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Assuming Wall Street embraces these ETFs, the futures premium, or the spread between futures prices and spot prices, would rise significantly, boosting yields from cash and carry strategy, which involves buying the asset in the spot market and simultaneously selling futures contracts. Carry trades are direction-neutral and profit from an eventual convergence of the two prices. (Futures price converges with the spot price on expiry). Source link

Grayscale’s ETF would be backed by actual units of the cryptocurrency, not simply linked it via derivatives contracts such as futures. Should the proposal gain approval, it would be a further expansion of the leading cryptocurrency as a recognized investible asset. Source link

This episode is sponsored by NYDIG. Download this episode On this week’s “Long Reads Sunday,” NLW reads SEC Commissioner Hester Peirce’s recent speech: “Lawless in Austin.” See also: SEC Approves Bitcoin Futures ETF, Opening Crypto to Wider Investor Base “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: danm/Moment/Getty Images, modified by CoinDesk. Source link

Mets said that the Estonian parliament, the Riigikogu, must pass the new regulations, which the FIU supports, and that if they win approval, crypto operators will have a time period to adopt them. He said that the regulations would help ensure that crypto operators are managing risks and also bolster the FIU’s oversight of crypto services. “The changes reinforce a transparent and trustworthy business environment,” Mets said. Source link

The virtual meeting was hosted by the U.S. White House. Representative from Australia, Brazil, Bulgaria, Canada, Czech Republic, the Dominican Republic, Estonia, European Union, France, Germany, India, Ireland, Israel, Italy, Japan, Kenya, Lithuania, Mexico, the Netherlands, New Zealand, Nigeria, Poland, Republic of Korea, Romania, Singapore, South Africa, Sweden, Switzerland, Ukraine, United Arab Emirates and the United Kingdom participated. Source link

Italy’s OTB Group, the owner of fashion brands Diesel, Jil Sander and Viktor & Rolf, is the latest luxury goods company to join the Aura Blockchain Consortium. In April, Louis Vuitton’s parent firm, LVMH, Prada and Richemont-owned Cartier unveiled the Aura Blockchain Consortium, a network developed in partnership with ConsenSys. OTB Group is the latest to join luxury brands, including Bulgari, Cartier, Hublot, Louis Vuitton, Hennessy and Prada, in tackling counterfeit goods through a blockchain-based seal of authenticity called Aura. Aura Blockchain Consortium said it has developed a roadmap for a number of technical projects that includes entering the non-fungible token […]

Belarus has classified crypto miners in the same electricity-tariff grouping as data centers, according to a directive jointly issued by the Ministry of Energy and Ministry of Anti-Monopoly. The directive, issued Sept. 27 and made public on Thursday, adds two groups of customers to the previous rankings. One of those groups is: “Organizations processing data, providing services for information storage and related activities, including mining and data centers.” The group is further divided into five sub-groups, depending on how much electricity they use, from 25 million kilowatt hours to 500 million kWh this year. The directive does not provide prices for […]

Within a week, Catanzaro developed an initial version of Cafecito, which only contained his profile and was linked to MercadoPago, the payments processor of e-commerce giant MercadoLibre, allowing people to send Argentinian pesos to the programmer. Its business model consists of charging 5% of the tip given to the creator, while the payment processor, MercadoPago, keeps another percentage of the total received, Catanzaro said. Source link

The miners’ stocks, which are highly correlated with the price of bitcoin, have seen a relentless rally this year as the price of the largest cryptocurrency more than doubled. Meanwhile, the Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF, or RIGZ, which has heavy exposure to the miners and was launched in July, has gained 47%. Source link

“This is something that’s been around and is super popular, and this works way better on a blockchain,” he added. “To really break out, to get to one billion, two billion, ten billion, [dollars] we needed this architecture, and now thousands of people can win each week.” Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English Source link

Nic Carter, prominent industry venture capitalist and shyguy, had an insightful comment yesterday about how it’s easy to lose sight of reality when you’re logged on, heads down focused on building the digital tomorrow. It was in an article about tungsten – the latest obsession among many on Crypto Twitter. “Focusing on metals is funny because, like, we’re dealing with synthetic stuff all day, right? So, like, why not just recenter on some analog physical goods every now and again. That’s the joke,” he said. This article is excerpted from The Node, CoinDesk’s daily roundup of the most pivotal stories in […]

