Data shows the Bitcoin funding rate has increased to a relatively high positive value recently, something that could lead to a long squeeze in the market. Bitcoin Funding Rate Becomes Positive As Open Interest Rises Up As pointed out by an analyst in a CryptoQuant post, the BTC funding rate has a positive value at …
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Cardano has been lagging behind the current bullish momentum in the altcoin market. While Ethereum (ETH), Solana (SOL), and XRP trend to the upside in the last 24 hours, ADA’s price continues to move sideways. Related Reading | JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price At the time of writing, …
Circle has provided full disclosure of the reserves backing the USDC stablecoin. This is the first time that the stablecoin issuer is providing this disclosure. The move seeks to boost transparency and ensure that investors have more trust in the coin, given the debacle that has happened with several stablecoins over the past few months. …
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The Terra algorithmic stablecoin TerraUSD (UST) collapsed in May, causing billions of dollars worth of losses for investors. The collapse lowered investor confidence in algorithmic stablecoins, but the CEO of the world’s largest exchange, Binance, has a different opinion. Changpeng Zhao said that algorithmic stablecoins still had a position in the crypto space. Binance CEO …
Ethereum has finalized one of the last testing stages for the Merge. The ninth shadow fork was launched on the network 15 hours ahead of schedule. The Ethereum Merge is slated to happen later this year, and it will switch the network from proof-of-work to proof-of-stake. Ethereum unveils ninth shadow fork Shadow forks are different …
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CoinShares, a leading investment firm based in Europe, has launched a new physically backed exchange-traded product (ETP). The Algorand ETP will join other staked ETP products such as Cardano, Solana, Polkadot, Polygon, Tezos, and Cosmos. CoinShares launches an ALGO ETP A press release from the company said that this ETP would be launched on Xetra, …
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The Walt Disney Company is announcing plans to support a surging crypto project through its new accelerator program. Polygon (MATIC) is one of six participants in the 2022 Disney Accelerator class, which will focus, in part, on non-fungible token (NFT) development. “This year’s Disney Accelerator class is focused on building the future of immersive experiences …
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Stablecoin issuer Circle is unveiling a full breakdown of its USD Coin (USDC) reserves as part of its commitment to increase transparency. According to a new company blog post, Circle is issuing its first ever monthly breakdown of USDC reserve assets to demonstrate the stablecoin’s full backing and peg to the US Dollar. “Today we …
In the world of crypto, there’s no such thing as “too big to fail.” Three Arrows Capital, once the most recognizable hedge fund in the industry, has essentially gone belly-up after its founders believed their own hype and decided to go full-degen mode during the worst macro climate of a generation. Since the proverbial shit …
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Allison Herren Lee, one of five members of the United States Securities and Exchange Commission’s board, has officially left the regulatory body after more than three years as a commissioner. In a Friday announcement, chair Gary Gensler and commissioners Hester Peirce, Mark Uyeda, and Caroline Crenshaw said Lee had left the SEC, where in 2005 …
It’s weird to think that anyone could look forward to downturns in the crypto market, but that is precisely the position held by many developers and project creators who enjoy the low-pressure environment that exists during a bear market. As the saying goes, bear markets are for building, and now is one of the best …
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Democratic legislators from both houses of the United States Congress have sent a letter to the Environmental Protection Agency (EPA) and Energy Department (DOE) to inform them of their findings on the energy consumption of cryptocurrency mining and asking the agencies to require mining to report their emissions and energy use. Meanwhile, the Paraguayan Senate, …
Red Hare, one of the leading non-fungible token (NFT) analytic firms, has successfully partnered with Hong Kong-based BOA Financial Group (BOAFG) to explore business opportunities in the NFT space. In a July 15 press release, the NFT analytic firm confirmed the successful partnership with BOA Financial Group. Under the new integration, Red Hare Analytics anticipates …
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The High Court of Singapore granted interim relief to the liquidators of Three Arrows Capital (3AC) on July 15 to investigate and preserve the assets of the insolvent crypto hedge fund in the city-state, The Straits Times reported. Two employees of New York-based financial advisory firm Teneo were appointed by the British Virgin Islands (BVI) …
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The Securities and Exchange Commission (SEC) chairman Gary Gensler said the commission might tailor securities laws for crypto companies to comply. In an interview with Yahoo Finance on July 14, Gensler said the commission has “exemptive authorities” to tailor its investor protection and disclosure laws. Gensler continued that several crypto companies have been non-compliant in …
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