Day: December 13, 2022

Silvergate Shares Drop to Fresh 2-Year Low Amid FTX Testimony

“Traders don’t want to hold Silvergate Capital this week as fears that any testimony from FTX could be damning,” said Edward Moya, senior market analyst of the Americas at OANDA. “Lawmakers are trying to find out everything that went wrong with FTX and some of that could spill over to Silvergate. Everyone wants to know if and how Silvergate played a pivotal role in the transferring of customer funds from FTX to Alameda. Any companies with ties to FTX will likely come under tremendous scrutiny.” Source

Brazil Central Bank to Launch a CBDC in 2024

“Greater inclusion, lower cost, intermediation, competition with reduced barriers to entry, efficiency in risk control, monetization of data, complete tokenization of financial assets and contracts,” Campos Neto said. “This is what we see in this digital economy in Brazil.” Source

PancakeSwap (CAKE) Slides Below Range, Is This An Entry Point For Buyers?

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PancakeSwap (CAKE) has been trading against the broad market, especially when major market movers have rallied. The coin has lost 0.8% over the last 24 hours and still depicts no decisive price action on the chart. Despite the CPI data release, the coin has remained unaffected by that development. CAKE traders are still wary of the asset’s next price movement. The technical outlook for the coin has painted a bearish picture on the chart. Although that seems to be the case, there could be a scenario in which CAKE makes…

MetaMask Institutional, Cobo and Gnosis DAO team up for soulbound token project

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Soulbound tokens (SBTs) are becoming a mainstay in the Web3 space for users and projects to define themselves in digital reality.  A Dec. 13 announcement from Cobo, a digital asset custodian and blockchain technology developer, revealed a new SBT project which unites crypto industry giants to cater to users’ developing digital identities. Cobo, MetaMask Institutional and Gnosis DAO teamed up to create “Evolution,” an SBT project, a tool to help users define themselves in digital reality and stay up to date on industry trends. A spokesperson for Cobo told Cointelegraph…

ConsenSys launches zkEVM private beta testnet

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Web3 ecosystem developer ConsenSys unveiled its zero-knowledge Ethereum Virtual Machine (zkEVM) network for private beta testing via a blog post on Dec. 13. Designed and operated by ConsenSys, developers can deploy and manage decentralized applications using tools such as MetaMask, Truffle and Infura as if they were using the EVM directly. In addition, users can bridge assets between the Goerli testnet and the zkEVM to test their smart contracts and decentralized applications, or DApps.  “Testnet participants can also bridge tokens, transfer tokens, and interact with deployed dApps listed on our upcoming…

AVAX Hits 1-Week High, as LTC Also Climbs Following US Inflation Data – Market Updates Bitcoin News

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Avalanche rose to a one-week high on Tuesday, as markets reacted to the latest inflation report in the United States. Consumer prices rose to 7.1% in November, which was lower than the 7.3% markets had expected. The figure was also 0.6% lower than October’s reading of 7.7%. Litecoin also rebounded on the data, rising by over 6%. Avalanche (AVAX) Avalanche (AVAX) was a notable gainer on Tuesday, as prices surged following the release of U.S. inflation figures. November’s consumer price index (CPI) came in at 7.1%, which was lower than…