• Markets

    Litecoin’s Hashrate Reaches All-Time High, Difficulty Follows Suit – Altcoins Bitcoin News

    The blockchain network Litecoin’s computational power reached an all-time high (ATH) on Wednesday, Jan. 25, 2023, at block height 2,411,048, reaching 798.43 terahash per second (TH/s). In addition, Litecoin’s difficulty also reached an all-time high this week, hitting 23,505,031 the following day. Litecoin’s Computational Power Climbs 38% in 30 Days A significant amount of hashrate has been dedicated to the Litecoin (LTC) network over the last 30 days as the blockchain’s computational…

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  • Markets

    Biggest Movers: DOGE up to 6-Week High, as AVAX Jumps 13% on Saturday – Market Updates Bitcoin News

    Dogecoin rose to a six-week high on Saturday, as prices rose above a key resistance level to start the weekend. The meme coin climbed to its strongest point since December, as the global crypto market cap was mostly in the green in today’s session. Avalanche also surged today, hitting its strongest point since August. Dogecoin (DOGE) Dogecoin (DOGE) was one of Saturday’s most notable movers, as prices rose to their highest point…

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  • Markets

    Floki price surges amid proposal to burn 4.97 trillion FLOKI

    Floki Inu will burn 4.97 trillion FLOKI tokens worth over $55 million if the DAO vote passes. The meme coin project is also looking to cut transaction tax from 3% to 0.3% and permanently disable the cross-chain bridge. The price of FLOKI rose 25% early Saturday to hit its highest level since August. Floki Inu (FLOKI) holders are voting on a major governance proposal that could see the meme cryptocurrency burn millions…

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  • Markets

    Genesis Capital’s fall might transform crypto lending — not bury it

    Is crypto lending dead, or does it just need better execution? That’s a question asked with more urgency in the wake of Genesis Global Capital Jan. 19 bankruptcy filing. That, in turn, followed the demise of other prominent crypto lenders, including Celsius Network and Voyager Digital in July 2022, and BlockFi, which filed for Chapter 11 bankruptcy protection in late November 2022. Unlike many traditional creditors, like banks, cryptocurrency lenders aren’t required…

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  • Markets

    US gov’t $1.5T debt interest will be equal 3X Bitcoin market cap in 2023

    Bitcoin (BTC) bulls do not need to wait long for the United States to start printing money again, commentators believe. The latest analysis of U.S. macroeconomic data has led one market strategist to predict quantitative tightening (QT) ending to avoid a “catastrophic debt crisis.” Analyst: Fed will have “no choice” with rate cuts The Federal Reserve continues to remove liquidity from the financial system to fight inflation, reversing years of COVID era…

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  • Markets

    Bitcoin, Ethereum Technical Analysis: BTC Hovers Near $23,000 to Start the Weekend – Market Updates Bitcoin News

    Bitcoin started the weekend hovering near $23,000, as markets continued to react to personal consumption data in the United States. Figures released on Friday reported that spending fell by 0.2% last month, despite overall consumer sentiment moving higher. Ethereum remained close to $1,600 to start the day. Bitcoin Bitcoin (BTC) remained close to the $23,000 level on Saturday, as markets continued to react to Friday’s U.S. personal consumption data. Following a high…

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  • Markets

    Sao Paolo Introduces Blockchain in Data Access Law – Regulation Bitcoin News

    The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law. The concept of blockchain is defined as a technology that can be of use in this field, but the city has not defined the structures or the implementation for its use in the future. Sao Paolo Law Introduces Concept of Blockchain Little by little, more use cases of blockchain, part of the…

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  • Markets

    IRS reminds taxpayers of crypto income reporting ahead of 2022 filing

    With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of U.S. federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies. Until 2021, the IRS used the term ‘virtual currencies’ in income tax-related reporting forms, which have been updated to ‘digital assets.’ All US citizens must answer questions about cryptocurrencies “regardless of whether…

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  • Markets

    Bitcoin ‘so bullish’ at $23K as analyst reveals new BTC price metrics

    Bitcoin (BTC) remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools. Garner: BTC price signals should excite bulls While BTC/USD attempts to push through liquidity above $23,000, the debate rages as to whether a significant BTC price correction is due.…

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  • Markets

    Ban on Crypto Mining in Residential Areas Proposed in Russia – Mining Bitcoin News

    Advisors to the Kremlin have suggested that home crypto mining should be banned in Russia, or in some of its regions. The stated motive for the proposal is to prevent fires in residential buildings. Amateur miners have been blamed for high loads on the grid causing breakdowns and blackouts. Energy Experts Want to Prohibit Mining Cryptocurrency in Russian Homes The Energy Committee of the State Council, an advisory body to the Russian…

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  • Markets

    DOJ seeks Bankman-Fried ban for alleged witness influence

    US prosecutors argue that Sam Bankman-Fried tried to influence Ryne Miller, the General Counsel of FTX US. The former FTX CEO allegedly contacted Miller through encrypted instant messaging platform Signal and via email. The prosecution seeks to have SBF banned from using Signal or other apps and not to contact any former employees of FTX and Alameda. The US Department of Justice (DOJ) has asked for a communications ban on Sam Bankman-Fried…

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  • Markets

    CZ predicts ‘existential implications’ for anti-crypto traditional finance

    As traditional institutions proactively reduce exposure to cryptocurrencies as a reaction to ecosystem collapses in 2022, Binance CEO Changpeng ‘CZ’ Zhao believes this move could potentially have a negative impact on such traditional financial players. The collapse of major crypto platforms, such as FTX and Terraform Labs, not only reduced trust among investors but also forced the traditional market to reevaluate their strategies for stepping into the crypto ecosystem. While the reluctance…

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  • Markets

    Matrixport Joins Growing List of Crypto and Blockchain Companies Letting Employees Go – Bitcoin News

