Month: July 2023

Crypto Exchange Binance Slashes Worker Benefits as Profit Falls: WSJ

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Changpeng “CZ” Zhao, Binance’s CEO, however, told workers in a company meeting on Friday that Binance was still profitable and had not been impacted by the recent lawsuit against it by the U.S. Securities and Exchange Commission, according to attendees at the meeting that spoke to the Journal. He did say, though, that there could be additional layoffs every three to six months and that he did not know if and when the worker benefits that had been cut would be coming back. Source

Euro stablecoin market set to take off, thanks to real-world uses, regulatory clarity: Circle exec

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The future is bright for euro-denominated stablecoins, according to Patrick Hansen, European Union strategy and policy director at Circle. The United States dollar may preserve its “first mover” advantage, but euro stablecoin will see increasing real world use cases emerge to lift it above its current meager market share, Hansen said at EthCC in Paris. Euro-denominated tokens currently represent 0.3% of the stablecoin market and are worth $300 million. At the same time, the euro occupies 20% of the traditional monetary system. It is in second place to the U.S. dollar…

Bitcoin ‘full breakout’ not here yet as BTC price spends month at $30K

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Bitcoin (BTC) refused to give up $30,000 at the July 17 Wall Street open as observers placed bets on a step lower next. BTC/USD 1-hour chart. Source: TradingView Bitcoin traders line up downside targets Data from Cointelegraph Markets Pro and TradingView followed what one analyst called boring BTC price action into the new trading week. After an equally quiet weekend, BTC/USD showed no signs of volatility amid a lack of catalysts for change across risk assets. Twenty-six days within this range for #Bitcoin. Boring. pic.twitter.com/JghJp1dCCQ — Michaël van de Poppe…

Bitcoin ‘full breakout’ not here yet as BTC price spends month at $30K

Bitcoin (BTC) refused to give up $30,000 at the July 17 Wall Street open as observers placed bets on a step lower next. BTC/USD 1-hour chart. Source: TradingView Bitcoin traders line up downside targets Data from Cointelegraph Markets Pro and TradingView followed what one analyst called “boring” BTC price action into the new trading week. After an equally quiet weekend, BTC/USD showed no signs of volatility amid a lack of catalysts for change across risk assets. Twenty-six days within this range for #Bitcoin. Boring. pic.twitter.com/JghJp1dCCQ — Michaël van de Poppe…

Elon Musk’s new AI startup is as ambitious as it is doomed

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Almost nothing is known about Elon Musk’s latest endeavor, an artificial intelligence startup named xAI. But “almost nothing” is still something. And we can glean a lot from what little we do know. As Cointelegraph recently reported, Musk announced xAI on July 12 in a statement comprising three sentences, “Today we announce the formation of xAI. The goal of xAI is to understand the true nature of the universe. You can meet the team and ask us questions during a Twitter Spaces chat on Friday, July 14th.” Based on this information…

Ripple CLO says court ruling could encourage banks to adopt XRP: Report

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Stu Alderoty, the chief legal officer for Ripple Labs, has reportedly said United States-based banks may turn to XRP for cross-border transactions following a recent court ruling. According to a July 17 CNBC report, Alderoty expressed confidence that U.S. banks and financial institutions could begin exploring XRP for use in cross-border payments. The Ripple CLO reportedly made the statement less than 24 hours after a federal judge in the firm’s case against the U.S. Securities and Exchange Commission (SEC) ruled the XRP token was not necessarily a security. “I think…

How to earn passive income with peer-to-peer lending

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What is peer-to-peer (P2P) lending? Peer-to-peer (P2P) lending, also referred to as marketplace lending, is a type of lending that uses online platforms to link lenders and borrowers directly, eliminating the use of conventional financial intermediaries, such as banks. In P2P lending, individuals or businesses seeking loans can request funding by creating loan listings on a P2P platform. Individual investors or institutional lenders, on the other hand, can analyze these listings and decide to fund them based on their level of risk tolerance and expected rate of return. P2P lending…