Day: January 16, 2023

CoinFLEX attempts to hose down backlash over proposed new 3AC project

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Amid mounting criticism on social media, crypto investment firm CoinFLEX has attempted to clarify its plans to build a new crypto exchange with Three Arrows Capital (3AC). A leaked pitch deck on Jan. 16 revealed it was collaborating with the now-bankrupt hedge fund to build a proposed crypto exchange called “GTX” — which would focus on the trading of claims against bankrupt firms.  In a blog post published shortly after, CoinFLEX went on to “clarify misconceptions about the leaked materials concerning the proposed ‘GTX’ Exchange.” Firstly, CoinFLEX said it won’t actually be…

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Cronos (CRO) Prints Over 9% Gains In A Day While Market Sees Correction

As crypto assets recover from the 2022 crypto winter, Cronos (CRO) has recorded massive gains in 24 hours. Cronos’ trading volume has spiked by 301.28%, showing that the coin has attracted more trading activity. Generally, the crypto market has seen a slight price increase. Bitcoin, the number one cryptocurrency, has enjoyed a positive rally and has influenced the rise of altcoins such as CRO.  Cronos’ price surged by over 9% in 24 hours, continuing its impressive price action into 2023. The cryptocurrency’s wide range of applications in various spheres has…

Binance Launches Off-Exchange Settlement Solution ‘Binance Mirror’ for Institutional Clients – Bitcoin News

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The largest crypto-asset exchange by global trade volume, Binance, announced that its custody business has launched an off-exchange settlement solution for institutional clients. With this solution, institutions can lock a specified amount of crypto with a qualified cold storage wallet, and assets will be mirrored on their Binance exchange account with a 1:1 balance. Binance Mirror Allows Institutional Investors Access to Liquidity via Assets Held in Cold Storage On Monday, Binance announced the launch of an off-exchange settlement solution called “Binance Mirror.” Essentially, institutional investors can lock collateral by connecting…

DeFi Protocol Sushi Lays Out 2023 Plans With Focus on DEX and User Experience

The move comes after Sushi’s chief technology officer, Matthew Lilley, said in a tweet thread on Jan. 3 that two of its products – the Kashi lending platform and MISO, a launchpad for external tokens – would be shuttered because of low public interest and the significant effort that went into maintaining the two. Lilley said Sushi developers would focus more on the protocol’s DEX product. Source

Why A Morning Star Reversal Could Awaken A Monster Bitcoin Rally

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Bitcoin price is already turning heads after reclaiming $20,000 per coin, but if the current monthly candle closes on BTCUSD price charts, the top cryptocurrency will satisfy the conditions of a morning star reversal pattern.  The last time the signal occurred at the bottom of a major downtrend, Bitcoin began a two-year-long bull run in cryptocurrencies and went on to climb more than 6,000% after the morning star confirmed. Bitcoin Reclaims $20,000: A Wake Up Call For The Bull Market Bitcoin is once again above $20,000, but a lot has…

EU finance ministers’ group releases statement on political aspects of digital euro

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The finance ministers from the eurozone countries have released a statement on the introduction of the digital euro after a meeting in Brussels. The Eurogroup meets regularly to discuss political dimensions of the potential digital currency, it said. The Jan. 16 statement coincides with the release of a European Central Bank (ECB) “stock taking” document detailing the progress of digital euro design. The Eurogroup statement addressed the need for the European Central Bank and European Commission to inform the Eurogroup and EU member states of developments in the creation of…