    The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company’s staff, according to reports published on Friday. Matrixport’s COO, Cynthia Wu, cited a “shift in the regulatory climate” and “industry-wide capitulations” as reasons for the layoffs. Matrixport Lays Off 10% of Staff as Crypto Winter Continues Jihan Wu’s Matrixport is letting go of 10% of the firm’s employees, according to multiple reports on Jan.…

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  • Markets

    White House cryptocurrency ‘roadmap’ recommends against pension funds

    The White House released a statement on Jan. 27 that provided the United States President Joe Biden administration a roadmap for mitigating risks associated with cryptocurrencies. Much of the document was addressed to the U.S. Congress with the administration’s legislative guidance. The authors of the statement outlined a two-pronged path forward. They wrote: “We have spent the past year identifying the risks of cryptocurrencies and acting to mitigate them using the authorities…

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  • Markets

    US prosecutors seek to ban SBF from Signal after alleged witness contact

    Federal prosecutors have requested that former FTX CEO Sam Bankman-Fried’s (SBF) bail conditions are modified to prevent further alleged attempts at influencing witnesses’ testimonies.  Court documents filed on Jan. 27 revealed that The Department of Justice (DOJ) have asked U.S. District Court Judge Lewis Kaplan to ban Bankman-Fried from communicating with “current or former employees” of FTX or Alameda. The prosecutors have requested this after they alleged that Bankman-Fried had reached out…

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  • Markets

    US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

    The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the crypto sector and ensure America is the place for fintech and blockchain innovation. “We want a regulatory framework that’s transparent for developers, investors, and potential consumers,” the lawmaker emphasized. US Lawmaker Shares Priorities on Crypto Regulation U.S. Congressman French Hill (R-AR), who was recently appointed chairman of the newly formed subcommittee on…

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  • Markets

    Silvergate suspends dividends to preserve ‘highly liquid balance sheet’

    California-based crypto bank Silvergate has suspended dividend payouts to preserve its “highly liquid balance sheet.” In a Jan. 27 announcement, the firm stated that it is halting “the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order to preserve capital.” The company outlined that it made the decision so that it can weather the storm of crypto winter, but did stress that it still maintains…

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  • Markets

    SEC Commissioner Calls for ‘Consistent Legal Framework’ for All Asset Classes, Including Crypto – Regulation Bitcoin News

    A commissioner with the U.S. Securities and Exchange Commission (SEC) has called for “a coherent and consistent legal framework that works across all asset classes,” including crypto assets. She warned that the SEC’s current enforcement-centric approach would take 400 years to go through all the crypto tokens that are allegedly securities. SEC’s Commissioner on Crypto Regulation A commissioner with the U.S. Securities and Exchange Commission (SEC), Hester Peirce, talked about crypto regulation…

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  • Markets

    Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year – Markets and Prices Bitcoin News

    Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank’s list as the asset with the highest risk-adjusted return — above gold, real estate, the S&P 500, and the Nasdaq 100. Bitcoin Outshines Other Investments on Goldman’s Chart Global investment bank Goldman Sachs has reportedly ranked bitcoin the best-performing asset year-to-date (YTD). The Twitter account Documenting Bitcoin tweeted earlier this week: Bitcoin…

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  • Markets

    California DMV to digitize car title management system via Tezos

    The California Department of Motor Vehicles (DMV) is testing out the digitization of car titles and title transfers via a private Tezos blockchain. The move is part of a collaboration between the California DMV, Tezos and blockchain software firm Oxhead Alpha, with the latter announcing t successful proof-of-concept on Jan. 25. The California DMV has tapped Oxhead Alpha to build on a private Tezos testnet that it has dubbed a “shadow ledger.”…

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  • Markets

    Is Silvergate stock a buy after it suspended preferred stock dividend

    Silvergate Capital Corp suspends dividend on its preferred stock. Wedbush Securities analyst reiterates his neutral rating on “SI”. Silvergate stock is currently down over 85% since mid-August. Silvergate Capital Corp ended 5.0% down on Friday after the crypto bank suspended dividend on its preferred stock. Silvergate is trying to preserve capital The embattled digital currency services company is cutting back on the payout to preserve capital. Its press release reads: This decision reflects…

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  • Markets

    Global Digital Cluster Coin (GDCC) Is Now Available on LBank Exchange – Press release Bitcoin News

    press release PRESS RELEASE. LBank Exchange, a global digital asset trading platform, has listed Global Digital Cluster Coin (GDCC) on January 27, 2023. For all users of LBank Exchange, the GDCC/USDT trading pair is now officially available for trading. With its new-age protocol and peer-to-peer network, Global Digital Cluster Coin (GDCC) restructures the concept of money and assets with cutting-edge technologies that have the potential to transform various industries and allow people…

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  • Markets

    California DMV Is Putting Its Titles on the Blockchain – Blockchain Bitcoin News

    The Department of Motor Vehicles (DMV) in California is running a project to digitize all of its titles and put them on a blockchain. The project, which will use the Tezos blockchain and has the assistance of Oxhead Alpha, a crypto dev company, aims to allow users to transfer titles as NFTs in the future. Innovation Comes to the DMV in California The Department of Motor Vehicles (DMV) in California is working…

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  • Markets

    Total crypto market cap rises above $1T, and data suggests more upside is in store

    Despite the recent negative crypto and macroeconomic newsflow, the total cryptocurrency market capitalization broke above $1 trillion on Jan. 21. An encouraging sign is that derivatives metrics are not showing increased demand from bearish traders at the moment.  Total crypto market cap in USD, 1-day. Source: TradingView Bitcoin (BTC) price gained 8% on the week, stabilizing near the $23,100 level at 18:00 UTC on Jan. 27 as the markets weighed the potential…

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  • Markets

    Fed policy to align bank oversight could limit crypto activities by state banks

    The United States Federal Reserve Board announced Jan. 27 that it was issuing a policy statement on limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen by the Office of the Comptroller of the Currency (OCC), by allowing them the same scope of permissible activities. The new policy…

