Key takeawaysBinance has opened a regional hub in Georgia as it expands its global reach.The crypto exchange seeks to ramp up talent acquisition, promote blockchain education, and accelerate crypto adoption in the region.Binance has been active in the Georgian crypto space in recent months. Binance expands its global reachBinance, the world’s largest cryptocurrency exchange by trading volume, announced on Monday, March 27th, that it had opened a regional hub in Georgio.This latest cryptocurrency news comes as the cryptocurrency exchange continues to expand its presence globally. According to the cryptocurrency exchange, the hub would be dedicated to ramping up talent acquisition, promoting blockchain education, and accelerating crypto adoption in the region. Binance’s Georgian division currently has 25 employees. The hub is working with the local public and private sectors to organise educational and hackathon events. Binance said it expects to create dozens more jobs in the region before the end of the year. While commenting on this latest development, Binance’s Georgia general manager Giorgi Chagelishvili, said;“The opening of the hub in Georgia is a logical continuation of the dialogue that we started with the government last year. Thanks to the hub, we will strengthen the development of the recruiting program in the country, as well as make an even greater focus on the regional presence of Binance.”Binance’s regional director Vladimir Smerkis pointed out that Georgia is one of the most innovative countries in the region. Georgia has also become a serious leader in terms of the level of cryptocurrency adoption. Binance signed an MoU with GeorgiaIn November 2022, Binance’s CEO Changpeng Zhao (CZ) visited Georgia for the first time. During the visit, CZ met with Prime Minister Irakli Garibashvili and the local business and crypto communities.In February 2023, Binance signed a memorandum of understanding (MoU) with the Agency for Innovation and Technology of Georgia (GITA). The two groups would work together on blockchain-related educational and community projects, as well as the growth of the cryptocurrency industry in the country as a whole.Smerkis added that Binance now has a physical location in Georgia and is working on the legal side of the opening of the hub. The Georgian government is working to make the country a major global cryptocurrency hub. The country is currently hosting numerous Bitcoin ATMs, making it easier for users to convert cryptocurrencies into cash and vice versa. The post Binance launches new regional hub in Georgia appeared first on CoinJournal.

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MicroStrategy founder Michael Saylor announced the company had repaid the $205 million loan at a 22% discount.The company also bought 6,455 bitcoins worth $150 million.Saylor’s company currently holds more than 138,900 bitcoins.MicroStrategy, the world’s largest corporate holder of Bitcoin, has revealed it recently purchased more BTC. The business intelligence company, founded by Bitcoin bull Michael Saylor, also announced on Monday that it had repaid the loan to the failed crypto-friendly bank Silvergate Bank.MicroStrategy repays $250 million loan, buys 6,455 BTCSaylor, referencing his company’s latest SEC filing, said that MicroStrategy has now fully repaid the $205 million loan it borrowed from Silvergate in March 2022. The company reportedly cleared the loan principal with a 22% discount, with Friday’s payoff seeing MicroStrategy clear the collateralized loan at $160 million.As a result, the company recouped its 34,619 BTC that had been pledged as collateral.MicroStrategy also confirmed the purchase of 6,455 BTC, acquired for a total of $150 million and at an average $23,238 a coin. Saylor’s bitcoin strategy now includes a total Bitcoin haul of 138,955 BTC since the company’s first move in 2020. So far, the total BTC holdings have been acquired at a cost of $4.1 billion, with each bitcoin purchased at the average price of $29,817.MicroStrategy repaid its $205M Silvergate loan at a 22% discount. As of 3/23/23, $MSTR acquired an additional ~6,455 bitcoins for ~$150M at an average of ~$23,238 per #bitcoin & held ~138,955 BTC acquired for ~$4.14B at an average of ~$29,817 per bitcoin. https://t.co/ALp9VLkTpt— Michael Saylor⚡️ (@saylor) March 27, 2023Bitcoin currently trades around $27,809 while MicroStrategy shares closed at $256.67 on Friday and were 0.07% down at 9.10 am ET ahead of US markets opening on Monday.The post MicroStrategy buys another $150 million worth of Bitcoin appeared first on CoinJournal.

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<a href="https://coinjournal.net/bitcoin/">Bitcoin</a>, or cryptocurrency, is a digital currency introduced to the world in 2009 by a developer named  Satoshi Nakamoto. It operates digitally without the influence of any third party and is considered the safest transaction method for businesses. People can trade bitcoin conveniently through software specially designed for its trading. As stated by <a href="https://www.researchprospect.com/">Research Prospect</a>, the value of bitcoin has doubled since its inception. Similar to gold, it is a great way to keep your assets secure. Moreover, it is the most accessible currency, as anyone can buy or sell Bitcoin with a secure internet connection. ‘Satoshi’ is the smallest denomination of Bitcoin, named after its creator. How do Bitcoin transactions work?This Bitcoin transaction is commonly known as the blockchain. There is a nominal fee from Bitcoin whenever any person buys or sells any amount of bitcoin. There are three main kinds of transaction fees in cryptocurrency: Wallet FeeExchange FeeNetwork Fee The wallet fee is deducted whenever a person sends money from his <a href="https://coinjournal.net/wallets/">wallet</a> to another. The exchange fee is the one which is deducted after the completion of any order of transaction. The network fee is paid to the minors who provide these services to you. Coding plays a vital role in storing and transferring <a href="https://coinjournal.net/cryptocurrencies/">cryptocurrency</a> to other users. This fee is Bitcoin’s primary revenue source, just like any other business. Are Bitcoin transactions secure?Bitcoin uses hash algorithms to transfer any amount by providing a unique code that is hard to hack. It is the most secure method for currency exchange until now. However, many cyber-attacks have been made to disrupt the security wall of cryptocurrency. All the bitcoin transactions are saved in the network. It is advisable that you use different wallets for various types of transactions to keep a proper record. By doing so, others cannot access your other codes stored in the application. Always research the software or service you plan on using either for bitcoin mining or savings. How accessible is Bitcoin?Cryptocurrency is expanding globally. Everyone has the accessibility to bitcoin. Bitcoin is considered the most accessible currency globally as anyone with an astable internet connection and a cellular device can access it without discrimination of race, region, or gender. Cryptocurrency is redefining the role of banks by providing the lowest exchange rates, security, and accessibility worldwide. How to cash your BitcoinYou cannot cash bitcoin directly. For that, you will need to find a purchaser on the application that will buy your cryptocurrency and pay in the currency of your choice. By doing so, you can easily withdraw that amount. There can be restrictions, but such a transaction is generally completed within three days. If you do not want to sell your bitcoin, keep it in a USB drive wallet as it is the safest form of wallet from cyber-attacks or theft. How Bitcoin’s decentralised system works?According to an article published by <a href="https://essays.uk/">Essays UK</a>, a decentralised system doesn’t work with any third party. It has its users and their cellular devices as key players. Hence, bitcoin’s decentralised system gives each user autonomy. Unlike traditional banking systems, a decentralised system is excellent for the users’ autonomy as it ensures privacy and transactions can be carried out virtually. Making it hard for hackers to manipulate their systems. Moreover, a con that must be discussed here is that such decentralised systems are time-consuming. The user will have to wait a certain period to get the cash.  What are some pros of cryptocurrency?There are so many benefits of cryptocurrency compared to the traditional banking system. The following are some of the advantages of using cryptocurrency:Autonomy: It is the topmost principle of cryptocurrency. As mentioned…

