Day: October 6, 2023

MoonPay Introduces Cryptocurrency Swapping Feature

boss

MoonPay, a crypto payments infrastructure firm, has expanded the capabilities of its retail-facing crypto app by introducing a cryptocurrency swapping feature. “Introducing Swaps! 🔄 Unlock the value from the assets you already own by swapping over 1,500 trading pairs. It’s fast, cross-chain with competitive exchange rates,” MoonPay said in an X Post. Launched in May, the app initially allowed users to buy cryptocurrencies and manage multiple wallets. With the addition of swaps, MoonPay aims to offer users over 1,500 trading pairs, enabling them to unlock value from their existing assets…

CFTC weighs enforcement action against former Voyager Digital CEO: Report

Officials at the United States Commodity Futures Trading Commission (CFTC) were reportedly considering an enforcement action against Stephen Ehrlich, the former CEO of crypto lending firm Voyager Digital. According to an Oct. 6 Bloomberg report, CFTC staff were considering taking action against Ehrlich following an investigation concluding the former CEO violated U.S. derivatives regulations prior to Voyager’s bankruptcy filing. The firm filed for Chapter 11 protection in July 2022 amid the crypto market downturn. Ehrlich was reportedly “angered and perplexed” by the claims: “These allegations appear to be one of…

Worldwide Digital Asset-Based ETP AUM Remains 53% Ahead YTD Despite Quarterly Drop – Blockchain News, Opinion, TV and Jobs

Fineqia International, a leading digital asset and fintech investment business, announces that its analysis of global Exchange Traded Products (ETPs) with digital assets as underlying collateral, revealed a 53% growth in total Assets Under Management (AUM) in the year-to-date (YTD) period amid continued interest by investors. On a quarterly basis, the total AUM dropped 13% in Q3, after growing 67% and 5% in Q1 and Q2 respectively. Year-to-date, total AUM shows a premium growth of 18% compared to the underlying value of digital assets, which grew slower at 45%. In…

Michael Lewis’s SBF Biography Will Confuse People About Crypto

Lewis contrasts SBF, the ascetic, with another male character, whom he compares to “every guy in crypto,” someone who cares about sports, cars, and women. This is one of many sweeping generalizations about the motives of individuals working in the crypto industry, who, if driven by something other than lust for money, he describes as “people joined together by their fear of trust” “suspicious of big banks and governments and other forms of institutional authority.” Source

These Bitcoin Holders Have Bought Almost $2 Billion In Last 6 Weeks: Data

boss

On-chain data shows that mid to large Bitcoin holders have purchased almost $2 billion in the asset during the past six weeks. Bitcoin Holders With 1 To 10,000 BTC Have Neared All-Time High Holdings According to data from the on-chain analytics firm Santiment, the mid to large-sized BTC addresses have added 71,555 BTC to their holdings recently. The relevant indicator here is the “BTC Supply Distribution,” which keeps track of the total amount of Bitcoin that each holder group in the market is holding right now. The investors or addresses…

September’s Nonfarm Payrolls Exceeds Expectations in New Report

The unexpected strength in the labor market presents a dilemma for the Federal Reserve. Policymakers are grappling with the question of whether to raise interest rates further to cool the economy and combat rising inflation. In a welcome development for the US economy, the Labor Department released its monthly Employment Situation Report, revealing that nonfarm payrolls surged by an impressive 336,000 in September. The standout feature of the September jobs report is that the increase in nonfarm payrolls surpassed the Dow Jones consensus estimate of 170,000 by a considerable margin.…

Sam Bankman-Fried Ordered ‘Special Privileges’ for Alameda, FTX Co-Founder Gary Wang Testifies

Taking the stand in an ill-fitting black suit, Wang, who co-founded both companies with Bankman-Fried, said that in July 2019, just shortly after the exchange opened for business, Bankman-Fried directed him to write code for FTX that would let Alameda’s account balance fall below zero. It was a secret feature that no other customer of the crypto exchange had, the insider-turned-government witness said. Source

Bitcoin price dives 2% on US jobs data as Fed rate hike bets heat up

boss

Bitcoin (BTC) saw a snap retest of $27,000 around the Oct. 6 Wall Street open as wildcard United States employment data rattled markets. BTC/USD 1-hour chart. Source: TradingView Analysis: Jobs data “not what Fed wanted to see” Data from Cointelegraph Markets Pro and TradingView followed BTC price action as the largest cryptocurrency lost 2.1% in a single hourly candle. A subsequent rebound saw bulls recover those losses, with $27,700 — the area of interest from before the data release — now back in focus. The volatility came thanks to U.S.…

Tesla Cuts Prices for Model 3 and Model Y in US after Missing Deliveries Expectation

Tesla has cut prices after it announced a slowdown in deliveries. The company said the decline was caused by factory upgrades. Tesla Inc (NASDAQ: TSLA) has reduced US prices of its Model Y and Model 3 cars following third-quarter delivery figures that did not meet expectations.  According to the company’s website, the starting price for the Model 3 is $38,990, lower than the previous $40,240 listing. The long-range version dropped from $45,990 to $47,240, while the Model 3 was reduced from $53,240 to $50,990. Tesla also reduced its Model Y sports…

Flow proposes bridging to Ethereum via ‘gateway’

A new proposal has been suggested to create a “gateway” software that will enable transactions from Ethereum to be wrapped and submitted to Flow.  If the community approves, the Flow (FLOW) ecosystem could soon support Ethereum-based decentralized applications (dapps).  The proposal was published by Dieter Shirley, Dapper Labs co-founder and Lead Architect at Flow, who explained that no code changes would be required to make full Ethereum Virtual Machine (EVM) equivalence on Flow.  Developers could wrap external transactions in Cadence, a smart contract programming language for the Flow blockchain, using the so-called…