated to our DeFi smart contract and did not affect any of Wintermute’s internal systems. No third party or Wintermute data was compromised.” The hack was isolated to our DeFi smart contract and did not affect any Wintermute’s internal systems. No third party or Wintermute data was compromised.— Wintermute (@wintermute_t) September 21, 2022 Cointelegraph has reached out to Wintermute for comment on the matter but has not received an immediate response at the time of publication. 
  • Nifty News: Walmart steps into the Metaverse, ‘@NFT’ founder hacked and more News - 16 hours ago
    AC Milan partners with Solana blockchain-based football game MonkeyLeague, while Pixelmon attempts a comeback after poor reception to its NFT collection in February. American retail giant Walmart has taken its first steps into the Metaverse with the launch of Walmart Land and Walmart’s Universe of Play on Roblox.According to the company’s Monday announcement, Walmart Land focuses on “immersive experiences,” with key features including a physics-defying Ferris wheel, unlockable tokens and badges, an interactive piano walkway and a D.J. booth for users.See Walmart like never before Walmart Land is our new world on #ROBLOX with fun & games for all. From film to fashion — whatever you’re into, let’s have some fun with it. Come for the inspo, stay for the verch & live performances.Let’s go!— Walmart (@Walmart) September 26, 2022 Products from Lottie London, Bubble, UOMA by Sharon C and other brands will also feature in the virtual world, along with a store of virtual merchandise, or “verch,” for user’s avatars. In October, Walmart Land will add a motion-capture concert called Electric Fest, featuring performances from music artists YUNGBLUD, Madison Beer and Kane Brown.Meanwhile, Walmart’s Universe of Play offers games with products and characters from Jurassic World, Paw Patrol, Magic Mixies and Razor Scooters, and the chance to explore toy worlds, earn coins and redeem them for virtual goods. The retail corporation first signaled intentions to enter the Metaverse after filing a patent with the United States Patent and Trademark Office on Dec. 30, covering its own “digital currency” and “digital token,” while a separate application covered a trademark for the Walmart brand in virtual reality and augmented reality. Founder of now-banned “@NFT” account gets hackedCo-founder of Leverage Game Media Jason Falovitch became the victim of a hack over the weekend with his account on nonfungible token (NFT) marketplace OpenSea cleaned out of a Mutant and Bored Ape and two Doodles.Falovitch has claimed the hack has cost him over $1 million in Ether (ETH) and NFTs. Falovitch is also the founder of the since-banned “@NFT” Instagram and Twitter handles, which have both been suspended after repeated violations of platform community guidelines, and comes after allegations it promoted NFT projects without proper disclosures. In a post to his more than 170,000 Twitter followers on Sunday, Falovitch, known as jfx on Twitter, said he was hacked the night before, urging the public not to buy any of the items or anything else from his wallets. I got hacked last night on @opensea. Apes, doodles, eth. It’s not pretty.Please do not buy any of these items or anything else from my wallets. Thanks— jf❌ (@jfx) September 25, 2022 Falovitch is known among the community as the founder of the “@NFT” account on Twitter and Instagram. He is also the co-founder of Leverage Game Media, a company he co-founded with American billionaire entrepreneur Mark Cuban which owns NFT assets and claims to help promote NFT projects through major sports social media pages.However, his prior involvement with the banned social media accounts has not escaped some of the grudge-holding community members, with some calling the recent hack “karma.”Karma for all of the people you rekt with the scams promoted on your Instagram page. Definitely won’t be tracking this one.— ZachXBT (@zachxbt) September 25, 2022 Pixelmon rises from the ashesAfter a less-than-stellar response to the launch of its NFT collection back in February, Pixelmon has come back with a new plan and fresh leadership under LiquidX, a Web3 venture capital studio.According to the company statement, LiquidX acquired a 60% stake in the project, and LiquidX co-founder Giulio Xiloyannis will serve as CEO of Pixelmon.It’s been 213 days since the creator of Pixelmon (Syberer) tweeted he will not go anywhere— OKHotshot (@NFTherder) September 26, 2022 Earlier this year, many early minters of the Pixelmon NFT collection were left disappointed after the project revealed the finalized art in February, which ended up being well below expectation. Under new leadership, however, the updated Pixelmon roadmap now turns the underwhelming monsters from the original NFT collection into 3D characters that can be used within the forthcoming Pixelmon massively multiplayer online role-playing game (MMORPG). Pixelmon was originally slated to launch a playable alpha of its MMORPG before the end of 2022, but now alpha testing for the game will begin in Q1 2023, with the game now set for release in late 2023.The new roadmap under LiquidX also includes the future launch of virtual land NFTs and separate utility and governance tokens to fuel Pixelmon’s economy.AC Milan partners with Solana-based MonkeyLeagueProfessional football club AC Milan (Rossoneri) has inked a new deal with MonkeyLeague, a Web3 football game built on the Solana blockchain — becoming yet another sporting brand to leverage the technology for fan engagement.The partnership will see the creation of exclusive AC Milan branded NFT game assets, including new players for the game, skins, in-game clothing and stadiums. Casper Stylsvig, chief revenue officer of AC Milan, said the club is “thrilled” and called the collaboration one “that allows us to strengthen our positioning in the field of digital innovation.”According to the MonkeyLeague website, the game is a Web3-based esports game that will allow users to build and manage a dream team of at least six MonkeyPlayer NFTs, compete against other players and climb the league ranks. AC Milan was founded back in 1899 and is currently the reigning champions of Serie A, Italy’s top league football division.Related: Disney seeks corporate lawyer for ‘emerging technologies’ and NFTsMore Nifty News:Reddit Avatar NFTs have seen erratic price performance over the past few months, with Reddit user u/Warfared posting an analysis tracking the exchange of NFTs on the trading platform OpenSea. The co-founder of NFTGo, Tony Ling, believes the mainstream presence in the NFT space isn’t a game changer, but innovation will be a key factor in adoption.
