Day: October 11, 2023

Bitstamp to Exit Canadian Market in January 2024

The reason behind the decision to leave the Canadian market was not revealed by Bitstamp. Notably, the exchange follows Binance, OKX, and Bybit which announced their exit from Canada earlier. Luxembourg-based crypto exchange Bitstamp is planning to stop providing services in the Canadian market in January 2024. The deadline for withdrawing customers’ funds is January 8. Afterward, Bitstamp will deactivate Canadian users’ accounts. The announcement was shared by Bobby Zagotta, Bitstamp’s US CEO and Global Chief Commercial Officer: “After initially informing our valued customers in March, Bitstamp will officially discontinue its…

DeFi comes with significant risks as well as benefits

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The European Securities and Markets Authority (ESMA) — the European Union’s financial markets supervisory authority — released an article on decentralized finance (DeFi) and the risks it poses to the EU market on Oct. 11.  In a 22-page report, the ESMA admits the promised benefits of DeFi, such as greater financial inclusion, the development of innovative financial products, and the enhancement of financial transactions’ speed, security, and costs. However, the paper also highlights the “significant risks” of DeFi. According to ESMA, the first one is the liquidity risk tied to the…

Bitcoin Is Good Hedge in Current Geopolitical Tensions, Says Paul Tudor Jones

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Amid the macro developments and geopolitical tensions, Bitcoin has continued to outperform the rest of the crypto market. Despite the current selling pressure, billionaire investors continue to bet on Bitcoin (BTC) and see it as a potential hedge against the current geopolitical tensions. On Tuesday, October 10, billionaire hedge fund manager Paul Tudor Jones said that it’s extremely risky now to invest in risk assets, however, he has his hopes alive in Bitcoin. Paul Tudor Jones and His Stance on Bitcoin In an interview with CNBC, Tudor Jones said: “It’s…

A Prelude To A Stunning Surge To $2

Renowned crypto analyst Egrag delivered a fresh and in-depth XRP price analysis across multiple timeframes today. As of press time, the cryptocurrency stands at $0.4825, marking a decrease of about 12% since October 3, when it reached a high of $0.5478. Despite the bearish momentum fueled by the broader crypto market trend, Egrag projects bullishness on higher time frames. Monthly Chart XRP/USD On the monthly XRP/USD chart, Egrag took to Twitter to share his insights, stating: “XRP Monthly Bullish Pennant – Super Bullish Sign: Do you spot the pattern like…

Ellison Was CEO But SBF Was Still Boss at Alameda, Her Testimony Suggests

The answer is quite a lot. In the first day of what’s sure to be a lengthy testimony, Caroline gave the jury a methodical tour of the crypto loans that felled Alameda, FTX and the exchange’s customers, investors and lenders. By her account, it was all about appearances. She discussed the highly illiquid “Sam coins” that made Alameda’s balance sheet look robust to major lenders, including Genesis (a subsidiary of CoinDesk owner Digital Currency Group), which subsequently loaned the hedge fund billions of dollars secured by soon-to-be-toxic collateral: FTX’s own…

Immutable Teams Up with Amazon Web Services to Grow Web3 Gaming

Through this partnership, Immutable will be able to grow its business further as AWS provides it with a large pipeline of potential gaming studio partnerships worldwide. Immutable, a leading company in web3 gaming, has announced a strategic partnership with Amazon Web Services (AWS), a major cloud computing services provider, to achieve its goal of making Web3 gaming go mainstream. This cooperation is part of the company’s wider vision of making game development safer, easier, and more accessible using blockchain technology. Benefits of the Immutable-Amazon Web Services Collaboration Through this partnership,…

Bitstamp’s departure from Canada is ‘timing issue,’ says CEO

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Cryptocurrency exchange Bitstamp hopes to return to Canada after halting operations early next year, according to Bitstamp U.S. CEO and global chief commercial officer Bobby Zagotta. Bitstamp will officially discontinue its services to customers in Canada starting from Jan. 8, 2024, the exchange confirmed in a statement to Cointelegraph. As a result of the service termination, all Canada accounts on Bitstamp will be closed and customers will no longer have access to their accounts. Bitstamp has strongly recommended its Canadian customers withdraw their funds by January 2024, also urging the…

JPMorgan Debuts Tokenized BlackRock Shares as Collateral with Barclays

“Onyx Digital Assets already enables clients to access intraday liquidity via repo transactions,” said Tyrone Lobban, JPMorgan’s Head of Onyx Digital Assets, in a statement. “Now with the launch of TCN, clients can benefit from additional utility from their MMF investments by posting tokenized MMF shares as collateral – a faster, more cost-effective way of meeting margin requirements.” Source BarclaysBlackRockCollateralDebutsJPMorganSharesTokenized CryptoX Portal

SBF’s lawyers ask court to allow introduction of Anthropic evidence

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In a motion filed on Oct. 10, Sam “SBF” Bankman-Fried’s lawyers requested that the court allow for the introduction of evidence supporting positive investment outcomes, such as an investment in the artificial intelligence (AI) startup Anthropic.  This comes after United States prosecutors filed a request on Oct. 9 to bar SBF’s legal team from making any arguments related to FTX customer funds recovery through the Anthropic investment. Bankman-Fried made a $500 million investment in the AI startup in April 2022 before the exchange’s collapse. The U.S. Department of Justice (DOJ) is…