Day: August 15, 2022

Blockchain Scalability Firm StarkWare Launches Recursion to Streamline Ethereum

“After turning on recursion this week, we now have the ability to fit tens of millions of NFT mints into a single recursive proof, and therefore into a single Ethereum transaction,” said Eli Ben-Sasson, president and co-founder at StarkWare, in a media brief provided to CryptoX. “We’re not using recursion at this intensity yet, but the tech is in place and the moment that traffic merits it, we will. This is what blockchain scaling is all about – building to prevent tomorrow’s bottleneck.” Source BlockchainEthereumFirmLaunchesRecursionscalabilityStarkWareStreamline CryptoX Portal

Coin Center may challenge US Treasury’s sanctions on Tornado Cash in court

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United States-based crypto policy advocacy group Coin Center said it intended to “pursue administrative relief” for individuals affected by Tornado Cash sanctions imposed by the Treasury Department’s Office of Foreign Asset Control, or OFAC. In a Monday blog post, Coin Center executive director Jerry Brito and director of research Peter Van Valkenburgh alleged OFAC “overstepped its legal authority” when it named cryptocurrency mixer Tornado Cash and 44 associated wallet addresses to its list of Specially Designated Nationals, or SDNs, on Aug. 8. The directors claimed Treasury’s actions could have potentially…

Stop Attacking DeFi Founders for Complying With the Tornado Cash Sanction

Last week, Rune Christtensen, founder of MakerDAO, the issuer of the dai stablecoin, said the U.S. sanction will likely usher in a “new age” of DeFi. Whereas the pre-sanction period emphasized user acquisition and protocol growth, the new period would recenter decentralization as a primary goal. What this means is still in process, though Christensen suggested that Maker could de-peg its stablecoin from the U.S. dollar, which represents a wild departure from its existing project. Source

Fed to issue long-awaited guidelines for granting master accounts to crypto banks

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The United States Federal Reserve Board announced Monday that it had finalized its guidelines for the factors reserve banks are to consider when reviewing requests for Federal Reserve accounts and payment services. The guidelines create a three-tiered review framework with the level of due diligence to be provided, depending on the applicant’s risk level.  Guidelines were first proposed in May 2021, with a supplemental proposal released in March, and the final guidelines, which come into force after their publication in The Federal Register, are “substantially similar” to them. The Fed…

Bitcoin price corrects after hitting a wall at a multi-month descending trendline

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On Aug. 15, Bitcoin (BTC) price and the wider market corrected while the S&P 500 and DOW looked to build on four-straight weeks of robust gains. Data from TradingView and CNBC show the Dow pushing through its 200-day moving average, a first since April 21 and perhaps a sign for bulls that the market has bottomed.  Dow Jones Industrial Average Index (DJI). Source: TradingView While equities markets have been strikingly bullish in the face of high inflation and a steady schedule of interest rate hikes, a number of traders fear…

Crypto News – Tesla Sells Bitcoin! Matic, XRP, & Apecoin Updates!

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TA- Alien Worlds (TLM) Set For A Major Rally As Market Looks Promising

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The price of Alien Worlds (TLM) has struggled to break out of a range recently with few bullish signs against Tether (USDT).  Alien worlds could be set for a major rally after narrowly holding above key support as other crypto assets continue to trend higher. Alien Worlds (TLM) Price Analysis On The Weekly Chart Weekly Chart Analysis For TLM Price | Source: TLMUSDT On Tradingview.com From the chart, the price of TLM saw a weekly low of $0.02, which bounced from that area and rallied to a price of $0.0313.…

BTC Not Quite Ready to Stay Above $25K

However, that move occurred within a candle that finished the hour in negative territory, indicating that bitcoin isn’t ready to hold $25,000 support. A trading candle illustrates an asset’s high, low, opening and closing price within a chart. Bitcoin’s price rose 2.7% before the start of U.S. trading before declining 3.5%. Source

In the eye of Tornado Cash

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Summer is still on, harvesting the fresh names for its list of the crypto companies in deep trouble. This time, the trouble came not from the market or management but from the United States Treasury Department. The regulator has added more than 40 cryptocurrency addresses allegedly connected to crypto mixer Tornado Cash to the Specially Designated Nationals list. These individuals and groups allegedly laundered more than $7 billion worth of cryptocurrency.  Accusations like this don’t come easy — one of the co-founders of Tornado Cash has reported his account suspended…

Peter Schiff Warns US Faces a ‘Massive Financial Crisis,’ Economist Expects Much Larger Problems Than 2008 ‘When the Defaults Start’ – Economics Bitcoin News

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The economist and gold bug Peter Schiff usually has a lot to say, and this past week Schiff explained during an interview that he believes the U.S. will face a financial crisis worse than 2008’s ‘Great Recession.’ Schiff explains that the U.S. has a lot more debt than it did back then, and insists America’s economic downturn “is going to be a much bigger crisis when the defaults start.” Chief Market Strategist at Euro Pacific Asset Management Says the Decline in US Inflation ‘Is Only Temporary’ While Peter Schiff detailed…