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02 Jan 2023 03:58

🪙 Circulation Of Circle USDC Grew By $200 Million Over The Last Week

Circle issued a total of USD 4.2 billion USDC, redeemed USD 4 billion USDC, and increased circulation by USD 200 million from the 22nd to the 29th of December. The reserve consisted of 10.4 billion dollars in cash and 34.2 billion dollars in short-term US government bonds.

The company that is responsible for the stablecoin known as USDC, Circle, has raised the circulation of the coin as of the final week of 2022. From the 22nd to the 29th of December, Circle issued a total of USD 4.2 billion USDC, redeemed USD 4 billion USDC, and increased circulation by USD 200 million, as stated by official Circle sources. As of the 29th of December, the total amount of USDC in circulation was 44.3 billion dollars.

Source

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31 Dec 2022 04:15

💰 Vitalik Buterin Helped Solana Out Of 22 Month Low With A Tweet

Solana, the network that was most devastated after the collapse of Sam Bankman-Fried’s FTX empire, is still facing difficulties as SOL, its native token, is in serious decline and could become among the most devalued tokens of 2022 after LUNA and FTT.

Ironically, Ether is Solana’s most serious opponent, even though Solana was previously dubbed the “Ethereum killer,” but now it seems a bit vain. After the Ethereum founder tweeted support for the blockchain most severely damaged by FTX’s collapse, SOL mostly reversed from the 15% decline.SOL recovered from its $8.02 low on Thursday to retake the $9.63 trading range, where it had been trading for the majority of the day.

Source

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29 Dec 2022 05:31

⚡️ Sam Bankman-Fried Criminal Case Assigned To Judge Lewis Kaplan

U.S. District Judge Lewis Kaplan replaces his colleague Ronnie Abrams in the Sam Bankman-Fried criminal case. Judge Ronnie Abrams withdrew from the case because her husband’s law company had previously provided advice to FTX, SBF’s now-defunct cryptocurrency exchange.

According to Reuters, U.S. District Judge Lewis Kaplan replaces his colleague Ronnie Abrams, Kaplan is also in charge of high-profile defamation lawsuits against former U.S. President Donald Trump and a sexual abuse lawsuit against Britain’s Prince Andrew. Ronnie Abrams overseeing Sam Bankman-Fried’s (SBF) high-profile criminal prosecution withdrew from the case.

Source

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27 Dec 2022 03:45

💰 Uniswap Social Dominance Increases By 443.6% Despite Its Poor On-chain Metrics

The price motion of the whole crypto market over the previous several days has not been in line with investor interest. However, Uniswap remained a hot topic in the crypto space as its social dominance went up this week.

Despite the fact that most cryptocurrencies did not see an increase, LunarCrush reported that UNI remained a big subject in the crypto realm this week, with its social dominance increasing. UNI remained popular, but market signs indicated that investors should be wary since things may worsen in the following days.

Source

@TradeCryptoNow

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25 Dec 2022 15:46

$TIME is the most oversold coin.

Located in the accumulation zone 53-57.
Could pump hard 🚀🚀
I am buying some.

A few key points about the project:

1. Founded in 2016, Chrono.tech operates the biggest crypto freelance platfrom - LaborX. Seems like there're some special perks for TIME holders.
2. Token is already listed on tier-1 exchanges, including Coinbase and Kucoin.

3. In the near future the TIME token will be listed on two top exchanges.

4. TIME-30D Fixed Promotion on KuCoin, APR of 72%! WOW😳

The price stabilized at around 53-57, looks good for a medium term holding.

P.S: Not financial advice.
DYOR🚀

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24 Dec 2022 02:57

📣 Crypto Auditors Come Under SEC Scrutiny

The US Securities and Exchange Commission is increasingly scrutinizing audits performed for cryptocurrency companies, with concerns over their legitimacy. These crypto companies have been seeking to demonstrate.

Many have been seeking out auditing firms to provide third-party assurances to their customers and prospective investors. Some of these reports neglect to include all the relevant financial information, the SEC said, with firms claiming it violated confidentiality.we will consider a referral to the division of enforcement.”

