Day: December 16, 2021

Open-Source Oracle DIA announces Integration with Fantom’s Opera Mainnet

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The open-source oracle platform for decentralised finance DIA announced today its entry into the Fantom ecosystem by making its data provision available on Fantom’s Opera Mainnet. This new integration will enable teams operating on Fantom to develop use cases such as stablecoins, stakings rewards, lending and borrowing, DEXs and many more. Fantom is a fast, scalable, and secure layer-1 blockchain platform, built with Fantom’s aBFT consensus protocol. The Fantom Network is compatible with Ethereum’s Virtual Machine (EVM), allowing developers to deploy and run Ethereum dApps on Fantom. On Fantom, transactions…

Fed Chair Jerome Powell Dismisses Cryptocurrencies as Financial Stability Concern but Warns They’re Risky – Regulation Bitcoin News

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Federal Reserve Chairman Jerome Powell says that he does not see cryptocurrencies as a financial stability concern. However, he noted that they are risky and “there’s big consumer issues for consumers who may or may not understand what they’re getting.” Fed Chair Powell Says Cryptos Are Risky but Currently Not a Financial Stability Concern Fed Chairman Jerome Powell talked about cryptocurrency in a press conference Wednesday. Commenting on whether cryptocurrencies are a threat to the country’s financial stability, he said: I don’t see them as a financial stability concern at…

New Robinhood Feature Allows Users To Gift Crypto To Family And Friends

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Trading app Robinhood has announced a new feature that would allow users to gift cryptocurrencies to their friends and family. This comes as the holiday season is in full bloom and people are scrambling to get the perfect gifts for their family and friends this Christmas. This new feature will allow for the seamless transfer of crypto from one user to another inside the Robinhood app. Crypto Gifting Made Easy Robinhood announced via a blog post on Thursday that it was rolling out a new feature on its platform. The…

Bitcoin pushes for $50K! Is the downtrend finally over?

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Join Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman as they break down the latest news in the markets this week. Here’s what to expect in this week’s markets news breakdown:  the price of Bitcoin (BTC) climbed to $49,000 after news that the Federal Reserve would raise interest rates and curtail its bond-buying program. Why did this announcement have an impact on Bitcoin? Top executives from six major crypto companies faced the United States House of Representatives’ Financial Services Committee during a special hearing on…

Relying On Data Analytics Can Help You Avoid Rug Pulls And Scams

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A sizable portion of this world’s population has grown to love trading, buying and selling with all kinds of cryptocurrency assets as well as NFTs. This makes sense too as after all, who wouldn’t want to be a part of one of the fastest-growing industries of all time and earn a lot of money while doing so? However, with such popularity also comes the risk of investing in certain cryptocurrency projects which may turn out to be disingenuous and fraudulent. Rug pulls A ‘rug pull’ occurs when developers steal funds…

Kazakhstan’s central bank reports results on CBDC pilot project

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Kazakhstan, the country behind one of the largest sources of Bitcoin mining hash power, has released the results of a pilot program for its digital tenge.  According to a Wednesday report, the National Bank of Kazakhstan, or NBK, said it had confirmed the possibility of implementing a retail central bank digital currency, or CBDC, based on distributed ledger technology. In addition, the central bank tested how Kazakhstan’s citizens might use a digital tenge for offline payments as well as its programmability. In a series of hypothetical scenarios, the central bank…

Nexo partners with Three Arrows Capital to launch NFT lending & art financing service

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Nexo, the crypto borrowing and exchange platform, has launched an NFT Lending Desk in partnership with NFT hedge fund Three Arrows Capital. The new lending desk caters to over-the-counter, or OTC, clients to offer crypto credit backed by NFTs. Nexo is one of the first crypto lenders to allow customers to borrow stablecoins, ETH, and other cryptocurrencies using certain NFTs as collateral.  The company stated that in its initial iteration, the service will accept Bored Ape Yacht Club and CryptoPunks NFTs, with more collections on the way. Clients can also…

Fish food? Data shows retail investors are buying Bitcoin, whales are selling

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Bitcoin (BTC) staged an impressive recovery after dropping to its three-month low of $42,333 on Dec. 4, rising to as high as $51,000 since.  The BTC price retracement primarily surfaced due to increased buying activity among addresses that hold less than 1 BTC. In contrast, the Bitcoin wallets with balances between 1,000 BTC  and 10,000 BTC did little in supporting the upside move, data collected by Ecoinometrics showed. “Bitcoin is still stuck in a situation where small addresses are willing to stack sats [the smallest unit account of Bitcoin], while…