Day: December 30, 2022

Nic Carter dives into proof-of-reserves, ranks exchange attestations

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Bitcoin advocate Nic Carter has released an in-depth analysis of centralized exchange proof-of-reserves and ranked the attestations provided by some of the most prominent crypto trading platforms in the space.  Carter published a detailed examination of the quality of several exchanges’ proof-of-reserves (PoR). The crypto executive used parameters such as attestation to assets held and a disclosure of liabilities, incorporating a third-party auditor, demonstrating credibility by taking a PoR for all assets and committing to an ongoing procedure to determine which PoRs are of the best quality.  PoR scores of…

Dollar Loses to Digital Currencies in 2023, Former Russian President Medvedev Says – Bitcoin News

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Digital fiat currencies will spread next year while the U.S. dollar will be losing its status of global reserve currency, according to Russia’s former head of state. In a string of tweets, Dmitry Medvedev gave his two cents on what the future holds for the world, a “humble contribution,” as he put it, to the “wildest predictions” ahead of New Year’s Eve. Medvedev Sees World Bank Crashing, Musk in the White House and Expensive Oil The Bretton Woods monetary system will collapse next year causing the International Monetary Fund and…

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Solana joins ranks of FTT, LUNA with SOL price down 97% from peak — Is a rebound possible?

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Solana (SOL), the cryptocurrency once supported by Sam Bankman-Fried, pared some losses on Dec. 30, a day after falling to its lowest level since February 2021. Solana price down 97% from November 2021 peak  On the daily chart, SOL’s price rebounded to around $10.25, up over 20% from its previous day’s low of approximately $8.  SOL/USD weekly price chart. Source: TradingView Nevertheless, the intraday recovery did little to offset the overall bear trend — down 97% from its record peak of $267.50 in November 2021, and down over 20% in…

Regulators in the Bahamas Are Holding $3.5 Billion in FTX Customer Assets

Shortly after FTX filed for bankruptcy, about $372 million worth of tokens were stolen from the exchange by an unknown actor thought to be an external hacker. Given media reports of a cyberattack on FTX, and possible looting of FTX-controlled wallets by former employees, the Commission said in its media statement it “determined that there was a significant risk of imminent dissipation as to the digital assets under the custody or control of [FTX] to the prejudice of its customers and creditors.” Source

Ethereum Price Signals Bearish Moves, Test of $1,100 Seems Possible

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Ethereum is still showing bearish signs below the $1,200 zone against the US Dollar. ETH could continue to move down below the $1,180 support zone. Ethereum is attempting a minor upside correction towards the $1,200 barrier. The price is now trading below $1,200 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,195 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains at a risk of a larger decline towards the $1,100 level or even…

Two crypto-related ETFs were the worst-performing in Australia for 2022

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Cryptocurrency-related exchange-traded funds (ETFs) have taken the two top spots for the worst-performing ETFs in Australia for the year, with the same story playing out in the United States. BetaShares Crypto Innovators ETF (CRYP) and Cosmos Global Digital Miners Access ETF (DIGA) have provided investors Down Under with respective negative returns of nearly 82% and 72% year to date (YTD) throughDec. 30. BetaShares launched its ETF on the Australian Securities Exchange (ASX) in October 2021, mere weeks before most cryptocurrencies hit all-time highs that they’re yet to regain. CRYP was…

Nigerian Central Bank Spent Over $1.8 Billion Managing Local Currency – Economics Bitcoin News

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During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage the local currency, over 90% of this total was reportedly used to fund expenses associated with the production of banknotes. The Growing Cost of Maintaining the Naira According to Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), between the years 2017 and 2021, the apex bank spent an equivalent of nearly $1.8 billion, or 800 billion…

Despite the Frost of Crypto Winter, The Wrapture Holders Kept Their Cool

Part social experiment, part community building exercise, holders of the project were given a set of rules that would ultimately determine their NFT’s rarity and long-term value: If no one moved, listed or sold their asset for a year, the project would be capped at 50 editions and they would be free to move their art without consequence. But if one collector were to “break the rules,” the remainder of the 666 editions would be released to the public for minting. Source CoolCryptoFrostHoldersWinterWrapture CryptoX Portal