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30 мая 2023 15:32

🇨🇳 China Embraces Web 3.0: Shaping The Global Landscape of Decentralized Technologies

China’s commitment to Web 3.0 technology is positioning it as a key player in shaping the future of decentralized technologies worldwide. Web 3.0 refers to the next generation of the internet, characterized by decentralized platforms, blockchain technology, and enhanced user control over data privacy. China, with its massive population and thriving tech industry, recognizes the potential of Web 3.0 to empower individuals and revolutionize various sectors, from finance to governance.

China’s central role in Web 3.0 development is exemplified by its robust blockchain infrastructure and widespread adoption of digital currencies. The country has made significant strides in blockchain technology, establishing research institutes and fostering collaborations between government, academia, and industry. Chinese companies are actively exploring blockchain applications in various sectors, such as supply chain management, intellectual property, and healthcare. Moreover, China’s proactive approach to digital currencies is paving the way for a future where cryptocurrencies play a crucial role in the global economy.

Source

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28 мая 2023 16:51

📣 New York Miner Coinmint Sues California Chip Maker For $23 Million

According to CoinDesk, Coinmint, a New York cryptocurrency mining firm, accused two semiconductor companies of using “elaborate deception” to entice miners into a $150 million purchase deal, and the lawsuit sought more than $23 million in damages. Coinmint claims that bitcoin technology company Katena Computing and semiconductor design firm DX Corr devised a scheme to induce it to acquire up to $150 million in Bitcoin mining machines but that Katena was incapable and did not intend to deliver the devices.

The complaint charges DX Corr and its executives, as well as former Coinmint workers, with fraud, violation of contract, and breach of fiduciary responsibility. According to Coinmint, these devices were not planned nor capable of being delivered by Katena. This is the core of a case filed on January 26th in California’s Santa Clara County Superior Court. The company claims that Katena Computing engaged in unethical actions, using unlawful influence and maybe using bribery to get co-conspirators to participate in this scheme. In this alleged deception, an unnamed Coinmint employee got involved in a $150 million procurement contract for Bitcoin mining equipment. Its claims go beyond the original $23 million deposit it made for the transaction.

Source

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26 мая 2023 15:41

📣 Fahrenheit Becomes The Winner Of Celsius Bid, Will Create A New Company

Fahrenheit, a cryptocurrency consortium, has won a deal to purchase bankrupt lender Celsius Network, whose assets were originally valued at roughly $2 billion. Fahrenheit was chosen as the successful bidder in the court-approved auction procedure by Celsius Network in cooperation with its official committee of unsecured creditors. US Bitcoin Corp, Arrington Capital, Proof Group, Steven Kokinos, and Ravi Kaza comprise the Fahrenheit group.

According to court records, the group would buy Celsius’s institutional loan portfolio, staked cryptocurrencies, mining business, and more alternative assets, and must pay a deposit of $10 million within three days to seal the sale. The Blockchain Recovery Investment Consortium, comprised of Van Eck Absolute Return Advisers Corporation and GXD Labs LLC, was chosen as the backup-bidder, with competing bidder NovaWulf losing out. The new company will get between $450 and $500 million in liquid bitcoin under the terms of the agreement, and US Bitcoin Corp will build a variety of crypto mining facilities, including a new 100-megawatt facility.

Source

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24 мая 2023 09:02

🔐 Ledger CEO concedes subpoena to access user funds is a concern

Three days ago, Ledger shareholder and former CEO Éric Larchevêque acknowledged that governments could subpoena access to user funds held on a Ledger device that has subscribed to its new Recover service. The comments sparked consternation among Ledger users, but Ledger CEO Pascal Gauthier has now shrugged off concerns, arguing that such a scenario is unlikely to happen.

"The only concern really is if we get subpoenaed by a government to say now this user specifically, we would like you to retrieve the three shards etc.," he said, speaking on the What Bitcoin Did podcast. The Ledger Recovery service is an opt-in service that lets users elect to have their seed phrase encrypted and split into three shards. These shards are then stored with three third-party companies. The seed phrase can only be restored if the three shards are combined on a Ledger device — and for the user to do so, they need to pass an identity verification test. The service costs $9.99 a month and if a user stops paying, they won't be able to access the backup after a certain point.

