As a result of the bear market, Ankex, a cryptocurrency exchange that was started by custody company Qredo and led by Michael Moro, the former CEO of Genesis Trading, has closed. Earlier this year, Moro became the head of Ankex, a trading platform that aimed to put elements of a central limit order book—a familiar
The cryptocurrency startup SafeMoon recently filed for Chapter 7 bankruptcy due to criminal charges against its executives in the United States. According to a filing in the Utah Bankruptcy Court, SafeMoon, which is connected to a token of the same name, has between 50 and 99 creditors, assets ranging from $10 million to $50 million,
Utilising wind turbines, homes and businesses can produce electricity by harnessing the power of the wind. These wind turbines can be used singly, serving one or a few businesses, or in clusters to form what is called a wind farm. Their usefulness and importance in influencing the future of energy are clarified in this article.
Following a recent event held in the Thames Pavilion, which is located in the House of Commons where lawmakers meet, U.K. Member of Parliament Natalie Elphicke urged the government to do more for blockchain. “It’s imperative that industry and policymakers collaborate to enhance comprehension and implementation of blockchain technologies. I want to see the U.K.
The partnership between Teylor, a fintech lending platform based in Zurich that specializes in the German SME market, and Taurus, a Swiss crypto custody firm supported by Deutsche Bank (DBK) adds to the growing trend of tokenized assets.Teylor’s credit portfolio tokens, which were supervised by the legal firm Allen and Overy, are eligible to trade on Taurus’ TDX platform for secondary market transactions, the firms announced on Thursday. Lamine Brahimi, a co-founder of Taurus, claims that the tokenization procedure is consistent with European and Swiss rules and uses an investment vehicle established in Luxembourg.In the next two weeks, certain institutional investors will make “landmark” investments in the tokenized debt product for the German SME sector, according to Brahimi, who made this announcement in an interview. “TDX market is Taurus’ other business besides custody, and we have done 20-plus transactions,” Brahimi said. “These include tokenized equity, debt, structural products and art. In terms of notional value, it’s over $1 billion so far.” It is hardly unexpected that crypto-friendly Switzerland is treating a variety of asset classes to institutional-grade blockchain technology given the explosive growth of tokenization in traditional banking worldwide. Investors like U.K. bank Barclays (BARC) support Teylor, which provides loans to Germany’s thriving Mittelstand economy ranging from 100,000 euros ($109,000) to 1.5 million euros ($1.6 million).According to CEO Patrick Stäuble’s statement in an interview, the fintech company provided loans totaling slightly under $25 million last month. “We give loans to businesses that make usually between five and 50 million revenues, that
Using Nasdaq’s technology, Rulematch is a recently launched cryptocurrency exchange for banks in Switzerland. Seven banks and major securities firms are on board, including Banco Bilbao Vizcaya Argentaria (BBVA), one of Spain’s pioneers in digital assets. Using crypto custody technology from bank-friendly Metaco in Switzerland and Nasdaq’s pre-trade risk checks, trade matching, and market surveillance capabilities, Rulematch will provide bitcoin (BTC) and ether (ETH) spot trading against the dollar to a limited group of institutional participants. Following incidents such as the demise of the cryptocurrency exchange FTX in the previous year, institutional interest in trading cryptocurrencies is being directly met by formalized methods that closely resemble traditional finance, emphasizing separated functionality and strict adherence to market legislation.An anonymous central limit order book with 30 microsecond execution timings and integrated post-trade settlement with multilateral clearance are just two of the features that Rulematch promises to provide businesses the institutional feel they are used to.German Bankhaus Scheich Wertpapierspezialist and other approved market makers ensure upfront liquidity. “The crypto spot market is really dominated by players which do not really fulfill the very high requirements of a regulated participant,” CEO David Riegelnig said in an interview. “Primarily, the mix of functions that so-called crypto exchanges typically do, which makes them much more of a broker than actual exchange, was
In light of Coinbase’s recent rise to a 20-month high, ARK Invest, the investment firm owned by Cathie Wood, offloaded a sizable portion of the company. Based on Coinbase’s most recent close of $150.46, ARK sold 283,104 shares for $42.59 million, depleting holdings from its exchange-traded funds (ETFs), ARK Innovation (ARKK) and ARK Next Generation