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  • Markets

    Hive Ransomware Network Dismantled by American, European Law Enforcement – Bitcoin News

    Law enforcement authorities from over a dozen countries in Europe and North America have taken part in disrupting the activities of the Hive ransomware group, the U.S. Justice Department and Europol announced. Hive is believed to have targeted various organizations worldwide in the past couple of years, often extorting payments in cryptocurrency. Captured Decryption Keys Helped Hive Victims Avoid Paying $130 Million in Ransom Ransomware network Hive, which has had around 1,500…

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  • Markets

    5 reasons why the Aptos (APT) rally could still have wings

    Aptos’ APT reached a new all-time high of $20.39 after posting gains exceeding 400% since the start of 2023. While the rally could just be a pump-and-dump event due to the perception of weak fundamentals, increasing negative sentiment toward the token will likely fuel the prices in the short term. Let’s explore some of the factors that could be propelling the Aptos price rally. A rich history and strong investor backing Aptos…

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  • Markets

    Aave deploys V3 on Ethereum after 10 months of testing on other networks

    The third version of crypto lending app Aave has now been deployed to Ethereum for the first time, according to a Jan. 27 tweet thread from the Aave team. “Aave V3” was originally released in March 2022, and it was deployed on multiple Ethereum Virtual Machine (EVM)-compatible blockchains shortly afterward. Until now, Ethereum users only had access to the app’s older “V2” version. Aave Protocol V3 is now live on the Ethereum…

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  • Markets

    Price analysis 1/27: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

    After two weeks of a stupendous rally, Bitcoin’s (BTC) price has largely been flat this week. This is a positive sign as it shows that market participants are not growing nervous before a slew of central bank meetings take place next week. The United States Federal Reserve, European Central Bank and Bank of England are scheduled to announce their policy decisions next week. The confidence of the bulls received another boost after…

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  • Markets

    New Ripple president says her job is to continue to scale amid crypto winter

    Monica Long has been named the new president of Ripple, moving up from the general manager position. Long joined the company in 2013 as director of communications and expanded her role last year from general manager of RippleX, the blockchain development side of the business, to general manager of the company as a whole, adding RippleNet, the company’s financial network, to her purview. The presidency of Ripple has been a somewhat nebulous…

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  • Markets

    TradFi and DeFi come together at Davos 2023: Finance Redefined

    Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Traditional finance, or TradFi, continues to explore the world of cryptocurrencies and blockchain technology, with the World Economic Forum holding more workshops and sessions for the sector in 2023. Layer-1 blockchain protocol, Injective, has launched a $150 million ecosystem fund to support developers building on the…

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  • Markets

    New York Assembly introduces crypto payments bill for fines, taxes

    A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees and other payments charged by the state. JUST IN: A New York Senate has introduced a bill to allow #Crypto as a form of payment — Interpret Crypto (@interpretcrypto) January 27, 2023 New York State Assembly Bill A523 was introduced by Democratic…

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  • Markets

    FTX Lawyers Attempt to Question Bankman-Fried’s Family and Inner Circle for Financial Insight – Bitcoin News

    According to court documents in the FTX bankruptcy case, the company’s attorneys seek to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, and his parents, Joseph Bankman and Barbara Fried. Additionally, the attorneys intend to question some of Bankman-Fried’s top deputies, including FTX co-founder Gary Wang, ex-Alameda Research CEO Caroline Ellison, the former chief operating officer Constance Wang, and the exchange’s former director of engineering Nishad Singh. FTX Attorneys Push for…

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  • Markets

    Opinion: 3 tips for trading Ethereum this year

    Cryptocurrency is a notoriously volatile industry, regardless of what coin you’re trading. During periods of extreme volatility, it’s easy to become disheartened when trades don’t go your way. It’s also easy to become overconfident when you get lucky, falsely attributing it to your trading strategy — when, in reality, the price often rose or fell for reasons other than you assumed. Despite the uncertainty, there are sometimes still strategies you can use…

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  • Markets

    Crypto Biz: A peek into BlockFi’s secret financials (it’s not pretty)

    Crypto lender BlockFi has had a highly tumultuous 12 months. After getting caught up in the Terra fiasco, which resulted in one of the most prolific asset death spirals of all time, the company managed to avoid bankruptcy after receiving a $400 million lifeline in July 2022. The problem? Its lender was FTX US, and we all know what happened next. Although BlockFi has attempted to separate itself from Sam Bankman-Fried’s fraud…

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  • Markets

    Moody’s reportedly building a stablecoin scoring system

    Moody’s wants to build a scoring system for stablecoins as the market grows amid increased regulatory attention. The system will provide an rating system for the top stablecoins based on quality of their reserve attestations. The leading stablecoins by market cap today are Tether (USDT), USD Coin (USD) and Binance USD (BUSD). Moody’s Corporation, a leading global credit-ratings company, is reportedly developing a scoring system for the stablecoin industry. A report by…

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  • Markets

    Bitcoin will hit $200K before $70K ‘bear market’ next cycle — Forecast

    Bitcoin (BTC) has “well-formed” evidence, which suggests that its next all-time high will top out at $200,000, one analyst says. In a tweet on Jan. 27, popular Twitter commentator Trader Tardigrade, also known as Alan, also revealed $70,000 as the next potential bear market bottom. Stochastic indicator offers Bitcoin bulls historical firepower For many, BTC price action is still bound by Bitcoin’s four-year halving cycles. The resulting price pattern offers one “all…

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  • Markets

    Solana DeFi project Friktion shuts down its user platform

    Solana decentralized finance (DeFi) platform Friktion is shutting down its user interface and urging customers to withdraw their assets from the protocol, according to a statement on Jan. 26.  The project’s website will no longer deliver the same services, operating in a withdrawal-only mode for all Volts and making deposits unavailable. Friktion’s Volts are structured products for DeFi investments that allow investors to earn a share of the revenue of investment pools,…

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  • Markets

    “We’re on the Right Highway” How Metaspins Crypto Casino Is Growing Rapidly Weeks After Its Launch – Press release Bitcoin News

    press release PRESS RELEASE. Three months since announcing its launch, Metaspins.com is rapidly flying into the crypto space. The new crypto casino offers players 100% crypto gameplay, a selection of over 2,500 games, and plenty of promotions which will keep its growing audience asking for more. With quick signups and instant withdrawals an important part of its product offer, Metaspins supports numerous top cryptocurrencies such as BTC, ETH, LTC and many more.…

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  • Markets

    The state of Solana: will the layer-1 protocol rise again in 2023?

