Day: July 10, 2023

From Thailand to South Africa, regulators tighten their grip on crypto: Law Decoded, July 3–10

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Last week saw more rules and regulations emerge regarding digital assets. Thailand’s Securities and Exchange Commission issued new rules requiring digital asset service providers to warn customers of risks associated with cryptocurrency trading. The warning message must be clearly visible, and before customers can use the service, the business operator must arrange for the users to give consent and acknowledge the risks. Apart from a trading risks disclaimer, the new guidelines prohibit service providers from using customers’ funds for lending or investment. The Monetary Authority of Singapore announced new requirements…

bitdao and huobi token remain bearish

The crypto world is constantly changing, with prices and trends shifting quickly. This article delves into the recent performance of bitdao (BIT), huobi token (HT) facing bears, and provides predictions for the price of tradecurve in July. It also covers the latest updates on these digital assets and offers a glimpse into what the future may hold. BitDAO under pressure BitDAO, a decentralized autonomous organization (DAO) focused on driving the growth of the decentralized finance (DeFi) ecosystem, has been having a rough time, and its token is selling off. Following last week’s…

Connext founder proposes ‘Sovereign Bridged Token’ standard after Multichain incident

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An Ethereum Improvement Proposal (EIP) made on July 7 seeks to standardize how tokens are bridged between networks. The “Sovereign Bridged Token” standard, or EIP-7281, allows token issuers to create canonical bridges across multiple networks. The proposal was co-authored by Arjun Bhuptani, founder of the Connext bridging protocol. In a July 7 social media post, Bhuptani claimed the protocol would help prevent issues like the July 6 Multichain incident, which some experts have described as a hack. Today’s @MultichainOrg hack is a sad reminder of the systemic risks tokens face from…

Parliamentary report recommends Canada recognize, strategize blockchain industry

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A Canadian House of Commons committee report has recommended that the country “recognize blockchain as an emerging industry,” and take all the steps that entails. There are a lot of steps needed, it said. The report was released by the Canadian House of Commons Standing Committee on Industry and Technology after a study that involved five meetings and numerous witnesses and briefs. The report outlined uses of blockchain that included cryptocurrency, supply chain and public sector uses and non-crypto financial innovations. “Canada punches above its weight,” in blockchain innovation and…

A no-fail trade? Bitcoin traders who dollar-cost average are profitable

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The weighted average cost of purchased Bitcoin recently reached a level signifying that all investors who have consistently dollar-cost averaged into the leading cryptocurrency are now in the black, regardless of how long they have been holding. Just a reminder that every single pleb who has been dollar cost averaging #bitcoin is now in profit no matter when they first started DCA’ing. Every single one of them! pic.twitter.com/pnuIqdQznM — Wicked (@w_s_bitcoin) July 3, 2023 This news comes despite the price of Bitcoin, as measured in U.S. dollars, still being down by over…

Social media discussions play a crucial role in influencing crypto returns: Study

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Researchers at Pennsylvania State University recently analyzed whether attitudes and emotionality surrounding cryptocurrency could help predict returns. What they found may stand in stark contrast to related financial markets. According to the team’s research paper, social media plays an outsized role in adoption and activity rates, while cryptocurrency journalism isn’t a great predictor of market movement: “Our findings indicate that social media sentiment significantly predicts crypto returns, while sentiment from news media does not.” The researchers used natural language processing to analyze millions of financial news articles and social media comments…

How to use third-party ChatGPT plugins

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After its release on Nov. 30, 2022, the OpenAI-created ChatGPT, an artificial intelligence (AI) language processing tool, captivated the world. Its mind-bending ability to generate content, effortlessly mimicking human language intricacies, enthralled users worldwide and was one of the main reasons behind its rapid rise in popularity. Trained on a vast corpus of data spanning an expansive array of literary works and online sources, ChatGPT ushered in an era where AI impacts communication, computations, transcriptions, translations and more. While ChatGPT’s standard capabilities are already being utilized in a wide range…

Crypto investigator ZachXBT alleges YouTube influencer Blue stole $1.5m through scams

Cryptocurrency detective ZachXBT detailed alleged cryptocurrency fraud activities conducted by a popular YouTube personality, known as Blue or Jack, potentially amounting to over $1.5 million in stolen funds. Cryptocurrency investigator ZachXBT has published evidence alleging a YouTube influencer named Blue, also referred to as Jack, was involved in numerous crypto heists amounting to a staggering $1.5 million. Initially known for his gaming and prank videos, Blue amassed a following of over 122,000 subscribers on YouTube, before allegedly becoming embroiled in cryptocurrency scams in 2021, as detailed by Zach on Twitter.…