Source

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22 Dec 2022 03:36

🪙 Waves Platform CEO announces launch of new stablecoin

Sasha Ivanov, the founder, and CEO of Waves Platform has announced that he will be launching a new stablecoin.Some users have expressed concern about the potential for the new stablecoin to depeg like the USDN stablecoin did multiple times this year.

Ivanov has previously taken on $500 million debt to restore the USDN peg, and he has stated that a “$USDN situation resolution plan” will be put into action in order to prevent a repeat of earlier events. The stablecoin will not be a new version of USDN with a new mechanic but an entirely new product according to the Waves CEO.USDN stablecoin did multiple times this year.

Source

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20 Dec 2022 06:10

🟠 Binance.US agrees to buy Voyager's assets

Binance.US has entered into an agreement with Voyager Digital to acquire the bankrupt crypto lender's assets. “Our bid is a reflection of our guiding principle that customers should come first," Brian Shroder, Chief Executive Officer and President of Binance.US,

The announcement comes during financial turmoil for the blockchain and cryptocurrency industry, with centralized exchanges under increased scrutiny. Shroder noted on Twitter that "Binance.US is well capitalized: our assets exceed our liabilities," explaining: "All of our customers could withdraw their assets tomorrow.

Source

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18 Dec 2022 04:40

📉 San Luis in Argentina to Create Dollar-Pegged Stablecoin

The Argentinian province of San Luis has passed a bill allowing it to issue a dollar-pegged stablecoin. The new law will also give local artists the chance to have their work minted as NFTs.

The bill, called “Financial Innovation for Investment and Social Economic Development” is the latest step for the region’s move towards digitization. The purpose of the law is to harness blockchain for the region’s benefit. These benefits include “financial innovation”, and “social, economic, cultural, and financial inclusion.”

Source

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16 Dec 2022 04:59

🚨 Bitcoin miner CleanSpark slashes 2023 hashrate guidance on build-out delays

Bitcoin miner CleanSpark is lowering its 2023 hashrate guidance from 22.4 EH/s to 16 EH/s because of build-out delays coming from its infrastructure partner, Lancium. CleanSpark did, however, meet its 5.0 EH/s year-end hashrate in October and is now projecting to reach 6.0 EH/s by Dec. 31.

Lancium was expected to provide first 50 megawatts this month and the next 150 megawatts in the spring, Bradford said. Instead, that capacity only will be available in late 2023 — or even later, given current market conditions. Margins in the industry are hurting amid higher costs and lower bitcoin prices. Some of the largest players are cash-strapped and struggling to pay bills.thousands of machines from competitors in recent months.

Source

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14 Dec 2022 05:38

🪙 MakerDAO to execute bundled governance actions, including pay for delegates

MakerDAO, the decentralized autonomous organization behind the Maker DeFi project, is set to execute eight governance proposals that have been voted on by the community in what the protocol has called its “most important deployments of 2022.”

The DAO’s delegates voted on the proposals on Dec. 11. The bundle includes a compensation package for recognized delegates, the onboarding of Gnosis DAO (GNO) token as collateral for DAI and raising the DAI savings rate from 0.01% to 1%. The Block previously reported that the DAO was looking to adopt GNO as collateral for minting its stablecoin DAI.

Source

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12 Dec 2022 05:37

💰 Cardano adds over 20,000 new staking addresses on average monthly for over a year

Cardano’s (ADA) ecosystem continues to expand despite the uncertainty in the cryptocurrency market, which has been heavily impacted this year by the implosion of the Terraform Labs ecosystem and now by the crypto exchange collapse involving FTX.

According to data acquired by Finbold, Cardano has added 22,327 new staking addresses on average monthly for 13 months. Indeed, figures from Pooltool, a Cardano data aggregation tool, indicate that ADA’s staking wallets reached total stake addresses of 1,232,459 on December 9, compared with the 942,117.

