“For BTC, option sellers were short too many put options, for more investors were previously bullish, selling put options to finance buying call options to reduce costs. So the sudden and unexpected price drop lead to hedging behavior, catalyzing deeper decline,” Griffin Ardern, volatility trader from crypto asset management firm Blofin, said. Original
PEPE, the amphibian-themed token that kickstarted the meme coin season in April this year, remains a subject of both fascination and volatility within the cryptocurrency landscape. Its journey, marked by highs and lows, offers insights into the evolving dynamics of this speculative market. In a surprising turn of events, the meme coin arena witnessed a significant exchange of millions of SHIB and BONE tokens for PEPE, shortly after the successful launch of Shibarium’s mainnet. A notable whale, identified by Lookonchain as per a PEPE price analysis data cited in a…
Mastercard is partnering with seven blockchain and payment technology providers to explore the potential and challenges of central bank digital currencies (CBDCs). The specific plans for the collaboration remain under wraps in the payment giants’ Aug. 17 announcement. Mastercard has highlighted key areas of interest in the CBDC realm, such as security, privacy, interoperability, and innovation. We’re partnering with several central banks to help them research new digital currencies projects. It starts with understanding what they want to achieve with this technology, then building in transparency, consumer privacy and stability.…
A community member started a discussion among participants in the Mantle decentralized autonomous organization (DAO), proposing to restrict the collapsed FTX exchange and Alameda Research from converting their BitDAO (BIT) tokens worth $43 million to Mantle (MNT) amid the ongoing token migration process. Community discussion on preventing FTX from converting its BIT tokens. Source: Mantle On Nov. 2, 2021, BitDAO swapped 100 million BIT with Alameda in exchange for over 3.3 million FTX tokens (FTT). The trade came with a public commitment to hold each other’s tokens for a span…
David Ferrucci, the artificial intelligence (AI) researcher who led the team behind IBM Watson’s development — the question-answering supercomputer developed by IBM — has raised nearly $60 million for his Elemental Cognition AI startup. According to a submission on Aug. 17, the company has finalized equity sales amounting to $59.95 million from 17 investors, with additional plans to secure $5.75 million in funding. Based in the Helmsley Building in New York, Elemental aims to create AI with advanced reasoning capabilities. The company provides two enterprise chatbot solutions, Cogent and Cora, which are…
Creditors will be sent ballots to vote on the plan, involving the sale of assets to a consortium including Arrington Capital and miner U.S. Bitcoin Corp, between Aug. 24 and Sept. 22. Returns for creditors – which will largely be done in bitcoin (BTC) and ether (ETH) – could range from 67% for Earn Account holders to 85.6% for those participating in Celsius’ Borrow Program, compared to just 47% for a liquidation of assets, court filings said. Source
In a significant move signaling the growing importance of Central Bank Digital Currencies (CBDCs) in global financial systems, Mastercard has announced a strategic partnership with several blockchain companies, including Ripple. Meanwhile, the XRP price took a nosedive in the past 24 hours, falling 14.3% amidst the marketwide downturn. Ripple Partners With Mastercard Unveiling its CBDC Partner Program, Mastercard emphasized its intent to work with leading figures in the CBDC ecosystem. The objective: to offer central banks a comprehensive understanding of CBDCs and their potential for redefining the future monetary systems.…
In the past 24 hours, Bitcoin fell as much as 9% to $25,000 from $28,500 on Binance, leading to a market-wide fall that sent major tokens like litecoin (LTC) tumbling by 14%. This caused more than $1 billion in crypto futures to be liquidated, a 14-month high. Original
HUAWEI CLOUD, the cloud service division of global technology titan Huawei, has officially entered into a “Memorandum of Understanding (MoU)” with COBO, a frontrunner in digital asset custody solutions. This landmark announcement was made during an exclusive, closed-door event. The collaboration between HUAWEI CLOUD and COBO is not just a partnership but a shared vision. Both entities are striving to accelerate the adoption and evolution of blockchain technology across Asia. HUAWEI, with its extensive experience spanning over three decades in ICT infrastructure products and solutions, has always been at the…
Solana-based decentralized futures exchange Cypher Protocol has managed to freeze $600,000 worth of crypto stolen from an Aug. 7 security exploit. In an X (Twitter) post on Aug. 18, Cypher Protocol reported that more than half of the funds stolen have been successfully frozen across centralized exchanges with the help of several independent blockchain investigators. “The return of these funds will be predicated on the cooperation of these CEXs and seizure warrants being issued by law enforcement,” it said. update from cypher ~$600k has been frozen across CEXs, the return…