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Markets

Bitfarms increases mining pace, generates 411 BTC in September

The Canadian Bitcoin (BTC) mining firm Bitfarms has been actively scaling operations, significantly increasing the amount of mined BTC last month. Bitfarms mined a total of 411 bitcoins in September 2023 up 7.3% from the amount mined in previous month, the company announced in its latest mining updated on Oct. 2. Out of 411 BTC mined, Bitfarms sold 362 BTC, generating total proceeds of $9.5 million. The firm continues to hold 703…
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AI a powerful tool for devs to change gaming, says former Google gaming head

The world embraced artificial Intelligence (AI), hoping to see it transform complex and day-to-day processes. While generative AI models won millions of users, discussions around the transformative potential of AI in all walks of life became mainstream. Today, AI is being tested across all business verticals as entrepreneurs challenge the status quo, streamlining and automating processes in varying industries. This drive also resurrects ecosystems that have lost their vigor over years of…
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Swiss bank UBS launches tokenized money market fund on Ethereum

Leading Swiss bank UBS has launched a live pilot of a tokenized version of its variable capital company (VCC) fund as part of Project Guardian, an initiative led by Singapore’s central bank. In a press release, UBS Asset Management announced that the fund is part of a broader VCC umbrella designed to bring different types of real-world assets (RWA) to the blockchain. According to Thomas Kaegi, the head of UBS Asset Management…
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Markets

Hashing It Out: What happens when cloud meets Web3?

Cointelegraph’s Hashing It Out podcast talks to Howie Jiang, Web3 chief solution architect at Tencent Cloud Europe, and Fakhul Miah from Elastos about how crypto can take advantage of cloud technology. The two firms recently announced a partnership to “accelerate the Web3 space.“ Tencent Cloud, a popular global cloud vendor, is betting heavily on Web3 with operations in 27 regions and multiple projects related to Web3. Jiang highlights the firm’s experience with Web3 and…
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Markets

IMF working paper proposes country-level assessment matrix for crypto risks

A working paper published by the International Monetary Fund (IMF) has proposed a country-level risk assessment matrix that aims to summarize vulnerabilities and potential policy responses for the crypto sector. On Sept. 29, the IMF published a working paper titled “Assessing Macrofinancial Risks from Crypto Assets.” Within the paper, authors Burcu Hacibedel and Hector Perez-Saiz proposed a Crypto-Risk Assessment Matrix (C-RAM) for countries, to spot indicators and triggers of potential risks in…
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Markets

Sam Bankman-Fried FTX trial — five things you need to know

Sam Bankman-Fried will face his first day in court over a litany of charges less than a year after the calamitous collapse of cryptocurrency exchange FTX. The former CEO of the bankrupt exchange is set to face 21 days in court during his criminal trial scheduled from Oct. 4 to Nov. 9. Bankman-Fried has been in pre-trial detention at the Metropolitan Detention Center since Aug. 11 and has filed several unsuccessful motions…
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Markets

FTX auditor Prager Metis faces SEC legal action over violations

SEC takes legal action against Prager Metis, auditor of bankrupt crypto exchange FTX. Prager Metis is accused of breaching auditor independence rules by adding indemnification provisions. Lack of transparency and ethical concerns raise questions about auditing practices in the cryptocurrency industry. The United States Securities and Exchange Commission (SEC) has taken legal action against Prager Metis, the auditor of the now-bankrupt cryptocurrency exchange FTX, alleging multiple breaches of auditor independence rules. The…
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Markets

Silk Road founder marks 10 years into his double life sentence in prison

The founder of the former online black market Silk Road, Ross Ulbricht, marked 10 years behind bars after he was given a double life sentence by United States authorities in 2013. On Oct. 2 Ulbricht posted on X that he has already spent a full decade in prison and fears he will spend the remainder of his life “behind concrete walls and locked doors.” He said all he can do now is…
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Markets

Friend.tech revenue surges over 10,000 ETH, TVL tops 30,000 ETH

Decentralized social media platform Friend.tech based on Coinbase’s layer-2 protocol Base has touched new heights in terms of revenue growth and total value locked on its platform. According to data from Dune Analytics, Friend.tech revenue has surged to 10,663 ETH and its TVL grew to over 30,000 ETH on Oct. 2. The recent boom in its revenue and trading activity comes amid a decline in hype from its early days of launch.…
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Markets

Q3 2023 crowned most ‘damaging’ quarter for crypto amid $700M losses: Report

The third quarter of 2023 has been the “most financially damaging” quarter of the year, taking almost $700 million in digital assets across various security incidents, according to the quarterly report of blockchain security firm CertiK. Within the report, CertiK highlighted that there was a total of 184 security incidents that happened in July, August and September 2023. The report highlighted that over $699 million in crypto assets were lost in the…
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Markets

Will XRP collapse? 3 cryptos to buy with promising futures

The crypto market, characterized by its volatility, often witnesses unprecedented surges and sudden declines. However, the recent uncertainty surrounding Ripple’s XRP has shaken the very foundations of the crypto community. With the SEC reigniting their battle against Ripple, potential investors are grappling with doubts over XRP’s future. Yet, even in this clouded climate, some top altcoins are emerging as beacons of promise. At the centre of this new-age investment frontier stands InQubeta and its…
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Markets

7 best DeFi crypto tokens to 10x

In DeFi, discovering tokens with the potential for significant returns is similar to finding a diamond in the rough. Within the labyrinth of the DeFi market, certain trailblazers are shifting paradigms, holding the promise of exponential financial gains and pioneering shifts in the Web3 ecosystem. Use cases range from platforms reshaping the traditional method of business financing using innovative NFT mechanisms to DeFi projects unravelling the interplay between art, AI, and finance. We…
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Markets

