H.C. Wainwright analyst initiates Coinbase with a “buy” rating.Mike Colonnese explained his bullish view in a research note.Coinbase stock has lost about 35% in just over a month.A 35% pullback in Coinbase Global Inc over the past month is “overdone” and a recovery is coming soon, says Mike Colonnese – an H.C. Wainwright analyst.Buy Coinbase stock for a 35% returnOn Wednesday, Colonnese recommended that investors buy shares of the world’s second-largest and one of the best cryptocurrency exchange as they had upside to $75 – a 35% premium on its current price.The analyst is bullish on Coinbase stock for one simple reason that rewards currently outweigh the risks.Coinbase is uniquely positioned to benefit from large and rapidly growing crypto economy given its trusted brand, easy to use products, and focus on compliance and regulation.Coinbase has a footprint in 100 countries and is serving about 8.3 million active users, which, Colonnese wrote, is scale enough for it to expand its market share this year.Why else is he bullish on Coinbase stock?Coinbase is expected to report its Q1 results next week. Consensus is for it to lose $1.36 a share this quarter versus $1.98 per share a year ago.The H.C. Wainwright analyst is convinced that the crypto winter is over and the subsequent increase in trading volume will be a catalyst for the company’s operating performance. His research note added:COIN is a scarce asset, as the only publicly listed crypto native company in the U.S. with a market cap >$10B, which means competition for investor capital is extremely limited.Earlier this week, Coinbase sued the Securities and Exchange Commission after waiting for months to get an answer on its July 2022 petition. Regulatory clarity in the future will also help drive the Coinbase stock up, Colonnese concluded.The post Coinbase stock outlook: H.C. Wainwright analyst sees upside to $75 appeared first on CoinJournal.

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Solana users will soon be able to interact with the network through a ChatGPT plugin.Users can use the plugin to check wallet balances, transfer Solana-native tokens, and buy NFTs.Developers are also encouraged to test using the plugin to retrieve on-chain data.At press time, SOL price was up 7.33% 34 hours after Solana announced through a tweet that “Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.”(1/2) Solana Labs has created an open-source reference implementation for a ChatGPT plugin that lets users interact with the @solana network directly from ChatGPT.Users will be able to check wallet balances, transfer tokens, and purchase NFTs once ChatGPT plugins are available. pic.twitter.com/08z1IX76zJ— Solana Labs (@solanalabs) April 25, 2023The news comes two weeks after Solana unveiled yet another achievement, the crypto-first ‘Saga’ android phone, which will be available for customers to purchase from May 8. Solana Network has seen increased activity over the recent past causing the price of its native token SOL to rise by more than 11% in the last 30 days.Solana ChatGPT plugin useThe open-source reference implementation for a ChatGPT plugin marks Solana’s entry into the world of artificial intelligence (AI). Announcing the plugin, Solana Labs noted that it would allow users to interact with the Solana network directly from OpenAI’s ChatGPT.Since its launch in November 2022, ChatGPT has quickly attracted global popularity mainly because of its AI-powered chatbot, which generates sophisticated responses to any request. In the wake of the ChatGPT, several other companies have started leveraging AI technology including players in the crypto sector as they seek to enhance user experience.Besides allowing users to check wallet balances, transfer Solana-native tokens, and buy non-fungible tokens (NFTs), the ChatGPT plugin will also allow developers to build AI-powered applications on the Solana network.Grants to AI developersSolana Foundation also announced that it will be allocating grants to its ecosystem teams building AI tools on the Solana blockchain.According to the foundation, the teams or individuals will be able to seek from $5, 000 to $25,000 grants from a $1 million fund.The post SOL price surging after Solana ChatGPT plugin unveiled appeared first on CoinJournal.

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Merlin is an Ethereum-based decentralized exchange (DEX) which uses zero-knowledge sync (zkSync).The DEX has lost more than $1.8 million in a liquidity pool hack.The hack took place barely hours after smart contract security firm CertiK audited the DEX’s code.Ethereum-based decentralized exchange (DEX) Merlin woke up to bad news on Wednesday morning after a hacker(s) drained the DEX $1.8 million in a liquidity pool hack. The hack happened during a public sale of Merlin’s native token MAGE.The hacker(s) stole several cryptocurrency assets including Ethereum (ETH), USD Coin (USDC), and other illiquid tokens.CertiK had audited Merlin’s codeA few hours after the hack, security firm CertiK tweeted saying that it was investigating the incident to understand its impact on the community. It also said that its initial findings suggest that it could have resulted from an issue with a private key management meaning it was hack and not an exploit as widely thought.CertiK conducted an audit of Merlin’s code on April 24, 2023, and recommended that Merlin improves its “centralized roles to the decentralized mechanism like multi-signature wallets to enhance security practices.” It also asked Merlin to implement a timelock feature with a latency of at least 48 hours to avoid a single point of key management.CertiK also promised to collaborate with appropriate authorities in case anything came up.CertiK and zkSync Era to compensate lost assetsWhile urging the hacker, who CertiK believes is a rogue developer, to return 80% of the stolen funds, the security firm offered a 20% white hat bounty to the hacker.In a statement to a renowned media outlet on April 26, CertiK reiterated it is investigating the exit scam and has also enlisted the remaining Merlin team to initiate the compensation plan. The firm said:“CertiK is exploring a community compensation plan to cover the ~$2M of user funds lost in the Merlin DEX rug pull. Initial investigations indicate that the rogue developers are based in Europe, and we are working with law enforcement to track them down.”CertiK also noted that private key privileges are “committed to assisting impacted users” notwithstanding that they are outside the scope of a smart contract audit.The post CertiK and zkSync Era plan to compensate Merlin hack victims appeared first on CoinJournal.

