Day: January 6, 2023

Binance joins association to address compliance with global sanctions

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Binance has become one of the first crypto firms to join the Association of Certified Sanctions Specialists, ACSS, in an effort to stay in compliance with global sanctions. In a Jan. 6 announcement, Binance said its team of sanctions compliance personnel would be undergoing training as part of the certification process at ACSS. According to the association’s website, the group offered an examination addressing “knowledge and skills common to all sanctions professionals in varied employment settings.” “The blockchain industry is still in its early years, and it’s our priority to…

Crypto companies aim to build trust within future products and services

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The cryptocurrency ecosystem underwent a turbulent year in 2022. Criticism inside and outside of the crypto industry was fueled following the collapse of FTX, Celsius, Three Arrows Capital and the Terra ecosystem.  A number of losses have been recorded from these events. Blockchain analytics firm Chainalysis released a report in December of last year, which noted that the depegging of Terra’s stablecoin, Terra USD Classic (USTC), saw weekly-realized losses peak at $20.5 billion. Findings further show that the subsequent collapse of Three Arrows Capital and Celsius in June 2022 saw…

Future of Ethereum After the Merge

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Vitalik Buterin and Ethereum developers are among CoinDesk’s Most Influential 2022, following the blockchain’s historic upgrade … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

M-Ventures Partner Leo Zhao’s Speech on 2023 Trends and Opportunities in Web3

The need for better transparency and compliance with laid down rules will be critical in 2023. In a recent speech, Leo Zhao, a venture partner of M-Ventures which is MEXC, a global cryptocurrency exchange, talked about the various opportunities and prospects the cryptocurrency market could provide for institutions in 2023. Leo explored the following core points: How blockchain layer-2 solutions and Zero Knowledge Proofs technology are maturing. The state of crypto mainstream adoption Transparency and regulatory compliance Review of the Current Market LUNA and FTX The significant drop in Crypto…

Singapore Arbitrator Rules Against Mining Software Firm Poolin’s IOU Model, But the Firm Hasn’t Paid Yet

The firm had originally said on Sept. 13: “In practice, PoolinWallet will offer IOU-token to token single-direction swap in the Trade function, allowing users to trade their IOUBTC to BTC, IOUETH to ETH, IOUUSDT to either USDT or USDC, IOULTC to LTC, IOUZEC to ZEC, IOUDoge to Doge, quarterly. Also, PoolinWallet is likely to increase the frequency and amount of redeem as long as the liquidity becomes available, meanwhile, users could withdraw their IOU tokens and trade on chain or even with third parties (if available) freely.” Source

Bitcoin yo-yos on US macro data amid call for BTC price to retest $17K

Bitcoin (BTC) flashed volatility at the Jan. 6 Wall Street open after fresh United States economic data disappointed risk-asset bulls. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst: BTC price in line for $17,000 retest Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $16,669 on Bitstamp around non-farm payrolls and unemployment figures. Both those came in better than expected, with mixed implications for the Federal Reserve having room for maneuver when it comes to its continued tightening of monetary policy. There may be some chance of relief for…

Why Bitcoin Will Come Out Ahead In A Recession, Analyst Says

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Bitcoin keeps moving with no clear direction in the first week of 2023. Following a rejection from a critical resistance zone, the cryptocurrency returned to its range and could be gearing up for a re-test of support.  In the meantime, altcoins are blooming, with many recording profits on high timeframes. As of this writing, Bitcoin (BTC) trades at $16,700 with sideways movement in the last 24 hours. In the previous seven days, BTC records similar price action.  BTC’s price moving sideways on the 4-hour chart. Source: BTCUSDT Tradingview BTC In…

Balancer warns some LPs to remove liquidity ASAP because of a ‘related issue’

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In a Jan. 6 tweet, DeFi protocol Balancer warned certain liquidity providers to remove their LPs “ASAP” due to an ongoing issue related to some of the service’s pools. Some pools have had their fees set to zero by the balancer emergency multisig, but the team indicated that not all effects of the still unknown issue could be mitigated in this way. Balancer listed the pools that need to be withdrawn to include DOLA / bb-a-USD on Ethereum, It’s MAI life and Smells Like Spartan Spirit on Optimism, and Tenacious Dollar…

Why Bitcoin volatility falling to lows this week might be bad news

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Bitcoin’s volatility fell near an all-time low this week, and while the stillness of the price action these past couple months may be welcome, investors may not want it to last forever. Volatility has always been a key characteristic of the cryptocurrency. Lately, some investors have been comforted to see bitcoin react less to volatile macroeconomic events, especially as the stock market stayed highly sensitive to them. On top of that, bitcoin has been relatively stable in the wake of the FTX implosion, aside from an initial decline when the…