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Monday, September 20, 2021

Following SEC notice, Coinbase abandons plan for crypto lending program

U.S.-based cryptocurrency exchange Coinbase has announced it will not be pursuing its Lend crypto lending program.In a Sept. 17 update to a blog announcing the program in June, Coinbase hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring the crypto lending product to the market. According to the exchange, “hundreds of...

El Salvador Buys More Bitcoin — Country Now Holds 700 BTC – Featured Bitcoin News

El Salvador, the country that made bitcoin legal tender alongside the U.S. dollar, has purchased more bitcoin. The Salvadoran government now holds 700 coins, according to President Nayib Bukele. El Salvador Buys the Dip El Salvador’s president, Nayib Bukele, announced early Monday morning that his government has purchased 150 more bitcoins. The country’s bitcoin law went into effect on Sept....

Ethereum killers or just pretenders? Ethereum remains king for now

The term “Ethereum killer” is beginning to pick up the pace once again in the cryptocurrency markets as the native tokens of several competing blockchain networks are posting significant gains during September. For any alternative network to be considered as a part of this category, it needs to have one essential feature that serves as the backbone of...

US as an anatomical theater of crypto regulation, Sept. 13–20

Fall is traditionally the open season for United States financial regulators. The thicket of news coming out of Capitol Hill, federal courts and various regulatory agencies can feel overwhelming around this time, especially for those of us residing outside of these venerable institutions’ purview. It is also clear that the outcomes of these legal battles will have tremendous...

Largest NFT Market by Volume Opensea Launches Smartphone Application – Bitcoin News

On September 17, the largest non-fungible token (NFT) marketplace in terms of volume, Opensea, announced the launch of the platform’s mobile application. Opensea marketplace users can now access a wide variety of NFT collections on their smartphones by downloading the application from Apple’s App Store or the Google Play store. Opensea Launches Mobile App for iOS and Android...

Here Are the Best Case Scenarios for Cardano, According to Crypto Analyst Benjamin Cowen

Popular crypto analyst and trader Benjamin Cowen is revealing what he thinks are the best-case scenarios for Cardano (ADA). In a new strategy session, Cowen says that one possible scenario for ADA is a slow grind around the 20-week simple moving average (SMA) before making another leg higher from its current prices.   “A more realistic approach for ADA but still...

Nigerian Central Bank Threats Force Parallel Exchange Rate Tracker to Suspend Service – Economics Bitcoin News

Following threats from the Central Bank of Nigeria (CBN), the management of Abokifx, a website that tracks the Nigerian currency’s black market exchange rates, has announced the suspension of their daily updates. This suspension will remain in effect until Abokifx gets “better clarity of the situation,” management said on September 17, 2021. Tracking of Parallel Market Rates ‘Undermining’...

Bitcoin.com Doubles Down on Non-Custodial Model – Promoted Bitcoin News

Bitcoin.com, in line with its vision to support ‘economic freedom,’ is refocusing its efforts on non-custodial, or ‘self hosted,’ crypto products, including exchange. Therefore, the Bitcoin.com Wallet, which is fully non-custodial and provides users with direct access to public blockchains like Bitcoin, Bitcoin Cash, and Ethereum will be the company’s flagship product going forward. What’s the non-custodial model? When you...

Report – Emerging Markets Bitcoin News

Cryptocurrency usage and trading are experiencing a boom in India, and most of this growth is coming from small cities. According to reports from local exchanges, the growth has been exponential. The profile of these new participants has also been interesting, as they are highly educated, not only focused just on bitcoin, and are open to diversifying their...

Start of New BTC Bull Trend? Crypto Trader Lark Davis Says Bitcoin Just Confirmed Rare Bullish Signal

Crypto trader and YouTube influencer Lark Davis says Bitcoin (BTC) just confirmed a massive bullish signal. In a new video, Davis tells his 432,000 YouTube subscribers that Bitcoin just flashed “golden cross,” a technical event seen by many traders as a sign for rallies to come.   “It’s happened. It’s official. It is confirmed. We’ve got a golden cross on Bitcoin....

JPMorgan Strategist Estimates Ether’s Fair Value at $1,500 Amid Competition From ‘Ethereum Killers’ – Bitcoin News

A strategist at JPMorgan stated that ether’s fair value is way lower than its current price. According to a set of measurements based on network activity, he calculated ether’s value at $1,500, 55% lower than its market price. One of the reasons argued for this assessment, is that Ethereum is not so unique anymore, and it is facing...

Russian Court Confirms Arrest Warrants for 3 Finiko Founders – Bitcoin News

Tatarstan’s highest court has rejected appeals against arrest warrants issued for three co-founders of the notorious Finiko crypto pyramid. The top representatives of the Ponzi scheme, accused of large-scale fraud in Russia, are still hiding abroad, media reports reveal. Three Finiko Ponzi Scheme Members Still Wanted The Supreme Court of Tatarstan, a republic of the Russian Federation, has confirmed...