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Helium successfully migrated to Solana Network last week.More than six billion IOT tokens have been minted since Helium migrated to Solana.IOT Token surged by 370 earlier today to hit a daily high of $0.003927.Helium IOT (IOT) token surprised a majority of crypto investors today after surging by more than 370%. Despite a slight retracement, the token was still green trading at $0.00206, up 33.59% at press time.Today’s IOT token price surge is attributed to last week’s successful Helium migration to Solana Network which has resulted in more than six billion IOT to be minted.Protocol token of Helium’s internet-of-things networkMost are conversant with Helium’s native token, HNT, which has also been performing quite well over the past few days after the migration.Helium has another token, the Helium IOT, which is the protocol token of Helium’s internet-of-things network. The Helium IOT is mined from Helium’s hotspots, which is the hardware infrastructure behind the IOT network.Helium IOT is backed by the HNT token and can always be converted to HNT, with the redemption rate being algorithmically set by its treasury swap smart contract.According to data from Solana’s block explorer, there are about six billion IOT tokens in circulation supply out of the maximum supply of 200 billion tokens.The IOT token also received another boost after Solana-based decentralized-finance (DeFi) protocol Kamino Finance said it had opened two Helium vaults to allow investors to stake their IOT and HNT tokens for a yield.The post Helium’s migration to Solana sends IOT token price through the roof appeared first on CoinJournal.

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Bitcoin and the S&P 500 move in a tight correlationThe 2023 price action is relevant for understanding the direct correlationIf stocks bounce, Bitcoin should followFor many years cryptocurrency investors wished Bitcoin to be adopted by institutional investors. Eventually, their wish came true.Bitcoin is now part of many institutional portfolios, for various reasons. Some believe that it is the digital gold. Others say that it has huge upside potential due to its scarcity.No matter the reason, Bitcoin is now part of the institutional investing world. But it came at a price. Namely, Bitcoin became just another asset trading in correlation with regular markets, such as the S&P 500.Even the 2023 rally does not alter the relationship, as seen in the chart below.MediaBitcoin chart by TradingViewIf US stocks bounce from here, Bitcoin should rally some moreYesterday, Bitcoin tried its hand again at the $30k level. Stocks tanked.But even so, the correlation between the two remains. Therefore, the price action since 2022 is relevant.In April 2020, the two delivered similar performances. Yet, the scandals in the cryptocurrency industry have sent Bitcoin lower.However, every bounce happened just when stocks bounced. The most recent price action is relevant, as Bitcoin matched both advances and declines in the stock market. Just the amplitude of the moves was different, just as it was when Bitcoin’s price was in bearish territory.All in all, it is hard to believe that this correlation will go away anytime soon. Also, it is unlikely that Bitcoin would not rally some more, should stocks bounce from here.The post A bullish case for Bitcoin should US stocks bounce from here appeared first on CoinJournal.

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Key takeawaysCrypto storage provider Zodia Custody has raised $36 million in a recent funding round.The crypto-focused subsidiary of Standard Chartered will use the funds for international expansion.The funding round was led by SBI Holdings and SC VenturesZodia Custody raises $36 millionZodia Custody, a crypto-focused subsidiary of Standard Chartered, has raised $36 million in a funding round. According to the company, the funds would be used to pursue international expansion. The funding round was led by SC Ventures, the venture arm of Standard Chartered, and Japanese conglomerate SBI Holdings. Zodia Custody also revealed that there are other unnamed investors. The crypto custody provider also didn’t disclose the valuation of the company following this funding round. Zodia Custdoy revealed that the funds would be used to boost geographic expansion and increase the company’s coverage. The firm will also use the funds to improve its interchange and off-exchange settlement services as it seeks to protect client assets that are traded on crypto exchanges. While commenting on this latest cryptocurrency news, Julian Sawyer, CEO of Zodia Custody, said;“The future direction of the digital asset ecosystem is clear. As investors demand greater assurance and rigor, compliance is crucial to the future evolution of our sector.”Standard Chartered is bullish on BitcoinStandard Chartered, the parent company of Zodia Custody, is bullish on Bitcoin. Earlier this week, analysts at the bank said they believe crypto winter is over and Bitcoin could rally towards the $100k mark by next year.At press time, the price of Bitcoin stands at $29,066, up by more than 50% year-to-dateZodia Custody was originally launched by Standard Chartered and Northern Trust, the asset servicing firm, in 2021. The firm announced a joint venture with Japanese-based SBI Digital Asset Holdings earlier this year to launch a custody business in Japan. The post Standard Chartered’s Zodia Custody raises $36 million appeared first on CoinJournal.