When they look at non-fungible tokens, non-crypto “normies” in the mainstream tend to focus on the mind-blowing prices that have been paid for digital art and the fanaticism around avatar communities such as the $542 million in sales of Bored Ape Yacht Club NFTs. They wonder what all the fuss is about. If they were to pick up on the many other applications that are now being explored – from renting out your digital gaming assets to selling your DNA – they might recognize that something more profound is afoot. Even though, for now, speculation appears to be the biggest use […]

The news comes as U.S. investors await the fate of a spate of bitcoin futures-linked ETFs from the Securities and Exchange Commission (SEC). With Bloomberg reporting their approval is imminent, the crypto markets are rallying, with bitcoin leading the way. Source link

Dogecoin, regardless of its intrinsic or functional qualities, has been buffeted by unique force multipliers. The Dogecoin NASCAR was just one of a long series of public spectacles that bolstered its value through familiarity and positive association: in a world of high-risk, hard-to-understand speculative currency gambles and scams, the friendly face of Dogecoin continued to show up in shockingly pleasant contexts. Sandwiched between horror stories of plundered startups and costly crashes were stories of Dogecoin cars, Dogecoin charities, and silly tales of casual folks hitting it big with the friendly dog joke crypto. Dogecoin, through its perceived harmlessness, inadvertently developed the […]

How can an industry with all that equipment and complicated energy needs move so quickly to a new location? What are the geopolitical implications of China’s bitcoin mining leadership – once as high as 75% of total hashrate – now being ceded to the U.S., Kazakhstan and Russia? What does this mean for regulation, especially in the U.S., where the chairman of the Securities and Exchange Commission, Gary Gensler, has been talking a hard line against crypto? Would the presence of a dominant, profitable and strategically important bitcoin industry sway policymakers toward being more or less crypto-friendly? Source link

This episode is sponsored by NYDIG. Download this episode On today’s episode, NLW looks at the buzz and excitement around a bitcoin futures ETF. The historical moment could be an inflection point for new audiences to get into the asset class. At the same time, there are some who suggest that a bitcoin futures ETF won’t be all it’s cracked up to be. See also: Bitcoin Climbs Above $60K After Report That SEC Won’t Block Futures ETF “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine […]

This episode is sponsored by NYDIG. Download this episode On this edition of “The Breakdown Weekly Recap,” NLW looks at two new policy frameworks released by companies in the crypto and Web 3 space. The first comes from Coinbase and argues there should be a new regulator for digital assets. The second comes from venture capital firm Andreessen Horowitz (a16z) and is a holistic approach to what it calls the third generation of the internet. See also: Crypto Finally Makes the Cut in OCC’s 2022 Bank Supervision Operating Plan “The Breakdown” is written, produced by and features NLW, with editing by […]

The Office of the Comptroller of the Currency (OCC) released its 2022 Bank Supervision Operating Plan on Friday and for the first time, crypto made the cut. In its report, the federal banking regulator listed its 11 supervisory priorities for the fiscal year that ends next September, including cybersecurity, climate change and “fintech partnerships for potential cryptocurrency-related activities and other services.” Though this is the first time the OCC has directly mentioned crypto as a priority, the regulator has been studying crypto for at least three years. Last July, the OCC published an interpretive letter that allowed nationally chartered banks to […]

La SEC está revisando alrededor de 40 solicitudes de ETF de bitcoin, y la semana que viene se cumplirán los plazos de decisión sobre los productos vinculados a los futuros. Según Bloomberg, se espera que el regulador apruebe al menos algunos de ellos, despejando el camino para que comience a operar. Source link

CEO Jack Dorsey said if the payments service provider begins the initiative, it would follow the open-source model it is using to build a hardware wallet. Oct 15, 2021 at 9:28 p.m. UTC Updated Oct 15, 2021 at 9:46 p.m. UTC

“As to the Tether reserves, there is no finding that tether tokens were not fully backed at all times – simply that the reserves were not all in cash and all in a bank account titled in Tether’s name, at all times. As Tether represented in the Order, it has always maintained adequate reserves and has never failed to satisfy a redemption request,” Tether wrote. Source link

