Day: August 8, 2023

Worldcoin Launched Before a German Data Regulator Finished Assessing the Crypto Project

At the moment, the European data authorities are investigating Worldcoin’s data flows, the pseudonymization of personal data, such as the biometric iris scans, as well as the transparency and fairness around users’ consent, said Will. Worldcoin is expected to respond to the authorities’ latest information request by September, at which point the investigation might delve deeper into its specific technology. Source

Pro-XRP Lawyer John Deaton Says He Is Willing To Bet That Ripple Will Win SEC Appeal

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Popular XRP advocate and notable attorney John Deaton recently predicted a comfortable appeal victory by Ripple against the United States Securities and Exchange Commission (SEC). The Managing Partner of ‘The Deaton Law Firm’ says he is willing to bet big on the exchange emerging victorious on appeal. Founded Belief Or Mere Speculation? John Deaton’s willingness to bet on an uncertain court judgment follows a recent thread penned by digital asset enthusiast and Australian-based lawyer Bill Morgan. According to the thread, Judge Analisa Torres did not err in her summary judgment…

CPI report may show uptick in US inflation — How will Bitcoin price react?

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The S&P 500 index is currently trading only 6% below its all-time high, which was reached in December 2021. Traditionally, such a situation would be seen as a bullish sign for risk-on assets, including commodities and cryptocurrencies, but this time, it appears that investors have been using the stock market as a means of protection against the recent inflation surge, which peaked at over 4% between April 2021 and May 2023. For Bitcoin (BTC) and cryptocurrency investors, inflation has typically been viewed as a positive factor influencing the price, as…

PayPal’s New Ethereum-Based Stablecoin and the ‘2 Wolves’ Inside Crypto

That restriction will likely lift in time, and PayPal may ultimately onboard more people into crypto than Coinbase (108 million at last count). And even if only a fraction of those customers ever interact with Web3 beyond PayPal this doesn’t have to cheapen crypto’s purity (which frankly has already been tainted). It’s not like the existence of PYUSD means bitcoin or ether or dai will disappear. And as Austin Campbell, who formerly managed the BUSD stablecoin reserves at Paxos, wrote: “A player like PayPal entering the field is material, for…

Binance Receives 2 Licenses to Become First Fully Licensed Crypto Exchange in El Salvador

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Binance has received two licenses in El Salvador — Bitcoin Services Provider (BSP) license from the Central Reserve Bank of El Salvador and the pioneering non-provisional Digital Assets Services Provider (DASP) license from the National Digital Assets Commission of El Salvador. Now it has become a “first fully licensed” cryptocurrency exchange to operate in this Central American nation, media reports said. These licenses grant Binance the authority to introduce customized products and services tailored to the preferences of the local people. While Binance had been previously serving in El Salvador,…

Bitcoin Funds Witness Largest Weekly Outflows Since March: Report

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The latest weekly report from CoinShares reveals that crypto investment products, particularly Bitcoin funds, saw major outflows for the third consecutive week. As investors continue to take profit, a total of $107 million in outflows was recorded in the previous week.  Crypto investment products listed in the report are from various exchange-traded product (ETP) providers, including 21Shares, Grayscale Investments, Bitwise, and Proshares. However, it was found that a significant portion of the outflows came from Purpose Investments and ETC Issuance.  From a regional standpoint, CoinShares discovered that the outflows were…

FTX’s Sam Bankman-Fried Will Still Face Campaign Finance-Related Charge, DOJ Says

“And as part of the originally charged money laundering scheme, the defendant also concealed the source of his fraudulent proceeds through political straw donations,” the DOJ said. “As the Government will outline in its forthcoming motions in limine [a pretrial motion], the evidence of the defendant’s campaign finance conduct is admissible at trial as direct proof of the Trial Charges.” Source

USDC issuer Circle launches MPC wallet beta for Ethereum, Polygon, Avalanche

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USD Coin (USDC) issuer Circle has released a beta version of a multi-party computation wallet (MPC) service, according to an Aug. 8 announcement. The new service will allow developers of DeFi apps, Web3 video games, e-commerce services, and other blockchain applications to create customized wallets specifically for their users. It will be available initially on Ethereum, Avalanche, and Polygon. Building crypto apps is still too hard. Plus, less than 0.5% of the 100 million developers worldwide are actively building crypto apps today. This needs to change. Our new wallet-as-a-service developer…

Is Curve DAO Price On Track To Reach Or Exceed $1 This Month?

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Curve DAO (CRV) encountered notable obstacles in reestablishing its market equilibrium subsequent to a recent breach in its network security. After a network intrusion that jeopardized a portion of Curve DAO’s (CRV) smart contracts and caused a monetary setback of $50 million, the value plummeted drastically. This occurrence prompted numerous investors to bet against their CRV tokens, exacerbating the downward pressure on its valuation. Based on a recent analysis of the price trends, the value of Curve DAO experienced a favorable support level close to the $0.56 threshold. On August…