Month: June 2022

New York Lawmakers Pass Bill That Could Ban Certain Bitcoin Mining Operations

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io New York lawmakers have passed a bill that, if signed into law by Governor Kathy Hochul, would ban bitcoin mining operations that use carbon-based power sources to operate.» Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We…

Avaxfi, a Defi Lending Platform, Secures VC Funding From Zen Capital

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Zen Capital is a crypto venture capital fund company that has quietly built a portfolio of promising companies. This crypto venture capital fund is led by a team of entrepreneurs and technologists who believe that the power of decentralized technology can change the world. One of the company’s goals is to work with blockchain entrepreneurs looking to build cryptocurrency platforms that will be relevant for years. Zen capital is a Limited Partner of Pantera Capital. Pantera Capital is the first US institutional asset manager focused exclusively on blockchain technology. Zen…

Binance resumes withdrawals as many retail crypto investors monitor exchanges

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Many social media users seem to be waiting for other crypto exchanges including Coinbase and Kraken to follow in Binance’s and Celsius’ footsteps by suspending withdrawals. Major crypto exchange Binance has announced that it had resumed Bitcoin withdrawals after more than three hours amid extreme market volatility.  In an update during what many are calling cryptocurrency’s ‘Black Monday’, Binance said on its website the exchange would be processing Bitcoin (BTC) network withdrawals within “the next couple of hours” following the resumption of activity. The platform announced Monday that it had…

Bitcoin derivatives data shows no ‘bottom’ in sight as traders avoid leveraged long positions

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Bitcoin (BTC) lost the $28,000 support on June 12 following worsening macroeconomic conditions. The United States Treasury 2-year note yield closed on June 10 at 3.10%, its highest level since December 2007. This shows that traders are demanding higher rates to hold their debt instruments and expect inflation to remain a persistent challenge. Louis S. Barnes, a senior loan officer at Cherry Creek, stated that as the United States reported its highest inflation in 40 years, the mortgage-backed securities (MBS) markets had zero buyers. Barnes added: “Stocks are down 2%…

Lawsuit Accuses Binance US of Selling Unregistered Securities, False Advertising Terra UST as ‘Safe’ – Bitcoin News

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A class-action lawsuit against Binance US has been filed in California that alleges the exchange misled investors and sold unregistered securities to roughly 2,000 plaintiffs. The case was filed by the law firm Roche Freedman LLP, a company known for high-profile crypto lawsuits during the last few years. The lawsuit accuses Binance US of marketing terrausd (UST) as a firmly fixed stablecoin tied to the value of the U.S. dollar. Class-Action Lawsuit Filed Against Binance US Over the Terra UST Collapse — 2,000 Plaintiffs Say They Were Misled by the…

Lacoste makes its way into the web3 ecosystem with UNDW3

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Luxury brand Lacoste has joined the web3 ecosystem with the launch of UNDW3 – pronounced underwater. The company announced this forward-looking move through a press release. The UNDW3 universe will let the Lacoste community participate in furthering the brand’s fashion-sport vision. According to the press release, UNDW3 allows Lacoste community members to own the brand in a creative way. In preparation for UNDW3’s launch, Lacoste rolled out its Discord server on June 6. The Discord channel will help keep each community member informed about developments in Lacoste’s web3 universe. Eager…

The Rise of Blockchain in Formula 1 – Press release Bitcoin News

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press release PRESS RELEASE. Formula One is one of the greatest sports in the world and brings about the best automobile teams which compete for the title yearly. From the racing tracks in Spa to the roads of Monte Carlo in Monaco, Formula One has developed into a billion-dollar industry with teams and drivers boasting a cult following globally. The relationship between Formula One and the blockchain industry has grown in recent years. In part due to the growing adoption of crypto and blockchain technology. Crypto.com made a significant splash…

Crypto crash wreaking havoc on DeFi protocols, CEXs

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On Monday, a heavy cryptocurrency sell-off in the markets caused significant ripples for projects and entities alike. On popular decentralized finance, or DeFi, lending protocol Aave, utilization rates have fallen across nearly all stablecoin borrowings. Most notably, borrowings for Binance USD (BUSD) now stand at a mere 30% compared to a high of 80% back in May.  Utilization rate is the ratio of borrowed funds to deposited funds. Since borrowers are required to post digital asset collateral before taking out a loan on Aave, users are likely withdrawing en mass…

Bitcoin Weekly RSI Sets Record For Most Oversold In History

Bitcoin price is in free fall and the cryptocurrency community is in panic. The high-risk, speculative asset class is living up to its notorious volatility and the selling appears unstoppable. At some point, all assets become oversold and recovery begins. After the most recent selloff, BTCUSD weekly RSI has reached the most oversold level in the entire history of price action, including two bear market bottoms. Bitcoin Selloff Sets Record For Most Oversold Weekly RSI Ever Bitcoin price today tapped below $22,000 per coin and is rapidly approaching prices closer…