A bitcoin exchange-traded fund (ETF) lets traders gain exposure to BTC via traditional stock markets, without needing to directly buy or sell the digital asset on a cryptocurrency exchange. A bitcoin ETF is an exchange-traded fund that specifically tracks the price of the leading cryptocurrency and allows traders to purchase or sell the security on a stock exchange throughout the day. They can be cash-settled or physically settled, meaning investors will receive either fiat currency or actual bitcoin upon exiting, respectively. ETFs are regulated traditional financial products and can be bought through a number of retail-friendly mobile trading apps, including Robinhood, […]

Bitcoin rose to $61,000 Friday as traders eagerly anticipate approval of a bitcoin exchange-traded fund (ETF) in the U.S. Enthusiasm for such an approval contributed to a near 6% jump in BTC’s price over the past 24 hours. The U.S. Securities and Exchange Commission (SEC) is reviewing around 40 bitcoin ETF product filings and has multiple decision deadlines to make a decision on futures-linked ETFs starting next week. According to Bloomberg, the regulator is expected to approve at least some of them, clearing the way for an anticipated hike in trading to begin. An exchange-traded fund is a type of security […]

Tribe Capital, a venture capital firm with previous investments in Kraken and FTX among others in the crypto sector, is launching a $75 million cryptocurrency fund, sources familiar with the initiative told CoinDesk. The fund initially sought to raise $50 million but strong interest from investors raised the total, according to the sources. San Francisco-based Tribe’s fund will take long positions in early-stage projects, SAFTs (simple agreements for future tokens, a type of investment agreement that developers use to work with investors), yield farming, treasury buys and mining. The fund will make 75% of its investments in U.S. projects and 25% […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English Source link

Proponents of a bitcoin ETF believe the product will be more widely accessible for individuals interested in bitcoin than the actual cryptocurrency is, by giving investors a regulated alternative to the underlying digital asset. The first product will track bitcoin futures, rather than the price of bitcoin directly, however. SEC Chair Gary Gensler indicated he believes futures-based products might provide stronger investor protections due to the laws they operate under. Source link

Fresh on the heels of Coinbase asking the U.S. government to create a new regulator to oversee the cryptocurrency industry, the exchange is seeking public input via GitHub. A repository published Thursday by the crypto giant is seeking suggestions from techno-savvy observers. “This framework represents our good-faith suggestions on a U.S. regulatory framework for digital assets,” Coinbase wrote. “We encourage your contributions to this discussion about the role of digital assets in our shared economic future.” A Coinbase spokesman confirmed it’s the first time the company has used GitHub to solicit feedback on policy matters. (The company’s engineering team has long […]

“We have seen an aggressive sustained effort on ransomware the last few weeks from the administration that started even before the Suex designation,” Redbord, a former Treasury official, told CoinDesk in a statement. “We are rightfully seeing the most focus on hardening cyber defenses, and when it comes to crypto, we are seeing Treasury, DOJ, and others target the illicit parts of the crypto ecosystem rather than the overwhelmingly compliant industry itself.” Source link

Business The announcement comes shortly after Antpool, the largest bitcoin mining pool by hashrate, said it will block internet access from mainland China. By Jamie Crawley Oct 15, 2021 at 11:34 a.m. UTC Updated Oct 15, 2021 at 11:34 a.m. UTC

An ether breakout above $4,027 should “not face much resistance at 4410, but likely surpass this and rally to targets near 4951, or targets above lie near 5826,” and “it’s anticipated that September highs should be exceeded, giving way to acceleration back to new all-time highs,” FSInsight said. Source link

“At a minimum, investors may benefit from understanding how managers and directors of cryptocurrency-exposed companies are monitoring developments in these informal governance frameworks. For companies with more significant exposure, investor interests may be better served by being more actively involved,” MSCI said. Source link

Policy An executive director has stressed that the BoJ has “no plans to issue a CBDC at this time,. By Jamie Crawley Oct 15, 2021 at 8:08 a.m. UTC Updated Oct 15, 2021 at 8:08 a.m. UTC

A comparison of SHIB to its predecessor, DOGE, is even more stunning: SHIB’s merely 23% down from its peak in May, according to CoinGecko. DOGE, perhaps the most well-known and popular of the dog coins, is down by more than 68% from its top in May. Source link