    Despite the latest FTX-related crisis, Solana still has what it takes to win the layer-1 race, according to the head of strategy at the Solana Foundation, Austin Federa. Source link

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  • Markets

    Crypto Asset Aptos Soars to All-Time High, Increasing 391% in 30 Days – Altcoins Bitcoin News

    During the past 30 days, the layer one blockchain asset aptos (APT) has risen 391.8% against the U.S. dollar. In the past seven days, Aptos has increased 123.7% after reaching an all-time high of $19.92 per unit on Jan. 26, 2023. The Role of Decentralized Finance, Infrastructure Support, and NFTs in Aptos’ Recent Surge in Value A relatively new cryptocurrency, aptos (APT), reached an all-time high on Thursday when the token hit…

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  • Markets

    60% of institutional investors bullish on Ethereum in 2023

    60% of respondents are convinced Ethereum will a better investment in 2023.  Bitcoin is also seen as one with huge potential, while other coins attracting institutional investors are Polkadot, Cardano and XRP. Speculative interest and exposure to distributed ledger technology are main reasons for increased interest. Ethereum is the second largest cryptocurrency by market cap, with its market worth nearly $190 billion.  While it remains behind Bitcoin, whose market cap as of…

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  • Markets

    Fed denies Custodia Bank application to join the Federal Reserve System

    The Federal Reserve Board has rejected Custodia Bank’s application to become a member of the Federal Reserve System. In its announcement, the Fed stated that the application was “inconsistent with the required factors under the law.” It also claimed Custodia had an “insufficient” management framework and cited an earlier joint declaration by the Fed with the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency that found crypto assets…

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  • Markets

    Biggest Movers: MATIC Nears 3-Month High, as LINK Extends Recent Gains – Market Updates Bitcoin News

    Polygon rose to its highest level since early November on Friday, as markets reacted to the latest U.S. consumer sentiment data. Sentiment rose to 64.9 in January, up from a reading of 59.7 in December. Chainlink also surged in today’s session, hitting its strongest point in nearly two months. Polygon (MATIC) Polygon (MATIC) was a big gainer on Friday, as prices rose to their highest point in 11 weeks. Following a low…

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  • Markets

    Silvergate suspends payment of dividend on preferred stock

    Crypto-friendly bank Silvergate announced its suspended payment of dividends on its series A preferred stock. The company’s shares fell more than 11% pre-market after the announcement. Silvergate reported a $1 billion loss in the fourth quarter and also cut its staff by 20% amid the crypto bear market and impact of FTX collapse. Silvergate, a crypto-friendly bank that’s lately hit a rough stretch following the collapse of crypto exchange FTX, has suspended…

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  • Markets

    Leading digital wealth platform Yield App acquires Trofi Group

    Yield App is a digital wealth platform that offers safe custody of digital assets. The platform allows customers to exchange and earn on their assets at market-leading rates. The acquisition adds structured products to the Yield Apps product suite. Digital wealth management platform Yield App yesterday announced it has acquired Trofi Group, a platform that offers structured solutions for cryptocurrencies. The acquisition brings four new structured products to the Yiled App product…

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  • Markets

    Bitcoin Difficulty Set to Rise 3.82% to All-Time High of 39 Trillion Following Recent Increase – Mining Bitcoin News

    The Bitcoin network is set to record another meaningful difficulty increase on Sunday, Jan. 29, 2023, as current estimates expect it to rise 3.82% higher. The change follows the last difficulty retarget, which advanced by 10.26% to the current all-time high of 37.59 trillion. Block Time Breakdown: How Faster Discovery is Impacting Bitcoin Difficulty In just over a day, the Bitcoin network will see a difficulty increase of around 3.82%, according to…

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  • Markets

    Litecoin ‘head fake’ rally? LTC price technicals hint at 65% crash

    Litecoin (LTC) has rebounded by 130% to almost $100 after bottoming out near $40.50 in June 2022. The primary reasons include broadly improving risk-on sentiment and euphoria around the Litecoin halving in August 2023. However, technicals suggest that LTC may wipe out most of these gains in the coming months. LTC price paints giant bear flag  Litecoin stands to pare its gains mainly due to a giant bear flag on the weekly…

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  • Markets

    Here’s how the World Economic Forum leaps into the metaverse —Davos 2023

    Web3 and the metaverse were handed a seat at the table of the World Economic Forum in 2023 as the ecosystem continues to drive innovation across industries. As Cointelegraph continues to explore, the presence of the cryptocurrency and blockchain ecosystem was mainly found outside the walls of the WEF. Blockchain Hub Davos and GBBC’s Blockchain Central were two central events in town that brought together the wider crypto community that has been…

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  • Markets

    Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of US Consumer Sentiment Data – Market Updates Bitcoin News

    Bitcoin consolidated on Friday, as traders prepared for the release of the upcoming consumer sentiment figures from the United States. Following a move to a five-month high on Thursday, prices were once again below $23,000. Ethereum also slipped, moving below $1,600 in the process. Bitcoin Bitcoin (BTC) fell back below $23,000 on Friday, as markets consolidated ahead of U.S. consumer sentiment data. BTC/USD slipped to a bottom of $22,654.59 earlier in today’s…

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  • Markets

    Creating self-sovereignty in the creator economy and Web3 — Is there room for both?

