While crypto propounders hail bitcoin as a safe haven asset, the empirical evidence suggests otherwise, with the top cryptocurrency chalking out major rallies during sustained weakness in the U.S. dollar. The dollar, meanwhile, remains a hedge against systematic uncertainty, acting as a haven during times of stress in both crypto and wider markets. Source
While the cryptocurrency community is actively discussing the upcoming Bitcoin (BTC) halving in 2024, there is potentially another big market event happening this year. The trustee of the hacked Bitcoin exchange Mt. Gox is set to finally repay the exchange’s creditors by the end of October 2023. If that happens, the cryptocurrency market could be significantly affected in several ways, some industry observers agree. Founded in 2010, Mt. Gox was once the biggest Bitcoin exchange in the world, estimated to facilitate around 70% of all BTC transactions before its implosion.…
As the cryptocurrency market continues to mature, the importance of market makers in maintaining liquidity and stability has grown respectively. Similar to the worldwide trend of increased regulation, market makers are acquiring prominence in the evolving cryptocurrency landscape. By partnering with exchanges, such as Binance, Coinbase, KuCoin and others, market makers try to reduce spreads in highly liquid markets, benefiting both retail and institutional participants. Cointelegraph Research has compiled a database of about 50 crypto market makers operating worldwide, with detailed information on their activities and focus. Why are market…
Aave is a lending and borrowing platform that allows users to earn yields on their pledged tokens. The gho token can be minted by users against a diversified set of crypto assets. GHO holders will continue to earn interest on the supplied collateral, just as in other lending transactions on Aave, which means ghost in Finnish. Source
Algofi, the largest decentralized finance protocol on layer-1 blockchain Algorand, said it will shut down and plans to halt lending, borrowing and trading imminently. Source
The relaxation will in the first instance operate for a period of up to five years, and would apply as a minimum to digital equities, bonds and money market instruments – but not to derivatives, or to unbacked crypto, such as bitcoin (BTC) and ether (ETH), as officials point to an evolving regulatory framework. Original
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin (BTC) metrics signal mixed sentiments amid the recent spike to $31,000. Notably, while the number of new addresses on the bitcoin network recently surged to a three-month high, a drop in fees to a four-month low might suggest decreasing network activity. On-chain data provider Glassnode revealed these metrics in two separate disclosures. According to the blockchain data resource, the number of new addresses on the bitcoin network recently skyrocketed to 20,360. The last time the…
Tax management is an essential component that can have a big impact on your overall savings and investment results. The implementation of efficient tax planning tactics is crucial, regardless of whether you are involved in conventional financial markets or are looking at prospects in the cryptocurrency field. This article will discuss important factors for maximizing tax savings in both the traditional financial markets and the cryptocurrency space. Understand tax laws and regulations Understanding the tax laws and regulations that apply to your investments is the first step in efficient tax…
BitOasis said it’s working closely with the Virtual Assets Regulatory Authority to fulfil the conditions. Source
The Chinese government is considering additional regulations on artificial intelligence (AI) development that emphasize content control and licensing. According to a July 11 report from the Financial Times, the Cyberspace Administration of China (CAC) wants to impose a system requiring local companies to obtain a license before releasing generative AI systems. This move signals a tightening of initial draft regulations released in April, which gave companies 10 working days after the product launch to register it with authorities. The new licensing scheme is expected to be included as a part of…