Month: September 2023

Near Foundation CEO Marieke Flament resigns

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Marieke Flament, CEO of Near Foundation — the developer of the namesake layer-1 protocol — has resigned. According to the Sept. 21 announcement, Chris Donovan, Near Foundation’s general counsel, will replace Flament as the new CEO following the resignation. Flament gave no specific reason for her departure. Speaking on her tenure, Flament said: “Two years ago, I had never heard of NEAR. Upon doing a bit of research and after several conversations it became clear that NEAR had a tremendous potential – fantastic tech, a diverse and vibrant community and…

Bank of England Ends 14-Session Interest Rate Hike Streak

The Bank of England has halted its 14 consecutive interest rate hikes, keeping rates at 5.25% due to moderating inflation. Despite this, the economy remains precarious. The Bank of England has decided to end a streak of 14 consecutive interest rate hikes, keeping them at 5.25%, following data showing a moderation in inflation. According to CNBC, the Monetary Policy Committee voted 5-4 in favor of not raising rates at its September meeting, while 4 members indicated they would have preferred a 0.25-point increase to 5.5%. The Bank of England’s decision…

Ethereum price sees new low versus Bitcoin since switching to Proof-of-Stake

Ether (ETH) has seen a 36% year-to-date increase in its price in 2023 in U.S. dollar terms. This recovery, however, is modest given that ETH is currently trading 66% below its November 2021 peak of $4,870. Ethereum vs. Bitcoin: 14-month downtrend and counting  Moreover, on Sept. 20, Ether reached its lowest levels against Bitcoin (BTC) in 14 months, breaching the critical 0.06 BTC support. This has raised questions among Ether investors about the factors behind this price decline and what it will take to reverse the trend. Ether price / BTC…

ImmutableX (IMX) Up 38% as South Korean Exchange Volume Spikes

The rapid increase in the value of Immutable’s IMX token has attracted not only the interest of crypto fans but also remarks from industry experts. In a surprising turn of events, ImmutableX (IMX) is experiencing a remarkable surge of 38.1% in just a few hours this morning following a corresponding trading volume spike. Recent data from CoinGecko revealed that IMX went from a modest $0.55 to an impressive peak of $0.76. The Driving Force Behind the ImmutableX Volume Surge The rapid increase in IMX’s price can largely be attributed to…

eToro Receives Approval to Offer Crypto-Related Services in EU Under CySEC CASP Register

eToro will be in a position to offer cross-border crypto services after the EU’s Markets in Crypto Assets (MiCA) regulatory framework goes into effect in December 2024. An investing platform with over 32 million registered users, eToro, has announced that it is ready to offer crypto-related services in the European Union (EU) after its application for registration under the Crypto Asset Service Provider (CySEC CASP) was approved. The company, however, announced that its Europe entity will be in a position to provide crypto-related services after the Markets in Crypto Assets…

NEAR Foundation’s Marieke Flament Steps Down as CEO

“When I joined two years ago, NEAR had around 50,000 users, and now we have over 2.5 million daily active users,” Flament said in an interview with CoinDesk. She added that Donovan is well-suited to the CEO role now given “the current regulatory landscape.” She added: “We are not the only ecosystem making a move like that.” Source

Chainlink hits Ethereum layer 2 Arbitrum for cross-chain DApp development

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Blockchain oracle network Chainlink has tapped into Ethereum (ETH) layer 2 scaling protocol Arbitrum to drive cross-chain decentralized application development. The two protocols announced the mainnet launch of the Chainlink Cross-Chain Interoperability Protocol (CCIP) on Arbitrum One on Sept .21, giving developers access to Chainlink’s solution that taps into Arbitrum’s high-throughput, low cost scaling. The combination of CCIP and Arbitrum One’s ecosystem aims to unlock a myriad of use cases, including cross-chain tokenization and collateralization, blockchain gaming, data storage and computation. Chainlink Labs chief business officer Johann Eid commented on…

Optimism To Sell 116 Million OP Tokens Via Private Sale:

Optimism has revealed its plans to sell 116 million OP tokens to seven private buyers. According to the update, this sale is for treasury management tokens.  Based on current prices, this sale will transfer approximately $159 million worth of OP tokens to the buyers. Given the sheer amount of the sale, some traders believe it will likely cause a decline in OP’s price. Optimism Announces Sale OF 116 Million OP Tokens Following Third Airdrop Event  In detail, Optimism posted a community update on September 20 on selling approximately 116 million…

Bitcoin Enjoys Growing Favorable Conditions, Top Analyst Says

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Bitcoin analyst and fervent BTC advocate, Will Clemente, has recently shed light on a compelling macroeconomic landscape unfolding, potentially favoring the world’s leading cryptocurrency.  Clemente suggests that the United States is currently facing an unavoidable predicament, where it must increase its money supply significantly to manage its mounting debt burden. This, he argues, sets the stage for substantial currency debasement in the near future. Clemente’s analysis hinges on the growing probability of the United States further expanding its money supply over the coming years. With the relentless trend of rapid…

Ripple Plans to Expand Workforce beyond US Borders to Asia and Europe

Ripple’s expansion plans come months after its partial victory in its ongoing legal battle with the US SEC. In a strategic move aimed at addressing ongoing regulatory issues in the United States, Ripple, a blockchain payment company, is gearing up to significantly expand its workforce in international markets. In an interview with CNBC on September 13, Ripple CEO Brad Garlinghouse said without revealing the actual locations that over 80% of the company’s new hires for the year will be directed to nations where governments actively support the blockchain industry and…