Polkadot, Avalanche, and Two Additional Altcoins Are the Top Crypto Assets To Watch, Says Trader Jason Pizzino

Crypto strategist and trader Jason Pizzino says he’s keeping a close watch on Polkadot (DOT), Avalanche (AVAX) and two more crypto assets as the altcoin markets continue to flash signs of strength. In a new strategy session, Pizzino tells his 210,000 YouTube subscribers that he expects interoperable blockchain Polkadot to continue surging to around $50 after a brief cooldown...

Cross-Chain Bridges That Connect 5 Different Blockchains to Ethereum – Defi Bitcoin News

During the last few months, cross-chain bridge technology has grown a great deal and users can now swap assets between a myriad of networks. Today, between eight different bridges there’s $7.6 billion total-value locked across these platforms. Cross-Chain Bridges There’s a decent quantity of cross-chain blockchain bridges these days and it has allowed users to do a variety of...

Cardano’s ‘Hydra’ Upgrade Aims To Supercharge Blockchain Scalability, Powering Enterprise Use Cases and DeFi

Input Output Hong Kong (IOHK) says it’s developing a layer-2 upgrade for Cardano’s blockchain after the crypto’s mainnet was updated last week. Cardano founder Charles Hoskinson tells his 690,000 followers that a new venture called “Hydra” is in development on the new Alonzo hard fork to improve aspects of scalability and storage.   David Orr of IOHK explains that while they...

Ripple Has No Plans to Settle With SEC Over XRP, Confident Gensler Will Drop the Lawsuit – Regulation Bitcoin News

Amid the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC), Ripple’s legal team reportedly said that they have no plans to settle with the securities watchdog. They are confident that SEC Chairman Gary Gensler will be convinced that pursuing the case is picking winners and losers in the crypto business to the detriment of innovation. No Plans...

Imminent Bitcoin Upgrade Is One for the Ages, According to Crypto Exchange Kraken

Crypto exchange Kraken says that an upgrade for Bitcoin (BTC) coming in November is “one for the ages.” In Kraken Intelligence’s latest report, the exchange explains that Taproot – which is comprised of three Bitcoin Improvement Proposals (BIPs) – will revamp multiple aspects of the world’s biggest crypto by market cap.    “Taproot substantially improves user privacy, network scalability, and the...

Ex-Head оf Wex Crypto Exchange Reportedly Arrested in Poland, Faces Extradition to Kazakhstan – Bitcoin News

Dmitry Vasiliev, former chief executive of Russian cryptocurrency exchange Wex, has been detained in Warsaw, the Polish press reported. Vasiliev is wanted in Kazakhstan where he is accused of fraud related to the now defunct trading platform, successor of the infamous BTC-e exchange. Former Wex Executive in Polish Custody as Prosecutor’s Office Reviews Extradition Request Ex-owner and CEO of...

Top Crypto Analyst Predicts Deep Correction for Bitcoin and Ethereum, Pulls Out Altcoin Positions

A prominent crypto strategist and trader says he’s pulling out of his altcoin positions as he believes Bitcoin and Ethereum are poised for a deep correction. The pseudonymous trader, known in the industry as Smart Contracter, tells his 165,600 followers that he sees Bitcoin (BTC) dropping below $40,000 while Ethereum (ETH) could slide below $3,000.   “Took profit on a whole...

NFT Market Sales Begin to Improve After Last Week’s Massive Market Slump – Market Updates Bitcoin News

Seven days ago, non-fungible token (NFT) marketplaces saw sales nosedive after reaching all-time highs during the month of August. A week later sales have rebounded to a degree and NFT marketplaces like Opensea, Rarible, and Superrare have seen improvements in terms of seven-day trade volumes. Opensea, Rarible, Hic et nunc, Makersplace, Superrare See NFT Weekly Volumes Improve On September...

Crypto Investors Slap Apple With Class-Action Lawsuit, Claim Tech Giant Authorized Distribution of Malicious Application: Report

Apple is facing a class-action lawsuit from crypto investors over an application that allegedly allowed hackers to steal their coins. According to a report from civil litigation media outlet Courthouse News Service, hackers used the tech giant’s app store to place a phishing application disguised as a crypto wallet called “Toast Plus” and lured users into installing a criminal portal...

AT&T Sued by Customer After Security Breach Led to Theft of Cryptocurrency – News Bitcoin News

An AT&T customer filed a lawsuit against the company last week accusing it of failing to provide “reasonable and appropriate security to prevent unauthorized access to its customer wireless accounts.” This has led to the theft of cryptocurrency from the plaintiff’s crypto exchange account. AT&T Sued by Crypto Investor An AT&T customer, Jamarquis Etheridge, filed a lawsuit in the district...

Coinbase Pro Leads Crypto App Explosion As Digital Trading Platforms Surge in Popularity

Coinbase Pro is at the forefront of the crypto app explosion amid the surging popularity of digital asset trading platforms.  Compiling a list of the fastest-growing finance apps based on data from intelligence platform Apptopia, Business Insider reveals that Coinbase Pro is second to none in terms of popularity after witnessing a 318.85% increase in downloads in the second week...