  • FTX US wins auction for Voyager Digital’s assets News - 17 hours ago
    Voyager hints that its customers will eventually transition to the FTX platform after it finishes its Chapter 11 bankruptcy proceedings. Cryptocurrency exchange FTX US has secured the winning bid for the assets of crypto brokerage firm Voyager Digital, to be approved by the United States Bankruptcy Court, with a bid valued at approximately $1.4 billion, according to Voyager.Voyager said the bid was made up of the fair market value of its crypto holdings “at a to-be-determined date in the future” estimated to be around $1.3 billion along with $111 million of what it says is “incremental value,” but did not provide further details.Little information was given regarding what will happen to Voyager customers still awaiting access to their crypto holdings, with Voyager stating additional information about crypto access “will be shared as it becomes available.”Today, after a competitive auction aimed at returning maximum value to customers, @FTX_Official US was selected as the highest and best bidder. Press release linked below. More information about what this agreement means for customers to follow.— Voyager (@investvoyager) September 27, 2022 Voyager only mentioned that the FTX US platform “will enable customers to trade and store cryptocurrency after the conclusion of the company’s chapter 11 cases.“Cointelegraph contacted FTX and Voyager Digital for further comment but did not immediately hear back.The sale of the assets is set to be completed after a chapter 11 plan, and an asset purchase agreement is submitted for approval by the U.S. Bankruptcy Court for the Southern District of New York on Oct. 19.Cointelegraph earlier reported that crypto platforms Binance and CrossTower also submitted bids alongside FTX to acquire Voyager’s assets, each proposing their own terms. A source claimed Voyager customers would receive their pro rata share of crypto assets and transition to the FTX platform if its bid was successful.Related: Sam Bankman-Fried denies report FTX plans to purchase stake in HuobiVoyager entered into a Chapter 11 bankruptcy on July 5, sometimes called a “reorganization” bankruptcy, it allows a firm to retain control of its assets and continue operating whilst it plans to restructure or sell the business.The filing was for an insolvency worth over $1 billion after crypto hedge fund Three Arrows Capital (3AC) defaulted on a $650 million loan from the firm, Voyager says its claims against 3AC remain with the bankruptcy estate.The company maintains its chapter 11 filing was “aimed at returning maximum value to customers” and also considered a reorganization, but stated the sale to FTX US was the “best alternative for Voyager stakeholders.”