Komodo is a leader in blockchain interoperability and atomic swap technology.It is the company behind the AtomicDEX app.Making AtomicDEX Mobile source code open-source makes it more trustless, secure, and interoperable.Komodo has announced that it is open-sourcing its AtomicDEX Mobile codebase in an effort to make the application more trustless, secure and interoperable.By making it open-source, the app will be freely available and can be modified and distributed by anyone.The AtomixDEX appAtomicDEX is a non-custodial cryptocurrency wallet, crypto bridge, and cross-chain decentralized exchange combined into one application that is available on three GUIs (AtpomicDEX Web, AtomicDEX Mobile, and AtomicDEX Desktop).AtomixDEX Mobile will be one among a few of the decentralized applications that are open source contrary to blockchain protocols like Ethereum, which are open source. It is also important to note that most mobile crypto wallets in the market today use closed-source source codes meaning end-users or third-party developers can’t change their source code.Komodo previously open-sourced AtomicDEX Desktop and the project now wants to create additional opportunities for developer collaboration and ecosystem expansion with AtomicDEX Mobile going open source.Why make AtomicDEX Mobile open source?Komodo wants to build technologies that anyone can use freely. Users will be able to verify for themselves in real-time that AtomicDEX is truly secure. Open-source developers can now also use the AtomicDEX API as well as the AtomicDEX Mobile codebase to create their own dApps that utilize AtomicDEX’s wallet feature and/or peer-to-peer (P2P) atomic swap technology for cross-chain trading.Commending about the move, Komodo CTO Kadan Stadelmann said:“This move allows us to prove that AtomicDEX is truly transparent, trustless, and secure. We’re setting a new industry standard now that AtomicDEX is one of the very few mobile crypto wallets on the market that is 100% open source. We challenge all other mobile crypto wallets to follow in our footsteps by going 100% open source.”Users can currently download the AtomicDEX Mobile on Google Play for Android users and TestFlight for iOS users. The post Komodo makes AtomicDEX Mobile 100% open source appeared first on CoinJournal.

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<strong>Toronto, Canada, 27th March, 2023, Chainwire</strong>Winkles & Flam™, the ‘Cosplaying Canadian Kitties™,’ are the First Original Cartoon Duo of the web3 space, launching exclusively on OpenSea DropsSphynx Ink Inc. comprises Oscar®-Nominated Filmmaker Adam Benzine (HBO’s Spectres of the Shoah) & BAFTA®-Winning Illustrator Dele Nuga (The BBC’s The Clangers)Non-PFP and non-generative, Winkles & Flam marks a radical new model for Digital Collectibles, with high-quality, hand-drawn illustrations & weekly/seasonal releasesThe first project to partner with Mint Foundry, the new Visual Metadata Editor from the team behind acclaimed ‘No Code’ NFT service Mintplex LabsCanadian art collective Sphynx Ink Inc. is partnering with OpenSea’s exclusive “Drops” platform to launch Winkles & Flam, a ground-breaking Digital Collectibles project introducing the first cartoon duo of the web3 space.Created by Oscar®-nominated filmmaker Adam Benzine and BAFTA®-winning illustrator Dele Nuga, Winkles & Flam – the ‘Cosplaying Canadian Kitties’ – are adorkable sibling Sphynx cats who dress up in homemade, video game-inspired outfits. A year in the works and featuring original, hand-drawn art, the project differs radically from current NFT projects. It is not a PFP (Profile Picture). Nor does it use generative elements.Launching April 3 with weekly content drops, rather than all at once, Winkles & Flam will run for five seasons, with sets of hand-drawn images comprising a mix of free mint, fixed-price and auctioned offerings. Each set draws inspiration from an iconic video game, with an educational component – Winklepedia™ – focusing on the history of video games.A <a href="opensea.io/collection/winklesandflam-seasonpass/drop">Season Pass</a> goes on sale today (March 27) exclusively via OpenSea Drops, limited to just 1,000 copies and guaranteeing buyers all 30 cards from Season 1.Winkles & Flam is the first major project to use Mintplex Lab’s cutting-edge, visual metadata editor Mint Foundry, which allows creators to edit and update information in real-time, without coding knowledge.Winkles & Flam Creator Adam Benzine says: “Winkles & Flam marks the start of ‘Phase 2’ of the Digital Collectibles space, focusing on original characters, narrative, quality and reliability, led by doxxed creators with a proven track record.“The market has grown tired of low-quality, rug-pull pump-n-dumps and vaguely conceived, cash-grab metaverses. A steady stream of garbage profile pictures has turned off consumers. It’s time for something fresh.”Winkles & Flam Co-Creator Dele Nuga adds: “We’re thrilled to partner with OpenSea Drops and grateful to the geniuses at Mintplex Labs for devising a solution for our unconventional release strategy. We believe Winkles & Flam will be the first of many projects to move to a character-based, weekly release strategy, focusing on personality, storytelling and community.”Season 1 of Winkles & Flam launches on April 3 and runs for 10 weeks, with weekly free mint cards (featuring Winkles) and fixed-priced cards (featuring Flam) released on Polygon. Winkles & Flam: Platinum cards (unique 1-of-1s featuring the duo together in playful scenarios) will be auctioned daily on Ethereum. Check out <a href="http://winklesandflam.com/">winklesandflam.com</a> for more info.(NOTE: Winkles is the pink kitty with blue eyes. Flam is the grey kitten with green eyes.)<a href="https://coinjournal.net/wp-content/uploads/2023/03/Winkles__Flam_Season_1_Promo_Image_2_1679333978XWMeuofdp2.jpg">Media</a><strong>About Sphynx Ink Inc.</strong>Founded by Oscar®-nominee ADAM BENZINE and BAFTA®-winner DELE NUGA, Sphynx Ink Inc. is the Toronto-based art collective behind WINKLES & FLAM™, The Cosplaying Canadian Kitties™!LinksWinkles & Flam on OpenSea Drops: <a href="https://opensea.io/collection/winklesandflam-seasonpass/drop">opensea.io/collection/winklesandflam-seasonpass/drop</a>Winkles & Flam Official Site: <a href="http://winklesandflam.com/">winklesandflam.com</a>Winkles & Flam LinkTree: <a href="http…