US Court Sentences Cryptocurrency Hedge Fund Founder to 7.5 Years in Prison – Regulation Bitcoin News

The founder of two cryptocurrency hedge funds in New York, Stefan Qin, has been sentenced to 7.5 years in prison and three years of supervised release. He is also ordered to forfeit about $55 million. The Department of Justice (DOJ) said that he “engaged in a scheme to steal assets” from his hedge funds and defraud investors. Crypto Hedge...

Bitcoin Now Targeting $100,000, Predicts Veteran Trader Tone Vays – Here’s His Timeline

Veteran trader Tone Vays says Bitcoin is now in the process of targeting $100,000 within the coming months. In a new strategy session, Vays predicts a repeat of Bitcoin’s sizeable rally from late July to early September where BTC surged from $32,000 to $52,000.   Based on his trademark momentum reversal indicator (MRI), the seasoned crypto trader expects strong rallies for...

Bitcoin Hashrate Climbs 128% Over 83 Days, Network’s Mystery Miners Disappear – Mining Bitcoin News

Bitcoin’s hashrate has been climbing higher during the last two weeks, hitting 174 exahash per second (EH/s) on two occasions since June 28. Currently, Bitcoin’s network hashrate is coasting along at 158 EH/s, up 128% since the low 83 days ago when it hit 69 EH/s. Meanwhile, unknown hashrate has subsided a great deal as 96% of the...

Bank of Russia to ‘Slow Down’ Payments to Crypto Exchanges, Curb Russians’ Impulsive Investments – Regulation Bitcoin News

Central Bank of Russia is now working with commercial banks in order to delay payments made to digital asset exchanges. The move aims to limit “emotional” cryptocurrency purchases made by “unqualified” Russian investors, a CBR official revealed. The move is likely to affect peer-to-peer and over-the-counter trading platforms. Central Bank of Russia Skeptical of Cryptocurrency Investments Bank of Russia...

New Wave of DeFi Loans on Cardano – Sponsored Bitcoin News

sponsored ADALend is building a scalable and decentralized lending protocol on Cardano, governed by the community. Cardano is the market leader in PoS as a collection of protocols for economic support to billions of people. Over the last decade, the decentralized Finance (DeFi) space has been forced to evolve to keep pace with the development of the digital asset...

Ukraine Officials Fail to Account for Millions in Declared Crypto Assets – Bitcoin News

Personal asset declarations filed by politicians and government officials in Ukraine have indicated that many have made significant investments in cryptocurrency. However, some of them have been unable to prove ownership or account for their digital holdings, local media reported. Lawmaker Loses Over 40 BTC With Stolen Vehicle in Ukraine Dmitry Gurin, a member of Ukrainian parliament from President...

Cardano price dips after smart contract launch, Walmart working with Litecoin is fake news, Coinbase raises $2B from junk-bond sale: Hodler’s Digest, Sept. 12-18

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.Top Stories This WeekCardano launches smart contracts after successful hard forkAfter years of anticipation, Charles Hoskinson’s brainchild, Cardano,...

Directors of Collapsed South African Crypto Investment Firm to Testify via Virtual Platform – Regulation Bitcoin News

Ameer and Raees Cajee, the two directors of the South African crypto-investment platform, Africrypt, are set to participate in an inquest that seeks to seal the fate of the collapsed firm. The Death Threats According to an Itweb report, the Cajee brothers — who have agreed to testify on October 19 and 20 — will only do so virtually. The...

Bitcoin is great, but real crypto innovation has moved elsewhere

Something is brewing, and those with finely tuned noses can smell it. As traders have come to expect, Bitcoin (BTC) is doing “Bitcoin things” by bouncing around between the usual “key” support and resistance levels, and to be honest, it’s all starting to feel a bit boomerish.Bitcoin’s long-awaited “moon” depended on institutional investor buy-in, breaking the previous all-time...

Here’s why Bitcoin might be safe from a global stock market crisis

One of the reasons behind Bitcoin's (BTC) volatility, the substantial price oscillations that occur regularly, is the discrepancy of its use cases. Some pundits deem it "digital gold," a truly scarce and perfect store of value (SoV). Others consider Bitcoin a technology project or a type of software with a corresponding network.El Salvador's adoption as legal tender will...

100 years ago, Henry Ford proposed ‘energy currency’ to replace gold

In 1921, American industrialist Henry Ford proposed the creation of an “energy currency” that could form the basis of a new monetary system — offering striking similarities to the peer-to-peer electronic cash system outlined in Satoshi Nakamoto’s 2008 Bitcoin (BTC) whitepaper. Front page of the New York Tribune dated Sunday, December 4, 1921. Source: Library of CongressBitcoin as an...

Ethereum Above $10,000 Is Already ‘Programmed Into the Matrix,’ Says Crypto Trader Lark Davis

Cryptocurrency trader and YouTube influencer Lark Davis says Ethereum (ETH) is poised for a 190% rally en route to hitting a five-figure price. In a new video, Davis tells his 431,000 YouTube subscribers that the second-largest crypto asset by market cap is preparing to appreciate to above $10,000 based on key fundamental factors.   Davis says one of the reasons why...

