Day: November 6, 2023

UK stablecoin regulation begins to take shape in multiple FCA, BOE documents

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A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE). To accompany those, the BOE’s Prudential Regulatory Authority (PRA) released a letter to CEOs of deposit-taking institutions, and the BOE released a “cross-authority roadmap” to link them together. His Majesty’s Treasury set the stage for the flurry of releases on Oct. 30 with a short document previewing plans for regulation. The FCA paper explored the same ground…

Shiba Inu-Based BONE Eyes $1 As This On-Chain Metric Explodes

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BONE, a token based on the Shiba Inu ecosystem, has had quite a dull month in terms of bullish price movement. However, the Shiba Inu ecosystem is currently experiencing an increase in on-chain transactions, and BONE hasn’t been left out.  Some SHIB whales have increased their holdings in anticipation of a new milestone for Shibarium. At the same time, BONE also had an increase in large transactions, and this key on-chain metric suggests the token could be ready for a major price appreciation. BONE Large Transaction Volume Increases The daily…

Price analysis 11/6: SPX, DXY, BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON

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Bitcoin price is consolidating near $35,000. Will altcoins capitalize on the sideways price action and move higher? Bitcoin’s (BTC) marginal rise of about 1.5% last week suggests that traders are cautious at higher levels but they are not rushing to the exit. The bears have been in hibernation for the past few days but if the rally fails to resume, sellers may try to make a comeback. However, in an uptrend, dips are usually viewed as an opportunity for long-term investors to accumulate. The positive sentiment among traders can be…

Sam Bankman-Fried Will Not Be Crypto’s Albatross

Of course, as former CoinDesker Michael McSweeney wrote in a recent Blockworks op-ed, the industry will likely be irrevocably changed by SBF. In the same way that the collapse of Mt. Gox accelerated the formation of regulations around the world (in particular in Japan, where Mt. Gox was based, and in New York State with the BitLicense), legislatures have mobilized to pass laws to prevent the next FTX. Source

Llama raises $6m to simplify smart contract access management and governance

Polygon co-founder Sandeep Nailwal and Stani Kulechov, founder of Aave, were among investors in a fundraise for Llama, a protocol aiming to provide easy-to-use tools for on-chain organizations. Llama, an access control and governance platform for smart contracts, raised $6 million during a seed funding round led by Founders Fund and Electric Capital. The capital raise is earmarked for further development of Llama’s platform which co-founders Shreyas Hariharan and Austin Greene say would allow developers to focus on their core products.  Hariharan’s statement regarding the announcement noted that builders could…

Conflux Protocol Shuts Down This Key Feature After 2 Years

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After over two years of operation and maintenance by the Conflux Foundation, ShuttleFlow, a multi-asset bridge built on Conflux, is set to shut down.  Per the announcement, the platform was pivotal in driving progress within the decentralized finance (DeFi) arena, enabling “seamless” asset transfers across various chains.  Conflux Foundation Passes The Torch ShuttleFlow emerged as one of the advanced multi-chain asset bridges in the DeFi space. Its architecture facilitated interoperability between different blockchains, opening up new user possibilities.  Notably, ShuttleFlow enabled “effortless swaps” between external blockchains such as Ethereum (ETH)…

The Main Drivers Behind The 23% XRP Price Rally Revealed

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Recently, the main players responsible for the recent 23% increase in XRP price were brought to light. The digital asset has since continued with its firm rally over the last 24 hours, arriving at almost $0.72. Recent Activities Buttress The Price Of XRP XRP’s 23% price surge took place in the last day and crypto enthusiasts and investors’ belief in XRP has been steadily increasing as whale wallets keep filling up. Related Reading: XRP Price Surge Imminent? Expert Eyes 1,500% Rally Signal From Past According to crypto analytics platform Santiment, wallets…

Binance CEO Teases Major Announcement amid Crypto Market Turbulence

This impending Binance announcement arrives just days after a substantial transfer of 10,000 BTC, valued at over $345 million, to the exchange from an anonymous wallet. In a cryptic post on X, Changpeng ‘CZ’ Zhao, the CEO of Binance, recently sparked the curiosity of the crypto community by simply posting the number “3” and an announcement with a video captioned “COMING SOON.”  Binance Announcement amid Liquidation  While the content of this upcoming announcement remains shrouded in mystery, it has piqued the curiosity of crypto enthusiasts and investors alike. Coincidentally, this…

Indian Police Arrest 8 Suspects, Including 4 Cops, in $300M Crypto Scam: Report

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Bitcoin price reclaims $35K — Will ATOM, UNI, NEAR and AXS rally next?

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The S&P 500 Index soared 5.85% last week, its best performance since November 2022. A large part of the gains were fuelled by expectations that the Federal Reserve will not hike rates anymore.  In comparison, Bitcoin (BTC) had a much muted performance with a rise of approximately 2%. However, a positive sign for cryptocurrency investors is that a risk on sentiment is likely to benefit the crypto space. Crypto market data daily view. Source: Coin360 Bitcoin’s rise attracted investments in several beaten-down altcoins, which are rising from their long-term slumber.…