Day: September 23, 2021

Basel draft rules make crypto too costly for banks to trade, says industry

Nine banking industry associations have submitted a letter to the Basel Committee on Banking Supervision (BCBS) in response to its proposal to introduce stringent capital requirements for banks looking to hold crypto assets on their books. In June of this year, the BCBS had published a consultation paper which assigned a 1,250% risk weight to Bitcoin (BTC), meaning that banks would need to hold $1 in capital for each $1 worth of exposure they have to Bitcoin. In their letter this week, industry groups — among them, the derivatives associations…

Just another bubble? Bitcoin price tops follow Chinese debt cycles, new research shows

Bitcoin (BTC) may be hitting new all-time highs, but it may just be another bubble, new research suggests. Unveiling a theory that could well rile Bitcoin bulls, analytics guru Material Scientist revealed what seems to be a strong correlation between Bitcoin price cycles and Chinese debt cycles. Casting doubt on the power of Bitcoin halvings With BTC/USD hitting its latest all-time high in April 2021, expectations are high that another will come before the end of the year. Looking back at Bitcoin’s history, Material Scientist shows that previous cycle tops in…

Colnago Turns to Blockchain to Counter Bicycle Theft

Bike manufacturer Colnago plans to use blockchain technology to counter theft and counterfeiting. The Italian company will be the first bicycle manufacturer to link its products to a distributed ledger, according to an announcement Thursday. Blockchain technology will be used to provide customers with proof of validity and ownership to combat theft and counterfeiting on all Colnago frames starting next year. Colnago has partnered with Italian tech firm MyLime, the developer of a radio-frequency ID tag linked to the bike frame and, by extension, its digital passport that is linked…

Infrastructure Provider Blockdaemon Raises $155 Million With Participation of Goldman Sachs – Bitcoin News

Blockdaemon, a blockchain infrastructure provider, has raised $155 million in its Series B funding round, which will aid its expansion plans to make acquisitions in the crypto infrastructure market. The funding round had the participation of Goldman Sachs, Softbank Vision Fund 2, Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital, among others. Blockdaemon Raises $155 Million in Series B Funding Round Blockdaemon, one of the leading node infrastructure providers, has raised $155 million in its latest Series B funding round. The company, which specializes in providing node…

Did The SEC’s Gary Gensler Threaten Crypto And DeFi In The WaPo Interview?

Come on, Gary Gensler didn’t threaten the industry. Of course he didn’t, but… maybe he did? If a mafia boss repeated the exact same words, there would be no doubt. And we’re quoting him verbatim. This is exactly what the Securities Exchange Commission’s  Chairman told The Washington Post. They had Gary Gensler as a guest in their “The Path Forward” series. The host was David Ignatius. They talked about “those five- or six thousand projects” that are “raising money from the public.” Related Reading | Erik Voorhees: Selling Unregistered Securities…

Ripple to Pilot Bhutan’s CBDC Using Private Ledger — CoinDesk

The private ledger, which is based on the open-source XRP Ledger, claims to be 120,000 times more efficient than standard proof-of-work blockchains making it desirable for a carbon-neutral approach, according to the release. The ledger seeks to provide central banks with “flexibility” and “control” without sacrificing financial stability and monetary policy objectives. Source BhutansCBDCCoindeskLedgerPilotPrivateRipple CryptoX Portal

BitMEX Joins Binance, Bybit in Removing Korean Language Ahead of Regulatory Deadline

BitMEX joined the ranks of crypto exchanges removing Korean language materials from its site ahead of a regulatory deadline that will likely banish dozens of exchanges from South Korea. “With the introduction of new local regulatory requirements in South Korea on 24 September 2021,” BitMEX will remove all Korean language from its site and trading platform, the exchange said in a Thursday blog post. This is likely the clearest mention of the Sept. 24 deadline among three foreign exchanges that have made similar moves in the past two months. Binance…

Lyn Alden Ethereum Prediction! Professional Investor Explains ETH Cryptocurrency Investment 2021

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Professional Investor (Lyn Alden) Explains Ethereum Investment in 2021 🔥 Hit Like, Share, and Subscribe for more daily cryptocurrency news! Read Lyn’s Full Analysis: Raoul Pal Explains How 1 Ethereum Could Reach OVER $20,000 Per Coin: Tyler Winklevoss Explains How 1 Ethereum Could Reach OVER $75,000 PER COIN: Altcoin Daily, the best cryptocurrency news media online! Follow us on Twitter: Timestamp: 0:00 – Introduction (Watch Whole Video!) 1:38 – Who is Lyn Alden? 3:46 – An Economic Analysis of Ethereum (Prediction) 7:16…