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Day: April 24, 2024
Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months
Worldcoin (WLD) could be the victim of a significant downtrend in the coming weeks. The team plans to sell as many as 1.5 million WLD tokens over the next six months, which could bring about massive selling pressure and affect the token’s price. Details About The Proposed WLD Token Sale Worldcoin revealed in a blog post that World Assets (a subsidiary of the Worldcoin Foundation) will sell between 500,000 and 1.5 million Worldcoin tokens weekly to a group of institutional trading firms outside the United States. This token sale will…
The Inevitable Shift to On-Chain Integration
Currently, on-chain RWAs represent a $7.5 billion market. While this might seem marginal relative to the tens of trillions of dollars worth of assets managed traditionally, the pace of growth and the increasing range of assets being tokenized — including treasuries, commodities, private equity, real estate, private credit, and others — suggest a tipping point. A 2022 Boston Consulting Group report estimated that the market for tokenized assets could grow to $16 trillion by 2030, which would greatly enable DeFi protocols catering to these assets to develop entire new financial…
Former Binance Boss CZ Apologizes, Accepts Responsibility Ahead of Sentencing
Changpeng Zhao, the former CEO of Binance, has publicly apologized for his past decisions and accepted full responsibility for his actions. This comes as U.S. prosecutors are seeking a 36-month prison sentence for Zhao in connection with compliance failures at the cryptocurrency exchange. Changpeng Zhao Issues Apology as Sentencing Nears In a letter to the […] Source CryptoX Portal
Tether’s (USDT) Stablecoin Dominance May Wane Following Proposed U.S. Regulation: S&P
“An approval of the stablecoin bill would accelerate institutional blockchain innovation, in particular for tokenization or digital bond issuances involving on-chain payments,” O’Neill said, adding that the “growth of institutional use cases for stablecoins would create opportunities for banks as stablecoin issuers and may also reduce tether’s dominance in the global stablecoin market.” S&P said that USDT is issued by a non-U.S. entity and therefore is not a permitted payment stablecoin under the proposed bill. This means that U.S. entities can’t hold or transact in it, which could reduce USDT’s…
ICO statement on Upper Tribunal ruling
The Upper Tribunal has ruled on the our action to require Experian Limited to change how it handles people’s personal data, dismissing our appeal of the First-tier Tribunal’s ruling of 20 February 2023. The First-Tier Tribunal (Information Rights) has previously ruled on our action to require Experian Limited to change how it handles people’s personal data. The Judgment supported aspects of our decision, while allowing Experian’s appeal in other areas. Stephen Bonner, ICO Deputy Commissioner, says: “The credit reference agency industry holds data on almost every adult in the UK.…
Bitcoin’s issuance rate sinks lower than gold’s after fourth halving
Bitcoin’s fourth halving event has drawn significant attention to its comparison with gold regarding scarcity, as highlighted by Glassnode analysts. According to Glassnode, this event marked a historic moment where Bitcoin’s (BTC) issuance rate fell below that of gold for the first time, emphasizing a pivotal shift in the narrative surrounding the two assets. As reported, the halving event on Saturday reduced block subsidies, with the issuance dropping from 6.25 BTC to 3.125 BTC per block. This translates to an issuance of approximately 450 bitcoin per day, further underlining the…
Capital inflows into spot Bitcoin ETFs total $31m
On April 23, net daily capital inflows into spot Bitcoin ETFs totaled $31.64 million. According to SoSo Value, despite the decrease in asset inflows from $62 million on April 22 to $31 million on April 23, a positive trend has continued for the third trading day. During this period, Bitcoin funds received $153.29 million from inflows. Source: SoSo Value A day earlier, BlackRock‘s iShares Bitcoin Trust (IBIT) crypto fund took first place in capital inflow. It added $37.92 million to its balance sheet, bringing funds under management to $15.48 billion.…
Analysts Identify Key Scenario For Bitcoin Hitting $100,000
Prior to the Bitcoin Halving event, BTC’s price saw considerable instability, but it has since rebounded, reaching the $66,000 level, triggering bullish predictions from top crypto analysts regarding the coin’s future path. Captain Faibik, a crytocurrency analyst and trader, has emerged with an intriguing prediction, underscoring a narrative that could potentially propel the price of Bitcoin to the coveted $100,000 mark in the upcoming months. Bitcoin Poised For A Notable Rally To $100,000 According to Captain Faibik, Bitcoin has managed to hold the $60,000 support level in the wake of…
Jack Dorsey’s Block Completes Bitcoin Mining Chip, Will Build Full Mining System
Although chip efficiency has rapidly improved in recent years as demand for bitcoin has picked up, the latest halving event on April 20, which cut the issuance of new bitcoin by 50%, adds even more importance for faster mining speed, as well as lower costs and enhances reliability, Butterfill said. Source