Over the past few months, however, exchange outflows have plateaued, as seen in the chart below. That suggests traders are gradually moving BTC back onto exchanges for trading purposes as bitcoin’s price rallies. Over time, a shift to exchange inflows could signal a peak in BTC’s price, similar to what happened in May. Source link

The SEC is reviewing around 40 bitcoin ETF filings with multiple decision deadlines on futures-linked products hitting next week. According to Bloomberg, the regulator is expected to approve at least some of them, clearing the way for trading to begin. Source link

Carter’s affection with tungsten runs so deep that he gives cubes out as Christmas presents, he told CoinDesk. People love it because it’s so surprisingly heavy, he added. He loves it because it is a “sophisticated” yet simple status symbol – far better than a watch. Tungsten has about the same density as gold, he pointed out. Source link

“As we said last quarter, we were going to look into accepting cryptocurrency and test it to see if it’s a faster, easier and cheaper solution,” the company’s CEO Mat Ishbia said in a press release. “Due to the current combination of incremental costs and regulatory uncertainty in the crypto space we’ve concluded we aren’t going to extend beyond a pilot at this time.” Source link

Coinbase (COIN) shares rose 6% Thursday after reports that the crypto exchange’s new non-fungible token (NFT) marketplace has a waiting list of more than one million people who signed up on the first day it was announced earlier this week. As of Thursday morning, the waiting list was at 1.35 million, which is four times the 300,0000 users that OpenSea, the world’s largest NFT marketplace, has, according to a note from financial services firm BTIG. “We believe the immediate and emphatic reaction of retail customers to its announcement on Tuesday that it would launch a non-fungible token (NFT) marketplace by the […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

Despite Gensler’s assurances, the perception of crypto regulation in the U.S. has been that it is disjointed, with no single federal regulator assigned to the overall industry. The SEC oversees securities and has spent years filing enforcement actions against initial coin offering tokens and startups accused of violating federal securities laws, while its counterpart, the Commodity Futures Trading Commission (CFTC), oversees crypto futures markets and certain illicit activities like market manipulation. Source link

Hari Sevugan, a former D.C. operative who has held senior positions on staff for multiple high-profile statesmen, will manage public-facing communications for Uniswap Labs, including “helping the company tell its story to existing users and new audiences and managing media affairs,” per a Uniswap spokesperson. Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

However, Braxton adds that a person’s risk tolerance also contributes to whether their “play money” starts at $50 or $5,000. Your risk tolerance is a combination of your personality and general “gut check” attitude toward volatility and, of course, your financial safety nets in place. Don’t go betting your entire life savings on crypto, Braxton notes, but if you can afford to participate, the potential benefits are big. Source link

While none of the seven members have yet to commence development of a retail CBDC, the central banks of all of the member countries (the European Central Bank in the case of France, Germany and Italy) have at least demonstrated intent to explore implementing one. Source link

Founding members and affiliates include consultancy Accenture, decentralized finance protocol Avalanche, blockchain developer Billon Group, IT and business consulting firm CGI Group, cryptocurrencies Electroneum, Quant and digital-payment service Ripple. Source link

KB Asset Management kicked off KBSTAR iSelect Metaverse, a passive fund that will follow metaverse-related indexes. KB follows the iSelect Metaverse Index, inclusion to which is determined by factors such as a company’s industry exposure, sales linkage and future growth potential. Source link

Stripe’s relatively modest hiring push (it has 4,000 employees) comes amid a surge in crypto payments integrations across online retailers and even social media platforms. Strike, the crypto startup behind Twitter’s new bitcoin tipping feature, is preparing to release its payments API in an aggressive bid for mass crypto adoption. Source link

China’s Blockchain Services Network is integrating Cypherium blockchain, according to a press release shared with CoinDesk. The BSN is a platform where developers can access development tools and deploy their decentralized applications. It has so far integrated Ethereum, Hyperledger Fabric, Tezos, ConsenSys Quorum, and Solana, among others. The network runs through cloud-based city nodes in China and abroad. The platform is split into a Chinese version and an overseas version. Cypherium is a Layer 1 permissionless protocol that promises to enable exchanges of central bank digital currencies, stablecoins, and cryptocurrencies like bitcoin. Being permissionless, it allows anyone to participate in its […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