    On this week’s episode of NFT Steez, hosts Alyssa Exposito and Ray Salmond meet with Web3 content writer Julie Plavnik to discuss the importance of self-sovereignty while building a digital identity in Web3.  Plavnik referenced author Gavin Wood when describing Web3 and said that “communication” is a core tenant in the subsequent iteration of the internet. “Web3 is the communication of encrypted channels between decentralized identities,” Plavnik affirmed. According to Plavnik, the…

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  • Markets

    Polygon’s Gains Network DEX volume crosses $1.5B as Polygon price reclaims $1

    At press time, Polygon (MATIC) was trading at $1.09, up 8.93% in 24 hours. Gains Network DEX was initially released on Polygon before being deployed on Arbitrum. The Gains Network DEX has greatly contributed to the recent rising transactional activity on Polygon. The price of Polygon (MATIC) has been steadily rising in recent weeks and it has regained the $1.0 level as the broader crypto market continues to recover. In addition to…

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  • Markets

    Can Metacade Lead a Bear Market Rally?

    After the madness of the 2021 bull run, the crypto winter really hit hard in 2022, with difficulty saying how long it will continue. Experienced investors know that while interest in crypto may be a little lower, bear markets are actually the perfect time to accumulate strong projects with utility in order to make the most of the next bull run. Even in bear market conditions, there are still gains to be made in…

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  • Markets

    FTX lawyers to reap millions from the bankruptcy case: Report

    Controversial law firm Sullivan & Cromwell is on track to reap a fortune from its work on the bankruptcy case of the FTX cryptocurrency exchange, according to a new report. Sullivan & Cromwell’s costs in the FTX case are estimated to reach hundreds of millions of dollars before the firm’s bankruptcy investigation is over, Bloomberg Law reported on Jan. 27. As the FTX trial is scheduled for October 2023, the firm’s lawyers…

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  • Markets

    How to Give Bitcoin or Another Cryptocurrency as a Gift Using BitCard – Press release Bitcoin News

    press release PRESS RELEASE. As Bitcoin and crypto grows in its appeal and global use by individuals, businesses and merchants from all places and corners of the world, the desire for them also increases. Now, perhaps more than any other time in history, digital currencies like BTC, ETH and others, are in demand. The internet has been actively progressing into underlying web 3 standards, and digital assets are increasingly utilized as the…

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  • Markets

    Crypto price predictions: Solana, Theta Network, HOOK

    Solana price has formed a triple-top pattern and a head and shoulders. Theta Network has moved above the cup and handle pattern. Hooked Protocol’s HOOK has surged above its all-time high. Cryptocurrency prices moved sideways this week as the US dollar index continued its downward trend. Bitcoin rose above $23,000 for the first time in months while the total market cap of all cryptocurrencies rose to over $1 trillion. In this report,…

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  • Markets

    Saudi Central Bank Says Ongoing CBDC Experiment Focused on Domestic Wholesale Use Cases – Fintech Bitcoin News

    Saudi Arabia’s central bank digital currency (CBDC) experiment, which is being carried out in conjunction with local banks and fintechs, is presently focused on domestic wholesale uses cases, the central bank has said. Meanwhile, the Saudi Minister of Finance has said CBDCs can be a “fantastic tool” which can be used by developing countries as a “social safety net.” Local Banks and Fintechs Central to Saudi Arabia’s Digital Currency Project The Saudi…

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  • Markets

    What is the Bitcoin hash rate? And why is at all-time highs?

    Key Takeaways The Bitcoin hash rate is the amount of computing power contributed towards mining It has continued to take new all-time highs This squeezes miners’ profitability, at a time when electricity costs have risen and the Bitcoin price has fallen Overall, a high hash rate implies a healthy and more secure Bitcoin network   “All-time high” is a phrase I haven’t used in a while when covering the cryptocurrency space. But…

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  • Markets

    Several upgrades coming to Fantom: FTM price up 52% in 7 days

    The price of the Fantom token, FTM, has risen by 5.9% today. Its price has risen by more than 52% in the last week. The Fantom ecosystem is preparing for a number of upgrades in the coming days. Fantom (FTM) price is leading the current crypto market recovery after registering a 128.8% price surge over the past 30 days. The bullish trend has gained momentum over the past week after Fantom announced…

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  • Markets

    FTX and Alameda Research Collapse Sad Event but ‘Good for the Long Run’ Says DWF Labs Managing Partner – Interview Bitcoin News

    While the collapse of the crypto exchange FTX and its affiliate Alameda Research is thought to have left many crypto players, including market makers, in the worst possible position, according to Andrei Grachev, managing partner at DWF Labs, this incident may have helped to “flush out companies that were not sustainable enough to operate during a storm.” As a result, the “market will be healthier” going forward. The Art of Market Making…

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  • Markets

    State senator pushes bill to make Bitcoin legal tender in Arizona

    Wendy Rogers, a state senator in Arizona, United States, has launched bills concerning cryptocurrency, including one that aims to make Bitcoin (BTC) a legal tender in Arizona.  In a recent tweet, Rogers cited data from investment firm Goldman Sachs that BTC is the best-performing asset in the world and announced that she launched a set of crypto bills. “Breaking: #Bitcoin is the best performing asset in the world this year according to…

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  • Markets

    What is an ascending triangle pattern and how to trade it?

