Month: September 2021

Lil Nas X, Grimes Featured in TikTok NFT Collection

TikTok has announced a collection of non-fungible tokens (NFTs) featuring contributions from Grimes, Lil Nas X, Bella Poarch and more. Entitled “TikTok Top Moments,” the collection is the viral social media app’s first whole-hog foray into the world of blockchain-based digital collectibles. The NFTs also represent a partnership with Immutable, a layer 2 network built on top of Ethereum. It’s designed to make transactions a little more user-friendly, promising “zero” transaction fees and “100% carbon-neutral NFTs.” (Though, because Immutable is still engaged with Ethereum, it’s still incentivizing activity on an…

New Altcoin Built on Solana Is Surging After Receiving Support From Crypto Exchange Binance

A new altcoin built on the Solana (SOL) network is surging after being listed on the global cryptocurrency exchange Binance. Launched in December of last year, the Bonfida (FIDA) product suite was built with three main objectives targeting the future of decentralized finance (DeFi) within the Solana realm.   According to the Binance announcement, “Bonfida is an ecosystem built on Solana and consists of products including: An on-chain perpetual swap. Solana name service for auctioning and transacting readable Solana addresses. Bonfida Bots which allow users to automate trading strategies and…

Crypto Exchange Kraken To Pay $1,250,000 Fine for Providing Illegal Leveraged Trading to US Customers

Crypto exchange Kraken must pay a hefty fine for providing illegal trading services in the US. In a statement published on Tuesday, the Commodity Futures Trading Commission (CFTC) says that it issued an order requiring Kraken to pay $1.25 million in civil monetary penalties after finding that the exchange offered margined retail commodity transactions in Bitcoin (BTC) and other digital assets to ineligible US customers.   The order also requires the exchange to cease and desist from further violations of the Commodity Exchange Act (CEA). The CFTC says that between…

Multicoin Capital Hires First General Counsel as Talk of Crypto Regulation Ramps Up — CoinDesk

CryptoX – Cryptocurrency Analysis and News Portal The New York-based Xethalis, formerly of Chapman and Cutler LLP, has long tackled crypto’s square-peg-round-hole regulatory status. He worked with the Winklevoss brothers in 2012 to submit the first bitcoin exchange-traded fund (ETF) application to U.S. regulators (the Securities and Exchange Commission (SEC) has still yet to approve a single bid). Source The post Multicoin Capital Hires First General Counsel as Talk of Crypto Regulation Ramps Up — CoinDesk appeared first on CryptoX. CryptoX Portal

Move Over, Carry Trade, These Retail-Friendly DeFi Options Strategies Yield 12%-30% — CoinDesk

A popular traditional market strategy, “covered calls” involve selling out-of-the-money (OTM) call options, or those with strike prices above the current market level, while owning the underlying asset. It is typically seen as a neutral to bullish strategy, because the upside is capped. A call option gives the holder the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. A call option buyer is implicitly bullish, while the seller anticipates a price drop or consolidation and receives a premium…

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Gary Gensler Says Crypto Is a ‘Wild West.’ Others See Pure Capitalism — CoinDesk

That is happening more and more in crypto. In the Poly Network situation, the hacker may have feared being turned in to financial authorities, which seemed plausible – a point in favor of the regulatory state. But the hacker or hackers may also have been concerned about lasting reputational damage in the industry or realized that their stolen funds were blacklisted, and made unusable, by exchanges. In other words, market forces were at work. Source

Billionaire Orlando Bravo Reveals He Owns Bitcoin And Why He’s ‘Very Bullish’

Billionaire Orlando Bravo recently revealed his stance on crypto. Talking to CNBC, Bravo revealed that he indeed held bitcoin and held a very bullish stance on the future of the digital asset. The billionaire appear at the Delivering Alpha conference where he openly expressed his love for crypto. Bravo highlight some of the best features of cryptocurrencies, exclaiming, “How could you not love crypto?” Bitcoin Is Here To Stay Although already quite valuable, the billionaire sees more growth in the future of the currency. Institutional investors are yet to completely…

Binance Adds Veteran IRS Investigators in Push to Strengthen Compliance — CoinDesk

At the IRS-CI, Price headed international investigations into individuals and groups looking to use cryptocurrency for illegal intent, including the successful prosecution of the operator of Helix, a darknet mixing service that sent out transactions in mixed batches to mask the identity of senders. In his 15 years in law enforcement and intelligence, he has worked on cases involving money laundering, financial crimes and counterterrorism, among other areas. Source

Avalanche’s Trader Joe DEX to Kick Off $20M Incentive Program

Avalanche-native decentralized exchange (DEX) Trader Joe announced Thursday the launch of a $20 million liquidity mining incentive program in collaboration with the Avalanche Foundation. The incentives will be applied “across the entire platform” but will focus in particular on “growth in native markets,” per a copy of the release provided to CoinDesk. The incentives will consist of $10 million in JOE tokens and $10 million in AVAX. The $20 million in incentives is especially large given the current size of the project – accounting for 7% of the JOE token’s…