BTC price hits ‘Uptober’ up 5% — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week, a new month and a new quarter with a firm bullish move past $28,000. The largest cryptocurrency greets “Uptober” in style with its best weekly close since mid-August — what lies in store next? After mixed BTC price action in September, market participants were prepared for a potentially volatile monthly close, but in the end, this ended up in bulls’ favor. With October frequently the sight…
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Markets

Coinbase crypto exchange obtains payment license in Singapore

The United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore by securing major regulatory approval from the country’s central bank. Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, the firm announced on Oct. 1. The new license, coming one year after Coinbase’s initial in-principle approval in Singapore, enables the company to expand its digital payment token services to individuals and institutions in the country.…
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Markets

September becomes the biggest month for crypto exploits in 2023: CertiK

September has officially become the worst month in 2023 (so far) for crypto-related exploits — with a whopping $329.8 million in crypto stolen. On Oct. 2, blockchain security firm CertiK said the most significant contributor to the month’s totals came from the Mixin Network attack on Sept. 23 when the Hong Kong-based decentralized cross-chain transfer protocol lost $200 million due to a breach of its cloud service provider. #CertiKStatsAlert Combining all the…
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Markets

FTX founder mulled giving Trump $5B not to run for president, says author

Former FTX CEO Sam Bankman-Fried once looked into paying Donald Trump not to run for United States president, according to Michael Lewis, the author of a new book documenting the rise and fall of SBF. Michael Lewis, author of “Going Infinite: The Rise and Fall of a New Tycoon,” spoke about the former crypto billionaire and FTX founder in a 60 Minutes interview on Oct. 1. One of the revelations in the book is…
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Markets

Effective altruism fueled SBF’s ‘ridiculous’ actions at FTX: Ex-Alameda engineer

Effective altruism was used to justify “increasingly risky and ridiculous” actions at crypto exchange FTX prior to its ultimate collapse in November 2022, says a former software engineer at Alameda Research. Speaking to Cointelegraph just days before FTX founder Sam Bankman-Fried’s Oct. 3 trial, Aditya Baradwaj shared how the ideology played a role in the company’s collapse while explaining what it was like to work under the former billionaire. Baradwaj claimed that…
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Markets

Crypto firms beware: Lazarus’ new malware can now bypass detection

North Korean hacking collective Lazarus Group has been using a new type of “sophisticated” malware as part of its fake employment scams — which researchers warn is far more challenging to detect than its predecessor. According to a Sept. 29 post from ESET’s senior malware researcher Peter Kálnai, while analyzing a recent fake job attack against a Spain-based aerospace firm, ESET researchers discovered a publicly undocumented backdoor named LightlessCan. #ESET researchers unveiled…
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Markets

Is Uptober here? Bitcoin, Ethereum suddenly pumps, wiping $70M in shorts

More than $70 million in crypto shorts were suddenly liquidated after a surprise jump in the price of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies on Oct. 1. According to data from TradingView, the sudden pump saw Bitcoin surge 3% in just 15 minutes from $27,100 to $28,053 before settling down just below the $28,000 mark at the time of publication. Happy Uptober to those who celebrate. Remember 2021? pic.twitter.com/qgHy1ThGOf — The…
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Markets

VC Roundup: Investors eyes blockchain analytics, gaming and crypto privacy

Crypto startups keep raising capital despite tight liquidity and adverse macroeconomic conditions. September saw major developments in the space, such as Farmville co-creator Amitt Mahajan raising $33 million to create Web3 games, and Animoca Brands disclosing $20 million capital gathered to push forward the development of its Mocaverse platform. In another related development, Blockchain Capital closed two new funds in September, with $580 million to be deployed in crypto gaming and decentralized…
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Markets

Tokenization is “securitization done on steroids” — Franklin Templeton CEO

Securitization, a practice with over 50 years of history, is undergoing a dramatic transformation, believes Jenny Johnson, CEO of Franklin Templeton, one of the world’s largest asset managers. During CNBC’s Delivering Alpha event, Johnson noted that tokenization — the process of converting asset ownership rights into digital tokens on a blockchain — is akin to “securitization done on steroids,” a term often used to describe something that exceeds expectations. Johnson’s remarks were…
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Markets

Will Bitcoin ‘Uptober’ bring gains for MKR, AAVE, RUNE and INJ?

After rising about 80% in the first two quarters of 2023, Bitcoin (BTC) fell roughly 11% in the third quarter ending September. However, there is a silver lining for the bulls because they managed a positive monthly close in September, the first since 2016. Buyers will try to build upon this momentum in October, which has a bullish track record. According to CoinGlass data, only 2014 and 2018 have produced negative monthly…
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Markets

Microsoft to form nuclear power team to support AI: Report

Tech giant Microsoft is apparently forming a new team to advance its artificial intelligence plans by hiring a professional to develop an energy strategy based on Small Modular Reactors (SMRs) and microreactor energy. According to a job post reported by The Verge, Microsoft is looking for a principal program manager who will lead its nuclear technology efforts to support the development of AI models. “The next major wave of computing is being born,…
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Markets

Crypto synthetic assets, explained

What are crypto synthetic assets? Blockchain-based financial instruments called crypto synthetic assets imitate the value and behavior of actual assets or financial instruments. Crypto synthetic assets, also known as “synthetic assets,” are a class of digital financial instruments created to mimic the value and performance of actual financial assets or assets from the real world, such as stocks, commodities, currencies, or even other cryptocurrencies, without actually owning the underlying assets. These artificial…
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Markets

FTX exploiter moved more than $17.1M in ETH within the last 24 hours

According to recent information from Spot On Chain, an address linked to the FTX exploit, identified as 0x3e9, has conducted transfers exceeding 10,000 ETH, valued at more than $17.1 million, across five different addresses within the past day. It’s worth noting that these addresses had remained inactive for several months before this recent activity. Within these transactions, a significant portion of 7,749 ETH, equivalent to $13 million, was directed toward the Thorchain…
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Markets

