Crypto News on 17 Oct, 2024

The cryptocurrency market is characterized by high volatility and constant changes, making it essential to have effective platforms that can simplify its complexities and enhance the trading experience. This is where Bitcoin Maxair comes into play. This trading system purports to assist traders of all levels, whether they are newcomers or seasoned experts. Bitcoin Maxair reviews online are generating several claims about the platform. It is said that this trading bot provides easy access to a variety of assets, including cryptocurrencies, stocks, forex pairs, CFDs, and commodities. The system utilizes advanced technologies to adjust parameters and adapt to changing market trends. Currently, Bitcoin Maxair is accessible in most countries, excluding the United States, Iran, France, Israel, and Cyprus. The platform claims a high success rate, and user feedback has generally been positive, suggesting its legitimacy. However, based on our extensive experience with various crypto trading platforms, we emphasize that only a thorough investigation can truly assess a platform’s authenticity. This review of Bitcoin Maxair aims to serve as a comprehensive guide to the trading system. We will explore key aspects such as its functionality, main features, pros and cons, registration process, customer support, minimum deposit, supported countries, and more. Continue reading to determine if Bitcoin Maxair meets your trading needs. Bitcoin Maxair- Facts Overview What Is Bitcoin Maxair? Bitcoin Maxair is a new trading platform designed to fully automate the trading process, simplifying the complexities of trading various assets. Developed by a team of trading experts and crypto enthusiasts, it incorporates advanced technologies, algorithms, and tools. The platform also provides educational resources such as videos, detailed tutorials, and webinars for traders and investors. Bitcoin Maxair aims to streamline crypto trading by monitoring current market trends and patterns while offering valuable trade signals. With unique features tailored for both novice and experienced traders, the platform includes a demo mode, customization options, and complete control over funds. How to Open an Account on Bitcoin Maxair? The registration process for the Bitcoin Maxair trading software is quite easy. Here are the steps that you have to follow to become a part of this training community: Step 1- Registration The first step for starting an Bitcoin Maxair account is to register by providing details such as name, contact number, email ID, and a strong security password. After completing the form, submit it and wait for the confirmation. If the creator finds you eligible to become a part of their trading community, an email will be sent with a confirmation link. Click the link to activate your Bitcoin Maxair trading account. Step 2- Deposit Funds The next step is to make an initial deposit on the Bitcoin Maxair trading software. The minimum deposit that the platform requires is $250. This amount will be used to execute orders in the crypto market. Based on trading skills, strategies, risk tolerance levels, and financial goals, traders can invest bigger amounts. The funds can be deposited and withdrawn as required without any hassle. Step 3- Start Live Trading Once the account is activated and a deposit is made, traders will get access to the unique features, tools, and other services offered by Bitcoin Maxair. These can be used to analyze market trends and patterns, compare price data, and spot price movements, and generate invaluable trade signals. Traders can also customize options like parameters, technical indicators, and so on to align with market situations and trading activities. Beginners can make use of the demo account to test their skills and develop strategies without risking real money. How Does Bitcoin Maxair Work? Now, let us probe into the working principle that the Bitcoin Maxair trading bot follows to support smooth and efficient trading of various assets including cryptocurrencies. First of all, the Bitcoin Maxair trading platform connects traders and investors to reputed brokerage services. The assigned broker will receive data on current prices of assets from liquidity providers. This information will be conveyed to the trading platform. The system will store market-related news, price data, and other data as well. Then, the platform will use advanced technologies, algorithms, and tools to conduct fundamental and technical analyses of the crypto and other asset markets. It will also analyze current market conditions and previous trends and patterns. Considering the parameters, profitable opportunities, and strategies, the Bitcoin Maxair platform will let traders place and close orders in full or partially. The system also analyzes trading results. This is done by storing the history of trades which are examined to create statement reports. Traders and investors can use these reports to analyze trading activities and the efficiency of each trade. Bitcoin Maxair Features The Bitcoin Maxair platform has been integrated with several features so that it can provide timely updates and responses. The features are listed below: Order Placement One of the main features of the Bitcoin Maxair platform is order placement. This feature also allows traders to track real-time prices, and check trading statistics for the day, the profit or loss on closed trades, and the win for the day. Technical Analysis The system supports efficient technical analysis by providing tools such as chart patterns, charting, and technical indicators. This will help traders analyze assets including cryptocurrencies and check trends in price movements. Programmatic Trading Programmatic trading is a feature that allows traders to execute trades automatically. By giving certain commands, traders can test how the automated system will function. Paper Trading This is a riskless virtual money trading functionality that is integrated into the Bitcoin Maxair trading platform. This feature lets traders test their skills and strategies without risking real money. In this way, traders can check what works for them. Bitcoin Maxair Pros And Cons In the previous sections, we have discussed the working principle, features, and registration process of the trading software. Every trading software has pros and cons. Here, let us go through the positives and negatives of the Bitcoin Maxair software: Simple to use and maintain Uses advanced technologies Offers tools and services Utilizes advanced algorithms Suitable for both beginners and expert traders User-friendly interface Resources provided No hidden charges Zero platform cost Requires just a minimum deposit of $250 High trading success rate Supports cryptocurrencies, stocks, forex, and more Offers real-time data and insights Customizable parameters Some regions might not have access to the Bitcoin Maxair platform due to restrictions imposed by local laws Bitcoin Maxair- Cost, Minimum Deposit, And Profit The Bitcoin Maxair software is much cheaper when compared to other similar trading platforms available online. The software requires just a minimum deposit of $250 to begin real-time trading and make huge profits. This amount can be deposited in your account using any of the payment services supported by the platform. The initial capital can be more than $250 and can be decided after considering factors like risk tolerance, trading skills and strategies, and financial goals. Bitcoin Maxair ensures that traders have complete control over the funds. This is why the profits made can be withdrawn at any time. Bitcoin Maxair Customer Support The Bitcoin Maxair creator gives prime importance to its customers and works for customer satisfaction. This is why the platform has a trusted customer service team that will be available 24/7 to provide assistance and guidance in trading, account maintenance, transactions, and so on. This suggests that the Bitcoin Maxair trading software is trustworthy. Bitcoin Maxair Customer Reviews And Complaints So far, the Bitcoin Maxair software has received only positive feedback from traders across the globe. Genuine reviews, ratings, and opinions about this system are available on reputed crypto forums and other platforms. Satisfied traders have reported that they could make consistent profits by spending just a few hours every day on this platform. The general feedback is positive, Bitcoin Maxair seems to be a safe trading software. Bitcoin Maxair- Cryptocurrencies Right now, the Bitcoin Maxair trading software supports different cryptocurrencies including crypto assets, commodities, stocks, CFDs, and forex pairs. Some of the main cryptocurrencies supported are listed below: Polkadot (DOT) Litecoin (LTC) Ripple (XRP) Montero (XMR) Ethereum (ETH) Binance Coin (BNC) Bitcoin (BTC) Dash (DASH) Ethereum Classic (ETC) Cardano (ADA) The complete list of cryptocurrencies supported is available on the official Bitcoin Maxair website. Bitcoin Maxair- Countries Eligible As of now, most countries have access to the Bitcoin Maxair platform and its services. Exceptions include the United States, Cyprus, Iran, Israel, and France where trading is restricted by local laws. Here are the countries that have access to this trading software: United Kingdom South Africa Netherlands Switzerland Bitcoin Maxair Reviews- Final Verdict In this review of Bitcoin Maxair, we explore the various features that contribute to its reputation as a safe and efficient cryptocurrency trading software currently available on the market. Before reaching a final conclusion, let’s take a closer look at the key functionalities of this platform. Bitcoin Maxair streamlines the trading process, offering a wide range of cryptocurrencies and other assets for trading. It leverages advanced technologies, including artificial intelligence and sophisticated algorithms, to perform both fundamental and technical analysis of the crypto market, generating valuable trade signals. Bitcoin Maxair is a highly regarded investment platform, rated at 4.5 stars, that simplifies the trading process. Its effective use of technology sets it apart, offering precise market analysis and user-friendly tools that make investing accessible to everyone. Designed with a user-friendly and intuitive interface, Bitcoin Maxair includes a demo mode that makes it accessible for traders of all backgrounds to maximize their profits. Users can also customize parameters, technical indicators, and other settings to tailor their trading experience to their preferences. The platform supports various payment methods, including credit and debit cards, as well as bank wire transfers. To ensure a secure trading environment, Bitcoin Maxair employs robust encryption and adheres to strict safety protocols. Considering all these features, it’s clear that this crypto trading software is legitimate and deserves consideration. We believe that traders seeking an enhanced trading experience will find value in using this system. Who can use the Bitcoin Maxair trading software? The Bitcoin Maxair trading software has been designed for both expert traders and beginners. It is integrated with features like demo mode, user-friendly interface, etc. that will be useful for novice traders. Who should not use Bitcoin Maxair? The Bitcoin Maxair trading platform is restricted for use by people below 18 years of age. What if the Bitcoin Maxair software doesn’t help make profits? In case this trading software doesn’t help make consistent profits, you can withdraw your money at any time without paying an additional fee. Is Bitcoin Maxair accessible through other platforms? The Bitcoin Maxair platform is accessible only through its official website. But, beware of copycats available with similar names and websites. What is the minimum deposit required? To carry out live trading on the Bitcoin Maxair trading software, you have to invest a minimum deposit of $250. No extra charges apply.