    Market analysts rely on many technical indicators to anticipate future trends, one of which is the very-popular ascending triangle chart pattern. What is an ascending triangle pattern? As the name indicates, an ascending triangle on a chart forms when the price consolidates between a rising trendline support and a horizontal trendline resistance. The pattern typically appears during persistent uptrends or downtrends. Most technical analysts see it as a “continuation pattern,” meaning the…

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  • Markets

    Paraguayan Bitcoin Mining Companies Hurt by Power Rate Hikes of Over 50% – Mining Bitcoin News

    Paraguayan mining companies are taking a hit to their profitability due to the steep power fee hikes the government has established for cryptocurrency mining activities. According to reports from Braiins Mining business developer Nano Grijalba, after the veto of the crypto law, the change in power fees makes mining hosting an unprofitable business in Paraguay. Bitcoin Mining Power Fee Hike Hurts Paraguayan Companies Once seen as a haven for bitcoin and crypto…

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  • Markets

    Fortune Unicorn Club (FUC), the First DIY-Mint Method NFT Project, Has Won 2 Million in Funding in the ForChain Labs’ Seed Round – Press release Bitcoin News

    press release PRESS RELEASE. ForChain Labs was founded in April 2022 as a web 3 startup company. Meanwhile, the NFT project, Fortune Unicorn Club, was being developed. ForChain Labs has raised 2 million funds in its seed round and will use the funds to develop and operate Fortune Unicorn Club (FUC), the first NFT project to utilize DIY-minting. As reported, ForChain Labs currently manages investments in four major segments: industrial, technology, finance,…

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  • Markets

    US securities regulator probes Wall Street over crypto custody: Report

    The United States Securities and Exchange Commission (SEC) has been probing traditional Wall Street investment advisors that may be offering digital asset custody to its clients without the proper qualifications. A Jan. 26 Reuters report citing “three sources with knowledge of the inquiry” said the SEC’s investigation has been going on for several months already but accelerated after the collapse of crypto exchange FTX. The investigations by the SEC have not been…

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  • Markets

    Coinbase Fined €3.3 Million in Netherlands, Exchange Considers Appeal – Exchanges Bitcoin News

    The Dutch central bank has imposed a fine on crypto exchange Coinbase for providing services in the past without the necessary registration. The trading platform, which has until March to object to the measure, is currently considering an appeal against the move. Dutch Monetary Authority Fines Coinbase for Operating Without Registration De Nederlandsche Bank (DNB) has imposed an administrative fine of €3,325,000 (over $3.6 million) on Coinbase Europe Limited, on Jan. 18,…

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  • Markets

    Argo Blockchain accused of misleading investors in class action lawsuit

    Investors of crypto mining firm Argo Blockchain have filed a class action lawsuit accusing the miner of making untrue statements and omitting key information during its initial public offering (IPO) in 2021. A newly filed lawsuit on Jan. 26 is aimed at Argo and several of its executives and board members. It claims the firm failed to disclose how susceptible it was to capital constraints, electricity costs and network difficulties. “The Offering…

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  • Markets

    Bitcoin miner Hut 8 takes stoush with Ontario power supplier to court

    Canada-based Bitcoin (BTC) miner Hut 8 Mining Corporation has ramped up its ongoing fight with its power supplier for one of its mining sites, filing a lawsuit in a Canadian court. Hut 8 said on Jan. 26 it filed a Statement of Claim in the Superior Court of Justice of Ontario against Validus Power, an energy supplier for a Hut 8 mining facility in North Bay, Ontario. The firms have been in…

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  • Markets

    Congressman Hill to ‘make sure’ US is the place for blockchain innovation

    The chairman of the newly formed U.S. congressional subcommittee on digital assets has pledged for progressive crypto regulations to ensure that “America is the place for innovation in fintech and blockchain.” Speaking on CNBC’s Squawk Box on Jan. 26, Congressman French Hill offered some of his first insights into what is anticipated for crypto regulations in the country. The Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, which is chaired…

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  • Markets

    Financial Advisors See Strong Interest in Crypto — 90% Receive Inquiries About Crypto Investing, Survey Shows – Featured Bitcoin News

    A new survey shows that interest in cryptocurrency remains strong among financial advisors’ clients. “Despite market performance, the most common question was: ‘Should I consider an investment in crypto?’” the survey results reveal. Financial Advisors Bullish About Crypto Long Term Crypto asset manager Bitwise Asset Management published a report titled “Bitwise/Vettafi 2023 Benchmark Survey of Financial Advisor Attitudes Toward Crypto Assets” on Tuesday. This is Bitwise’s fifth annual study conducted in collaboration…

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  • Markets

    ‘LEAKED BIDS’ — Binance, Galaxy Digital among secret bidders for Celsius assets

    At least five firms placed bids on Celsius Network’s crypto assets, including Binance, Bank To The Future and Galaxy Digital, according to leaked information shared by crypto blogger Tiffany Fong.  Fong, a follower of Celsius developments who shot to fame after several exclusive interviews with Sam Bankman-Fried following its collapse, has leaked information from documents she says were obtained on Dec. 20 “detailing the bids on Celsius Network’s crypto assets.” In a…

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  • Markets

    UK’s FCA hints at why its given only 15% of crypto firms the regulatory nod

    Despite the plans to turn the region into a bustling crypto hub, the United Kingdom’s financial watchdog says it has given the all-clear to only 41 out of 300 crypto firm applications seeking regulatory approval to date. The U.K. Financial Conduct Authority (FCA) implemented the new cryptocurrency-focused regulations on Jan. 10, 2020, to supervise businesses operating in the sector and to ensure that they’re subject to the same anti-money laundering (AML) and…

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  • Markets

    CFTC’s Johnson urges Congress for expanded powers in crypto oversight

    Commodity Futures Trading Commission (CFTC) Commissioner Kristin Johnson has urged Congress to adopt legislation that “closes the current gap in the oversight of crypto spot markets.” During a speech at the digital assets conference at Duke University on Jan. 21, Johnson proposed a number of amendments that would enable the CFTC to conduct “effective due diligence” on businesses, including crypto firms, that want to acquire CFTC-regulated entities. The Commissioner also wants expanded powers…

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  • Markets

    Arizona Senator Launches Bill to Make Bitcoin Legal Tender – Regulation Bitcoin News