A new derivatives platform announced raising $8.5 million on Wednesday, part of an effort to overcome the ecosystem-wide reluctance in decentralized finance (DeFi) to embrace more complex financial instruments. Strips Finance, a fixed-income platform, raised the funds via a token sale with participation from Multicoin Capital, Sequoia Capital India, Fabric Ventures and Morningstar Capital. Strips is planning to launch in November with initial functionality that will enable interest rate swaps (IRSs) via automated market makers (AMMs), the decentralized exchanges over which much of DeFi is transacted. In an interview with CoinDesk, Strips founder Ming Wu referred to IRSs as a “great […]

Following China’s sweeping crackdown on the crypto industry, the U.S. has taken the Bitcoin mining mantle for the first time – and industry CEOs don’t see the trend stopping anytime soon. “I foresee the U.S. continuing to play a leadership role in terms of share because of the jurisdiction,” said mining firm Bit Digital’s Chief Executive Officer Bryan Bullett in an interview with CoinDesk. “Nobody wants to operate in a region where they face existential risks,” he added. In fact, the Bitcoin network’s hashrate, the measure of computational resources used to conduct mining activities, has recovered from its July lows, even […]

“We believe that we are at the beginning of a digital renaissance in the world of art and content creation,” Visa’s Head of Crypto Cuy Sheffield wrote on Twitter. “New technologies emerging in the crypto ecosystem, like NFTs, have the potential to lower the barrier to entry for digital creators across the world to build their own small businesses.” Source link

Bolu said what’s most concerning is that Coinbase appears to be “lagging on almost every crypto innovation (including altcoins, derivatives, NFTs).” If this trend continues, he said, the crypto exchange could rapidly lose relevance similar to what happened to Netscape in the early internet era. Source link

Intentional collaboration with nuclear power could reduce the cost of electricity for crypto-mining operations. The cost to generate the electricity is a small fraction of the total, with various taxes, transmission costs and delivery costs accounting for the rest. Although nuclear power does not offer the lowest electricity generation cost, crypto mining would take full benefit of its reliability, energy density and geographical flexibility. Crypto-mining farms that use nuclear power, either through collocation with existing plants or by ownership of their own plants, would pay less for their carbon-free electricity than they would if they purchased carbon-intensive electricity from the grid. […]

Cunliffe said that because the crypto industry is growing rapidly and beginning to connect to the traditional financial system, with the emergence of leveraged players and in a mostly unregulated space, systemic risks, while limited now, could grow very quickly. Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

Stronghold Digital, the bitcoin mining company that converts coal waste into power for its operations, plans to raise between $94 million and $106 million in an initial public offering, according to a filing with the U.S. Securities and Exchange Commission (SEC). Source link

Unfortunately, getting rid of miners does not get rid of MEV, and users of the proof-of-stake network will still be subject to the whims of transaction ordering by those looking to extract value from liquidations, frontrunning and arbitrage. Eth1 clients will still be responsible for the creation of blocks, much like they are today. Therefore, the transaction ordering process will take place the same way, before the blocks are passed to Eth2 clients to finalize the bundled transactions. Source link

A trader essentially takes a loss on both the collateral and the futures contract. Thus, margin requirements increase at a faster rate with price declines, and longs get liquidated relatively quickly. That, in turn, puts further downward pressure on the market, leading to a deeper slide, also known as leverage washouts, like the one seen in May. Long liquidation refers to forced closure (forced selling) of bullish positions due to margin shortage. Source link

A Financial Stability Board (FSB) stocktake has found that stablecoins, or cryptocurrencies pegged to real-world assets, are currently not being used at a significant scale for mainstream payments. The finding was mentioned in an FSB roadmap and progress report for enhancing cross-border payments on Wednesday. The FSB published its first targets for improving cross-border payments in October last year. Wednesday’s progress report acknowledged that the market capitalization of existing stablecoins has continued to grow in the last two years, and that stablecoins could contribute to facilitating better cross-border payments. The FSB is a Bank for International Settlements-funded entity that provides input […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

Youssef describes Paxful as a “barter for money,” where users can exchange among 400 different payment forms, ranging from crypto tokens to gift cards. More than just a digital money exchanging tool, Paxful is a platform for the historically underserved to get online and get transacting, despite the lack of access through their governments or banks. Source link

To avoid the risks of cryptoization, the report suggested that countries enact policies that could help curtail growing crypto demand, including strengthening monetary policy, safeguarding the independence of central banks, and implementing “effective legal and regulatory measures to disincentivize foreign currency use.” Source link

