Day: October 14, 2022

Turkey’s September Gold Imports up by 1,700% as Individuals Swap Falling Lira With the Precious Metal – Emerging Markets Bitcoin News

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Turkey’s gold imports of just over 39,000 kilograms in September 2022 are more than 16 times the quantity that was brought into the country in September 2021. The surge in Turkey’s gold imports is reportedly being spurred by the rise in demand for the precious metal by individuals and entities using it in foreign currency transactions. ‘Gold Instead of Turkish Lira’ According to data from Borsa Istanbul’s Precious Metals and Diamond Markets, the quantity of gold imported into inflation-stricken Turkey in September 2022 was over 1,700% more than the quantity…

CFTC’s Behnam Calls FTX Idea a Potential ‘Evolution’ in Market Structure

The application process seems to be “going well,” so far, said Zach Dexter, the CEO of FTX US Derivatives, at a separate event on Friday – the Security Traders Association market structure conference. FTX had seen the existing market as “a difficult system to deal with for retail investors” to trade crypto futures, and Dexter said the proposal is “fixing all of that.” Source

Decentralized Exchange Pulls In $165,000,000 in Fundraising Round Amid Ongoing Crypto Bear Market

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The developers behind the world’s largest decentralized crypto exchange (DEX) by trading volume are securing $165 million in additional investment amid the ongoing bear market. Hayden Adams, the chief executive of Uniswap Labs, says his team raised that total in a Series B funding round led by Polychain Capital. Uniswap Labs is the team that created the Uniswap (UNI) DEX. The funding round also included participation from longtime Uniswap investors a16z crypto, Paradigm, SV Angel, and Variant. Adams tells Fortune that the exchange is not currently profitable. He notes Uniswap…

Lido DAO Shows Strength To Breakout; Will The Downtrend Line Be Invalidated?

LDO price shows strength for the first time after post-merge. LDO bounces from the downtrend, hoping to end its bearish run as the price eyes a possible breakout from the downtrend line.  The price of LDO shows bullish signs as price trades below 50 and 200 Exponential Moving Averages (EMA) with good volume.  The price of Lido DAO (LDO) has been one of the best performances before the “Ethereum Merge,” outperforming the market as the price rallied to an all-time high of $3 against tether (USDT). Although the crypto market…

New Study Reveals Best Stablecoin, Why DAI Took The Crown

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Decentralized stablecoin DAI, native to Maker protocol, might become a major leader in the sector over the coming years. The digital asset was the most stable of the stablecoin in a period of 9 months, according to research published by Best Brokers. A stablecoin is a digital asset whose value is pegged to the U.S. dollar in a 1:1 parity. The concept is controversial in the crypto industry, as some of the most popular and valuable stablecoins have de-pegged and become unstable at some point except for those tokens considered…

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Mango Market’s DAO forum set to approve $47M settlement with hacker

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Following a $117 million exploit on Oct. 11, the Mango Markets community is set to make a deal with its hacker, allowing the hacker to keep $47 million as a bug bounty, according to the decentralized finance (DeFI) protocol governance forum.  The proposed terms reveal that $67 million of the stolen tokens will be returned, while $47 million will be kept by the hacker. 98% of the voters, or 291 million tokens, have voted in favor of the deal, which also stipulates that Mango Markets will not pursue criminal charges on…

CFTC Commissioner to Pitch Retail Investor Definition to Get Set for Crypto

Goldsmith Romero, who is the lead commissioner for the agency’s technology advisory committee, suggested that a new retail definition could be employed if the agency is weighing rules – for instance – on the use of leverage by investors. Establishing a retail-investor category could set aside “household” investors from the pros, she said, and could give them “more consumer protections, maybe more disclosures, written in a way that regular people understand.” Source

Academy Award winner Anthony Hopkins sells out NFT collection in minutes

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Oscar award-winning actor Sir Anthony Hopkins has sold out his debut NFT collection “The Eternal Collection” in under 10 minutes.  The collection, created in partnership with Orange Comet Inc, an NFT and Web3-focused design agency, features 1000 original cinematic art pieces inspired by different performances within the actor’s long career. According to the collection’s description on OpenSea, the body of work “conceptualizes an interpretation of the vast character archetypes Sir Anthony Hopkins has portrayed over his illustrious film career, drawing its potent energy from his stimulating body of art.” The…