  • New Cosmos white paper repurposes ATOM token and refines vision News - 18 hours ago
    The news comes a couple of weeks after research firm Delphi Labs announced it would shift the focus of its research and development efforts toward the Cosmos ecosystem. Interoperability-focused blockchain network Cosmos has dropped a new white paper proposing a revamped Cosmos Hub aimed at strengthening interoperability and security, along with key changes to its Cosmos (ATOM) token. The new Cosmos white paper was released on Monday at the Cosmoverse conference in Medellin, Colombia. The upgrades outlined in the white paper are still technically in “proposal” status, but changes are expected to be made on-chain on Oct. 3. Cosmos is an ecosystem of blockchains designed to scale and interoperate with each other. Cosmos Hub was the first blockchain to be built on Cosmos, which initially served as an intermediary between other interconnected blockchains.ATOM is used to transact within the Cosmos ecosystem, which can also be used for governance and staking purposes.Under the proposed changes, Cosmos will become a more interoperable, decentralized and secure ecosystem.One of the changes outlined is the reinvention of the Cosmos Hub as the “Interchain” web, which will enable other Cosmos blockchains to borrow the Hub’s validator pool to secure its network rather than having to find their own.Billy Rennekamp, the Cosmos Hub product lead, added that the value proposition behind this transition to Interchain Security would also make the Cosmos network “legally, defensibly decentralized.”According to the white paper, Interchain Security will also enable Cosmos Hub to “host a novel category of applications with complementary functionality,” stating:“Interchain Security gives consumer chains a faster, easier, and cheaper path to market [and] the development platform afforded by Interchain Security allows […] third parties to utilize the Hub’s essential infrastructure to build commercial applications.”The white paper also proposes a new issuance model for ATOM, with the aim to strike a better balance between ecosystem growth and interchain adoption “while still preserving the security afforded by the original regime,” according to the white paper.The new monetary policy will see two phases: “transition” and “steady state.”The transition phase will see 10,000,000 ATOM issued in the first month, which will then decrease at a declining rate until it reaches the steady state phase 36 months later.Cosmos co-founder Ethan Buchman said this new token issuance model would enable other Cosmos blockchains to become more interconnected with the Cosmos Hub and ATOM.Related: Most of the crypto market is down, but Cosmos (ATOM) price is up — Why?The white paper also outlined a plan to further accrue more value to the ATOM token by enabling leveraged liquid staking. This will allow ATOM holders to unstake ATOM as easily as they staked them, which will soon be enabled by the Cosmos “liquid staking module.”“The user experience and capital efficiency improvement offered by liquid stalking is so substantial” that it required “full economic integration” into the new Cosmos interchain-oriented ecosystem, according to the white paper.Intern notes on Cosmos’ new 27 page whitepaper TL;DR – Secure economic scaling ⛓- $ATOM as reserve currency – New economic engine Definitely worth a read! (1/2)— (Delphi, Intern) (@delphiintern) September 26, 2022 The release of the white paper comes a few weeks after research and investment firm Delphi Labs announced a shift of its R&D efforts to focus on the Cosmos ecosystem.The research firm outlined network speed, chain liquidity, sufficient decentralization and cross-chain interoperability as the key factors behind its decision to provide R&D efforts to help further the growth of Cosmos.
  • Bored Apes, Moonbirds to feature on NFT-customized Mastercard debit cards News - 19 hours ago
    The customizable card will only support NFT avatars from select blue chip collections, subject to Mastercard’s design standards and an owner verification process. Mastercard has launched customizable nonfungible token (NFT) debit cards, allowing some cardholders who own avatars from select NFT collections to add the artwork onto the payment card.The debit cards are made available through a Monday partnership with the European cryptocurrency exchange platform hi, allowing its Gold members to personalize their debit cards with an NFT they verifiably own.Gold membership with the platform is obtained by staking a minimum of 100,000 hi Dollar’s (HI), the platform’s native token, a sum worth around $4,600, according to data from CoinGecko. NEWS! Today @hi_com_official launches the world’s first debit card featuring NFT Customization, allowing cardholders to personalize the face of their card with an NFT Avatar. Read more here— Mastercard Europe (@MastercardEU) September 26, 2022 The cards will allow spending in fiat, stablecoins or any cryptocurrency the user holds and is accepted wherever Mastercard is available. Other features such as hotel credits, cash back incentives and rebates on Netflix and Spotify subscriptions are also touted as benefits of certain membership levels.Mastercard’s crypto and fintech enablement vice president, Christian Rau, said with consumer interest in NFTs and crypto growing the payments provider was “committed to making them an accessible payments choice for the communities who wish to use them.”A limited range of NFT collections will be supported including CryptoPunk, Moonbirds, goblintown, Bored Ape and Azuki, owners of these NFTs will have to become Gold members with hi and verify their NFT ownership with the platform to receive their custom cards.Additionally, the cards are available only within 25 European Economic Area (EEA) countries and the United Kingdom.Related: Innovation will drive NFT adoption despite mainstream presence: NFTGo founderWith the wider downturn in crypto markets over the last few months, most of the “blue chip” NFT collections took a price hit, but data by NFTGo shows the performance of blue-chip NFTs growing steadily since Sept. 12 possibly bringing renewed interest to the largest collections.Mastercard has helped crypto payments go mainstream with its support for the assets, even allowing Mastercard holders the ability to purchase NFTs through partnering with multiple NFT marketplaces in June.
  • Cardano (ADA) Fails To Claim Bull Run, Yet Community Holds On, Here Is Why
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    The post Cardano (ADA) Fails To Claim Bull Run, Yet Community Holds On, Here Is Why appeared first on Coinpedia Fintech News On September 22, Cardano, a smart contract platform, experienced its much awaited Vasil hardfork which aims to boost up the network’s performance and capability. Just before the launch of the Vasil hardfork there were speculations that it will turn out to be one like Ethereum merge where ETH dropped after the Merge. However, Cardano’s native …
  • Bitcoin Price Prediction For October 2022 – These Are the Levels to Watch!
