Month: September 2023

Bybit Launches Perp Protect to Redefine Crypto Risk Management

Bybit noted that traders anticipating market volatility can leverage Perp Protect to secure their positions, giving them a proactive edge in navigating turbulent market conditions. Bybit, one of the world’s leading crypto exchanges, has taken a bold step by introducing Perp Protect, an industry innovation tool poised to reshape the way traders safeguard their investments. The Birth of Bybit Perp Protect Bybit, a platform known for its commitment to providing traders with cutting-edge features, has developed Perp Protect as a response to the challenges faced by crypto traders. Traditional risk…

Investors buy $250M of FTX claims — Report

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The bankruptcy claims market has been growing bullish on the debts of the collapsed cryptocurrency exchange FTX as major credit investors have been rushing to buy FTX debts. Investors like Silver Point Capital, Diameter Capital Partners and Attestor Capital have purchased more than $250 million worth of FTX debts so far in 2023, Bloomberg reported on Sept. 21, citing an in-house analysis of public court filings. The FTX debt has also attracted investors like Hudson Bay Capital Management, which reportedly bought a $23 million FTX claim and subsequently sold about…

Investment Firm Founder Has An Important Message For Bitcoin Holders

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SkyBridge Capital founder Anthony Scaramucci recently shared positive views on the flagship cryptocurrency, Bitcoin, which could provide some comfort to BTC holders as the bear market lingers.  Scaramucci Says HODL Bitcoin According to a report by Business Insider, the investment firm founder advised Bitcoin holders not to sell their BTC as they already made it through the winter. Interestingly, he mentioned that the worst of the bear market is over. Despite this being a bold assertion, there is evidence to suggest that he might be right. There is the likelihood…

YouTube Adds AI-Powered Editing Features for Content Creators

One of YouTube’s new tools that already shows signs of becoming a big hit among creators is what it calls the Dream Screen. Much to the delight of video content creators, YouTube has announced that it is adding some new editing features. The move is in line with the efforts of the parent company Alphabet toward incorporating generative artificial intelligence (AI) technology into its products and services. It also follows an earlier announcement in March when the Google-owned video platform first revealed its intention to develop the tools. YouTube Unveils…

Binance’s Bitcoin volume plummets after end of zero-commission trading

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The drop in Bitcoin (BTC) activity on Binance, a cryptocurrency exchange, has been attributed to the removal of zero-commission trading in September. Bloomberg experts noted a 26% drop in average seven-day volume since the start of September. TrueUSD ended commission-free trading of BTC and stablecoins on Sep. 7, resulting in an 89% decline in the average seven-day volume of this trading pair. Additionally, Binance has seen withdrawals of approximately 12,230 BTC worth $330 million since August, along with an outflow of approximately 198,200 Ethereum (ETH) worth about $323 million. Bitcoin…

India to develop dark net monitoring tool to combat crypto fraud: Report

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The Indian Ministry of Home Affairs (MHA) is reportedly developing a crypto intelligence tool in response to a rise in illegal activities around cryptocurrencies in the country.  According to a CNBC report, the MHA aims to combat crypto-related crime through the Cryptocurrency Intelligence and Analysis Tool (CIAT). The project is spearheaded by an MHA division called the Indian Cyber Crime Coordination Centre, which is dedicated to investigating and addressing cybercrime. With CIAT, the MHA will monitor crypto wallet addresses in the dark net. This will facilitate the compilation of transaction…

EU Parliament research recommends non-EU nations tighten crypto regulation

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The European Parliamentary Research Service (EPRS) highlighted the need for tighter oversight from non-European Union regulators to ensure greater stability and development in the global cryptocurrency market. MiCA implementation timeline. Source: esma.europa.eu As the Markets in Crypto-Assets Regulation (MiCA) Act continues on the road to implementation by December 2024, an EPRS report cited the need for establishing a tighter regulatory framework in non-EU jurisdictions: “There are yet several channels through which the EU’s financial system and autonomy is still at risk as it remains dependent on non-EU countries’ policy actions in the…

blockchain is not ready for mainstream gaming

Colleen Sullivan, who is in charge of Brevan Howard Asset Management’s crypto-venture arm, recognizes the potential of blockchain technology in the gaming industry. However, she also acknowledges the current technological limitations. In particular, she highlights concerns about the public ledger’s throughput, particularly in networks such as Solana, which can only process approximately 2,000 user transactions per second. This capacity, in her view, falls short of what is required to host high-quality gaming experiences. “That’s still a fraction of what it would take to put a game like Monopoly GO, its…

Cisco Acquires Cybersecurity Firm Splunk for Massive $28B in Cash

This is Cisco’s largest acquisition till date as the company plans to amp up its cybersecurity division to boost the company’s revenue. In a major announcement on Thursday, September 21, America’s digital communications and technology giant Cisco announced the acquisition of cybersecurity firm Splunk for a staggering $28 billion. The $1578 per share cash deal is Cisco’s largest acquisition to date. Acquisition of Splunk by Cisco On Thursday, Splunk’s shares surged by a 21% increase in value, whereas Cisco’s shares ended the day with a 4% decline. Splunk’s technology is…