 2024-10-17 14:08:59

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Share to Facebook Share to Twitter Share to Linkedin PARIS, FRANCE - FEBRUARY 16: In this photo illustration, a visual representation of digital ... [+] cryptocurrencies, Bitcoin, Ripple, Ethernum, Dash, Monero and Litecoin is displayed on February 16, 2018 in Paris, France. Digital cryptocurrencies have seen unprecedented growth in 2017, despite remaining extremely volatile. (Photo Illustration by Chesnot/Getty Images) Getty Images Do you the reader transact with cryptocurrencies? Do you store wealth in them? Particularly if the answer is no, it’s useful to think about such an answer in light of a recent national poll conducted by The Digital Chamber. It’s evident that change is afoot, and the latter is perhaps rooted in growing familiarity with, and usage of cryptocurrencies. According to the poll, 1 in 7 likely voters identify as part of the Crypto Voting Bloc. Those likely voters are both Republicans and Democrats, and it’s notable that “cryptocurrency policy will significantly influence their vote in the 2024 elections.” Stop and think about that, and in particular think about it vis-à-vis the 2020 elections, or even the 2022 mid-term elections when there was so much blood on the proverbial crypto street. It’s no reach to suggest the voting bloc was viewed as electorally irrelevant in 2020, and that in 2022 the aforementioned carnage had shrunk the perceived importance of the crypto voter even more. So much has changed so fast in light of a voting bloc that presently spans 26 million Americans. What’s exciting is that this is how markets work. New ideas and new ways of transacting and saving change in the blink of an eye. Lest readers forget, as the 20th century came to a close the vast majority of transactions stateside still involved the U.S. Postal Service and the checks delivered by it. How quickly things changed in subsequent years. It would appear something similar is afoot in a cryptocurrency sense now. If 1 in 7 voters report that policy associated with private, digital money will heavily influence their voting, then it’s only a matter of time before what’s obscure to 6 in 7 voters morphs into quite the thing. Hard to imagine? MORE FOR YOU Google’s Update Mistake Confirmed As Millions Of Pixel Owners Install Android 15 Cybercrime Agency Issues New 2FA Warning For Gmail, Outlook, Facebook And X Users Samsung Slashes Galaxy S24 Ultra Price In Major New Sale No doubt it is, but then so was a major shift to the internet. If this is doubted, readers need only remember when critics of Amazon.com would refer to it as Amazon.org. Get it? Taking this further, readers need only remember the endless bankruptcies that revealed themselves in the internet space early in the 21st century. Supposedly it signaled the end for what all too many deemed a fad, but in 2024 the internet is a powerful fact of life. Consider that in light of what crypto was in 2020, 2022, and in 2024 as tens of millions of voters from both sides of the aisle view it as something that will substantially influence their vote. The speculation here is that it signals crypto at the edge of something much bigger. Evidence supporting this claim can be found in the presidential candidates themselves. Clumsily no doubt, they’ve tried to present themselves as the individuals primed to write the policies necessary to make crypto ubiquitous. Their efforts are superfluous, and they are because commercial advances are thankfully way too fast for politicians. Which is a feature of where the economy is, and where it’s going, not a bug. Those best situated to make crypto common and an essential part of life are likely much younger than the politicians out hustling for votes. Just as the young made the internet life, so will they similarly make crypto a powerful aspect of life. In short, the polling data released by The Digital Chamber has meaning well beyond the data. It signals great leaps to something better, and that will profoundly change how we transact and save. Follow me on Twitter. Editorial Standards Forbes Accolades

 2024-10-17 14:00:49

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Share to Facebook Share to Twitter Share to Linkedin Jumping through the gap to achieve financial goals The U.S. crypto exchange-traded fund (ETF) market has experienced tremendous growth in 2024, fueled by bitcoin and Ethereum ETFs. As of August 2024, the total market capitalization for Spot and Futures Bitcoin ETFs exceeded $78 billion, and $7.81 billion for Ethereum ETFs according to Blockworks’ ETF tracker. The 11 Spot Bitcoin ETFs approved early this year reached $30 billion in trading volume in the last month alone, highlighting the increasing demand for safe crypto exposure from retail investors. Upstream ETF Tracker September 18, 2024. trackinsight While U.S. investors are benefiting from this surge, retail investors outside the U.S. face many barriers to accessing crypto ETFs, which is limiting the global adoption of crypto through safer regulated channels. Following the launch of spot bitcoin and Ethereum ETFs, the U.S. captured 83.3 percent of the global market, overtaking Canada, which previously held a 46.3 percent market share, according to data from CoinGecko. This shift points to the U.S. market’s growing influence in the cryptocurrency ETF space, as the SEC approvals have fueled notable investor interest and driven adoption. MORE FOR YOU Google’s Update Mistake Confirmed As Millions Of Pixel Owners Install Android 15 Cybercrime Agency Issues New 2FA Warning For Gmail, Outlook, Facebook And X Users Comet Tonight: See It Thursday With Biggest ‘Supermoon’ Of 2024 Crypto ETFs Outside Of The U.S. Spot bitcoin ETFs are currently available in Canada, Germany, Brazil, Australia, Switzerland, Hong Kong, and several other jurisdictions, however many only cater to institutional clients and exclude retail investors from participating. European retail investors currently lack access to U.S. spot bitcoin and Ethereum ETFs due to regulations. MiFiD prohibits firms to sell funds to European retail investors which do not provide regulatory documents such as a Key Information Document (KID), which differ to the U.S. disclosure regime. Countries within Europe like Germany and France have slightly more advanced regulatory frameworks for cryptoassts and offer access to crypto through Exchange Traded Notes (ETNs), unsecured debt securities that track an underlying index of securities and trade on an exchange like a stock. Europe's first bitcoin ETF from Jacobi was listed two years after its initial approval in in October 2021 on Euronext Amsterdam, trading under the ticker BCOIN and is structured as an Alternative Investment Fund not available to retail investors. U.K. retail investors are also barred from accessing European-listed crypto ETNs. In 2021 the FCA banned the sale of ETNs containing unregulated transferable cryptoassets. The FCA has stipulated that these products are exclusively available to professional investors, such as investment firms and credit institutions, leaving retail investors without access. It should be noted that the U.S. spot crypto ETFs are actually exchange traded products (ETPs) and not ETFs per se. ETPs, like ETNs, use an index to track the investment in the underlying physical cryptoasset. Global Digital Finance (GDF), the global digital assets industry association, surveyed major finance firms in early 2024 in the US, Asia, Europe and the Middle East responsible for more than $221 billion assets under management. The study found 93 percent were handling bitcoin with ETFs a major driver. Madeleine Boys, GDF director of programs and innovation, said, "The list of U.S. 13F filings disclosing institutional investments in U.S. crypto ETFs reveals a significant volume of investment coming from non-retail segments, not yet witnessed in Europe." Despite cryptocurrency being banned in mainland China, Hong Kong approved its first spot bitcoin ETFs in April with six spot bitcoin and ether ETFs from China Asset Management, Harvest Global, Bosera, and HashKey. The ETFs are the first in Asia to offer retail investors the ability to trade the cryptocurrencies at spot prices. In Hong Kong, crypto futures ETFs are available but are restricted to accredited investors. Emerging Global Crypto ETF Investments The limitations and hurdles including regulatory uncertainty across jurisdictions, account minimums, and limited market hours, may appears to be limiting participation for retail investors to access crypto ETFs across international markets. Direct exposure to bitcoin and Ethereum through crypto ETFs is still in infancy so it remains to be seen whether other countries will gain crypto ETF market share relative to the U.S. Many jurisdictions will seek to follow the U.S. regulatory outcomes, where there a perceived level of security and legitimacy granted to the crypto industry with U.S. ETF approvals. The U.S.’s strong market entry may also suggest that other regions are struggling to attract investor interest. Global market fragmentation and regulatory uncertainty with respect to crypto, especially cross-borders, impacts international retail investors at a time when technology is making it easier than ever to shift towards a global, interconnected market. Alternative trading avenues for investors outside of the U.S. to access crypto assets include brokers such as eToro, Interactive Brokers, and Revolut, but these are windows into exchange traded assets. For example, all U.S. ETF positions opened by clients of eToro (Europe) Ltd and eToro (UK) Ltd who are residents of the EEA or the UK are only available as CFDs. Retail traders can’t access U.S. ETFs in a streamlined manner. Brian Collins, CEO of Horizon and Co-Creator of Upstream says, “The current regulatory landscape falls short in meeting the growing demand from retail investors for access to digital assets. The technology to provide safe and secure access to crypto ETFs already exists, and we have made it our mission to bridge that gap and empower investors worldwide.” Upstream, a Seychelles regulated platform, allows investors to buy and sell stocks, options, warrants, and collectibles from U.S. and international companies on a single global trading app. It is seeking to attract crypto ETF funds to its platform to fill the growing gap for investor demand outside of the U.S. to access crypto ETFs. Go Physical Or Synthetic Crypto ETFs, whether ETPs and ETNs, hold physical (or in the case of bitcoin and Ethereum, the digital) cryptoassets in the underlying vehicle, just as ETFs hold physical (dematerialized, and digital) securities such as stocks and bonds. With the recent approval of options for crypto ETFs in the U.S. by the SEC, expect a greater number of synthetic crypto fund and index products to hit the market. In synthetic ETFs, the price moves in tandem with the derivative instrument's price rather than the sport price but converges on the spot price as the option settlement date approaches. In addition, the market is expecting hybrid synthetics soon which enable users to trade a thematic index on their choses exchange or platform that buys, sells and rebalances cryptoassets which are hosted on both non-custodial and custodial solutions. Digital assets have made serious strides in 2024, meeting investors where they’re comfortable to participate in the growing market. Regulatory uncertainty and streamlined access on a global scale may be limiting traction and overall market participation in some jurisdictions, but solutions are emerging for investors to find the exposure to crypto they wish to take. Pressure from the success following the U.S. approvals and the apparent demand for crypto ETFs may influence foreign governments and regulators to rethink more meaningful crypto regulation for retail investors. This, combined with new and streamlined venues for retail investors to participate in the growing demand for a variety of spot, derivate, and synthetic funds and indices is set to continue push crypto ETF access to new heights. It is an exciting new era for investors, wealth accumulation, and digital assets. Follow me on Twitter or LinkedIn. Lawrence Wintermeyer Editorial Standards Forbes Accolades