Source

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22 мая 2023 08:16

🏦 SEC Vs Coinbase: Lawyer Unfolds Coinbase’s Brilliant Game Plan

Referring to Coinbase’s Mandamus Petition, XRP attorney John Deaton recalled that the U.S. Securities and Exchange Commission (SEC) made Chair Gary Gensler’s public comments devalued. The SEC took the stance when it recently asked the Judge to deny Coinbase’s request to ask the agency to respond to a rulemaking petition. Coinbase submitted the petition in 2022, seeking clarity on how securities laws apply to cryptocurrency market.

The XRP Attorney said the SEC’s fight is on three separate fronts but it chose to be politically right. Recently, the XRP Vs SEC lawsuit took a new shape after Judge Analisa Torres, who is overseeing the case, denied the SEC’s request to conceal the Hinman emails. In a latest, the two parties got a one week extension for the date of revealing the documents. Deaton said that the Coinbase writ essentially works against the SEC itself as “the more the SEC speaks the more credibility it loses.” The SEC wants to push a political agenda and win at all costs while justice and investor protection be dammed, he added. Overall, the Coinbase Writ was the right move, he explained.

Source

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20 мая 2023 16:26

💰 Filecoin Foundation Objects To SEC Classifying FIL As A Security

According to CryptoSlate, the Filecoin Foundation has refuted the US Securities and Exchange Commission’s (SEC) assertion that its FIL tokens are securities in a statement. “Over the last decade, thousands of people worldwide have contributed to this open-source project to create a decentralized, efficient, and robust foundation for humanity’s most important information. That includes hundreds of organizations and teams building on the network.

Grayscale revealed that the US Securities and Exchange Commission (SEC) had asked it to withdraw its application to launch a Filecoin trust product (FIL). Grayscale said in a statement that it received comments from the SEC stating that the FIL “meets the definition of a security.” However, the organization disagrees with the opinion of the SEC staff and does not believe that the FIL is a security under federal securities laws. Grayscale intends to respond promptly to SEC staff to explain the legal basis of the company’s position. Grayscale cannot predict whether or not SEC staff will be convinced that their position is correct, and if not.

Source

@TradeCryptoNow

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18 мая 2023 05:14

🪙 Dogecoin’s Daily Transactions Skyrocket After DRC-20 Tokens Introduction

The daily transaction volume of Dogecoin has surged tenfold from its average daily rate earlier this week, reaching a lifetime peak. As reported by BitInfoCharts, the network saw over 645,000 transactions on Sunday, which briefly placed it ahead of both Bitcoin and Litecoin transactions that day before falling back to previous levels as of Wednesday. This marks a significant increase compared to the usual 20,000 transactions that Dogecoin tends to see on a daily basis.

So, what triggered this sudden growth? Well, on May 9, the DRC-20 token standard was introduced, which has led to an immediate increase in network activity. Essentially, this standard allows developers to issue tokens that take network fees in the form of dogecoin (DOGE). This adds to the value proposition for dogecoin and lays the path for potential decentralized finance (DeFi) services built on the blockchain. However, not everyone is pleased with the DRC-20 token deployment. Critics point out that it may lead to network congestion and that it moves away from dogecoin’s aim of being used as an everyday currency.

Source

@TradeCryptoNow

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16 мая 2023 08:08

🪙 Bitcoin Cash Prices Bump Ahead of ‘CashTokens’ Upgrade

Bitcoin Cash (BCH) prices jumped as much as 6% ahead of a mainnet upgrade that will allow developers to issue tokens atop the network, among other enhancements. The ‘hard fork’ is scheduled for about noon time UTC on Monday. A hard fork refers to an upgrade in any blockchain network. Bitcoin Cash’s May hard fork is set to bring added security and privacy to the fledgling network, with plans for “CashTokens”.

