Day: November 22, 2023

BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX

Traders hate uncertainty; hence, the settlement between Binance, Changpeng “CZ” Zhao and the United States Department of Justice is likely to be viewed as a positive for the cryptocurrency space. Analysts largely remained positive on the deal, but a few sounded cautious due to the Securities and Exchange Commission’s pending lawsuit against Binance. Bitcoin (BTC) and several major altcoins fell sharply on Nov. 21 following the Binance news but are finding support at lower levels. This suggests that traders stepped in after the initial knee-jerk reaction, and are buying at…

BlackRock met with SEC officials to discuss spot Bitcoin ETF

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Representatives from BlackRock and the Nasdaq met with the United States Securities and Exchange Commission to discuss the proposed rule allowing the listing of a spot Bitcoin (BTC) exchange-traded fund, or ETF. According to a Nov. 20 SEC memo, BlackRock provided a presentation detailing how the firm could use an in-kind or in-cash redemption model for its iShares Bitcoin Trust. It’s unclear how SEC officials responded to the two proposed models or if they intend to approve a spot BTC ETF after numerous delays and rejections. Looks like @BlackRock also…

HTX exchange loses $13.6M in hot wallet hack: Report

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HTX, formerly Huobi Global, suffered an estimated loss of $13.6 million as part of the $86.6 million HECO Chain bridge exploit on Nov. 22.  According to a report by blockchain security firm Cyvers, the losses stem from three compromised hot wallets with users and exchange assets swapped for Ether and distributed to various Ethereum addresses thereafter. Among other coins and tokens, Cyvers says that 1,240 Ether (ETH), 7.3 million Tether (USDT), 1.78 million USD Coin (USDC), and 62,200 Chainlink (LINK) were drained during the attack.  Justin Sun, de-facto owner of HTX and founder of…

Nvidia posts record $18B third quarter revenue, cites generative AI as primary driver

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Nvidia announced third quarter revenue for 2023 in the amount of $18.12 billion, a company record, as the firm’s market cap now reaches $1.22 trillion. The better-than-expected earnings follow a 12-month growth trend during which the company saw earnings increase by 34% over last quarter, and 206% over Q3 2022. While the company beat estimates, the strong quarter likely didn’t surprise investors or shareholders as the company’s stock recently spiked to an all time high of $499.60 per share. Nvidia founder and CEO Jensen Huang credited the growth to AI…

Statement on Court of Appeal judgment on Freedom of Information Act appeal

The Court of Appeal has ruled against the Information Commissioner’s Office (ICO) in a Freedom of Information Act 2000 appeal regarding the ability to aggregate public interest factors for and against disclosure when applying exemptions under the Act. The Department for Business and Trade appealed the Upper Tribunal’s judgment that the public interest exemption cannot be combined when more than one exemption applies to the same information. In response, the ICO argued the Upper Tribunal’s judgment was correct, and the Act is clearly structured to allow sequential consideration of single…

Ethereum L2 Blast Crosses $123 Million, Important Things To Know Before You Bridge In

Blast, a brand new Ethereum Layer 2 network, has drawn a startling amount of interest and security concerns due to a surge of investors using the network to bridge their assets.  Blast Hits $123 Million In TVL Blast recently announced its mainnet access on X (formerly Twitter). The L2 network built by Pacman Blur has gained a staggering amount of attention from crypto investors following the declaration. “Introducing Blast: The only Ethereum L2 with native yield for ETH and stablecoins. We’ve raised $20m from Paradigm and StandardCrypto to build the…

KPMG Canada Partners with Chainalysis to Combat Crypto Fraud

The announcement of KPMG Canada’s partnership with Chainalysis coincides with broader industry efforts to tackle fraud associated with crypto. The KPMG Canada has announced a strategic partnership with blockchain analytics firm Chainalysis in response to the escalating threats of exploits and fraud within the crypto sector. Kunal Bhasin, Partner and Cryptoassets and Blockchain Co-leader at KPMG Canada, emphasized that “this collaboration will help to further solidify KPMG’s expertise in forensic investigations and cryptoassets and blockchain technology.” The KPMG Canada and Chainalysis Approach As the digital assets ecosystem expands, so does the…

PancakeSwap implements new ‘Gauges’ voting system and sunsets vCAKE metric

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Decentralized crypto exchange PancakeSwap has implemented a new voting system called “Gauges” and sunsetted its vCAKE metric, replacing it with a new metric called “veCAKE.” Your CAKE, Your Voice Introducing Gauges Voting and veCAKE More governance power Control CAKE emissions Deeper liquidity Vote Incentiveshttps://t.co/doaCruwMV6 pic.twitter.com/GxHGHdIG4J — PancakeSwapEveryone’s Favorite DEX (@PancakeSwap) November 22, 2023 The system allows governance tokenholders to vote for additional rewards to be distributed to particular pools, according to a Nov. 22 blog post. PancakeSwap is the third-largest decentralized exchange (DEX) in terms of total value locked (TVL),…

Measuring Blockchain Adoption, Utility, and Health with On-Chain Transaction Volume

Conversely, during bearish periods, trading volumes start to dwindle, with bursts of activity around periods of deleveraging. Uncertainty, negative news, regulatory crackdowns, or market corrections often lead to a decline in trading. Investors might adopt a wait-and-see approach, leading to decreased transaction volumes, and they might move their assets to cold storage or stablecoins, reducing the overall trading activity on exchanges. Source link