Day: November 2, 2022

Switzerland’s financial regulator extends reporting requirements for crypto transactions

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The Swiss Financial Market Supervisory Authority, or FINMA, has announced it will be extending an anti-money laundering ordinance which requires identity checks for reporting certain crypto transactions. In a Nov. 2 notice, the Switzerland financial regulator said it would enforce a threshold of 1,000 Swiss francs — roughly $997 at the time of publication — for transactions of virtual currencies to cash or “other anonymous means of payment.” According to FINMA, the regulator made the adjustment in accordance with the country’s Anti-Money Laundering Act and its government’s Anti-Money Laundering Ordinance.…

‘Great cryptocurrencies have to go through several collapses,’ says Cardano founder

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Charles Hoskinson, the founder of Cardano and one of the co-founders of Ethereum, said one of the biggest lessons crypto users could take away from the collapse of Terra and other projects was learning to appreciate those that withstood the test of time. Speaking to Cointelegraph at the Web Summit tech conference in Portugal on Nov. 2, Hoskinson said he had seen many companies in the crypto space collapse, from Silk Road to Mt. Gox. According to Hoskinson, protocols that survived were “resilient under an adversarial load,” capable of weathering…

Troubled Crypto Exchange Zipmex on the Verge of Venture Capitalist Buyout: Report

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Embattled crypto exchange platform Zipmex is reportedly on the verge of being purchased by a venture capitalist firm. According to a new report by Bloomberg, the Singapore-based digital assets exchange is currently in talks with V Ventures, an investment firm that focuses on technology. Sources familiar with the situation tell Bloomberg that Zipmex is on the cusp of agreeing to a majority buyout, though the buyer has not been officially named. However, they also noted that the company is in close talks with V Ventures. The sources go on to…

How Aave Helped JP Morgan Complete Its First DeFi Transaction

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Legacy financial institutions are embracing crypto and decentralized finance (DeFi), and the Ethereum-based protocol Aave is proof. Today, the team behind the protocol announced that banking giant JP Morgan Chase completed its first DeFi transaction. 5/5 @jpmorgan transacting on a public blockchain using Aave smart contracts is a huge milestone for DeFi, and represents a massive step towards bringing traditional financial assets into DeFi, to fully realize the opportunities afforded by smart contract based dApps. — Aave (@AaveAave) November 2, 2022  This represents a major milestone for the sector that…

Bankman-Fried misguides regulators by directing them away from centralized finance

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Last month’s proposal from Sam Bankman-Fried, CEO of crypto exchange FTX, for regulators to establish a litany of standards for the cryptocurrency industry poses an existential threat to decentralized finance (DeFi) platforms and entrepreneurial spirit. As one of a select few with the capital and clout to move the needle in the discussion surrounding crypto regulation, Bankman-Fried, also known as SBF, should be taking a stand to protect DeFi by directing regulators to where they’re urgently needed: centralized finance (CeFi) platforms and centralized exchanges (CEXs). In a section of his…

Mining Crypto Uses A Massive Amount Of Energy — Why That Could Be Changing

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Recently, the world’s second-largest cryptocurrency, ethereum, implemented a major network upgrade that reduced its energy consumption by 99.9%. But though energy usage has been one of the cryptocurrency industry’s biggest targets for critique, it’s not likely that bitcoin will follow suit. Instead, bitcoin miners are touting their use of renewables and their benefit to the electrical grid, as they try to green their image. Here’s how both networks are trying to become more sustainable. Chapters: 00:00 – Introduction 02:24 – How mining…

Three crypto ETFs to be delisted in Australia as crypto winter continues

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The companies behind the Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF, and Cosmos Global Digital Miners Access ETF filed a request to revoke their quotations on Cboe Australia, according to letters disclosed on Nov. 2.  The decision to revoke the quotes reflects the crypto winter’s impact on demand for crypto assets, not the management teams’ belief in the space’s future, according to reports. Each of the three funds has a net asset value under $1 million. On Oct. 31, Cosmos had requested that trading of its Bitcoin and…

Lending Protocol TrueFi Issues Notice of Default to Invictus Capital for Failing to Repay Loan

CryptoX – Cryptocurrency Analysis and News Portal Following the loan default, Archblock (formerly TrustToken), which manages relations between lenders and borrowers on TrueFi, will join the liquidation process in an attempt to reclaim assets. At the time, when TrueFi originated the loan to Invictus, Archblock was the sole underwriter of the loan. Original Source The post Lending Protocol TrueFi Issues Notice of Default to Invictus Capital for Failing to Repay Loan appeared first on CryptoX. CryptoX Portal

Best Ethereum Mining Alternatives!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Ethereum was the most profitable coin to mine, but you can’t mine ETH anymore however there are several Ethereum Clones that emit hundreds of thousands of dollars per day in passive income to miners! Let’s review the best Ethereum alternatives to mine! Sub – Get tons of signup bonuses when you sign up with FTX! – GPU mining was incredibly profitable thanks to Ethereum, but now what are the best coins to be GPU Mining, or perhaps you have Ethereum ASIC miners…