Bitcoin (BTC) enters a new week with a bang after sealing its highest weekly close since mid-June — can the good times continue? After a volatile weekend, BTC/USD managed to restrict losses into the later portion of the weekend to produce a solid green candle on weekly timeframes. In what could shape up to be
Month: August 2022
The Acala Network’s aUSD stablecoin depegged by over 99% over the weekend and forced the Acala team to pause a hacker’s wallet, raising concerns about its claim of being decentralized. On Sunday, a hacker took advantage of a bug on the iBTC/aUSD liquidity pool which resulted in 1.2 billion aUSD being minted without collateral. This
Founder and managing partner of Skybridge Capital, Anthony Scaramucci, has an optimistic outlook for the future of crypto markets, advising investors to “see through the current environment” and “stay patient and stay long term.” In an interview with CNBC, the hedge fund manager spoke about his belief that several recent developments in the crypto space
Clamping down on crypto applications that “mess with the primal forces of regulation” is necessary, says Shark Tank host and millionaire venture capitalist Kevin O’Leary, who argued that Tornado Cash and similar services are preventing real institutional capital from coming into the space. In a discussion on Crypto Banter on Saturday, O’Leary, also known as
Summary: Chainlink has declared its stance regarding the upcoming Ethereum PoS transition and possible network hard forks. The oracle network supports Ethereum’s upgrade to a Proof-of-Stake consensus. Forked versions of ETH’s Proof-of-Work blockchain will not be supported by the protocol. The news comes as speculations regarding a hard fork have emerged in recent weeks leading
The S&P 500 rose for the fourth successive week as investors cheered on signs that inflation may have peaked. Bitcoin (BTC) and select altcoins also extended their recovery, suggesting that investors are increasing their exposure to risk assets. A similar trend has played out in the cryptocurrency markets. Altcoins, led by Ether (ETH), have outperformed
There’s a ferment brewing with regard to central bank digital currencies (CBDCs), and most people really don’t know what to expect. Varied effects seem to be bubbling up in different parts of the world. Consider this: China’s e-CNY, or digital yuan, has already been used by 200 million-plus of its citizens, and a full rollout
In just over a month’s time, The Merge is likely to be implemented on the Ethereum blockchain and the network’s proof-of-work (PoW) miners will be forced to mine another coin. So far, it seems ethereum miners are sticking with the PoW Ethereum chain until the very end as profits have increased. While Ethereum will change
Crypto lending platform Celsius Network has an approximately $1.2 billion gap in its balance sheet, with most liabilities owed to its users. In addition, the firm has filed for bankruptcy protection, so its future looks bleak. Still, Celsius Network’s native utility token CEL has soared in valuation by over 4,100% in the last two months,
Shiba Inu (SHIB) broke out of its prevailing “cup-and-handle” pattern on Aug. 14, raising its prospects of securing additional gains in the coming weeks. Shiba Inu could soar 50% A cup-and-handle appears when the price falls and rises in a U-shaped trajectory in the first stage, followed by a swift move sideways or downward in
For Satoshi Nakamoto, the creator of Bitcoin (BTC), the motivation to create a new payment ecosystem from scratch in 2009 stemmed from the economic chaos caused by the banking sector’s over-exuberant and risky lending practices mixed accompanied by the bursting of the housing bubbles in many countries at the time. “And who do you think
Bitcoin (BTC) spiked through $25,000 for the first time in months on Aug. 14, but traders refused to take any chances on a bull run. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Weekend produces brief $25,000 tap for BTC Data from Cointelegraph Markets Pro and TradingView tracked a sudden run-up on BTC/USD, which hit $25,050 on
Velodrome Finance, a trading and liquidity marketplace, announced the recovery of $350,000 stolen on Aug. 4. However, the occasion turned bittersweet when internal investigations pointed out the involvement of a prominent team member, who goes by the pseudo name Gabagool. On Aug. 4, one of Velodrome’s high-worth wallets — dedicated for operating funds such as
Summary: DeFi aggregator DeBank believes that Ethereum hard forks could be counterproductive. DeBank also shared these remarks after naming ETH’s network as the most prospective chain for Web3 solutions and apps. The service said they do not plan to support any hard forks during ETH’s transition to Proof-of-Stake. Chainlink shared similar comments on Monday. Crypto
The government of Uzbekistan, which has previously made significant steps toward a moderate approach to crypto, announced Wednesday that it has restricted access to a number of large international crypto exchanges due to accusations of unlicensed activity. In a statement from Aug. 10, the National Agency of Perspective Projects (NAPP) projects informed that “various electronic
The United States-based venture capital (VC) firm, QED Investors, recently led an investment round that raised more than $50 million for the Nigerian fintech Teamapt. The investment, as well as the VC firm’s hiring of personnel tasked with spearheading its investments in Africa, seem to point to QED Investors’ newfound commitment towards the continent. Teamapt’s
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