Wormhole Network Launches Ethereum Solana Bridge, Solana AMM Saber Surpasses $4 Billion TVL – Defi Bitcoin News

On September 17, 2021, Solana protocol fans were introduced to the launch of the Wormhole Network’s ethereum – solana bridge, which means assets between each chain can be intermingled. The launch announcement notes that Saber, the Solana-fueled protocol with more than $4 billion total-value locked (TVL), will support migration from Wormhole V1 to V2. Wormhole Launches Ethereum – Solana...

Report – Exchanges Bitcoin News

Binance’s troubles with regulators grow as U.S. authorities are now reportedly investigating the exchange for possible insider trading and market manipulation. The investigation involves the Commodity Futures Trading Commission (CFTC). The Justice Department (DOJ) and the Internal Revenue Service (IRS) have also been investigating Binance on a separate issue. Binance Probed for Possible Insider Trading, Market Manipulation U.S. authorities are...

California named ‘most crypto ready’ US state

California has emerged as the most crypto-ready jurisdiction in the United States thanks to the proliferation of cryptocurrency ATMs and growing interest in digital assets among the state’s population, according to new industry research from review site Crypto Head. With a score of 5.72 out of 10, California edged out New Jersey (5.44), Texas (5.28), Florida (5.03) and New...

First International Expansion Outside US – Exchanges Bitcoin News

Paypal has completed the first international expansion of its cryptocurrency offering outside of the U.S. Paypal Crypto is now available to customers in the U.K. allowing them to buy, hold, and sell four kinds of cryptocurrencies. Paypal Crypto Now Available to All Eligible UK Customers Payments giant Paypal Inc. announced Friday that it has completed the rollout of its crypto...

Bitcoin jumps toward $49K amid fears 5%-plus inflation is here to stay

Bitcoin (BTC) inched higher on Sept. 18 as the focus shifted to the Federal Open Market Committee's (FOMC) policy meeting in the wake of lower inflation numbers last Tuesday.The BTC/USD exchange rate approached $49,000 on the Coinbase exchange, hitting $48,825 before turning lower on interim profit-taking sentiment. Nonetheless, the move uphill raised expectations that the pair would hit...

American CryptoFed DAO seeks US SEC consent for stable utility tokens

American CryptoFed DAO, a Wyoming-based decentralized autonomous organization, has filed two forms with the United States Securities and Exchange Commission, or SEC, to launch two variants of inter-dependent stablecoins named Locke and Ducat.According to CryptoFed’s Form 10 submission, the tokens are awaiting their registration as utility tokens hosted on the in-house CryptoFed blockchain. However, SEC’s Form 10 is...

There’s Less Than 20,000 Coins Left Active – Featured Bitcoin News

While bitcoin continues to become more scarce every day, the most popular set of physical bitcoins, crafted by Mike Caldwell from 2011 to 2013, have become far scarcer than their digital counterparts. As of September 18, 2021, there are now less than 20,000 active bitcoins from the Casascius physical bitcoin collection. Casascius Physical Bitcoin Collection Grows Scarcer Bitcoin has become...

Viral Philanthropic App Dreamr® Announces the Return of Charlie Rocket’s Dream Machine Tour – Press release Bitcoin News

press release PRESS RELEASE. Social media dream builder Charlie Rocket and Dreamr Labs announce 2nd nationwide tour with $1 million traveling giveaway kicking off at Life is Beautiful Festival in Las Vegas, 9/17 Click to tweet: Hit the road with Charlie Rocket and @dreamr_app as they travel the country building dreams and giving away $1 million in DMR tokens!...

Defi TVL Climbs Higher, Optimism Use Rises, 270K BTC on ETH, Lending on ETH Taps $44 Billion – Defi Bitcoin News

In mid-September, the total-value locked (TVL) in decentralized finance (defi) continues to climb higher, as the value held on Ethereum, Binance Smart Chain, Avalanche, Solana, and more blockchains has risen dramatically to $171 billion today. On the Ethereum network, there’s 270,783 bitcoin held in TVL worth more than $13 billion and $15 billion has been swapped across 14...

NFT-based Fixed Lending Protocol Pledge Backed by Stanford Alumni Announces Successful Fundraise – Press release Bitcoin News

press release PRESS RELEASE. Pledge Finance is launching a cross-chain decentralized finance ecosystem, purpose-built for the financial sector following a successful private round in which it raised more than $3 million. Hong Kong – Pledge Finance, an algorithm-driven, multi-chain decentralized finance (DeFi) ecosystem, is announcing the launch of an NFT-powered structured collateralized lending platform targeted at the traditional financial...

Valuation of Stablecoin DAI Market Swells — DAI Market Cap Increased More Than 800% in 12 Months

Recently Bitcoin.com News covered the stablecoin tether and how the crypto asset’s market valuation jumped more than 1,500% in just over 500 days. In addition to this exponential increase, the decentralized stablecoin DAI’s market capitalization has also swelled significantly as DAI’s market valuation jumped more than 800% during the last 12 months, increasing from $696 million to $6.3...

