Day: March 7, 2023

Recapping Cointelegraph Markets Proโ€™s Crypto Winter Recovery Summit

boss

On its live summit, โ€œThe Crypto Winter Recovery Plan,โ€ Cointelegraph Markets Pro revealed how traders could have mostly avoided a gut-wrenching 75% pullback in the crypto market while securing mind-boggling gains.ย  The Cointelegraph Markets Pro team argues that while hodlers tied their capital into a capitulating market, nimble Markets Pro members were able to capitalize on real-time, institutional-grade crypto market intelligence to capture significant risk-adjusted profits. The results were staggering! Cointelegraph Markets Pro traders couldโ€™ve secured returns up to 120 times their initial investment โ€” 12,000%, not 120% โ€” using…

BTC, ETH Stall Ahead of Powell Testimony โ€“ Market Updates Bitcoin News

boss

Bitcoin remained in consolidation earlier in Tuesdayโ€™s session, as markets prepared for this afternoonโ€™s testimony from Fed Chair Powell. The head of the U.S. Federal Reserve will be speaking in front of the Senate Banking Committee later in the day. Ethereum was also largely unchanged, as it traded close to a support point. Bitcoin Bitcoin (BTC) continued to trade sideways on Tuesday, as market uncertainty remained high ahead of Fed Chair Powellโ€™s testimony. Many believe that Powell will give some forward guidance into the Federal Reserveโ€™s current thinking, and how…

In crypto winter, DeFi needs an overhaul to mature and grow

For several months now, the decentralized finance (DeFi) sector has been on the receiving end of a major bear market, so much so that the total value locked within this space has slipped from its all-time high of $150 billion (achieved back in May 2022) to its current levels of just over $50 billion.ย  Despite this, the amount of capital flowing into this space from โ€œcentralized avenuesโ€ has grown, largely due to the collapse of FTX alongside other prominent entities like Celsius, Genesis, Vauld, etc. โ€” even doubling trading volumes…

Thailand to offer tax breaks for investment token issuers

boss

The government of Thailand is moving to benefit from the digital asset industry growth by allowing tax-free issuance of digital tokens for investment. Thailand’s cabinet has agreed to waive corporate income tax and value-added tax (VAT) for companies that issue investment tokens, Reuters reported. Announcing the news on March 7, deputy government spokesman Rachada Dhnadirek said that companies will be able to access alternative ways of raising capital through investment tokens in addition to conventional methods like debentures. Rachada added that the government expects investment token offerings to generate 128…

Argo Blockchain Records High Bitcoin Production and Revenue in February 2023

World-leading cryptocurrency miner Argo Blockchain recorded increased Bitcoin production despite the rise in network difficulty. On March 7, the company released its operations update for February 2023, which disclosed the remarkable monthly performance. In addition to high Bitcoin production last month, Argo Blockchain (NASDAQ: ARBK) also saw its revenue surge during the same period. Argo Blockchain Sees High Bitcoin Production Despite Network Difficulty According to the press release, the crypto mining company mined 5.7 BTC daily, 162 Bitcoin or Bitcoin Equivalents in February. Last monthโ€™s Bitcoin production represented a 7%…

European Markets Flat amid Impending Fed Chair Comments

European markets remained flat on Tuesday as all eyes are on Jerome Powellโ€™s imminent congressional statement.ย  European markets are currently flat as investors await the congressional testimony by Federal Reserve Chair Jerome Powell. For instance, the pan-European Stoxx 600 remained flat today as trading began, with most sectors hovering in slightly positive territory. Meanwhile, tech stocks were down 0.3% and at the forefront of modest losses. Conversely, retail was up 0.8% to lead gains. Powellโ€™s fiscal comments, which are due Tuesday and Wednesday, should provide further clues regarding the apex…

DeFi lender Tender.fi suffers exploit, white hat hacker suspected

boss

An alleged ethical hacker has drained $1.59 million from the decentralized finance (DeFi) lending platform Tender.fi, leading the service to halt borrowing while it attempts to recoup its assets. Web3-focused smart contract auditor CertiK, and blockchain analyst Lookonchain, flagged an exploit that saw funds drained from the DeFi lending protocol on March 7. Tender.fi confirmed the incident on Twitter, citing โ€œan unusual amount of borrowsโ€ through the protocol: We are investigating an unusual amount of borrows that came through the protocol- in the meantime, we have paused all borrowing. Thank…

Crypto Exchange Hacks and Insurance: Risks, Coverage, and Limitations

boss

In recent years, cryptocurrency exchanges have become a popular target for hackers, resulting in significant losses for both investors and exchanges. As a result of these threats, some exchanges have begun to offer insurance to protect their clients’ funds in the event of a hack. In this article, we will look at the risks associated with cryptocurrency exchange hacks, as well as the different types of insurance available and their limitations. Cryptocurrency Exchange Hacking Dangers Cryptocurrency exchanges are centralized platforms that facilitate cryptocurrency buying and selling. Because cryptocurrencies are so…

The Sandbox Launches 2,333 Gordon Ramsay Avatars

Metaverse gaming giant, The Sandbox has announced the launch of a new Non-Fungible Token (NFT) collection featuring Gordon Ramsay, a British chef, restaurateur, television personality, and writer. Taking to its official Twitter account, The Sandbox said the Hellโ€™s Kitchen Avatar collection as it is christened will feature 2,333 Ramsay Avatars. The minting for these Avatars is set for later this month of March and lucky holders will be able to gain access to play games on The Sandbox using one of the NFTs. ๐Ÿ”ช Get ready for a culinary adventure…