The company behind the Cronos blockchain, Cronos Labs, announced on Thursday the opening of a new layer-2 network, adding to the increasing number of secondary projects that have chosen to construct their own networks in addition to the main Ethereum ecosystem. The new “Cronos zkEVM chain” is based on software tools from Matter Labs that
The Wall Street behemoth JPMorgan (JPM) stated that it is cautious about the cryptocurrency markets through 2024, but that it expects an upgrade to the Ethereum blockchain that will increase its scalability to propel ether (ETH) above bitcoin (BTC) and other cryptocurrencies. According to a recent report, the U.S. Securities and Exchange Commission’s (SEC) decision
Following the success of Series 1 of its “BASIC” notes, which were intended to capitalize on the rising price of bitcoin mining rigs, Blockstream is making a comeback to the market with Series 2.The September Blockstream ASIC (BASIC) note Series 1 raised $5.075 million for the bitcoin infrastructure company, of which $4.876 million will be used to purchase Antminer S19k Pro ASIC mining equipment. A Blockstream representative stated that the Series 2 target has not yet been revealed.According to an email message on Wednesday, Blockstream wants to take advantage of “historically low prices” for mining hardware in advance of the 2024 bitcoin halving.Designed to profit from the price increase of ASIC mining equipment that Blockstream believes will occur after the halving, BASIC is an investment vehicle denominated in bitcoin. A pitch for the notes describes the investment strategy like this: “Leveraging Blockstream’s long track record, leading market position, substantial scale, broad expertise and strong relationships across the ASIC supply chain, the BASIC structure plans to acquire and warehouse new and unused ASICs at attractive prices, and to eventually strategically sell them back
After more than $200 million was stolen from both HTX and Poloniex last month in a cyberattack, cryptocurrency tycoon Justin Sun declared that money housed on those exchanges were “100% safe.”While withdrawals for some assets are now possible on both exchanges, numerous altcoins are still locked.The two digital assets that might be withdrawn are Bitcoin (BTC) and Tron (TRX). As a result, throughout the past few weeks, both tokens have been trading at a premium on Poloniex, requiring users to accept a 10% haircut in order to liquidate one asset and withdraw another. Following the theft of $114 million from Poloniex’s hot wallets on November 10, as well as the theft of $97 million from HTX and the blockchain system Heco Chain, the withdrawal freeze was implemented. “Right now, Poloniex and HTX have recovered from the hack, and we are resuming the tokens one by one,” Justin Sun, an investor in Poloniex and an advisor for HTX, told CoinDesk. “I think for HTX, we have already resumed 95% in terms of USD worth of assets. On Poloniex, we have resumed
Enterprise-level blockchain technologyIn 2024, Coti plans to migrate into a layer-2 protocol on Ethereum that is scalable and privacy-focused. Coti will become an Ethereum layer-2 protocol in order to expand its privacy features throughout the ecosystem, according to a statement shared with Cointelegraph.Transactions can be completed using the garbled circuits cryptography technique found in Coti V2s without disclosing private information.Garbling protocols, which originated in the field of multi-party computing (MPC), allow two or more participants to collaborate on the computation of a function while maintaining the privacy of their inputs and intermediate variables. Since its introduction in the 1980s, the method has grown to be indispensable to privacy-preserving systems.The main benefit of the technology is that it permits multi-party computation while maintaining the privacy of individual input.When sensitive data needs to be included in a calculation without disclosing the information itself, garbling protocols come in handy. Shahaf Bar-Geffen, CEO of Coti, describes how the protocol keeps private information from being disclosed to rivals, partners, and customers using its chain. “Sensitive data transmitted as public information on a blockchain is a bug, not a feature. This isn’t tolerated in legacy business systems, so why should it be tolerated on-chain?” According to Bar-Geffen, garbling protocols provide a special method in the framework of Coti V2 by facilitating exchanges and the execution of smart contracts in which the specifics are kept confidential between the parties involved. “This level of privacy is particularly important in decentralized finance applications where transaction confidentiality can be as critical as transaction integrity.”