What Biden’s new agency picks hold for crypto regulation

On Sept. 14, United States President Joe Biden revealed his picks to fill two vacant seats at the United States Commodity Futures Trading Commission (CFTC). In addition, the president nominated Rostin Behnam, who has run the derivatives regulator as acting chairman since January, to assume the office on the permanent basis.The appointments are unlikely to face serious obstacles...

Statue of Bitcoin Creator Satoshi Nakamoto Unveiled in Hungary – Featured Bitcoin News

A statue of Satoshi Nakamoto, the pseudonymous creator of Bitcoin, has been unveiled in Budapest, Hungary. “The statue is made of bronze, the face is made of a special bronze-aluminium composite, thus every visitor can see their own face when looking at Satoshi. We are all Satoshi.” Statue Representing ‘We Are All Satoshi’ in Honor of Bitcoin’s Creator A statue...

Korean Government Says 28 Crypto Exchanges Have Met Regulatory Requirements to Continue Operations – Regulation Bitcoin News

The deadline for cryptocurrency exchanges to meet the requirements to continue operations under new crypto regulations in South Korea is rapidly approaching. A total of 28 cryptocurrency exchanges have reportedly been cleared by the regulators to remain open. However, only four crypto exchanges have met the requirements to offer trading in Korean won. 28 Cryptocurrency Exchanges Meet Regulatory Requirements South...

El Salvador ranks third in global Bitcoin ATM installations, data finds

El Salvador now hosts the third-largest network of crypto ATMs after the United States and Canada, amounting to 70% of all crypto ATMs in South America.According to data from Coin ATM Radar, El Salvador has exceeded United Kingdom’s crypto ATM count after deploying 205 crypto ATMs to date to facilitate local Bitcoin transactions and BTC to U.S. dollar...

LBank Exchange Lists NBL (Nobility) – Press release Bitcoin News

press release PRESS RELEASE. INTERNET CITY, DUBAI – LBank Exchange, a global digital asset trading platform, will list NBL on September 15, 2021. For all users of LBank Exchange, the NBL/USDT trading pair will be officially available for trading at 22:00 (UTC+8) on September 15, 2021. Esports industry has grown rapidly in recent years, and now, crypto space is...

Securities Watchdogs File Orders Against Crypto Lender Celsius – Regulation Bitcoin News

A news release published by the New Jersey government web portal indicates that the cryptocurrency lending platform Celsius has been sent a cease and desist order from the New Jersey Bureau of Securities. Furthermore, the Texas State Securities Board has ordered Celsius to appear at a hearing and is also threatening with a cease and desist. Regulators are...

Luno to Reinstate Deposit and Withdrawal Function for Nigerian Clients — Denies User Speculation – Bitcoin News

One of the African continent’s leading cryptocurrency exchanges, Luno, has told its Nigerian users that it is “in the process of reinstating deposit and withdrawal functions on our platform.” According to an email that was sent to Nigerian users, this reinstatement is expected to happen “in the coming weeks.” Luno Not in Direct Communication With CBN As a report by...

Binance Prepares Changes to Work With Regulators Worldwide – Bitcoin News

Binance, the leading cryptocurrency exchange, has announced it is preparing changes to be able to work with regulators more closely. Its CEO, Changpeng Zhao, stated the company is ready to apply the needed revisions to transform the exchange into a regulated financial institution in the future. This is Binance’s answer to a series of regulatory issues it has...

Laos Authorizes Cryptocurrency Mining and Trading Activities – Bitcoin News

Laos has authorized a series of cryptocurrency mining and trading projects in the country, looking for another source of income to supplement the losses caused by the drop in tourism due to COVID-19 related measures. Six companies have been authorized to start cryptocurrency trading and mining operations in the country, according to the office of the prime minister. Laos...

Estonian ‘auto liquidation’ DeFi platform Minterest raises $6.5M

Decentralized finance (DeFi) protocol Minterest has just secured $6.5 million in funding for a long-term yield optimization platform.The private fundraising round was contributed to by a number of venture capital companies, including KR1, Digital Strategies, Bitscale Capital, PNYX Ventures, CMT Digital and others.The Estonian-based team intends to use the funding to develop the lending and borrowing protocol, which...

Bitcoin sees ‘quite healthy’ consolidation on $200M BTC options expiry day

Bitcoin (BTC) ranged around $48,000 on Friday as hopes of a bull run endured thanks to low supply and upcoming corporate disclosures.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnticipation builds for cross-crypto breakoutData from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to consolidate into Friday, with the latest options expiry now due.The pair had made little progress since bouncing...

NFT gaming company Animoca Brands acquires majority stake in Bondly

Animoca Brands, a nonfungible token (NFT) game developer, has announced a substantial investment in the NFT platform Bondly.According to a release issued on Friday, Animoca will own a majority stake in Bondly following the investment.Commenting on the rationale behind its investment in Bondly, Animoca chairman and co-founder Yat Siu told Cointelegraph:“We acquired a majority stake in Bondly because...

Bybit crypto exchange suspends services in South Korea

Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline.The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media. The suspensions will take effect starting on Monday."Korean traders...