    Coinpedia Fintech News - 3 hours ago
    The post Bitcoin Price Prediction For October 2022 – These Are the Levels to Watch! appeared first on Coinpedia Fintech News While we are almost at the end of 2022 with only three months left, it can be said that the year has been excruciating, and most of the cryptocurrencies have crashed and witnessed new lows.  Bitcoin has been one of the most hard-hit currencies and a few other large-cap currencies. The flagship currency reached an …
  • Ethereum To Overtop Bitcoin Soon, Claims Analyst While Updating Targets For XRP & Other Altcoins
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    The post Ethereum To Overtop Bitcoin Soon, Claims Analyst While Updating Targets For XRP & Other Altcoins appeared first on Coinpedia Fintech News It appears as if the bulls have finally been successful in overtaking the bears as the overall crypto market is flashing green. The world’s first cryptocurrency, Bitcoin has reclaimed the $20,000 level, leading the crypto market for a surge to the top.  At the time of reporting, Bitcoin is selling at $20,212 after a surge …
  • Polkadot Price Attempts a Recovery, But Fails to Clear the Crucial Zones! What’s Next?
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  • Do-Kwon in Serious Trouble, May Lose Over 3000 Bitcoin Worth Over $66M
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  • Analyst Maps Important Levels for Bitcoin (BTC) Price That Might Be a Good Entry for Positions
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  • Huobi Token (HT), Bitcoin Cash (BCH) Post Mixed Results; (CRNO) Progresses For 5000% Growth
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  • Could Blockchain Technology Become a Staple in the iGaming Industry?
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  • Fed Chair Jerome Powell Details Views on Crypto, Stablecoins, DeFi and CBDCs, Says He Favors Responsible Innovation
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  • XRP Lawsuit ‘Gross Overreach’ of SEC Amid Failure To Provide Regulatory Clarity: Ripple CEO Brad Garlinghouse
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  • Cosmos Community Publishes New Whitepaper for Highly-Anticipated Upgrade That Revamps ATOM
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  • Space and Time Secures $20 Million Strategic Funding Led by Microsoft’s M12 To Automate the World’s Business Logic
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    September 27, 2022 – New York City, United States Space and Time, a Web 3.0-native data platform that empowers the trustless automation of business logic through patent-pending proof of SQL cryptography, has secured $20 million in strategic funding from marquee investors led by Microsoft’s M12 fund. Other investors participating in the funding round include Framework […] The post Space and Time Secures $20 Million Strategic Funding Led by Microsoft’s M12 To Automate the World’s Business Logic appeared first on The Daily Hodl.
  • Robot Known for Outperforming Bitcoin and Crypto Markets Flocks to Ethereum and Five Additional Altcoins As Markets Pop
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  • Prosecutors Say Embattled Terra (LUNA) Founder Do Kwon Now on Interpol Red Notice: Report
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  • Multiple State Financial Regulators Allege Crypto Loan Platform Nexo Violates Securities Laws
    The Daily Hodl - 2 hours ago
    Cryptocurrency lender Nexo is facing regulatory actions in eight US states for allegedly offering an investment product that violates securities laws. State regulators in California, New York, Washington, Kentucky, Vermont, South Carolina, Maryland and Oklahoma are issuing statements centered on Nexo’s Earn Interest Product (EIP). The office of South Carolina Attorney General Alan Wilson says […] The post Multiple State Financial Regulators Allege Crypto Loan Platform Nexo Violates Securities Laws appeared first on The Daily Hodl.
  • Five Crypto Assets Surge 10% or More As Bitcoin Analyst Urges Traders To Keep Their Pants On
    The Daily Hodl - 3 hours ago
    A widely-followed Bitcoin (BTC) analyst is warning traders to remain calm as a significant number of altcoins begin to rise. Jason Pizzino tells his 276,000 YouTube subscribers it would be wise to hold on to their shorts and avoid FOMO. “[Let’s] try and keep our pants on right now. Don’t start getting all premature on […] The post Five Crypto Assets Surge 10% or More As Bitcoin Analyst Urges Traders To Keep Their Pants On appeared first on The Daily Hodl.
  • Tech Giant Apple Authorizes NFT Purchases in Apps, Imposing Hefty Fees on Sales: Report
    The Daily Hodl - 4 hours ago
    Tech titan Apple is reportedly allowing purchases of non-fungible tokens (NFTs) in its App Store marketplace. A report from the tech outlet The Information says Apple is requiring NFT sellers on its mobile marketplace to use the App Store’s in-app payment functionality, which charges a 30% commission. That’s significantly higher than the standard commission on the […] The post Tech Giant Apple Authorizes NFT Purchases in Apps, Imposing Hefty Fees on Sales: Report appeared first on The Daily Hodl.