According to Bloomberg on Wednesday, Su Zhu, a co-founder of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC), was questioned for the first time in a Singaporean court as liquidators looked for information to help them recover assets. According to people familiar with the situation who spoke with Bloomberg, Zhu was obliged to provide
The shares of Coinbase (COIN) remained stable within 5% of the year’s peak, so Cathie Wood’s investment management company, ARK Invest, sold the stock for the third day in a row. At Tuesday’s closing price, the company sold off 82,255 shares, or roughly $11.5 million, from the exchange-traded funds (ETFs) ARK Innovation (ARKK), ARK Next
The chief executive officer of Wall Street brokerage Cantor Fitzgerald, Howard Lutnick, has two favourite cryptocurrencies: Tether (USDT) and Bitcoin (BTC). “I am an enthusiast of cryptocurrency, specifically bitcoin, to be precise. In an interview with CNBC’s Money Movers podcast, he stated, “These other coins are just not a thing.” Given that Cantor Fitzgerald is
As part of the newly announced “Devonomics” initiative, developers would get approximately $3.5 million of network fees, according to a joint announcement made on Tuesday by the Starknet Foundation and StarkWare, the developer company behind Starknet, a layer-2 blockchain running on Ethereum.In order to sustain the Starknet ecosystem, a press statement states that roughly 10% of the network fees from the project’s inception until November 30th, or about 1,600 ETH, will be dispersed.Distributions in the future will happen in STRK, the Starknet blockchain’s native governance token, over time.Right now, developers of Starknet core will receive 2% of the fees, with 8% going to those who create “dApps,” or decentralized apps. The statement follows last week’s revelation by the Starknet Foundation of preparations for a potential 1.8 billion STRK token airdrop; however, a Starkware spokesman confirmed that the tokens from Devonomics are unrelated to the earlier disclosure. “Since Day 1, devs have brought Starknet to life and their work is generating the network’s fees,” StarkWare co-founder and CEO Uri Kolodny said in a press release. “Allocating a portion of the fees back to dApp builders – provisionally set at 8% – will enable them to do more to make the
The Supreme Court of the State of New York County received court documents from cryptocurrency exchange KuCoin on Tuesday, which revealed the exchange had agreed to pay a total of $22 million and stop providing access to users in the state.To settle allegations that it broke securities laws by offering tokens, including ether, that fit the definition of a security without registering with the attorney general’s office, Kucoin will return $16.77 million to New York customers and pay $5.3 million to the state attorney general of New York. The lawsuit was brought in March by Attorney General of the State of New York Letitia James, marking the first time a regulator had asserted in court that ether constituted a security. “I want to update all of you about our latest compliance action. @kucoincom has reached a settlement with the New York Attorney General (NYAG), solidifying our commitment to compliant operations,” KuCon CEO Johnny Lyu said in a tweet. According to the document, KuCoin must shut down relevant accounts and stop access to its services for users in New York no later than 120 days following the order’s effective date.