MonoX raise $5M to launch single-token liquidity pools

Automated market maker MonoX has today announced a debut capital raise of $5 million from venture firms including the likes of Axia8 Ventures, Animoca Brands, Divergence Ventures, among others.MonoX will use the funds to support its ambitions in reducing the capital and liquidity prerequisites for decentralized finance (DeFi) projects offering swap, lending, borrowing and derivative capabilities on decentralized...

Next stop $85K for Bitcoin as analysts predict ‘explosive’ Q4 for BTC price action

Bitcoin (BTC) is heading for at least $85,000 in Q4 this year and could well surpass the $100,000 mark, new research says.In its latest market update on Friday, trading platform Decentrader revealed an unapologetically bullish mid-term BTC price forecast.Next stop $85,000 for BTC/USDDespite BTC/USD being kept below $50,000 this week, on-chain metrics have led analysts to stay firmly...

Here’s how traders knew LUNA and RAY were on the verge of a bullish breakout

Online information flows have a tremendous influence on the prices of crypto assets. Just this week, investors witnessed how even fake news can sometimes make the market value of a token explode, even if for just an hour. Fortunately, the effects of legitimate news tends to last longer, but the trick for investors is to figure out which...

Former chief of Russia’s Wex crypto exchange arrested in Poland

BBC Russia has reported that Dmitry Vasiliev, the former chief of Russian cryptocurrency exchange Wex, has been arrested in Warsaw, Poland.Wex, which was previously known as BTC-e, was a well-known "dark" exchange in the early days of the cryptocurrency industry. It is alleged to have laundered funds for numerous high-profile crypto hacks, including the notorious Mt. Gox incident.Although...

John Cena calls his own NFT sales a ‘catastrophic failure’

Professional wrestler and actor John Cena said fans only purchased 7.4% of his World Wrestling Entertainment, or WWE, nonfungible tokens (NFTs) that he made available last month.Speaking at Florida Supercon 2021 on Sept. 12, Cena said it was a mistake to market his WWE NFTs as part of a package with physical collectibles — a hat, shirt, wristbands,...

How smart contracts are shifting the crypto sector’s balance of power

One of the familiar themes seen in previous crypto market cycles is the shifting market caps, popularity and ranking of the top 10 projects that see significant gains during bull phases, only to fade into obscurity during the bear markets. For many of these projects, they follow a recognizable boom-to-bust cycle and never return to their previous glory. During...

Bitcoin is ‘playing mind games’ as its price coils into a tighter range

The general mood across the cryptocurrency market is one of anticipation on Sept. 17 as the price of Bitcoin has traded in an increasingly tighter range over the past couple of days and looks to be coiling in preparation for a move one way or another. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin...

Veteran trader explains when it’s the best time to cash out of the market

2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863, and the DeFi and NFT sector made headlines around the world. Crypto traders need to be wary of times like these because the notoriously volatile nature of the cryptocurrency market can see vast fortunes wiped out...

Maverick Vitalik in Time Mag, Sept. 13–17

Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter.Despite Cardano founder Charles Hoskinson's claim that the DeFi space is now “up for grabs,“ it was rival Vitalik Buterin who stole the headlines this week with a feature in Time Magazine.What you’re about to read is the smaller version of this newsletter designed for brevity. For...

Texas and New Jersey regulators go after Celsius Network

The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering a security licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency products.According to...

Solana chart ‘bull flag’ eyes $250 despite SOL price down 40% since last week

Solana (SOL) price extended its slide on Sept. 17 as a major network outage over the past week — pointing to heightened security risks — hit traders' confidence.The SOL/USD exchange rate fell up to 13.27% to its intraday low of $133.53 in a corrective trend that began after it topped out near $221.38 on Sept 9. As a...

Canadian politician says he supports Bitcoin as federal election looms

Maxime Bernier, founder and leader of the People's Party of Canada, has said he supports the adoption of cryptocurrencies in the country.In a Sept. 14 tweet, Bernier said cryptocurrencies were “another new and innovative way” to counter the actions by central banks, which he claimed were “destroying our money and economy.” The Canadian politician has criticized the Bank...

SushiSwap’s token launchpad, MISO, hacked for $3M

Joseph Delong, chief technology officer of decentralized finance (DeFi) platform SushiSwap, announced that a hacker compromised the supply chain of its token launchpad platform, MISO.According to Delong, the “anonymous contractor with the GH handle AristoK3 injected malicious code into the Miso front end,” replacing the auction wallet address with their own and subsequently acquiring 865 Ether (ETH), valued at...

PayPal completes crypto trading rollout for UK customers

PayPal officially announced on Friday that all eligible customers in the United Kingdom can now buy, hold and sell cryptocurrencies using their PayPal accounts.Customers can trade four major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). As announced previously, crypto trading will only be available to PayPal customers with verified identities.PayPal announced plans to move into...

Smashing crypto adoption barrier? Solana aims to do its own ‘thing’

There was a lot of talk at SALT Conference 2021 about Solana Labs, the supersonic racer of layer-one blockchain networks. Not surprisingly, much of that conversation centered on speed — or, in network parlance, transactions per second (TPS).If blockchain technology is ever to achieve mass adoption — 1 billion users, say — then it has to get faster,...