Source

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10 Dec 2022 03:38

📣 Three Arrows Capital co-founder says it wasn’t luna that took it out, but FTX

Three Arrows Capital co-founder Kyle Davies said that it wasn’t luna, an ensuing credit squeeze or declining crypto prices that brought the hedge fund to its knees. He said 3AC’s death knell came from being liquidated on FTX before it collapsed.

Davies broke down how the hedge fund unwound on a podcast with hedge fund manager Hugh Hendry. He claimed that the fund survived the collapse of luna, the ensuing credit squeeze and decline of crypto prices — only to succumb when it was liquidated by FTX. He also claimed FTX and Alameda shared internal information and that the trading firm knew its liquidation level and deliberately hunted it.

Source

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08 Dec 2022 08:48

💸 Blockstream's unicorn status in jeopardy as it seeks fresh funding: Bloomberg

Crypto infrastructure firm Blockstream is looking for a fresh injection of capital at a significantly lower valuation than it raised at last year. The startup raised $210 million in a Series B round led by Baillie Gifford and Bitfinex in August 2021, which brought its valuation to $3.2 billion.

Founded in 2014, the startup has raised a total of $299 million to date, according to data from Crunchbase. It provides infrastructure services to the crypto industry and recently partnered with fintech firm Block to launch a solar and battery-powered mining facility. It's also made a number of acquisitions over the years including SponDoolies-Tech and Adamant Capital.

Source

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06 Dec 2022 05:49

🇮🇳 Indian Crypto Association Seeks Relief from High Taxes

A prominent Indian cryptocurrency trade body – Bharat Web3 Association (BWA) – has red-flagged the high taxes and regulatory uncertainty in its draft of concerns and recommendations submitted to the Indian Finance Ministry, which is holding consultations in the run-up to the budget for 2023-24.

The Finance Ministry introduced a 30% capital gains tax and 1% transaction tax deduction at source (TDS) in the budget for 2022-23. It also clarified that profits made on crypto transactions will not be allowed to be carried forward and offset against losses. These harsh moves hurt the crypto trade badly, and Indian crypto exchanges witnessed a fall in trading volume in the range of 90%.

Source

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01 Jan 2023 03:36

📣 Compass Mining Wins $1.5 Million In Court Ruling Against Dynamics

On Thursday, Judge J Travis Laster, of the Delaware Court of Chancery, ruled in favour of Compass Mining and entered a default judgment against Dynamics for $1,474,400, plus post-judgment interest and costs.

Compass launched a lawsuit on the grounds that Dynamics was hostage-taking its equipment and claimed that the accusations were totally false. Additionally, the firm said that while it had contributed roughly $1.7 million to the development and maintenance of three buildings, Dynamics had failed to meet some of its duties. according to a statement, Compass is unclear whether it will be able to recover that money.

Source

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30 Dec 2022 12:02

📣 California regulator issues barrage of crypto scam warnings

California’s financial regulator released a barrage of 16 crypto scam alerts between Dec. 27 and 28, warning consumers of potentially fraudulent crypto websites and brokers. crypto scam alert bombardment took place on Jun. 15, when 26 notices were pushed out.

The California Department of Financial Protection and Innovation rarely releases more than one warning at a time, but seems to have made an exception for crypto. Its previous crypto scam alert bombardment took place on Jun. 15, when 26 notices were pushed out. Some of the sites attempted to dupe well-known entities, with names such as “eth-Wintermute.net,” “UniSwap LLC” and “RB Hood.”

Source

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28 Dec 2022 02:42

📣 WBS Bangkok 2022 Was Successfully And Opened A Bright Future For Web3

World’s largest blockchain and web3 summit series, WBS has hosted over 35,000 industry stakeholders at over 20 editions in over 10 destinations worldwide. WBS Bangkok 2022 was a great success and opened up a bright future for Web3 after 2 days of the organization.

During the two-day summit, blockchain solution providers, Web3 projects, investment partners, and community partners showcased their services and made networking possible. The summit also features inspirational keynotes, pitch competitions, panel discussions, investor meet-ups, project showcases, industry use cases, and a host of formal and informal networking opportunities.

