Day: February 6, 2023

Bitcoin trader fears a bear market comeback: Watch the US dollar

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Bitcoin (BTC) stayed motionless at the Feb. 6 Wall Street open as analysis showed an “interesting dynamic” in play on BTC price charts. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin: Golden cross meets death cross Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ignored the start of United States equities trading to stay near $22,800. The pair had seen flash volatility into the weekly close, abandoning levels nearer its six-month highs above $24,000. Bitcoin thus worried market participants as the week began, with an increasing number…

DeFi Lender Alchemix Approves ALCX Token Buyback Plan

If all goes to plan, the proposal sees an increase in Alchemix’s CRV and CVX revenue generated by its alAsset trading pools, currently projected around $300,000 a month. This revenue is what will partly fund the new buyback and bribe program. Previously, Alchemix sent half of its “harvest” to its treasury and staked half into Curve and Convex, but now those levels drop to a third. Source

What are decentralized social networks?

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A social network is a platform or service that enables users to set up either fully or partially public profiles, share content and connect with other users based on common interests, life experiences, or personal connections. Since its emergence in the mid-1990s, social media has become an important and undoubtedly integral part of people’s everyday lives, covering half of the world’s population. The rise of social media is not surprising since social networks as a phenomenon have many benefits and catching features.  First and foremost, social media can connect friends,…

Hong Kong Regulator Wants to Beef Up Its Staff Covering Virtual Assets

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FTX Debtors Demand Return of Funds Given to US Politicians and Super PACs – Bitcoin News

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FTX debtors are seeking to claw back millions of dollars given to U.S. political action committees (PACs) and political figures. Confidential letters have been sent to individuals and organizations, requesting the return of the funds by Feb. 28, 2023. Some bureaucrats, such as Democratic Senators Joe Manchin and Tina Smith, have already pledged the funds to charity. It is uncertain whether they will be required by law to repay the funds to the now-bankrupt FTX estate. US Political Elite Under Pressure to Repay FTX Contributions Before Deadline It is widely…

Community votes to deploy Uniswap v3 on Boba Network

Members of the Uniswap community voted in favor of deploying Uniswap v3 on Boba Network’s layer-2 protocol on Ethereum.  Gaining over 51 million votes, the proposal submitted by Boba Foundation and FranklinDAO to deploy Uniswap v3 in Boba Network passed. This means that the Boba Network will be the sixth chain to deploy Uniswap v3, with the deployment scheduled to proceed in the coming weeks. The move was backed by several entities such as GFX Labs, Blockchain at Michigan, Gauntlet and ConsenSys. According to Alan Chiu, the co-founder and CEO…

Lightning Network Surges to All-time High as Bitcoin Short-term Rally Continues

As use case appeal strengthens, the Lightning Network is now at an all-time high of over 5,490 BTC or $128 million in capacity.  According to reports, the Lightning Network recently attained an all-time high as Bitcoin continues to rally. According to The Block, the amount of BTC locked in the Bitcoin (BTC) payments network reached a record high, with the Layer 2 network’s capacity growing by more than 5,490 BTC. This increment, which translates to $128 million, is up from the 3,350 BTC recorded early last year. Lightning Network All-time…

Elon Musk Says His Twitter Acquisition Saved Company from Bankruptcy

Outspoken billionaire Elon Musk claims to have saved Twitter from bankruptcy and looks to transform the company’s fortunes.  Elon Musk claims that his $44 billion acquisition of Twitter last October saved the social media giant from bankruptcy. According to the brash Tesla CEO, his purchase of the popular microblogging platform proved timely and prevented Twitter from slipping into insolvency. Musk replied to a tweet from The Wall Street Journal, and highlighted his recent operational obligations, saying: “Last 3 months were extremely tough, as I had to save Twitter from bankruptcy while fulfilling essential Tesla & SpaceX duties.…

FCA Warns of 2 Years Imprisonment for Unauthorized Crypto Asset Financial Promotions

The FCA said a crypto asset business registered under the MLRs with the agency could conduct the promotion. The UK Financial Conduct Authority (FCA) has warned crypto companies within the nation to get ready for new rules on crypto asset promotions. The financial watchdog released a statement on the 6th of February, stating that crypto asset firms must comply with the new financial promotions regime or face the consequences of violation. FCA Discusses Unauthorized Crypto Asset Financial Promotions In the press release, the FCA explained that the government revealed its…