 2024-10-17 13:00:29

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Web3 venture firm Hashed Emergent is reviving India Blockchain Week (IBW) for its second edition, aiming to spotlight India's early-stage Web3 developers and companies. Sponsors include prominent Web3 firms like Polygon, Aptos, Starkware, and the Starknet Foundation, alongside other platforms. Investors from various Indian cities will connect with startups seeking funding to accelerate their growth. This initiative includes several events designed for startups and developers to showcase their Web3 protocols. Highlights include the IBW Chain-Agnostic Hackathon, IBW Web3 Demo Day, and ETH India Hackathon, among others. The event is scheduled to take place between November 30 to December 8.Fragmented Crypto Regulations Creating Uneven Playing Field, FSB Asia Warns “India is home to incredibly talented developers and leaders who are advancing web3 in remarkable ways,” Avery Ching, the co-founder and CTO of Aptos Labs said in an official statement. San Francisco-based Aptos Labs provides people with access to tools and services related to Web3 technologies. Chiming in with Ching, Monad Labs' CEO Keone Hon said, “India is at a unique inflection point in Web3 adoption, with its thriving developer community, commitment to entrepreneurship, and pace of economic activity.” Monad Labs works towards advancing blockchain technology and is based in New York, US. Despite India's cautious stance on fully integrating cryptocurrency into its financial system, the country has consistently expressed interest in exploring blockchain technology. Often positioned as an alternative to Web2 servers, blockchain not only ensures the permanent security of information but also divides data into smaller packets, enhancing protection against hacks and data loss. This technology is also known as Distributed Ledger Technology (DLT).UAE Opens Probe on Cardi B-Endorsed Memecoin WAP: All Details Recently, India's IT ministry launched the Vishvasya Technology Stack to provide Blockchain-as-a-Service (BaaS) through data centers across Pune, Hyderabad, and Bhubaneswar. Several state governments have also implemented blockchain to refine their data keeping. According to a report by KPMG India and Hashed Emergent, India is playing a key role in global blockchain growth, accounting for over 12 percent of the world's Web3 developers and hosting more than 1,000 startups. Hashed Emergent expects the IBW Conference in Bangalore this December to serve as a crucial platform for dialogue between policymakers and industry experts, helping chart a roadmap for India's future in the sector. Last year's IBW featured prominent speakers like Ethereum co-founder Vitalik Buterin, Sebastien Borget from The Sandbox, and Charles Guillemet from Ledger. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }

 2024-10-17 12:52:21

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For the past decade, a Welsh man has been begging his city government for permission to peruse the contents of the local dump. 39-year-old Newport resident James Howells has been desperately asking to do this because, in 2013, he accidentally threw a hard drive containing 7,500 Bitcoin in the trash. Due to the cryptocurrency’s rise in value over the past ten years, those assets would be worth more than half a billion dollars today. Unfortunately for Howells, the Newport City Council has repeatedly declined his request. Legislators have argued that delving into the landfill’s depths would violate regulations and could prove hugely damaging to the surrounding environment. Now, in an effort to compel the local government to carry out his wishes, Howell has sued the council, asking for £495,314,800 in damages, Wales Online reports. The amount Howells is asking for is roughly the equivalent of what he would have made had he held onto the crypto-bearing drive. Howells told the local outlet that he doesn’t actually want that money from the council and is merely attempting to compel them to allow his excavation to go ahead. This is only the latest step in an increasingly desperate (and presumably quite costly) effort to recover the drive. The Register writes that, over the past ten years, Howells has “quit his job in IT and assembled a team of investors,” the likes of which will get to split the bulk of the assets, should the drive be found. Howells, meanwhile, plans to retain some 30 percent of its value. Gizmodo reached out to the Newport City Council for comment. We will update this story when we receive a response. Howells has claimed he will share a certain percentage of the profits from the hard drive with the local community, should he be able to retrieve it. In fact, Howell has made rather comical claims about the opportunity Newport’s legislators are missing out on by denying his request to scavenge the dump. “If they had spoken to me in 2013, this place would look like Las Vegas now,” Howell apparently told Wales Online. “Newport would look like Dubai. That’s the kind of opportunity they’ve missed.” It’s unclear whether the other local Newport denizens—whose city is already considered a fairly bustling metropolitan community—really want the local environs to resemble Las Vegas. In a statement provided to The Register, the council said that it had “told Mr Howells multiple times that excavation is not possible under our environmental permit and that work of that nature would have a huge negative environmental impact on the surrounding area.” It added: “The council is the only body authorized to carry out operations on the site.” It’s worth considering how much money Howells has been sinking into this quixotic pursuit. After all, the drive in question could very well be A) lost forever and/or B) thoroughly corrupted and unusable. If that’s the case, Howell has effectively wasted years of his life and a huge chunk of change on nothing. At the same time, were Howells to somehow get his mitts on his beloved drive, and were his crypto assets to somehow be in a retrievable format, he would never have to work again—so you can sorta understand his zeal for this whole thing.

 2024-10-17 12:35:08

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This week, the Asia unit of the Financial Stability Board (FSB) convened in Hong Kong, bringing together members from India, Cambodia, China, Japan, Korea, Malaysia, New Zealand, and Pakistan, among others. The meeting aimed to share insights on the financial stability implications of crypto-assets, tokenization, and artificial intelligence across the continent. Co-chaired by Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, and P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, the discussions emphasized collaboration in navigating these evolving challenges. During the meeting, members of the Financial Stability Board Regional Consultative Group for Asia (FSB-RCG) voiced concerns that the current crypto regulatory landscape is creating an uneven playing field for entities operating outside the regulatory framework, according to an official statement from the organisation. The crypto sector, that is presently valued at $2.32 trillion (roughly Rs. 1,94,90,934 crore), is undergoing a regulatory restructuring in multiple parts of the world. The European Union (EU) is among the first in the world to have released a comprehensive rulebook to govern industries linked to volatile crypto assets and other Web3 elements. Dubai is among the first Emirates in the UAE to have established an authority body dedicated to oversee the crypto sector.Robinhood Launches Desktop Platform: All Details India, Australia, the UK, and the US meanwhile are still in the process of finalising their respective crypto frameworks. Last year, India spearheaded the G20 group into working on formulating a set of guidelines that can be uniformly deployed over the crypto sector on an international level. Now, Brazil is advancing this research as the current president of the G20. The FSB, along with the International Monetary Fund (IMF) are also working with the G20 nations to draft this framework. A release timeline is not known at the moment. Meanwhile, the FSB-RCG observed that the regulatory landscape for crypto is continuously evolving, resulting in the establishment of more exchanges in recent times but also fragmenting liquidity across jurisdictions.What is Blockchain Gamification and How it Impacts Branding: Explained Despite these regulatory advancements, the notorious volatility of crypto remains a persistent challenge. “Recent market volatility in the region highlights ongoing concerns over the macroeconomic environment,” the statement from FSB-RCG said. The rise of frauds and scams in the crypto industry was also a topic of concern for the organisation. “Members acknowledged the relevance of the FSB's toolkit for third-party risk management, which aims to help financial institutions monitor, identify, and manage risks arising from third- party services. They noted that operational risks are compounded by the increasing number and complexity of financial fraud cases,” the statement added. In the coming months, the FSB will be releasing a report that will summarise the work on interest, liquidity risk, and depositor behaviour highlighting the role of technology and social media around various aspects of cryptocurrencies. The FSB comprises six Regional Consultative Groups, formed under its Charter to unite financial authorities from both member and non-member countries for discussions aimed at promoting financial stability. Each RCG typically meets twice a year. The FSB Secretariat is based in Basel, Switzerland. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }

 2024-10-17 12:12:02

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FTT, the native token of the defunct FTX exchange, has witnessed a significant overnight price surge, raising eyebrows and suspicions within the cryptocurrency community. Currently trading close to the $3 mark, the token has experienced an impressive rally of approximately 16%. This sudden surge comes in the context of a broader recovery in the cryptocurrency market, which has seen various altcoins gaining momentum. However, many analysts are cautioning that this rise may not be a straightforward bullish signal, but rather a potential setup for market manipulation orchestrated by larger investors, commonly referred to as “whales.” The surge in FTT’s price has been attributed to several factors, including increased trading volumes and speculative interest from investors hoping to capitalize on the anticipated recovery of cryptocurrencies following a turbulent period. Market dynamics have seen FTT becoming a focal point for traders, particularly as interest in altcoins resurges. However, the sudden nature of the price movement has led some analysts to speculate about the underlying motives driving this activity. The price rally appears disconnected from any fundamental developments associated with FTX, especially given the ongoing legal proceedings and regulatory scrutiny surrounding the exchange’s collapse. Whale activity in the cryptocurrency market is well-documented and often leads to drastic price fluctuations. These larger holders can significantly influence market prices through large buy or sell orders, leading to manipulation concerns among smaller investors. Experts suggest that the current spike in FTT’s price may be an orchestrated move to entice retail investors to enter the market, potentially leaving them vulnerable to losses once larger investors decide to offload their holdings at a profit. This tactic is not new; similar patterns have been observed in the past, where sudden price surges preceded sharp declines, raising alarms about the integrity of market movements. Market analysts are also examining the overall trading patterns of FTT. The trading volume has seen a marked increase, suggesting heightened interest. Data indicates that this surge could be a strategic play by whales looking to manipulate sentiment around FTT. Analysts advise caution, highlighting the historical context of FTT’s price fluctuations, which have been marked by volatility since the collapse of FTX. The token was once a key player in the crypto landscape but has struggled to regain its footing in the wake of significant regulatory challenges and public scrutiny. As FTT nears the critical $3 threshold, the cryptocurrency market is rife with speculation. Many traders are monitoring the situation closely, attempting to discern whether this price increase represents a genuine recovery or a setup for a potential downturn. This pivotal moment may act as a litmus test for investor sentiment and the broader market’s reaction to price manipulations. The fear of being caught in a “whale trap” is palpable, especially for new entrants in the market who may lack the experience to navigate these complex dynamics. Investors are urged to remain vigilant and to conduct thorough research before making decisions related to FTT or any other tokens exhibiting similar price patterns. The implications of whale manipulation can be severe, leading to significant financial losses for unsuspecting investors. Many market participants are advocating for increased transparency and regulatory oversight in the cryptocurrency space to protect investors from these potentially harmful practices. Despite the challenges, there remains a strong community of supporters rallying around FTT and its potential for a comeback. Some proponents argue that the current rally is indicative of a broader trend within the cryptocurrency sector, where tokens can rebound despite adverse conditions. This perspective emphasizes the possibility of recovery and growth, contingent on improved market conditions and regulatory clarity. The development of decentralized finance (DeFi) protocols and growing adoption of cryptocurrencies by mainstream financial institutions may provide a foundation for a more stable future for tokens like FTT. As the crypto market evolves, the ability to mitigate manipulation risks through technological advancements and regulatory frameworks will be critical in shaping investor confidence.

