Month: January 2022

Ethereum options data shows pro traders expect strong resistance at $3,600

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Ether (ETH) price has bounced 13% from its Jan. 9 low at $2,950, but it seems premature to call the move a cycle bottom. Instead, the larger bearish movement has prevailed and although it looks primarily correlated to Bitcoin (BTC) price, regulatory concerns and a tighter United States Federal Reserve policy have also been blamed for the movement. BTC and Ether have been under pressure since regulators focused their attention on stablecoins. On Nov. 1, the U.S. Treasury Department urged Congress to ensure that stablecoin issuers are regulated similarly to…

Coinbase Tries to Catch Up to Foreign-Based Rivals With Move Into Derivatives

Derivatives marketplace CME Group could end up being a competitor in the U.S. for Coinbase’s crypto derivatives business, according to Owen Lau, a research analyst at Oppenheimer. CME told Oppenheimer on an earnings call that it has an edge in bitcoin derivatives given its offerings across many asset classes, its risk management experience and its highly regulated platform. Still, Coinbase’s customer base can help the exchange “draw trading volume and create [a] deep liquidity pool,” noted Lau, who has an outperform rating on Coinbase’s stock. Source

Channel Wants Content Creators to ‘Squad Up’ via Web 3

For almost two years now, the artist couple Holly Herndon and Mat Dryhurst has been running a podcast called “Interdependence” – a kind of short-form educational space for the crypto curious. Pitched as a “$5 grad school,” it has featured conversations with artists, curators and researchers at the bleeding edge of blockchain technology, along with critiques of the so-called “platform internet,” or the state of the web as it exists today. Acolytes of the podcast are everywhere, in crypto. And Herndon and Dryhurst aren’t the only game in town –…

Aside from Shark Tank, Mark Cuban says 80% of his new investments are in crypto

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Comedian and former Daily Show host Jon Stewart said Dallas Mavericks owner and billionaire Mark Cuban broke down the intricacies of the crypto space in practical terms. Speaking to Stewart on a Thursday podcast, Cuban said he didn’t focus on the price speculation around cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE), comparing it to “gamesmanship” akin to that of stocks. The Dallas Mavericks owner explained some of the basics of the space to Stewart, calling it “decentralized and trustless,” with token holders having a “typically equal vote” to determine the…

[SPONSORED] Circle, USDC and Dharma: Powering the Next Wave of DeFi Access

Decentralized Finance — or DeFi — has experienced immense growth, with total value locked in smart contracts passing $250 billion in November 2021. This parallels the growth of USDC, which recently passed $40 billion in circulation, based largely on growing demand from DeFi market participants. Join this exclusive webinar to hear how the industry is poised to drive DeFi’s next wave by reaching new participants, including customers who lack access to traditional investment opportunities. Guests include Joao Reginatto, VP of Product at Circle, along with Dharma CEO Nadav Hollander. Source

Palau President Talks Stablecoin Plans Following Island Nation’s ‘Digital Residency’ Rollout

CryptoX – Cryptocurrency Analysis and News Portal “One of the challenges that we have in Palau is, it’s hard to get pennies, it’s hard to get quarters,” Whipps said. “Cash shortages are a real thing here, so what digital wallets would really provide is freedom, freedom from having to go to the bank.” Source The post Palau President Talks Stablecoin Plans Following Island Nation’s ‘Digital Residency’ Rollout appeared first on CryptoX. CryptoX Portal

Here’s what you need to know about CZ’s $96B net worth, Jan. 6–13

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Binance CEO Changpeng Zhao, also known as “CZ,” is now the world’s 11th richest person, according to Bloomberg. The crypto entrepreneur has amassed a $96 billion fortune on the back of his booming exchange business and the rapidly appreciating value of Binance Coin (BNB). CZ’s wealth offers a startling reminder of just how lucrative crypto has become for early adopters. It’s also a sign of things to come as digital assets become more mainstream over the next decade. (If you’re reading this, there’s a good chance you’ll also be counted…

Industry players respond to Vitalik Buterin’s thoughts on cross-chain ecosystems

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Last week, Vitalik Buterin, Ethereum (ETH)’s co-founder, voiced his disapproval regarding the emergence of cross-chain bridges, citing security vulnerabilities due to their interdependency. In the days that followed, however, developers working on cross-chain technologies largely dismissed his skepticism. In a statement to Cointelegraph, Kadan Stadelmann, chief technology officer of atomic swap blockchain Komodo, responded to Vitalik’s critique: “What we ultimately need is true decentralization. For example, instead of relying on one or two trusted bridges that have a single point of failure, it would be better to work towards a…

Russia’s National Finance Association Calls for Legalization of Crypto Investments – Finance Bitcoin News

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The main finance industry association of Russia has urged authorities to reconsider a position against crypto investments in the nation’s financial market strategy. The organization insists that the crypto investments of Russians should be brought out of the “gray zone” instead of being banned. Finance Industry Body Urges Government to Regulate Operations With Crypto Assets The Russian National Financial Association (NFA) has issued a call to amend the country’s Strategy for Development of the Financial Market of the Russian Federation Until 2030 in the part concerning investments in cryptocurrencies, RIA…

Meet the Bitcoin Legal Defense Fund

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This episode is sponsored by Nexo, Abra and FTX US. Download this episode On today’s episode, NLW covers: The new Bitcoin Legal Defense Fund from Jack Dorsey and others Crypto nuggets from 250 pages of former Treasury Secretary Steven Mnuchin’s emails The latest out of the Agriculture and Energy committees in Congress as it relates to crypto regulation Crypto hedge funds massively outperform TradFi See also: Dorsey Proposes Non-Profit Bitcoin Legal Defense Fund for Developers “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by…