Other proposed improvements already locked in include smaller transaction sizes – which help speed up transactional times – and smart contracts functionality that could allow Bitcoin Cash-based applications built that offer recurring payments, derivatives trading, and crowdfunding opportunities, among other uses, to Bitcoin Cash users. This development comes on the back of growing interest in tokens issued on Bitcoin: The recently-launched ‘Bitcoin Request for Comment’ (BRC20) tokens. BRC-20 data, shows over 11,000 tokens issued on Bitcoin are available on the open market as of Monday with a cumulative market capitalization of $500 million.

Source

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14 мая 2023 07:05

📣 Milady (LADYS) Has Been Listed On Crypto.com 2 Days After Elon Musk Tweeted About It

An announcement was made by Crypto.com, a digital asset exchange based in Singapore, stating that it has begun listing Milady (LADYS) on its mobile application. Just a few short days after billionaire Elon Musk mentioned a new memecoin in a tweet, which caused its value to skyrocket, a popular cryptocurrency exchange has decided to sell the memecoin. Milady Meme Coin (LADYS) has been added to the Crypto.com App’s list of supported cryptocurrencies and stablecoins.

Users of the Crypto.com App can now make purchases of LADYS at genuine pricing using USD, EUR, GBP, and more than 20 additional fiat currencies. Following a tweet by the CEO of Tesla on the cryptocurrency LADYS earlier this week, the stock had a phenomenal increase of more than 2,000% during the previous trading week. In the past, information obtained from the Lookonchain website found that a mysterious cryptocurrency wallet that had been created barely an hour before Musk’s tweet had generated a massive profit of 2300% from the Milady transaction. LADYS has experienced a significant decline after reaching its all-time high, and as of the time of this publication.

Source

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12 мая 2023 05:30

🪙 Uniswap Weighs Proposal to Enrich Token Holders, Switch on Liquidity Pool Fees

Community members of decentralized exchange (DEX) Uniswap are considering a proposal to switch on fees for many of its liquidity pools. It’s the latest development in a long-standing debate on Uniswap’s protocol fees and broader finances. Implementing fees on the pools would allow the Uniswap protocol to top up its treasury’s coffers and provide rewards to holders of the protocol’s native token Uniswap (UNI).

Uniswap’s decision to further monetize its platform by switching on fees for a large swath of its version-three (v3) liquidity pools and all of its version-two (v2) pools could also set a precedent for the large DeFi ecosystem, of which Uniswap has captured roughly 70% market share. Uniswap v2 has nearly $1.2 billion total value locked and has averaged roughly $367 million in daily volume on Ethereum during the past week, DefiLlama data shows. Meanwhile, Uniswap v3, which is deployed on SushiSwap, Curve, Balance and PancakeSwap, among other networks, has roughly $2.9 billion total value locked.

Source

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11 мая 2023 07:13

💰 Lido DAO Governance Holds Onto 39 ETH Despite Sushi Recovery Effort

Lido DAO governance is currently deliberating on a proposal that would see the return of funds that ended up in its execution layer rewards vault following a SushiSwap attack that resulted in a $3.3 million loss last month. The majority of the lost funds were attributed to Michael Patryn, otherwise known as Omar Dhanani, who is an alleged serial scammer and a co-founder of QuadrigaCX, which is now bankrupt.

To address this, a proposal to return these funds had been flagged with the Lido team, and a related snapshot vote was posted last week. As of publication, an overwhelming majority of Lido community members (99.92%) have voted to take “no action,” choosing not to return the funds back to Sifu. Despite the proposal making sense on the surface level, Misha Putiatin, the CEO of Statemind, noted on a discussion thread that there could be severe ramifications to the protocol if it were to be approved. He pointed out that without a clear framework, Lido DAO could be heavily throttled by an inflow of hack reimbursement proposals. In case of reimbursement, Lido DAO would need to be an arbitrary judge of what constitutes legal or illegal activity for other protocols which is way beyond its usual capacity and might bring unpredictable legal risks.

