Day: February 8, 2022

QR Assets launches DeFi ETF on Brazilian Stock Exchange

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Brazilian crypto asset manager QR Assets has launched a decentralized finance exchange-traded funds, or DeFi ETF, on the Brazilian Stock Exchange. The DeFi ETF called QDFI11 would track the Bloomberg Defi index and make 100% of its investment in real DeFi assets. The DeFi index tracks Uniswap (UNI), Aaave Decentralized Lending Pools (AAVE), MakerDao (MKR), Compound (COMP), Yearn.finance (YFI), SushiSwap (SUSHI), 0X (ZRX), Synthetix (SNX) and Curve (CRV). The ETF would be offered through Gemini Fund Solution, a platform built specifically for Crypto ETFs. The ETF would act as a…

Bitcoin Above $42K While Ether and SOL Tumble

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This year, cryptocurrencies have been on a rollercoaster, with Bitcoin prices trading near $42k after jumping over 40$. The world’s most significant digital token is up 1.5% at present but down 9% overall for 2022 so far – it still needs to recover some lost ground if we want our asset back near its record high. As a sign of the times, Bitcoin continues its climb to new heights. The cryptocurrency market capitalization is now over $2 trillion as per CoinGecko – with solid support coming from crypto prices across…

Zimbabwe’s Central Bank Exploring CBDC, Reiterates Opposition to Cryptocurrencies – Fintech Bitcoin News

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Zimbabwe’s central bank, which has expressed its opposition to cryptocurrencies in the past, announced yesterday it is presently exploring the feasibility of rolling out its own central bank digital currency (CBDC). The bank also said its regulatory sandbox continues to garner interest. CBDC Roadmap The Zimbabwean central bank, the Reserve Bank of Zimbabwe (RBZ), has reiterated that it prefers a central bank digital currency (CBDC) to cryptocurrencies, in its latest monetary policy statement. It adds it is now “actively exploring the feasibility of adopting a Zimbabwean CBDC including specific design…

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Avalanche correction risk rises after AVAX price soars 80% from January lows

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Avalanche (AVAX) recovery extended into its third week, primarily in the wake of similar upside retracement across the top crypto assets. On Thursday, AVAX’s price rallied by nearly 16% to reach $96.50, its best level since Jan. 14, 2022. The massive intraday move came as a part of a recovery that started Jan. 22, after the Avalanche token bottomed out near $53. As a result, AVAX’s net rebound came out to be more than 80%. AVAX/USD daily price chart. Source: TradingView Network growth offsets macroeconomic scare Crypto markets have been…

Trader builds Bitcoin ‘buy the dip’ bot, outperforms DCA

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While a bullish backdrop emerges in February, spare a thought for the traders trying to time the market. One savvy trader by the name of u/Samjhill on Reddit has built a trading tool that outperforms dollar-cost averaging (DCA) for buying Bitcoin (BTC).  DCA is the strategy in which investors buy a small amount regularly regardless of price fluctuations. It works in contrast to traders keen to get the lowest entry, timing the dip to perfection and avoiding “catching a falling knife.” The aptly named “Buy the Dip Bot” aims to “get…

DID THE FED JUST KILL BITCOIN?

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Polygon stablecoin QiDAO exploited for $13M on Superfluid vested contract

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Polygon’s native stablecoin protocol QiDAO faced an exploit on its Superfluid vesting contract leading to a 65% drop in the price of the governance token QI. QI price fell from $1.24 to $0.18. QiDAO took to Twitter on Tuesday to acknowledge the exploit on the Superfluid vesting contract but assured that users’ funds are safe and no funds from QiDAO have been affected. Superfluid also confirmed the exploit on QiDAO and said they are investigating the situation and will update accordingly. The protocol enables users to move assets on-chain in a…

in a conversation with Phemex founder

Founded in 2019 in Singapore, Phemex has been operating as a crypto derivatives exchange. The platform rose to the “top 10 global exchanges in less than two years, with a daily peak trading volume of more than $12 billion.” Cointelegraph talked to Jack Tao, founder and CEO of Phemex, about the difficulties and risks of running a crypto exchange and where he plans to take Phemex next. Tell us about the story behind the exchange and what it was like to launch a trading platform during the crypto winter? The…

Here are the biggest spenders

Cryptocurrency advocates in the United States have been increasingly putting efforts to support the industry, with crypto lobbying spending growing significantly in recent years. Crypto-related lobbying expenditure in the U.S. totaled at $4.9 million in 2021, more than doubling from $2.3 million in the previous year, according to a new study by the crypto analytics startup Cryptohead.io. The study is based on lobbying tracking data obtained from research and government transparency group Open Secrets. According to Cryptohead’s findings, the total lobbying expenditure over the past five years amounted to more…