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Dymension is a blockchain startup building a network of easily deployable modular blockchains called RollApps.Dymension has partnered with Evmos Core Teams and Celestia.The three have launched the world’s first-ever IBC-enabled EVM rollup on testnet.Dymension has announced its collaboration with Celestia and Evmos Core Teams to launch the world’s first-ever IBC-enabled EVM rollup on testnet.Dymension has built-in rollups technology for scalability and it is creating an ecosystem of easily deployable and lighting-fast RollApps that any developer can use to build and deploy in order to scale their decentralized applications.IBC-enabled EVM rollupThe IBC-enabled EVM RollApp will be deployed within Dymension’s initial testing ground “35-C”, as part of its long-term plan to establish and bootstrap a new ecosystem of IBC-enabled rollups. The deployment was made possible through close collaboration with the Evmos Core Development Team, as the RollApp uses Ethermint, an implementation of the Ethereum Virtual Machine that’s built on top of Dymension’s RollApp.Commenting about the new RollApp, Dymension Lab’s CEO and Co-Founder, Yishay Harel, said:“Excited to have worked closely with the Evmos team to achieve this milestone. With the world’s first IBC-enabled EVM rollup now deployed on testnet, we’re one step closer to bringing scalable and interoperable blockchain solutions to the wider community. This is just the beginning of our journey, and we’re looking forward to continuing to push the boundaries of what’s possible with EVM-based technology.”The new EVM RollApp utilizes the EVMOS token as its gas token and updates its state to the Dymension Hub and posts data to Celestia’s “Mocha” testnet.In addition, the new RollApp will feature a Uniswap V2 fork and a bespoke frontend, as part of a proof-of-concept to demonstrate how anyone can deploy their own RollApp and host EVM dApps. Developers will be able to fork any EVM-based dApp and deploy it on the RollApp using Dymension’s technology.In addition, since Dymension’s RollApp is IBC-enabled it can natively connect to the Cosmos ecosystem of the IBC blockchain.The post Dymension and Evmos Core Teams launch first IBC-Enabled EVM Rollup appeared first on CoinJournal.

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MultiversX price jumped sharply on Thursday.This happened after Upbit listed the coin in its ecosystem.<a href="https://coinjournal.net/elrond/">MultiversX</a> price jumped sharply as investors reacted to the latest listing in Upbit, one of the leading <a href="https://coinjournal.net/compare/best-cryptocurrency-exchanges/">crypto exchanges</a><strong>. </strong>EGLD jumped to a high of $52.01, the highest level since February 21 of this year. In all, the coin has risen by more than 37% from the lowest level this year.Why is MultiversX soaring?MultiversX, formerly known as Elrond, is a leading blockchain project that aims to be a good replacement for Ethereum and Solana. Its main advantage over Ethereum is that it was one of the earliest blockchains to adapt the sharding technology. First implemented by Ziliqa, sharding is a technology that boosts transaction throughputs by breaking blocks into smaller pieces known as shards. MultiversX is also highly cost-effective for users, with the average transaction cost being about $0.0022.MultiversX has been embraced by developers creating dApps in industries like <a href="https://coinjournal.net/learn/what-is-defi/">DeFi</a>, <a href="https://coinjournal.net/glossary/non-fungible-token-nft/">non-fungible tokens</a><strong>, </strong>and the metaverse among others. According to its website, the network has over 2.2 million wallets and has completed over 314 million transactions.The main reason why the EGLD price is surging is that Upbit decided to list the coin. This is a major event since Upbit is one of the biggest exchanges in the world with over 8.6 million customers globally.In most cases, we often ss cryptocurrencies jump after a major exchange listing. For example, as we wrote <a href="https://coinjournal.net/news/crypto-price-prediction-matic-floki-and-dione/">here</a><strong>, </strong>FlokI Inu price jumped this week after it was listed by Binance US. Historically, these gains tend to be short-lived.<a href="https://twitter.com/search?q=%24EGLD&src=ctag&ref_src=twsrc%5Etfw">$EGLD</a> is now listed on <a href="https://twitter.com/Official_Upbit?ref_src=twsrc%5Etfw">@Official_Upbit</a>, the world’s 1st crypto exchange by fiat volume & 2nd largest by spot volume.Opening up EGLD trading for 8.9M+ users.Deposits and trading are live on the EGLD/KRW and EGLD/BTC pairs.<a href="https://t.co/r7yuMjNAT3">https://t.co/r7yuMjNAT3</a> <a href="https://t.co/wE3cFjpAij">pic.twitter.com/wE3cFjpAij</a>— MultiversX (@MultiversX) <a href="https://twitter.com/MultiversX/status/1651484708943847425?ref_src=twsrc%5Etfw">April 27, 2023</a>EGLD price prediction<a href="https://media.igms.io/2023/03/27/1682598077585-52a14f06-43b5-4843-9f76-67383c6faad2.png">Media</a>The daily chart shows that the EGLD price made a bullish breakout after being listed in Upbit. It moved above the 50-day moving average and retested the key resistance point at $52.01. This was an important level since it was the highest point in February.Therefore, I suspect that EGLD will retreat slightly in the next few days and then resume the bullish trend. The final part will depend on the performance of other cryptocurrencies like Ethereum and Bitcoin. How to buy MultiverseX Binance.US Binance.US provides secure and reliable access to the world’s most popular cryptocurrencies, with some of the lowest fees in the industry. <a href="/visit/binance-us-crypto?guid=MTM3ODc1&component=simple-table&language=en&country=US&position=1&totalPositions=2"> Buy EGLD with Binance.US today </a> KuCoin Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.Users can benefit from a beginner-friendly interface and relatively low fees. <a href="/visit/kucoin-crypto?guid=MTM3ODc1&component=simple-table&language=en&country=US&position=2&totalPositions=2"> Buy EGLD with KuCoin today </a> The post <a href="https:…