Polygon Labs has announced its Polygon zkEVM is now live.MATIC, the native Polygon token is trading 8% down this past week and 3% down in the past 24 hours.The technical outlook for MATIC on the daily chart suggets bears have an advantage.Polygon price remains just above $1.08, with the cryptocurrency poised near the critical $1.00 level amid a market lull for most altcoins.But while MATIC has shed about 8% of its value over the past week, there’s a sense of positivity hovering around the Ethereum scaling project. In particular, the community is reveling in the latest development involving Polygon – the launch of the blockchain protocol’s highly anticipated zero-knowledge based network zkEVM.Polygon zkEVM mainnet beta went live at 10 am EDT and saw Ethereum co-founder Vitalik Buterin perform “the symbolic first transaction” at 10.30 am. Polygon zkEVM, which has been in development since last year, not only offers more scalability but also brings cheaper transactions to users.The moment we’ve all been waiting for – Polygon #zkEVM Mainnet Beta is LIVE with @VitalikButerin performing the symbolic first transaction.👏🏿 Permissionless
👏🏾 Public
👏🏽 Fast finality
👏🏼 Leading EVM-equivalent zkEVM
👏🏻 Completely open-sourceMore 👇🏻https://t.co/Xo4mbhnASh— Polygon (labs) (@0xPolygonLabs) March 27, 2023The zkEVM launch has attracted over 50 projects from across the crypto ecosystem, including cryptocurrency, Web3 and blockchain gaming.Polygon price outlook as zkEVM launches on mainnetPolygon traded lower since price rejected around $1.25 on 18 March, with a double top formation coinciding with the latest dip to lows of $1.06.MediaPolygon price on the daily chart. Source: TradingViewThe technical outlook on the daily chart suggests bears have a slight advantage, with the daily Relative Strength Index (RSI) sloping below the middle band. The daily Moving Average Convergence Divergence (MACD) is also below the signal line.Bulls are likely to rely on the ascending trendline (green line), but if this breaks, MATIC/USD could retreat to horizontal support around $1.04. Further breakdown could push bulls to $0.93 and likely the main support zone near $0.75.MATIC price – will it explode higher after zKEVM launch?The broader crypto market is paring recent gains, with all the top 10 cryptocurrencies trading lower on Monday morning. The action contrasts with a positive open for US stocks as traditional financial markets bounce on fresh positivity after the sale of Silicon Valley Bank.While bears hold the advantage, MATIC price can ride a flip across crypto to test recent supply zones. This includes the price level marked by the 50-day exponential moving average, which currently provides an immediate supply wall near $1.14.If upside momentum surfaces, the short term outlook is where Polygon’s price retests $1.25 and possibly $1.55.The post Polygon price: MATIC poised as highly anticipated zkEVM goes live appeared first on CoinJournal.

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Gucci and Yuga Labs partner to bring Fashion NFTs to Otherside.The companies have entered a multi-year partnership as they explore the interconnection between Web3 and fashion.The BAYC floor price rose slightly following the news.Gucci, a leading high-end luxury fashion brand, is looking to continue its march into the world of NFTs and the metaverse with a new partnership with Yuga Labs. Gucci is one of numerous fashion brands to enter the NFTs space, while Yuga Labs is the creator of popular NFT project Bored Ape Yacht Club (BAYC).Gucci and Yuga Labs partner to explore Web3 and fashionAccording to a news report published on Monday by Business of Fashion, the Italian fashion giant will use the deal with Yuga Labs to explore the convergence between fashion, Web3 and entertainment. Gucci also noted via its official Twitter account that the collaboration targets “blurring the boundaries between the physical and the digital.”Continuing to explore the Metaverse, the House comes together with @yugalabs. Stay tuned as a new narrative takes shape, blurring the boundaries between the physical and digital. pic.twitter.com/v60mzcgqqY— gucci (@gucci) March 27, 2023With the multi-year partnership in place, Gucci is reportedly eyeing an “an active role” in Yuga Labs project Otherside and the 10KTF collection. Details of the collaboration indicate the luxury fashion house will begin its journey in the 10KTF this coming week, with the Otherside set to follow.The news of Gucci and Web3 leader Yuga Labs helped push the floor price of the BAYC NFT collection higher. At the time of writing, the NFTs floor price was up 1.2% in the past 24 hours – going for about 60.697 ETH, or $104,850.Yuga Labs was founded in 2021 and raised $450 million during its seed round in March 2022, with the company valued at $4 billion.The post Gucci partners with Yuga Labs to explore Web3 and fashion appeared first on CoinJournal.

