Day: July 22, 2023

The Dark Side Of Blockchain: ISIS And Supporters Use Crypto For Fundraising?

Over the past few years, there have been rising concerns about the use of cryptocurrencies for illegal activities. Although the majority of these are overestimated, there is no denying that there are some bad actors trying to take advantage of the technology’s decentralized nature. TRM Labs, a blockchain intelligence firm, recently published a report on the increasing use of crypto assets by terror organizations. ISIS Allies Used Crypto To Raise Funds: TRM Labs TRM Labs has unveiled its findings regarding cryptocurrency fundraising by ISIS and its supporters across Asia. In…

Binance France audited, holds €1 billion in crypto

Binance France has unveiled its first-ever audited financial statements, following its ability to secure registered status in the country. A recap of the report In adherence to local regulatory and legal mandates, Binance France commits to publishing these audited financial statements annually. The financial statements covering 14 months, beginning with the company’s inception on Nov. 8, 2021, and ending with the financial year ending on Dec. 31, 2022.  The report goes on to share that Binance France holds approximately €1 billion in crypto assets on behalf of its users, specifically catering to…

Bitcoin is a distinct asset class, diverges with gold

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A finding by analyst James V. Straten and shared on Reddit on July 21 determined that Bitcoin is a distinct asset class and does not exhibit significant correlations with equities and most traditional trading instruments. However, it is highly correlated with Ethereum and diverges with gold. Data shows that S&P 500 and gold diverge with Bitcoin with a correlation of -0.05 and -0.12, respectively. Meanwhile, the greenback and Nasdaq slightly moved in sync with the king of crypto…

Borroe aims to shape how web3 businesses monetize services

The decentralized web aims to provide value to creators. Various activities, such as social media engagement, video creation, blogging, gaming achievements, and fitness tracking, have been monetized as the web3 space grows. However, despite the potential and value of web3 businesses, the traditional financing industry has struggled to offer viable solutions to support these ventures adequately. In this context, Borroe is a platform that aims to address this financing gap by funding web3 businesses. It seeks to provide its clients with the financial resources they need to continue developing and…

Analysts bullish on crypto AI project, say it may outperform Chainlink and Monero 

InQubeta is a crypto crowdfunding platform that seeks to transform the artificial intelligence (AI) and cryptocurrency investment sectors. The platform’s strategy involves fractional investment in AI startups using its QUBE token to facilitate connections between investors and emerging projects. It also employs non-fungible tokens (NFTs) and uses a deflationary token model. Some experts speculate that InQubeta could outperform Chainlink and Monero due to its ambition to redefine the AI and crypto investment landscape, making it more accessible to a broader audience. InQubeta: bridging AI and crypto investments InQubeta utilizes NFTs and QUBE.…

What is the difference between DApps and protocols?

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In recent years, the rise of blockchain technology has paved the way for groundbreaking innovations in the realm of decentralized systems. Among the revolutionary concepts are decentralized applications (DApps) and protocols. While both are integral components of the decentralized ecosystem, they serve distinct purposes and play different roles. This article explores the contrasting characteristics of DApps and protocols, shedding light on their respective functionalities and importance in the world of decentralized technologies. Understanding DApps Software programs that run on a decentralized network of computers rather than a centralized server are…

Bitcoin halving in 2024 may not spark bull run, analyst claims

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The next Bitcoin halving is scheduled for early Q2 2024. This event will reduce miner rewards by 50%, from 6.25 BTC to 3.125 BTC, a supply shock that makes the coin scarcer. Even though historical price performance tends to support prices, one observer thinks that in the months after this event, Bitcoin prices will remain muted. As price action data shows, past halvings have significantly impacted the price of Bitcoin. A 9,100% surge followed the first halving in…

US SEC faults judge, hints at appealing Ripple ruling

The U.S. Securities and Exchange Commission (SEC) has hinted at the possibility of appealing the July 13 ruling in its lawsuit against Ripple Labs. According to the SEC, the ruling goes against existing securities laws and principles, notably the Howey Test, which determines whether an investment contract classification is appropriate. The regulator also confirmed that it was “considering various avenues for further review,” suggesting it would not quickly give up on the case. BREAKING: “SEC Says XRP Ruling Was Wrong, Signals It Will Appeal” Two things: 1. This magnifies how corruptly stubborn of an…

OpenSea introduces Deals, monthly trading volumes slump 96% from January 2022

Reports on July 21 reveal that OpenSea, a non-fungible token (NFT) marketplace, has introduced a new feature called Deals, allowing users to trade NFTs for other NFTs or Ethereum (ETH).  Powered by Seaport, an NFT protocol, OpenSea said Deals offer users a more flexible and secure way to trade NFTs directly on the platform. The introduction of Deals comes as NFT trading volumes have seen a significant decline in recent months. Factors such as the overall bearish trend in the cryptocurrency market and increased competition from other NFT marketplaces have…

Bitfinex hackers may plead guilty, prosecutors to recover $3 billion

A recent update in the federal court docket suggests that Ilya Lichtenstein and Heather Rhiannon Morgan, a New York couple, may plead guilty in the case against them for allegedly attempting to launder $4.5 billion in Bitcoin stolen during the 2016 Bitfinex hack. Their names appeared in a document typically used by federal prosecutors when defendants reach a plea agreement, indicating that the charges against them may soon be resolved. Bitfinex hack update: stolen Bitcoin now worth over $4.5 billion  Court records reveal that Ilya Lichtenstein and aspiring rapper Heather Rhiannon Morgan…