Multinational banking firm JP Morgan has successfully executed its first ever cross-border transaction using decentralized finance (DeFi) on a public blockchain. The trade was facilitated by the Monetary Authority of Singapore’s (MAS) Project Guardian on Nov. 2 — which was established as part of a pilot program to “explore potential decentralized finance (DeFi) applications in
Month: November 2022
The past few months have been painful for Bitcoin (BTC) bulls, but they are not alone. The United States Federal Reserve’s tightening economy policy has led investors to seek protection in cash positions and inflation-protected bonds. Surging inflation and recession signals have caused the S&P 500 stock market index to retreat 19% year-to-date. Even gold
Bitcoin (BTC) saw instant volatility on Nov. 2 as the United States Federal Reserve enacted a fourth consecutive 0.75% interest rate hike. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed hints more hikes to com Data from Cointelegraph Markets Pro and TradingView showed BTC/USD initially dropping to $20,200 before momentarily rebounding to $20,800. The Fed
United States Securities and Exchange Commission Chair Gary Gensler cited major enforcement actions against crypto firms as part of the “economic realities” of securities regulation. In written remarks for the Practising Law Institute’s Annual Institute on Securities Regulation on Nov. 2, Gensler used examples of SEC enforcement against crypto lending firm BlockFi and a former
The largest euro-backed stablecoin in the crypto ecosystem is now available on Ripple’s XRP Ledger (XRPL). According to the STASIS team, the integration on the XRPL, which began in February, was completed yesterday. EURS is the leading Euro stablecoin and ranks among the top 10 stablecoins worldwide with tens of thousands of users. Along with
A recent meeting held by Ethereum’s lead developers has led crypto investors to speculate how the Shanghai update will impact the token’s future price. The Shanghai update is scheduled to be deployed in the second quarter of 2023. Ethereum is all set to undergo another crucial upgrade dubbed “Shanghai,” which will play an elemental role
The world’s largest bitcoin options exchange, Deribit, was hacked for close to $28 million, according to an update from the company’s official Twitter account on Nov. 2. Deribit says that the firm’s hot wallet was drained just before midnight the day prior. Crypto Derivatives Exchange Deribit Loses $28 Million — Company Says Customer Funds Are
Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state’s central bank. Circle received in-principle approval for a major payments institution license, allowing it to issue cryptocurrencies and facilitate domestic and cross-border payments, while Paxos received its license to offer digital payment token
Bitcoin (BTC) and the rest of the crypto market have been in a bear market for almost a year. The top cryptocurrency has seen its market valuation plummet by more than $900 billion in the said period, with macro fundamentals suggesting more pain ahead. Another bear cycle produces more BTC hodlers But the duration of
Chinese crypto exchange Huobi, which recently has had to disavow the rumors about massive layoffs inside the company, unveiled the plans to move its headquarters to one of the jurisdictions in the Caribbean, with the Dominican Republic being the first candidate. In the report from Nov. 1, citing one of the board members, the FT
The third quarter earnings for business intelligence firm MicroStrategy revealed a narrowed net loss of $27.1 million for the quarter, while it continues to grow its Bitcoin (BTC) portfolio despite poor crypto market conditions. The world’s largest publicly traded corporate Bitcoin owner confirmed it still owns 130,000 BTC at the end of Q3 2022. That amount represents
As November begins, analysts are busy dissecting the major market movements that occurred in October. While Bitcoin (BTC) stayed relatively unchanged with only 5.89% growth in October, Arcane Research senior analyst, Vetle Lunde mapped out the direction the market might take in the next few months. “Uptober,” a reference to Bitcoin’s bullish historical performance in
Bitcoin (BTC) stayed motionless at the Nov. 1 Wall Street open as traders rooted for clues over a possible direction. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Hopes of a breakout remain despite BTC sell wall Data from Cointelegraph Markets Pro and TradingView showed a narrow range in place for BTC/USD overnight, the day seeing
Tesla, Spacex, and Twitter boss Elon Musk has decided to charge $8 per month for users of the social media platform to have a blue checkmark. “This will also give Twitter a revenue stream to reward content creators,” Musk explained, adding that “it is the only way to defeat the bots and trolls.” However, many
Novice traders are usually drawn to futures and options markets due to the promise of high returns. These traders watch influencers post incredible gains, and at the same time, the multiple advertisements from derivatives exchanges that offer 100x leverage are at times irresistible for most. Although traders can effectively increase gains with recurring derivatives contracts,
Roughly a third of eligible voters in the United States will be “considering crypto policy positions” when choosing candidates in the 2022 midterm elections, according to a new survey. In the results of a 2,029-person survey conducted by The Harris Poll between Oct. 6 and 11, 57% of likely midterm voters say they would be more