  • Founder Tobias Graf Reveals the Rationale Behind Okse’s Crypto Visa Card
    The Daily Hodl - 4 hours ago
    September 27, 2022 – Dubai, United Arab Emirates Okse CEO Tobias Graf has revealed more information about the company’s crypto Visa card. The Okse founder has shared his vision of a decentralized future in which crypto and fiat interchange seamlessly. Graf founded Okse with the mandate of making financial freedom a reality for millions. His […] The post Founder Tobias Graf Reveals the Rationale Behind Okse’s Crypto Visa Card appeared first on The Daily Hodl.
  • Bitcoin & The Hunt For A Green October | BTCUSD September 27, 2022
    NewsBTC - 10 minutes ago
    In this episode of NewsBTC’s daily technical analysis videos, we examine the reason for today’s volatility and rally rejection. We also look ahead at the factors that could give Bitcoin price a green October. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 27, 2022 This morning, Bitcoin began with a large, more than 5% move to the upside, taking the top cryptocurrency to back over $20,000. Before bulls could at all breath a sigh of relief, bears swatted the rally back down a full thousand plus dollars to just under $19,000. Related Reading: Bitcoin Shows Resilience In Dollar-Driven Bloodbath | BTCUSD September 26, 2022 Bears And Bulls Battle Over Control Of Momentum The strong showing by both bears and bulls makes sense, given the potential for a bullish crossover in daily momentum on the LMACD. Crossovers in the past have been used as bait to liquidate over-eager traders and it has happened once again. The severity of the showdown is due to the same situation happening across several timeframes. The 3-Day LMACD also shows momentum teetering between bear and bull along the zero line. BTC compared to other asset classes | Source: BTCUSD on Today’s Rejection Resembles Crypto Winter Bottom On weekly timeframes, there is also such a potential bullish crossover on the LMACD. Bears have repeatedly defended this signal. Before the rejection today, Bitcoin was back in the green and beyond the zero-line. Interestingly, the current weekly candle also closely resembles the corresponding candle…
  • Strong Rally For Bitcoin And Crypto As Wall Street Melts Down
    NewsBTC - 1 hour ago
    There’s a correlation between macroeconomic factors and crypto assets like Bitcoin. Harsh and stricter factors increase the volatility of virtual tokens negatively. This is also the case for equity stocks and their markets. The past week brought a downtrend to the primary cryptocurrency. Bitcoin was seen going toward the $19,000 region without any anchor. The south movement by the entire crypto market became more drastic as the US Federal Reserve released its new rate increase. Also, the equity market was not left out of the trend. Related Reading: LUNC Price Increases as Binance Decides To Burn Trading Fees Different Trends For Crypto And Equity Markets But this new week brings a difference in the trend between the crypto and equity markets. Wall Street initiated a corrective mode for most of the stocks. There was a sudden meltdown for the 3 top US indices as they displayed a 1% correction on Monday, September 26. Equity stocks and commodities plummeted by over 10%, but the MVIS CryptoCompare Digital Assets 100 index dipped by 1% within the last month. Bitcoin and other cryptocurrencies defied the price drop in the equity market from the beginning of the week. Instead, prices in the crypto market have followed a bullish trend despite all odds. This created a huge surprise within and outside the space as the correlation link with Wall Street failed. The price of BTC surged across the $20,000 level. This was after the struggle over the past week as BTC hit $19K. Some analysts…
  • Bitcoin Price Crashes To $19,000, But Stays Strong Against Other Assets
    NewsBTC - 2 hours ago
    The Bitcoin price has experience volatility over today’s trading session as the cryptocurrency rallied to the $20,000 level. Across social media platforms, some market participants celebrated the bullish price action, but they went silent as BTC stumbled back into its range. Related Reading: Bitcoin 90-Day CDD Hits All-Time Low, What Does It Say About Market? At the time of writing, the Bitcoin price trades at $18,900 with a 1% and 3% loss over the last 24 hours and 7 days, respectively. The benchmark cryptocurrency has been moving sideways trading in a range between its current levels and $19,500. Bitcoin Price Stuck In A Range As Global Currencies Trend Downwards Despite this sideways price action and a persistent downside trend across 2022, the Bitcoin price has outperformed other assets in the legacy financial sector. According to a report from the New York Times, the cryptocurrency has been trading “slightly” in the green while major currencies and indexes record losses. As the Bitcoin price moves back and forth from $20,000, the Nasdaq 100 records a 10% loss in September. Over the past 30 days, the British Pound from the United Kingdom (GBP), the Euro from the European Union (EUR), the Japanese Yen (JPY), and other global currencies have been traded in the red as BTC moves sideways. In the past year, these currencies record an 18% to 23% loss against the U.S. dollar. The GBP is one of the worst performers over the past few days as the currency approaches parity with…
