The ability to trade bilateral options tied to cryptocurrencies with Galaxy removes credit risk, which is normally associated with traditional OTC options trades, Galaxy said in a statement. This is because users send their collateral to a smart contract rather than to a counterparty, making the user less exposed to the counterparty and what they might be doing with one’s collateral. Source
As Bitcoin network fees increase and congestion builds, the rise of BRC-20 tokens and Ordinals NFTs has sparked a debate within the crypto community: should Bitcoin limit or even ban these new technologies? The direction this discussion takes could significantly impact the future of Bitcoin. On March 9, 2023, Domo, an anonymous on-chain analyst, announced on Twitter a theoretical concept of BRC-20, ERC-20-like tokens on the Ordinals protocol. Things remained cool until early April when the number of Ordinals inscriptions skyrocketed, and Bitcoin network fees began surging exponentially. In May,…
The integration of TradingView will give Binance users access to a wide range of tools while exposing Binance products to traditional investors. The Binance Spot market trading platform has been integrated with TradingView, a leading charting platform that offers traders a greater insight into the markets. The news broke via a press release seen on Thursday, May 18. Providing Greater Insight into the Market via Tools and Data With the integration, users of Binance will have access to a wide range of tools featured on TradingView, enabling them to approach…
Bitcoin (BTC) has crossed a significant threshold this month — and while it does not involve price, it does involve “millions.” Data from on-chain analytics firm Glassnode confirms that as of May 18, there are over one million addresses which hold at least 1 BTC. Back: Adoption trend lays path to “hyperbitcoinization” It was a long time coming and received much attention on social media, and the time is finally here — there are one million entities which own a whole bitcoin. These “wholecoiners” have been steadily accruing since mid-2021,…
For more than an hour, members peppered the lawyer, who identified himself as Dali from the tech law firm Sparring, with questions about HIP 40, a proposal to wrap Hector Network within an offshore corporate structure that includes directors, supervisors and a management board. In other words: an organization with many of the centralized facets DAOs are supposed to replace. Source
Legal chatbots gather information from users, process that data, find applicable legal information and give the user advice or refer them to a qualified lawyer if necessary. Here are the general steps of how legal chatbots function: Information gathering The chatbot gathers data from the user via queries or prompts, which may include the nature of the legal issue, the location and any other relevant information. When a user first accesses the chatbot, a message asking about the nature of their legal problem is displayed to them. Suppose the user…
Traditional finance custodians such as Northern Trust and BNY Mellon have been wary of entering the crypto market due to the regulatory and market risks, but Architect Partners expects that to change in the future, which would represent “both a threat and an opportunity for those building specialized digital and crypto asset custody businesses.” The crypto winter has also put pressure on custodians and has slowed or stalled growth of assets under custody, leading to flat or declining revenues and recruiting financial staying power and conviction that an upturn is…
Sara Gherghelas, a blockchain analyst at DappRadar, told CoinDesk that the number of NFT sales appears to be on track to reach or surpass last month’s numbers, as opposed to trading volume, which is significantly lagging behind last month’s count. In her view, this could signal that there are more NFT traders in the market making smaller dollar-figure trades. Source
Cryptocurrency exchange FTX has taken legal action against its former CEO Sam Bankman-Fried, co-founder Zixiao Wang, and former senior executive Nishad Singh. The lawsuit stems from the controversial $220 million acquisition of stock-clearing platform Embed, with FTX lawyers claiming a lack of due diligence in the transaction. In a filing on May 17, FTX alleged that it had acquired Embed through its United States subsidiary without conducting thorough due diligence. Following FTX’s bankruptcy filing, the court approved the sale of Embed and other FTX assets, but the highest bid for…
On May 10, the United States House of Representatives Financial Services Committee and Agriculture Committee held their first joint hearing on digital asset regulation. The event felt like a logical continuation of another recent hearing where representatives lambasted Securities Exchange Commission Chair Gary Gensler for perceived regulatory overreach. The principal narrative, articulated by the hearing’s initiators, was that Congress should intervene with its own regulatory project to provide certainty, stop “regulation through enforcement” and address the competition between regulating agencies. But maybe it actually shouldn’t, believe many lawyers as well.…