Source

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26 Dec 2022 03:39

⚡️Crypto Is Down Bad, But VCs Keep Pouring Money In

Given the contagion and chaos we have witnessed since Sam Bankman-Fried’s crypto exchange FTX had a sudden multibillion-dollar coronary, you may be tempted to conclude the entire crypto industry is headed for the great Chapter 11 bankruptcy filing in the sky.

Analysts at Pitchbook report that crypto VC investment in 2022 (a brutal year across all tech) has outweighed that of both fintech and biotech, pulling in $6.5 billion over the last 12 months, $879 million of it in the last quarter. Just take a look at the last week or so of drab crypto industry press releases. You’ll see a $4.75 million round for a thing called Earn Alliance. A $70 million raise for a thing called Ramp Network. A further $15 million for Roboto Games.

Source

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25 Dec 2022 03:11

🇰🇵 North Korean Hackers Have Stolen $1.2B in Crypto Since 2017

Hackers sponsored by North Korea have stolen an estimated 1.5 trillion won ($1.2 billion) in cryptocurrencies from around the world since 2017, according to an AP News report citing South Korea's main spy agency, the National Intelligence Service (NIS).

The NIS believes that North Korea is among the best in the world when it comes to stealing crypto as the country turned its focus on cybercrime after U.N. economic sanctions were toughened in 2017 in response to its nuclear and missile tests. Of that sum, a reported $78 million has come from South Korea.

Source

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23 Dec 2022 05:56

📣 Retiring Sen. Toomey introduces new stablecoin bill

Sen. Pat Toomey, R-Pa., introduced a bill that would establish a federal framework for stablecoins and aims to “guide Congress” toward future crypto regulation, less than two weeks before the Republican is set to retire.

Toomey is the ranking Republican on the Senate Banking Committee, and he is viewed as an influential figure on crypto policy. The Pennsylvania lawmaker’s new bill is called the "Stablecoin Transparency of Reserves and Uniform Safe Transactions Act of 2022.". The bill would establish a new federal license for payment stablecoin issuers.

Source

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21 Dec 2022 03:32

🇺🇸 Binance joins U.S. lobby group's executive committee

Binance is joining the executive committee of the Chamber of Digital Commerce, a U.S. lobby group for the blockchain industry, as the world's biggest crypto exchange steps up its engagement with regulators.

Binance will contribute to research and potentially influence the shape of crypto legislation through discussions with policymakers and regulators, according to a statement. The crypto giant joins traditional finance firms like Visa and Deloitte as well as blockchain firms such as Circle and OKCoin. The exchange's U.S. unit, Binance US.

Source

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19 Dec 2022 02:54

💰 FTX Co-Founder Bankman-Fried Plans to Surrender to US Extradition Request

Disgraced FTX co-founder Sam Bankman-Fried (SBF) has reportedly reversed his decision to contest his extradition to the United States. Bankman-Fried has spent close to five days in the Bahamas Department of Correctional Services (BDOCS) jail Fox Hill.

On Dec. 17, 2022, Reuters reported that “a person familiar with the matter said on Saturday” that Sam Bankman-Fried (SBF) plans to be more accepting of being extradited to the United States. The source noted that SBF will “reverse his decision to contest extradition” when he appears in court on Monday. The former FTX CEO was supposed to remain at Fox Hill until Feb. 8, 2023.

Source

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17 Dec 2022 06:15

💰 Jefferies sees recovery rate of up to 40% for FTX creditors

Risks of clawbacks and lack of asset proof complicate the sale of claims. New York-based investment bank Jefferies Financial Group estimates FTX creditors could get as much as 40% of their money. However, that recovery rate would likely be lower once bankruptcy administrators have taken their fees.

Total liabilities at FTX appear to be between $10 billion and $13 billion against assets of $2 billion to $4 billion, Joseph Femenia, global head of distressed and special situations at the bank, said in an interview. That indicates a recovery rate of between 20% and 40%, said Femenia, who has assigned a five-person team to work on FTX full-time. the Securities Investor Protection Corporation paid the administration fees.

