"This may increase the risk of customers becoming involved in money laundering or terrorist financing," said De Nederlandsche Bank.
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Access real-time blockchain and cryptocurrency news updates from around the globe.
Aztec Network secures $100 million in Series B funding led by a16z
With the funds, Aztec Network plans to hire more engineers and build a new encrypted blockchain.
'Big Time' and other Web3 games take home the gold at the inaugural GAM3 awards
The 16 prize winners will share over $1M worth of prizes sponsored by companies such as Immutable X, Blockchain Game Alliance, Machinations, and many more.
Jewel Bank, Polygon to launch Bermuda's first USD-backed stablecoin
Institutions in Bermuda will soon be able to trade real-time settlements using a stablecoin with a 1:1 ratio with the United States dollar, Jewel Bank's founder and chairman Chance Barnett told Cointelegraph.
Called Jewel USD (JUSD), the first stablecoin to be released in the territory is powered by the Polygon blockchain, enabling transactions between wallets available to institutional clients. In the future, the bank plans to use the Polygon ecosystem for commercial and retail stablecoin-based payment solutions, including transactions between institutions, businesses, and payments between individuals.
"The need for a USD real time settlement network outside of the US is significant for both fintechs and digital asset firms, so we’re filling a large gap in the market. The US has solutions like Signature Signet for real time settlement, and now Jewel Bank is providing a Bermuda-based non-US solution for the industry, and the response by clients in signing up prior to launch has been significant.", noted Barnett.
On the Polygon blockchain, 25 stablecoins are currently traded, including a synthetic Euro token, a Yen-pegged Japanese stablecoin, and a South African stablecoin pegged 1:1 with the South African Rand (ZAR).
Related: 13% of Americans have now held crypto: JPMorgan research
Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data
As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend.
The market enters a state of limbo
The FTX implosion impacted over 5 million users globally and adversely affected numerous crypto companies that were exposed to it. The industry is currently in a recovery mode and Cumberland, a U.S.-based crypto market broker, recently echoed this narrative in a tweet. The firm noted that "dozens of crypto companies are either severely curtailed or out of business, and the industry's future is as cloudy as ever."
Data suggests that building a sustainable bullish move will be challenging because the market is pushed back to a low liquidity and volatility regime.
Crypto analytics firm, Glassnode, reported “depressing” futures volumes for Bitcoin and Ethereum, tracing back to pre-2021 levels when Bitcoin’s price surpassed $20,000 for the first time.
Bitcoin (orange) and Ethereum (blue) futures trading volume. Source: GlassnodeThe open interest volume of Bitcoin and Ethereum futures has dropped significantly toward mid-2022 levels, which was after the collapse of Luna-UST. The BTC and ETH leverage ratio indicator, which measures the ratio between open interest volume, is currently down to 2.5% and 3.1%.
Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data
Data suggests that BTC’s rally to $18,300 is the only Santa Claus rally Bitcoin will see before the year ends.
Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data
As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend.
The market enters a state of limbo
The FTX implosion impacted over 5 million users globally and adversely affected numerous crypto companies that were exposed to it. The industry is currently in a recovery mode and Cumberland, a U.S.-based crypto market broker, recently echoed this narrative in a tweet. The firm noted that "dozens of crypto companies are either severely curtailed or out of business, and the industry's future is as cloudy as ever."
Data suggests that building a sustainable bullish move will be challenging because the market is pushed back to a low liquidity and volatility regime.
Crypto analytics firm, Glassnode, reported “depressing” futures volumes for Bitcoin and Ethereum, tracing back to pre-2021 levels when Bitcoin’s price surpassed $20,000 for the first time.
Bitcoin (orange) and Ethereum (blue) futures trading volume. Source: GlassnodeThe open interest volume of Bitcoin and Ethereum futures has dropped significantly toward mid-2022 levels, which was after the collapse of Luna-UST. The BTC and ETH leverage ratio indicator, which measures the ratio between open interest volume, is currently down to 2.5% and 3.1%.