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Investors put $160M into crypto investment products amid concerns around traditional finance.Bitcoin recorded the largest inflows of $128 million as a six-week streak of outflows ended.Digital assets manager CoinShares also says Solana, Polygon and EXP recorded inflows.Inflows into digital asset investment products totaled $160 million last week, with the latest market report from digital assets manager CoinShares showing the largest share of inflows went into Bitcoin.CoinShares’ Digital Asset Fund Flows Weekly Report published Monday 27 March also highlighted that crypto investment products had ended a six-week streak of outflows.Digital asset investment products saw largest inflows since July 2022According to CoinShares Head of Research James Buttefill, crypto investment products had recorded outflows totaling $408 million over the past six weeks. However, last week saw institutional investors put the most funds into crypto-related products for the sector to register its largest weekly inflow in eight months. The last time more institutional flows hit the crypto investment space was in July 2022.The inflows come a while after Bitcoin rallied to highs near $29,000, with prices of Ethereum and other altcoins also witnessing significant upsides. However, BTC has shed some of the gains and remains below $28k.Butterfill notes that inflows came “relatively late” compared to the rest of the crypto market, noting this is likely a reaction by investors to the recent chaos within the traditional financial markets.Bitcoin recorded $128 million in inflows, but Ethereum saw a 3rd week of outflowsBitcoin saw the most inflows last week, with $128 million poured into BTC investment products as some CoinShares clients expressed sentiment of BTC being a safe haven. However, Bitcoin also continued to attract negative sentiment, with short-bitcoin inflows hitting $31 million last week.Meanwhile, Ethereum recorded outflows for the third consecutive week, with $5.2 million exiting Ether investment products. CoinShares believes there are jitters around Ethereum’s highly anticipated network upgrade Shanghai, which is expected around 12 April.Among altcoins, the top three coins to see inflows were Solana ($4.8 million), Polygon ($1.9 million) and XRP ($1.2 million).The post Crypto saw $160 million in institutional inflows last week appeared first on CoinJournal.

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CFTC sued Binance for violating federal laws to attract U.S. clients.Mizuho’s Dan Dolev reiterates his $30 price target on Coinbase stock.He prefers Bitcoin over Coinbase Global Inc to play the crypto space.On Monday, Commodity Futures Trading Commission sued Binance for violating federal laws to attract U.S. clients.What does it mean for the Coinbase stock?Theoretically, that should be an opportunity for rival Coinbase Global Inc (NASDAQ: COIN) to expand its market share.Still, Dan Dolev – Senior Analyst at Mizuho recommends against investing in the crypto exchange. Explaining why on CNBC’s “Closing Bell: Overtime”, he said:What you’re seeing now is beginning of the real crackdown on crypto. If I owned any of these crypto names, I’d be really worried. I wouldn’t invest in any public exchange, including Coinbase.Last week, Coinbase also received a Wells notice from the Securities and Exchange Commission for violating U.S. securities laws. Coinbase stock ended nearly 10% down on Monday.Dolev prefers Bitcoin over Coinbase stockDolev currently has an “underperform” rating on the crypto exchange. His $30 price objective suggests its shares could tank another 50% from here.There’s no business model. If the government cracks down on altcoins and staking, that’s 35% of Coinbase revenue – on Ethereum, you’re adding another 20%-30%. Then, what are they left with?Nonetheless, Coinbase Global Inc reported better-than-expected results for its fourth financial quarter in February. It, however, ended Q4 with 8.3 million MTUs (monthly transacting users) versus 8.5 million a year ago.The Mizuho analyst prefers Bitcoin over Coinbase stock to play the crypto space.The post Dan Dolev’s view on Coinbase stock after CFTC sued Binance on Monday appeared first on CoinJournal.

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Disney had picked Polygon for the metaverse project.Disney was targeting NFTs for its next-generation storytelling and consumer experiences.The company is currently in the process of streamlining its business.Disney started developing a metaverse strategy in mid-2022 and announced that they would tap the Polygon blockchain for the project. Earlier in October 2021, Citi released a report saying that Disney, Electronic Arts, and WWE were set to become some of the biggest beneficiaries of non-fungible tokens (NFTs).The company further appeared to ramp up resource deployment by posting a job post for an expert in-house counsel for DeFi and NFTs in September 2022. The person Disney was looking to hire was required to be an experienced corporate attorney who would “work on transactions involving emerging technologies, including NFTs, blockchain, metaverse, and decentralized finance.”However, according to the Wall Street Journal, Disney’s metaverse plans appeared to be still unclear a year later.Streamlining businessDisney is currently in the process of laying off about 7,000 employees as it tries to control costs and develop what the CEO Bob Iger calls a “streamlined business.” The layoff will affect the 50 metaverse project employees.Disbanding the next-generation storytelling and consumer experiences shows Disney is questioning the continued value of Web3.The post Disney disbands its metaverse team amid large layoff appeared first on CoinJournal.

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Commodity Futures Trading Commission (CFTC) made a surprise lawsuit against Binance.The lawsuit has labelled Bitcoin, Ether, Binance USD, Tether and Litecoin as commodities.CFTC also made allegations of market manipulation and a lack of compliance efforts.Binance CEO Changpeng ‘CZ’ Zhao has rejected the allegations made by Commodity Futures Trading Commission (CFTC) against Binance and himself in the March 27 lawsuit.On March 27, the US CFTC issued a 74-page complaint labelling Bitcoin (BTC), Ethereum (ETH), Binance USD (BUSD), Litecoin (LTC), and Tether (USDT) as commodities and also accused Binance and Changpeng Zhao of market manipulation and lack of compliance.CFTC has also accused Binance of not cooperating with the investigative subpoenas while also obscuring the location of its executive offices.CZ calls CFTC’s claims incomplete recitation of factsBinance’s CEO published a blog post arguing that the cryptocurrency exchange:“Binance.com does not trade for profit or “manipulate” the market under any circumstances. Binance “trades” in a number of situations. Our revenues are in crypto. We do need to convert them from time-to-time to cover expenses in fiat or other crypto currencies. We have affiliates that provide liquidity for less liquid pairs. These affiliates are monitored specifically not to have large profits.”In the lawsuit, the CFTC has accused Binance of trading on its own platform using 300 “house accounts” without properly disclosing the information to its customers in its Terms of Use. The CFTC says that the exchange has instead kept the information as a “top secret” and even refused to respond to the commission-issued investigative subpoenas looking for information about the said trading activity.CZ also went ahead to disclose that he has two accounts with Binance: one for the card and one for crypto holding. He says in the blog post:“Personally, I have two accounts at Binance: one for Binance Card, one for my crypto holdings. I eat our own dog food and store my crypto on Binance.com. I also need to convert crypto from time-to-time to pay for my personal expenses or for the Card.”The post Binance’s CZ refutes CFTC’s claims of improper compliance procedures and trading appeared first on CoinJournal.