A modification to the structure of BlackRock’s suggested spot bitcoin (BTC) exchange-traded fund (ETF) allows Wall Street banks—which are subject to regulations regarding cryptocurrency ownership—to take center stage.Authorized participants, who are an essential component of the ETF ecosystem, can now create new fund shares using cash instead of just cryptocurrencies according to a recent change made by BlackRock. Because heavily regulated U.S. banks aren’t allowed to store bitcoin directly, this arrangement would allow companies like JPMorgan or Goldman Sachs, who have some of the world’s largest balance sheets, to serve as APs for BlackRock’s ETF.(It is up for debate if they wish to.)A note filed in connection with a meeting between the U.S. Securities and Exchange Commission, BlackRock, and Nasdaq on November 28 states that the cash that asset managers (APs) utilize in this procedure can subsequently be converted into bitcoin by a middleman and held by the ETF’s custody provider. The likelihood that the SEC will soon allow spot bitcoin exchange-traded funds (ETFs) has increased. If this approval attracts a large influx of capital from individual investors, it might revolutionize the digital assets market.Before today, the general consensus was that APs would be big, experienced market-making companies with a focus on cryptocurrency, like Virtu, Jump Trading, and Jane Street, rather than banks.However, the move could allow banks to expand their share of the market and give more liquidity providers. “If the SEC accepts this revised, dual model of create and redeem with cash and physical, that means the liquidity that supports the ETF shares when they trade would be increased, because obviously, you have more potential APs as part of the process,” CF Benchmarks CEO Sui Chung said in an interview.
Blockchain is a revolutionary technology that is about to completely transform the global economy. The blockchain technology is a peer-to-peer distributed ledger that generates a chain of data by encrypting and storing data on subsequent blocks that link to the earlier blocks in chronological sequence. Blockchain technology is designed to store data about agreements between
The largest sale in over a year occurred on recently when Cathie Wood’s ARK Invest sold about $12.85 million worth of shares in Grayscale Bitcoin Trust (GBTC) from its Next Generation Internet (ARKW) exchange-traded fund (ETF). With 395,945 GBTC shares offloaded from ARKW, the fund now has roughly $112.7 million worth of GBTC, or 6.95%
According to a post made on Tuesday by the nation’s Bitcoin-focused office, El Salvador’s long-planned Bitcoin bonds have gotten a little bit closer to reality after seemingly obtaining regulatory approval for an early 2024 issuance. The bonds will be made available on Bitfinex Securities, a regulated branch of Bitfinex, a cryptocurrency exchange. The National Bitcoin
According to an announcement from China’s national-level blockchain initiative, the Blockchain-based Service Network (BSN), blockchain technology will be used to verify the real-name identities of the country’s 1.4 billion citizens. This move is likely to raise concerns among proponents of data privacy. With assistance from BSN, the RealDID initiative was led by China’s Ministry of
Since consumers are looking for more convenient ways to find the best games that utilise the newest technology, the global online gaming market has experienced significant growth. Due to the increasing adoption of high-speed internet access and the rapid advancement of technology, gaming companies are incorporating cutting-edge technology into their platforms to differentiate themselves in
The Financial Services Commission (FSC) of South Korea announced on Monday that it has suggested regulations aimed at safeguarding virtual asset services providers’ (VASPs’) clientele.On July 19, 2024, the regulations—which are based on the Virtual Asset User Protection Act that was passed earlier this year—are supposed to go into force.Comments from the general public are welcome until January 22.The Act outlines what constitutes a digital asset and establishes legal justifications for fines and criminal penalties “to punish unfair trading activities using virtual assets.”Additionally, VASPs, or exchanges, must keep an eye on unusual transactions and notify the FSC as needed. In recent months, South Korea’s efforts to regulate the cryptocurrency industry have increased.The FSC published draft regulations in July requiring businesses to reveal whether they possess or own cryptocurrency beginning in 2019.VASPs will have to reimburse clients for using their deposits as a result of the new regulations.Banks that receive asset storage from exchanges are permitted to use the deposits to purchase secure assets like government bonds. In accordance with the regulations, exchanges must hold at least 80% of consumer deposits in cold wallets.A cold wallet is a cryptocurrency wallet that is less susceptible to hackers since it is not always online. Digital currencies issued by central banks (CBDCs) and non-fungible tokens (NFTs) are not covered by the Act.