DOJ readies witnesses in Bankman-Fried trial, spotlight on FTX assets

The Department of Justice (DOJ) has affirmed its plan to summon former FTX clients, investors, and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX executive. This will shed light on how these individuals viewed their interactions with Bankman-Fried and his company. The DOJ submitted a letter motion in limine on Sept. 30, to enable them to get the interpretation of the witnesses on FTX’s treatment of customer…
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Markets

Vitalik Buterin voices concerns over DAOs approving stake pool operators

Vitalik Buterin, co-founder of Ethereum, has expressed worries regarding decentralized autonomous organizations (DAOs) exerting a monopoly over the selection of node operators in liquidity staking pools. In a September 30 blog post, Buterin issues a warning that as staking pools adopt the DAO approach for governance over node operators—who are ultimately responsible for the pool’s funds—it can expose them to potential risks from malicious actors. “With the DAO approach, if a single…
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Markets

SEC initiates legal action against FTX’s auditor

The United States Securities and Exchange Commission (SEC) has initiated legal proceedings against an accounting firm that had previously provided services to the now-defunct cryptocurrency exchange FTX. According to a September 29 statement, the SEC alleged that Prager Metis provided auditing services to FTX without maintaining the necessary independence, as they purportedly continued to offer accounting services, a practice that is prohibited in the industry. The SEC claims that these activities spanned…
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Markets

Ether futures ETFs launching, SBF trial to begin and 3AC’s Su Zhu arrested: Hodler’s Digest, Sept. 24-30

Top Stories This Week Ethereum futures ETFs to start trading next week Investment firm Valkyrie will start offering exposure to Ether futures in the coming days. On Sept. 28, the firm told Cointelegraph that its Bitcoin Strategy ETF will allow investors access to Ether and Bitcoin futures “under one wrapper,” making it one of the first firms to do so amid several pending applications with the U.S. Securities and Exchange Commission. Starting…
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Markets

Brazil rolls out blockchain-based digital ID

Over 214 million Brazilians will soon be using blockchain technology for digital identity, the government recently announced. Rio de Janeiro, Goiás, and Paraná will be the first states to issue identification documents on-chain through a private blockchain developed by Serpro, Brazil’s national data processing service. The entire country should be able to issue identity documents through blockchain technology by November 6, reads a decree on Sept. 25. According to Alexandre Amorim, president…
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Markets

Expect new crypto regulations to follow Bitcoin ETFs

Aside from liquidity, what do institutions bring to crypto? What precisely is their value added? This is an instructive question to ponder, because there is little consensus on what deeper institutional participation means for an industry that is riven with contradictions. The long-running wait for Bitcoin ETF approval, giving pensions and funds exposure to BTC, may well prove to be a positive catalyst for industry growth. But in focusing on price action,…
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Markets

VanEck to donate 10% profits from Ether ETF to core developers

Global asset manager VanEck will donate 10% of all profits from its upcoming Ether futures exchange-traded fund (ETF) to Ethereum core developers for ten years, the company announced on X (formerly Twitter) on Sept. 29. The beneficiary will be The Protocol Guild, a group of over 150 developers maintaining Ethereum’s core technology. According to VanEck, it’s only fair for asset managers to return part of their proceeds to the community building the…
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Markets

AI tech boom: Is the artificial intelligence market already saturated?

From voice assistants to algorithms predicting global market trends, artificial intelligence (AI) is seeing explosive growth. But as with any emerging technology, there comes a point where innovation risks giving way to oversaturation. The rapid proliferation of AI tools and solutions in recent months has ignited discussions among industry experts and investors alike. Are we witnessing the zenith of AI’s golden age, or are we on the precipice of a market saturated…
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Markets

Bitcoin price posting best September since 2016 as BTC sellers eye $27.5K

Bitcoin (BTC) bulls lost their grip on $27,000 into Sep. 30 as the monthly and quarterly close loomed large. BTC/USD 1-hour chart. Source: TradingView Bitcoin braces for three key candle closes Data from Cointelegraph Markets Pro and TradingView tracked a cooling off for BTC price action ahead of the key September candle print. The largest cryptocurrency remained up nearly 4% month-to-date, this marking its most successful September since 2016, per data from…
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Markets

Leased proof-of-stake (LPoS), explained

Understanding leased proof-of-stake LPoS is a type of PoS meant to increase mining power, address inherent issues found in PoW, and improve other types of PoS, such as delegated proof-of-stake (DPoS). Regular cryptocurrency users have probably come across the term proof-of-stake (PoS) when dealing with crypto staking, but what is leased proof-of-stake (LPoS), and is there a connection between the two? Yes, they are related, as LPoS is simply a variant of…
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Markets

FTX hacker’s wallet stirs as Ethereum ETFs prepare for U.S. debut

Almost a year following the FTX hack that resulted in the loss of $600 million in tokens, on-chain data indicated recent activity in the wallet of the perpetrator, identified as 0x3e957, on Saturday, Sept. 30, 2023. This is occurring closely to the launch of Ethereum-based ETF in the United States. Based on on-chain data sourced from Spotonchain, the individual responsible for the FTX incident recently activated their address after a prolonged period.…
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Markets

Bitwise announces Ethereum ETF’s launch on October 2

Bitwise Asset Management has revised its spot Bitcoin Exchange-Traded Fund (ETF) application and has confirmed that trading for two Ethereum-focused ETFs will commence on October 2, 2023. This decision comes after having amended its application for the spot Bitcoin ETF. The firm has revealed that trading is scheduled to commence for the Bitwise Ethereum Strategy ETF ($AETH) and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF ($BTOP). Bitwise stated that this…
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Markets

Litecoin’s price halved in less than three months. Buying the dip is risky despite a small head and shoulders pattern forming.

