More Crypto Exchanges are Verifying Reserves, is Proof of Reserves the Solution?
In the wake of the FTX collapse, which happened because the now-defunct cryptocurrency exchange used customer money to cover its risks, cryptocurrency exchanges came up with proof-of-reserves to clarify transactions.
Without clear rules, Binance CEO Changpeng Zhao recently pushed for a practice that gives exchanges a way to show users that they are more honest. A Proof of Reserves (PoR) audit verifies that a custodian has the client funds it claims to have. The auditor takes a snapshot of all accounts and arranges together a Merkle tree to protect users’ privacy. Once the snapshot has been taken, the auditor will have a Merkle root, a cryptographic fingerprint specific to the sum of these accounts as of the snapshot’s creation time.
In the wake of the FTX collapse, which happened because the now-defunct cryptocurrency exchange used customer money to cover its risks, cryptocurrency exchanges came up with proof-of-reserves to clarify transactions.
Without clear rules, Binance CEO Changpeng Zhao recently pushed for a practice that gives exchanges a way to show users that they are more honest. A Proof of Reserves (PoR) audit verifies that a custodian has the client funds it claims to have. The auditor takes a snapshot of all accounts and arranges together a Merkle tree to protect users’ privacy. Once the snapshot has been taken, the auditor will have a Merkle root, a cryptographic fingerprint specific to the sum of these accounts as of the snapshot’s creation time.
Economist Peter Schiff Warns the Fed Could Be Fighting ‘Complete Economic Collapse’
Economist Peter Schiff has predicted that the U.S. Federal Reserve will ultimately throw in the towel on its inflation fight to confront “something it fears even more, which is a complete economic collapse, another financial crisis, or a sovereign debt crisis.” He stressed, “The months of declining inflation are in the review mirror,” emphasizing that now “we’re going to see accelerating inflation.”
Peter Schiff on Potential Economic CollapseEconomist and gold bug Peter Schiff shared some dire warnings about where the U.S. economy is headed and the consequences of the Federal Reserve’s fight against inflation in an interview with Greg Hunter on the USAWatchdog show, published Saturday.
Citing recent economic data, including the personal consumption expenditures price index which rose 0.6% in January, Schiff said: “The months of declining inflation are in the review mirror. And now we’re going to see accelerating inflation as measured by these government indexes.”
Economist Peter Schiff has predicted that the U.S. Federal Reserve will ultimately throw in the towel on its inflation fight to confront “something it fears even more, which is a complete economic collapse, another financial crisis, or a sovereign debt crisis.” He stressed, “The months of declining inflation are in the review mirror,” emphasizing that now “we’re going to see accelerating inflation.”
Peter Schiff on Potential Economic CollapseEconomist and gold bug Peter Schiff shared some dire warnings about where the U.S. economy is headed and the consequences of the Federal Reserve’s fight against inflation in an interview with Greg Hunter on the USAWatchdog show, published Saturday.
Citing recent economic data, including the personal consumption expenditures price index which rose 0.6% in January, Schiff said: “The months of declining inflation are in the review mirror. And now we’re going to see accelerating inflation as measured by these government indexes.”
EOS Price Analysis: Bulls Aim $1.30 Once Again
EOS price is rising above $1.15 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.220 and $1.232 resistance levels.
EOS Price AnalysisThis past week, EOS price found support near the $1.08 support against the US Dollar. The price traded as low as $1.0731 and the price started a fresh increase.
The price gained pace and climbed above the $1.12 and $1.15 resistance levels. EOS price traded above the 50% Fib retracement level of the last key drop from the $1.3136 swing high to $1.0731 low. Besides, there was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
EOS price is rising above $1.15 against the US Dollar, similar to bitcoin. The price could resume its increase if it clears the $1.220 and $1.232 resistance levels.
EOS Price AnalysisThis past week, EOS price found support near the $1.08 support against the US Dollar. The price traded as low as $1.0731 and the price started a fresh increase.
The price gained pace and climbed above the $1.12 and $1.15 resistance levels. EOS price traded above the 50% Fib retracement level of the last key drop from the $1.3136 swing high to $1.0731 low. Besides, there was a break above a key bearish trend line with resistance near $1.18 on the 4-hours chart of the EOS/USD pair.