The 21 million cap may not be encoded into bitcoin permanently, but it’s become a definitional aspect of it. If it were to change, that wouldn’t be Bitcoin. It’s part of the brand, yes. But also what believers are buying into – that bitcoin separates itself from an inflationary economy that sees primarily the rich get richer. That’s precisely what Dimon fails to grasp. That bitcoin is not just code, but a community. Source link

Bitcoin mining profitability accelerated during the first days of October, which also led to a brief rise in some miner share prices, although performance is mixed. Marathon Digital (NASDAQ: MARA) stock is up about 64% over the past three months, compared to an 11% decline in Riot Blockchain (NASDAQ: RIOT) and a 69% rise in BTC during the same period. Source link

Coinbase’s digital wallet has received the third-most complaints among companies operating such wallets over the past four years. Coinbase received 755 complaints from 2017 through April 2021, according to the Massachusetts Student Public Interest Research Group (MASSPIRG), the consumer research and consumer advocacy group that reviewed complaints filed with the Consumer Financial Protection Bureau (CFPB). The CFPB first began receiving complaints about digital wallets in 2017. Complaints against Coinbase and other cryptocurrency exchanges have been rising steadily. Coinbase received the most complaints among the top crypto exchanges in the U.S., with 1,060 overall over a year-long period starting in May 2020, […]

Bitcoin (BTC) buyers are exiting positions as overbought signals appear on the charts. Resistance is seen at around $58,000-$60,000, the level that preceded a price drop in May. This time, however, pullbacks could be limited toward the $50,00-$52,000 support zone. Source link

“If you’ve tried to create or purchase an NFT, you’ve probably found the user experience lacking,” Coinbase said in a blog post. “Coinbase NFT will make minting, purchasing, showcasing and discovering NFTs easier than ever. We’re making NFTs more accessible by building intuitive interfaces that put the complexity behind the scenes.” Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

The company’s latest purchase will add 450 PH/s in computing power, or almost 45% of CleanSpark’s current capacity, once the machines are fully operational. CleanSpark currently operates over 10,000 miners. The total number of miners slated for delivery over the next 12 months now totals 24,580. Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

Bitcoin’s rally looks to have legs as the ascent is backed by a pickup in blockchain activity and a long-term technical indicator which is about to turn bullish. While bitcoin has gained 30% this month, the user activity on the network, as measured by the seven-day average of the number of active entities, has increased 19% to 284,179, according to data provided by Glassnode. An increase in network adoption along with a price increase is said to confirm the uptrend. According to Glassnode, “more active market participants has historically correlated with growing interest in the asset during early-stage bull markets.” Glassnode […]

Last Wednesday, the good people over at TechCrunch ran a story about a company called Visionrare, which is essentially trying to gamify the process of investing in startups. It’s a play on the “fantasy betting” concept that’s already popular in the world of sports and culture. Fantasy football brackets let fans make predictions without actually putting any money down, and fantasy stock markets let investors hone their skills in a simulated environment, where the stakes aren’t quite so high. There’s a similar system for betting on the outcome of “The Bachelor” TV show. Visionrare is trying to do the same thing […]

Lastly, and perhaps most importantly, a new feature of bitcoin mining has begun to gain traction, to the benefit of power grid operators. Bitcoin miners represent “interruptible load,” which means that they can deal with power outages without suffering adverse impacts to their business. Of course, they prefer to have power all of the time, but nothing catastrophic happens when they lose power, unlike other industrial consumers such as hospitals, high-end data centers, factories and smelters. Source link

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

China’s Blockchain Services Network is set to launch portals for its international versions in Turkey and Uzbekistan, according to a press release. Red Date Technology, the BSN’s architect firm, signed an exclusive agreement with consultancy Turkish Chinese Business Matching Center (TUCEM), according to the press release shared with CoinDesk by Red Date. The BSN is a Blockchain-as-a-Service platform that is accessible through cloud nodes in China and abroad. It aims to make the development of decentralized applications cheap and accessible, and in the process also become the de facto infrastructure for a new “internet of blockchains.” Supported by Chinese government entities, […]

