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“2023 continues to be challenging for investors especially during the first half of the year when the [Federal Reserve] is still hawkish, raising interest rates to control the inflation,” Zheng said. “The current crypto bear market cycle may end when the Fed stops raising interest rates (hopefully by the second half of the year), and any remaining leverage in the crypto market is eliminated. This includes debt borrowing related to certain major market participants (investment firms, distressed assets, mining companies, etc.).” Source CryptoFinallyGraspRegulatorsYear CryptoX Portal
We TraiCon Events will be hosting Vietnam’s premier fintech event titled as “Fintech Revolution Summit” supported by Fintech Association of Hong Kong scheduled on 27th & 28th March 2023 in the Hotel Grand Plaza Hanoi, Vietnam. This forum will be attended by over top 300+ participants includes BFSI experts, fintech leaders, ministry & central bank authorities, investors & corporates across the Vietnam. This summit aims to bring together fintech leaders & BFSI experts to discuss and deliberate the trends around financial technology and investment opportunities for finance sector. This dedicated…
On-chain data shows the Binance USD (BUSD) exchange reserves have declined recently, a factor that may be behind Bitcoin’s slowdown. Binance USD (BUSD) Exchange Reserves Have Gone Down As pointed out by an analyst in a CryptoQuant post, there was a very large inflow of $250 million BUSD just a while ago. The “exchange reserve” is an indicator that measures the total amount of a cryptocurrency (which, in the present case, is Binance USD) currently being stored on wallets of centralized exchanges. Generally, investors swap their coins for stablecoins like…
Avalanche (AVAX) came into the spotlight early at the beginning of 2023 by adding its blockchain support to Amazon Web Services (AWS) cloud. However, empirical and on-chain analysis suggests that Avalanche’s price surge is likely due to a broader cryptocurrency market pump which will likely end with the rest of the market. Is Avalanche’s Amazon news exaggerated? While integration with the world’s largest blockchain service is a positive step for Avalanche, the hype around its implications might be exaggerated. The evidence lies in a similar move that Avalanche’s team made…
“There’s still, I think, an unfinished debate about what the problem is, or is there a problem with crypto inherently,” she said. “People with the best intentions can make business mistakes, and crypto people can make big business mistakes that then impact on individuals, or further down the financial system.” Source
Two days ago, bankruptcy administrators and FTX debtors published an update for unsecured creditors claiming the discovery of $5.5 billion in liquid assets. Roughly $3.5 billion of these funds are cryptocurrency assets, with 11 different digital currencies classified as “liquid assets.” However, two of the firm’s top cryptocurrency caches are not liquid as the company’s 47.51 million SOL tokens are locked and the firm’s FTT balance distorts the realization of actual liquidity due to FTX’s control of more than 80% of the supply. Locked Solana and Illiquid FTT Assets to…
John Ray, who took over as CEO of cryptocurrency exchange FTX prior to bankruptcy proceedings, has reportedly set up a task force to consider restarting FTX.com. According to a Jan. 19 report from the Wall Street Journal, Ray said everything was “on the table” when it came to the future of FTX.com, including a potential path forward with rebooting the exchange. FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for Chapter 11 bankruptcy in November 2022. Ray reportedly was considering reviving…
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The Rideshare Killer a horror/thriller feature film that explores some of the potential risks of using ridesharing services, has just become the first “every frame minted” (EFM) film. The producers minted all 119,170 frames of the feature film into individual 1-of-1 NFTs on the Polygon Blockchain. With nearly 120,000 individual NFTs minted, The Rideshare Killer offers horror fans a unique way of supporting the film, owning a unique collectible that could possibly appreciate in value, and being a part of the film’s legacy. As the NFT space matures, more films…