German Stock Exchange Boerse Stuttgart to Provide Crypto Custody Through Licensed Subsidiary
Blocknox, a subsidiary of one of Europe’s largest stock exchanges, Boerse Stuttgart, has been licensed to operate as a crypto custodian in Germany. The authorization will allow the company to offer custody services for digital assets to institutional investors across the Old Continent.
Boerse Stuttgart Subsidiary Blocknox to Offer Crypto Custody Services Under Bafin LicenseGermany’s second-largest stock exchange and one of the largest in Europe, Boerse Stuttgart, will be able to provide European banks, brokers, asset managers, and family offices with both trading and custody solutions for their crypto asset offerings.
Its subsidiary, Blocknox, which is part of the Boerse Stuttgart Digital division, has received the final license for its operations as a crypto custodian from the Bundesrepublik’s Federal Financial Supervisory Authority (Bafin), a press release revealed.
Blocknox, a subsidiary of one of Europe’s largest stock exchanges, Boerse Stuttgart, has been licensed to operate as a crypto custodian in Germany. The authorization will allow the company to offer custody services for digital assets to institutional investors across the Old Continent.
Boerse Stuttgart Subsidiary Blocknox to Offer Crypto Custody Services Under Bafin LicenseGermany’s second-largest stock exchange and one of the largest in Europe, Boerse Stuttgart, will be able to provide European banks, brokers, asset managers, and family offices with both trading and custody solutions for their crypto asset offerings.
Its subsidiary, Blocknox, which is part of the Boerse Stuttgart Digital division, has received the final license for its operations as a crypto custodian from the Bundesrepublik’s Federal Financial Supervisory Authority (Bafin), a press release revealed.
Crypto Executive Do Kwon Arrested in Montenegro
Do Kwon – the crypto executive behind the Terra USD collapse that occurred in the summer of 2022 – has been arrested and taken into custody.
Do Kwon Has Reportedly Been Taken InKwon has allegedly been a fugitive these past few months. He was apprehended in the European nation of Montenegro, where he was found to be holding phony passports and documentation. The country’s interior minister Filip Adzic issued the following statement:
Montenegrin police have detained a person suspected of being one of the world’s most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs. The former ‘cryptocurrency king’, who is behind losses of more than 40 billion dollars, was detained at the Podgorica airport with falsified documents, and South Korea, the USA, and Singapore are demanding [his extradition].
Do Kwon – the crypto executive behind the Terra USD collapse that occurred in the summer of 2022 – has been arrested and taken into custody.
Do Kwon Has Reportedly Been Taken InKwon has allegedly been a fugitive these past few months. He was apprehended in the European nation of Montenegro, where he was found to be holding phony passports and documentation. The country’s interior minister Filip Adzic issued the following statement:
Montenegrin police have detained a person suspected of being one of the world’s most wanted fugitives, South Korean citizen Do Kwon, co-founder and CEO of Singapore-based Terraform Labs. The former ‘cryptocurrency king’, who is behind losses of more than 40 billion dollars, was detained at the Podgorica airport with falsified documents, and South Korea, the USA, and Singapore are demanding [his extradition].
Fuck memecoins, says PSYCHO. Yep, you heard that right. Here's why it got our attention:
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
• Provocative? Absolutely, PSYCHO ain't afraid to challenge the status quo.
• Strong community? 100%. Bunch of defiant spirits rallying behind the coin. Our kind of crowd.
Launched? May 29th
• Results so far? 750 holders, $3.5m market cap.
• CEX listing? First listing on MEXC today at 12pm UTC.
• Next CEXs? They are in contact with Bybit, Huobi, OKX
• Tokenomics? Crystal clear. 90% for DEX liquidity, 5% for CEX, 5% for the community. No BS.
DYOR, but from my side, this might be a massive pump. Don't forget to thank me later.
🧿 Rating: coinmarketcap
💰 Buy: uniswap, mexc
🐦 Follow: twitter
The Fision Uses Blockchain to Ensure the Trustfulness of Its Clothing Line
A company called The Fision is using blockchain to create new apparel. T-shirts, to be precise. The firm creates the shirts and sends them out to potential buyers. The big clincher is that they’re made only from trustfully sourced cotton, and blockchain technology is utilized to ensure that all the shirts sent out are fully transparent and traceable from the beginning.
