Day: September 2, 2022

NFT Steez and Lukso co-founder explore the implications of digital self-sovereignty in Web3

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Sovereign identity has been a hot topic in blockchain and cryptocurrency, especially with the rise of the creator economy. Currently, there are two types of digital identities. One is federated and centralized whereby data is in the control of the service provider. Self-sovereign digital identity is often cited as a human right that can reclaim agency using blockchain technology, but what frameworks exist that aid in governing it? On Aug. 2, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met Marjorie Hernandez, the co-founder of…

Brazilian SEC seeks to change its role in cryptocurrency regulation

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The Brazilian Securities and Exchange Commission is reportedly pursuing changes in the country’s legal framework with regard to its regulation of cryptocurrencies.  According to local media, one major concern is that the bill in question does not appear to consider tokens as digital assets or securities — and they therefore wouldn’t fall under SEC regulation. The updated position of the nation’s SEC follows the appointment of a new board and the increased relevance of the crypto sector in the country’s financial services. Brazilian lawmakers have been working on regulations for…

Crypto Market Remains Extremely Fearful As Bitcoin Struggles At $20,000

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The crypto market has found itself at odds since the price of bitcoin had fallen to $20,000. This remains an important technical level for the digital asset because it is right above its previous cycle peak. As such, investors across the space watch with bated breaths to see if bitcoin will be able to hold this level. This has, in turn, led to a decline in investor sentiment during this time, causing the Fear & Greed Index to plunge low. Crypto Index Sits At 25  The Crypto Fear & Greed…

Snapchat’s parent company shutters Web3 division amid layoffs

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Snap Inc’s CEO Evan Speigel announced in a note on Friday that the company had made the difficult decision to reduce the size of its workforce by approximately 20%.  The note said that this round of layoffs comes after the company experienced slow revenue growth, a slump in stock prices, and a general lag behind its financial targets. Speigel shared: “Our forward-looking revenue visibility remains limited, and our current year-over-year QTD revenue growth of 8% is well below what we were expecting earlier this year.” Snap Inc. will now undertake the…

Ethereum Merge 16 Days Away! [Crypto Analysis]

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Bitcoin Whales Increase Selling, BTC Rejected From $20,000

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Bitcoin has been experiencing some volatility over today’s trading session as the price of BTC touches critical resistance levels. The number one crypto by market cap positively reacted to macroeconomic factors, but as the weekend approaches, low levels might lead to sudden price movement. At the time of writing, Bitcoin (BTC) trades at $19,800 with a 1% profit in the last 24 hours and an 8% loss over the past week. The cryptocurrency saw bullish price action after the U.S. posted important metrics about their economy, but the rally was…

Will Bitcoin Make A Weekend Comeback? BTCUSD September 2, 2022

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In this episode of NewsBTC’s daily technical analysis videos, we are going to look at the weekly timeframe on Bitcoin BTCUSD in anticipation of the weekend and weekly close. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 2, 2022 With the monthly open now out of the way and Friday here, we are looking ahead at the weekend close ahead of what could be an interesting weekend in the crypto market. Bitcoin price has been following a fractal from the bear market bottom. Interestingly, the Relative…

Tether Asks Court to Remove Crypto Boutique Law Firm Roche Freedman From Class-Action Lawsuit – Bitcoin News

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Kyle Roche, an attorney and founding partner of the crypto boutique litigation firm Roche Freedman LLP, recently withdrew from a number of class-action lawsuits initiated by the law firm. The attorney’s withdrawal follows videos that circulated showing the lawyer discussing associations with cryptocurrency companies. After the attorney’s initial filing, the stablecoin issuer Tether is requesting that the litigation firm Roche Freedman be removed from the class action against the company. Tether Wants Law Firm Roche Freedman Removed From Class-Action Lawsuit Elliot Greenfield of Debevoise & Plimpton LLP has written to…

Bitcoin’s in a bear market, but there are plenty of good reasons to keep investing

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Let’s rewind the tape to the end of 2021 when Bitcoin (BTC) was trading near $47,000, which at the time was 32% lower than the all-time high. During that time, the tech-heavy Nasdaq stock market index held 15,650 points, just 3% below its highest-ever mark. Comparing the Nasdaq’s 75% gain between 2021 and 2022 to Bitcoin’s 544% positive move, one could assume that an eventual correction caused by macroeconomic tensions or a major crisis, would lead to Bitcoin’s price being disproportionately impacted than stocks. Eventually, these “macroeconomic tensions and crises”…