  • Do Kwon Statement: A Possible Trigger For Terra Tokens Price Surge
    NewsBTC - 2 hours ago
    The collapse of the algorithmic stablecoin Terra and its ecosystem in May 2022 created a massive crisis in the crypto space. Coupled with the extreme crypto winter, the industry witnessed massive losses. As a result, billions of dollars were lost, and many investors lost faith in crypto. Gradually, the space is experiencing a revival as several crypto assets and firms are picking up their shackles. The rebuilding and consolidation of value are slowly creating hope for some participants. In addition, the emergence of some events and activities in the industry could bring cryptocurrency a more robust atmosphere. Related Reading: Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin Terra had staged its comeback with the launch of Terra Classic (LUNC) and the recent rollout of Terra (LUNA). However, the LUNA ecosystem is still swinging under the balance as more allegations are piled on Do Kwon, the co-founder of Terraform Labs. Kwon was accused of being on the run since the fall of the LUNA ecosystem. Kwon Reacts To The Allegations Of Hiding However, the Terra chief took to Twitter recently to clarify the allegation of his hiding from the authorities. He said he had not made any effort to hide anywhere, explaining that he had been in public places like malls and on walks in the past weeks but didn’t run into anyone. Recall that the International Criminal Police Organization (Interpol) issued a Red Notice officially against Do Kwon. This report caused the previous collapsed prices of Terra…
  • Bitcoin 90-Day CDD Hits All-Time Low, What Does It Say About Market?
    NewsBTC - 2 hours ago
    Data shows the Bitcoin 90-day Coin Days Destroyed metric has hit an all-time low, here’s what it says about investors in the BTC market. Bitcoin 90-Day CDD Has Recently Plunged To A New All-Time Low As per the latest weekly report from Glassnode, old BTC supply is more dormant right now than it has ever been during the history of the crypto. A “coin day” is defined as the amount accumulated by 1 BTC after sitting still for 1 day. The total coin days on the network, therefore, is a measure of how many days all the coins on the network combined have been stationary for, or more simply, how dormant the Bitcoin circulating supply has been. When any of these coins with some accumulated coin days make some movement, their coin days naturally reset back to zero, and are said to have been “destroyed.” Related Reading: Bitcoin Active Addresses Stay Low, A Hint That Demand Isn’t There Yet The “Coin Days Destroyed” (CDD) indicator measures how many coin days are being destroyed in this way every day across the entire BTC network. Now, here is a chart that shows the trend in the Bitcoin CDD over the history of the crypto: The value of the metric seems to have gone down in recent days | Source: Glassnode’s The Week Onchain – Week 39, 2022 As you can see in the above graph, the version of the Bitcoin CDD shown is actually the 90-day one, which measures the total amount…
  • Ethereum Name Service (ENS) Looks Strong, Eyes $16 Reclaim
    NewsBTC - 2 hours ago
    ENS price ranges break above 50 EMA on the daily timeframe.  ENS price gets rejected as price attempts to break out of an asymmetric triangle. The price holds above daily support and could retest daily resistance for a possible break.  Ethereum Names Service (ENS) price showed bullish strength recently, but the price has struggled to break above key resistance against tether (USDT). With Ethereum Name Service (ENS) facing resistance to breaking above $16, acting as a tough resistance area, the price of ENS continues to trade above daily support as the price aims to break key resistance. (Data from Binance) Related Reading: Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin Ethereum Name Service (ENS) Price Analysis On The Weekly Chart  After bouncing from its weekly low of $9 as a price rally to a high of $17 before facing a stip rejection, the price of ENS has recently declined, and the price has continued to struggle to rejuvenate its bullish trend. The price of ENS remains above a critical support level of $14, acting as a good demand zone for buy orders. For ENS to have a chance to trend higher, the price must break through its weekly resistance of $16. To restore a relief bounce, the price of ENS must break and hold above the $16-$17 resistance level that is preventing the price of ENS from trending higher. If the price of ENS continues to reject $16, we may see a retest of $14 and possibly…
  • 5 Tips for First-Time Cryptocurrency Entrepreneurs
    NewsBTC - 3 hours ago