The Fision Is Using BlockchainJosh Gelder – CEO of The Fision – explained in a statement:
Our team is comprised of industry veterans and fueled by a desire to communicate the truth about the environmental and societal costs of the current industry. We see the future of fashion being transparent, and we came together to embark on making real industry change that aligns with our mission-driven values. We hope to showcase to consumers and to our peers alike what is possible utilizing tomorrow’s technologies today so that it becomes the industry norm of the future. We aim to inspire change, to share what we uncover, and to encourage all brands to do the same.
A company called The Fision is using blockchain to create new apparel. T-shirts, to be precise. The firm creates the shirts and sends them out to potential buyers. The big clincher is that they’re made only from trustfully sourced cotton, and blockchain technology is utilized to ensure that all the shirts sent out are fully transparent and traceable from the beginning.
The Fision Is Using BlockchainJosh Gelder – CEO of The Fision – explained in a statement:
Our team is comprised of industry veterans and fueled by a desire to communicate the truth about the environmental and societal costs of the current industry. We see the future of fashion being transparent, and we came together to embark on making real industry change that aligns with our mission-driven values. We hope to showcase to consumers and to our peers alike what is possible utilizing tomorrow’s technologies today so that it becomes the industry norm of the future. We aim to inspire change, to share what we uncover, and to encourage all brands to do the same.
The owner of this channel has been inactive for the last 11 months. If they remain inactive for the next 27 days, they may lose their account and admin rights in this channel. The contents of the channel will remain accessible for all users.
Is Crypto Spring Finally Here? Bitcoin Reaches One Year High As Altcoins Eye Comeback
The price of cryptocurrencies has significantly increased in recent weeks, with Bitcoin reaching a one-year high of $31,344, according to data from CoinMarketCap. The leading digital currency recently rose to a level last seen in June 2022, and many investors and enthusiasts believe this could herald the beginning of the long-awaited Crypto Spring.
The price of cryptocurrencies has significantly increased in recent weeks, with Bitcoin reaching a one-year high of $31,344, according to data from CoinMarketCap. The leading digital currency recently rose to a level last seen in June 2022, and many investors and enthusiasts believe this could herald the beginning of the long-awaited Crypto Spring.
JPMorgan: SEC Approval of Spot Bitcoin ETF Unlikely To Be A Game Changer
Wall Street giant JPMorgan believes that a spot Bitcoin ETF in the United States won’t have the impact that the crypto and TradFi communities believe it will. According to a JPMorgan strategist, the Securities and Exchange Commission’s seal of approval for firms in the U.S. to offer spot BTC ETFs is unlikely to be a game changer for the crypto market.
Spot Bitcoin ETFs Would Add Liquidity And Price TransparencyAccording to a report by Bloomberg, JPMorgan strategist Nikolaos Panigirtzoglou stated in a note earlier today that the SEC’s approval for a spot BTC ETF is unlikely to be a game changer. The strategist pointed out that similar products have been offered in European and Canadian markets for years and have failed to attract significant investment. The strategist believes that the optimism and hype around such an exchange-traded fund will get a reality check once it hits the American crypto market.
Bitcoin funds overall, including futures-based and physically backed funds, have attracted little investor interest since Q2 2021, also failing to benefit from investor outflows from gold ETFs over the past year or so.”
Wall Street giant JPMorgan believes that a spot Bitcoin ETF in the United States won’t have the impact that the crypto and TradFi communities believe it will. According to a JPMorgan strategist, the Securities and Exchange Commission’s seal of approval for firms in the U.S. to offer spot BTC ETFs is unlikely to be a game changer for the crypto market.
Spot Bitcoin ETFs Would Add Liquidity And Price TransparencyAccording to a report by Bloomberg, JPMorgan strategist Nikolaos Panigirtzoglou stated in a note earlier today that the SEC’s approval for a spot BTC ETF is unlikely to be a game changer. The strategist pointed out that similar products have been offered in European and Canadian markets for years and have failed to attract significant investment. The strategist believes that the optimism and hype around such an exchange-traded fund will get a reality check once it hits the American crypto market.
Bitcoin funds overall, including futures-based and physically backed funds, have attracted little investor interest since Q2 2021, also failing to benefit from investor outflows from gold ETFs over the past year or so.”
The owner of this channel has been inactive for the last 11 months. If they remain inactive for the next 20 days, they may lose their account and admin rights in this channel. The contents of the channel will remain accessible for all users.
The owner of this channel has been inactive for the last 11 months. If they remain inactive for the next 9 days, they may lose their account and admin rights in this channel. The contents of the channel will remain accessible for all users.