Source

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09 мая 2023 06:50

🪙 Binance Resumes Bitcoin Withdrawals After Second Pause, Says It's Adjusting Fees and Integrating Lightning Network

Binance has once again resumed bitcoin (BTC) withdrawals after a second pause, as the Bitcoin network suffers from unprecedented congestion. Binance briefly paused bitcoin withdrawals for around two hours Sunday afternoon U.S. time as the number of unconfirmed transactions hit a record high. Its second pause, taking place Sunday evening U.S. time, was also for just over two hours.

"To prevent a similar recurrence in the future, our fees have been adjusted. We will continue to monitor on-chain activity and adjust accordingly if needed," Binance said in a tweet. "Our team has also been working on enabling BTC Lightning Network withdrawals, which will help in such situations." The number of unconfirmed transactions was approaching 500,000 when the second halt took place, from around 400,000 when the first pause occurred. It is now beginning to decline, and is currently just over 430,000 over a 12-hour period. The price of bitcoin continues to drift downward and is now at $28,240, down 2.6% in the last 24 hours.

Source

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07 мая 2023 13:29

🪙 The Memecoin Chaos Has Pushed Ethereum Gas Fees To A 12-Month High

Ethereum gas fees have risen to a 12-month high as the latest memecoin craze has prompted investors to spend millions of dollars on Ethereum memes, particularly Pepe (PEPE). Earlier this week, the average daily gas price on Ethereum reached a 12-month high of 87 gwei. Since the start of PEPE on April 18, this figure has climbed by more than 50%. The average petrol price once surpassed 150 gwei. This surge, according to CoinMetrics, reflects increased demand for the Ethereum network, primarily from memecoin dealers.

According to CoinMetrics, the Ethereum (ETH) ecosystem is still producing alternative cryptocurrencies that are worth millions of dollars. In the past week, PEPE’s value has increased by 1285.5%, bringing its fully diluted market cap close to $1.6 billion. This makes it the most notable memecoin currently available on the market. The PEPE-WETH liquidity pool of Uniswap, the leading decentralized exchange on Ethereum, has recently become the largest liquidity pool in terms of the number of transactions. This is largely attributable to the development of Pepe (PEPE). After Binance announced the inclusion of FLOKI (FLOKI) and Pepe (PEPE) in the Innovation Zone, the price of Pepe (PEPE) has increased by 122% in the past 24 hours.

Source

@TradeCryptoNow

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05 мая 2023 05:47

🏦 Coinbase to Stop Issuing New Loans Via Coinbase Borrow

Coinbase Borrow’s days are numbered. Customers of the U.S.-based exchange who used the program – which allowed customers to borrow fiat loans up to $1 million against as much as 30% of their bitcoin holdings, with interest – received an email on Wednesday informing them that the last day to take out new loans would be May 10. Coinbase has been under extra scrutiny from regulators following crypto exchange FTX’s collapse.

Coinbase Borrow seems – at least for now – to be unconnected to any enforcement action. A person familiar with the matter told CoinDesk the closure of Coinbase Borrow had nothing to do with either pending or past troubles with the SEC. “We regularly evaluate our products to ensure we’re prioritizing the offerings that our customers care about most,” the spokesperson said. “Effective May 10, we will stop issuing new loans through Coinbase Borrow. There is no impact on customers’ outstanding loans, and no action is required from them at this time.” Coinbase Borrow launched in November 2021.

Source

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03 мая 2023 07:42

📣 Axelar enables Sommelier DeFi vaults to connect to Arbitrum

Interoperability protocol Axelar has enabled Sommelier, a yield optimization protocol on Cosmos, to become a cross-chain application by connecting it with Ethereum Layer 2 network Arbitrum One. Sommelier's DeFi vaults automatically rotate capital across different assets and let users optimize yields on their crypto assets through lending and trading services. These DeFi vaults operate on Sommelier's own blockchain in the Cosmos ecosystem and Ethereum, and now they will be available on Arbitrum.

