Day: December 7, 2023

What Is Defi? An Explainer And Guide

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Decentralized Finance, commonly known as DeFi, is rapidly reshaping the landscape of financial transactions and systems in our increasingly digital world. This innovative approach to finance merges traditional monetary processes with the cutting-edge technology of blockchain, offering a more accessible, transparent, and efficient financial system. In this guide, we delve into the question “What Is DeFi”, we aim to demystify decentralized finance, illustrating its importance and impact in today’s financial and cryptocurrency landscapes. What Is DeFi? DeFi, short for Decentralized Finance, represents a paradigm shift in the way we think…

Binance founder CZ must stay in US until February sentencing, judge orders

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Binance founder Changpeng “CZ” Zhao must stay in the United States until his February sentencing as he’s unlikely to return to the country if allowed to travel to the United Arab Emirates, a federal judge has ruled. On Dec. 7, Seattle District Court Judge Richard Jones ordered Zhao to stay in the U.S. until his Feb. 23, 2024 sentencing date. He faces up to 18 months in prison after pleading guilty to money laundering on Nov. 21. “The defendant has enormous wealth and property abroad, and no ties to the…

Shiba Inu Burn Rate Rises Rapidly In One Week, What’s Been Driving It?

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The rise in the Shiba Inu burn rate has no doubt been one of the most notable developments in the community. At the start of the week, the burn rate rose over 7,000,000% after more than 8 billion tokens were burned in a 24-hour period. This trend has not slowed down either given that the burn figures have continued to rise daily. Shiba Inu Burn Surge Continues Earlier in the week when the Shiba Inu burn saw one of its highest daily spikes, the total number of tokens burned had…

Bitcoin options data shows whales betting big — Will $50K BTC come in January?

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Bitcoin (BTC) options open interest reached an unprecedented milestone, surging to a staggering $20.5 billion on Dec. 7. This remarkable achievement signifies the active involvement of institutional investors in the cryptocurrency space. Unlike futures contracts, BTC options come with predetermined expiration prices, offering valuable insights into traders’ expectations and the markets’ sentiment. At the forefront of the Bitcoin options market stands Deribit, boasting an impressive 90% market share. The exchange currently holds a substantial $2.05 billion open interest for options expiring on Jan. 26. However, it’s worth noting that a…

Micheal Saylor’s Poll Unveils Bitcoin Enthusiasts Aiming For $1 Million Mark

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Recently, Michael Saylor, the founder of MicroStrategy and a prominent Bitcoin (BTC) proponent, took to social media to gauge the Bitcoin community’s sentiment on the future price of the digital asset. Saylor, who has transitioned from CEO to head of Bitcoin strategy at MicroStrategy, posed a significant question to the Bitcoin community on X. Saylor’s inquiry was straightforward yet profound: “How high will BTC need to rise before you would consider selling a small portion of your Bitcoin?” This question, aimed at understanding the threshold that might trigger selling decisions, garnered…

Sam Altman-linked Meanwhile Advisors creates BTC private credit fund

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Bitcoin life insurance innovator Meanwhile Group has come out with a private credit fund denominated in Bitcoin (BTC). The closed fund will offer investors a “conservative” yield in Bitcoin and lend funds in BTC to institutional counterparties at the managers’ discretion.  Meanwhile Advisors are targeting a 5% yield on the Meanwhile BTC Private Credit Fund term. By vetting loan recipients, the fund “effectively mitigates” the risk associated with retail platforms that provide loans predominantly to individuals, the company said in a statement. Related: Coinbase launches crypto lending platform for US…

This $28K Pixelated Avocado Could Add to Bitcoin’s Raging Censorship Debate

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“Elegantly weaving the nuanced tapestry of Bitcoin’s history, culture and core technicalities, each unique, pixelated, and hand-crafted piece forms part of a masterful, yet playful guide to the revolutionary realm,” the Sotheby’s description reads. “Shroomtoshi created a standalone digital art collection that captures the cryptocurrency zeitgeist through nostalgic and hyper-referential modes.” Original

Binance says decision to pull Abu Dhabi licensing bid unrelated to US settlement

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Cryptocurrency exchange Binance’s unit in Abu Dhabi has pulled an application with the Emirate’s financial regulator, a move it claims was unrelated to the firm’s November settlement with authorities in the United States. In a statement to Cointelegraph on Dec. 7, a Binance spokesperson said the exchange had chosen not to move forward with an application with Abu Dhabi’s Financial Services Regulatory Authority following an assessment of its “global licensing needs.” The agreement, withdrawn by BV Investment Management in November, would have allowed Binance to manage a collective investment fund. The…