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BlockFi filed for Chapter 11 bankruptcy on November 28.Some Califonia users continued to repay their loans between November 11 and November 22Users were not notified until November 22 that they could stop repaying their Loans “until further notice.”California’s financial watchdog, the Department of Financial Protection and Innovation (DFPI), had previously suspended BlockFi’s lending license for 30 days from November 11, 2022, before later revoking BlockFi’s CFC license on December 15, 2022.BlockFi halted client withdrawals on November 2022 and requested clients to deposit funds to BlockFi wallets or Interest Accounts for lack of clarity around the FTX collapse. The crypto lender later voluntarily filed for Chapter 11 Bankruptcy on November 28, 2022, alongside its eight other subsidiaries.The DFPI claimed that BlockFi failed to “provide timely notification to borrowers that they could stop repaying their BlockFi loans.” The watchdog claims that the crypto lender did not notify borrowers until November 2022 that they could stop repaying their BlockFi loans “until further notice.”About 111 California BlockFi users to get refundedAccording to a statement issued by DFPI on March 27, investigations showed that at least 111 BlockFi borrowers from California continued paying their loans between November 11 and November 22, 2022. These borrowers paid back about $103,471 in loan repayments between the said periods.BlockFi requested permission from the bankruptcy court to return the payments to the borrowers in a motion filed on February 24, 2023. The crypto lender has agreed to refund more than $100,000 to the California customers that continued repaying their crypto loans even after trading halted operations on November 10, 2022.The hearing for the request to refund the customers is scheduled for April 19, 2023. The refunds will go ahead if the motion is approved by the bankruptcy court.In the meantime, BlockFi has agreed to an “interim suspension” of its California Financing Law (CFL) license while “the bankruptcy and revocation actions are pending.”The post Bankrupt BlockFi to refund over $100K to California clients appeared first on CoinJournal.

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CFTC sues Binance for trading violations BNBUSD bearish bias persists$200 is a major support areaThe cryptocurrency market is hit with another scandal as news that CFTC (Commodity Futures Trading Commission) is suing Binance for trading violations. As it turns out, Binance is accused of having over 300 trading accounts under the control of CZ, and these accounts trade crypto.The problem is that it is easy to manipulate market prices through a tactic known as wash trading. Binance’s image is affected, and it might impact its coin, too, BNB.BNB is the cryptocurrency coin that powers the BNB Chain ecosystem. It traded as high as $700 during the 2021 bull market but has given up more than half of its gains since then.So what do the charts tell us about the next possible direction for the BNB/USD?MediaBNBUSD chart by TradingView$200 is a major support area for BNBAfter surging during the bull run of 2021, BNB/USD made a double top pattern around the $700 area. From that moment on, the bearish bias persisted, as the market was unable to break the series of lower highs.Even the 2023 rally in the cryptocurrency market was not strong enough for the market to break above the previous lower high. As such, the bearish bias persists, and all eyes are now on the $200 area where the market found strong support previously.Only a daily close above $400 would invalidate the bearish bias. Until then, the path of least resistance remains the downside.  The post BNB/USD price forecast amid CFTC suing Binance for crypto trading violations appeared first on CoinJournal.

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Key TakeawaysAlex Kim is the Head of Partnerships in the Americas for BNB Chain, and he joins the CoinJournal podcastHe chats about the bear market, an interoperable future, the ease of building on BNB Chain, gas fees, decentralisation and moreThe dark side of of crypto, the migration of projects from other blockchains and much more are also discussedThere are a million different blockchains in the crypto space today, and it can be confusing to understand them all. Today, Alex Kim joins the CoinJournal podcast, the Head of Partnerships in the Americas of BNB Chain, to talk all things BNB Chain. The chain has grown immensely quickly to where it is now one of the biggest players in the space. The conversation touched on many points. Alex began by covering the much-discussed topic of what role Binance plays in all this. An early backer, Alex describes how the world’s biggest crypto exchange is now a distinct entity from the blockchain. He also chats about BNB and the role it plays on the blockchain, as well as the cheap gas fees which are prevalent on the chain, in contrast to some rivals. On the subject of rivals, he touches on Ethereum and what he believes will be an interoperable future. Also covered is the recent migration of several projects, including the much-publicised addition of Uniswap, one of the biggest players in the DeFi space. Of course, it is hard not to talk about the bear market. The torrid year that was 2022 brought many challenges for everybody in the cryptocurrency space, and Alex chats about what it was like to navigate the industry during this time. He also delves into dark side of crypto and the downsides of it being so easy to build in this decentralised world. Scams are commonplace, with many projects going to zero over the last year, with retail investors often the ones left holding the bag. Listen to the podcast on various platforms here:Listen on Spotify here:Reach BNB Chain: @BNBChainFind out more at www.bnbchain.orgThe post PODCAST: What is the BNB Chain? appeared first on CoinJournal.

