Month: August 2023

CME Bitcoin trading volume surpasses Bybit, but is it impacting BTC price?

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The Chicago Mercantile Exchange (CME) introduced its Bitcoin (BTC) futures contract in December 2017. This was around the same time that BTC had reached an all-time high of $19,800, but by late 2018 the price had dropped to $3,100. Investors in cryptocurrencies quickly learned that CME derivative contracts allowed them to make bullish bets with leverage, but also enabled them to bet against the price, a practice known as shorting. Historically, the Securities and Exchange Commission (SEC) has rejected Bitcoin exchange-traded fund (ETF) proposals due to concerns about manipulation on…

X Holds Licenses Across Multiple US States for Payment Processing, Including Cryptocurrency

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X, the social media platform under the ownership of Elon Musk, formerly known as Twitter, has secured licenses for payment services from several U.S. states. Notably, the platform acquired a currency transmitter license in Rhode Island earlier this week. Media reports said these licenses grant X the ability to offer a broader spectrum of payment services. Musk has articulated his vision for X to evolve beyond its original role as a social media platform, aiming to become an encompassing “everything app.” The series of money transmitter licenses acquired since June from…

Worldcoin signs up over 9K users in Argentina in a single day despite criticism

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Human ID project Worldcoin signed up over 9,500 users in Argentina in a single day in August, setting a record for single-day sign-ups. To achieve this feat, facilitators onboarded participants at an average rate of less than nine seconds per person, according to an Aug. 31 announcement from the project. Argentina is one of the world’s leading countries for blockchain innovation & crypto adoption. That reputation was reinforced recently, as demand for World ID led to 9.5K Orb verifications in 24 hours—a new global record. https://t.co/DEMx1Yda2O — Worldcoin (@worldcoin) August…

Why Additional Losses Could Persist

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ApeCoin (APE) finds itself grappling with a tumultuous period as on-chain metrics present a mixed picture while price charts continue to reflect the dominance of bearish sentiment. In recent weeks, ApeCoin has encountered a series of conflicting signals from its on-chain metrics. While such metrics are typically regarded as essential indicators of a cryptocurrency’s health, they have failed to provide a clear consensus on APE’s trajectory.  Despite this ambiguity, one undeniable fact remains – bears are firmly in control of ApeCoin’s price movements. ApeCoin Price Plunge Persists Despite Short-Lived Rebounds Mid-August…

Grayscale’s victory is boost for crypto

Vivek Ramaswamy, a pro-crypto US presidential candidate, applauded the court’s ruling to favor Grayscale. He sees the victory as a watershed moment for the US web3 space. In his recent tweet, Ramaswamy criticized the overreach of U.S. regulatory watchdogs, arguing that the court’s ruling now paves the way for domestic Bitcoin (BTC) and blockchain advancement.  Ramaswamy has vowed to eliminate federal regulations that don’t meet the standard set by the Supreme Court’s test, which he believes would foster innovation while keeping it on home soil. The shadow government in D.C.…

Dogecoin And Bitcoin Become Latest Additions To Robinhood Wallet

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After a long stretch of only offering Polygon (MATIC) in its Web3 wallet, Robinhood shocks the crypto space with its announcement that it is adding two prominent cryptocurrencies, Bitcoin and Dogecoin, into its wallet offerings.  Dogecoin And Bitcoin Now Available On Robinhood Wallet California-based financial services company Robinhood has announced its new listing of Dogecoin and Bitcoin in its self-custodial Web3 wallet, Robinhood Wallet.  The press release comes as a thrilling surprise for cryptocurrency investors, as users can now have access to BTC and DOGE tokens through their Robinhood wallets.…

When will it be too late to invest in Bitcoin?

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On the latest episode of Cointelegraph’s Market Talks, host Ray Salmond spoke with Luke Broyles, a popular Bitcoin (BTC) advocate and content creator on YouTube and X (formerly Twitter). During the show, Broyles laid out his Bitcoin investment thesis and his unique perspectives on how the asset’s price could eventually rise into seven-figure territory. Broyles said that in 2020, he realized the bond market was broken. While searching for alternative investments, he discovered Bitcoin as a sound option. When asked about his Bitcoin investment strategy and how he stomachs the volatility,…

If Worldcoin can improve the world, why not give it a chance?

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All eyes have been on Worldcoin (WLD) since the July 24 launch of its “World ID” system. The issues associated with the launch have been well reported at this juncture. They include possible onboarding security risks along with Worldcoin’s use of biometric data, which is now under investigation by governments in several countries — including the United Kingdom, France and Argentina. In the tech industry, where many of the most significant innovations of the past few decades have occurred, there is often a tension between the drive to innovate and…

US Judge Dismisses Class Action Suit against Uniswap

Aside from dismissing the case against Uniswap, the judge also classified popular cryptocurrencies Ether (ETH) and Bitcoin (BTC) as commodities. United States District Judge Katherine Polk Failla has dismissed with prejudice the class action suit against the decentralized exchange Uniswap. Recall that in April 2022, six former investors on Uniswap filed a suit against the exchange for allowing scam tokens on its platform. The individuals claimed to have bought scam tokens EthereumMax (EMAX), Bezoge (BEZOGE), and Alphawolf Finance (AWF) on the platform. They alleged that it resulted in the loss…

Elon Musk Teases at Audio and Video Features of X

The launch of these new audio and video features on X comes after Musk confessed that there are no more great social media apps currently. Only a few weeks after Twitter’s former Chief Executive Officer (CEO) Elon Musk renamed the social media platform to X, he has now announced the coming of new features to the app. Some of the expected features are audio and video calls but the specific date of their launch remains unknown to members of the public. According to Musk, these new features will be compatible…