Month: October 2020

Tomorrow marks 12 years since Satoshi Nakamoto distributed a link to a whitepaper entitled Bitcoin: A Peer-to-Peer Electronic Cash System via a cypherpunk cryptography mailing list, and the world has never been the same since. As the first-ever cryptocurrency is about to celebrate the twelfth anniversary of the whitepaper’s historic release, tomorrow could also be the first monthly close above $12,000 since December 2017 – the only other time it has done so, before coming to a peak and starting Read more …

During 2020, the decentralized finance (DeFi) market has grown considerably, with billions of dollars being locked in smart contracts. While it’s crystal clear that DeFi protocols are here to stay, they require a blockchain network that’s capable of scaling accordingly.  Many have hoped that Ethereum would provide the required infrastructure, but the project has failed to adapt to the new market demands in due time. Consequently, new protocols are actively being built to help sustain the booming DeFi economy. These Read more …

The US Securities and Exchange Commission (SEC) will enhance the regulatory framework for derivatives use by registered investment companies after passing a vote to either change or amend existing rules. As part of the new framework–which covers mutual funds, exchange-traded funds (ETFs), and closed-end funds–operators must undertake to implement a written derivatives risk management program. A Modern Approach to Derivatives Regulation The rule changes, which open the doors for more leveraged ETFs, will also permit a fund to enter into Read more …

A new report jointly developed by DappRadar and Monday Capital analyzes the token distribution and governance proposals seen in major DeFi protocols. Despite efforts to decentralize control in the yield farming phase, the researchers maintain that many projects — especially those with strong venture capital roots — remain highly centralized. The researchers analyzed projects like MakerDAO (MKR), Curve (CRV), Compound (COMP) and Uniswap (UNI). All present a significantly skewed token distribution that favors large holders. The analysts noted that Maker Read more …

On the heels of PayPal announcing its decision to enter the crypto sector early next year, Bitcoin (BTC) has continued its strong performance and has been hovering around the $13,500 mark for nearly a week now. In this regard, the payment giant’s foray into the crypto market has been hailed as a game changer, especially when it comes to improving the mainstream perception of the digital asset industry as a whole. Not only that, JPMorgan Chase announced that its native Read more …

Bitcoin has every likelihood of touching its previous record high of $20,000. But, one should not expect it to happen in early 2021, says a TradingView analyst. The pseudonymous entity, operating under the alias of ‘XForceGlobal,’ said the significant upside move is “highly unrealistic,” given the public interest in Bitcoin is nowhere near the Google trend levels of late 2017/early 2018. Additionally, the market lacks the hype that propelled the cryptocurrency to $20,000 earlier. That is visible in the lack of Read more …

INX, a global digital asset trading platform, is expanding its ongoing initial public offering with listings on exchanges worldwide. In a move to boost the liquidity in its $117 million IPO, INX has applied with the Canadian Securities Exchange to list its security token. The listing application is subject to the approval of the CSE, according to an Oct. 30 announcement from INX. According to INX’s representatives, the company expects to list the INX token on many other global exchanges, Read more …

Major private-owned Russian bank Gazprombank has received regulatory approval to launch cryptocurrency custody services through its Swiss subsidiary. According to an official announcement on Oct. 29, the bank scored approval from the country’s financial regulator, the Swiss Financial Market Supervisory Authority, to offer crypto custody and trading services to its institutional and corporate clients. Offerings will initially be restricted to a select group of customers with Bitcoin (BTC) as the only supported cryptocurrency. Gazprombank plans to gradually expand the offering Read more …

IOHK fired up the Cardano community by releasing details of the Goguen roadmap yesterday. After the successful rollout of Shelley, many look to Goguen as the final hurdle before challenging Ethereum on level ground. The roadmap puts the Goguen mainnet launch at around March 2021. Considering the frequent delays to Shelley, this represents an ambitious but welcome call. Source: twitter.com Cardano Gunning For Ethereum Goguen is a significant leap forward in the capabilities of the Cardano network. With it comes Read more …

Crypto startup Avanti Financial Group has been granted a license to offer banking services by the Wyoming State Banking Board. The license, or bank charter, means Avanti can now operate as a conventional bank – but one with a twist, capable of holding both crypto and dollars. It plans to launch in 2021. According to a statement published Oct. 28, the firm will also now be able to take custody of crypto assets like bitcoin while its plan for the Read more …

A splendid beginning for Yearn Finance in the third quarter is coming to an end with a brutal sell-off. The yield farming aggregator suffered a major blow this week as its governance token, YFI, plunged by 39 percent. In the last 24 hours alone, the cryptocurrency experienced a 10.35 percent price decline, a move that also saw it taking a brief dip below $10,000 – towards $9,600 – before recovering back above the five-figure valuation. But that did not take Read more …

Huawei has announced that its forthcoming Mate40 smartphone series will include an integrated hardware wallet for China’s central bank digital currency, the digital yuan. This will be the first smartphone to feature such a wallet, according to an official Huawei post on Chinese microblogging website Weibo on Oct. 30. The post also promises that users will be able to control and protect their anonymity and perform dual offline transactions. These enable mobile phone users to transfer funds simply by touching their Read more …