Shiba Inu (SHIB) jumps 40% on Elon Musk’s cryptic endorsement, Coinbase listing

Shiba Inu (SHIB) crept up Friday as traders assessed its addition on Coinbase, one of the world’s leading crypto exchanges.The SHIB/USDT exchange rate jumped up to 16.42% to $0.00000950 for the first time since June 29, 2021. The latest move uphill came as a part of an overall bullish trend that started Thursday, wherein SHIB rallied by more...

DCG-backed Korean exchange faces closure if it can’t find banking partner

South Korean crypto exchange Gopax, which is backed by Digital Currency Group, is facing potential closure ahead of the country’s fast-approaching deadline for platforms to submit their requests for an official operating license.To be eligible for a license, all crypto exchanges must show evidence that they are operating using real-name accounts at South Korean banks. The catch is...

Bitcoin-based security token offering approved in Germany

German financial regulators have approved a security token offering (STO) based on a Bitcoin (BTC) sidechain.Germany’s Federal Financial Supervisory Authority (BaFin) has greenlighted the EXOeu token by game publisher Exordium, making local retail investors eligible to participate in the sale on Stokr, a major European digital marketplace.German investors can invest in EXOeu via Stokr with a minimum investment amount...

El Salvador’s credit rating could take hit amid Bitcoin adoption warns S&P Global

Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing BTC as legal tender nationwide on Sept. 7.According to a Sept. 16 report from Reuters, El Salvador’s Bitcoin embrace exposes its economy to significant financial risks and could pose challenges for the...

$1.2B in Ether withdrawn from centralized exchanges in record daily outflow

More than $1 billion worth of Ether has been removed from centralized exchanges in 24 hours, leading to speculation about imminent price gains for Ethereum as supply shrinks on many trading venues.According to data shared by crypto analytics provider IntoTheBlock, $1.2 billion worth ETH was withdrawn from centralized exchanges on Sept. 16 to mark a new record in...

Democrat Senator lobbies agencies over the use of crypto in ransomware

Some U.S. Senators are ramping up the anti-crypto rhetoric again, urging federal agencies to take action against the illicit use of digital assets.Democrat Senator Maggie Hassan is the latest to raise concerns about the use of cryptocurrency as a means of payment for ransomware attacks.The Senate Homeland Security and Governmental Affairs Committee member sent a letter on Sept....

200 smart contracts launch on Cardano … but there’s a catch

More than 200 smart contracts have been listed on the Cardano blockchain explorer following the Alonzo upgrade on September 13 — but there’s a catch. As of now, the smart contracts are in a timelock and cannot be used by developers until they’re released.Smart contracts have been a long-anticipated feature on Cardano since its launch in 2017 and the...

China’s version of McJob meme, eCNY airdrops, Canaan’s record revenue – Cointelegraph Magazine

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. Regulatory noiseIn this week’s column, the Man in Shanghai is determined to squeeze all of the regulatory noise into one section, so as not to waste too...

Avalanche (AVAX) just hit a new ATH, but what’s really behind the price surge?

On Sept.16 Avalanche (AVAX) price hit a new all-time high at $68.89 and over the last few months the project has risen to challenge the Ethereum (ETH) network’s dominance among smart contract platforms. According to the project's website, the layer-one protocol capable of surpassing 4,500 transactions per second (TPS) with a time to finality of less than 2...

Treasury plots stablecoin crackdown even as Tether’s dominance wanes

The U.S. Treasury Department is reportedly preparing a review highlighting challenges posed by stablecoin redemptions and the effect of a possible run on the crypto asset market.According to a Sept.16 report from Bloomberg citing anonymous sources, Treasury officials are readying policy recommendations designed to ensure stablecoin holders can freely convert between their tokens and other assets.The report states...

Korean Finance Minister vows to fight moves to delay the crypto tax code

South Korea’s Minister of Strategy and Finance, Hong Nam-Ki has vowed that the controversial crypto tax code will come into effect on January 1st, 2022 despite moves this week by the majority Democratic Party to postpone it to 2023.The tax code will levy a 20% tax on income generated by crypto transactions in excess of 2.5 million KRW,...

Multimillion-dollar investment rounds spark rallies in Avalanche and Audius

Altcoins continue to book notable gains on Sept. 16 as a slew of celebrity endorsements, major investments and the growing popularity of cross-chain bridges catch investors' attention.Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Audius (AUDIO),...

Satoshi Nakamoto statue goes up in Budapest

A bronze depiction of legendary Bitcoin creator Satoshi Nakamoto is now on display for visitors to Graphisoft Park in Budapest. In an unveiling ceremony on Sept. 16, András Győrfi, the co-founder of the statue project and editor of crypto news site Kripto Akademia, spoke to a crowd of journalists and Hungarian residents before revealing the shining face of Satoshi....

