September 15, 2022

Bitcoin price loses $20K, ETH price drops 8% after ‘monumental’ Ethereum Merge

September 15, 2022 boss

Bitcoin (BTC) spent a second day threatening $20,000 support on Sept. 15 as markets processed the Ethereum (ET Merge. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC stuck between price magnets’ Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking below $20,000 again overnight to recover marginally above the boundary for a brief period. The largest cryptocurrency broadly failed to regain lost ground after surprise United States inflation data on Sep. 13 sent risk assets into a tailspin. Down 13.5% versus the week’s top at the time of writing, Bitcoin…

Binance Labs Doubles Down on Aptos Bet Ahead of Blockchain Launch

September 15, 2022

Aptos, staffed by former Facebook employees, is building a layer 1 blockchain using parts of the tech built for Facebook’s defunct Diem stablecoin project. It is approaching a mainnet launch expected for later this year and wooing decentralized finance (DeFi) builders in the run-up. Source

Will Tron Tie-Up With Liquidity Provider Wintermute Boost TRX Price?

September 15, 2022 boss

Tron (TRX) has recently disclosed a collaboration with Wintermute to boost Tron’s DeFi ecosystem and more so, to enhance network accessibility and liquidity. TRX price up by 0.43% Tron spikes in terms of popularity and value amounting to $1.2 billion Network integration with Wintermute to improve liquidity, accessibility Not that Tron needs it desperately as it has been outpacing its rivals but continuous pump and evolution is necessary to thrive in the crypto arena. Overall, the partnership aims to make Wintermute as Tron’s official market maker to basically increase trading…

Environmental Groups to Spend Another $1M on Ads for Bitcoin Code Change After the Merge

September 15, 2022 boss

Earlier on Thursday, the Ethereum blockchain – which underpins the world’s second largest cryptocurrency – changed its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS), doing away with the need for energy-intensive computing power. Bitcoin, a PoW network, has been facing mounting criticism over its energy use, which is on par with some small countries. These criticisms were echoed in part in a report on bitcoin mining published by the White House last week. Original

FTX, Bybit among the first exchanges to launch spot ETHW trading

September 15, 2022 boss

Major cryptocurrency exchanges, FTX and Bybit, are among the first crypto trading platforms to launch spot trading for Ethereum proof-of-work (PoW) tokens. While the Ethereum blockchain has not forked into two separate networks just yet, crypto exchanges are rushing to start trading EthereumPoW (ETHW) tokens. At the time of writing, ETHW Fork IOU token is now trading on five exchanges, including the global FTX exchange, the FTX US platform, Bybit, Gate.io and MEXC Global, according to data from CoinGecko. According to the data, FTX is handling more than 80% of…

ETC, RVN, ERGO Hashrate Soars Following The Merge, Large Quantity of Hashpower Awaits ETHW Fork – Mining Bitcoin News

September 15, 2022 boss

Ethereum has officially transitioned from a proof-of-work (PoW) network to a proof-of-stake (PoS) system after seven years of operating as a PoW blockchain. The Merge has forced ethereum miners to transition to other PoW-based tokens and after the ruleset change was codified, a handful of PoW coins compatible with the Ethash algorithm saw their hashrates skyrocket. Ethereum Classic’s hashrate has tripled in size since The Merge was triggered by Ethereum’s Paris Upgrade. 5 Tokens Reap the Benefits of Ethereum’s Leftover Hashrate Ethereum, the second largest crypto asset in terms of…

Token Management Platform Magna Raises $15M Seed Round at $70M Valuation

September 15, 2022

“At Shima, we have hundreds of portfolio companies and several have tried to build token distribution mechanisms in-house to no avail,” said Yida Gao, general partner at Shima Capital. “These tools should exist as a primitive and require battle-tested smart contract code, extensive security audits, and a usable interface to get right.” Source

Crypto News: Bear Market, CRO Rewards, SEC, NFTs & MORE!!

September 15, 2022

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Crypto bill needs clarification on ‘digital commodity’ — Sheila Warren

September 15, 2022 boss

Sheila Warren, CEO of the Crypto Council for Innovation, said the Digital Commodities Consumer Protection Act currently being considered by U.S. lawmakers was a “pivotal step” towards achieving regulatory clarity, but recommended changes to determine the role authorities will take on digital assets. In written testimony for a Wednesday hearing on the bill with the Senate Agriculture Committee, Warren said the proposed legislation needed to better define a “digital commodity” and security rather than leaving the matter to regulatory agencies or U.S. courts. According to the Crypto Council CEO, the…

CFTC Already Preparing to Be Crypto Watchdog, Benham Tells US Senators

September 15, 2022

Still, Behnam praised the legislation and its plan for additional agency funding that will allow the CFTC to “move swiftly” to establish the new oversight over digital commodity assets, which the courts, lawmakers and regulators conceded includes bitcoins, though other assets’ status are less clear. “All digital commodity platforms must maintain adequate financial, operational, and managerial resources, segregate customer funds, and comply with commission requirements for the treatment of customer assets,” Behnam said. “These tools have proven effective in preserving customer funds and market operations in times of instability, uncertainty,…