Litecoin’s price halved in less than three months Buying the dip is risky despite a small head and shoulders pattern forming The dollar’s rally needs to stop for coins like Litecoin to reverse fortunes The US dollar registered one of the biggest rallies ever during summer. For example, it gained against the EUR for eleven consecutive weeks – the first time ever! It wasn’t only the EUR that the dollar strengthened against.…
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Markets

Paradigm accuses SEC of bypassing rules in Binance lawsuit

Venture capital firm Paradigm has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in its current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm stated the SEC is attempting to use the allegations in its complaint to alter the law without adhering to the established rulemaking process. Paradigm firmly believes that the SEC is exceeding its regulatory…
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Paradigm accuses SEC of bypassing rules in Binance lawsuit

Paradigm, a crypto venture capital firm, has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in their current legal action against the cryptocurrency exchange Binance. In a statement released on Friday, Sept. 29, Paradigm pointed out that the SEC is attempting to use the concerning accusations in its complaint as a means to alter the law, all without adhering to the established rulemaking process. Paradigm…
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Markets

Sam Bankman-Fried’s lawyer challenges US gov’t proposed jury questions

The lawyer representing Sam Bankman-Fried, the former CEO of the now-defunct exchange FTX, has claimed that the proposed jury questions for the upcoming fraud trial might potentially elicit biased responses. In a court filing on September 29, lawyer Mark Cohen, who is representing Bankman-Fried, contends that the jury questions presented by the US government contain loopholes that could result in an unfair trial for Bankman-Fried. “The Government’s proposed voir dire discourages full…
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Markets

Do Kwon dismisses Slack chat records as irrelevant evidence

Terraform Labs co-founder Do Kwon has refuted the significance of Slack messages as evidence, which involved discussions with his co-founder Daniel Shin about manipulating transactions on the Terra blockchain to attract investors. The United States Securities and Exchange Commission (SEC) included the Slack conversation between the two co-founders, which was dated back to September 2019, in a recent court filing. Slack message report between Do Kwon and Daniel Shin. Source: Docdroid The message…
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Markets

Crypto Biz: Kraken offers stock trading as exchanges adapt to changing regulations

Cryptocurrency exchanges are adopting alternative strategies to conduct business in the face of tighter crypto regulatory environments worldwide. Signs are everywhere. Kraken is reportedly moving to offer securities trading in the United States and the United Kingdom to expand its reach and compete with popular apps like Robinhood, which offer both crypto and stock trading. On the other hand, Gemini is expanding its presence in India with a $24 million investment in its…
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Markets

Industry leaders and policymakers weigh in on a potential US gov’t shutdown

The United States House of Representatives has rejected a bill passed on by the Senate aimed at funding the government, and Speaker Kevin McCarthy’s proposals have so far failed to gain traction with far-right lawmakers in the House — all actions suggesting that the U.S. government is heading toward at least a partial shutdown starting on Oct. 1. A U.S. government shutdown, which occurs when Congress fails to pass legislation for funding…
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Markets

Bitcoin’s inflation-hedge theory tested as rising interest rates bring turbulence to markets

The U.S. economy has been facing turbulent times lately, with the U.S. personal consumption expenditure (PCE) inflation index rising by a significant 3.5% over the past 12 months. Even when excluding the volatile food and energy sectors, it’s evident that the efforts made by the U.S. Federal Reserve to curb inflation have fallen short of their 2% target rate. U.S. Treasuries have lost a staggering $1.5 trillion in value, primarily due to…
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Markets

Pond0x DEX claims $100M in trading volume as critics allege it’s a scam

The Pond0X decentralized exchange (DEX) has reached more than $100 million in total trading volume, according to a September 28 social media post from its official channel. Investors previously lost over $2 million in the launch of the exchange’s native token, PNDX, when the coin turned out to have a transfer function that allowed anyone to transfer it without the owner’s permission. But supporters claim these losses were not the fault of…
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Markets

Chainlink quietly changes multisig rules, Mixin offers $20M bounty: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was dominated by developments in some of the OG DeFi protocols, with Uniswap Foundation announcing plans to raise $62 million in new funding and decentralized oracle service provider Chainlink brushing aside concerns about changes it made to multisignature wallets.…
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Markets

Google Cloud is now a validator on Polygon – CoinJournal

Polygon Labs has announced that Google Cloud is now a validator on Polygon PoS network. The new validator will bring “same infrastructure” powering YouTube and Gmail. Google Cloud joins recent addition Deutsche Telekom. Polygon Labs has announced that Google Cloud is now officially a validator on the Polygon PoS network. The company revealed the development in a post on X on September 29. Google Cloud joins Polygon’s validators According to Polygon Labs,…
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Markets

Georgia preparing limited live CBDC pilot, considering Ripple among tech providers

The National Bank of Georgia (NBG) has announced that it will advance its research on a digital lari central bank digital currency (CBDC) in a limited-access live pilot environment. Nine companies, including Ripple Labs, will take part in the project, and one of them will be selected to move forward to the next stage of testing. In a paper released in February, the NBG stated that it was considering a two-tier design…
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Markets

Invesco Galaxy applies for Ether spot ETF

Asset managers keep pursuing digital asset products, as Invesco and Galaxy Digital allegedly filed for a spot Ethereum (ETH) exchange-traded fund (ETF) on Sept. 29. Bloomberg ETF analyst James Seyffart disclosed the filing on X (formerly Twitter), even though the application hasn’t been uploaded to the SEC’s public database at the time of writing. Invesco Galaxy just filed for a spot Ether ETF, I think this is the 3rd of 4th one…
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Markets

Solana price outlook: bulls need to strengthen above $20

Solana (SOL) price traded to above $20.00, hitting $20.50 after bouncing off $18.40 earlier this month. Can bulls take advantage of positive sentiment for Solana to break higher? Solana price has reached a key technical level, with the 24-hour upside to $20.50 retesting a 10-day high that’s an area of a previous support and resistance. With nearly 4% increase in the past 24 hours, Solana is outperforming all the top ten cryptocurrencies…
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Markets

Costo sells out of gold bars, but is it a better investment than Bitcoin?