New York State issues guidance for banks seeking to engage in activities with crypto
The state, a notoriously demanding regulator of the industry, has released detailed guidelines for banks’ applications; some licensed banks may have to play catchup.
Amber Group acquires cryptocurrency platform Sparrow exchange: report
The news comes after Amber Group reportedly pulled back expansion plans due to financial exposure in the FTX collapse.
US Trustee names Wintermute on creditor committee in FTX bankruptcy case
The committee would play a role in representing creditors who lost funds or were otherwise affected by the downfall of FTX, reported to be one million people.
How hard has this bear market been for Bitcoin mining? Watch Market Talks on Cointelegraph
Join us as we discuss the current state of the crypto market, particularly in terms of the current bear market and Bitcoin mining. Hosting the show will be Ray Salmond, head of markets at Cointelegraph, and our special guest this week is Drew Vosk.
Ethics 101: Should crypto projects ever negotiate with hackers?
“A highly profitable trading strategy” was how hacker Avraham Eisenberg described his involvement in the Mango Markets exploit that occurred on Oct. 11.
By manipulating the price of the decentralized finance protocol’s underlying collateral, MNGO, Eisenberg and his team took out infinite loans that drained $117 million from the Mango Markets Treasury.
Desperate for the return of funds, developers and users alike voted for a proposal that would allow Eisenberg and co. to keep $47 million of the $117 million exploited in the attack. Astonishingly, Eisenberg was able to vote for his own proposal with all his exploited tokens.
This is something of a legal gray area, as code is law, and if you can work within the smart contract’s rules, there’s an argument saying it’s perfectly legal. Although “hack” and “exploit” are often used interchangeably, no actual hacking occurred. Eisenberg tweeted he was operating within the law:
“I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.”
Ethics 101: Should crypto projects ever negotiate with hackers?
“A highly profitable trading strategy” was how hacker Avraham Eisenberg described his involvement in the Mango Markets exploit that occurred on Oct. 11.
By manipulating the price of the decentralized finance protocol’s underlying collateral, MNGO, Eisenberg and his team took out infinite loans that drained $117 million from the Mango Markets Treasury.
Desperate for the return of funds, developers and users alike voted for a proposal that would allow Eisenberg and co. to keep $47 million of the $117 million exploited in the attack. Astonishingly, Eisenberg was able to vote for his own proposal with all his exploited tokens.
This is something of a legal gray area, as code is law, and if you can work within the smart contract’s rules, there’s an argument saying it’s perfectly legal. Although “hack” and “exploit” are often used interchangeably, no actual hacking occurred. Eisenberg tweeted he was operating within the law:
“I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.”
Ethics 101: Should crypto projects ever negotiate with hackers?
“A highly profitable trading strategy” was how hacker Avraham Eisenberg described his involvement in the Mango Markets exploit that occurred on Oct. 11.
By manipulating the price of the decentralized finance protocol’s underlying collateral, MNGO, Eisenberg and his team took out infinite loans that drained $117 million from the Mango Markets Treasury.
Desperate for the return of funds, developers and users alike voted for a proposal that would allow Eisenberg and co. to keep $47 million of the $117 million exploited in the attack. Astonishingly, Eisenberg was able to vote for his own proposal with all his exploited tokens.
This is something of a legal gray area, as code is law, and if you can work within the smart contract’s rules, there’s an argument saying it’s perfectly legal. Although “hack” and “exploit” are often used interchangeably, no actual hacking occurred. Eisenberg tweeted he was operating within the law:
“I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.”
Mysterious initial deposit allegations surface after Binance token delisting announcement
Users initially panned Mithril's return of deposit allegation until an original Binance listing document came to light that raised further questions.
BTC price levels to watch as Bitcoin dives below $17.5K post-FOMC
Bitcoin is rapidly taking out near-term support levels as an FOMC comedown sees BTC price grab liquidity.