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Kaspa has been one of the top-performing cryptocurrencies in March.The coin jumped sharply after more exchanges listed the coin.Kaspa price has done well in March, making it one of the top-performing cryptocurrencies in the industry. It jumped to a high of $0.023, which was about 2,400% above the lowest level in November last year. Its total market cap has jumped to over $397 million.What is Kaspa?Kaspa is an upcoming cryptocurrency that aims to become the best alternative to Bitcoin. It is a proof-of-work coin that seeks to become the fastest crypto in the industry. The coin has a block second of about 1 second and a maximum supply of over 28 billion coins.It is unclear why Kaspa price jumped sharply in March. A likely reason is that the number of cryptocurrency exchanges started listing the coin. For example, on March, Gate.io listed the coin and enabled the KAS/USDT pair.📈 NEW LISTING ALERT! $KAS just got listed on @Hotbit_news• KAS/USDThttps://t.co/POtCGBlGpX#KAS #kaspa #USDT pic.twitter.com/PWTkuWpl5w— Kaspa (@KaspaCurrency) March 27, 2023Kaspa’s coin was also embraced by other exchanges like DigiFinex and XT.com. On Tuesday, the coin was listed in HotBit, which will expose it to more customers. Data compiled by CoinMarketCap shows that most KAS/USDT pair was traded in MEXC, which has a 54% market share. Other popular providers of the coin are Txbit, Gate.io, and CoinEx, among others.Kaspa’s rally is also because of the broader strength of the crypto market. Bitcoin jumped to over $28,500 in March while the total market cap of all digital coins jumped to over $1.2 trillion.Kaspa price predictionMediaThe 4H chart shows that the KAS/USDT price has been in a strong bullish trend in the past few days. It has managed to move above the key resistance at $0015, the highest level on March 2. The coin has jumped above all moving averages while the Relative Strength Index (RSI) has moved above the overbought level. Further, the Stochastic Oscillator has moved above the overbought level. Therefore, there is a possibility that the coin will pull back in the coming days as buyers start to take profits. If this happens, the next key support level to watch will be $0.15, which is about 33% below the current level.How to buy KaspaThe post Kaspa price is soaring after more exchange listings appeared first on CoinJournal.

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The three German scientists formed ZeroSync Association to bring Zero-Knowledge Proofs to Bitcoin.The association has received sponsorship from Geometry Reaserch and StarkWare Industries.Geometry Reaserch is a crypto investment firm while StarkWare Industries is the software company behind StarkNet.Bitcoin currently uses the proof-of-work (PoW) consensus mechanism which in a way limits its scalability. Its rival blockchain Ethereum also used PoW but changed to Proof-of-Stake (PoS) consensus mechanism through the Merge Upgrade.Three German computer scientists have created a Swiss non-profit association called ZeroSync Association to help bring scalability to Bitcoin using zero-knowledge proofs (zk-proofs), a cryptographic technique whose popularity on Ethereum has surged considerably.What is Zero-knowledge Proofs?Zero-knowledge Proofs, commonly referred to as zk-proofs, is a cryptographic technique that uses cryptography to prove the validity of information revealing the information to the public.By deploying kz-proofs on Bitcoin means nodes will be able to sync almost instantly compared to hours and sometimes days that it takes to download the chain’s current 500GB data.ZeroSync Association already has a working prototypeAt the moment, ZeroSync has already developed a working prototype that allows users to validate who owns what and the transaction history on Bitcoin without having to download the entire chain or using a third party.The prototype can however only verify Bitcoin consensus rules but not transaction signatures. The prototype is also a bit chunky and still needs to be optimized for security and speed.When fully deployed on Bitcoin ZeroSync will allow verification of transaction of Bitcoin using cryptographic proof instead of trusting honest nodes as suggested by the Bitcoin founder Satoshi.The post 3 German computer scientists bringing scalability to Bitcoin using zk-proofs appeared first on CoinJournal.

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CFTC sued Binance for violating federal laws to attract U.S. clients.Mizuho’s Dan Dolev reiterates his $30 price target on Coinbase stock.He prefers Bitcoin over Coinbase Global Inc to play the crypto space.On Monday, Commodity Futures Trading Commission sued Binance for violating federal laws to attract U.S. clients.What does it mean for the Coinbase stock?Theoretically, that should be an opportunity for rival Coinbase Global Inc (NASDAQ: COIN) to expand its market share.Still, Dan Dolev – Senior Analyst at Mizuho recommends against investing in the crypto exchange. Explaining why on CNBC’s “Closing Bell: Overtime”, he said:What you’re seeing now is beginning of the real crackdown on crypto. If I owned any of these crypto names, I’d be really worried. I wouldn’t invest in any public exchange, including Coinbase.Last week, Coinbase also received a Wells notice from the Securities and Exchange Commission for violating U.S. securities laws. Coinbase stock ended nearly 10% down on Monday.Dolev prefers Bitcoin over Coinbase stockDolev currently has an “underperform” rating on the crypto exchange. His $30 price objective suggests its shares could tank another 50% from here.There’s no business model. If the government cracks down on altcoins and staking, that’s 35% of Coinbase revenue – on Ethereum, you’re adding another 20%-30%. Then, what are they left with?Nonetheless, Coinbase Global Inc reported better-than-expected results for its fourth financial quarter in February. It, however, ended Q4 with 8.3 million MTUs (monthly transacting users) versus 8.5 million a year ago.The Mizuho analyst prefers Bitcoin over Coinbase stock to play the crypto space.The post Dan Dolev’s view on Coinbase stock after CFTC sued Binance on Monday appeared first on CoinJournal.

