Day: March 25, 2023

Former OKX Investment head accused of sexual harassment

A former head of OKX Investment and founding partner of Ant Financial’s A&T Capital, Jun Yu, is reportedly facing serious allegations of sexual harassment from multiple women, including his employees at A&T Capital. The allegations were made public through social media, with one Twitter user, sukie.eth, saying Yu sexually harassed her. Crypto reporter Colin Wu amplified the woman’s allegations in a tweet, where he implied that Yu was a habitual offender, with more than one woman making the same accusations against him. Several women have accused Jun YU, founding partner of Ant…

BTC Fall Towards $27,000 to Start the Weekend – Market Updates Bitcoin News

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Bitcoin moved close to a breakout below $27,000 on Saturday, as markets moved lower following a volatile week of trading. Market uncertainty was high this week, as traders digested the latest Federal Reserve interest rate hike, as well as the on-going global banking crisis. Ethereum remains below $1,800 as of writing. Bitcoin Bitcoin (BTC) started the weekend consolidating below the $28,000 mark, as market volatility eased on Saturday . Following a high of $28,208.21 on Friday, BTC/USD moved to an intraday low of $27,039.27 earlier today. As a result of…

What is fiscal policy, and why does it matter?

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Fiscal policy is a tool used by governments to regulate economic activities in their country. It involves the use of government spending, taxation and borrowing to influence economic growth, stabilize inflation and maintain a stable economy. This article will explain what fiscal policy is, how it works, and why it is important. What is fiscal policy? Fiscal policy is a tool used by governments to regulate economic activities in their country. It is one of the two main categories of economic policy, along with monetary policy. The main goal of…

Tether set to post $700m in profits for Q1 2023

Tether, the company behind the most widely used stablecoin, USDT, has announced that it expects to report a profit of $700m for Q1 2023. According to Tether’s chief technology officer (CTO), Paolo Ardoino, the projected profit for Q1 2023 would match the profit of Q4 2022, which was also $700m. It means that Tether would have a total of $1.6 billion in excess reserves by the end of March 2023 and an increase in its circulation of 18%, reaching $78b as of this writing. It makes USDT the most widely used…

Federal Reserve bars Custodia, says operations inconsistent with the law

The board of governors of the Federal Reserve System, better known as the Fed, has officially confirmed that they denied Custodia their application to be part of its network. The Fed is concerned about Custodia’s abilities In an updated statement on Mar. 24, the United States central bank said they were concerned about Custodia’s business model.  Earlier in January, the Fed released a statement saying they denied the bank their application because they concentrated on one facet of the economy, presenting “safety and soundness risks.”  Now, according to this week’s report, the…

Arbitrum Discord hacker shares phishing announcement amid airdrop hype

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The crypto community’s warning against fake Arbitrum (ARB) airdrops materialized as hackers managed to drop a phishing link into Arbitrum’s official Discord server. On March 25, blockchain-focused security firm CetriK revealed the possibility of a phishing link being circulated via the Arbitrum Discord server. It is suspected that a hacked Discord account of one of Arbitrum’s developers was used to share a fake announcement with a phishing link. #CertiKSkynetAlert We are seeing reports that a phishing link has been posted in the @arbitrum Discord Server. Do not click on any…

Bitcoin Was a Winner During the U.S. Banking Crisis, but Illiquidity Prevents It From Being a USD Hedge

When liquidity is low in any financial market, volatility is high in both directions. Prices have less support on both the downside and the upside. In this instance, the narrative of bitcoin as a hedge against financial calamity gave BTC the push it needed. But there was little upside resistance to hurdle over: BTC market depth, the number of orders waiting to be filled on an order book, reached 10-month lows this week – that’s lower than levels seen since the collapse of the FTX exchange and sister firm Alameda…

In-Chat Tether Transfers Introduced in Telegram – Bitcoin News

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Users of the Telegram messenger will now be able to send each other the leading stablecoin, tether (usdt), directly in the chats. The new option expands the list of cryptocurrencies available for purchase, sale, and trade in the messaging app. Tether Added to Wallet Bot in Telegram Messenger Support for transactions with the U.S. dollar-pegged tether, the largest stablecoin, has been introduced in Telegram, the most popular messaging service in the crypto space. USDT has been integrated in the Telegram Wallet bot, allowing users to buy, sell, exchange as well…

How to buy and sell NFTs on Nifty Gateway

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Nonfungible token (NFT) marketplaces transacted roughly $82 million in 2020 and a staggering $17.6 billion in 2021, indicating a rising demand and high user interest in NFTs. This meteoric rise of digital asset trading ranged from whimsical cartoon JPEGs to National Basketball Association trading cards, artwork, music and more. One such marketplace for collecting and trading NFTs is Nifty Gateway. Nifty Gateway was founded in 2018 by Duncan Cock Foster and Griffin Cock Foster. In 2019, it was acquired by Tyler and Cameron Winklevoss’ cryptocurrency exchange, Gemini. Nifty Gateway positions…

Sony eyes NFT transfers across multiple game platforms, reveals patent

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Sony Interactive Entertainment, the video game goliath running the PlayStation brand, filed a patent for a framework allowing users to transfer and utilize nonfungible tokens (NFTs) across multiple game platforms.  Over several years, Sony’s interest in crypto has been evidenced by numerous partnerships and trademark registrations. Adding to this list, Sony filed a patent titled “NFT framework for transferring and using digital assets between game platforms.” Snippet of Sony’s NFT framework patent filing. Source: patentscope.wipo.int Sony’s NFT framework aims to integrate NFTs into gameplay, wherein the technology can represent skins and…