Month: January 2022

Here is how one algorithmic indicator anticipated multiple phases of FXS’ protracted rally

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Frax Share (FXS) has been one of the few altcoins to pull off a dominant price performance amid the down market of late 2021 to early 2022. In the month between Dec. 14 and Jan. 14, FXS was up 128% against the U.S. dollar and 159% against Bitcoin (BTC). In addition to this impressive feat, FXS topped the charts of historically bullish trading conditions on multiple occasions throughout this period. What is behind the token’s recurring strong trading outlook? Governing a stablecoin ecosystem FXS is the utility token underpinning the…

Crypto Exchange FTX Establishes $2B Fund to Invest in Crypto Startups: Report

Crypto exchange FTX has set up a $2 billion fund to invest in crypto-industry startups, the Wall Street Journal reported, citing Amy Wu, who heads the fund. The FTX Ventures fund is one of the industry’s largest, the Journal said. Investments could be as low as $100,000 and as high as hundreds of millions of dollars. In October, FTX raised $420.7 million and was valued at $25 billion. Wu told the Journal she is particularly interested in crypto gaming companies, as well as insurance and security products. Source

WTF token launch drains 58 ETH

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Fees.wtf is a simple service that shows Ether (ETH) users their lifetime spending amount on Ethereum blockchain transactions by measuring gas. You plug in your wallet address on its website, and it tells you how much gas you spent.  The project released its WTF token in an airdrop Friday. Essentially, users were able to claim WTF tokens as well as a “Rekt” nonfungible token (NFT) for 0.01 ETH. The Rekt NFT grants lifetime access to the pro version of Fees.wtf. According to its Discord announcement, the initial launch planned to offer 100…

NYCB and Group of Banks Join to Launch USDF Stablecoin – Bitcoin News

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A group of U.S.-based banks is launching their own stablecoin, USDF. The stablecoin will be issued by the USDF Consortium, which will allow its members (financial and banking institutions) to issue USDF. The proposed stablecoin will be the first currency of its kind to be minted by FDIC-insured institutions and compliant with the recommendations on the use of stablecoins made by the president’s working group. USDF Consortium to Launch Stablecoin The USDF consortium, a membership-based group of banks, is launching the first bank-minted stablecoin, also called USDF. According…

Miners Going Public Amid Bitcoin Slump Face Tough Months Ahead

However, for investors to really pay up for a company, they will need to see more longer-term strategy from the companies, said Eric F. Risley, managing partner of crypto mergers and acquisitions firm Architect Partners. Risley added that crypto miners that can operate most efficiently are most likely to thrive amid crypto markets’ fluctuations. Source

North Korean Hackers Stole $400M in 2021, Mostly in Ether

North Korean hackers stole almost $400 million worth of digital assets from crypto platforms last year, mostly in the form of ether, according to a Chainalysis report published on Thursday. For the first time, ether accounted for most – 58% – of the stolen funds, according to the report. It was followed by altcoins and ERC-20 tokens, with bitcoin at just 20% of the total, Chainalysis said. The increased variety of tokens has led the hackers to step up their efforts to launder their spoils, the report said. The typical…

PureFi x Kirobo Are Going to Make an Offer You Can’t Resist

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Investigate The Source of The Sender’s Funds and Retrieve Crypto Transfers Sent in Error The beauty of cryptography lies in endless opportunities, and that’s attractive to many. Seeing the recent shifts in capital flow, we can track the interest switching in favor of Decentralized Finance (DeFi). Although it is risky due to its high volatility, being such a young market like DeFi that’s also unregulated carries some other, more significant threats. The true danger lies in the lack of boundaries among the endless opportunities, which eventually traps DeFi in becoming…

Revolut Launches Banking Services in Spain Featuring Deposit Insurance – Fintech Bitcoin News

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Revolut, a leading fintech platform and neobank, has received a special banking license to operate in Spain. User deposits are now insured up to €100K, with the coverage being provided by Deposit and Investment Insurance, a Lithuanian state company. The company, which now has over 800,000 customers in Spain, expects to grow its userbase with this new development. Revolut Customers in Spain Can Upgrade to Revolut Bank Revolut, one of the biggest fintech neobanks in Europe, has received a special banking license in Spain, and can now offer…

NEAR Protocol raises $150M to promote Web3 adoption

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Proof-of-stake blockchain NEAR Protocol has raised $150 million in seed investments to accelerate the adoption of Web3 technologies. The team announced that the fund would be used to develop regional hubs and raise awareness for blockchain and decentralized tech. NEAR Protocol aims to use the fresh funds to foster the adoption of Web3. According to the announcement, the funding will be used to “help billions of people learn and use blockchain.” With this, projects building on the NEAR blockchain will have the opportunity to connect with new audiences. The investment…

70% of US crypto holders started investing in 2021: Report

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The vast majority of cryptocurrency owners in the United States made its first-ever crypto investments just within last year, according to a new survey. About 70% of crypto hodlers in the U.S. started investing in cryptocurrencies like Bitcoin (BTC) in 2021, according to the Crypto Perception Report 2022 by Huobi Group, the operator of major crypto exchange Huobi. The company polled about 3,100 American adults in mid-December 2021 to assess respondents’ knowledge of crypto, what they think about the crypto market rise in 2021 and more. The survey found 68%…