Day: October 29, 2023

What are open-source protocols, and how do they work?

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Understanding open-source protocols Open-source protocols have become a mainstay in the tech world and are gaining traction due to the myriad benefits that they offer over their proprietary counterparts. The protocols are typically created with the intention of being used by the public, enabling anyone to examine, alter and share their code. The benefits of open-source protocols are multifaceted, ranging from their inherent transparency to their wider accessibility.  Additionally, they rely on peer evaluations, a cost-effective and inclusive model that distinguishes them from their proprietary counterparts. Prominent examples of open-source…

FTX And Alameda Addresses Move $80 Million In Crypto Over The Past Week

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According to the latest on-chain data, wallet addresses linked to the now-bankrupt FTX exchange and Alameda Research have transferred substantial amounts in crypto assets over the past week. This series of funds movement was first brought to the limelight by prominent blockchain analytics firm Nansen, who reported that more than $60 million had been moved. However, further on-chain revelation shows that nearly $80 million has been moved from FTX- and Alameda-linked addresses in the previous week. Nansen Uncovers FTX And Alameda’s $60 Million Transfer On Friday, October 27, Nansen disclosed…

South Korea’s Crypto Frenzy: Over 6 Million Investors Fuel Centralized Exchanges’ Dominance: Survey

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South Korea has solidified its position as a global hub for crypto investment, with a recent survey putting the total number of crypto investors at over six million, more than 10% of the nation’s total population. A survey conducted by the Korea Financial Intelligence Unit (KoFIU) projects that the number of crypto investors in the country will surpass six million in the first half of 2024. Notably, the majority of these investors actively participate in investment activities facilitated by centralized exchanges, showcasing a distinctive trend in the market. Despite a…

BTC above $35K, SBF testifies, Gemini, Elon Musk

This week saw Bitcoin (BTC) hit a new yearly high; Sam Bankman-Fried testifies; Gemini sues Genesis Global, Elon Musk has crypto plans and regulatory efforts resurface. Bankman-Fried testifies FTX founder Sam Bankman-Fried took the stand on day 13 of his trial to deliver testimony, leveraging a remarkable “I don’t recall” approach in his speech to the judges. Bankman-Fried claimed that FTX refrained from utilizing auto-deletion mechanisms for their decision-making channels and leaned heavily on Signal for security measures. Furthermore, he deflected accountability onto his legal counsel, underscoring his lack of…

Pepe Conquers The Weekend Charts With 61% Rally

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Amidst the crypto market’s recent surge propelled by rumors of the Bitcoin Spot ETF approval, PEPE, a noteworthy altcoin, made a strong move by announcing the burning of over $5.5 million worth of its PEPE tokens. This smart decision resulted in a remarkable 30% surge within just 24 hours, propelling the value of PEPE to a two-month high. The surge in the crypto market triggered by the potential Bitcoin Spot ETF approval provided the perfect backdrop for PEPE’s strategic action, marking a significant upward shift in its value and indicating…

A decentralized revolution: Empowering the masses with home staking

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Blockchain technology has long held the promise of decentralization, offering the potential to redefine how we interact with data, value, and trust. As this technology continues to emerge fast, the concept of “home staking” emerges as a powerful force that has the potential to reshape the landscape of blockchain networks. This begs the question: How does home staking empower the masses, and why is it crucial for…

Crypto Spot Trading Volumes Climb To 8-Month Highs

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Bitcoin’s surge past $35,000 on the 24th and 25th of October took the crypto world by surprise, as it indicated what might be the beginning of a new bullish sentiment. Trading volumes for the world’s largest cryptocurrency hit their highest levels since March, showing that interest in Bitcoin is booming once more. The entire crypto market saw an inflow of funds during the week, leading to a surge in market cap. Data from CoinGecko shows that the entire market cap increased from $1.184 trillion on Sunday, October 22, to $1.312…

First Bitcoin ETF trades $1.5B as GBTC ‘discount’ echoes $69K BTC price

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Bitcoin (BTC) institutional investment vehicles are seeing a major volume boost as excitement over possible United States regulatory changes takes hold. Data from resources including Bloomberg showed Bitcoin exchange-traded funds (ETFs) and others nearing record weekly inflows. BITO, GBTC trade $2.5 billion  Hints that the U.S. might soon allow a Bitcoin spot price-based ETF have not only impacted BTC price action — the surrounding ecosystem has benefitted in kind. In addition to exchanges and mining firms, embattled institutional investment options are also seeing a resurgence in demand. As noted by…

Ripple CEO criticizes former SEC Chair Jay Clayton’s comments

Ripple CEO Brad Garlinghouse strongly criticized former United States Securities and Exchange Commission (SEC) Chair Jay Clayton’s remarks regarding the agency’s regulatory approach. Since the first quarter of 2023, the SEC has initiated various regulatory actions against crypto exchanges and companies. During an interview with CNBC on June 29, 2023, Clayton expressed his view that the SEC should pursue legal action against specific companies only when they have strong legal grounds. He emphasized that regulatory agencies should introduce regulations and legal cases they believe will successfully withstand judicial scrutiny. Watching…

$15,000,000,000,000 Floodgates Will Open for Bitcoin Upon Approval of BTC Exchange-Traded Fund: Glassnode Founders

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The co-founders of crypto analytics firm Glassnode think that a deluge of capital will flow into Bitcoin once regulators greenlight a spot-based BTC exchange-traded fund (ETF). Glassnode co-founders Jan Happel and Yann Allemann, who share the Negentropic handle on the social media platform X, say institutional capital to the tune of trillions of dollars is waiting on the sidelines for a spot market BTC ETF. “The introduction of Bitcoin Spot ETFs is reshaping the financial landscape in unprecedented ways. Demand is on the rise, with over $15 trillion in assets…