Costco has made headlines this week after it rapidly sold out of gold bars. In times of economic uncertainty and rising inflation, it’s no surprise that investors are turning to traditional safe-haven assets like gold. The question is whether gold’s performance will eventually catapult its price above $2,050, a level last seen in early May. In the past 12 months, the price of gold has surged by an impressive 12%. This rally…
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Markets

Bitcoin ETFs: A $600 billion tipping point for crypto

A United States appellate court directed the Securities and Exchange Commission (SEC) in August to reassess its denial of Grayscale’s application for a Bitcoin exchange traded fund (ETF). A little-noted consequence of that decision is that it could open the floodgates for $600 billion in new cash to enter the cryptocurrency market. ETFs provide investors with a regulated way to gain exposure to different asset classes, including Bitcoin (BTC). The approval of…
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Markets

Google Cloud is now a validator on the Polygon network

Polygon Labs announced on Sep. 29 that Google Cloud has joined the Polygon PoS network as a validator. Google Cloud joins more than 100 other validators verifying transactions on its L2 Ethereum network. This month, @GoogleCloud became part of the decentralized validator set for Polygon PoS. The same infrastructure used to power @YouTube and @gmail is now helping to secure the fast, low-cost, Ethereum-for-all Polygon protocol. With 100+ validators securing the Polygon…
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Markets

Price analysis 9/29: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

Bitcoin (BTC) is attempting to trade above $27,000 which is a positive sign. In the past few days, Bitcoin’s price held up above $26,000 in adverse conditions when the United States dollar index (DXY) was rising sharply and the S&P 500 index (SPX) was plunging. This suggests that selling dries up at lower levels. The decision by the United States Securities and Exchange Commission to delay the spot Bitcoin exchange-traded fund (ETFs)…
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Markets

Valkyrie backtracks on Ether futures contract purchases until ETF launch

Asset management firm Valkyrie has said it will hold out for the United States Securities and Exchange Commission (SEC) to approve an exchange-traded fund, or ETF, with exposure to Ether (ETH) futures rather than making purchases in advance. In a Sept. 29 filing with the SEC, Valkyrie said it will not make certain purchases “until the effectiveness of an amendment” reflecting ETH futures contracts as the ETF’s principal investment strategy. The firm…
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Markets

3AC’s Su Zhu arrested in Singapore

Co-founder of Three Arrows Capital (3AC) Su Zhu was arrested in Singapore when attempting to leave the country, Cointelegraph has learned from Teneo, the joint liquidator of the bankrupt hedge fund. In a statement, Teneo announced that Zhu “was apprehended at Changi Airport whilst attempting to travel out of Singapore following a committal order granted by the Singapore Courts against him.” A committal order is used to send someone to prison for…
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Markets

Memeinator Announced: Taking on the Meme Coin Market With a $1 Billion Vision – CoinJournal

London, United Kingdom, September 29th, 2023, Chainwire Having already raised $500K in less than 48 hours, Memeinator has already stormed through to stage 3 of its presale, on its relentless mission to redefine the meme coin sector. The project’s grand vision was born from the frustration of seeing relentless false promises and overhyped coins, that were endless parodies of each other replete with nonsensical messaging. These have made investors forget much of…
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Markets

Flare Blockchain integrates with Arkham’s Intelligence Platform

Flare blockchain, often known as the blockchain for data, has forged a partnership with Arkham, a leading provider of blockchain analytics and intelligence solutions. This collaboration, effective as of September 29th, brings Flare’s robust network data analysis capabilities into the fold of Arkham’s Intelligence Platform, offering a powerful suite of tools for Flare users. Flare meets Arkham’s advanced analytics Flare stands out as a unique blockchain platform, designed to optimize decentralized data…
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Markets

Gemini to halt services in the Netherlands due to regulatory challenges

Regulatory compliance issues have forced Gemini to suspend Dutch operations. Gemini is a New York-based cryptocurrency exchange. Gemini’s decision follows a similar move by Binance, which also ceased its activities in the Netherlands. Gemini, one of the leading cryptocurrency exchanges based in New York, has revealed plans to temporarily suspend its cryptocurrency services in the Netherlands. The exchange has attributed this decision to its inability to meet the stringent regulatory requirements set…
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Markets

CoinShares says US not lagging in crypto adoption and regulation

European cryptocurrency investment firm CoinShares is optimistic about cryptocurrency regulation in the United States as the firm enters the new market. On Sept. 22, CoinShares officially announced the launch of its new division, CoinShares Hedge Fund Solutions, marking the first time the firm introduce its offerings to qualified U.S. investors. CoinShares’ entrance into the U.S. market comes at a time when many U.S. crypto firms are looking at expanding their businesses outside the…
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Markets

SBI works with UAE’s TradeFinex to set up joint crypto venture in Japan

SBI Holding and TradeFinex will look to drive trade finance adoption of EVM-compatible enterprise blockchain XDC Network through a new joint venture in Japan. UAE-based firm TradeFinex operates its own decentralized platform operating on the XDC Network for trade finance originators to connect to a variety of banks and lending institutions. Aimed at enterprise use cases, TradeFinex is primarily focused on providing blockchain-based trade finance products including invoicing, letters of credit, purchase order…
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Markets

FTX’s $3.4B crypto liquidation: What it means for crypto markets

The FTX bankruptcy lawsuit reached a key juncture in the second week of September after the United States Bankruptcy Court for the District of Delaware approved the sale of $3.4 billion worth of crypto assets. The court also approved $1.3 billion in brokerage and government-recovered assets as part of the liquidation process, with $2.6 billion in cash bringing the total tally to $7.1 billion in liquid assets. Among the different cryptocurrencies set…
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Markets

