Singapore-based exchange Huobi confirmed Thursday that Justin Sun, founder and CEO of Tron, and one of the richest people in crypto, is not just a member of the Global Advisory Board, but is leading the exchange. Source 039RatAimConfirmingHuobiJustinLeaderSunTakesTrading039 CryptoX Portal
Moonstone Bank, a rural Washington state bank that received an estimated $11.5 million investment from FTX’s sister company, Alameda Research, says that it will be exiting the crypto space and returning to its “original mission” as a community bank. In a Jan. 18 statement, the bank said that the change in strategy comes as a result of “recent events in the crypto assets industry and the changing regulatory environment surrounding crypto asset businesses.” As part of the bank’s initiative to “return to its roots,” it said that it will no longer…
Bitcoin (BTC) and ether (ETH): The largest cryptocurrency by market value was recently trading around $21,100, up 1.5% over the past 24 hours. BTC regained ground it lost when it dipped the previous day. Ether was recently trading up 0.6% to $1,550. Both BTC and ETH have risen 13% and 7%, respectively, over the past seven days. Original
Chris Sununu, the governor of New Hampshire, has released the results of an investigation from a commission aimed at recommending legislation around digital assets and blockchain as part of a 2022 executive order. In a Jan. 19 announcement, Sununu said the Commission on Cryptocurrencies and Digital Assets had reported the legal and regulatory status of cryptocurrencies and digital assets was “highly uncertain,” stymying development and leading to less protection for investors and consumers. The group recommended New Hampshire establish a state legal regime aimed at drawing in blockchain firms and…
Anthony Scaramucci, the founder of Skybridge Capital, thinks failed crypto exchange FTX cannot be saved following its bankruptcy filing. Ex-FTX Boss’ Betrayal In an exclusive interview while attending the World Economic Forum in Davos, Switzerland, the founder and American entrepreneur opined that there is no way the exchange could be saved. Still, Scaramucci considers the founder of FTX, Sam Bankman-Fried, a friend who was given a seat at the table of “high-profile people.” The problem is he feels betrayed that Sam turned out to be “delusional” and allegedly a fraud. Whether…
Bitcoin was hovering near $21,100 Thursday in afternoon trading. Genesis’ looming bankruptcy filing and the crypto industry’s other recent travails should be priced in, one analyst said. Source
The Bank for International Settlements looked under the hood of decentralized finance (DeFi) in a new working paper and introduced the DeFi stack reference (DSR) model to illustrate the technology’s functionality and risks. The report discussed the integration of DeFi with traditional finance and suggested ways to assess its risks during that integration. The paper examined the architecture, technical primitives and functionalities of DeFi protocols in considerable technical detail. “A deep understanding of DeFi is still lacking in many circles,” the authors wrote, “which calls for a specific framework for…
The decentralized exchange aggregation service 1inch Network has announced the launch of a cold storage hardware wallet. The team notes that the project is in its final stages of development. The hardware wallet, expected to go on sale later this year, features a 2.7-inch e-ink grayscale touch display and it does not require a wired connection. New Hardware Wallet From 1inch Network Offers Air-Gapped, Offline Storage for Crypto Assets On Thursday, the decentralized finance (defi) project 1inch Network announced the launch of a new hardware wallet that will go on…
The total crypto market capitalization soared by 29.4% in two weeks, although Bitcoin’s (BTC) price stabilized near $21,000 on Jan. 19. As a result, it became increasingly difficult to justify that the five-month-long bearish trend still prevails after the $930 billion total crypto channel top has been breached. Still, the psychological $1 trillion resistance remains strong. Total crypto market cap in USD, 2-day. Source: TradingView The move possibly reflects investors becoming more optimistic about risk assets after weaker than expected inflation metrics signaled that United States Federal Reserve interest rate…
If the foreign exchange market starts using decentralized finance (DeFi) protocols instead of the current centralized systems, the cost of remittances could be reduced by “as much as 80%,” according to a Jan. 19 paper jointly published by researchers at Circle and Uniswap. On-chain foreign exchange (FX) is a new model of global value exchange that offers a faster, cheaper, and more efficient alternative for cross-border payments. Our recent research paper with @circle has it all https://t.co/NGniRo8yrp — Uniswap Labs (@Uniswap) January 19, 2023 The paper, titled “On-chain Foreign Exchange…