"At Offchain Labs, we are delighted to welcome high-caliber protocols such as Sommelier who focus on finding innovative ways to improve capital efficiency in DeFi on Arbitrum One," said Peter Haymond, senior partnership manager at Offchain Labs. Sommelier will utilize Axelar's General Message Passing (GMP) protocol. This is a general-purpose communication protocol between the Cosmos ecosystem and blockchains that support Ethereum-based smart contracts, like Arbitrum. "Sommelier has pioneered the architecture for non-custodial access to sophisticated DeFi strategies. Axelar GMP enables Sommelier to pass strategy instructions to vaults on Arbitrum One.

Source

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29 мая 2023 15:33

🟠 Binance Now Terminating Australia Due To Banking Partner Issues: CZ

After Binance’s troubles with the country with tight crypto institutions, Changpeng “CZ” Zhao spoke out about why the exchange had to leave Australia. CZ said that for Binance to close its business in Australia and the Australian dollar trading pair, this is a decision made by the legal currency channel, that is, the bank partner stops cooperation with it. Without access to fiat currency, there is no way to deposit or withdraw AUD, and the pair is illiquid, he stated.

Binance Australia has told customers that its Australian currency services have been terminated after its local payment services provider was directed to discontinue support for the exchange. The Australian arm said on May 18 that Australian dollar PayID deposits and bank transfer withdrawals might be affected owing to a decision made by its third-party payment service provider. Binance later issued an announcement that it would delete and delist the relevant Australian dollar trading pairs on June 1. Users of Binance’s platform may still trade the impacted assets on other trading pairs, according to the company. It would, however, discontinue its Trading Bots services for the aforementioned pairs.

Source

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27 мая 2023 12:35

🇭🇰 Huobi Hong Kong Ready To Offer More Cryptocurrency Services From June 1

According to the official Twitter, Huobi has announced that it will officially launch Huobi Hong Kong to be ready to provide users with various cryptocurrency trading services. Enlisting the regulator’s backing, Huobi officially launched the Huobi Hong Kong station to provide more crypto services to users in June. From June 1, users can buy, sell and hold significant cryptocurrencies, including BTC, ETH, and other major cryptocurrencies listed in its independent index through Huobi HK.

The Hong Kong Securities Regulatory Commission recently published the conclusion of its consultation on the “Guidelines for Virtual Asset Trading Platform Operators,” confirming that the regulation of asset trading platform operators virtual will go into effect on June 1. To fulfill its ambition to become the new crypto hub, SFC hong kong has proposed allowing licensed virtual asset trading platforms to provide services to retail investors. Because of the general public support for the relevant proposals, the SFC will implement the “Guide on Virtual Asset Trading Platforms” and the “Guide on Anti-Money Laundering” and implement a number of revised and clarified as stated in the concluding document.

Source

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25 мая 2023 08:17

🏦 Coinbase Launches New E-Wallet Service On Ethereum Despite Tension With SEC

Coinbase has launched a new wallet service on the Ethereum mainnet and supports ERC-721 and ERC-1155. It uses MPC technology to secure customer assets. As shared on Twitter by a software developer at Coinbase, the company has named its Web3 wallet solution as a direct-to-user product, “Wallet as a Service,” adding that the product has already been released and launched on the Ethereum mainnet. According to the introduction, WaaS uses the most advanced multi-party computing (MPC) technology to secure customers’ private keys.

The product enables various Web3 interactions through APIs and SDKs. Coinbase Payments SDK facilitates the purchase of a wide range of digital assets. The exchange said the secondary Coinbase API facilitates businesses’ ability to integrate crypto-based payments, including DeFi solutions. Wallet as a Service users can remove their private keys from the exchange anytime. Coinbase previously announced plans to open a derivatives exchange in Bermuda, and this week this exchange also revealed an expansion in Singapore. The crypto exchange has expanded its Coinbase One subscription service to the UK, Germany, and Ireland and aims to expand its international reach in 35 countries.