Whales SHIB buying as Shiba Memu presale crosses $3.4m

Shiba Memu brings AI to the meme sector, giving it the potential to become sustainable. Investors have bought over $3.4 million of Shiba Memu as investor interest returns on Shiba Inu. Shiba Memu could benefit from AI and meme mania to follow the price trends of her peers. Meme cryptocurrencies are an exciting asset class. The interest emanates from the ability to return by triple or more digit percentages in a short…
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Markets

Binance Russia buyer tightlipped on owners but denies CZ involvement

Amid growing skepticism about CommEx — Binance’s mysterious buyer in Russia — the newly launched firm has continued denying Binance’s ownership involvement. On Sept. 29, CommEx issued an open letter to the community, reiterating that the company is not owned by Binance, which announced its exit from Russia by selling the firm to CommEx. “Although we do not disclose our UBO, we want to make it clear that we are not owned…
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Hong Kong and Macau police seize over $2.8M related to JPEX fraud case

Authorities in Hong Kong and Macau have recently revealed arrests connected to the JPEX crypto exchange fraud case and highlighted that they are currently tracking down several other suspected figures. On Sept. 29, local media outlet Radio Television Hong Kong reported that two Hong Kong men involved in the JPEX case were arrested. According to the report, the two were responsible for creating accounts in casinos based in Macau to allegedly launder…
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Markets

Bitcoin could rally towards $28k as Shiba Memu’s presale approaches $3.5m

Key takeaways The cryptocurrency market is having a positive end to the week, with prices of most coins and tokens in the green zone. Bitcoin could be heading towards the $28k level soon as market sentiment improves. Furthermore, Shiba Memu’s presale is now closing in on the $3.5 million milestone as more investors troop into the project. Bitcoin could surge towards the $28k level soon The cryptocurrency market is ending the week…
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Chancer presale keeps momentum.

Chancer nears presale sellout in stage 3 as amounts raised surpass $2.39 million. Investors are attracted to Chancer’s decentralised betting feature Chancer could rise by up to 10x in the future as P2P betting grows Betting has, for a long time, been centralised. Bookmakers control the platforms and decide betting rules and odds. However, this is changing with blockchain, with the idea of giving betting control to wagers. Chancer endeavours to become…
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Bitcoin shorts keep burning as BTC price seeks to hold $27K

Bitcoin (BTC) bounced around $27,000 on Sep. 29 as a challenge to month-to-date highs dragged BTC price action upward. BTC/USD 1-hour chart. Source: TradingView BTC price maintains overnight strength Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency attempting to hold gains after a classic “short squeeze.” The day prior offered a trip past the $27,000 mark, with Bitcoin bulls nonetheless unable to seal a fresh peak for September. Topping…
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Markets

Circle weighs in on SEC vs. Binance case, argues stablecoins are not securities

In a court filing, Circle argued that assets that are pegged to the U.S. dollar, like the Binance USD (BUSD) or its own stablecoin USDC, are not securities, partly because those who purchase the assets are not expecting any profit from acquiring them. According to Circle, payment stablecoins do not have the “features of an investment contract” on their own. Circle, the company that issued the USD Coin (USDC) stablecoin, has weighed…
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Gemini to halt operations in the Netherlands by mid-November

New York-headquartered crypto exchange Gemini has decided to quit the Netherlands, following in the footsteps of crypto giant Binance. The company cites its inability to meet the regulators’ requirements but says it intends to return to the Dutch market. In a letter to its Dutch users on Sept. 26, Gemini asks them to either withdraw their assets or transfer them to another wallet address, as by Nov. 17, the platform will suspend…
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New US bill to require firms to report off-chain transactions to CFTC

A new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to a government repository. On Sept. 28, U.S. Democrat Representative Don Beyer introduced the “Off-Chain Digital Commodity Transaction Reporting Act,” requiring trading platforms to report all transactions to a repository registered with the Commodity Futures Trading Commission (CFTC). The new legislation aims to protect cryptocurrency investors from disputes, manipulation or fraud potentially stemming from transactions occurring…
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Markets

NFT artist raises $140K for cancer support charity

A nonfungible token (NFT) artist raised nearly $140,000 ( £114,000) from an art event in Edinburgh, Scotland to support cancer treatment. Maggie’s Edinburgh — an institution dedicated to free cancer treatment — received £114,000 from Trevor Jones, a popular crypto artist from Scotland, who raised funds at a charity exhibition and auction at an annual Web3 Castle Party near Paris. According to Maggie’s Edinburgh Fundraising, the funds collected by Jones amounted to…
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French police raids Nvidia offices amid antitrust investigation: Report

Nvidia, one of the global leaders in artificial intelligence (AI) chip production with headquarters in California, reportedly faced a police raid in its French offices this week. The action came as a part of a general inquiry of French antitrust authorities into the cloud computing sector. On Sept. 28, the Wall Street Journal reported the raid, although neither Nvidia nor the French enforcement agencies have officially commented on what happened. A press release…
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Kresus teams up with Collectibles.com as preferred crypto wallet partner

Collectibles.com is gearing up for its much-anticipated launch. Collectibles.com is a Web3 collectibles marketplace that allows collectors to buy, sell, and trade assets. Kresus Collectibles.com partnership makes Kresus the preferred wallet solution for Collectibles.com collectibles. In a strategic move set to reshape the world of collectibles and blockchain technology, leading app developer Kresus has announced its partnership with Collectibles.com, a Web3 collectibles marketplace that is set to launch in October. Kresus, renowned…
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Epic Games lays off 830 staff, citing ‘unrealistic’ metaverse ambitions

Epic Games, the company behind Fortnite, has slashed 16% of its workforce — approximately 830 staff — after unrealistic expectations of metaverse-inspired revenue caused it to spend “way more” money than it had been earning. “We concluded that layoffs are the only way and that doing them now and on this scale will stabilize our finances,” wrote CEO Tim Sweeney in a Sept. 29 memo sent to Epic Games staff. “I had…
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Markets

Crypto price prediction: Memeainator (MMTR), Chainlink, WorldCoin

Memeainator raised more than $300k a few days after starting its token sale. WorldCoin token surged as the developers increased their focus on emerging markets. Chainlink gained traction as demand for its tokenizatioon products rose. Cryptocurrency prices had a strong performance this week as they defied the gravity we saw in other assets like stocks and bonds. Bitcoin price jumped to over $27,000 even as the Russell 2000 index moved to the bear…
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Markets

How long could Sam Bankman-Fried go to jail for?