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Key Takeaways$23.6 billion of stablecoins are currently on exchanges, the least since October 202145% of stablecoins have fled exchanges in the last four months61% of USDC has left exchanges in the three weeks since Silicon Valley Bank’s collapse, while 50% of BUSD has evaporated since regulators announced it was to shut downTrend in falling supply of stablecoins has been ongoing since FTX collapsed in November, but has worsened recentlyCapital is flowing into T-bills, with 5 times the amount of treasury accounts created last year as 2021Bitcoin’s falling price and volumes are more extreme, but liquidity has been siphoned out of the markets at large due to rising interest rates Federal Reserve is now caught between rock and a hard place, as rising interest rates needed to combat inflation but banking sector wobbles may force its handIt’s always turbulent in the crypto markets. The waters have been particularly choppy recently with regard to the stablecoin market. There are currently less stablecoins on crypto exchanges than at any point since October 2021. But where is all the money going? Into <a href="https://coinjournal.net/bitcoin/">Bitcoin</a>? Hidden away in cold wallets? Away from crypto altogether?In this piece, we dig into the data to try to ascertain where exactly the money is moving, and why, as well as what it means for Bitcoin and how it all ties back to the Federal Reserve. The flight of stablecoinsFirst things first. Stablecoins are fleeing exchanges at an unprecedented speed. In less than four months, 45% of stablecoins have left exchanges. That is a drawdown from $43.1 billion to $23.6 billion, a pace that has never been seen before. The chart shows a clear downward trajectory since the <a href="https://coinjournal.net/news/ftx-insolvent-what-next-for-crypto/">implosion of FTX</a> in November 2022 – with the pace picking up since the turn of the year. In the next chart, we focus on the outflows alone, helping us to zone in on the speed of these movementts and how they compares to previous periods of outflows. We can see that in terms of precedent, we saw big spikes in outflows in May 2022 (when LUNA collapsed) and May 2021 (when Bitcoin freefall down from $58K to $37K in a week, despite no obvious trigger). But the difference this time is that the elevated pace of withdrawals has continued for a much longer time period, at four months and counting. Perhaps layering in price gives more of an indication as to what is happening. In this next chart, we can see big drawdowns in Bitcoin price have coincided with large amounts of stablecoin withdrawals. But it brings us to an interesting crossroads: this time seems different. As while FTX kicked off a Bitcoin drawdown to $15,500 from $20,000 in November, since then Bitcoin has increased 80%, back up towards $28,000. And yet, the stablecoin balance has continued downward. BinanceUSD and UCD Coin run into problems, but Tether drained tooSo why is this time different? Why are withdrawals of stablecoins remaining elevated while Bitcoin surges?Well, the events around Binance USD and USD Coin are the most glaring. It was announced last month that Binance USD is shutting down due to US securities law (deep dive on that circus <a href="https://coinjournal.net/news/what-does-busd-shutting-down-mean-for-the-crypto-industry-a-deep-dive/">here</a>). At the time, the stablecoin had a market cap of over $14 billion, the third biggest behind USDC and USDT. In the words of CEO Changpeng Zhao, the developments meant that BUSD will slowly decline to zero.3/ As a result, BUSD market cap will only decrease over time.— CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1625067487984340993?ref_src=twsrc%5Etfw">February 13, 2023</a>And that is what has started. 17% of BUSD was <a href="https://coinjournal.net/news/17-of-busd-supply-redeemed-this-week-what-next-for-binance-bnb-and-crypto/">immediately pulled</a> from exchanges in the days after the announcement. Today, the supply of BUSD on exchanges is 7.2 billion…

XRP price rose nearly 10% to highs above $0.50 on Tuesday.Ripple is set for a court decision in its battle with the SEC, with social dominance for XRP rising.XRP price is up amid increased volume, with support for the XRP/TUSD pair on Binance added on 29 March.The price of <a href="https://coinjournal.net/ripple/">XRP</a> soared nearly 10% on Tuesday morning to break above $0.50 for its highest level since early November. The XRP price is up 32% this past week.XRP’s gains came as the broader cryptocurrency market endured yet another slow day, with action muted as the community digested recent news around major cryptocurrency exchange Binance. As of 11 am ET on 28 March, the XRP token traded at $0.5045, the highest price for the <a href="https://coinjournal.net/news/tag/ripple/">Ripple</a> cryptocurrency since 5 November 2022 when it sharply dropped from above 50 cents to lows of $0.33.XRP price outlook amid volume spikeToday’s upside comes after a week of growing positivity for XRP, with expectations over the SEC vs. Ripple Labs case helping return huge volume to the top 10 crypto.The Commodity Futures Trading Commission (CFTC) terming Bitcoin, Ethereum and Litecoin as commodities in its complaint against Binance has only helped to fuel sentiment that XRP will be declared a commodity and not security when its court battle with the US regulator concludes.On Monday, John Deaton, the founder of Crypto Law and a blockchain enthusiast, <a href="https://twitter.com/JohnEDeaton1/status/1640119564775112704">suggested</a> that XRP offers the best risk/reward ratio.“<em>The Judge’s ruling is coming down w/in the next few weeks (maybe this week). If the SEC wins, what’s the downside from .45? Ripple appeals and we get the status quo. Ripple wins and its made clear XRP isn’t a security? Upside?</em>”XRP has the most attractive risk/reward ratio IMO. The Judge’s ruling is coming down w/in the next few weeks (maybe this week). If the SEC wins, what’s the downside from .45? Ripple appeals and we get the status quo. Ripple wins and its made clear XRP isn’t a security? Upside? 🤔— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1640119564775112704?ref_src=twsrc%5Etfw">March 26, 2023</a>This outlook for XRP has persisted over the past few days, with trading volume spiking as the network experienced increased mainstream interest.According to on-chain data platform Santiment, XRP’s breakout to a 50-week high coincides with XRP Network’s social dominance bursting to a new year-high level. This has only added to increased crowd recognition, suggesting the cryptocurrency could see further upside volatility as volume spikes.👀 <a href="https://twitter.com/hashtag/XRPNetwork?src=hash&ref_src=twsrc%5Etfw">#XRPNetwork</a>'s social dominance is at its highest point in a year following the surge above $0.49 for the first time since Nov. 6. Added <a href="https://twitter.com/search?q=%24XRP&src=ctag&ref_src=twsrc%5Etfw">$XRP</a> crowd recognition means more volatile price swings caused by increased volume & mainstream interest. <a href="https://t.co/bMT66JTwmT">https://t.co/bMT66JTwmT</a> <a href="https://t.co/pUIWe9vGKu">pic.twitter.com/pUIWe9vGKu</a>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1640393320567570432?ref_src=twsrc%5Etfw">March 27, 2023</a>Binance’s <a href="https://www.binance.com/en/support/announcement/binance-adds-ldo-tusd-matic-tusd-op-tusd-sol-tusd-ssv-tusd-xrp-tusd-trading-pairs-3771bdb298c648899ae8ebe224131455">announcement</a> that it will support for the XRP/TUSD pair starting 29 March, 2023 has also contributed the social chatter that’s seeing XRP price look to test new multi-month highs.However, while bulls might have a chance to extend gains above $0.50, chances of a short term sell-off are likely given the outcome of the SEC case as well as prevailing market sentiment. If profit taking intensifies, its possible XRP could retreat to recent support near $0.36.The post <a href="https://coinjournal.net/news/xrp-price…