Price Predictions for XRP Appear Largely Bullish Amid Outlook for ‘$50 Price’ Following Gemini Glitch
Gemini Cryptocurrency exchange has officially listed XRP on its platform.
The New York-based exchange made this known on Thursday in an official announcement. XRP holders can access USD trading pairs on its API/FIX and ActiveTrader application.
“We are delighted to announce support for XRP Ledger (XRP), adding a new blockchain to Gemini’s growing list of supported networks! XRP is now available for trading on our API/FIX and ActiveTrader applications for USD trading pairs and on the Gemini Mobile App and website for USD, GBP, EUR, CAD, SGD, HKD, and AUD pairs!” The announcement read.
Gemini Cryptocurrency exchange has officially listed XRP on its platform.
The New York-based exchange made this known on Thursday in an official announcement. XRP holders can access USD trading pairs on its API/FIX and ActiveTrader application.
“We are delighted to announce support for XRP Ledger (XRP), adding a new blockchain to Gemini’s growing list of supported networks! XRP is now available for trading on our API/FIX and ActiveTrader applications for USD trading pairs and on the Gemini Mobile App and website for USD, GBP, EUR, CAD, SGD, HKD, and AUD pairs!” The announcement read.
Bitcoin Printing Fakeout Rally Into Death Cross, Says Top Crypto Analyst Benjamin Cowen – Here Are His Targets
Crypto strategist Benjamin Cowen says that Bitcoin (BTC) will experience brief moments of bullishness even as the overall trend remains bearish.
Cowen tells his 787,000 YouTube subscribers that after the death cross formed earlier this week, the flagship crypto asset could still witness “occasional rallies.”
Crypto strategist Benjamin Cowen says that Bitcoin (BTC) will experience brief moments of bullishness even as the overall trend remains bearish.
Cowen tells his 787,000 YouTube subscribers that after the death cross formed earlier this week, the flagship crypto asset could still witness “occasional rallies.”
This Is Where the United States Ranks in Terms of Global Crypto Adoption, According to Chainalysis
Blockchain analysis firm Chainalysis is unveiling the 2023 Global Crypto Adoption Index in a new report.
According to Chainlysis, the United States ranks fourth globally with regard to crypto adoption, behind India, Nigeria and Vietnam.
The United States and Canada are the only countries from North America in the top 20. Canada is ranked 19th in the 2023 Global Crypto Adoption Index.
Blockchain analysis firm Chainalysis is unveiling the 2023 Global Crypto Adoption Index in a new report.
According to Chainlysis, the United States ranks fourth globally with regard to crypto adoption, behind India, Nigeria and Vietnam.
The United States and Canada are the only countries from North America in the top 20. Canada is ranked 19th in the 2023 Global Crypto Adoption Index.
DATE AI Show: Unveiling Saudi Arabia’s Global AI Influence
The DATE AI Show, co-located with DATE FinTech Show, is scheduled for December 11th and 12th, 2023 in Riyadh, bringing leading AI experts, innovators, investors, policy makers and entrepreneurs to showcase the Kingdom’s role in the global AI-led digital transformation.
Saudi Arabia, December 5, 2023 — Saudi Arabia is solidifying its role as the vanguard of the MENA region’s digital economic transformation. Recent years have witnessed the Kingdom invest heavily in its technology sector, aligned with the objectives of its Vision 2030 agenda, with a special focus on emerging technologies, such as AI. According to a PwC report, Saudi Arabia’s AI landscape is forecasted to become a major contributor to the national GDP, with an expected growth rate reaching 12.4 per cent (amounting to US$ 135.2 billion) by 2030.
The DATE AI Show, co-located with DATE FinTech Show, is scheduled for December 11th and 12th, 2023 in Riyadh, bringing leading AI experts, innovators, investors, policy makers and entrepreneurs to showcase the Kingdom’s role in the global AI-led digital transformation.
Saudi Arabia, December 5, 2023 — Saudi Arabia is solidifying its role as the vanguard of the MENA region’s digital economic transformation. Recent years have witnessed the Kingdom invest heavily in its technology sector, aligned with the objectives of its Vision 2030 agenda, with a special focus on emerging technologies, such as AI. According to a PwC report, Saudi Arabia’s AI landscape is forecasted to become a major contributor to the national GDP, with an expected growth rate reaching 12.4 per cent (amounting to US$ 135.2 billion) by 2030.