FTX founder Sam Bankman-Fried, once described as the “golden boy” of crypto, is set to stare down a jury next week for his role in the collapse of his $32 billion crypto exchange. After a jury selection process on Oct. 3, the trial begins in earnest on Oct. 4, with Bankman-Fried staring down seven charges. If found guilty on all counts, he faces a maximum sentence of 115 years in prison. However,…
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Markets

FTX founder Sam Bankman-Fried criminal trial schedule revealed

Former FTX CEO Sam Bankman-Fried will spend at least 21 days in court as part of his criminal trial, which will begin in earnest on Oct. 4 and last until Nov. 9, according to a newly released trial calendar posted to the public court docket. The burgeoning trial calendar, released on Sept. 28, begins on Oct. 3 with jury selection. The first official date of the Bankman-Fried trial is Oct. 4, where they…
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Markets

Ether the Ether: VanEck releases two ETF ads ahead of possible Monday launch

Investment manager VanEck has fired up the marketing engine for its “upcoming” Ethereum futures exchange-traded fund (ETF), which some analysts expect could be launched as early as Oct. 2. On Sept. 28, VanEck released the two “Enter the Ether” themed TV commercials, revealing that its Ethereum Strategy ETF — tickered EFUT — is “coming soon.” AI, AI, Uh Oh! Follow for updates on how to Enter the Ether. pic.twitter.com/wM69nVtbWC — VanEck (@vaneck_us)…
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Markets

The metaverse is real: Zuck’s ‘incredible’ photorealistic tech wows crypto twitter

While critics have been busy writing eulogies for Meta’s metaverse dream over the last few years, Mark Zuckerberg’s latest demonstration of its photorealistic avatars shows it could be pretty far from dead after all. Appearing on a Sept. 28 episode of the Lex Fridman podcast, Zuckerberg and the popular computer scientist engaged in a one-hour face-to-face conversation. Only, it wasn’t actually in person at all. Instead, the entirety of Fridman and Zuckerberg’s…
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Markets

China dev fined 3 yr’s salary for VPN use, 10M e-CNY airdrop: Asia Express

Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese worker fined $145K over VPN An unnamed individual in China was fined 1.06 million Yuan ($144,907) for using a virtual private network (VPN) to access restricted websites as part of a remote work routine for a foreign employer. According to local mediareportsearlier this week, during his employment as a consultant between 2019 to 2022 the unnamed individual…
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Markets

SEC delays spot Bitcoin ETF decision for BlackRock, Invesco and Bitwise

The United States securities regulator has delayed the decision on several spot Bitcoin exchange-traded fund (ETF) proposals, including BlackRock, ahead of an anticipated government shutdown. Invesco, Bitwise and Valkyrie are the other three firms that were hit with delays by the Securities Exchange Commission in separate Sept. 28 filings. Bloomberg ETF analyst James Seyffart is also expecting the applicants of Fidelity, VanEck and WidsomTree to be pushed back by the securities regulator. ANOTHER: @BlackRock…
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Markets

Exchanges federation touts crypto trading regulation, integration with TradFi

The World Federation of Exchanges (WFE) sees the potential for crypto-asset trading platforms (CTPs) to play a larger role in the “real” economy and society at large. It had some blunt observations about CTPs and suggestions for regulators in a paper released Sept. 28. “CTPs should welcome a degree of regulation as a mean[s] to bolster the appeal of their markets,” the WFE wrote. It suggested six principles for regulating CTPs. The…
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Markets

3 reasons why Bitcoin miners are selling BTC — and why it’s not capitulation

Crypto analysts, traders and anonymous influencer Bitcoin pundits on X (formerly known as Twitter) frequently interpret what Bitcoin miners do with their block rewards as a sentiment gauge for where BTC price might go. According to the strategy, Bitcoin miner rewards sent to exchanges foreshadows pending sell pressure on Bitcoin price and possibly reflects distress among miners. Elements of this methodology were challenged by an assortment of publicly listed Bitcoin miners at…
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Markets

Valkyrie will offer exposure to Ether futures as SEC delays spot Bitcoin ETF

Asset management firm Valkyrie will begin offering exposure to Ether (ETH) futures to United States investors through its existing Bitcoin Strategy exchange-traded fund, or ETF. A Valkyrie spokesperson told Cointelegraph on Sept. 28 that the firm’s Bitcoin (BTC) Strategy ETF will allow investors access to ETH and BTC futures “under one wrapper”, making it one of the first firms to do so amid several pending applications with the U.S. Securities and Exchange…
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Markets

DAOs need to learn from Burning Man for mainstream adoption

As they exist today, decentralized autonomous organizations (DAOs) will not scale to the masses. Sure, shining examples like PleasrDAO, Uniswap DAO, Synthetix’s group of DAOs, and Maker DAO exist, thriving in their respective niches. Still, none of these have gotten anywhere close to being household names. Why, you might ask? Related: Cybernetic organizations — BORGs — are doomed to fail They’re too crypto. Three of these four are protocol DAOs, driving the…
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Markets

Ripple pulls back from Fortress acquisition 20 days after announcement

Within 20 days of announcing the acquisition of Fortress Trust to allegedly expand its pool of licenses in the United States, financial technology firm Ripple is pulling out of the deal. Ripple’s CEO Brad Garlinghouse made the announcement on X (formerly Twitter) on Sept. 28, saying that “we’ve since made the decision not to move forward with an outright acquisition,” although Ripple will remain a shareholder in Fortress Trust’s parent company Fortress…
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Markets