As the cryptocurrency market evolves and matures, many investors seek the next big Initial Coin Offering (ICO) that could offer significant returns. But with so many popping up all the time, which are the best crypto ICOs worth investing in? In this article, you’ll find 12 hand-picked ICOs with promise. From AI-based projects to layer-1 solutions, you will find something that catches your eye.Coin ListMetacade (MCADE)AltSignals (ASI)ALINK AI (ALINK)Vivi (VIVI)OptionBlitz (BLX)ASTL (ASTL)Kryptview (KVT)Minima (WMINIMA)Brickken (BKN)EasyFeedback (EASYF)WeSendIt (WSI)Mintera (MNTE)1. Metacade (MCADE) – Playing a Vital Role in the Play-To-Earn MovementWhat is Metacade?<a href="https://metacade.co/en/?utm_source=media">Metacade</a> is a play-to-earn (P2E) community hub aiming to shake up the GameFi landscape with its initial coin offering. It’s an all-in-one solution where gamers, crypto enthusiasts, and developers can team up and explore the rapidly-expanding world of P2E gaming. While it’ll have everything you’d expect from a gaming hub, like sub-communities, spaces for real-time interaction, and game leaderboards, it’s harnessing the power of blockchain technology to take things to the next level. For instance, to encourage the top minds in P2E to flock to the platform, it rewards anyone sharing reviews, tips, and other helpful content with MCADE tokens. Advanced players can earn by helping others find their GameFi edge. Meanwhile, players new to the P2E space can open up another source of income by sharing their thoughts on a new title they’ve been playing.There are also plans for regular tournaments, prize draws, and competitions where gamers can test their luck alongside other community members. Metacade intends to introduce a job and gig board in 2024, where users will discover roles ranging from casual game testing gigs to full-time salaried positions with Web3 and gaming leaders. Most excitingly, Metacade is introducing the Metagrant scheme. Metagrants are expected to play a pivotal role in shaping the future of the P2E industry. They allow the community to vote and direct funds to the very best P2E titles in development. Developers will submit their ideas to a pool of competing proposals, and MCADE holders will vote on their favorite. The one that wins is awarded financing from the Metacade treasury, with the final game being added to the platform’s virtual arcade for anyone to log on and play. Not only does this foster a unique sense of community engagement, but it also has the potential to make Metacade a household name with P2E gamers. Combined with other impressive aspects, like a planned decentralized autonomous organization (DAO), staking, a token buyback and burn program, and features in several well-respected media outlets, Metacade looks to be the best ICO to invest in right now. Considering it’s raised over $14.6m, with each stage selling out faster than the last, it seems the crypto investor community agrees too. >>> You can participate in the Metacade presale <a href="https://metacade.co/en/?utm_source=media">here</a> <<<2. AltSignals (ASI) – Harnessing AI to Transform the Trading IndustryWhat is AltSignals?<a href="https://token.altsignals.io/?utm_source=media">AltSignals</a> is a trading signals provider that has established itself as an industry leader. Launched in 2017, AltSignals has issued over 1,500 calls in the forex, crypto, and stock market to over 1,400 VIP subscribers, with an average accuracy of 64%. It consistently produces outstanding returns each month; its Binance Futures signals for February netted a 2,163% return with a 90% win rate, while January generated 2,480% with 92% accuracy!AltSignals’ impeccable Trustpilot scores back up these results. It’s garnered almost 500 positive reviews, boasting an average star rating of 4.9/5. It’s all been made possible by AltSignals’ team of advanced trading professionals and the cutting-edge <a href="https://www.altsignals.io/indicator">AltAlgo™</a> Indicator. AltAlgo™ combines over 34 filters and strategies…

NFT Inspect is a web-based app and browser extension for Web3 and NFTs.JVH Technology Inc. has acquired full ownership of the Social Intelligence application.Co-founder Stefan Mai and Evan King have left the project to pursue other interests within the industry.Blockchain technology firm JVH Technology Inc. has acquired web-based app and browser extension NFT Inspect, continuing its focus on advancing adoption of NFTs despite negative market conditions.The acquisition marks a new chapter for NFT Inspect, with a new team taking over just over three months after the platform put brakes on plans to shut down amid the crypto winter. NFT Inspect teased the acquisition in a tweet on Monday.We are thrilled to announce that NFTInspect has been acquired by a new ownership team. The new leaders boast deep roots in the NFT & Web3 space, this pivotal moment signals a promising resurgence for NFTInspect. pic.twitter.com/fZR4qOF7TT— Inspect (@nftinspect) March 27, 2023JVH to promote Web3 and NFTs adoptionNFT Inspect is a top Web3 social intelligence application and NFT hub with over 100,000 users, attracting a growing community as more people seek to tap into revenue-generating protocols.“We are thrilled to have acquired such a remarkable and popular Web3 project,” said JVH Head of Business Allan Satim.“Inspect has already established an exceptional community, and we are excited to integrate additional resources into the Inspect ecosystem while placing strong emphasis on community involvement and the fundamental principles of Web3,” he added in a press release.Satim noted that Inspect is a major player within the NFT and SocialFi ecosystem, and the acquisition is an opportunity to expand on its growth. JVH plans to integrate other crypto, SocialFi and Web3 projects, bringing new revenue-generating opportunities and giving more value to the community.According to the JVH, NFT Inspect founders Evan King and Stefan Mai will be transitioning to new projects.The post Blockchain firm JVH acquires crypto platform NFT Inspect appeared first on CoinJournal.

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