On Oct. 25, 2022 — about two weeks before the collapse of the world’s third-largest cryptocurrency exchange, FTX — prominent DeFi architect Andre Cronje published a foreboding article with a chilling warning on the state of centralized cryptocurrency exchanges: “Remedies under the current regulatory regime are ineffective. Most investors sign away their rights to their
Month: February 2023
Bitcoin (BTC) is leading the cryptocurrency markets on the path to recovery. Although the United States Consumer Price Index (CPI) print for January was marginally higher than expectations, it did not dent the enthusiasm of bullish crypto traders. A positive response to seemingly negative data is a sign that the sentiment is bullish and traders
Ripple announced today that it will join other crypto industry companies in providing funds for earthquake victims in Turkey and Syria. In a tweet, Ripple wrote that it will provide $1 million in XRP to support NGOs. The company, which is awaiting the judge’s decision in its legal battle with the U.S. Securities and Exchange
Matter Labs, the firm managing Polygon, announced that the beta version of its zero-knowledge Ethereum Virtual Machine (zkEVM) would launch on March 27, 2023. It’s possible that Polygon will enjoy a first-mover advantage in this space by launching a public mainnet before zkSync and Scroll. Zk-based roll-up technology is accepted as the gold standard for scaling. The
The Bitcoin (BTC) white paper title describes Bitcoin as a “peer-to-peer electronic cash system.” So how is Bitcoin being used as a means of exchange, or electronic cash, in the first country to adopt Bitcoin? Reporter Joe Hall spent a few weeks in El Salvador attempting to live off Bitcoin and Bitcoin only. He documented
Lawmakers in the Kansas House of Representatives have introduced a bill proposing to amend the legislature’s rules on political campaign donations. According to the bill, no person would be allowed to make or accept crypto contributions of more than $100 for any political candidate in the state’s primary or general election. For donations under $100,
On Feb. 14, 2023, Milena Mayorga, the Salvadoran ambassador to the United States, announced that her country is considering opening a second bitcoin embassy in the Lone Star State. Mayorga said that Texas is “our new ally” and the goal is to expand “commercial and economic exchange projects.” Ambassador Milena Mayorga Fosters Growing Relationship Between
Bitcoin (BTC) hit its highest in almost a week on Feb. 15 as “extremely positive” economic data boosted risk asset sentiment. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC’s price aims for $23,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 2.2% on the day to eye a reclaim of $23,000. Analysts were already
On Feb. 13, BNB (BNB) recorded its worst daily performance since November 2022, falling 8.5% to below $285. BNB’s price has since recovered to over $298, but its possibility of facing another sell-off remains high. Let’s take a look at a few reasons why. BNB price rising wedge breakdown The ongoing decline in BNB’s price came
Ether (ETH), the second-largest cryptocurrency by market capitalization, has seen a constant decline in exchange supply over the past six months post-Merge. The Ethereum network underwent a major upgrade in September 2022, moving from a proof-of-work (PoW) to a proof-of-stake (PoS) network in an event called the Merge. According to on-chain data shared by crypto analytics
Showing an interest in cryptocurrencies might just be the key to attracting a romantic partner, according to a Valentine’s Day survey conducted by Binance. The cryptocurrency exchange carried out a global survey in the lead-up to the annual romantic holiday, with 2,600 participants weighing in on the importance of an interest in crypto in potential
As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists: The fears of the crypto community about the possible repercussions of the recent court deal between the United States Securities and Exchange Commission (SEC) and Kraken are
Rightfulshare, an income equality advocacy movement, recently said it has launched what it describes as the “first unconditional” crypto universal basic income (UBI) transfer. According to Karen Jooste, the crypto UBI not only expands the possibilities for unemployed South Africans but also nurtures their entrepreneurial spirit. Fairer Income Access Rightfulshare, a movement advocating for equality,
The price of Ether (ETH) declined 10.2% between Jan. 8 and Jan. 10, and has since been range trading near the $1,500 level. More importantly, on a broader time frame, Ether is down 52.5% in twelve months, which partially explains why derivatives metrics were somewhat neutral after Ether’s failed attempt to break $1,700 on Feb.
The decentralized autonomous organization (DAO) behind Lido — the largest Ethereum staking pool — is deliberating whether it should sell or stake the $30 million in Ether (ETH) from its treasury. A proposal was submitted on Feb. 14 by the DAO’s financial unit, Steakhouse Financial that considers four choices, one of which contemplates staking part
After 20 days of holding the $22,500 support, Bitcoin (BTC) price finally broke down on Feb. 9. Bullish traders had placed their hope on a sustained rally, but this has been replaced by a tight trading range with resistance at $22,000. The downtrend is even more concerning since the S&P 500 is trading near its
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