Day: February 20, 2023

The fate of dollar-pegged stablecoins in question: Law Decoded, Feb. 13–20

boss

New week, a new element of the crypto ecosystem is under attack. This time, the United States Securities and Exchange Commission (SEC) ordered Paxos Trust to stop issuing Binance USD (BUSD) — a dollar-pegged stablecoin. Paxos received a cease order from the New York Department of Financial Services (NYDFS). With no other choice, Paxos announced that from Feb. 21, it would end its relationship with Binance for the branded U.S. dollar-pegged stablecoin BUSD. All existing BUSD tokens will remain fully backed and redeemable through Paxos Trust Company until “at least…

Morgan Creek’s Mark Yusko Forecasts Future of Crypto Exchanges, Says Next Bitcoin Bull Run Is Inevitable

boss

Morgan Creek Capital CIO Mark Yusko is weighing in on the future of crypto and whether the industry will remain dependent on centralized exchanges.   In a new interview, the hedge fund veteran says that a time will come when the crypto space will become more decentralized.  “There is a day in the future where exchanges are less necessary, when we can have a pure DeFi [decentralized finance] or a pure Bitcoin world. We’re not there, not even close, but someday. In the interim, we need some viable exchanges.” Looking at…

Cryptocurrency miners are leading the next stage of AI

boss

As artificial intelligence (AI) rapidly works its complex magic on one sector of the economy after another, there is an increasingly pressing need for compute resources to power all this machine intelligence.  Training a model like ChatGPT costs more than $5 million, and running the early ChatGPT demo, even before usage increased to its current level, costs OpenAI around $100,000 per day. And AI is more than just text generation; applying AI to practical problems across multiple industries requires similar large neural models trained on a diversity of data types…

Bitcoin bulls ignore recent regulatory FUD by aiming to flip $25K to support

boss

It might seem like forever ago that Bitcoin (BTC) was trading below $18,000, but in reality, it was 40 days ago. Cryptocurrency traders tend to have a short-term memory, and more importantly, they attribute less importance to negative news during bull runs. A great example of this behavior is BTC’s 15% gain since Feb. 13 despite a steady flow of bad news in the crypto market. For instance, on Feb. 13, the New York State Department of Financial Services ordered Paxos to “cease minting” the Paxos-issued Binance USD (BUSD) dollar-pegged stablecoin.…

Bitcoin bulls ignore the recent regulatory FUD by aiming to flip $25K to support

It might seem like forever and a day ago when the Bitcoin (BTC) price was trading below $18,000, but in reality, it was 40 days ago. Generally, cryptocurrency traders tend to have a short-term memory and, more importantly, they attribute less importance to negative news during bull runs. A great example of this behavior is BTC’s 15% gain since Feb. 13, despite a steady flow of bad news in the crypto market. For instance, on Feb. 13, the New York State Department of Financial Services (NYDFS) ordered Paxos to “cease…

Ethereum’s Transition to Proof-of-Stake Yields Deflationary Results – Altcoins Bitcoin News

After the transition from proof-of-work (PoW) to proof-of-stake (PoS), Ethereum’s annual issuance rate has been reduced to negative 0.057%, according to statistics 158 days after The Merge. The metrics indicate that more ethereum tokens have been removed than issued, and if the chain were still under PoW consensus, 1,823,678 ether would have been minted to date. Ethereum’s Negative Annual Issuance and Unlocked Ether in March Could Shift Equilibrium Statistics from the analytics website ultrasound.money show that the Ethereum network is deflationary these days. More than 1.023 million ether is removed…

Price analysis 2/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

boss

Bitcoin’s tight consolidation near $25,000 suggests that bulls are holding on to their positions in anticipation of a breakout to a new 2023 high. Bitcoin (BTC) rose more than 11% last week and is trading near the pivotal resistance at $25,000. Monitoring resource Material Indicators highlighted in its latest update that large volume traders were “thinning” overhead resistance, which could spark a rally. As the prices rise, retail traders may get sucked in and the whales could use this opportunity to sell their positions that were accumulated at lower levels.…

TOTHESMART Is Transitioning to Its Own Token What Is the TTS Token Phenomenon? – Press release Bitcoin News

boss

press release PRESS RELEASE. TOTHESMART is a PlayToEarn mining farm built on Binance Smart Chain blockchain. The project works on decentralization principles and believes that the best way to develop community and promote blockchain industry in Mass Adoption is a game engine with open rules of the Game prescribed in blockchain. The project was released more than 200 days ago. We’ve already wrote about it in a previous press release. TOTHESMART uses stable BUSD token to interact with smart contract mining farm, but due to a series of high-profile negative…