Key TakeawaysBitcoin led markets on a ride Wednesday, surging from $28K to $30K before shedding 7% in an hourSurge had come following optimism for liquidity injection from Fed, as banking issues resurfaced at First Republic and shares cratered 50% Markets are too thin and prone to these large price swings, writes our Head of Research, Dan Ashmore Highlights how dangerous the sector can be in the short term, he says, warning enthusiasts to be carefulI wrote a <a href="https://coinjournal.net/news/dont-be-fooled-by-bitcoins-recent-calm-volatility-is-coming-opinion/">few days ago</a> about the state of crypto markets, warning that volatility was incoming following an unusually calm period for digital assets. Last night that volatility came, and it came hard. It doesn’t make me a genius, as the timing was nothing more than blind luck, but it does demonstrate my point. The crypto markets are currently highly sensitive, even more so than usual, and that won’t change anytime soon. On Wednesday morning, Bitcoin jumped from $28,300 to close to $30,000 in the space of a couple of hours. This came as First Republic Bank announced it had been subject to $100 billion of withdrawals last quarter, its share price tanking 50%. Despite what enthusiasts may argue, crypto did not rise because the fiat world is collapsing, the banking sector going the way of the T-Rex and the dodo bird. Some decried crypto as a store of value outside of the creaking system, scooping up panicking investors fleeing the fiat world. Sure, in the long term, there could be discussion to be had here, but that is for another day. Instead, it appears likely that coins surged in anticipation of more liquidity injections from the Federal Reserve. In other words, crypto did what it has been doing all year: moved in response to expectations around the future path of monetary policy. A quick look at Bitcoin’s correlation with the Nasdaq shows this, now at a near-perfect 1 on a 90-day rolling basis, should affirm this. Bitcoin, and crypto as a whole, continues to trade like a highly risky tech stock. <pre data-stringify-type="pre"> </pre>But back to volatility. After the surge Wednesday morning, Bitcoin then plunged from $29,700 to $27,700, a 7% red candle in a little over an hour. As of Thursday morning, it is back at $29,000, as it reverberates all over the place, struggling to make up its mind.  Rumours swirled around the possible movement of Mt Gox coins, while some pointed to the apparent US government wallets becoming active. I had a quick look into these and it’s ultimately impossible to prove the two developments are connected. They may be, but it’s not clear that this is what caused the sharp fall. In reality, this is exactly what I was pointing to earlier this week. Whatever the reason for the plunge, crypto markets are incredibly thin right now and primed for violent moves. Capital has flooded out of the space over the last year at a remarkable pace. One nice way to illustrate this is by looking at the stablecoin balance on exchanges (deep dive <a href="https://coinjournal.net/news/45-of-stablecoin-balance-has-left-crypto-exchanges-in-4-months-but-where-has-all-the-money-gone-a-deep-dive/">here</a>). Since December, over half the stablecoin balance on exchanges has evaporated, translating to $21.7 billion. <pre data-stringify-type="pre">  </pre>While the horrors of the <a href="https://coinjournal.net/news/ftx-insolvent-what-next-for-crypto/">FTX collapse</a> may be banished to the back of investors’ minds, the effect on the crypto industry remains real. Alameda was a large market maker in the space, with that hole not filled since. Then there is the psychological impact; crypto’s reputation has taken a ferocious blow, with institutions scaling back perceptibly from the space. This has left liquidity low, and with low liquidity comes more volatility. Moves in either direction are amplified, which is what we saw yesterday. Looking at data from Coinglass, liquidations swelled for both longs and shorts, $180 million…

Hong Kong’s new cryptocurrency licensing framework is expected in May.The Securities and Futures Commission (SFC) chief executive Julia Leung told Bloomberg the guidelines follow a consultative process.Companies seeking to offer services in Hong Kong will need to apply for and get licenses from the commission.Hong Kong is taking the next step in providing further regulatory clarity for cryptocurrencies by releasing its crypto exchange licensing framework.Specifically, the licensing guidelines will require every digital asset service provider and operator to seek and acquire approval from the regulator.Julia Leung, chief executive of Hong Kong’s Securities and Futures Commission (SFC), revealed this on Thursday, telling Bloomberg that the guidelines are expected in May. The legislation is expected to come into effect from June.According to Leung, the digital assets regulation framework comes after a vital consultative process that a policy statement from the government in October last year. The statement highlighted the need to regulate virtual assets, including sectors such as DeFi and NFTs.The SFC reportedly received more than 150 responses from various players, following the consultative process.Hong Kong’s crypto framework comes after EU’s MiCA approvalHong Kong has recently taken an aggressive approach to crypto regulation even as it looks to make itself a leading crypto-friendly jurisdiction. Recent administrative policies have indeed seen the number of companies looking to operate from the city-state jump to near 100.Other than cryptocurrency exchanges, there are multiple projects and platforms in Web3 security, blockchain payments, and infrastructure that are currently eyeing SFC’s licensing.Recently, the European Union parliament voted to approve the Markets in Crypto Act, MiCA regulation, that has been hailed as key to regulatory clarity for the crypto industry in the EU. Many obersers say the law, expected to take effect in 2024, will herald a new era for crypto.The post Hong Kong to release crypto framework next month- Bloomberg appeared first on CoinJournal.

