Day: March 27, 2023

Bitget Becomes the First Centralized Exchange To Offer Financial Transparency Through Space and Time

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March 27, 2023 – Victoria, Seychelles Bitget, the largest crypto copy trading platform, has announced a strategic partnership with Space and Time (SxT), a leader in decentralized data warehousing. The partnership will enable Bitget to offer users unparalleled transparency of exchange operations with a verifiably tamperproof audit trail of data and computation. Bitget is the first centralized exchange to leverage a decentralized data warehouse. The trustless Space and Time platform will provide Bitget users with verifiable evidence that the exchange holds the assets it claims to own on behalf of…

The ‘Skull of Satoshi’ Proves Bitcoin Mining Discourse Isn’t Dead

Without getting into too much detail, the conversation about moving Bitcoin from proof-of-work to something else, like proof-of-stake (PoS), which doesn’t use much energy, is generally a nonstarter. Bitcoin will almost certainly never move away from proof-of-work. That isn’t obvious from the outside, so that’s exactly where Von Wong began his journey to understand bitcoin mining. Source

Traditional finance fears drive digital asset investment inflows to $160M

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On March 27, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital assets continue to attract investors’ attention as concerns over the stability of traditional finance (TradFi) continues to grow.  According to the latest report, investment products in digital assets experienced inflows of $160 million last week, the largest since July 2022, marking a significant reversal after six weeks of outflows totaling $408 million. The report also noted that “while the inflows came relatively late compared to the broader crypto market,” investors are increasingly…

CFTC Sues Binance for Illegal Derivatives Exchange, “Numerous Violations”

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The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against cryptocurrency exchange Binance and Changpeng Zhao, its Chief Executive Officer, for “numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations. The US derivatives market regulator also charged Binance for operating an illegal digital asset derivatives exchange. The agency disclosed these on Monday, noting that it filed the charges before a district court in Illinois. According to the regulator, Binance acted as “a designated contract market or swap execution facility” by processing derivatives transactions without being registered. Today…

Binance Bitcoin Trading Volume Hits Lowest Level in 8 Months Following Termination of Zero-Fee Trading

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First Republic (FRC) Shares Jump 15% as Regional Bank Stock Rebounds

Since the collapse of Silicon Valley Bank, several industry stakeholders have been doing all they can to help cushion the pangs in the firm to help prevent it from collapsing. Regional banks in the United States might have recorded their worst month ever this March, the surviving ones, including First Republic Bank (NYSE: FRC). At the time of writing, the shares of First Republic have jumped by 15.72% to $14.28 in a move that appears as though it wants to start paring off the losses it has accrued from that…

‘sell the news’ moment nears after crypto-leading 20% weekly gain

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XRP (XRP) price is currently outperforming all other major cryptocurrencies as of March 27, rising over 20% in the past seven days. XRP/USD daily price chart. Source: TradingView XRP accumulation ahead of SEC vs. Ripple ruling XRP has seen steady gains over the past seven days as the ongoing legal quandary between Ripple and the U.S. Securities and Exchange Commission (SEC) is expected to conclude by the end of March. Meanwhile, the supply of XRP held by addresses with a balance between 10 million and 100 million tokens has risen by…

Polygon zkEVM Beta Launches on Mainnet, Buterin to Initiate Inaugural Transaction

According to reports, the Polygon zkEVM Mainnet Beta offers lower gas fees and could see wider adoption of Ethereum scaling technology.  The Polygon zkEVM Mainnet Beta went live on Monday, March 27th, facilitating the deployment of smart contracts with increased finality and reduced costs. The release of the zero-knowledge Ethereum Virtual Machine beta to the public comes days after rival Matter Labs released its own zkEVM. One of the main attractions of the Polygon zkEVM Mainnet Beta is its lower gas fees for decentralized app (dApp) users. These reduced costs could spur…