Source

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15 Dec 2022 04:59

📈 Total crypto market cap makes 4 week high to $874B following CPI release

The total crypto market cap recorded inflows of $27.2 billion in the last 24 hours to post a four-week high of $871.4 billion. This suggests investors’ confidence is returning following the FTX scandal and wider, ongoing macro factors.

Since bottoming, signs of returning confidence have presented with a slow trickle upwards. This sentiment was boosted on Dec. 13 following better-than-expected U.S. Consumer Price Index (CPI) data, showing a 7.1% year-on-year increase. Economists’ expectations were for a 7.3% increase. Market leader Bitcoin saw a spike to just below $18,000, and capital inflows jumped at 13:30 (UTC,) the time of the CPI announcement.

Source

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13 Dec 2022 04:52

🪙 Arkansas Electric Utility to Offer Energy Sweetener to Battered Crypto Miners

An Arkansas energy provider is sweetening the deal for crypto miners in the state with a special tariff to keep costs down as the industry faces compounded challenges. state which already has some of the lowest energy costs in the U.S.

First proposed earlier this year, the energy charge ranges from $0.75 to just over a penny per kilowatt-hour, a spokesperson for the company told Arkansas Business. Entergy, which is the state’s largest power company, will evaluate whether customers qualify for the special tariff based on their power usage and whether they are directly involved in crypto mining. which is already below the national average of $0.13.

Source

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11 Dec 2022 04:43

🇬🇧 UK Includes Crypto Assets in Financial Services Reform Package

The UK government today announced a package of more than 30 reforms to financial regulation, including the extension of tax breaks for investment managers to cover crypto assets. Dubbed the “Edinburgh Reforms,” the measures are designed to replace EU regulation.

The announced measures include publishing a formal response to the consultation on expanding the Investment Manager Exemption to cover crypto assets, which will facilitate their inclusion in the portfolios of overseas funds managed in Great Britain without creating a risk of UK taxation. Treasury include setting up a financial market infrastructure sandbox next year.

Source

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09 Dec 2022 04:26

🪙 USDC could get access to Fed’s RRP via BlackRock partnership

USDC stablecoin could get indirect access to the Federal Reserve’s risk-free liability, as its partner BlackRock is set to apply for the Fed’s reserve repo (RRP) program. Circle CFO Jeremy Fox-Geen recently announced that the stablecoin issuer.

The Circle Reserve Fund is managed by BlackRock, which qualifies Circle as an indirect investor in the government money market fund. The reserve will comprise 20% cash held at the Bank of New York Mellon, and 90% short-term U.S. Treasuries. Circle said that it will convert all its existing Treasury holdings into the Circle Reserve Fund by the end of March 2023.

Source

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07 Dec 2022 05:56

📣 MoonPay’s Soto-Wright wants web3 to ‘permeate culture’ — at a challenging time

MoonPay has rolled out several new NFT-focused infrastructure tools over the past year, targeting celebrities and big brands. CEO Ivan Soto-Wright thinks big brands’ demand for web3 is undimmed, even after a series of disasters in the wider crypto space.

Soto-Wright is one of web3’s busiest executives. While running a $3.4 billion company, he finds ample time to schmooze musicians and television stars, largely thanks to his efforts to broker NFTs to the rich and famous. Lil Baby, the rapper, gave MoonPay a shout-out in a song released in October — “Invest a lil’ somethin’ into MoonPay just to try somethin’” — after spending time with Soto-Wright. Few Series A founders live in $38 million Miami mansions. Soto-Wright does.

Source

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05 Dec 2022 04:08

💰 Celsius clients with collateral stuck on failed crypto platform turn to bankruptcy process for relief

After crypto lending platform Celsius paused withdrawals in June and then went bankrupt, borrowers have been unable to get their collateral off the platform. A former director at Celsius told CNBC that the company’s failure to match its assets and liabilities contributed.

Alan Knitowski holds an MBA, has worked in technology and finance for over 25 years and is CEO of a mobile software company that trades on the Nasdaq. That didn’t prevent him from getting duped by a crypto firm. Knitowski borrowed $375,000 from crypto lender Celsius over several years and posted $1.5 million in bitcoin as collateral.

Source

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