Moving average crossovers are lagging Indicators. That said, the latest death cross is consistent with the dour regulatory outlook. Source
Cardano's ADA Paints 'Death Cross' Amid Regulatory Uncertainty
Day: June 20, 2023
Bitcoin (BTC) Dominance Surges Past 50% amid Crackdown on Altcoins
The market capitalization of the flagship cryptocurrency recently hit levels greater than that of all other cryptocurrencies combined. Bitcoin (BTC) has had some difficult runs recently, but maybe its market dominance was never in doubt. This follows after the market capitalization of the flagship cryptocurrency recently hit levels greater than that of all other cryptocurrencies combined. According to TradingView data, Bitcoin dominance surpassed 50% on Monday, in what was its first attempt in over 2 years. Since the BTC price headed for the rocks following China’s ban in May 2021,…
Singapore Ride-Hailing Giant Grab Plans First Massive Layoffs since Pandemic
Despite expressing positive revenue projections for 2023 and accelerating its profitability timeline in February, Grab is now planning a fresh round of layoffs. Grab Holdings, a Singapore-based ride-hailing and food delivery company, is gearing up for its largest round of layoffs since the pandemic, according to a report by Bloomberg on Tuesday. Sources familiar with the matter stated that the company would officially announce the planned job cuts this week, which is expected to surpass the previous 5% reduction in 2020, affecting up to 360 employees. At the time, Grab…
Australian Payment Provider Cuscal Imposes New Restrictions on Crypto; Blockchain Australia Criticizes Move
“Our banking partner, Cuscal has updated its Merchant guidelines which contain new requirements for all digital currency exchanges that are supported by Cuscal,” the “survey” reads. “If you do not currently comply with the new requirements, we are happy to consider a reasonable time frame for implementation. Please note, if you are unable to comply with the requirements, Zepto and Cuscal will not be able to continue to support you.” Source link
Era of trading crypto as non-securities is over, says exchange exec
Amid lawsuits against United States-based exchanges like Coinbase and Binance.US, an executive at a domestic digital asset firm has noted the legal implications of these recent enforcement actions for the industry. The era of trading cryptocurrencies as non-securities is coming to an end, according to Itai Avneri, chief operating officer at the blockchain trading firm INX. Avneri believes that a massive amount of coins offered for trading on crypto exchanges is among the core reasons for legal issues. “You cannot continue to trade cryptocurrencies as if they are not securities.…
Crypto enthusiast Tsai to steer Alibaba
Alibaba’s leadership reshuffle puts Joseph Tsai, a known crypto enthusiast, in the chairman’s seat, suggesting possible future crypto initiatives. However, given China’s cautious stance on cryptocurrencies, how this change will play out remains to be seen. On June 20, Alibaba revealed that one of its co-founders, Joseph Tsai, is set to become Chairman in September 2023. As a vocal supporter of cryptocurrency and an active web3 investor, Tsai’s elevation offers a new narrative for crypto enthusiasts. Tsai’s fascination with the world of blockchain and crypto is no secret. It all…
The layer-1 of a successful Web3 marketing strategy
Building on a blockchain follows similar fundamental principles to building in real life. First, you establish the foundations, then you can start laying the bricks, and only once it’s built can someone begin experiencing the building’s purpose. With blockchain, establishing a foundation involves selecting (or even designing) a first layer. Laying the bricks is akin to writing the platform code, and only then the user experience can begin. So why, if we know the process involved in building a successful, sustainable structure from scratch, do we ignore it when it…
Arbol Unveils AI and Blockchain-Powered Climate Insurance Platform dRe
The platform, dubbed dRe, is specifically designed for reinsurance, meaning insurance for insurance companies, and is currently focused towards severe storm catastrophes. “Leveraging validated weather data from leading decentralized climate data network, dClimate, and Chainlink’s industry-standard decentralized oracle network, the platform triggers a smart contract based on wind speed and location for specific peril events,” the startup said in a statement sent to CoinDesk. Source
Investing in Web3 is a ‘hedge against disruption’ — VC exec
The crypto space has been facing waves of uncertainty in recent months, with looming regulations from authorities worldwide and a lingering market downturn. Despite the state of the industry, investors are still backing new ventures in the space. Data shows that in 2022 alone, European decentralized finance startups experienced increased venture capital (VC) funding of almost 120%. Cointelegraph spoke with Martin El-Khouri, a senior director at Bertelsmann Investments, during the Proof of Talk blockchain conference in Paris about why major investment firms still see Web3 as a way forward. Proof of Talk…
European Investment Bank taps blockchain for Climate Awareness Bond
The European Investment Bank (EIB) has issued a blockchain-based digitial bond powered by environmentally-incentivized node infrastructure. An announcement from the financial institution outlined the key points of a ‘digital native green bond’ denominated in Swedish krona. The 1 billion kr bond is set to offer a 3.638% fixed rate over two years to institutional investors. The Climate Awareness Bond is also being touted as the first blockchain-based bond to be registered on the Luxembourg Stock Exchange Securities Official List and displayed on the Luxembourg Green Exchange. The bond will operate…