Celo may be inclined to consider the Polygon proposal as well as potentially other project teams that might float their own competing offers: “Frankly, would not be surprised to see other stacks chime in too,” a person close to the Celo ecosystem told CoinDesk. Source
The Financial Conduct Authority (FCA), the United Kingdom’s financial markets regulator, has again expressed its concern over the lack of engagement on the part of crypto firms that will soon be subject to new marketing rules. The consequences of noncompliance could be severe, it warned. In a letter dated Sept. 21, the FCA said it was making a final warning to firms marketing crypto assets to UK consumers. The four-page letter first documented the efforts the agency had made to reach out to crypto firms and attempted to support them…
The price of the Immutable X blockchain project token jumped by 33% in a few hours, crypto experts claim this is a result of market manipulation. On the morning of Sept. 21, the IMX token rate increased by 32.56%, according to TradingView. At the moment, the price of IMX reached $0.83, later it rolled back, and the asset is now trading at $0.64. The capitalization of the asset also increased. In a matter of hours, it jumped from $647.5 million to $887 million, according to CoinMarketCap. Daily trading volume increased from…
There’s lots of talk these days about how blockchains can make AI safe for human consumption. But is the idea, widely touted in the crypto community, workable in practice? Jeff Wilser takes a critical look. Source
CryptoX – Cryptocurrency Analysis and News Portal Christopher Jensen from Franklin Templeton tackles myths about crypto in the Crypto for Advisors newsletter. Source The post Top 3 Crypto Myths Tackled for Advisors appeared first on CryptoX. CryptoX Portal
Data shows Bitcoin shorts have been piling up on cryptocurrency exchanges Binance and Deribit during the past few days. Bitcoin Funding Rates On Binance & Deribit Are Deep Red Right Now According to data from the analytics firm Santiment, traders on the derivative market have continued to bet against the cryptocurrency recently. The relevant indicator here is the “funding rate,” which keeps track of the periodic fee that derivative contract holders on an exchange are paying each other right now. When this metric has a positive value, it means that…
Venmo, a versatile financial application, provides a range of features, including peer-to-peer (P2P) money transfers and cryptocurrency transactions. Serving as a comprehensive financial tool, Venmo enables users to seamlessly handle transactions, including the option to participate in digital currencies like Bitcoin (BTC). The app is designed to simplify financial operations and assist users in navigating contemporary economic systems. What is Venmo? Venmo, a mobile payment service established in 2009, has been under PayPal’s ownership since 2013. It operates as a P2P platform for money transfers within the United States. The…
Damoon, a Tether subsidiary in which Northern Group acquired a stake earlier this year, has purchased $427 million of Nvidia chips for generative AI cloud computing. Source
A recent announcement by the US Securities and Exchange Commission (SEC) suggests that the crypto industry may be in for more pain as it continues to endure the far-reaching consequences that the Commission’s enforcement actions have had on it. More Pain Incoming For Crypto? During the Securities Enforcement Forum Central 2023, David Hirsch stated that his office plans to bring action against other crypto companies that were breaking the law. Hirsch heads the agency’s unit (Crypto Assets and Cyber Unit) that handles crypto enforcement, including the lawsuits against the biggest…
Proof of Play, a company led by Farmville co-creator Amitt Mahajan, raised $33 million to create Web3 games, according to a Sept. 21 announcement. Majahan is the CEO of Proof of Play, and Twitch co-founder Emmett Shear is a board member. The funding was co-led by Chris Dixon at Andreessen Horowitz (a16z) and Neil Mehta at Greenoaks. Investors Naval Ravikant, Balaji Srinivasan and the founders of streaming platform Twitch also participated, as well as Web3 firms Anchorage Digital, Mercury, Firebase, Zynga and Alchemy. Proof of Play released a closed beta…