    A senator in the U.S. state of Arizona has introduced a set of cryptocurrency bills, one of which seeks to make bitcoin legal tender. “Centralized digital money controlled by the central bankers is slavery. Decentralized bitcoin is freedom,” the lawmaker said. Arizona Lawmaker Wants to Make Bitcoin Legal Tender Arizona State Senator Wendy Rogers has introduced several crypto-related bills, including one to make bitcoin legal tender in her state. “Launched my crypto…

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  • Markets

    US Senator Ted Cruz pushes for crypto in Congress… using snacks

    Texan Republican Senator Ted Cruz is pushing the United States Congress to adopt cryptocurrency within its halls using an incentive both sides might agree on — food. Cruz introduced a concurrent resolution dated Jan. 25 that would only allow vending machine and food service contractors that accept crypto as a payment option within the U.S. Capitol. If adopted, the Architect of the Capitol, the Secretary of the Senate and the Chief Administrative…

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  • Markets

    Coinbase fined for operating in the Netherlands: here’s why

    Dutch Central Bank announces a $3.6 million fine on Coinbase. It says the crypto exchange has been in a regulatory violation. Shares of Coinbase Global Inc ended roughly flat on Thursday. Coinbase Global Inc seems to be up for another regulatory fine. On Thursday, the Dutch Central Bank forced a $3.60 million penalty on the cryptocurrency exchange for failing to comply with the domestic regulations. What regulation did Coinbase not comply with?…

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  • Markets

    Keep an eye out for major company NFT trademark filings this year

    Crypto proponents would be wise to keep their eyes on nonfungible token (NFT) and metaverse trademark applications this year, which are “reliable signals” of future-use plans. Speaking to Cointelegraph, intellectual property lawyer Michael Kondoudis said while many people may think big corporations are just jumping onto the NFT trend as a novelty, “it is not possible” to register a trademark in the United States with no intention to use it. Despite a…

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  • Markets

    Russia Mulls Gold-backed Stablecoin, Lawmaker Confirms After Iran Visit – Finance Bitcoin News

    Russia may issue a stablecoin backed by gold to use in international settlements, a high-ranking member of the Russian parliament has admitted. The matter has been discussed during a recent visit to Iran where officials have also signaled interest in such an initiative. Iran and Russia Talk Stablecoin Payments for Bilateral Trade Settlements The Russian Federation is considering the creation of a stablecoin backed by gold that can be employed for cross-border…

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  • Markets

    Bithumb in turmoil, Binance’s 47K law requests, Axie players down 85%: Asia Express – Cointelegraph Magazine

    Our weekly roundup of news from East Asia curates the industry’s most important developments. Bithumb in turmoil  On Jan. 25, Yonhap Infomax reported that South Korean authorities had requested an arrest warrant for Kang Jong-Hyun, chairman and owner of cryptocurrency exchange Bithumb, over embezzlement allegations. That same day, the Financial Investigation Second Division of the Seoul Southern District Prosecutor’s Office accused Jong-Hyun and two Bithumb executives of embezzlement, conducting fraudulent transactions and…

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  • Markets

    Data shows pro Bitcoin traders want to feel bullish, but the rally to $23K wasn’t enough

    Bitcoin (BTC) price had a mixed reaction on Jan. 25 after the United States reported a 2.9% gross domestic product growth in the fourth quarter, slightly better than expected. Still, the sum of all goods and services commercialized between October and December grew less than 3.2% from the previous quarter. Albeit somewhat optimistic, another data set limiting investors’ confidence was news that the U.S. Federal Reserve (FED) would revert its contractive measures…

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  • Markets

    SEC once again rejects ARK 21Shares Bitcoin ETF listing

    The SEC has once again rejected a proposal to list the ARK 21 Shares Bitcoin ETF on equities exchange Cboe BZX, according to Jan. 26 statement from the SEC. The SEC rejected a similar proposal in April, 2022. The SEC has just now once again rejected ARK’s and 21Shares spot bitcoin, $BTC ETF listing. — unusual_whales (@unusual_whales) January 26, 2023 The proposed ETF would have been managed jointly by Cathie Wood’s Ark…

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  • Markets

    Moody’s to build scoring system for stablecoins: Report

    Credit rating firm Moody’s is allegedly developing a scoring system for stablecoins, with analysis for up to 20 digital assets, Bloomberg reported on Jan. 26 citing unnamed sources.  The system, which appears to be in early stages of development, will evaluate and rate stablecoins’ reserves quality attestations, although it will not be considered an official credit rating. A third-party would be meant to serve as an attestation that a company’s claims are accurate. In…

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  • Markets

    NBA Extends Partnership With Meta to Bring Basketball Games to the Metaverse – Metaverse Bitcoin News

    The NBA has extended its current partnership with Meta to broadcast its games to the metaverse. The company announced that 52 games of the league will be available to be enjoyed using VR (virtual reality) tech, using Xtadium, a co-viewing platform. Five of these games will be presented in a more immersive way for Horizon Worlds, Meta’s flagship metaverse app. NBA to Broadcast 52 Games in the Metaverse The NBA has sealed…

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  • Markets

    ISDA releases standard definitions for digital asset derivatives

    The International Swaps and Derivatives Association (ISDA) is working on two papers to address fundamental legal risks in the crypto markets, such as the insolvency of crypto exchange firms, according to a statement released on Jan. 26.  The initiative was motivated by the collapse of crypto exchange FTX and previous bankruptcy cases that “prompted a cascade of liquidity and solvency concerns across the crypto ecosystem.” Along with other things, the papers will…

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  • Markets

    Here’s why Bitcoin price could correct after the US government resolves the debt limit impasse

    For much of 2022, the crypto market focused on the U.S. Federal Reserve’s actions. The central bank created a bearish environment for risk-on assets like stocks and cryptocurrencies by increasing the interest rates on borrowing.  Toward the end of 2022, positive economic data, healthy employment numbers and a decreasing inflation rate provided hope that a much-awaited slowdown in the rate of interest rate hikes would occur. Currently, the market expects the rate hikes…

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  • Markets

    Sens. Warren, Wyden question quality of auditors’ oversight in light of FTX debacle

