Day: July 1, 2023

Redditor up 25% after boldly taking out $59K worth of personal loans to buy BTC

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A Redditor and member of the r/CryptoCurrency community is claiming to be up 25% or $19,500, after taking out three personal loans worth a combined $59,000 to buy Bitcoin (BTC) over the past 18 months. According to the Redditor, whose account is crudely named “Vaginosis-Psychosis,” they now have a total of 2.65 BTC, which is worth $80,400 at current prices, and are betting big on the price of BTC hitting $100,000 by early 2025. In a June 30 post on r/CryptoCurrency, the user gave a run down on how they…

Singapore to broaden blockchain pilot project

The Monetary Authority of Singapore (MAS) has recently announced its plans to expand its blockchain experiment. The regulator revealed that it would soon add three asset classes to its ongoing industry pilot effort. This development was announced on June 26 as an extension of MAS’s existing Project Guardian program, which aims to explore and expand the applications of blockchain technology within the financial markets. It will encompass asset and wealth management, fixed income, and foreign currency. Project Guardian, scheduled for release in May 2022, will test the feasibility and effectiveness…

Institutional investors’ long-term outlook on crypto is confident, Binance Research shows

A recent survey conducted by Binance Research and Binance VIP & Institutional provides insights into the thoughts and preferences of institutional investors in the cryptocurrency market. The Institutional Crypto Outlook Survey gathered responses from 208 Binance institutional clients and VIP users, offering information about their attitudes, preferences, adoption, and motivations regarding cryptocurrency investments. The survey reveals that 63.5% of respondents are optimistic about the crypto market in the next 12 months. Additionally, 88.0% have a positive outlook for the next decade, indicating their long-term confidence in crypto. Regarding portfolio allocation,…

Mastercard unveils multi-token network – CryptoX

Global payments processor Mastercard has launched its Multi-Token Network (MTN) platform, a solution to foster interoperability within the blockchain ecosystem. Raj Dhamodharan, the head of crypto and blockchain at Mastercard, expressed the company’s vision for MTN as a foundational framework that ensures the security, scalability, and interoperability of transactions within the digital asset and blockchain ecosystems. While the announcement does not specify which cryptocurrencies will be supported, it does indicate that Mastercard is collaborating with select partners to enable transfers on public blockchains. Interestingly, the initial applications of MTN are…

Investors still waiting on $1.9M refund Logan Paul promised six months ago: CoffeeZilla

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Investors in Logan Paul’s troubled NFT gaming project CryptoZoo are reportedly still waiting for any specific details on the 1000 Ether (ETH) refund (worth $1.93 million at current prices) that was promised back in January. In a YouTube video posted on June 30, “internet detective” Coffezilla — the person who initially brought the project’s issues to light in December 2022 — asserted that Paul’s communication with the CryptoZoo community has dried up over recent months: “It’s been six months, so here’s a follow-up. Logan Paul has not paid back his…

SEC’s rebuttal to Coinbase’s legal defense set for July 13th

According to a recent court order issued on Thursday, June 29, the United States Securities and Exchange Commission (SEC) is scheduled to deliver its response to Coinbase’s initial legal defense on July 13. The SEC has also filed a request with the court, seeking a three-business-day extension, as mentioned in a legal document filing. Taking a stronger position Coinbase’s legal counsel argued in a recent court letter that the company has presented various defenses in response to the SEC’s complaint, including claims of due process violation and abuse of discretion.…