Source

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23 мая 2023 07:39

💰 Crypto Miner Marathon Pledges $500K in Matching Funds to Brink for Bitcoin Development

Bitcoin mining behemoth Marathon Digital Holdings (MARA) says it will match up to $500,000 in donations to non-profit Bitcoin research and development firm Brink, on a two-for-one basis during the Bitcoin 2023 conference in Miami Beach, Florida, and subsequently match additional donations on a one-for-one basis after the conference up to Dec. 31. The donations will go towards funding grants and programs that pay Bitcoin Core developers.

Earlier this year there were fears of a drop-off in the Bitcoin funding landscape from the current market downturn – crypto winter, in the industry lingo. Marathon’s pledge, which could raise $1 million when third party donations are included, shows one vested corporate entity's willingness to financially support the Bitcoin funding ecosystem. Brink was founded in 2020 and supports Bitcoin protocol development via a fellowship mentor program as well as a developer grant program. Brink co-founder and executive director, Mike Schmidt joined Thiel on stage at the conference to announce the campaign.

Source

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21 мая 2023 09:47

📣 Coin Cafe Pays Up $4.3M After Overcharging Customers

Office of the New York Attorney General revealed that it had taken action against crypto company Coin Cafe for its unfair business practices. Coin Cafe was charging its users extremely high fees, which the company failed to adequately inform them about. The company advertised its wallet service as free, but charged tens of thousands of dollars in fees to its New York residents. The agency found that certain user account balances were completely depleted as a result of these fees.

Coin Cafe changed its fee structure four times, and in October 2022, it introduced an exorbitant fee increase. The company began to charge users the greater of 7.99% or $99 per month if they did not transact crypto over a 30-day period. As a result of its actions, Coin Cafe surrendered $4.3 million to the agency. While Coin Cafe successfully obtained the state’s BitLicense in 2023, it continued to charge its users high fees even after obtaining the license. In addition, the company failed to register with the New York Attorney General’s office, which it should have done to comply with regulations. Coin Cafe will now pay restitution to investors, including $508,000 to 340 individuals in the state of New York.

Source

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19 мая 2023 06:24

📣 dYdX To Launch More SubDAOs Ahead Of Its V4 Upgrade

According to a post by Fox Labs Digital, an Australian marketing company, duties for monitoring should be divided among multiple smaller decentralized autonomous organizations (DAOs). According to a blog post, the objective is to build the protocol, a completely decentralized version of the protocol. In the near future, the dYdX DAO will most likely be composed of multiple autonomous subDAOs, each of which will focus on essential functional areas of the protocol and will eventually be answerable to the community.

The protocol has now opened two SubDAOs, one for its reward program and one for its operational activity. The SubDAO utilized for operations will expire on June 19, according to a governance post published by the dYdX Foundation. The notion of expanding beyond the existing two subDAOS (one for dYdX’s awards program and the other for its operational operations) comes as the protocol’s community prepares to upgrade to the fourth edition (v4) of the Cosmos blockchain. Each SubDAO is said to operate in the fundamental functional areas of the dYdX protocol and is ultimately accountable to the community. Running any SubDAO will need soliciting community feedback and adhering to a proposal lifecycle.

Source

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17 мая 2023 05:39

🔻 Chainlink Automation Is Now Live On Layer-2 Optimism

Chainlink, an Oracle service provider, introduced Chainlink Automation on Layer-2 Optimism. Chainlink Automation allows developers to grow by offering them the capacity to do DevOps maintenance activities, similar to how Optimism lets DeFi developers smoothly scale their applications. As a result, developers will be able to create more powerful dApps, bringing more consumers to the Optimist ecosystem.

dApp developers can integrate Chainlink Automation into their projects, monitor smart contracts using the decentralized node network, and then use Chainlink’s transaction management Execution of functions by the controller to achieve the reliability and high-performance automation required to build advanced dApps. BarnBridge, DeFiEdge, Lyra, and Pickle Finance are among the projects that have already integrated Chainlink Automation to activate crucial smart contract processes on Premise. Chainlink Automation to safely and cost-effectively monitor automation logic off-chain and then launch an on-chain transaction to perform the smart contract function when predetermined criteria are satisfied.

