Day: July 18, 2023

Coinbase CEO Brian Armstrong set to speak to House Democrats privately

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Coinbase CEO Brian Armstrong will meet with a bipartisan group of US House of Representatives on July 19 to discuss proposed new laws about digital assets.  The US Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase and Binance, alleging that they failed to carry out registration. According to Bloomberg, Armstrong plans to discuss taxation, national security, privacy issues, and climate change against this background. The New Democrat Coalition representative said in an email…

Bitcoin price falls to $29.5K, but on-chain data reflects investors’ growing interest

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Bitcoin (BTC) price dropped below the $30,000 level on July 18, which given the developments of the last month, retail investors may not have expected, but does today’s downside move represent an upcoming shift in the trend?  Data suggests that over the longer-term it does not. To get to the positives first, Bitcoin price is still attempting to flip the $30,000 level to support after about 10 attempts since April of this year, but price is continuously finding buyers in the $28,000 to $25,000 range which buyers seem to be…

Nevada court approves regulator’s petition to place Prime Trust into receivership, pending hearing

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The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing to show cause.  In a July 14 filing, the Nevada court ordered the appointment of a receiver for Prime Trust following a June 26 petition from the state financial regulator. Prime Trust will have an opportunity to show cause why the petition should not be permanently granted in an Aug. 22 hearing. “The court appointed receiver will take over the day-to-day operations…

Prime Trust Put Into Receivership Amid Shortfall in Funds, Charges It Used Customer Money to Buy Crypto

Crypto custodian Prime Trust has been ordered by the Eighth Judicial District Court of Nevada, where the company has its headquarters, to be put into receivership after the state ordered the company to cease all activities amid a shortfall in customer funds and accusations that it used customer funds to meet withdrawal requests. Source BuyChargesCryptocustomerFundsMoneyPrimeputreceivershipShortfallTrust CryptoX Portal

If DeFi Wants To Grow, it Has To Embrace Real-World Assets

DeFi is big in the crypto world. But, if we look at the overall financial industry, it remains a tiny, almost minuscule niche market, albeit one with potential. DeFi is still taking its first baby steps, but, if it’s to stand tall on its own two feet, it desperately needs a way to connect with the traditional financial ecosystem, where it can tap into real businesses and institutional investors. Source

The European Commission’s Web4 strategy is a flop

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On July 11, the European Commission formally adopted its new strategy on Web4 and virtual worlds with the aim of ensuring “an open, secure, trustworthy, fair and inclusive digital environment” for European Union citizens. The strategy is based on four main pillars, revolving around the empowerment of human resources, support of businesses, further development of public services, and shaping of global standards for “Web 4.0” — a freshly coined term that attempts to preempt the next technological wave. While it’s commendable that the European Commission is proactively strategizing for the…

Crypto survey finds 47% of investors expect Ether to ‘surpass’ Bitcoin

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Fidelity Digital Assets released a “Q2 2023 Signals Report” on July 18, which claimed that Ether’s outlook for the next 12 months and the long term is positive. Year-to-date, Ether (ETH) has gained 62%, but while the investment firm might be short-term bullish on Ether, that does not mean it believes that the month-long bullish channel will be sustained. While institutional investors like Fidelity Digital Assets may have a bullish longer-term vision for ETH’s price, let’s compare their analysis against network and market data to see if they’re on the money. Ether/USD…

Centralized exchanges will become gateways for DeFi — dYdX Foundation CEO

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The dYdX Foundation, an independent decentralized finance (DeFi) nonprofit founded to support the dYdX protocol, recently launched a public testnet for its latest version, v4. According to the foundation, this puts dYdX ahead of schedule for the impending launch of the v4 mainnet, something the foundation claims represents complete decentralization for dYdX. As Cointelegraph recently reported, the July 5 testnet launch represented the fourth of five milestones the dYdX Foundation laid out in a roadmap toward decentralization last year. In its current live version, dYdX is still considered partially centralized.…

What is a token maker, and how does it work?

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A token generator simplifies the tokenization process through automation while integrating custom tokenomics and ensuring privacy. Token generators streamline the process of token creation with automated drag-and-drop functions, eliminating the barriers to tokenization that cryptocurrency enthusiasts with little to no programming knowledge typically face. Tokens represent particular utilities or assets. Tokenization effectively converts something valuable into a digital token that blockchain-based applications can then effectively use. Depending on one’s desired utility, tokens can represent either tangible or intangible assets. Tangible assets are those with physical forms, such as real estate,…