Day: October 17, 2022

USDC’s Market Cap Sheds Close to $4 Billion in Less Than 20 Days, Binance’s BUSD Climbs 3% – Altcoins Bitcoin News

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19 days ago, usd coin (USDC), the second largest stablecoin by market capitalization, had an overall valuation of around $48.82 billion and since then, it has continued to deflate down to today’s $44.93 billion. Statistics show that during the last three months, USDC’s market valuation has dropped by more than 19%, shedding approximately $10.59 billion. USDC Sheds $3.89 Billion in 19 Days, $10.59 Billion in 3 Months More than $10 billion worth of the stablecoin USDC has been erased from the project’s market capitalization since July 7, 2022. Bitcoin.com News…

New allegations arise regarding Binance’s regulatory framework

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On Oct. 17, a new report published by Reuters alleged that cryptocurrency exchange Binance “swerved scrutiny” from regulators in the United Kingdom and the United States. The main spearhead of the allegations arises from two supposed incidents in its operating history. First, Reuters wrote of Binance strategy executive Zoe Wei’s proposal to backdate a service agreement relating to various operations between Binance’s U.K. unit and Binance’s Cayman Islands holding company on March 11, 2020. The move allegedly allowed Binance to exempt itself from registration with the country’s Financial Conduct Authority…

New allegations arise regarding Binance’s regulatory framework

On Oct. 17, a new report published by Reuters alleged that cryptocurrency exchange Binance “swerved scrutiny” from regulators in the United Kingdom and the United States. The main spearhead of the allegations arises from two supposed incidents in its operating history. First, Reuters wrote of Binance strategy executive Zoe Wei’s proposal to backdate a service agreement relating to various operations between Binance’s U.K. unit and Binance’s Cayman Islands holding company on March 11, 2020. The move allegedly allowed Binance to exempt itself from registration with the country’s Financial Conduct Authority…

5 altcoins that could be ripe for a short-term rally if Bitcoin price holds $19K

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The S&P 500 and the Nasdaq Composite fell to a new year-to-date low last week and closed the week with a loss of 1.55% and 3.11% respectively. The scenario changed drastically on Oct. 17 after earnings season ramps up and a sharp policy reversal from UK finance minister Jeremy Hunt added detail to the government’s plan to fix his predecessor’s (Kwasi Kwarteng) fiscal package which triggered a record fall in the value of the GBP and a near liquidation of pension plans in the United Kingdom. At the time of…

Morgan Stanley Executive Predicts Bitcoin To Witness A Short-Term Rally

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Over time, the crypto market has strongly correlated with US equities, and Bitcoin has indicated a significant correlation with S&P 500 index. The price of the primary crypto asset has followed a similar pattern to the stock. Many predictions from experts on BTC were drawn from the possible outplay for the equity stock. Also, the response of Bitcoin to critical macroeconomic conditions is related to that of the stock index. Following the correlation between the two markets, some market experts give forecasts for future price trends. According to Morgan Stanley’s…

USDC Trading Now Available on the Kinesis Exchange

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October 17, 2022 – London, United Kingdom Kinesis, the world’s leading gold and silver-based monetary system, has listed the fiat-based stablecoin, USD Coin (USDC) on the Kinesis Exchange. USDC is the fourth-largest cryptocurrency by market capitalization and the second-largest USD stablecoin in the cryptocurrency industry, with over 49 billion USDC tokens currently in circulation. Now live on the Kinesis Exchange, USDC will be tradeable against the US dollar, selected leading cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH) and Kinesis’ native gold and silver-based stablecoins, Kinesis Gold (KAU) and Kinesis Silver…

Why Are So Many Crypto Execs Leaving?

Powell, like Saylor, said he’s stepping down as CEO to continue focusing on crypto advocacy. In some cases, these shifts work out. David Marcus, who oversaw the Libra project at Facebook, before both were renamed, has emerged as a thoughtful industry commentator and CEO of Bitcoin Lightning-focused Lightspark. Source

How an Online Community Becomes a Digital City

The DAO essentially meets online via the chat app Discord, where it has various interest channels including fashion, music and art. FWB is the native token of the DAO, and anyone with 5 FWB can become a local member, which grants them access to Discord channels, a newsletter, livestreamed event content and other semi-exclusive perks. To become a global member, one must fill out an application, pass an interview with one of the 20-30 rotating members of the FWB Host Committee, and then purchase 75 FWB at market price. Membership…