Nassim Eddequiouaq and Riyaz Faizullabhoy are joining the venture giant’s crypto-focused arm from Facebook, where they co-created the Novi wallet’s crypto custody infrastructure. Oct 12, 2021 at 12:56 a.m. UTC Updated Oct 12, 2021 at 12:56 a.m. UTC

Lick it up. Kiss bassist Gene Simmons tweeted in February that he had bought $300,000 of Cardano’s ADA, writing that the cryptocurrency was “one I believe in.” The conviction has paid off for the rocker, with ADA’s price more than doubling since then. Based on back-of-the-envelope math, the token hoard would be worth more than $700,000 now. ADA is one of 14 cryptocurrencies that Simmons owns, he said Sunday in an interview on the Altcoin Daily YouTube channel. “I like Cardano, although it’s an idiot name,” Simmons said. “Get rid of that thing. Just call it ADA. Call it by the […]

Crypto-powered digital payment service Ripple has made a $44 million joint Environmental, Social, and Governance (ESG) investment with Nelnet (NYSE: NNI) Renewable Energy into one of Nelnet’s solar energy funds, the firms announced Monday. Ripple will be the majority investor in the tie-up, which will fund solar energy projects throughout the United States. The solar projects financed by the joint venture are estimated to offset over 1.5 million tons of carbon dioxide over 35 years, or about the same amount of carbon dioxide emissions from consuming 154 million gallons of gasoline, according to the companies. “Guaranteeing a clean energy future is […]

However, Ethereum-focused funds, which had gained in recent months as bitcoin funds were mostly flat to down, saw minor outflows last week, totaling $14 million. Funds focused on alternative blockchains Litecoin, Ripple and Polkadot also saw outflows last week. Source link

“The futures-based ETF, if approved, will be an inefficient product,” Ilan Solot, global market strategist at Brown Brothers Harriman, told CoinDesk. “Because bitcoin’s futures curve is typically in contango, the fund is going to suffer from a negative rollover.” Source link

On Monday, the U.S. wing of Sam Bankman-Fried’s crypto empire said its new marketplace, FTX NFTs, will allow users to trade, mint, auction and authenticate Solana-based NFTs. It plans to soon support Ethereum NFTs, the home to the bulk of non-fungibles trading. Source link

Morehead pointed out that the Wall Street adage “buy the rumor, sell the fact” is currently playing out in the crypto industry. He highlighted how bitcoin rallied over 2,400% before the day that bitcoin futures were listed on the Chicago Mercantile Exchange in 2017, followed by an 83% bear market . Source link

On the flip side, mining difficulty, which is a variable gauge that automatically adjusts under the Bitcoin blockchain’s code to keep the network running smoothly, is also predicted to be higher in the fourth quarter by Luxor. “We will continue to see successive upward difficulty adjustments, though none will be as drastic as the largest positive adjustments we experienced in Q2 and Q3,” the report said. A higher difficulty is usually an earnings headwind for the miners as new bitcoin becomes harder to find for the mining rigs. Source link

Elliptic, which helps track transactions on blockchains, has raised $60 million in a Series C funding round led by Evolution Equity Partners. The money will be used for research and development (R&D) and international growth. The funding will also help with expansion of Elliptic’s team, especially in the U.S. London-based Elliptic said participating investors included SoftBank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group. The fundraising underlines the mounting interest in the transaction-analysis industry as companies strive to comply with anti-money laundering rules and track the proceeds from successful […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

Bitcoin jumped to a fresh five-month high early Monday, extending the two-week price rally even though Friday’s weak U.S. jobs report failed to dampen expectations for Federal Reserve (Fed) tapering in November. The market also turned a blind eye toward the data showing supposedly bearish positioning by leveraged funds in the futures market. The cryptocurrency rose to $57,000 during the early European hours, hitting the highest since mid-May, according to CoinDesk 20 data. Prices rose 13% in the week ended Oct. 10, registering its second straight double-digit weekly gain. Bitcoin’s continued resilience to usually bearish macro factors could be attributed to […]

Jonathan Toebbe, an engineer assigned to the Naval Nuclear Propulsion Program, held an active national security clearance through the U.S. Department of Defense, which afforded him access to sensitive information. The charge alleges the pair violated the Atomic Energy Act. The act prohibits the communication, transmission, or disclosure of restricted nuclear data with the intent to injure the U.S. or to secure an advantage to any foreign nation. Source link

