Day: May 31, 2022

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UN agency head sees ‘massive opportunities’ in crypto: WEF 2022

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The United Nations is smitten with distributed ledger technology (DLT). In a conversation with Cointelegraph at WEF 2022, United Nations International Computing Centre (UNICC) director Sameer Chauhan explained the “massive opportunities” he sees in cryptocurrencies. A former traditional finance executive and head of the UNICC since 2018, Chauhan has seen the rise and fall of cryptocurrency markets. He shared that groups such as the Bank for International Settlements (BIS) do not want to “miss the boat” when it comes to DLTs. Chauhan explained that cryptocurrencies are neutral technologies: “It’s a…

Why You Should Consider Pooling Support Behind DeFi’s PoolTogether

The larger issue, however, touches all of crypto. In essence, the lawsuit is about decentralization and the responsibility software coders hold once crypto applications go live. “It aims to test the question of whether or not creators can make something, release it on a blockchain and really claim not to control it anymore,” Axios’ Brady Dale wrote. Source

Wallet Firm Liminal Raises $4.7M From Elevation Capital, CoinDCX, Sandeep Nailwal and Others

Elevation Capital, a venture capital firm providing early-stage capital for startups in India, led the funding round. Prominent Indian exchange CoinDCX participated in the funding, as did marquee angel investors such as Andreas Antonopoulos, Balaji Srinivasan, Sandeep Nailwal, Jaynti Kanani and Ajeet Khurana. Other investors included LD Capital, Woodstock, Nexus Ventures, Hashed, Cadenza Ventures, Vauld, Better Capital and Sparrow Capital. Liminal was founded by Mahin Gupta, who is also one of three co-founders of Zeb Pay, a prominent Indian crypto exchange. Liminal claims to be the first wallet architecture to…

Bitcoin LTHs Realized Significant Losses Recently, Final Capitulation Here?

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Data shows Bitcoin long-term holders have realized a significant amount of losses recently, a sign that the final capitulation before the bottom may be here. Bitcoin Long-Term Holder SOPR Shows Average of 27% Losses Being Realized This Week According to the latest weekly report from Glassnode, BTC long-term holders seem to have harvested some losses this week. The “spent output profit ratio” (or the SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a profit or a loss right now. The metric works by…

Optimism Tokens Claimed by Some Users Ahead of Official Airdrop Announcement

CryptoX – Cryptocurrency Analysis and News Portal “The claim is not ready,” said Discord user Billy161, a member of the Optimism team. “We are provisioning infrastructure to handle the insane load that a token launch brings. Our announcement got [frontrun] by centralized exchanges going rogue, which has created a frenzy.” Source The post Optimism Tokens Claimed by Some Users Ahead of Official Airdrop Announcement appeared first on CryptoX. CryptoX Portal

Basel Committee presses on with restrictive requirements for banks’ crypto holdings

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The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics. The committee stated that it would soon publish its second consultative paper with the intention of finalizing guidelines on the prudential treatment of crypto exposure by banks by year-end.  In a Tuesday press release, the committee issued the following statement, which was likely in reference to the recent collapse of the Terra ecosystem: “Recent developments have further highlighted the importance of having a global minimum prudential framework to mitigate risks from cryptoassets.” The committee began consultations…

DeFi isn’t dead, it just needs to fix these 3 critical problems

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The persistent challenges faced by decentralized finance have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken by greed. UST/LUNA is just the latest in a string of bad developments: — Peter Yang (@petergyang) May 11, 2022 Let’s take a look at what experts say DeFi needs to do to have another…