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Merlin is an Ethereum-based decentralized exchange (DEX) which uses zero-knowledge sync (zkSync).The DEX has lost more than $1.8 million in a liquidity pool hack.The hack took place barely hours after smart contract security firm CertiK audited the DEX’s code.Ethereum-based decentralized exchange (DEX) Merlin woke up to bad news on Wednesday morning after a hacker(s) drained the DEX $1.8 million in a liquidity pool hack. The hack happened during a public sale of Merlin’s native token MAGE.The hacker(s) stole several cryptocurrency assets including Ethereum (ETH), USD Coin (USDC), and other illiquid tokens.CertiK had audited Merlin’s codeA few hours after the hack, security firm CertiK tweeted saying that it was investigating the incident to understand its impact on the community. It also said that its initial findings suggest that it could have resulted from an issue with a private key management meaning it was hack and not an exploit as widely thought.CertiK conducted an audit of Merlin’s code on April 24, 2023, and recommended that Merlin improves its “centralized roles to the decentralized mechanism like multi-signature wallets to enhance security practices.” It also asked Merlin to implement a timelock feature with a latency of at least 48 hours to avoid a single point of key management.CertiK also promised to collaborate with appropriate authorities in case anything came up.CertiK to compensate lost assetsWhile urging the hacker, who CertiK believes is a rogue developer, to return 80% of the stolen funds, the security firm offered a 20% white hat bounty to the hacker.In a statement to a renowned media outlet on April 26, CertiK reiterated it is investigating the exit scam and has also enlisted the remaining Merlin team to initiate the compensation plan. The firm said:“CertiK is exploring a community compensation plan to cover the ~$2M of user funds lost in the Merlin DEX rug pull. Initial investigations indicate that the rogue developers are based in Europe, and we are working with law enforcement to track them down.”CertiK also noted that private key privileges are “committed to assisting impacted users” notwithstanding that they are outside the scope of a smart contract audit.The post CertiK planning to compensate Merlin hack victims appeared first on CoinJournal.

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2023 is the year in which the crypto rebound hopefully gets into full swing following a disappointing 2022. One project arousing exceptional interest among investors and trading groups on Reddit and Telegram is AltSignals’ ASI presale. Already a market leader in trading signals, AltSignals has set itself up as arguably one of the best crypto projects to invest in this year due to an exciting adoption of AI technologies designed to turbocharge its trading capabilities.Here’s why investors are scrambling to get their hands on this exciting new coin during its presale event.AltSignals: Assisting crypto gains since 2017<a href="https://token.altsignals.io/?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal_currentevents&news&utm_content=as_presale%20_1&utm_id=178">AltSignals</a> was launched in 2017 and has grown to become one of the leading providers of trading signals for a vast community numbering more than 50,000 members, 1,400 of whom enjoy all the perks of AltSignals’ VIP group. AltSignals has focused on setting itself apart from competitors by ensuring it produces the most accurate trading signals available in crypto, Forex, and stock markets via its market-leading AltAlgo™ trading tool.This algorithmic trading indicator has operated in tandem with a team of leading expert traders to generate more than 1,500 signals for traders scattered across the globe. A Binance Spot signals program in January 2023 saw a 94% win rate across 17 trades, achieving returns of 175% in a single month. This success came hot on the heels of a whopping 384% return in December 2022. AltSignals’ performance is backed up by almost 500 positive reviews on Trustpilot, resulting in a 4.9/5 star rating, making it one of the most-trusted providers of trading signals. Now AltSignals is seeking to take its outstanding platform into another realm with the launch of the ActualizeAI trading stack and ASI coin.What is the ASI token?The ASI token underpins the entire AltSignals’ ecosystem, including the development of ActualizeAI, which will bring a pioneering AI capability to AltSignals. This looks likely to help AltSignals play a significant role in the crypto rebound by harnessing the power of machine learning, natural language processing (NLP), reinforcement learning, and predictive modeling to increase the frequency and accuracy of the platform’s signals.Possession of the ASI coin will open up the actual value of AltSignals’ platform, beginning with the ActualizeAI trading stack and outputs. Community members holding more than 50,000 tokens will be granted lifetime access to ActualizeAI’s signals, while those holding fewer than 50,000 can enjoy a 1-year membership.While this is a huge incentive to get involved in what looks like one of the best new crypto tokens of the year, holding the ASI coin unlocks several premium offers and opportunities for investors and traders to exploit.For instance, ASI coin holders can join the AI Members Club, unlocking early access to some of the best presale opportunities with exciting new crypto projects from AltSignals’ affiliate partners or highlighted by ActualizeAI’s sentiment analysis feature. While opening up potentially rich opportunities to make serious profits, users can also boost their earnings by participating in regular online trading tournaments with lucrative prizes.How high can ASI go in 2023?The release of the ASI token has been deliberately timed to support the development of ActualizeAI’s trading stack, which will drive enormous levels of utility into the coin. In addition, ASI coin holders can vote on community-led initiatives that will govern the platform’s future direction, ensuring it continues to meet the needs of those it serves.This alone would be enough to push the price of ASI higher once it’s released for public consumption. However, ASI has the fortune of being released as the crypto rebound continues to gather momentum, meaning it looks set to reap the full reward of being part of the next bull market in the coming…

