Day: September 15, 2022

Lummis-Gillibrand is a blessing for the crypto industry

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There’s never a good time for a crypto winter, but it would be difficult to envision a worse time than right now. Even before 70% of Bitcoin’s (BTC) value evaporated seemingly overnight, things were not going great in the court of public opinion. Negative sentiment was everywhere; a Twitter account documenting crypto bros taking it on the chin racked up hundreds of thousands of followers. Now the biggest crypto exchanges in the world are laying off full-time employees by the thousands, and the self-proclaimed “Cryptoqueen” has landed a spot on…

FTX Is in the Lead to Buy Crypto Lender Voyager Digital’s Assets Out of Bankruptcy: Source

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Most of the crypto market is down, but Cosmos (ATOM) price is up — Why?

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The Ethereum Merge has finally happened. It’s over, and fortunately it went smoothly without any major hiccups. As predicted by many, the event turned out to be a “buy the rumor sell the news” style event, or perhaps, the hotter-than-expected consumer price index print on Sept. 12 was the real catalyst that pushed the market in its current direction.  Regardless of the reasons for this week’s downturn, the Merge is over and in its wake, bulls are left holding a whole lot of nothing. It’s likely that a new bullish…

Markets Trade Lower Despite Success of Ethereum Merge

● Bitcoin (BTC): $19,823 −0.4% ● Ether (ETH): $1,505 −5.6% ● CoinDesk Market Index (CMI): $990 −1.9% ● S&P 500 daily close: 3,901.35 −1.1% ● Gold: $1,674 per troy ounce −1.3% ● Ten-year Treasury yield daily close: 3.46% +0.05 Bitcoin, ether and gold prices are taken at approximately 4pm New York time. Bitcoin is the CoinDesk Bitcoin Price Index (XBX); Ether is the CoinDesk Ether Price Index (ETX); Gold is the COMEX spot price. Information about CoinDesk Indices can be found at coindesk.com/indices. Source

Industry reps suggest improvements to Stabenow-Boozman crypto regulation bill

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Representatives of the crypto community shared their responses to the proposed Digital Commodities Consumer Protection Act (DCCPA) on Sept. 15. Speaking at the second panel of a hearing held by the Senate Agriculture Committee, invited speakers praised the bill as a whole, but had recommendations for improvement. Definitions were an issue for all five of the speakers and Blockchain Association head of policy Jake Chervinsky, who released a statement on the bill within moments of the conclusion of the hearing. All the commenters expressed a desire for a clearer definition…

Environmental groups want Bitcoin to follow Ethereum’s example in moving to proof-of-stake

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Transitioning the Ethereum blockchain from proof-of-work to proof-of-stake has reduced its energy usage by more than 99% — and many climate activists have called for Bitcoin to follow suit.  In a Thursday notice following the Merge, the United States-based Environmental Working Group, or EWG, announced it would be starting a $1-million campaign aimed at urging Bitcoin (BTC) to go green as opposed to using an “outdated protocol” like PoW. The announcement came amid environmental activity group Greenpeace launching a petition directly at Fidelity Investments to facilitate the transition to PoS.…

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Ethereum Already Showing Signs of Increased Centralization

In his thread, Köppelmann mentioned that just seven players own more than two-thirds of the stake on Ethereum’s proof-of-stake network – the key measure of network power under the new miner-free system. Lido, a kind of community-led staking collective, and Coinbase, the world’s third-largest crypto exchange, own 27.5% and 14.5% of the network’s stake, respectively. Source CentralizationEthereumIncreasedshowingsigns CryptoX Portal