Day: January 20, 2023

Wrapped Bitcoin Project Sees 18% Redemption of Circulating Supply in 54 Days – Altcoins Bitcoin News

boss

Statistics show over the course of 54 days, the number of wrapped bitcoin (WBTC) hosted on the Ethereum network has decreased by 40,156. This equates to a more than 18% redemption of the circulating supply of WBTC since Nov. 27, 2022. WBTC Remains Largest Operation in Terms of Bitcoin Custody Despite Recent Redemptions The Bitgo-backed Wrapped Bitcoin (WBTC) project has been officially in operation since the end of January 2019 and has grown significantly since its launch. At the time of writing, it is the largest operation in terms of…

Bitcoin price rally provides much needed relief for BTC miners

boss

Bitcoin mining powers network transactions and BTC price. During the 2021 bull run, some mining operations raised funds against their Bitcoin ASICs and BTC reserves. Miners also preordered ASICs at a hefty premium and some raised funds by conducting IPOs.  As the crypto market turned bearish and liquidity seized within the sector, miners found themselves in a bad situation and those who were unable to meet their debt obligations were forced to sell the BTC reserves near the market bottom or declare bankruptcy Notable Bitcoin mining bankruptcies in 2022 came…

Bitcoin Short Squeeze May Reach $30K, Crypto Trader Predicts

boss

As Bitcoin breaks out of the $21k level, many crypto analysts have begun projecting further rallies for the asset. One of the famous crypto strategists, Crypto Kaleo, recently gave a high price prediction for the world’s largest cryptocurrency. Addressing his over 550,000 followers on Twitter, Kaleo says BTC is preparing for a rally to $30,000. Bitcoin last saw $30,000 during the bear market in June 2022. However, the crypto strategist believes there would be fluctuations as Bitcoin targets $30,000, albeit his bullish stance. In his words, the market should expect…

Blockchain Smart Contracts, Explained

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Smart Contracts are an important part of blockchain technology. In this video, we will explain what do we mean by contracts and … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Stellar joins CFTC’s Global Markets Advisory Committee as one of four crypto orgs

boss

The Stellar Development Foundation (SDF) has become the newest member of the United States Commodity Futures Trading Commission (CFTC) Global Markets Advisory Committee (GMAC), the blockchain announced on its blog. The committee is preparing to meet on Feb. 13 for the first time in over a year. SDF supports the Stellar blockchain, which is used for crypto-fiat transfers. The foundation will be represented on the committee by chief operating officer Jason Chlipala. He wrote in the company blog that “we hope to bring the unique perspective of Layer 1 protocols”…

Former FTX President Launches New Crypto Venture, Raises $5 Million From Leading Investors – Bitcoin News

boss

Less than a week ago, Brett Harrison, the former president of FTX US, published a 49-part Twitter thread describing his side of the story when he worked for the disgraced co-founder of FTX, Sam Bankman-Fried (SBF). On Friday, Jan. 20, 2023, Harrison revealed that his new firm, Architect, has raised $5 million from investors such as Circle Ventures, Coinbase Ventures, and SALT Fund. Brett Harrison’s Architect Aims to Connect Institutional Investors Across Decentralized and Centralized Exchanges Brett Harrison, the former president of FTX who left the company in Sept. 2022,…

DeFi should complement TradFi, not attack it: Finance Redefined

boss

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Following FTX’s demise, the DeFi space is up for a complete remodel as crypto users demand better security and compliance practices. SushiSwap’s roadmap for the coming year includes the development of a decentralized exchange (DEX) aggregator, a decentralized incubator and “several stealth projects.” All these projects combined can grow its market share 10x, said the CEO. The co-founder and CEO of Ava Labs spoke…

Bitcoin Soars Over $22K to Reach Four-Month High

The largest cryptocurrency by market capitalization was recently trading as high as $22,387, up 5.4% over the previous 24 hours, shrugging off the announcement late Thursday that Genesis Global Holdco LLC, the parent company of troubled cryptocurrency lender Genesis Global Capital, had filed for Chapter 11 bankruptcy protection late Thursday (Genesis and CoinDesk are owned by Digital Currency Group). Original Source 22KBitcoinFourMonthHighReachSoars CryptoX Portal