DEX aggregator OpenOcean has launched integration with the zk-rollups platform zkSync Era.The move allows the DeFi platform to expand its trading solution to the zkSync Era community.Future plans are to add support for limit orders and cross-chain swaps, OpenOcean said in a press release.OpenOcean, a leading decentralised exchange (DEX) aggregator, has announced integration with Ethereum Layer-2 scaling solution zkSync Era.zkSync’s ZK-rollup proofs allows for major scaling of the Ethereum network, bumping transaction throughput and cutting gas costs. ZK-rollups also help ensure user privacy and security.Announcing the integration via a press release on Thursday, OpenOcean said zk-rollups allows it to expand its multichain, Web3-focused trading solution.The integration also allows OpenOcean’s DEX aggregator to launch on zkSync Era, providing users with access to deep liquidity sources. This will include liquidity from across platforms such as SyncSwap, Velocore, iZiSwap, Mute, SpaceFi and GemSwap. “We warmly welcome OpenOcean to the zkSync community. As an established multichain dex aggregator, users will be able to execute trades efficiently across different liquidity pools and reduce slippage,” Sam, a member of the zkSync team, said in a statement.OpenOcean plans to enhance the integration by supporting limit orders and cross chain swaps aggregation on the zkSync Era.The post DEX aggregator OpenOcean integrates with zkSync Era appeared first on CoinJournal.

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Bit4You is Belgium’s first and only crypto asset lending platform.The platform says one of its main crypto asset custodian, CoinLOan, had been declared insolvent.The insolvency court order against CoinLoan was reportedly issued on Monday, 24 April, 2023 in Estonia.In cryptocurrency news today, Bit4You, the first Belgium-based cryptocurrency lending platform,has announced its suspending its activities.The crypto assets exchange made the announcement in a notice to clients and the community late Wednesday. According to the platform, the decision to halt operations came after it had learned that CoinLoan, its main provider, no longer had the required registration to operate as a virtual currency provider in Estonia.As reported by Reuters on Thursday, an Estonian court declared CoinLoan insolvent on Monday, 24 April, 2023Bit4You says its immediate suspension of activities is one of several steps it is taking as it tries to understand the whole situation. However, the crypto lender says it has no reason to believe that the cryptocurrencies the custody provider held on behalf of its customers cannot be recovered.The post Belgian crypto lender Bit4You suspends its activities appeared first on CoinJournal.

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Kaspa price rose to highs above $0.031 before giving up gains to sit around $0.030.The upside momentum for the altcoin was derailed as major exchange Uphold announced it was delaying the listing of KAS.Uphold says the delay is due to a technical issue that will soon be sorted out.Kaspa (KAS) was among the biggest gainers earlier today as cryptocurrencies looked to bounce following Bitcoin’s sharp decline overnight Wednesday.In the past 24 hours, as BTC looked to reclaim $29,000, the price of Kaspa rose more than 10% to break above $0.031. The upside saw KAS bulls begin to eye the token’s all-time high near $0.043 reached on 2 April 2023.That attempt to put bears in their place is on hold though as one of the major catalysts for the altcoin going up was the impending listing on a major US crypto exchangeUphold delays listing of Kaspa (KAS)On Thursday, Uphold, which was set to be the first centralised crypto exchange in the US to list KAS, announced it would be delaying the listing. The multi-asset digital asset platform said the “difficult decision” had been taken due to technical issues.⚠️ KAS listing delayedWe’ve made the difficult decision to postpone this listing due to technical issues.Our customers deserve a smooth and fair trading experience – and we’re excited to list KAS as soon as we can ensure this. pic.twitter.com/qJGuB2cY4H— Uphold (@UpholdInc) April 27, 2023But despite the delay, Dr. Martin Hiesboeck, the Head of Research at Uphold, has assured KAS holders that the issue was “minor” and will soon be solved. He tweeted:“As we’re expecting *high demand*, we’ve taken the difficult decision to delay this listing due to some technical issues – to ensure you get a smooth and fair trading experience and best execution. Won’t be long, it’s a minor thing we’ll sort out soon.”He offered to explain everything on the Twitter Space.After seeing a double digit uptick in price, with weekly gains rising to over 30%, Kaspa price is just in the green in the past day (at the time of writing) and about 28% higher over the week.Currently, KAS can be traded on multiple exchanges, including MEXC Global, Gate.io and BingX. The token’s recent momentum has come amid a flurry of listings, including on LBank and Bitget.The post Kaspa price: upside cools as major exchange delays KAS listing appeared first on CoinJournal.

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UK’s HM Treasury has outlined tax policy changes targeted at DeFi lending and staking.The proposals are part of a consultation on taxation of activities conducted using crypto assets in DeFi.The new changes are also looking to apply to crypto lending and staking transactions on centralised finance (CeFi) platforms.HM Treasury, the UK’s economic and finance ministry, has announced an open consultation regarding the taxation of decentralised finance (DeFi) activities.Per a publication the government released on Thursday, 27 April 2023, the consultation seeks to have public views on the modification of tax policies to cater to crypto asset related lending and staking – two key activities in the DeFi industry.The objective of the consultation is to help formulate a crypto tax regime for the UK, where taxation DeFi lending and staking “better aligns with the underlying economic substance, whilst reducing the administrative burden on users,” the HM Treasury wrote.HMRC is therefore looking to get feedback from key stakeholders within the DeFi space, including tech and financial firms involved in DeFi, investors, and professionals. Also invited to participate are trade associations, academic institutions, legal firms, and tax advisory firms among others.Crypto tax framework also targets CeFiThe government also says that the consultation seeks to explore legislative changes to overall tax treatment of lending and staking in the industry. The changes, the HM Treasury noted, involve proposals that using cryptocurrencies in DeFi transactions “would no longer be treated as giving rise to a disposal for tax purposes.”Rather, tax disposals will only arise where taxpayers economically dispose of their crypto assets via non-DeFi transactions. The finance ministry added in the announcement:“Although the focus of this document is on DeFi lending and staking, the proposed tax framework outlined below is also intended to apply to the lending and staking of crypto assets which is done through an intermediary. Some industry participants refer to these arrangements as Centralised Finance (CeFi).”HM Treasury’s consultation paper comes amid increased recognition within the government agencies that proper and clear regulatory approach to crypto is needed as the industry grows rapidly. The proposals are likely to form a major part of the UK’s crypto tax guidelines in 2024, the same year the EU’s crypto law MiCA is expected to come into effect.The post UK Treasury opens consultation on taxation of DeFi lending and staking appeared first on CoinJournal.