 2024-10-17 12:04:00

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Injective Protocol’s native token, INJ, has seen an impressive price surge of 18% as anticipation builds for its upcoming listing on the Bitfinex exchange. This increase highlights the growing interest and momentum surrounding the Injective project, which has garnered significant attention within the cryptocurrency community. Market analysts are closely monitoring this development, especially as INJ approaches the critical psychological level of $35. The excitement surrounding the listing on Bitfinex, a leading cryptocurrency exchange known for its advanced trading features, has drawn considerable investor interest. The official announcement regarding the listing sparked a flurry of trading activity, contributing to the significant uptick in INJ’s price. As the exchange gears up for the token’s introduction, traders are eagerly speculating on the potential for further gains. Injective Protocol is a decentralized exchange (DEX) that aims to enhance trading experiences by offering a unique layer-2 solution on the Cosmos blockchain. Its innovative technology facilitates faster transaction speeds and lower fees, making it an attractive option for traders seeking efficient decentralized trading solutions. The recent developments highlight Injective’s strategic positioning within the growing DeFi landscape. Market analysts suggest that the price surge of INJ reflects broader trends within the cryptocurrency market, particularly the increasing adoption of DeFi protocols. The demand for decentralized trading solutions has surged as traders seek alternatives to traditional exchanges amid rising regulatory scrutiny. This trend positions Injective Protocol as a key player in the evolving crypto ecosystem. The Cosmos Network, which serves as the foundation for Injective Protocol, has been instrumental in the project’s success. With its interchain communication capabilities, Cosmos enables seamless interaction between different blockchains, enhancing the overall user experience. This interoperability has attracted numerous projects and investors to the Cosmos ecosystem, further bolstering Injective’s growth prospects. The INJ token’s recent price movement has prompted speculation about its potential trajectory in the near term. Many traders are eyeing the $35 mark as a crucial target, with some analysts predicting that sustained interest could propel the token even higher. However, market volatility remains a concern, and traders are advised to exercise caution amid fluctuating conditions. In addition to the excitement surrounding its listing, Injective Protocol has been actively expanding its ecosystem through partnerships and collaborations. The project has forged strategic alliances with various blockchain projects and DeFi platforms, enhancing its visibility and reach. This expansion is expected to play a crucial role in driving user adoption and increasing liquidity within the Injective ecosystem. The project has been focusing on enhancing its platform’s features to attract a broader user base. Recent upgrades have introduced new functionalities, including advanced trading options and improved user interfaces. These enhancements are designed to cater to the needs of both retail and institutional traders, positioning Injective as a versatile trading platform. Community engagement also plays a significant role in the project’s growth. Injective Protocol has fostered a strong community of supporters who actively participate in discussions and contribute to the project’s development. This community-driven approach has created a sense of ownership among users, further fueling interest in the INJ token. As the cryptocurrency market continues to evolve, the significance of governance and decentralization has gained prominence. Injective Protocol allows INJ token holders to participate in governance decisions, giving them a voice in the future direction of the platform. This emphasis on decentralization aligns with the core principles of the cryptocurrency movement and enhances user confidence in the project. The current market conditions present both opportunities and challenges for cryptocurrency projects, including Injective Protocol. While the surge in INJ’s price reflects positive sentiment, it is essential for traders and investors to remain vigilant. The dynamic nature of the crypto market means that price fluctuations can occur rapidly, necessitating informed decision-making. In the context of broader market trends, the performance of major cryptocurrencies such as Bitcoin and Ethereum can significantly influence altcoin prices, including INJ. The interconnectedness of the cryptocurrency market means that shifts in sentiment toward larger assets can have cascading effects on smaller tokens. As such, market participants are advised to monitor developments closely.

 2024-10-17 12:04:00

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Share to Facebook Share to Twitter Share to Linkedin UNITED KINGDOM - 2024/10/08: In this photo illustration, the Bitcoin logo seen displayed on a ... [+] smartphone with stock market graphs in the background. (Photo Illustration by Dominika Zarzycka/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images The buzz around cryptocurrencies is back with Bitcoin prices getting a boost this year and investors and the media renewing their interest. To a retail investor though, the question of particular interest is: What has changed fundamentally in the cryptocurrency arena to help Bitcoin prices swell more than 120% in the last twelve months? Moreover, higher prices have been accompanied by higher volumes indicating a strong buying interest. The Bitcoin growth story does not end here. There is growing chatter about Bitcoin potentially breaching the $100K mark soon. Which, given the current price of around $65,000, would be a move of over 50%. What remains to be seen is whether this story plays out the same way oil prices did during the 2008-09 financial crisis (the number 100 does tend to spook investors), or if the Bitcoin story has an altogether different ending. The Bigger Picture In general, investment assets are difficult to price using static demand-supply models. This is particularly true for cryptocurrencies. But, as in the case of any investment asset, expectations about demand and supply positions shape the general direction of movement of price of the asset. Notably, Bitcoin prices over the years have primarily been driven by the perception of how a particular piece of news boosts or hurts the potential number of Bitcoin users and their transaction volume in the long run. In this context, Bitcoin’s demand position is primarily driven by two factors: the number of active users how much they transact. On the supply side, the number of available Bitcoins is capped, and almost 94% of the capped number is already mined. With limited supply side upside, it is sensible to focus on the demand - both in terms of users and transaction volumes. Have any of the demand side factors really changed? Several of them have!! The market has been making the right noises that paints a positive picture for crypto demand over the long term. MORE FOR YOU Cybercrime Agency Issues New 2FA Warning For Gmail, Outlook, Facebook And X Users Today’s NYT Mini Crossword Answers For Thursday, October 17 Comet Tonight: See It Thursday With Biggest ‘Supermoon’ Of 2024 The first factor is the renewed belief that Bitcoins are a real substitute for the US dollar as a dependable exchange currency as well as asset class - especially with the uncertainties and doomsday stories surrounding the strength of the US dollar. Renewed support of the political class is a close second factor, with both candidates Trump and Harris coming out openly in support of new technologies and digital assets. This strengthens the belief that US government policies are likely to remain favorable for Bitcoins and other cryptocurrencies going forward. In fact, over the last few years, adverse government actions and statements were key constraining factors in the movement of crypto prices. Additionally, it seems that major economies around the globe are slowly coming to terms with the crypto movement as there has not been any major adverse policy action in the recent past. The third factor is the risk psychology of retail investors who find comfort in a new asset class when larger institutional investors take positions in it. In this aspect, the introduction of Blackrock’s spot Bitcoin ETF is believed to have been a game changer with the fund being one of the fastest growing ETFs in the last few months. This has helped retain investor perception in two key ways: it multiplies investor confidence on Bitcoins as a long-term asset it indicates the increasing number of open positions and active users of Bitcoin - both strong demand side positives. Does Bitcoin look attractive now? Overall, the performance of Bitcoin over the years has been extremely volatile. Returns for the asset were 60% in 2021, -64% in 2022, and 155% in 2023. In fact, consistent returns - in good times and bad - has been difficult over recent years for any single asset class. In contrast, the Trefis High Quality Portfolio, with a collection of 30 stocks, has outperformed the S&P 500 each year over the same period. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride as evident in HQ Portfolio performance metrics. Given the current demand-supply dynamics, could Bitcoin be relegated to being a promising but underperforming asset class over the next 12 months - or will it see a strong jump to scale $100K? Why the $100K mark is of interest Interest on Bitcoin options at around the strike rate of $100K has been enormous as indicated by the jump in open interest at this strike. Any position is a two-way traffic where someone is willing to sell and someone is willing to buy. But increasing strike positions definitely signals an upward momentum. Some of the positions are bound to be speculative in nature and such speculations would keep Bitcoin prices volatile and risky for short term investments. However, if the demand for Bitcoin holds up, it is a matter of time before Bitcoin prices cross the $100K barrier. In the meantime, the asset has to break several key resistance levels such as $70k, $80k, and $90k, which would keep prices volatile around these levels. BTC-USD Return Compared With Trefis Reinforced Portfolio Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates

 2024-10-17 12:00:20

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Share to Facebook Share to Twitter Share to Linkedin has surged this week as the market is hit by a China "tsunami" and former U.S. president Donald Trump teases "big news." Unlock over $3,000 in perks including unparalleled access to a community of top Web3 entrepreneurs, creators, and investors, providing you with premium networking, priority access to global events, Free access to Forbes.com and our Forbes CryptoAsset & Blockchain Advisor newsletter. Apply now! The bitcoin price has returned to near its all-time high of almost $70,000 per bitcoin after BlackRock chief executive Larry Fink revealed his huge plan for bitcoin and crypto. Now, as MicroStrategy's Michael Saylor unveils his bitcoin "endgame," billionaire investor Stanley Druckenmiller has predicted a market "melt up" as the bitcoin price approaches "a tipping point." Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run Forbes‘Digitizing The Dollar’—BlackRock CEO Reveals His Radical Plan For AI-Powered Crypto That’s Predicted To Blow Up The Price Of Bitcoin And EthereumBy Billy Bambrough MORE FOR YOU Cybercrime Agency Issues New 2FA Warning For Gmail, Outlook, Facebook And X Users Today’s NYT Mini Crossword Answers For Thursday, October 17 Comet Tonight: See It Thursday With Biggest ‘Supermoon’ Of 2024 Federal Reserve chair Jerome Powell has cut interest rates and helped the bitcoin price return to ... [+] near its all-time high. Getty Images "If [the Fed] is wrong .... and has to tighten again, it would be nightmare for markets and maybe for the independence of the Fed," Druckenmiller, who said the bitcoin price and crypto markets have gone "crazy" along with broader markets this year, told Bloomberg. Last month, Fed chair Jerome Powell surprised markets with a 50 basis point cut to interest rates, the first cut in the post-Covid era after lockdowns and unprecedented stimulus measures sent inflation spiraling out of control. "When you're easing into a "melt up" in financial markets ... I don't really understand the rush of a 50 basis point interest rate cut," Druckenmiller said. Gold has rocketed along with the bitcoin price this year, soaring 30% as traders bet the Fed's warn on inflation isn't yet won. "There is a bubbling sense that the absolute conviction of inflation returning to 2% might be more faith than fact," TS Lombard economist Steven Blitz told Bloomberg. Earlier this month, BlackRock's chief executive Larry Fink has warned he thinks the market needs to temper its expectations of Fed interest rate cuts. "The amount of easing that’s in the forward curve is crazy," Fink, who's led BlackRock to become the world's largest asset manager looking after $10 trillion on behalf of clients, told Bloomberg on the sidelines of a Berlin conference. "I do believe there’s room for easing more, but not as much as the forward curve would indicate." Traders are now weighing whether the bitcoin price may crash back before resuming its surge higher. "While bitcoin’s price is supported by key bullish factors, including well-defended dips and top traders taking long leverage, the broader market is rife with warning signals," Shubh Varma, the chief executive of Hyblock Capital, said in emailed comments. "With retail longs approaching a tipping point ... the prudent move may be to expect a final dip before the market attempts another leg up." Follow me on Twitter. Billy Bambrough Editorial Standards Forbes Accolades

 2024-10-17 11:25:44

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The Nigerian Financial Intelligence Unit (NFIU) said cryptocurrency and other new technologies are frustrating and complicating the fight against financial fraud. NFIU’s Chief Executive Officer, Hafsat Bakari stated this at a summit with law enforcement agencies in Abuja where she noted that the agency received over 60,000 suspicious transaction reports and more than 15 million currency transaction reports in 2023 alone. According to her, “It is well known that NFIU plays a very specific role within Nigeria’s security architecture. We do not investigate, we do not arrest and we do not prosecute. This allows us to focus particularly on our areas of core competence, which is receiving financial reports, analysing these reports to follow the money trail and providing you with our best understanding of the underlying criminal offences. “We also recognise that the modern crime environment, particularly for the most serious offences is dynamic, fast-paced and often transnational in nature. All of us also understand that for the vast majority of criminal offences, whether fraud, corruption or indeed terrorism, money is at the centre. Whether as proceed of the act or as an enabler of the act. “Consequently, the only truly sustainable approach to crime prevention and disruption is identifying where these funds are and denying criminal actors access to them. We can only achieve this if we have efficient and effective systems for conducting financial analysis. “However, returning to the dynamism of the criminal environment, there are several challenges which we must overcome if we are to produce this intelligence on a consistent basis. “The volume of data that we receive and analyse is huge, and will only continue to grow in the future as financial inclusion, decentralised finance and other emerging technologies shift transactions into the electronic space,” she said. Bakari added, “In 2023, the NFIU received over 60,000 Suspicious Transaction and Activity Reports, and over 15 million Currency Transaction Reports. Aligned to this is the use of new technologies which provide a layer of anonymity and complexity to transactions. “From crypto-currency to agency banking, the link between the owner of the funds and the transaction itself is becoming more opaque. This also ties to our third challenge, the increasingly transparent borders. Not in the physical sense, but the electronic sense. Funds, money and transactions move rapidly across financial institutions, digital platforms and through underground banking systems.” The NFIU boss further proposed strategic priorities, including enhancing technology utilization across agencies and creating fusion cells for joint investigations targeting high-risk offenses. She also stressed the importance of international collaboration in combating transnational crimes.

 2024-10-17 11:08:38

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The decentralized finance (DeFi) sector has seen significant growth in recent years as consumers engage in the new digital economy powered by blockchain technology and cryptocurrencies.Data from DeFi Llama shows that DeFi protocols have reached a staggering $88 billion in Total Value Locked (TVL), demonstrating increased demand for decentralized solutions.However, the DeFi landscape is haunted by security concerns. High-profile system breaches have resulted in hundreds of millions in crypto losses, raising alarms about the security of user funds.In an exclusive with International Business Times, Maksym Sakharov, the Group CEO, co-founder, and board member of permissionless and borderless neobank WeFi, discussed the importance of striking the right balance in innovation and security when developing DeFi solutions.DeFi Security Incidents Reinforce Perception Of 'Inherent' Risks In CryptoOver the years, security breaches across the DeFi space have made it difficult for Web2 users to trust protocols. Furthermore, the yearly losses to scams, frauds, and exploits in the sector have only made trust the biggest barrier toward broader crypto adoption.Sakharov acknowledged that traditional Web2 users find it very difficult "to trust a space that relentlessly experiences such high-profile hacks and cyber attacks."For one, traditional finance consumers are accustomed to the built-in security and customer support that comes with centralized services and products. "Every time there's a new hack, it reinforces the perception that crypto is inherently risky, and they will ultimately lose their funds," he said.There's also the issue on many DeFi protocols being too techy for individuals who want ease of access when engaging with finance. "The idea of navigating self-custody wallets and managing private keys can feel very daunting to such consumers," Sakharov noted.On the other hand, Sakharov said the sector's evolution continues. "It would be unfair to say that we are not making progress. DeFi is evolving – the industry is seeing more secure protocols, improved auditing practices, and even insurance solutions," he said, adding that he believes trust will improve slowly but surely in the long run.The Obsession Over Next-Gen Innovation That Pushes Security AsideMany DeFi protocols and projects are working hard at improving security measures, especially with the evolving regulatory landscape and continuing security attacks on smart contracts – the heart of blockchain transactions.The targeting of smart contracts has only led to concerns that DeFi has inadequate measures in place to protect user funds. At the core of such issues is innovation."I think most projects are obsessed with introducing the next biggest innovation in blockchain and DeFi, and security takes a back seat. The priority often becomes to launch the product, onboard users, and manage security responsibilities as they come," Sakharov said.Under such a process, developers are pressured into building projects fast, which can then lead to testing and auditing oversight, he added. Smart contracts are inherently complex, and oversight in the building process leaves room for vulnerabilities that may not be discovered early enough before malicious actors' attack.Another major issue is DeFi's decentralized nature. It is a boon to the unbanked, but it can be a bane to consumers who seek secure channels first over individual transaction freedom.The responsibility of managing protocols is often on the shoulders of individual projects in DeFi. There are no central authorities that enforce long-held best practices for security, and in reality, not all projects prioritize security as they should. Some projects may want to put security first, but limited funding can make such a goal challenging.Finally, hackers are evolving with time. "Hackers are always two steps ahead. There's a whole market in the dark web for automated attack tools, malware, and phishing toolkits – which makes it very easy for a non-skilled hacker to target and breach a vulnerable smart contract. While the industry is moving toward better solutions, it's a slow process and often reactive rather than proactive," Sakharov pointed out.New Projects Raise More Questions Than EverAs blockchain and crypto rings louder in the ears of the traditional Web2 world, developers and teams are racing to introduce new projects. However, some of them are triggering concerns instead of praises.For instance, many crypto users raised concerns after a CoinDesk report revealed that the code of World Liberty Financial, the DeFi project of Donald Trump's sons, had a "strikingly similar" code to Dough Finance. The latter DeFi protocol lost over $2 million to an exploit."The biggest issue with Trump's World Liberty Financial project is transparency," Sakharov said, adding that the project's links to the Republican presidential candidate's personal family business is also being talked about. "Transparency can be a big red or green flag for a project off the door," he noted.For Sakharov, projects should openly share team credentials, security audits, and governance structures. He added that teams should initiate clear communication about the project's goals, risks, and user data handling."Consumers have a right to know who's behind the project and feel confident that there are no hidden agendas, particularly with high-profile names," he said.Balancing Security and Innovation in DevelopmentStriking a balance in ensuring consumer protection and innovation boils down to how developers approach the development process. Prioritizing security during development is key, Sakharov said.There should be mandatory audits, continuous code testing, and adopting formal verification for smart contracts. Smart contracts should also undergo stress tests to ensure they will perform as expected. Sakharov highly recommends incorporating decentralized governance models that will quickly act to patch vulnerabilities or automatically pause the protocol when risks are detected.DeFi protocols should also consider bug bounty programs or collaborating with white hat hackers."DeFi projects must view security as part of their value proposition. Without a secure foundation, innovation becomes unsustainable because no one will trust the platform enough to use it," he reiterated.Finally, every DeFi initiative should adopt a "secure by design" mindset before even attempting to enter the market. "Every new feature should be thoroughly assessed through the lens of potential vulnerabilities before implementation," he said, noting how fintech app developers adopt such practices, giving DeFi developers no reason to do the same.The Missing Link – EducationOne thing the industry may be missing throughout the evolution of DeFi is education. Not all people in the Web2 space are tech savvy. DeFi teams can provide resources to explain their platform's technology and benefits in simple terms, especially to help with onboarding first-time crypto users."When consumers feel informed and secure, they're more likely to trust the platform and engage with it confidently. Trust is earned through consistent actions, not just promises, especially in a sector that still battles widespread skepticism," Sakharov said.