    Despite the bear dominance, global cryptocurrency adoption remains on the rise. This growth fuels the influx of new entrepreneurs coming to the crypto industry and looking for opportunities to launch their own innovative product. We asked those who already succeeded in the cryptocurrency-related businesses what newbies in the crypto market should keep in mind when starting their entrepreneurial path in this fast-evolving world. Love on your product and focus your efforts In technology, IT, and crypto, as in any other business, it’s essential to love what you do because it’s the only possibility to go all the way. Remember that the concept of digital money was created dozens of years before Bitcoin’s birth. However, only Bitcoin achieved public attention and adoption. “What matters is to create a product you would use yourself and be proud to recommend it to your friends without hesitation. You have to believe in yourself — don’t be afraid or to pay attention to haters, the environment, the weather, or any other turmoil,” Co-founder of TTM Group Vladislav Utushkin believes. He recalls the history of Ethereum creation when everyone in the crypto entourage said it was complicated, even impossible to implement, and that the project would not take off. Today, Ether is the world’s second most important and capitalized cryptocurrency. “Use a step-by-step strategy on your personal path, go forward in small steps, and in the end, you will surely reach your goal. It’s imperative to set a goal, most people usually have a problem with…
  • Investors Cash Out $5M From 7-Week Bull Run On Short Bitcoin
    NewsBTC - 4 hours ago
    Short bitcoin has been at the forefront of investors’ attention over the last few months. Since it launched, it has garnered an impressive asset allocation and has not eased up. This is not surprising as the market had begun another bear run. However, last week, investors began to move the other way when it comes to short bitcoin. Inflows have now turned to outflows.  Bitcoin Investors Begin Profit-Taking The CoinShares Digital Asset Fund Flows weekly report shows that investors have turned towards outflows for short bitcoin. For the past 7 weeks, short bitcoin had been enjoying consecutive inflows as the price of the digital asset had nosedived. Now, it seems that these investors have begun to enjoy the spoils as they begin taking money out. Related Reading: Staked ETH Nears 14 Million As Ethereum Readies For Breakout For the first time in more than two months, short bitcoin outflows came out to a total of $5.1 million. Interestingly, the total asset under management (AuM) for the short BTC remains high at $172 million, a new record high for the digital asset. So even though investors have been pulling out money, it only shows that there is profit-taking going on and not necessarily a shift in sentiment toward the investment vehicle. BTC recovers above $20,000 | Source: BTCUSD on On the flip side, long bitcoin only saw minor inflows. This is also in line with the increased interest in short BTC. With inflows totaling $0.1 million for the 7-day period,…
  • Geeq granted a US patent for the protocol’s security and scalability features
    NewsBTC - 8 hours ago
    Geeq, a Canada-based blockchain company, has been granted a patent in the United States for features of its multi-blockchain, layer-zero protocol’s security and scalability systems, according to a press release. Details found in the patent’s application describe a technology termed “Proof of Honesty,” which is Geeq’s alternative to predominant proof-of-work and proof-of-stake consensus mechanisms. Additionally, Geeq alleges that its system of federated blockchains is able to ensure security and achieve “infinite scalability.” According to the patent application: “If there is at least one honest node, it will write an honest block to a valid chain. Users are able to discover honest chains and will always choose it for their transactions. Dishonest chains become orphaned.” Geeq also claims that having flexibility built into the protocol, which can create additional chains during periods of increased network activity and then merge chains when transaction volume decreases, keeps the cost of transactions more affordable as well as 99% Byzantine fault-tolerant. In the press release, Geeq CEO Ric Asselstine noted that gaining the approval of the patent “marks a critical point in time for Geeq as we push forward aggressively with the development of transformative solutions for previously intractable problems.” One of these “previously intractable problems” is the poor user experience when using blockchain technology due to the complexities of interacting with smart contracts. Geeq noted in the press release that instead of having users interact directly with smart contracts, a suite of applications that facilitate the most common types of transactions makes it so…
  • LUNC Price Increases as Binance Decides To Burn Trading Fees
    NewsBTC - 8 hours ago
    In response to proposals from the LUNC community, Binance has decided to burn all fees on LUNC spot and margin trading pairs. Binance said it would send the trading fees and margin trading pairs to LUNC burn addresses. The announcement was made via a blog post on Binance’s official website. The Terra Classic community expressed dissatisfaction with an ‘opt-in button proposed by Binance CEO. Binance offered the opt-in button to allow users to choose whether to implement a 1.2% tax burn on their spot. Related Reading: ETH Struggles To Break Past $1,300 Resistance – Back To $1K? After careful evaluation and consideration, Binance decided to take cognizance of the community’s dissatisfaction and set a new proposal. However, during their assessments, Binance also discovered that implementing an opt-in proposal would take time, and traders may not support it. Therefore, proposed a better and faster way of assisting the Terra Classic community. Details Of Binance’s New Burn Mechanism On Tera Classic Spot According to Binance, it would update the amount of LUNC to be burned, its USDT equivalent, and on-chain transaction ID weekly. In addition, the blog announcement outlined rules that would guide the burn mechanism. Binance would calculate the total trading fees on LUNC spot and margin trading pairs to be burned from the previous week every Monday at 00:00:00 UTC. Successive on-chain burn transactions and reports would get updated on Tuesdays at 00:00:00 UTC. The first batch of burning trading fees would be calculated from September 21 at 00:00:00 UTC…
