Day: November 25, 2022

Binance Launches Billion-Dollar Crypto Industry Recovery Fund to Restore Confidence After FTX Meltdown – Finance Bitcoin News

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Binance has committed $1 billion to a crypto industry recovery initiative to restore confidence following the collapse of crypto exchange FTX. Several other crypto companies have joined Binance’s efforts and committed capital for the recovery fund. Crypto Industry Recovery Initiative Launched Cryptocurrency exchange Binance unveiled Thursday some details of its Industry Recovery Initiative (IRI), which the crypto firm described as “a new co-investment opportunity for organizations eager to support the future of web3.” The announcement states: Initially, Binance will commit USD 1 billion to IRI-themed investment opportunities with an intent…

Which Should You Choose? – Blockchain News, Opinion, TV and Jobs

Cryptocurrency loans are on the rise. In fact, Raconteur found they’re fast becoming a genuine alternative to borrowing money from banks. This development isn’t surprising: many worldwide already buy, trade, and sell crypto. After all, crypto is still a currency despite being digital. If you’re new to crypto loans and deciding between this and personal loans, keep reading to find out which is the best option for you. Crypto loans Cryptocurrencies are assets similar to cars, houses, or stocks. As such, they can serve as collateral for loans. A crypto…

FTX stake in US bank raises concerns about banking loopholes

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The bankruptcy proceedings of cryptocurrency exchange FTX have revealed many new aspects of its unethical practices. The latest revelation around its stake in one of the smallest United States banks from rural Washington has raised fresh concerns about its operations and alleged misuse of banking loopholes. Farmington State Bank in the state of Washington, now renamed Moonstone, is the 26th smallest bank in the U.S. — with a single branch and three employees. FTX invested in the rural bank through its now-bankrupt sister company, Alameda, with an investment of $11.5…

ConsenSys addresses MetaMask IP collection, claims nothing has changed

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After community backlash received from an initial privacy policy revision on Nov. 23, ConsenSys, the parent company of MetaMask, released a statement to reiterate the intentions of its data collection. The company stated that the policy has always relayed how certain types of personal information are automatically collected, which could include IP addresses. According to ConsenSys, the latest updates were in the act of transparency as to how Infura, MetaMask’s default Remote Procedure Call (RPC), works with user data. ConsenSys highlighted that MetaMask itself does not collect IP addresses. Rather…

Bitcoin․com Joins Chainlink BUILD to Boost Adoption of VERSE Ecosystem dApps – Press release Bitcoin News

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press release Bitcoin.com, a digital ecosystem and secure self-custody platform where users can safely and easily interact with cryptocurrencies and digital assets, has joined the Chainlink BUILD program to help accelerate the adoption of VERSE ecosystem dApps and receive increased technical support for Chainlink’s time-tested Web3 services—which include verifiable randomness, decentralized price data, and reliable smart contract automation. What Is VERSE? With over 35 million wallets created and more than 5 million active users, Bitcoin.com has played a leading role since 2015 in onboarding millions of newcomers to Bitcoin, cryptocurrency,…

Turkish Authorities Order Seizure of ‘Suspicious’ FTX Assets

Since Nov. 14, MASAK has also been investigating the exchange’s local unit, FTX Turkey. The ongoing investigations have shown that customers’ trust was “not duly preserved” by the fallen company, and that authorities have “a strong suspicion of crime” being committed, particularly by Bankman-Fried who “directly or indirectly” controls the entities and persons through which FTX operates in Turkey, the notice said. Source

Matrixport Favors ‘Systematic Bitcoin Call Overwriting’ Strategy for 2023

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An example of call overwriting is when an investor owns one bitcoin and sells a call option on it at a strike price that’s higher than the current market price. For example, giving the option buyer the right to purchase the bitcoin at, say $20,000, when the current price is $16,400. If the price tops $20,000 before the option expires, the option buyer has an opportunity to make a profit. Original

Will Bitcoin hit $110K in 2023? 3 reasons to be bullish on BTC now

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Bitcoin (BTC) may follow stocks on a “massive bull run” as the weekly chart delivers a unique sign of strength. The latest analysis from several well-known crypto names suggests it is time to give up the bear market narrative. Despite everyone talking about a new macro BTC price low, possibly at $12,000, new perspectives demand a rethink. Be it thanks to macro or just good old Bitcoin price cycles, there are three new reasons to flip bullish on Bitcoin in its current state near two-year lows. Stocks rally could produce…

Key Indicator Signals Bottom; Ethereum Core Devs Back EIP-4844

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The downfall of FTX has also left its mark on the Ethereum (ETH) price. Over the last 30 days, Ether has recorded a drop of around 20%. At press time, the price was at $1,171, just above the crucial support level of $1,100. In the short term, the ETH price has found support at $1,171. However, if the key resistance at $1,230 is not breached in the next few days, a retest of the level at $1,100 could be on the cards. Ethereum price, 1-hour-chart. Source: TradingView An important on-chain indicator…