Source

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15 мая 2023 05:30

🪙 Over 440,000 Ethereum Added to Liquid Staking Derivatives in Two Weeks

In less than two weeks, the total value locked (TVL) in liquid staking derivatives has increased by 441,110 ether, worth roughly $793 million. While Lido Finance dominates the market with 74.35% of the TVL, competing liquid staking protocols Rocket Pool and Frax Ether have recorded double-digit gains of 34% to 42% in the past 30 days. The second-largest LSD protocol is Coinbase Wrapped Staked Ether, with 1,145,137 staked ether.

Liquid staking protocols continue to grow, with the top decentralized finance (defi) protocols recording an additional 441,110 ethereum (ETH). As of May 12, 2023, the total value locked (TVL) in liquid staking derivatives (LSDs) stands at 8,872,715 ether, equivalent to $16.101 billion. This marks a significant increase from the 8,431,605 ethereum locked in liquid staking protocols on April 30. In just 12 days, the number of ether deposits surged by an impressive 5.23%. Despite the recent addition of 441,110 ethereum, the TVL in LSDs is currently worth less than it was on April 30, owing to ethereum’s decline in market value. Notably, Lido dominates the market with a 74.3596% share.

Source

@TradeCryptoNow

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13 мая 2023 06:09

🥇 Bitcoin 2023 Conference to Host Political Leaders from Around the World

Bitcoin enthusiasts, tech innovators, and industry leaders from around the world will come together to discuss the latest advancements in the Bitcoin industry at the Bitcoin 2023 Conference. The conference is committed to providing a platform for diverse views and opinions to build a strong Bitcoin community that focuses on solving real problems and finding solutions. The program includes speakers from all spheres of society, from academics to engineers to politicians.

Prominent political figures speaking at the conference include Cynthia Lummis, Senator from Wyoming; Governor Ridwan Kamil of West Java, Indonesia; Congressman Patrick McHenry of North Carolina; Congressman Byron Donalds of Florida; Tulsi Gabbard, former Democratic Congresswoman from Hawaii; and David McIntosh, former Congressman & White House Senior staff. Senator Lummis, a staunch advocate for Bitcoin and technological innovation, will share her views on cryptocurrency's role in the financial industry. She has been a vocal proponent of Bitcoin, co-sponsoring the Financial Innovation Act of 2021, which calls for a regulatory framework for cryptocurrencies and blockchain technology.

Source

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11 мая 2023 21:28

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Article:
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10 мая 2023 07:02

🏦 Coinbase CLO Now Criticizes SEC For Crypto Custody Proposal Mistakes

The crypto exchange Coinbase’s chief legal officer, Paul Grewal, highlighted that even if the US Securities and Exchange Commission (SEC) needs a thorough revision of the laws, registered investment advisers (RIAs) must deposit client funds in a compliant custodian. His convincing counter-arguments call the SEC’s approach into question and provide a more reasonable response. Grewal makes a persuasive argument for why the plan should be revised.

Although the US Securities and Exchange Commission recognizes Coinbase Custody as a qualified custodian, Coinbase argues the updated RIA custody regulation singles out crypto to make incorrect assumptions about custodian activities based on securities. Other asset classes, including crypto assets, are not adequately protected by the SEC’s proposed regulation. The CLO brazenly said that the SEC’s plan to prohibit RIAs from trading on non-QC crypto exchanges would have the opposite effect, damaging the same RIAs and customers it seeks to safeguard. Grewal favors a more cautious approach, allowing for minimal non-QC exposure to allow RIAs to trade cryptocurrencies for their customers without undue limitations.

Source

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08 мая 2023 11:35

🪙 Ethereum (ETH) Could be Hit by New Wave of Volatity: Data

Ethereum network’s active deposits have reached an eight-month high. This metric depicts the total number of all incoming and outcoming transactions involving deposit addresses and accounts for both user-to-exchange transactions – from a personal wallet to a deposit address, as well as from a deposit address to the main exchange wallet. According to the latest data compiled by crypto-analytic Santiment, the deposits hitting an eight-month high could potentially foreshadow volatility in Ethereum’s price.

