Despite some touting crypto as a hedge against traditional markets, digital assets today share a similar risk profile to commodities such as oil and gas, and tech and pharmaceutical stocks, according to analysis from Coinbase’s chief economist. The observation comes from a blog post from Coinbase chief economist Cesare Fracassi on July 6, noting that …
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HodlX Guest Post Submit Your Post Web 3.0 is a decentralized internet that involves the use of decentralized protocols deployed on blockchain and executed by virtual machines. These decentralized applications are called smart contracts. The use of Web 3.0 is vastly associated with money in the form of cryptocurrencies through the DeFi and NFT markets. …
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A note published by the United States Federal Reserve on a recently held conference found a majority of exports believe a U.S. dollar central bank digital currency (CBDC) would not drastically change the global currency ecosystem. Panelists at the conference also agreed CBDC development outside of the U.S. doesn’t threaten the status of the dollar, …
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Given his track record, some in the crypto community believe the market bottom may now be in after CNBC host Jim Cramer said there was “no real value in crypto” and predicted the market would tumble further. Cramer is known for giving his investment expertise as the host of CNBC’s Mad Money, but has developed …
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A new strain of crypto-malware is being spread via YouTube, tricking users to download software that’s designed to steal data from 30 crypto wallets and crypto-browser extensions. Cyber intelligence company Cyble in a June 30 blog post said it had been tracking the malware known as “PennyWise” — likely named after the monster in Stephen …
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A survey conducted by crypto exchanges WazirX and Zebpay found that 83% of traders believe India’s 30% tax on all cryptocurrency and non-fungible token (NFT) transfers has impacted their trading frequency. The survey shared with CryptoSlate included 9,500 respondents who had actively traded between January 1 and April 15, 2022. The respondents were divided into …
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Citizens of Argentina are hedging their savings by using stablecoins amidst the recent climate of uncertainty created by the resignation of certain key members of the government. The minister of economy in the country resigned last weekend, alongside other personalities, creating the turmoil that prompted the price of stablecoins in the country to rise by …
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The Monetary Authority of Singapore (MAS) has told Parliament that the central bank is considering imposing additional restrictions on cryptocurrency trading. They include “placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.” MAS Considers New Restrictions on Crypto Trading Tharman Shanmugaratnam, the minister in charge of the Monetary …
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A hacker claims to have stolen the personal data of a billion Chinese citizens from the Shanghai National Police (SHGA) and is selling it for 10 bitcoins. “This database contains many TB of data and information on billions of Chinese citizens.” 23 Terabytes of Data on a Billion Chinese Citizens on Sale for 10 Bitcoins …
Cryptocurrency activities have been high in countries like Argentina, which are facing high inflation. The level of uncertainty over the country’s economic future seems to have increased after the resignation of the country’s Minister of Economy, Martin Guzman. The resignation saw crypto trading activities skyrocket. Crypto trading in Argentina rises Cryptocurrencies have provided a safe …
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The Monetary Authority of Singapore (MAS) is considering restricting retail traders from cryptocurrencies. The head minister at the MAS, Tharman Shanmugaratnam, said that the regulator would implement new consumer safeguards targeting crypto investments. Singapore regulator could add more restrictions on crypto The minister released a statement on Monday in response to a lawmaker, Murali Pillai, …
The cryptocurrency market has been filled with speculations about the depegging of several stablecoins. Circle’s USDC stablecoin, the world’s second-largest stablecoin by market cap, has displayed a healthy performance during the current bear market. However, rumors on crypto Twitter have claimed that Circle is on the verge of collapsing due to exposure to troubled firms. …
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Crypto Twitter has been filled with rumors about the KuCoin exchange facing insolvency. These rumors have affected the price of KuCoin’s native token, KCS, which has been down by 15.6% during the past week. The market is reacting to these rumors because of the recent events in the market. Several cryptocurrency exchanges such as Celsius, …
MakerDAO is voting on a proposal that will bring a traditional bank into its ecosystem for the first time, allowing the bank to borrow against its assets using decentralized finance (DeFi). Currently 83% of voters are in favor of the proposal. Voting ends at 12pm ET on July 7. The proposal involves creating a vault …
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Bitcoin Risks Further Decline as It Struggles Below 21K – July 5, 2022 On July 5, Bitcoin’s (BTC) price rallied above the psychological price level as it struggles below $21K. The bulls broke the resistance at $19,900 as Bitcoin rallied to the high of $20.800. The bullish momentum has been repelled at the recent high …