    Two United States senators have taken their questions about the performance of the accounting firms active in the crypto space to a higher power – the Public Company Accounting Oversight Board (PCAOB). Failure to uncover alleged criminality and poor recordkeeping at FTX has sullied the image of the PCAOB and the accounting profession, the senators said. In a letter addressed to PCAOB chair Erica Williams and dated Jan. 25, Democratic Sens. Elizabeth…

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  • Markets

    Polkadot restates its case that DOT has ‘morphed’ away from security status

    The Web3 Foundation, which supports the Polkadot protocol, has again presented its argument that its native DOT (DOT) token is not a security. In a Twitter thread, the foundation emphasized its efforts to comply with U.S. securities laws, as well as Securities and Exchange Commission guidance on digital assets, and declared that DOT had successfully “morphed” and is software, not a security.  The Web3 Foundation reposted an excerpt from a December Twitter…

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  • Markets

    After Mocking the Price Model, Crypto Advocates Discuss Bitcoin’s Rainbow Chart Reintegration – Featured Bitcoin News

    On a few occasions last year, crypto advocates discussed how a number of price models, leveraged to help predict the future value of bitcoin, ended up failing. However, since bitcoin’s value has increased by 36% over the last month, the price has entered the darkest band of the rainbow chart after breaking below the rainbow chart’s lowest band at the end of 2022. Bitcoin’s Rainbow Chart Is Making the Rounds Again Last…

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  • Markets

    88x Finance partners with Axelar Network for cross-chain yield aggregator

    The crypto bear market may be lasting longer than expected, but some Web3 startups see it as the perfect opportunity to build solutions and infrastructure that will welcome users and institutions when the next wave of adoption arrives. Cross-chain yield aggregator 88x Finance claims that the emergence of general message passing and true composability between blockchains is an opportunity to provide services both to retail and professional investors. Roughly six months after…

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  • Markets

    DeFi protocol Aave to deploy V3 upgrade on Ethereum

    Aave holders approve major technical upgrade dubbed Aave Ethereum V3. The vote results showed a total of 706,258 AAVE, or 100% support. Aave Ethereum V3 is set for activation following the governance vote. The Aave community has approved an Aave Improvement Proposal (AIP), a governance proposal seeking to activate Aave V3 on the Ethereum network.  A total of 706,258 AAVE was staked as 100% of the vote supported the technical upgrade, which…

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  • Markets

    Binance stablecoin BUSD sees a sharp market cap drop amid solvency and mismanagement worries

    Stablecoins in the cryptocurrency market help provide U.S. dollar-pegged tokens within the volatile industry. In bull markets, the market capitalization of stablecoins tends to decrease as investors flock to more volatile assets; and in bear markets, investors seek shelter in low-volatility stablecoins, thus increasing their market caps. On Jan. 26, the total market capitalization for stablecoins like Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and Dai (DAI) is over $131 billion.…

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  • Markets

    Porsche NFT trading volume nears $5M despite launch woes, minting halt

    German luxury car manufacturer Porsche’s nonfungible token (NFT) collection reached 2,839 Ether (ETH) ($4.5 million) in total sales volume, according to data from NFTScan at the time of writing on Jan. 26. The collection had a floor price of 2.74 ETH and a high price of 9.18 ETH, with over 1,705 total sales.  Originally meant to have a total supply of 7,500 NFTs, Porsche abruptly halted the minting process on Jan. 25 after some…

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  • Markets

    Blur NFT Marketplace Surges in Volume and Market Share, Rivaling Industry Leader Opensea – Bitcoin News

    Blur, the non-fungible token (NFT) marketplace, has seen a significant increase in volume since its launch in October. According to statistics from Dune Analytics, Blur has captured about 30% of the market share in terms of sales volume. The NFT marketplace leader, Opensea, commands 48% of the market share. Blur NFT Marketplace Captures 30% of Market Share in Sales Volume An NFT marketplace called Blur has seen an increase in market share…

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  • Markets

    Opinion: Barry Silbert keeps quiet as Genesis goes down in flames

    Just two months after the collapse of FTX, Genesis is following suit. Against an increasingly disheartening backdrop of “Big Cryptos” going bust, Barry Silbert’s cryptocurrency lender, Genesis Global Holdco, is the latest firm to file for bankruptcy, and if things always come in three, it might not be the last. Genesis Capital’s parent company, Digital Currency Group, has denied any involvement in the bankruptcy filing, citing “a special committee of independent directors”…

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  • Markets

    SEC rejects Ark21Shares spot Bitcoin ETF for the second time

    The US Securities and Exchange Commission (SEC) has disapproved a proposal seeking to list a spot Bitcoin exchange-traded fund (ETF) for the US market. In a document published on Thursday, the US securities market watchdog said it had rejected the application by Cathie Wood’s Ark Investment and Swiss cryptocurrency investment firm 21Shares.  The Ark 21Shares spot Bitcoin ETF had been proposed for listing on the Cboe BZX Exchange. SEC denies Ark 21…

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  • Markets

    Crypto-friendly Stripe weighs public offering: Report

    Internet payment processor Stripe is reportedly eyeing a public offering and has set a 12-month timeline to explore the possibility. Stripe has hired Goldman Sachs and JPMorgan Chase to advise on the feasibility and timing of a public-market debut, according to a Jan. 26 report by The Wall Street Journal. A source with knowledge of the matter told the Journal that Stripe’s executives will either take the company public or allow employees…

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  • Markets

    El Salvador’s volcano-powered Bitcoin City wins design award

    El Salvador is the first country that recognised Bitcoin as legal tender. Bitcoin City has been recognised as a sustainable and highly efficient project. El Salvador is building the new city in the country’s East, with clean energy entirely sourced from nearby volcanoes. El Salvador made history when it became the first country in the world to adopt Bitcoin (BTC) as legal tender. The country also announced an ambitious project dubbed ‘Bitcoin…

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