In such a case, the enhanced price movements are likely to have a similar effect on the asset to that of the blockchain’s highly anticipated transition from PoW to PoS during Merge, as well as the FTX’s collapse. The volatility forecast comes as Ether’s price remained trapped in a tight range amid low trading volume, unfazed by the Fed’s widely expected 25 basis point interest rate hike. While it is unclear as to the direction Ether’s price will be swayed in the near term, data suggest increased selling pressure on the asset. ETH suppression in the price comes as whales holding 1,000 to 10,000 ETH offloaded a massive amount of tokens over the past two weeks.

Source

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06 мая 2023 06:44

📣 Voyager could distribute cash and crypto to creditors in ‘next few weeks’

Bankrupt lender Voyager Digital could start distributing cash and crypto to creditors “within the next few weeks,” according to the Official Committee of Unsecured Creditors in the troubled crypto lender’s bankruptcy case. “Voyager is also finalizing everything internally that is necessary to make distributions to creditors,” the creditors committee said on Twitter. "We are hopeful that initial distributions will begin within the next few weeks.

The court-approved restructuring plan had included a “toggle” that allowed Voyager to liquidate if Binance.US decided to exit the deal. The crypto exchange said it backed away from the plan due to the “hostile and uncertain regulatory climate in the United States.” The failed deal between Voyager and Binance.US was met with government scrutiny. The U.S. Securities and Exchange Commission indicated in a court hearing that staff believe Binance.US is operating an unregistered securities exchange in the country, although the commission hasn’t taken an official position. Voyager must first file the liquidation procedures in the U.S. Bankruptcy Court.

Source

@TradeCryptoNow

Trade Crypto Now

04 мая 2023 05:14

🖼 ConsenSys Layer 2 network Linea adds loyalty NFT campaign to drive adoption

ConsenSys-built Layer 2 network Linea is introducing a loyalty NFT campaign to boost activity on its testnet. The program will reward users with NFTs for performing certain tasks related to using the testnet, according to a blog post. The plan aims to help stress the network and test activities at scale ahead of the network’s mainnet launch expected in the coming months.

The weekly challenges will involve using bridging protocols built on the Linea testnet including Hop Protocol, Celer Network, Multichain and Connext. Bridging refers to the transfer of digital assets across different networks. The campaign follows similar ones run by Layer 2 networks Arbitrum, Optimism and Polygon that all used the loyalty platform Galxe, which will also be used by Linea. The campaigns have often resulted in large increases in activity on Layer 2 networks, sometimes causing congestion on the network. Arbitrum’s Odyssey campaign even resulted in fees temporarily rising higher than on the Ethereum mainnet, a suboptimal result for a supposed scaling solution.

Source

@TradeCryptoNow

Trade Crypto Now

02 мая 2023 06:07

🆘 $93.4 Million Was Stolen In 41 Crypto Hacks In April

The recent market rally has created a wave of interest in the crypto community. However, as the industry grew, so did security concerns and the possibility of theft. In the past month, crypto-related theft has also recorded numbers worth considering. PeckShield’s monitoring showed that in April this year, 41 hacking incidents occurred, with a total of $93.4 million stolen. As of April 30, 1245 ETH and 2515 BNB were transferred to Tornado Cash, and 203 ETH were transferred to Fixed Float.

Additionally, “jaredfromsubway.eth” earned at least $1.4 million from sandwich attacks involving PEPE. The “jaredfromsubway.eth” was wedged between crypto traders, mostly those wagering on tokens like PEPE and CHAD. Sandwich bots are early adopters of freshly released tokens like PEPE and CHAD – meme currencies with no inherent value that captured the attention of Crypto Twitter degens virtually overnight as the tokens skyrocketed over 10,000%. CertiK, a crypto security and auditing company, also published an April overview of crypto vulnerabilities, scams, and hacks, indicating a total loss of $103.7 million in April, increasing the year-to-date total loss to $429.7 million.

Source

@TradeCryptoNow