Day: December 3, 2022

XRP Price Forecast 2023: Coinspeaker Advent Calendar:

XRP has the right fundamentals to chart a bullish path in 2023, and traders will be better off managing their expectations right. Dear readers, welcome to today’s episode of Coinspeaker Advent Calendar with a specific focus on XRP coin. Out of the thousands of digital currencies around today, a few have a unique history that generally makes them stand out from their peers. XRP is one of these cryptocurrencies, a payment digital currency that is among the oldest in the blockchain world. XRP was designed to serve as the complementary…

Korean VC Firm Daesung Private Equity Announces $83 Million Metaverse Fund – Metaverse Bitcoin News

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Daesung Private Equity, a Korean venture capital firm, has announced the launch of a metaverse fund of 110 billion won ($83.5 million). The fund, which will have the participation of the Korean state represented by Korea Venture Investment Corporation’s Korea Fund of Funds, aims to put investments into virtual reality (VR) and digital twins-related businesses. Daesung Private Equity to Launch Metaverse Fund Korean venture capital firm Daesung Private Equity has decided to get into the metaverse investment field. The company announced on Nov. 30 the launch of a metaverse-focused fund,…

How to keep your cryptocurrency safe after the FTX collapse

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The fall of the FTX crypto exchange forced many to reconsider their overall approach to investments — starting from self-custody to verifying the on-chain existence of funds. This shift in approach was driven primarily by the lack of trust crypto investors have in the entrepreneurs after being duped by FTX CEO and co-founder Sam Bankman-Fried (SBF). FTX crashed after SBF and his accomplices were caught secretly reinvesting users’ funds, resulting in the misplacement of at least $1 billion of client funds. Efforts to regain investor trust saw competing crypto exchanges…

EU Parliament to ‘Vote on Adopting the Regulation on MiCA’ — Expert Says Industry Needs Legal Clarity – Regulation Bitcoin News

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In a recent statement, the European Parliament said its members would shortly “vote on adopting the regulation on markets in crypto-assets (MiCA).” According to the parliamentary body’s think tank, the envisaged regulations are expected to provide “legal certainty for crypto-assets not covered by existing EU legislation.” A crypto counselor, Paulius Vaitkevicius, said any regulation of crypto is likely to result in more capital and talent coming into the space. ‘Harmonized Rules’ for Crypto-Assets at EU Level After months of discussions and negotiations which culminated in the June 30 preliminary agreement,…

Sam Bankman-Fried Addresses $8 Billion Balance Sheet Deficit

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The entire crypto market bled with multiple losses and asset devaluation after the collapse of Sam Bankman-Fried’s crypto exchange FTX. In addition, crypto firms exposed to FTX got a fair share of the bitter pill. Investigations have been ongoing to determine the location of the $8 billion hole in FTX’s balance sheet, which caused the liquidity crunch. The deficit in FTX’s balance sheet kept growing. The firm initially declared only $2 billion and later said it was $5 billion. The hole has now grown to over $8 billion. In a…

Ethereum Price To Reclaim $1,300, What Are The Possibilities?

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This week saw a positive recovery in some crypto assets, Ethereum included. It is gaining momentum and preparing for a bullish rally in the days to come. Although Ethereum is still below $1,300, some factors suggest a possible increase to $1,350 and $1,550. The crypto market has been filled with FUD (fear, uncertainty, and doubt) in the past weeks following the FTX crisis. Crypto investors are left speculating whether to buy or sell holdings as assets plunged deeper. For example, reports show that Ethereum lost nearly 39% in a couple…

FTX US ex-president reportedly seeks $6M funding to launch crypto startup

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Just a month after the controversial fall of Sam Bankman-Fried’s FTX exchange and 130 affiliated companies, a former high-ranking executive is reportedly seeking out investors to launch a crypto startup. The ex-president of FTX US, Brett Harrison, is on the lookout for $6 million in funding to launch a start-up that would build crypto trading software for big investors, according to The Information. Harrison’s funding round would be against a $60 million valuation. On Sept. 27, Harrison announced his plans to step down as the president of FTX US as…

Uzbekistan Approves Rules for Issuance and Circulation of Crypto Assets – Regulation Bitcoin News

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The authority responsible for crypto oversight in Uzbekistan has determined the order of issuing and circulating digital assets in the country. The main reason behind the move is to establish a mechanism that would allow local companies to attract capital through coins and tokens. Uzbekistan Government Sets Out to Regulate Digital Asset Investments The National Agency of Perspective Projects (NAPP), under the President of Uzbekistan, has released a new regulation on the procedures for the issue, registration, and release in circulation of crypto assets in the Central Asian Nation. The…

US Lawmakers Say Any Digital Dollar Must Be Open, Permissionless, and Private – Regulation Bitcoin News

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Nine U.S. lawmakers have raised concerns regarding the U.S. central bank digital currency project led by the Federal Reserve Bank of Boston. The lawmakers stressed: “Any U.S. CBDC must be open, permissionless, and private.” Congressmen Say Any US CBDC Must Be Open, Permissionless, and Private U.S. Congressman Tom Emmer (R-MN) announced Thursday that he has led an inquiry into the central bank digital currency (CBDC) effort led by the Federal Reserve Bank of Boston. Emmer and eight other members of Congress sent a letter to Susan Collins, president and CEO…

Bitcoin Is a Commodity — ‘There Is No Dispute About This’ – Regulation Bitcoin News

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U.S. Senator John Boozman says bitcoin, although a cryptocurrency, is a commodity in the eyes of the federal courts and the Securities and Exchange Commission (SEC) chairman. He stressed that exchanges where commodities are traded, including bitcoin, must be regulated and the Commodity Futures Trading Commission (CFTC) is the right regulator for the crypto spot market. Bitcoin Is a Commodity U.S. Senator John Boozman (R-AR), ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, talked about bitcoin and crypto regulation Thursday at the hearing titled “Why Congress…