Day: December 30, 2022

Central Bank Gold Demand Rose at the Fastest Pace in 55 Years, Analyst Says Silver Could Outperform Gold in 2023 – Bitcoin News

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According to a myriad of reports, the People’s Republic of China has been buying hoards of gold during the last year. Consequently, World Gold Council (WGC) statistics show the demand for gold by central banks has risen at the fastest pace in 55 years. Meanwhile, Wells Fargo’s head of real asset strategy, John LaForge, contends that when silver starts outperforming gold, it usually signals it is “closer to a bull market in precious metals versus the other way.” The World’s Central Banks Are Hoarding Large Sums of Gold, China Recently…

Did DOJ Just Classify MNGO as Commodity?

The arrest of Mango Markets exploiter has drawn reactions from the crypto community, particularly regarding the terms of the charges he faces. Mango (MNGO) markets exploiter, Avraham Eisenberg, was recently arrested in Puerto Rico on charges bordering on market manipulation and fraud. The arrest followed after the crypto investor took advantage of a loophole on the DeFi trading platform Mango Markets. The mid-October exploit saw Eisenberg making away with $110 million worth of crypto, eventually causing the platform to become insolvent. Eisenberg, however, insists that he and his team had…

Why DAOs Need to Adopt a Two-Treasury System

Using a two-treasury system, the base layer would focus on building the necessary technical infrastructure such as the blockchain, bridging tools and other tooling. Meanwhile, the ecosystem layer will focus on supporting builders and entrepreneurs that are building Web3 businesses, applications and protocols. Source

P2E gaming is in a long ‘maturation phase’

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As the hype surrounding play-to-earn (P2E) games and platforms began to dwindle in early 2022, Web3 participants began to emphasize the need for games to be more “fun” and less finance-oriented.  In the most recent episode of NFT Steez, Alyssa Expósito and Ray Salmond speak with Aron Beierschmitt, the CEO of Laguna Games and founder of Crypto Unicorns, about the sustainability of P2E-focused blockchain games.  For Beierschmitt, the evolution from a play-to-earn to a play-and-earn model suggests that there is still experimentation and maturation to be seen for these games. “Nothing…

Is 2023 The Comeback Year for HBAR NFTs?

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The year 2022 has not been kind to the NFT market and the crypto industry as a whole. However, Hedera’s partnership with LG Art Lab might somehow bring a new wave of enthusiasm for digital art.  NFT Interest On The Rise Again?  A recent interview done by Crypto Digest with The HBAR Foundation’s Chief Legal Officer Jorge Pesok sheds some insight into the current state of NFTs in the Hedera L1 ecosystem. According to the interview, more than 150 projects are granted support by the company.  Pesok also mentioned that…

$8K dive or $22K rebound? Bitcoin traders anticipate Q1 BTC price action

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Bitcoin (BTC) is approaching the end of 2022 at levels not seen in over two years — what do traders think will happen next? BTC price reeling from USD strength Currently down 15% in Q4 and over 60% year-to-date, BTC/USD has few bullish allies as 2023 looms. Struggling to recover from the ongoing FTX scandal and associated fallout, the largest cryptocurrency giving back all the gains seen since late 2020 is indicative of the crypto market as a whole. Risk assets are in a precious position themselves, as Cointelegraph reported,…

Treasury Yields Climb as Investors Anticipate Better Market in 2023

The 2-year and 10-year Treasury yields increased as investors continue to monitor cues to set the pace for 2023. US Treasury yields rose on Friday, December 30th, as investors look ahead to the potential developments and headwinds of 2023. The benchmark 10-year Treasury yield was up nearly 2 basis points to 3.8520% during the early session. In addition, the 2-year Treasury yield climbed more than 3 basis points to 4.4009% as of 5:00 am Eastern Time. Treasury Yields Previously Expected to Climb as 2023 Beckons Exactly a week ago, reports also suggested…

Cathie Wood ‘Bargain Hunts’ Coinbase

Noted investor Cathie Wood’s ARK Invest made its largest investment in Coinbase’s (COIN) stock since Dec. 14 on Thursday, adding about $5.5 million of the crypto exchange’s shares, based on closing prices. The firm bought more than 158,000 shares for its ARK Fintech Innovation ETF. Coinbase’s stock closed at $34.78 in New York Thursday, up roughly 7%. The shares have fallen 86% this year. Source

Here’s how SBF’s fake electronics outlet ‘North Dimension’ looks like

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As the malpractices of the FTX continue to pop up and be uncovered by the prosecution, it turns out the disgraced crypto exchange’s customers were sending money to a fake electronic online shop, which was reportedly opened by Sam Bankman-Fried.  In its complaint, filed on Dec. 13, the United States Securities and Exchange Commission (SEC) mentioned North Dimension Inc, an Alameda subsidiary that was a vital part of the FTX financial malpractice. According to the complaint, Bankman-Fried directed FTX to have customers send funds to North Dimension bank accounts in…