Bitcoin Touches $48,800 As Spot ETFs Start Trading — $50,000 BTC Soon?
Bitcoin neared the $49,000 mark Thursday after the U.S. Securities and Exchange Commission approved spot bitcoin exchange-traded funds (ETFs), a landmark decision for the crypto space that could dramatically widen the investor base for the alpha cryptocurrency.
Bitcoin soared to as high as $48,844, up from just below $46,000 before the approval news emerged on Wednesday afternoon.
Bitcoin Pops 9% As Ether Hits $2.6KBitcoin is up roughly 8.9% today in the wake of U.S. regulators’ approval of the first spot Bitcoin ETFs.
The groundbreaking vehicles were finally given the green light on Wednesday, a decade after they were first proposed. They commenced trading on Thursday.
Bitcoin neared the $49,000 mark Thursday after the U.S. Securities and Exchange Commission approved spot bitcoin exchange-traded funds (ETFs), a landmark decision for the crypto space that could dramatically widen the investor base for the alpha cryptocurrency.
Bitcoin soared to as high as $48,844, up from just below $46,000 before the approval news emerged on Wednesday afternoon.
Bitcoin Pops 9% As Ether Hits $2.6KBitcoin is up roughly 8.9% today in the wake of U.S. regulators’ approval of the first spot Bitcoin ETFs.
The groundbreaking vehicles were finally given the green light on Wednesday, a decade after they were first proposed. They commenced trading on Thursday.
Cardano (ADA) Price Analysis: Signs Suggest Rally To $0.65
Cardano price is rising above $0.540 against the US Dollar, like Bitcoin. ADA price could rally further if there is a clear move above the $0.5680 resistance.
Cardano Price AnalysisThis week, Cardano price started a steady increase above the $0.500 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.5320 and $0.540 levels.
The bulls were able to pump the price above the $0.550 resistance. The price even spiked above the $0.560 resistance. A high is formed near $0.5687 and the price is now consolidating gains. It is trading below the 23.6% Fib retracement level of the upward move from the $0.5308 swing low to the $0.5687 high.
Cardano price is rising above $0.540 against the US Dollar, like Bitcoin. ADA price could rally further if there is a clear move above the $0.5680 resistance.
Cardano Price AnalysisThis week, Cardano price started a steady increase above the $0.500 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.5320 and $0.540 levels.
The bulls were able to pump the price above the $0.550 resistance. The price even spiked above the $0.560 resistance. A high is formed near $0.5687 and the price is now consolidating gains. It is trading below the 23.6% Fib retracement level of the upward move from the $0.5308 swing low to the $0.5687 high.
BTCS Reveals Innovative Crypto Product Lineup
BTCS Inc. (Nasdaq: BTCS), a seasoned player in the blockchain and cryptocurrency landscape, has been steadily carving a niche for itself among public blockchain companies through strategic technological advancements and astute financial management.With a legacy of spearheading early blockchain technologies in the public markets, the company has expanded its repertoire to include new products for Ethereum block-building.
This ambitious 2024 product roadmap is headlined by an evolving version of its StakeSeeker platform and the launch of Builder+, an Ethereum block builder.
BTCS Inc. (Nasdaq: BTCS), a seasoned player in the blockchain and cryptocurrency landscape, has been steadily carving a niche for itself among public blockchain companies through strategic technological advancements and astute financial management.With a legacy of spearheading early blockchain technologies in the public markets, the company has expanded its repertoire to include new products for Ethereum block-building.
This ambitious 2024 product roadmap is headlined by an evolving version of its StakeSeeker platform and the launch of Builder+, an Ethereum block builder.
JizzLord Meme Coin’s Rapid Rise Following Presale Success
Coinscribble – March 22, 2024 / The Solana meme coin world is buzzing again, this time with the debut of the JizzLord token ($JIZLRD) and its significant liquidity pool (LP).
$JIZLRD’s LP event follows the meme coin’s highly successful pre-sale, which closed on March 20. The pre-sale exceeded its initial goal by garnering 1301 $SOL.
Coinscribble – March 22, 2024 / The Solana meme coin world is buzzing again, this time with the debut of the JizzLord token ($JIZLRD) and its significant liquidity pool (LP).
$JIZLRD’s LP event follows the meme coin’s highly successful pre-sale, which closed on March 20. The pre-sale exceeded its initial goal by garnering 1301 $SOL.