  • Russian Exchanges Ready to Launch International Crypto Payments, Lawmaker Reveals
    Bitcoin News - 39 minutes ago
    The largest exchanges in Russia are ready to begin operating with cryptocurrencies right after authorities legalize cross-border settlements in crypto, according to a leading member of the Russian parliament. The stock and commodity trading platforms in Moscow and St. Petersburg are working to develop this market, the high-ranking official added. Russia’s Top Exchanges Waiting for […]
  • Robinhood Debuts Web3 Crypto Wallet to 10K Customers — Beta Version Supports Polygon
    Bitcoin News - 2 hours ago
    The American financial services company headquartered in Menlo Park, California, Robinhood Markets, Inc., announced the launch of a new non-custodial Web3 crypto wallet on Tuesday and said the product supports the Polygon blockchain network. The application is currently for iOS users only and Robinhood is rolling out the beta version of the Web3 wallet to […]
  • Posh Markets Inc․ to Launch the Presale of PoshCoin, the Newest Cannabis Crypto Coin
    Bitcoin News - 4 hours ago
    PRESS RELEASE. New York, 09/27/22: US-based Posh Markets Inc has announced the presale of PoshCoin, the all-new cannabis cryptocurrency, on September 28, 2022. With this presale, the company aims to offer end users – cannabis fans an opportunity to gain insights into PoshCoin before unveiling it to the general public. The much-awaited presale of PoshCoin […]
  • Research Finds Bitcoin Mining Equates to 0.10% of Global Greenhouse Gas Emissions
    Bitcoin News - 4 hours ago
    According to a recent report published by the Cambridge Centre for Alternative Finance (CCAF), bitcoin mining worldwide accounts for around 0.10% of global greenhouse gas (GHG) emissions or 48.35 million tons of carbon dioxide per annum. Moreover, CCAF’s report details that “Bitcoin’s environmental footprint is more nuanced and complex” and because of complexity issues it […]
  • Biggest Movers: LINK Hits 6-Week High, UNI up 16% on Tuesday
    Bitcoin News - 5 hours ago
    Chainlink hit a six-week high during Tuesday’s session, as the token rose for a sixth consecutive session. The move saw the token rally past a key resistance level in the process. Uniswap was also in the green, with prices climbing by as much as 16% earlier in the day. Chainlink (LINK) Chainlink (LINK) rose for […]
  • Mature Bitcoin Wealth Taps an All-Time High — Diamond Hands Trend Highlights ‘Refusal to Spend’
    Bitcoin News - 7 hours ago
    After bitcoin neared $25K roughly 44 days ago, the crypto asset’s price has lost more than 17.88% in value against the U.S. dollar. Onchain analysis from researchers at Glassnode details that the price drop has placed short-term holders into “severe unrealized loss.” Long-term holders, on the other hand, are holding strong and Glassnode researchers say […]
  • Bitcoin, Ethereum Technical Analysis: BTC Back Above $20,000 as Bulls Return to Crypto Markets
    Bitcoin News - 8 hours ago
    Following a turbulent start to the week, bitcoin was back in the green on Tuesday, as the token climbed back above $20,000. The move saw prices race to their highest point in nearly two weeks, moving past a key resistance level in the process. Ethereum was also trading higher, as it neared the $1,400 level. […]
  • Digital Neobank Nubank Reaches 70 Million Customers in Latam; Almost 2 Million Have Purchased Crypto
    Bitcoin News - 9 hours ago
    Nubank, a Brazil-based digital bank, has announced a new milestone in its operations. The company announced that it has reached 70 million customers in Latam, making it one of the biggest financial institutions of its kind in Brazil. The company also announced that almost 2 million of its customers are cryptocurrency investors. Nubank Reaches 70 […]
  • Rebus Announces Public Coin Distribution via Osmosis
    Bitcoin News - 10 hours ago
    PRESS RELEASE. RebusChain, a platform set to take DeFi mainstream, is going public by announcing its public coin distribution (PCD) late this Summer. The PCD means those supporting its mission can now acquire coins via liquidity bootstrap pool (LBP) on the Osmosis network, and this marks a significant milestone in the Rebus project, following successful […]
  • Binance Resumes Offering Futures Trading Products to South African Users
    Bitcoin News - 12 hours ago
    One of the world’s biggest cryptocurrency exchanges by volumes traded, Binance, has said its futures products are now available to eligible South African users. In a message to its users, Binance suggested it has rectified issues with the regional regulator and that its activities in South Africa are now above board. Products Offered Unchanged […]
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