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PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain.PancakeSwap (CAKE) has dropped by 21% over the last seven days.The DEX’s core team introduced a proposal to reduce the token’s inflation rate to 3-5%.PancakeSwap’s native token, CAKE, has declined by about 21% in the last seven days and 27% in the last 14 days despite PancakeSwap’s core team introducing a proposal to reduce the token’s inflation rate to 3-5% from the current rates above 20%.While the crypto market suffered from the recent bear market across the board, the CAKE token was expected to ride on the proposed inflation-reducing proposal rather than drop. On the contrary, the token has been dropping as stakers move out in numbers.At press time, CAKE was trading at $2.66, up 1.6% over the last 24 hours.Reducing PancakeSwap token inflation ratePancakeSwap recently forked Uniswap V3’s code and launched its version on Aptos and Ethereum. The project’s core team has also introduced a proposal to reduce the native token’s inflation rate to 3-5% from the current rates above 20%.If the proposal is passed, it will see the amount of tokens that stakers earn lowered something that could be the reason behind the recent exodus of stakers from PancakeSwap.But why should the team suggest a proposal that is detrimental to the project’s ecosystem? Well, the proposal reads:“Current inflation rates are unsustainable for CAKE over the long term, and reductions are required for the long-term health of PancakeSwap.”Voting on the proposal already began on April 26 and it is scheduled to end today April 28. So far, the numbers show that the community is in support of the aggressive proposal. 55.43% have voted for the proposal compared to only 8.10% who have voted against the proposal although the voting process is still open.The post CAKE down 21% as PancakeSwap mulls slashing staking rewards appeared first on CoinJournal.

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iZUMi Finance is a one-stop Liquidity-as-a-Service (LaaS) DeFi protocol.The funds will support the early liquidity of its on-chain Order Book decentralized exchange product, iZiSwap Pro.iZiSwap Pro DEX is built on on zkSync Era network.iZUMi Finance has successfully completed a $22M funding round to support the early liquidity of its on-chain Order Book decentralized exchange (DEX) product, iZiSwap Pro on the zkSync Era network.Several heavyweights including Unicode Digital, NextGen Digital Venture, Bella Protocol, Incuba Alpha, and other individual investors participated in the funding round, which is the largest funding round in the history of the zkSync Era ecosystem.iZUMi Finance and Solv Protoco partnershipIn one way or another, the success of the just concluded financing can be attributed to iZUMi Finance’s strategic partnership with Solv Protocol.Through the partnership, iZUMi was able to adopt an innovative fundraising approach where it issued issued “iZUMi zk-Fund” via Solv V3, the latest paradigm protocol of Solv Protocol.The “iZUMi zk-Fund” is a type of digital asset known as a Semi-fungible Token (SFT), based on Solv’s original ERC-3525 token standard. When investors purchase the fund, they receive an SFT in their wallet, representing their share making them Limited Partners (LPs).The SFTs have a cover image, like NFTs, and are computable like ERC-20 Tokens. Investors can track real-time Profit and Loss (PnL) and Net Asset Value (NAV) in a fully visualized dashboard. Upon maturity, LPs can redeem their SFTs to claim their principal.The iZUMi Finance iZiSwap Pro DEXThe iZiSwap Pro DEX is one of the renowned products of iZUMi Finance. It is an AMM-driven Order Book DEX that adopts iZUMi’s innovative Discretized Liquidity AMM (DL-AMM) model.The DEX has Peer-to-pool and AMM designs, which greatly reduce the transaction cost for the on-chain order book. It also offers zero slippage which in a way prevent MEV attack with decentralized limit orders.With the funding obtained from the just concluded funding round, iZUMi Finance will now launch the iZiSwap Pro DEX on zkSync Era, which is a zero-knowledge-based Ethereum Layer 2 solution. The funds will support the early liquidity of iZiSwap Pro on zkSync Era.The post iZUMi Finance closes $22M funding round for its iZiSwap Pro DEX on zkSync Era appeared first on CoinJournal.