Swash, a blockchain startup that allows internet users to own their data and earn money from it, raised $4 million in a funding round led by KuCoin, Outlier Ventures and Streamr. The funding round, which was announced Monday, will drive the Swash data-monetization browser extension and help expand a “Data Union” marketplace protocol. Swash also plans to introduce a line of data science and developer tools later this year so that developers and businesses can build on top of the platform. Giant internet companies like to hoard data, which has been called the crude oil of the digital economy. Tools like […]

“From October 11, 2021, Antminer will stop shipping to mainland China (excluding Hong Kong and Taiwan),” according to a statement from Bitmain’s official WeChat account. The move doesn’t affect Bitmain’s overseas customers and the company said that it has increased the supply of Antbox to speed up the construction of overseas mines. Source link

Here’s an example, albeit on a bigger scale, of how one firm handled a major buy of bitcoin: Last year, when MicroStrategy purchased $450 million in bitcoin, the company did so in smaller clips from Coinbase over the course of five months, not five minutes. While the price eventually moved up over the course of those several months, each trade didn’t cause it to shoot up with the same kind of ferocity seen this past Wednesday, thus keeping CEO Michael Saylor’s costs from, well, slipping away from him as he bought. Source link

“This partnership is a testament to Bakkt’s strong position in the digital asset marketplace, to empower consumers to enjoy their digital assets in a real-time, secure, reliable manner,” Bakkt CEO Gavin Michael said in a press release. “Additionally, partnering with Google Cloud will enable us to continue to build a best-in-class, innovative platform that can undoubtedly scale to meet the needs of millions of users.” Source link

This episode is sponsored by NYDIG. Download this episode On this edition of “Long Reads Sunday,” NLW reads “Revolution, Macro and Micro: Three Ways to Look at a Bitcoin Investment.” Blumberg argues that as bitcoin and digital assets get more mainstream, the industry would do well to better understand the different philosophies that pull in people. See also: BlockFi Files for Bitcoin Futures ETF “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. […]

“Without proper regulation, these developments could amplify international shocks and undermine financial resilience globally,” Panetta said. “We could see risk-biased technological change, whereby the digitalization of finance favors business models that are riskier for the global economy.” Source link

The reappearance of crypto mining on the list is aligned with the State Council’s appeal to crack down on crypto trading and mining in May, and a more enforceable and extensive ban from the People’s Bank of China on trading and mining in September. Just two weeks ago, Chinese authorities ordered a fresh crackdown on crypto mining and outlawed virtually all crypto trading activities Source link

“Bitcoin’s allure as an inflation hedge” is drawing institutional investors back to the crypto market, JPMorgan’s Nikolaos Panigirtzoglou wrote in an Oct. 6 research note to clients. “There are tentative signs that the previous shift away from gold into bitcoin seen during most of Q4 2020 and the beginning of 2021 has started reemerging in recent weeks,” he said. Bitcoin prices have surged above $50,000 recently, climbing 85% this year. The price of ether, the native currency of the Ethereum blockchain, has rose 393% year to date. Meanwhile, gold prices are hovering below $1,800 per ounce, falling 6.5% in 2021. Panigirtzoglou […]

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. @2021 CoinDesk English ​ Source link

The U.S. Securities and Exchange Commission (SEC) has approved an exchange-traded fund (ETF) that aims to provide investors with exposure to publicly traded companies with exposure to bitcoin. According to a prospectus filed Oct. 1, the Volt Crypto Industry Revolution and Tech ETF will track the performance of so-called “Bitcoin Industry Revolution Companies” – publicly listed companies that either hold a majority of their net assets in bitcoin, like MicroStrategy (NASDAQ: MSTR), or that make a majority of their profits through mining or building mining equipment, like Marathon Digital Holdings (NASDAQ: MARA). At least 80% of the fund’s net assets will be […]

It’s just what it sounds like: a standard way to use an Ethereum wallet that you own as an identifier across multiple services. If your first thought is, “my name isn’t even attached to my ETH wallet,” that’s exactly the point: Using a cryptographic marker as an identity means the user, not the identity provider, has total control over what information is associated with it. Eventually, you’ll be able to decide, for instance, whether a particular service needs your name, proof of your age, or a glimpse of your ETH balance. You won’t have to send all that information to every […]