In its biggest transaction since July, Cathie Wood’s ARK Invest sold an additional 335,860 shares of Coinbase (COIN), a cryptocurrency exchange.In three exchange-traded funds (ETFs), ARK offloaded shares of COIN.ARKK, the Innovation ETF, provided the majority.At the closing price on Coinbase, the deal would have brought in $49.2 million.. During the past few weeks, while bitcoin has been rising, the investment manager based in St. Petersburg, Florida, has been selling Coinbase stock on a regular basis.It sold 480,000 shares for $50.5 million back in July, making this Friday’s the largest since then. For each of its ETFs, ARK sets a target weighting that keeps the weightings of the individual composite holdings between 2% and 10% of the fund’s value, respectively.The COIN stock has been comfortably above 10% in each of the three ETFs due to its recent run, which has seen it hit highs not seen since April 2022.ARKK, the Next Generation ETF (ARKW), and the Fintech Innovation ETF (ARKF) comprise more than 11%, 13%, and 11%, respectively, of COIN, despite the sale. With a daily gain of 7.66%, COIN finished at $146.62 on Friday.Additionally, for almost $3.6 million, ARK sold 102,672 shares of Grayscale Bitcoin Trust (GBTC).8.33% of ARKW is comprised of GBTC.
Decentralized transactionIn an effort to improve the decentralized finance (DeFi) environment on the biggest blockchain in the world, Uniswap extended to the Rootstock sidechain of Bitcoin.As per the email statement received with CoinDesk on Monday, GFX Labs, the startup behind trading terminal Oku, has released Uniswap version 3 (v3) on Rootstock.The project, which was initially intended for Ethereum, has reportedly also been implemented on the Ethereum layer-2 networks Arbitrum, Optimism, and Polygon, according to Uniswap’s website. Rootstock will receive trading tools from Oku that include position management for liquidity providers, limit orders, and analytics. The crypto sector may see increased DeFi use cases and greater liquidity as Uniswap, an Ethereum-based smart contract platform, combines the security of the Bitcoin proof-of-work network with its capabilities. “Rootstock’s combination of Bitcoin’s security and Ethereum’s smart contract capabilities, now augmented with Uniswap v3, introduces a new dimension of on-chain swaps, liquidity depth and yield opportunities on Bitcoin’s network,” according to the press release. The emergence of BRC-20, a token standard that permits the issue of tokens and, consequently, the use of DeFi apps on Bitcoin, prompted developers to implement Uniswap smart contracts on the network in May.This year has witnessed the introduction of non-fungible tokens (NFTs) to the largest blockchain in the world through the Ordinals protocol, one of the blockchain networks’ components most frequently linked to Ethereum and others finding their way to Bitcoin.Additionally, there are attempts to integrate Ethereum-style smart contracts with Bitcoin.
The Federal Reserve’s first interest rate cut is expected to occur in the third quarter of 2024, rather than the fourth, as previously predicted by investment banking behemoth Goldman Sachs, according to a Friday, Reuters story. The change occurs as the 10-year U.S. Treasury yield, or the so-called risk-free rate, has declined, a bullish combination
According to the Australian Financial Review, Australian venture firms and cryptocurrency groups have met with C1, a venture capital firm led by former executives of Coinbase. C1 offers to use its $500 million ($AUD 760 million) fund to purchase private holdings from investors. Animoca Brands, a venture capital firm specialising in gaming and metaverse, and
The companies announced on Monday that Conio, a cryptocurrency wallet company that is partially owned by Poste Italiane and Banca Generali, has partnered with Coinbase (COIN) to offer a variety of digital assets to Italian banks and financial institutions. With more than 400,000 users, Conio and Coinbase Prime are working together to offer liquidity to
Concerns regarding the growing number of scam tokens that target Dogecoin community members specifically have been voiced by a well-known figure in the community. An enthusiastic Dogecoin fan named Mishaboar claims that a number of “pump and dump” scam coins have recently targeted the community in an attempt to profit from Dogecoin’s rising popularity. These