PayPal applies for NFT marketplace patent for on-chain or off-chain asset trading

PayPal made major progress toward the creation of its own blockchain ecosystem with the filing of a patent application for a nonfungible token (NFT) purchase and transfer system. The application, filed in March and published Sept. 21, describes a means of carrying out transactions with NFTs, both on- and off-chain. The patent application, which is still pending, describes a system where a user can buy and sell NFTs through a third-party service…
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Markets

Maker (MKR), THORChain (RUNE) skyrocket; Bitcoin takes $27k again – CoinJournal

Maker (MKR) and THORChain (RUNE) prices rose sharply as Bitcoin retested $27k. MKR could spike towards $2k while RUNE eyes buy-side liquidity above $2.01 The cryptocurrency market flipped higher on Thursday, with gains for Bitcoin (BTC) and most altcoins sending the total market cap up by 3.1% as at the time of writing. BTC traded above $27k again, benefiting from overall positivity in risk asset markets. With stocks also edging higher following…
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Markets

Google and Microsoft-backed AI firm AlphaSense raises $150M at $2.5B valuation

AlphaSense, a B2B artificial intelligence (AI) platform specializing in business intelligence and search, announced the successful completion of a $150 million Series E funding round led by BOND and joined by Google parent company Alphabet’s investment arm, CapitalG, as well as Goldman Sachs and Viking Global. The latest round saw the company’s valuation grow from $1.7 billion, its value upon raising $225 million during its Series D in June of 2023, to…
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Markets

Buenos Aires to issue blockchain-based digital ID

Buenos Aires, the capital of Argentina, is making a major move toward integrating its bureaucracy with blockchain technology. Starting in October, the city’s 15 million residents can access identity documents via a digital wallet, according to an announcement on Sept. 28. The first documents to be available on-chain include birth and marriage certificates, along with proof of income and academic verification. The announcement notes that health data and payment management will be…
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Markets

NTT DATA to deploy a Horizen EON blockchain Certificate Signer Node

Key takeaways NTT DATA is deploying a Horizen EON blockchain Certificate Signer Node on the NTT DATA infrastructure. The node will help secure the Horizeon EON network. NTT DATA deploys a Horizen EON node The Horizen team announced in a blog post on Thursday, September 28th, that NTT DATA, a leading IT service provider and global innovation partner, is deploying a Horizen EON blockchain Certificate Signer Node on the NTT DATA infrastructure. The…
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From Europe to Global: CAIZ’s IFBA Innovation Now Operates in 99 Countries – CoinJournal

Bratislava, Date – CAIZ, the first fiqh-compliant blockchain ecosystem, is once again attracting major attention by publicly announcing its new global reach. The Islamic Federated Byzantine Agreement (IFBA), an innovative consensus mechanism designed by CAIZ, has effectively extended its footprint over 99 nations, marking an important turning point and a milestone for the entire cryptocurrency world. Consensus building and mechanisms among decentralized nodes continue to be an ongoing challenge in the expanded…
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Markets

Here’s what the U.S. government shutdown may mean for Bitcoin

James Butterfill expects Bitcoin to rally if the U.S. government shuts down. BTC has a history of performing quite well in times of uncertainty. The world’s largest cryptocurrency is already up close to 4.0% today. Bitcoin will likely rally if the U.S. government does indeed shut down on October 1st, says James Butterfill – the Head of Research at CoinShares. Why may BTC rally on shutdown? The world’s largest cryptocurrency by market…
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Median Web3 developer salary stands at $128K in 2023

A typical Web3 developer has a median salary of $128,000 in 2023. According to a recent survey by Pantera Capital, the highest Web3 engineer salaries were reported in North America at $166,610, followed by $102,226 in Europe, Middle East and Africa, $90,559 in Latin America, and $75,000 in the Asia Pacific Region. The survey featured over 1,600 respondents across 77 countries; 40.1% of respondents worked in the decentralized finance (DeFi) sector, followed…
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TradFi: 11 things to do when considering adding digital assets

As digital asset options continue to gain attention and acceptance from investors, traditional financial institutions may be considering adding digital assets to their offerings and/or portfolios. As with any other industry, “standing still” isn’t an option in the financial sector, and tapping into the potential of digital assets can help TradFi organizations tap into an enthusiastic and growing new customer base. Further, adding digital assets can diversify a traditional portfolio, offering a…
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Markets

Bitcoin to $27K next? One-week BTC price highs precede Fed’s Powell

Bitcoin (BTC) hit new weekly highs after the Sep. 28 Wall Street open as markets awaited fresh cues from the United States Federal Reserve. BTC/USD 1-hour chart. Source: TradingView Bitcoin summons volatility ahead of Powell speech Data from Cointelegraph Markets Pro and TradingView showed BTC price strength staging a comeback on the day, having delivered what some referred to as a classic “pump and dump” 24 hours prior. During that performance, highs of…
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Markets

Judge denies final pre-trial request from Sam Bankman-Fried for temporary release

Former FTX CEO Sam Bankman-Fried (SBF) will remain in jail at least until the start of his Oct. 3 criminal trial following an order from a federal judge. According to multiple reports on a Sept. 28 hearing in United States District Court for the Southern District of New York, Judge Lewis Kaplan denied a motion from SBF’s legal team requesting the former FTX CEO be given temporary release in order to prepare…
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Tottenham Hotspur to issue a Web3 fan token using Chiliz Blockchain

Tottenham Hotspur embraces blockchain technology, partnering with Chiliz for a Web3 fan token. Fans can participate in on-chain voting and enjoy club-related rewards with the upcoming $SPURS fan token. Stricter regulations from the FCA in the UK prompt disclaimers on fan token offerings, ensuring compliance and transparency. Tottenham Hotspur has entered the world of blockchain technology by announcing its plan to issue a Web3 fan token, making it the first Premier League…
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