Ethereum options data suggests the battle for $4K ETH is at least a week away

For the past 40 days, Ether (ETH) has trended modestly upward, respecting a narrow channel most of the time. It enjoyed a brief rally toward $4,000 in the first week of September, but a subsequent crash brought the price into the ascending channel.Ether price at Bitstamp in USD. Source: TradingViewIn August, nonfungible tokens posted record-breaking transactions, clogging the...

BTC takes aim at $50K; Solana goes down; Is ETH ‘sound money’?

Tune in to watch Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman. Here’s what to expect in this week’s markets news breakdown: Bitcoin (BTC) once again takes aim at $50,000. Is this the final hurdle before all-time highs are within reach?The Solana network was brought down by a sudden surge in transaction...

Avalanche Foundation raises $230M to support DeFi ecosystem

The Avalanche Foundation has announced a significant $230M investment from a venture capital group spearheaded by Polychain and Three Arrows Capital for the purpose of supporting the growth of the DeFi ecosystem and their ever-expanding list of applications that utilize the blockchain.Since launching in September 2020, Avalanche has cultivated a burgeoning influence on the DeFi landscape, with its smart...

Delaying tax laws on crypto is ‘inevitable’

Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans to postpone a bill clarifying the taxation of crypto until 2023.According to a Thursday report from Naver News, Noh said the Democratic Party of Korea plans to push back against the intention of South Korea’s Ministry of Finance to...

3 reasons why REN price is up 340% from its July swing low

Interoperability has become one of the driving themes within the crypto market and as the blockchain ecosystem evolves into an interconnected web of layer-one protocols, the importance of communication and efficiency among decentralized applications (dApps) will also increase.Ren (REN), a blockchain protocol designed to provide interoperability and liquidity between different blockchain platforms, has started gaining traction over the...

Ethereum eyes $6.5K bullish target as ETH price chart paints ‘cup and handle’

Ethereum blockchain’s native asset, Ether (ETH), faces the prospect of exploding toward $6,500 in the coming sessions.ETH looks like a cup and handle too. Thoughts?— Raoul Pal (@RaoulGMI) September 15, 2021 The bullish analogy takes cues from a textbook technical pattern dubbed “cup and handle.” In detail, a cup and handle structure develops after the price first rallies significantly...

New Bitcoin price model suggests BTC won’t go below $39K again

Bitcoin (BTC) must cost at least $39,000, says a new tool combining two of its most powerful metrics.In a tweet on Thursday, analyst William Clemente presented the illiquid supply floor chart — and its findings are firmly bullish for BTC.Bitcoin’s price floor rises and risesWith exchange reserves dwindling and major corporate buy-ins expected to be announced in the...

Bitcoin ledger as a secret weapon in war against ransomware – Cointelegraph Magazine

Ransomware, malicious software that encrypts computers and keeps them “locked” until a ransom is paid, is the world’s fastest-growing cyber threat, according to Coinfirm. Recent attacks on critical national infrastructure, like the Colonial Pipeline incursion that crippled oil and gas deliveries for a week along the U.S. East Coast, have set off alarms. Ransom payments are almost always...

SushiSwap leads DEX token gains as SUSHI price rises by 23% in 24 hours

SushiSwap (SUSHI) prices crept higher on Sept. 16 following another day of gains for decentralized exchange (DEX) tokens.The SUSHI/USD exchange rate rose by 7.54%, or $1.14, to reach $16.31 for the first time since May 21. The pair's upside move pushed its 24-hour adjusted timeframe profits up to 23%, making SUSHI the best-performing DEX token in the given...

BTC holds $48K as Evergrande forms ‘Lehman Brothers moment’ for China

Bitcoin (BTC) cautiously held $48,000 on Thursday as excitement brewed over a boost thanks to China seeing its “Lehman Brothers moment.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewTether executive reassures on EvergrandeData from Cointelegraph Markets Pro and TradingView showed BTC/USD trading near the $48,000 mark Thursday.While progress toward $50,000 was less decisive, analysts were broadly hopeful that a debt crisis...

Does Evergrande’s $300B debt crisis pose systemic risk to the crypto industry?

Amid speculation as to whether China’s second-largest property developer, Evergrande Group, will default on its $300 billion in debts, analysts are wondering whether the firm’s collapse could pose contagion risks for the crypto industry.On Sept. 8, Fitch Ratings asserted it “appears probable” that Evergrande will default on its debts, with the firm having since conceded that it will...

Bitcoin historical data reveals strategy to pick the right iPhone 13

Bitcoin (BTC) and Ether (ETH) historical data make selecting the right Apple iPhone 13 model quite easy for crypto enthusiasts. Apple unveiled four different smartphone models on Tuesday, the iPhone 13 and iPhone 13 mini, with a new camera layout, as well as the Super Retina XDR display-bearing iPhone 13 Pro and iPhone 13 Pro Max, each with several...

EU regulator sees crypto as sign of increased risk-taking in current climate

The European Securities and Markets Authority (ESMA) has published its report on trends, risks and vulnerabilities in the European Union markets during the first half of 2021 (1H21).Its takeaways included the argument that crypto markets’ extraordinary volatility and growth make a compelling case for the need for a targeted regulatory regime, as sketched out in the European Commission’s...