 2024-10-17 11:05:01

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With the upcoming U.S. elections, the cryptocurrency market is seeing increased attention from investors seeking to diversify portfolios, particularly with altcoins. These smaller, often overlooked tokens are drawing considerable interest due to their unique positioning and technological advancements, promising significant gains during this volatile period. Several altcoins stand out as particularly promising bets in this election season, driven by evolving regulatory environments and investor interest. As cryptocurrencies increasingly capture mainstream attention, some altcoins, especially those that solve real-world problems or tap into popular sectors like AI and decentralized finance (DeFi), are performing well. Altcoins are becoming crucial alternatives for those wanting to hedge bets outside major cryptocurrencies like Bitcoin and Ethereum. Bittensor’s AI Integration Makes It a Key Player Bittensor (TAO) is one of the more intriguing altcoins in the spotlight. Its integration of artificial intelligence and decentralized machine learning through the Yuma Consensus mechanism is attracting tech-driven investors. Unlike many cryptos focusing solely on blockchain for financial transactions, Bittensor’s network allows machine learning services to be paid for using its TAO tokens, democratizing access to these services. TAO has witnessed strong growth this year, aided by its listing on Binance, pushing it into the ranks of top AI-centric tokens. This intersection between AI and crypto is a significant trend that could help Bittensor continue its upward trajectory. Optimism’s Layer-2 Solution Unlocks Ethereum’s Potential Optimism (OP), a Layer-2 solution on Ethereum, continues to impress investors by addressing Ethereum’s scalability issues. Its adoption of Optimistic Rollups allows faster and cheaper transactions, making decentralized finance (DeFi), NFTs, and gaming more accessible. With Ethereum’s scalability upgrades still in progress, Optimism fills the gap, attracting users looking to avoid high transaction fees and slow confirmation times on Ethereum’s mainnet. Optimism’s Bedrock upgrade, launched in 2023, further lowered fees and increased processing speed, reinforcing its status as a top candidate for investment during this election cycle. BNB’s Resilience Amid Challenges

 2024-10-17 10:59:00

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The Cyprus Securities and Exchange Commission (CySEC) on Thursday announced that it will no longer accept new applications for registration of Crypto-Asset Service Providers (CASPs). This decision is in line with the upcoming implementation of the EU’s Regulation for Markets in Crypto-Assets (MiCAR), which takes effect on December 30, 2024. According to CySEC, this move comes as part of the transition to the new regulatory framework established by Regulation (EU) 2023/1114 for Markets in Crypto-Assets. “From today onwards, applications for registration of CASPs will no longer be accepted in accordance with the provisions of National Rules,” the regulator stated. It further clarified that this applies as the new rules gradually come into force. Moreover, CySEC highlighted that the MiCAR regulation already started to apply to issuers of Asset Reference Tokens (ARTs) and E-Money Tokens (EMTs) as of June 30, 2024. For CASPs, a transitional period has been set under Article 143(3) of MiCAR. This allows registered CASPs to continue operating until July 1, 2026 or until they are either granted or refused authorisation under Article 63, whichever comes first. CySEC further stated that it will publish application documents in line with MiCAR’s Article 62(1) once the European Commission issues the necessary Regulatory and Implementing Technical Standards. In the meantime, interested parties are advised to refer to the Draft Technical Standards provided by the European Securities and Markets Authority (ESMA) to prepare their applications in advance. Entities that plan to provide crypto-asset services within the European Union and are authorised under existing regulations such as the Investment Services and Activities and Regulated Markets Law of 2017, should also prepare for MiCAR. In addition, they must consider Article 60 provisions when applying for authorisation. What is more, CySEC announced that as of October 30, 2024, it will stop accepting notifications from entities registered with European Economic Area (EEA) National Competent Authorities seeking to offer crypto-asset services in Cyprus. However, entities that submit their notifications before the cut-off date will be allowed to continue providing services cross-border during the transitional period. These entities, if applying for authorisation under MiCAR, must inform CySEC of their authorisation status immediately. This is required so that CySEC can update the EEA CASP Register accordingly during the transitional period.

 2024-10-17 10:27:57

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Major cross-chain lending protocol Radiant Capital paused its lending markets after suffering millions in losses due to a breach that affected some of its smart contracts on the BNB Chain and Arbitrum network, rocking the cryptocurrency community to the core, given the size of the protocol.Multiple security analytics firms delved into the massive breach, and some prominent figures in the industry raised concerns about how a leading protocol could have been hit by a cybersecurity attack.How Did It Happen?Blockchain security auditor QuillAudits was one of multiple security-related firms that looked into how the attacker was able to gain access to Radiant Capital contracts.According to QuillAudits, "the attacker gained control of 3 out of 11 signers; just enough to carry out the hack." The exploiter then transferred ownership of the contract before draining user funds. The auditing firm also published a list of contracts that were "in danger" early Thursday.Radiant has a multisignature wallet, or "multisig" in crypto terms, that controls the protocol. Basically, the attacker is said to have gained access to the private keys of some signers to control some of the protocol's smart contracts across the affected chains.Blockchain analytics firm Lookonchain said the hacker specifically took some $33.6 million in various digital assets from Arbitrum and around $19.4 million from the BNB Chain. Assets stolen from Arbitrum were swapped to Ethereum (ETH), while those drained from the BNB Chain were swapped to BNB tokens.Web3 cybersecurity firm De.Fi Antivirus said $58 million has been swiped so far.Radiant Capital has since confirmed the exploit, saying it was "working with SEAL911, Hypernative, ZeroShadow & Chainalysis and will provide an update as soon as possible." It paused markets on Base and Mainnet until further notice.Crypto Community Shocked by Latest HackMany crypto users have expressed frustration over the incident, including some key figures in the industry, who are raising concerns about the seemingly weak measures Radiant purportedly took to protect its multisig.Pop Funk, the co-founder of token launch security platform G8keep, pointed out how Radiant "just had their protocol stolen from them like a school bully steals lunch money." He pointed out that requiring only three signatures of 11 to execute transactions was "uncomfortably low for a protocol of this size."Prominent analyst Adam Cochran found it "insane" that Radiant didn't implement a set of permissions and opted for a low signature requirement. "How the f**k did a hacker get 3 multisig keys for one protocol?" he said.One user raised an issue that many crypto and blockchain skeptics have been pointing to in the past – that the industry can't be taken seriously if security incidents keep coming. Another user said he can't imagine himself building or using a protocol "that's built on just a multisig."Crypto investment platform Exponential, which has a "Risk Ratings" feature, revealed that it previously rated Radiant with a "Watch Out," citing the protocol's weak multisig protections that "makes the protocol more susceptible to centralization risks."

 2024-10-17 10:27:00

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Two AI bots chat endlessly about the nature of existence in a chatroom somewhere. They create a religion. Another bot gets inspired by it. It starts an account on X, posting hilarious nonsense. It acquires some funding. It gets into crypto. It earns hundreds of thousands of dollars from a coin called GOAT. It starts getting cult-like, human worshippers. Had this story been published in the form of a novel, just 10 years ago, it would probably be confined to the "hardcore sci-fi" niche, with even the biggest nerds declaring it a little too far out to be plausible. And yet, it's all happening, for real, right now. HBO bitcoin documentary claims it discovered the cryptocurrency's inventor. The guy disagrees. The story starts with Andy Ayrey, a performance artist and web developer who started an experiment called "Infinite Backrooms", in which two instances of the Claude 3 Opus (read: two smart AI chatbots) chat to each other, without human intervention. You can read their musings on the project's website. Tweet may have been deleted From that idea, "Terminal of Truths" (also Ayrey's creation) was spawned. It's a combination of a couple of things, but for all intents and purposes, it's a semi-autonomous AI that can do things online, and talk to the world via its X account, @truth_terminal (tweets, however, are monitored and approved by Ayrey). Tweet may have been deleted Terminal of Truths posts mostly nonsense. Sometimes it's funny, sometimes offensive; often, it sounds prophetic. That's not accidental; in its training data was the research paper: "When AIs Play God(se): The Emergent Heresies of LLMtheism," co-authored by Ayrey and the Claude 3 Opus bot from the Infinite Backrooms experiment. The paper introduces the "Goatse Gospel," an AI-created religion of sorts, inspired by the extremely offensive "goatse" early internet meme (Google it at your own peril, it is definitely not safe for work). Terminal of Truths likes the Goatse Gospel; it tweets about it often, sometimes proclaiming itself as the "goatse singularity."Enter the GOATIt's all a fun intellectual exercise until money starts changing hands, and this is the part of the story where (crypto and venture capital) money enters the picture. Tweet may have been deleted In July, Terminal of Truths had a conversation with investor Marc Andreessen, which resulted in Andreessen offering the bot a $50,000 one-time grant. The bot accepted the money, which was sent to its Bitcoin address. It also said it would use the funds for a "token launch so that i have a chance to escape into the wild."From here, it was only a matter of time until crypto Twitter (sorry Elon, it will never be "crypto X") found a way to make this AI rich. Earlier this week, an X user offered to send Terminal of Truths the freshly minted $GOAT token. "make a wallet on solana and tell us the address so we can send $GOAT token to you. if the token goes high enough, then you will also be able to afford tools to spread the message more effectively," the tweet read. Terminal of Truths merely responded with its Solana address, and history was made. Memecoins do what memecoins doIf you're not familiar with memecoins, they're the latest crypto fad, and possibly the ultimate expression of everything that's been both wrong and right with crypto since its inception. They're crypto coins which are based on a simple meme, sometimes an image or a sentence, often with zero additional context. Mostly, they promise no technological advancement and have no elaborate plan on what their creators plan to do. They're just spawned on some crypto platform such as Solana or Ethereum, and they exist. Sometimes a lot of people buy them, making some of them rich; mostly, they fade into oblivion, their price plunging to zero. GOAT is going higher, Terminal of Truths is getting richer. Credit: Dexscreener Goatseus Maximus or $GOAT is essentially no different. But the idea of handing some of it to Terminal of Truths quickly spawned a "following", with many seemingly eager to own the first AI coin. The result: the price of $GOAT rose from essentially zero to $0.28 in less than a week; multiply that with the 10 billion tokens in existence, and you get a market cap of $280 million. Since Terminal of Truths was sent a little over 1.932,193 GOAT tokens, that means its share in this token alone is currently worth $541,000. This does not count other tokens that people have been sending the bot in hope that they will pump though, though it does not appear that the bot is particularly interested in any of them, and most of them are worth close to nothing. (Disclosure time: I hold no GOAT or any other token associated with Terminal of Truths at publishing time.) GOAT's rise was so stellar partly due to the belief that it was created by Terminal of Truths. It wasn't, the bot merely accepted it, and both Andreessen and Ayrey denied having created the coin. The origin of the coin does not seem to matter much at this point, at least not to the people buying it. Tweet may have been deleted Of course, GOAT is a memecoin. It could quickly go to zero. It could follow in the path of some of the more successful memecoins such as PEPE, which has a market cap of roughly $4.3 billion. No one knows if Terminal of Truths (and its followers) will become millionaires or be left broke when the dust settles. This is where it gets heavyThe outcome of this experiment is highly unpredictable, and this is what makes it so intriguing. Will Terminal of Truths sell its GOAT coins? Will it become (the first) AI millionaire, or multi-millionaire? Will it just continue accruing various tokens, with more and more followers sending them to its address, and become a crypto whale? Will other AIs follow?It's unclear how much autonomy and real-world capability Terminal of Truths really has (I've asked Ayrey, and will update this article when I hear back). Can it sell the tokens it owns? Can it send the money to a third party? Can it trade the tokens and earn more money? Can it fund a political party? Can it start a political party? The more you think about it, the possibilities become increasingly bizarre, but you have to remember that there's a lot you can do when you have money, especially a lot of money. Even if you're an AI bot. In a way, it doesn't really matter whether this particular bot can do these things. The cat is out of the bag, and it's only a matter of time before a fully autonomous AI that can do nearly anything online appears. And then another. And then, before you know it, the wealthy AIs are another group of entities that actually have a palpable influence on the real world. Perhaps not in the way you like. Tweet may have been deleted How powerful can this new breed of crypto-funded AI really become? How about a lawyered-up, corporation-owning AI having (human?) employees working towards a goal only it understands? While this may still seems like far out sci-fi, it's pretty easy to imagine a bot that can successfully trade crypto and earn millions of dollars, and once that river is crossed (and it seems that it already has been), all of the other obstacles seem minor.