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Japan’s financial authorities had issued a warning that Binance was operating in the country without permission.Binance acquired Sakura Exchange BitCoin (SEBC) in November 2022.Existing services on SEBC will be terminated for new service under the provisional name “Binance Japan” to be issued.As Binance continues to expand its business in Asia, it is set to begin operations in Japan in June according to a notice published by the exchange on Friday.At the moment, Binance is the largest cryptocurrency exchange in the world by market capitalization even after the recent crackdown on its US arm, Binance.US, by authorities in the United States. It is set to use the recently acquired Japanese crypto exchange called Sakura Exchange BitCoin (SEBC) to offer crypto services in the Japanese market.Launch of Binance JapanBinance has been working to restructure the SEBC exchange and the existing services on SEBC are scheduled for termination on May 31, 2023, after which the exchange will be renamed “Binance Japan.”The new Binance Japan is scheduled to start operations after June 2023 according to the notice issued by the Japanese branch of Binance.Listing cryptocurrencies on crypto exchanges in Japan requires vetting by the Japan Virtual Currency Exchange Association and the SEBC exchange currently supports 11 cryptocurrency trading pairs.Japan’s crypto exchanges regulationsJapan has a high regulatory standard for crypto exchanges which requires the segregation of customer and exchange assets. The regulations also require that most of an exchange’s assets be kept in cold wallets and customers’ fiat funds to be kept by a Japanese trust company or bank trust.In 2021, Japan’s financial authorities issued a warning that Binance was operating in the country without permission prompting Binance to look for a local cryptocurrency exchange. With the complete rebranding of the SEBC, Binance will gain full regulatory status in Japan.The post Binance set to begin operations in Japan in two months’ time appeared first on CoinJournal.

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This is the largest fraud case involving Bitcoin that CFTC has cracked so far.The case involved the CEO of Mirror Trading International Proprietary Limited (MTI).Half of the $3.4B will go toward providing restitution to victims of MTI’s fraudulent activities.A Texas court has ordered Johannes Steynberg, the CEO of Mirror Trading International Proprietary Limited (MTI) to pay a $3.4 billion penalty in connection with a large-scale fraud case involving Bitcoin.According to the CFTC allegations, Steynberg engaged in an international fraudulent multilevel marketing scheme (MLM) to ask for bitcoins from the public for an unregistered commodity pool operated by the South Africa-based company MTI.Steynberg who was controlling MTI and the company falsely claimed to trade off-exchange retail forex through a proprietary “bot” or software program between May 2018 and approximately March 2021.The final judgment read:“Either directly or indirectly, the defendants misappropriated all of the Bitcoin they accepted from pool participants.”According to the CFTC Steynberg, individually and as the principal and agent of MTI, accepted at least 29,421 bitcoins, valued at over $1.7 billion at the time. The bitcoin was obtained from at least 23,000 individuals in the US and other countries around the world. The individuals were tricked to participate in the commodity pool although MTI was not registered as a commodity pool operator (CPO), as required by the law.Steynberg arrestSteynberg was arrested in December 2021 and has been held in Brazil on an Interpol arrest warrant since then.Besides the recent charges against him by the CFTC, Steynberg is also permanently banned from registering with the CFTC or trading in any CFTC-regulated markets.Restituting MTI’s victimsHalf of the $3.4 billion penalty will go towards providing restitution to the victims of MTI’s fraudulent activities. The other half is a civil penalty, which is the highest civil penalty to be ordered in any CFTC case.The CFTC has however conceded that “orders requiring payment of funds to victims may not result in the recovery of any money lost because wrongdoers may not have sufficient funds or assets.”The post CFTC wins a record $3.4B penalty payment in a Bitcoin-related fraud case appeared first on CoinJournal.

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Key takeawaysFindora has launched its Triple Masking ZK SDK solution.The solution empowers developers to integrate ZK privacy features into their dApps. With Findora Triple Masking ZK SDK, developers can ensure their users enjoy privacy and convenience. Findora’s Triple Masking ZK SDKFindora, an innovative Layer-1 blockchain, has announced the launch of the Findora Triple Masking SDK, a universal privacy-preserving solution set for Web3.In a press release shared with Coinjournal, the team said the Findora Triple Masking SDK gives developers a simple way to integrate zero-knowledge proofs into their decentralised applications. Thanks to the launch of this product, users can conduct private transactions that remain auditable, with multiple options for what information is masked or remains transparent. The Findora Triple Masking SDK provides simple, plug-and-play privacy for every Web3 dApp, the team added. While commenting on this latest cryptocurrency news,  Sam Harrison, CEO of Discreet Labs, said;“Triple Masking fulfills a promise that blockchain technology made years ago: your financial status, your financial future, is no longer in the hands of some unknown, so-called “trusted” third party. It’s in your hands. This SDK simplifies the developer experience of implementing complicated zk-proofs, which in turn enables more decentralized applications to offer the benefits of these zk-proofs to their users.” He added that he is excited to see the choices developers can offer their users that would ensure that they enjoy both convenience and privacy. Findora empowers dApps to be ZK-enabled The Findora team added that the Masking SDK is a privacy-focused asset transfer solution supported on the Findora Network that provides full-privacy protection and anonymity for transactions rather than simple pseudonymity. The solution makes it possible for developers to make their dApps ZK-enabled, with optional transaction privacy at three levels. Users will have the option to mask the wallet addresses of the sender and receiver, the type of assets involved, and the amount sent. Furthermore, transactions carried out using the Findora  Triple Masking ZK SDK will remain auditable to ensure compliance with regulatory entities. Harrison added that;“Triple Masking is more than simply encrypting information. We are also offering the ability to trace assets in a way that complies with existing regulations and analysis tools. This way, Triple Masking solves both the privacy AND compliance requirements of a professional institution.”The Findora team said its compatibility with the secp256k1 curve would enable common EVM wallets, such as MetaMask, to sign a transaction.Findora is a public blockchain with programmable privacy. Findora utilises the latest breakthroughs in zero-knowledge proofs and multi-party computation, to allow users transactional privacy with selective auditability. The post Findora launches its Triple Masking ZK SDK to boost privacy and auditability for dApps appeared first on CoinJournal.

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