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The rise of decentralized services and hardware security wallets means that we no longer need to rely on intermediaries to manage our financial assets and data, according to CEO Pascal Gauthier of hardware wallet Ledger, who has urged people to take on more responsibility. Speaking to Cryptox at Surfin’ Bitcoin 2022 on Aug. 25, Gauthier said that the recent collapse of centralized exchanges has showcased why investors shouldn’t rely on intermediaries to manage their digital assets. While most actors are well intended, Gauthier said “the [crypto] industry is too young”,…
NFT friendly rap icons Eminem and Snoop Dogg will be performing at MTV’s Video Music Awards (VMAs) together on Sunday, in a performance inspired by the Otherside metaverse and Bored Ape Yacht Club (BAYC) NFTs. The Otherside is a collaboration project between Yuga Labs’ BAYC and NFT investment and gaming giant Animoca Brands. Partnering with Otherside creator Yuga Labs, the global rap icons will be giving some major mainstream exposure to Otherside by transforming the VMAs stage into its style for their latest collaborative single ‘From the D 2 the…
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The central bank and the Securities and Exchange Commission (SEC) of the Philippines discussed crypto regulation in a Senate hearing with the participation of several executives from the crypto industry, including from crypto exchange Binance. Philippine Regulators Discuss Crypto Policies Philippine regulators recently discussed cryptocurrency regulation with some executives from the crypto industry in a Senate Committee on Banks, Financial Institutions, and Currencies hearing, chaired by Senator Mark Villar, the Inquirer reported Wednesday. Bangko Sentral ng Pilipinas (BSP), the Philippine Securities and Exchange Commission (SEC), and the Cagayan Economic Zone…
Major Indian crypto exchange CoinSwitch Kuber had five of its premises searched by anti-money laundering agents on Thursday over alleged violations of forex laws. According to an Aug. 25 report from Bloomberg, India’s Enforcement Directorate searched CoinSwitch Kuber’s offices as well as the residences of its directors and CEO Ashish Singhal. A source told the publication the crypto exchange is under suspicion of acquiring shares worth more than $250 million in contravention of forex laws, as well as being non-compliant with certain know-your-customer (KYC) requirements. The Directorate of Enforcement is…
Bitcoin price noted a sharp decline after the bulls were rejected at the $24,000 price mark a few days ago. Over the past week, the coin depreciated 7.6%. In the last 24 hours, Bitcoin price barely noted any movement. This indicated that the coin was trading within a consolidated price range. The bulls are trying to re-enter the market but selling strength continues to increase. The coin however has managed to keep the price above the $21,000 support level. The technical outlook for Bitcoin has turned mixed, meaning there could…
Compound’s previous iterations employed a pooled-risk model, which supported nine cryptocurrencies, including ether (ETH), dai (DAI) and tether (USDT). Under the old model, users would deposit assets into lending pools, where their assets would earn interest. In exchange for their deposits, lenders received cTokens, which represented the value of their deposits. Using those cTokens, the lender could then borrow up to a certain percentage of the value of their collateralized assets in a different cryptocurrency. Source
Another bitcoin miner, Mawson Infrastructure (MIGI), said it generated $1.8 million in unaudited revenue by engaging in similar types of strategy as Riot. “When energy prices are low, Mawson engages in bitcoin mining and generates revenue by selling self-mined bitcoin daily, as it has from inception,” the miner said in a statement. “When energy prices are high, and where available, Mawson engages in Energy Demand Response Programs, receiving revenue and reducing overall energy costs,” it added. Original
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