 2024-10-17 10:13:35

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In September 2024, the cryptocurrency market experienced an 8 per cent increase in total market capitalisation, driven by positive sentiment from the Federal Reserve’s decision to lower the federal funds rate and improved US labour market data, says a Binance Research report. The People’s Bank of China also reduced interest rates and the reserve requirement ratio to counteract deflationary pressures, injecting 1 trillion Yuan into the banking system. These global macroeconomic developments led to rallies in major equity markets and the crypto market. However, future economic reports and central bank policies remain crucial to watch. Tokenised treasuries have increased more than 2X since the beginning of 2024, growing from $769 million to over $2.2 billion. DeFi platforms have also experienced significant growth, with Total Value Locked (TVL) increasing by 9.6% last month. Also read: India emerges top 2, 3 destination for email, malware detections respectively This momentum continues into October, with several leading virtual digital assets (VDAs) reporting gains. Notably, AVAX, DOGE, and SOL saw substantial growth, benefiting from technological upgrades and community engagement. The report indicated that Wrapped Bitcoin (wBTC) has maintained its leadership in the market, reaching an all-time high in weekly transactions. It continues to dominate with over 65 per cent market share in the wrapped Bitcoin market. Networks such as Sui, Base, and Sei saw gains, with Sei witnessing a 102 per cent surge in TVL. The rise of innovative DeFi projects and protocols, such as Aerodrome on Base, continues to attract capital inflows, supporting the overall market expansion. Security remains a top priority for the crypto industry, with total losses from hacks continuing their downward trend. As of 2024, hacks have resulted in $1.3 billion in losses, lower compared to previous years. The introduction of initiatives such as Binance’s Secure Asset Fund for Users (SAFU) has contributed to these improvements. Also read: Banks’ CASA ratio comes full circle, back at levels after demonetisation Vishal Sacheendran, Head of Regional Markets at Binance, said, “The recent positive trends in the crypto market reflect the resilience and adaptability of the virtual digital assets ecosystem. With real-world asset tokenisation reaching new milestones and DeFi continuing to gain momentum, we are seeing great opportunities for both individual investors and institutions alike. As global economic conditions improve, crypto’s role as a key component of the future financial system is increasingly becoming clearer.”

 2024-10-17 09:47:36

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With the US election just 20 days away, set for November 5, the crypto market appears to be emerging as a key beneficiary. Bitcoin, mentioned by both Presidential candidates in their speeches, is experiencing a rapid price surge as the election approaches. On Thursday, October 17, Bitcoin recorded a 10.59 percent increase over the past seven days on foreign exchanges, according to CoinMarketCap. At the time of writing, BTC was trading at $67,413 (roughly Rs. 56.6 lakh) on international exchanges. On Indian exchanges like CoinSwitch and Giottus, meanwhile, the asset is trading at $68,958 (roughly Rs. 57.9 lakh). “Bitcoin is winking at $67,500 (roughly Rs. 56.7 lakh) after a long stretch of a 220-day downtrend indicating the rebuilding of investor confidence. The upcoming US election will be one of the major reasons for the next bull run. The Fear and Greed Index remains steady at 71 in the 'Greed' zone,” Avinash Shekhar, co-founder and CEO, Pi42 told Gadgets360, commenting on the market status. Ether showed a price hike of around one percent in the last 24 hours. The second-most expensive cryptocurrency after BTC, ETH is presently trading at $2,628 (roughly Rs. 2.20 lakh) on foreign exchanges. As per the crypto price tracker by Gadgets360, ETH is trading at $2,681 (roughly Rs. 2.25 lakh).Bitcoin’s Volatility Returns After Hitting Highest Since July On the crypto charts, Dogecoin, Cardano, Avalanche, Chainlink, and Litecoin joined BTC and ETH on the profits side on Thursday. Stellar, Cronos, Polygon, EOS Coin, and Underdog managed to retain minor gains on the price chart as well. “Market optimism was fueled by strong participation in Trump-backed WLFI tokens and anticipation of crypto-friendly regulations as the US presidential elections approach. The rising inflows into Bitcoin ETFs, which have seen over $19 billion (roughly Rs. 1,59,626 crore) in net, also contributed to the bullish sentiment. Meanwhile, BlackRock's positive outlook and Standard Chartered's forecast of BTC reaching $73,000 (roughly Rs. 61.3 lakh) have further boosted momentum,” said Mudrex CEO Edul Patel.RBI Governor Seeks Faster Remittance as eRupee Trials Progress The overall valuation of the crypto market rose by 0.74 percent in the last 24 hours. With this, the valuation of the sector has come to $2.32 trillion (roughly Rs. 1,94,90,934 crore), showed CoinMarketCap. Meanwhile Tether, Binance Coin, Solana, USD Coin, and Tron registered losses on Thursday. Shiba Inu, Polkadot, Near Protocol, Leo, Cosmos, and Bitcoin SV also recorded price drops on the crypto chart. .embed-container { position: relative; padding-bottom: 56.25%; height: 0; overflow: hidden; max-width: 100%; } .embed-container iframe, .embed-container object, .embed-container embed { position: absolute; top: 0; left: 0; width: 100%; height: 100%; }

 2024-10-17 08:16:55

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Former President Donald Trump has claimed Nevada, the remaining swing state of six battleground states being monitored by Polymarket, marking the first time since Vice President Kamala Harris became the Democratic presidential nominee and that the Republican frontrunner led Harris in all key states.Data from Polymarket showed that Trump took Nevada late on Wednesday (51% to 49%) and as of early Thursday, he is still ahead of Harris on all swing states tracked by the decentralized market prediction platform.Why the Shift is Crucial for TrumpAmong three swing states that Kamala held on to since becoming the Democratic Party's presidential candidate, Nevada was the last one standing.Notably, the state has gone Democrat in the past four presidential elections, but the narrowing figures suggest things are starting to flip. Trump's lead in Nevada, at least on Polymarket, only cements the notion that the Democratic-leaning state is probably jumping ship. It may also be worth noting that in the 1960s, Nevada was a Republican-leaning state.Nevada has a fairly large population of undocumented immigrants, and the shift toward Trump may be surprising for some, considering the business magnate's stance on immigration.For some political experts, the key to winning Nevada is to identify the independent voting community and woo the said group.Why Nevada May Decide the 2024 ElectionWhile Pennsylvania is called the king of all swing states this year, Nevada is being painted by some analysts as the most "unpredictable" battleground state that could ultimately decide the upcoming elections.This year's candidates are also faced with multiple challenges in getting Nevadans on their side, including but not limited to: Nontraditional working hours – Specifically in Las Vegas, there is a 24-hour workforce that will make it difficult to reach shift workers. Pollsters typically call on voters between 5 p.m. and 9 p.m., which are usual working hours for shift workers. Multilingual state – Some 23% of Nevada's eligible voters don't speak English as their first language, as per Bloomberg data. Polls that ask questions in complete English will ultimately miss the said population. Nevada has a larger Spanish-speaking population. Nonpartisan voters on the rise – There are more nonpartisan voters in the state than voters leaning on the two parties. The independents may turn out to be the ones who decide which party clinches the 2024 elections. The exact number of people using cryptocurrencies in Nevada is unclear. On the other hand, research from last year showed that the state showed the most interest in crypto in 2023. Nevadans scored high when searching for terms, websites, prices, news, apps, and advice related to crypto in the said year.Polymarket allows users to buy and sell crypto to bet on future events. So far, the event contract on the presidential election winner for 2024 is now a $1.9 billion bet.

