Day: June 12, 2023

Blockstream CEO Adam Back responds to US crypto pressure

Amid the mounting regulatory pressures on cryptocurrency exchanges, Blockstream CEO Adam Back highlights the inherent resilience and adaptability of the crypto industry, insisting that it will continually find ways to navigate and thrive despite these challenges. Adam Back, the CEO of Blockstream, shared some insights on the resilience of the cryptocurrency industry during the recent BTC Prague conference. He painted an optimistic picture of the sector’s ability to adapt to changing regulatory landscapes. Antifragility in cryptocurrency sector “Antifragility is the norm here,” Back said to Decrypt. He explains that when…

Investing in Cryptocurrencies and Embracing Innovation

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The digital age has opened the door for countless new opportunities, such as investing in cryptocurrencies. Cryptocurrencies have been touted as a revolutionary way to conduct transactions and store value, offering potential financial freedom and significant growth potential. Although they are still relatively unknown, understanding and embracing this innovative technology can be extremely rewarding financially and technologically. In this article, we will look at what cryptocurrencies are, how they work, their associated risks, and why now is the best time for investors who want to explore this exciting asset class.…

Binance.US hires former SEC enforcement official amid lawsuit: Report

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United States-based crypto exchange Binance.US has reportedly hired a former enforcement official from the Securities and Exchange Commission (SEC) as part of the legal team to defend itself against allegations of operating as an unregistered securities exchange. According to a June 12 report from Bloomberg, Binance.US has hired former SEC enforcement co-director George Canellos with the international law firm Milbank LLP along with three other lawyers. Canellos left the SEC in 2014 after serving for more than 4 years in different leadership positions. “Binance is clearly preparing for a criminal…

Polygon 2.0 introduces upgrades to tap into ‘Value Layer’ of internet

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On June 12, Polygon Labs announced “Polygon 2.0,” a set of upgrades that seeks to establish the “Value Layer” of the internet, which the company says will allow users “to create, exchange, and program value.” 1/ Our vision for Polygon is simple: to build the Value Layer of the Internet. The Internet allows anyone to create and exchange information. The Value Layer allows anyone to create, exchange, and program value. Enter Polygon 2.0: a blueprint to build the ultimate Value Layer. pic.twitter.com/9eYSr3H1L5 — Polygon (Labs) (@0xPolygonLabs) June 12, 2023 According…

Ripple expands Canadian engineering activities with U of Toronto XRP validator

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The University of Toronto plans to launch an independent XRP Ledger validator, Ripple announced June 12 as the university will become part of Ripple’s University Blockchain Research Initiative (UBRI). The partnership will support blockchain and crypto technology research at the university. The partnership will also advance Ripple’s XRPL (XRP Ledger) Campus Ambassadors program that “aims to elevate the impact of college students […] [To] help educate other students about crypto and how to start building on the XRPL.” University of Toronto Professor Andreas Veneris commented: “Hosting an XRP Ledger validator…

SEC’s Temporary Restraining Order Would ‘Effectively End’ Binance.US Business, Company Claims

CryptoX – Cryptocurrency Analysis and News Portal In Monday’s filing, Binance.US‘s attorneys wrote that freezing its funds would “primarily harm BAM’s customers, effectively put BAM out of business, and prevent BAM from defending itself in this litigation,” as it could no longer pay its employees, vendors or other parties or even maintain its technology. Source The post SEC’s Temporary Restraining Order Would ‘Effectively End’ Binance.US Business, Company Claims appeared first on CryptoX. CryptoX Portal

Bitcoin on-chain data shows miners offloading BTC as revenues shrink

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Bitcoin’s on-chain data provides evidence that Bitcoin miners are offloading their holdings. The factors influencing the selling pressure could be reduced earnings from a cooldown in Ordinals activity as well as mining difficulty and hash rate reaching an all-time high.  According to on-chain analytics firm Glassnode, “Miners have been sending a significant amount of coins to exchanges.” Glassnode data shows Bitcoin (BTC) miners’ inflows to exchanges spiked to a three-year high on June 3 to levels last seen during the bull market of early 2021. Across the past week, #Bitcoin Miners have…

BLUR Underperforms CoinDesk Market Index Ahead of $62M Token Unlock

The token unlock, which will take place on Wednesday, will release almost 196 million tokens, representing nearly 40% of the currently circulating supply, according to data from CoinGecko and Token Unlocks. When this $62 million of tokens are released, owners of BLUR will get greater autonomy over their holdings, gaining the ability to sell or swap. Source