Ben Zhou, the founder of Bybit, said that the exchange is putting some focus on educating users who are new to crypto.
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Kraken reiterates hiring targets as CEO denounces 'woke activists' in corporate culture
"We recognize that hurt feelings are inevitable in a global organization that is optimizing for team outcomes above individual sentiment," said the team at Kraken.
Bitcoin bounces 8% from lows amid warning BTC price bottom 'shouldn't be like that'
Hodlers catch their breath as markets digest the prospect of higher Fed rate hikes, but traders refuse to believe that Bitcoin is done dropping.
Bitcoin bounces 8% from lows amid warning BTC price bottom 'shouldn't be like that'
Bitcoin (BTC) spared hodlers the pain of losing $20,000 on June 15 after BTC/USD came dangerously close to last cycle's high.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin "bottom" fools nobody
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD surging higher after reaching $20,079 on Bitstamp.
In a pause from its sell-off, the pair followed United States equities higher on the Wall Street open, hitting $21,700. The S&P 500 gained 1.4% after the opening bell, while the Nasdaq Composite Index managed 1.6%.
The renewed market strength, commentators said, was thanks to the majority already pricing in outsized key rate hikes by the Federal Reserve, due to be confirmed on the day.
Nonetheless, it was crypto taking the worst hit in the inflationary environment, Bloomberg chief commodity strategist Mike McGlone noted. In a tweet, he contrasted Bitcoin and altcoin performance with skyrocketing commodities, notably WTI crude oil, futures of which now traded at almost double their 200-week moving average.
Chainlink integrates with Moonbeam to provide price data to Polkadot developers
Derek Yoo, the founder of Moonbeam, noted that the integration lets their platform provide “building blocks” to DeFi developers.
Chainlink integrates with Moonbeam to provide price data to Polkadot developers
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Decentralized oracle network Chainlink (LINK) has integrated its service called Chainlink Price Feeds to Moonbeam, a smart contract parachain on Polkadot (DOT), to provide data to developers in the platform.
In a release sent to Cointelegraph, Chainlink's team noted that going live on Moonbeam will allow those who build within the platform to access price information that’s compiled and aggregated from many different exchanges. This allows decentralized finance (DeFi) developers to bring price accuracy to their decentralized applications (DApps).
Moonbeam founder Derek Yoo mentioned that access to off-chain asset prices has many uses in DeFi, but resistance to attacks and manipulation in price data is hard to achieve. However, the Moonbeam founder believes that Chainlink is able to solve the issue and can help DeFi developers within their platform. He explained that:
The crypto industry must do more to promote encryption, says Meltem Demirors
Meltem Demirors sat down with Cointelegraph to express why the industry needs to focus on privacy and freedom when it comes to regulations.
The crypto industry must do more to promote encryption, says Meltem Demirors
Meltem Demirors sat down with Cointelegraph to express why the industry needs to focus on privacy and freedom when it comes to regulations.
Russian bank Sber to complete its first digital currency deal
Sber was initially planning to launch its blockchain-enabled digital asset platform and the Sbercoin stablecoin by spring 2021.
DeFi contagion fears and rumors of Celsius and 3AC insolvency could weigh on NEXO price
The price of Nexo (NEXO) continued to fall on June 15 as crypto lending firms continue to be shaken by the falling cryptocurrency market.
Meanwhile, Nexo has denied rumors of exposure to Three Arrows Capital (3AC), a Dubai-based crypto fund facing insolvency risks.
NEXO price suffers on DeFi contagion fears
NEXO, which serves as a security token at a cryptocurrency lending platform of the same name, fell nearly 25% to $0.61 a unit, its lowest price reading since January 2021.
The massive intraday decline came as a part of a broader downside move this week, which stretched NEXO's losses to 40%.
NEXO/USDT weekly price chart. Source: TradingViewAn ongoing contagion in the crypto lending sector contributed to NEXO's underperformance.
DeFi contagion fears and rumors of Celsius and 3AC insolvency could weigh on NEXO price
The price of Nexo (NEXO) continued to fall on June 15 as crypto lending firms continue to be shaken by the falling cryptocurrency market.
Meanwhile, Nexo has denied rumors of exposure to Three Arrows Capital (3AC), a Dubai-based crypto fund facing insolvency risks.
NEXO price suffers on DeFi contagion fears
NEXO, which serves as a security token at a cryptocurrency lending platform of the same name, fell nearly 25% to $0.61 a unit, its lowest price reading since January 2021.
The massive intraday decline came as a part of a broader downside move this week, which stretched NEXO's losses to 40%.
NEXO/USDT weekly price chart. Source: TradingViewAn ongoing contagion in the crypto lending sector contributed to NEXO's underperformance.
Bill to ban digital assets as payment passed the first reading in the Russian parliament
The document bears several conceptual contradictions, trying to qualify security tokens as a monetary surrogate.
Bitcoin and Lightning Network can save DeFi from adversity — MicroStrategy CEO
Bitcoin provides a “sound ethical, economic, and technical foundation for DeFi,” said Michael Saylor.
Celsius reportedly seeks advice from lawyers on restructuring
Celsius reportedly onboarded attorneys to find different solutions to the current financial challenges that the company is facing.
Celsius reportedly seeks advice from lawyers on restructuring
Celsius reportedly onboarded attorneys to find different solutions to the current financial challenges that the company is facing.
Celsius reportedly seeks advice from lawyers on restructuring
Crypto lending platform Celsius Network has onboarded restructuring lawyers from Akin Gump Strauss Hauer & Feld to find potential solutions to the firm’s financial woes.
The firm is reportedly looking for other strategic alternatives, such as a financial restructuring, apart from its attempts to solve its current problems. The report also noted that Celsius is trying to find investors who would be able to provide financing options for the crypto lending company.
Citing extreme market conditions, Celsius paused withdrawals from its platform on Monday. Amid the withdrawal freeze, the firm has unstaked around $247 million in wrapped Bitcoin (wBTC) from liquidity protocol Aave and sent it to the FTX exchange. Apart from its wBTC, the firm has also sent $74.5 million in Ether (ETH) to FTX.
As rumors of Celsius’ insolvency proliferate, crypto exchange Nexo extended its hands to the lending platform. The crypto firm recently told Cointelegraph that the Nexo, along with its partners and affiliates, is able to acquire a part or all of Celsius’ outstanding “collateralized loan receivables.”
Related: Celsius (CEL) price gains 600%+, but analysts cite exchange error and a massive short squeeze
Coinbase NFT marketplace: How to buy NFTs on Coinbase?
Connect your crypto wallet to the Coinbase marketplace, and have ETH in your wallet to bid, buy and sell NFTs on Coinbase.
Bitcoin is the ‘Amazon of crypto’ and everything else are bets, says Blocktower founder
Paul highlighted that Bitcoin has “far better odds” than other cryptocurrencies because it doesn’t have a competitor as a product.
Tether aims to decrease commercial paper backing of USDT to zero
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The major stablecoin company Tether is looking to eventually get rid of commercial paper backing for its United States dollar-based stablecoin Tether (USDT).
Tether issued an official statement on Wednesday to deny reports alleging that Tether’s commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and is being traded at a 30% discount.
The stablecoin firm called such allegations “completely false,” reiterating that more than 47% of total USDT reserves are now the “United States Treasuries.” In its latest assurance opinion issued in May, Tether reported that commercial paper makes up less than 25% of USDT’s backing, amounting to around $21 billion as of March 31.
Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K
Bitcoin mining profitability has dropped by over 75% from the market top and is currently at its lowest since October 2020.