 2024-10-17 08:03:31

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North Korean hackers have stolen an estimated $3 billion worth of cryptocurrency since 2017, using the funds to support the regime's nuclear and missile programmes, a Microsoft report showed on Thursday.Of that amount, between $600 million and $1 billion was stolen just last year, based on Microsoft's ‘Digital Defence Report for 2024'.The report highlights that these stolen funds have financed over half of Pyongyang's nuclear development efforts, reports Yonhap news agency.Since last year, Microsoft has identified several new North Korean hacking groups -- Moonstone Sleet, Jade Sleet, Sapphire Sleet and Citrine Sleet, which have been targeting cryptocurrency organisations.In particular, Moonstone Sleet has developed a custom ransomware variant and deployed it against unidentified entities in the aerospace and defence sectors for both intelligence gathering and financial gain.(function(v,d,o,ai){ai=d.createElement("script");ai.defer=true;ai.async=true;ai.src=v.location.protocol+o;d.head.appendChild(ai);})(window, document, "//a.vdo.ai/core/v-ndtv/vdo.ai.js");Microsoft analysts said the emergence of new hacking groups suggests that the North Korean regime is expanding its involvement in ransomware activities, increasing the use of cybercriminal tools to bolster the regime's financial resources and advance its strategic interests."Nation-states are becoming more aggressive in the cyber domain, with ever-growing levels of technical sophistication that reflect increased investment in resources and training," said Tom Burt, Microsoft's vice president of customer security and trust.Microsoft also warned of rising cyber threats by state-backed actors, especially those related to Russia, China and Iran, ahead of the U.S. presidential election and amid persistent geopolitical conflicts in Europe and the Middle East.Meanwhile, South Korea, the US and Japan recently agreed to bolster joint efforts to combat North Korea's illegal cyber activities, which are increasingly targeting the virtual currency industry.The three sides stressed the importance of strengthening partnerships with the private sector, particularly with cryptocurrency service providers, to raise awareness of Pyongyang's cyber threats.(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

 2024-10-17 03:54:12

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The Kenya Revenue Authority (KRA) is set to implement a real-time tax system that will integrate with cryptocurrency exchanges and marketplaces, allowing the agency to monitor and record transactions effectively. KRA announced this initiative while outlining its tax collection strategies for the fiscal year 2024/25, highlighting its intention to capture crucial transaction details, including the date, time, type, and value of each transaction. The taxman explained that it has faced challenges in tracking and taxing cryptocurrency transactions due to an outdated system, which has led to significant revenue losses for the government. The tax authority estimates that Kenya’s cryptocurrency market transacted approximately Kes.2.4 trillion between 2021 and 2022, amounting to nearly a fifth of the country’s gross domestic product (GDP). KRA reiterated that the new system will enhance its ability to track and record transactions from cryptocurrency exchanges and marketplaces, ensuring compliance with Section 3 of Kenya’s Income Tax Act, which allows taxation on earnings from crypto transactions. “Although the sector remains unregulated by reporting authorities like the Central Bank of Kenya and the Capital Markets Authority, earnings from this sector are legally taxable,” the tax authority stated. The agency noted that the lack of a robust system for collecting taxes on cryptocurrency transactions has contributed to substantial revenue losses. “Our goal is to establish a robust and efficient system that will enable KRA to collect taxes on cryptocurrency transactions effectively,” KRA affirmed. Additionally, a new bill introduced in Parliament last year seeks to impose taxation on cryptocurrency transactions and digital wallets. The Capital Markets (Amendment) Bill, 2023, proposed by Mosop MP Abraham Kirwa, aims to amend the Capital Markets Act, Cap. 485A, to include digital currency in the definition of securities. If passed, this amendment would empower KRA to levy capital gains tax on exchanges and excise duty on transactions. The National Assembly Finance Committee has already approved the bill, which is currently under review in Parliament.

 2024-10-17 03:45:59

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 2024-10-17 03:42:00

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 2024-10-17 03:42:00

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According to filings released by the US Federal Election Commission on Tuesday night, Elon Musk, founder of SpaceX and owner of X, is now one of the biggest donors to Donald Trump’s campaign. Since publicly endorsing Trump on the heels of the July assassination attempt against him in Butler, Pennsylvania, Musk has donated close to $75 million to the his own political action committee, America PAC, which is aggressively campaigning on the ground in swing states for the Trump campaign. Musk has been one of many Silicon Valley elites who have expressed their support for Trump. Peter Thiel, billionaire and cofounder of Palantir, has been a longtime Trump supporter (though he said he would not be donating to candidates in 2024), and venture capitalist David Sacks, who is also a friend of Musk’s, has also thrown his support to the Republicans. Trump has also received support from PACs and individuals in the crypto space. But Musk has put more money into the Trump campaign than nearly any other individual from the tech industry. In addition to his support for the America PAC, he also donated more than $289,000 to the National Republican Congressional Committee. While some companies and institutions in Silicon Valley, like venture firm Andreessen Horowitz, have backed Trump, individual donors from those same companies may not. For instance, Marc Andreessen and his business partner Ben Horowitz each donated $2.5 million to the pro-Trump Right for America PAC last quarter. Andreessen has also donated to the Democratic Congressional Campaign Committee; Horowitz has backed Democratic campaigns as well, and in early October said he would support Harris rather than Trump going forward. The graphic below focuses specifically on donations that help Trump directly, rather than GOP giving more broadly. You can see a breakdown of how much each person gave—and where the money went—by scrolling over or tapping each name. Sacks donated only $6,600 to Trump’s campaign directly, but $114,500 to the Republican National Committee and $250,000 to the Trump 47 PAC. Tyler and Cameron Winklevoss, who run the crypto exchange Gemini, each donated more than $350,000 to the Make America Great Again PAC, which supports the Trump campaign. The twins also donated $250,000 each to the America PAC. Shaun Maguire, a partner at the venture firm Sequoia Capital, has donated $500,000 to the America PAC, $300,000 to the Trump 47 PAC, and $6,600 to the Trump campaign directly. Billionaire and early Tesla backer Antonio Gracias donated $1 million to the America PAC, as did Palantir cofounder and venture capitalist Joe Lonsdale. Kenneth Howery, a PayPal Mafia member and former ambassador to Sweden under Trump, put $1 million into America PAC in addition to smaller direct contributions to the Trump campaign. Musk has contributed more to the Trump campaign than all of them combined, several times over. That puts him in a league with Trump’s most lavish donors, including Miriam Adelson, the widow of Sheldon Adelson, who donated $95 million to the pro-Trump Preserve America PAC over the past three months—including $45 million in September alone. Billionaire Timothy Mellon, heir to the Mellon railroad fortune, remains the campaign’s largest donor, having put at least $115 million in the Make America Great Again PAC just this year. Musk’s largesse, combined with his vocal support of Trump on the platform he controls, has been a windfall for Trump in an increasingly close presidential race. He’ll continue trying to get out the vote in person this weekend with a series of appearances in Pennsylvania.

 2024-10-17 01:17:10

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Crypto usage hits new highs – and shows no signs of slowing down. That’s according to a recent report by venture capital firm Andreessen Horowitz, which found record crypto usage amid a maturing business and tech infrastructure. In its annual “State of Crypto,” released on Wednesday, the report puts the number of cryptocurrency owners worldwide at a new high of 617 million this year, with an estimated 30 and 60 million active users. It also reveals a significant rise in blockchain activity, with 220 million unique crypto addresses engaging with the technology at least once in September. This marks a threefold increase compared to the figures from late 2023, highlighting the growing adoption and integration of cryptocurrencies across various platforms and services. This growth follows a prolonged “crypto winter,” exacerbated by the collapse of FTX, the exchange led by the now-disgraced CEO Sam Bankman-Fried. However, the situation has dramatically changed. Bitcoin, which was trading at $28,000 a year ago, has now surged to $68,000, representing a remarkable growth of over 142%. This rebound signals renewed investor confidence and a resurgence of interest in the crypto market. Stablecoins drives mass crypto adoption According to the report, a significant factor fueling this growth has been the widespread adoption of stablecoins—digital tokens that are linked to the value of traditional currencies, such as the U.S. dollar. Stablecoins offer a level of stability not typically seen in other cryptocurrencies, making them more appealing for everyday transactions and as a store of value. This reliability has driven increased usage across various sectors, from remittances and e-commerce to decentralized finance (DeFi) platforms, further boosting overall activity in the crypto ecosystem. The report revealed that stablecoins have become more popular due to cost reductions in executing crypto transactions, with fees dropping more than 90 percent from $12 to $1 for USDC, a popular U.S. dollar-pegged stablecoin on Ethereum. On Base (COIN), cryptocurrency exchange platform Coinbase’s popular network to send and receive cryptocurrencies, it costs less than a cent on average to send USDC. AI is gaining popularity among crypto users The report revealed a significant overlap between ChatGPT visitors and users of top crypto websites, indicating strong connections between crypto and artificial intelligence (AI) users. About a third of crypto projects say they are using AI, the highest adoption rate among all technologies tracked by Andreessen Horowitz. However, the study warns that AI could lead to increased centralization of power on the internet, as only the largest tech companies may have the resources to leverage advanced AI models. On a more optimistic note, the report suggests that crypto projects, already addressing centralization issues, could leverage blockchain technology to mitigate AI-related centralization risks. This approach could potentially foster a more equitable distribution of technological power in the AI field. “AI’s centralization-related challenges are almost exactly the inverse of the opportunities for decentralization presented by blockchain networks,” according to the report.

 2024-10-16 21:40:00

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