Day: April 27, 2023

Arbitrum Co-Founder Addresses DAO Vote Fiasco, Waves off Allegations of ‘Decentralization Theater’

Although Offchain Labs is, formally speaking, distinct from the Arbitrum Foundation, it would seem reasonable to question if Labs – which built Arbitrum – might be pulling strings behind the scenes. If there was any take away from Goldeder’s address at Consensus, it was his acute awareness that this relationship between the two organizations – or lack thereof – remains top of mind for people trying to suss out whether Arbitrum is, in fact, decentralized. Source

Crypto Exchange Binance Has Ousted North Koreans, Senior Official Says

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“We kicked their ass enough that they’re actually able to recognize that Binance was not the place for them,” said Tigran Gambaryan, head of financial crime compliance at the largest crypto exchange by trading volume. “Binance has been fairly successful … whether it’s about how they circumvent controls or identifying the different entities or types of identification that they try to spoof.” Source

Ether price holds $1,820, but pro traders are skeptical about further gains

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The Ether (ETH) price has held above $1,820 for the past three weeks, despite facing a 13.7% correction between April 18-21. Still, analyzing a broader time frame provides a more constructive view, as ETH gained 20.8% in three months while the S&P 500 stock market index stood flat. However, according to ETH options and futures metrics, the gains were not enough to make professional investors bullish. Worsening macroeconomic conditions have driven cryptocurrencies’ positive momentum in 2023, including the ongoing banking crisis. According to Arthur Hayes, former CEO of crypto derivatives…

The Case for Regulating, Not Banning, Crypto

One bitcoin costs roughly $17,700, not $0, to mine, and there isn’t an unlimited supply, but instead a hard cap of 21 million tokens. Unlike with shares, no single company can increase the total number of bitcoin. Ethereum has a negative supply schedule, and so its native token, ether, decreases in supply. USDC is backed by dollars, one to one, held in regulated banks. All of these assets, which account for most of the volume in the crypto ecosystem, aren’t created at no cost and without limit, and so Allen’s…

SEC Is Alleging Legal Violations ‘On the Fly,’ Crypto Exchange Coinbase Says

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“An investment contract exists when you invest money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others. Intermediaries for investment contracts, whether they’re exchanges, brokers, dealers, clearinghouses, they need to comply with the securities laws and register with the Securities and Exchange Commission,” he said. “Instead, many crypto platforms are just pretending that these investment contracts that they offer are more like goldfish,” using an analogy about pets. Source

BCH Bull Launches Production Release, While Cashfusion Fuses Over $2 Billion in BCH – Bitcoin News

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As the Bitcoin Cash enthusiasts brace themselves for the much-awaited upgrade that vows to unleash decentralized applications, General Protocols revealed a complete production release of its decentralized hedging application, boasting a doubled contract size. Meanwhile, those utilizing the privacy-boosting protocol Cashfusion have fused over 17.4 million bitcoin cash since its inception, equivalent to a staggering $2 billion in U.S. dollar value. General Protocols Reveals Latest Defi Application Release The Bitcoin Cash community eagerly awaits an upgrade that promises to revolutionize the creation of decentralized applications on May 15, 2023. Last…

ETH Staking Benchmark Introduced by CoinDesk Indices, CoinFund

“Our partnership with CoinFund creates such a foundational piece of infrastructure to crypto-asset markets,” Alan Campbell, president of CoinDesk Indices, said in the press release. “Drawing on our experience managing the longest-running and largest benchmarked crypto indices globally, we’re excited to launch CESR, a building block for crypto-based finance.” Source

Web3 Can Be ‘the Trust Layer’ to Counter Issues Raised by AI

“Let’s say if we move from phones to glasses, then everything in my earshot becomes ‘real estate,’ and that’s a pretty scary thought,” she said. She added, “That’s where I think that Web3 layer can help enable trust and know that I’m seeing something that is the right thing or the thing that belongs to someone specifically.” Source