Bitcoin Industry

2023-02-28 17:00:10 Alium Finance DEX is at the forefront of the decentralized exchange (DEX) revolution, offering increased security and autonomy compared to traditional CEXes

The Alium team often runs various contests and events for users, including:

Alium Trading Challenge - a recent contest that showed high activity among users. As a result, it was decided to hold the trading challenge on a weekly basis starting from March. The most active participants will be rewarded every week.

Early Adopters Retro-Drop - the airdrop consists of 2 phases, in the first phase of which the early users received the airdrop in the form of $ALM tokens. The second phase of the airdrop will start soon, in which each user can receive an airdrop based on the number of trades in Alium Finance Multichain DEX.

Visit Alium Finance at: Website | Telegram Open / Comment

2023-02-27 21:00:04 ​XRP Price Prediction as $600

As XRP records a $600 million trading volume, investors are wondering if the cryptocurrency can reach $10 in 2023. This XRP price prediction is fueled by recent developments in the XRP ecosystem, as well as a broader surge in the cryptocurrency market.

However, there are also factors that may limit XRP's growth potential.

Crypto investors have been following Ripple's legal battle with the US Securities and Exchange Commission (SEC) for over two years. The SEC filed a complaint against Ripple Labs, the company behind XRP, claiming that the cryptocurrency is a security and that Ripple offered it to investors without legal registration. However, it is becoming increasingly difficult to predict the outcome of the legal case.

On February 23, cryptocurrency advocate and lawyer John Deaton proposed a scenario that could expedite a settlement if needed. Deaton tweeted that he believes Ripple's attorney will strongly advise a settlement if the SEC accepts in writing that all current and future XRP transactions are not securities. Deaton also expressed confidence that Ripple will emerge victorious and that the Supreme Court would not uphold the SEC's overreach. Open / Comment

2023-02-24 21:00:04 ​​SEC is not the appropriate regulator for stablecoins: Circle CEO.

Circle boss Jeremy Allaire maintains that "payment stablecoins" are payment systems, not securities.

The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire.

In an interview with Bloomberg on Feb. 24, the Circle chief executive aired his views on the SEC and its recent moves to clamp down on the crypto industry, including stablecoin issuer Paxos.

Allaire appears to have taken issue with the SEC's focus on stablecoins, arguing that dollar-pegged “payment stablecoins” should be under the oversight of a banking regulator, rather than the SEC.

“I don’t think the SEC is the regulator for stablecoins,” said Allaire, adding:

“There is a reason why everywhere in the world, including the U.S., the government is specifically saying payment stablecoins are a payment system and banking regulator activity.”

Circle confirmed last week that it had not been targeted by the SEC following the issuance of a Wells notice to Binance USD-issuer Paxos.

“There are lots of flavors, as we like to say, not all stablecoins are created equal,” Allaire said, adding, “But, clearly, from a policy perspective, the uniform view around the world is this is a payment system, prudential regulator space.”

The Circle CEO however said that he was generally in favor of a recent SEC proposal on crypto custody that would make it much harder for exchanges to become custodians.

“We think having qualified custodians that can provide the appropriate control structures and bankruptcy protections and the other things is a very important market structure and very valuable.”

Circle is the issuer of the world’s second-largest stablecoin, USD Coin. It has a circulating supply of $42.2 billion which gives it a market share of 31%. Tether remains the dominant stablecoin with a supply of $70.6 billion and a market share of 52%, according to CoinGecko.

On Feb. 23, Allaire agreed with SEC Commissioner Hester Peirce, who said that the agency should refer to Congress. Due to the lack of legislation, some believe the SEC has been taking things into its own hands concerning crypto regulations and enforcement. Open / Comment

2023-02-21 20:00:19 ​​FTX poked the bear and the bear is pissed — O’Leary on the crypto crackdown.

Kevin O’Leary believes U.S. lawmakers are “fatigued” and “pissed” with the cryptocurrency industry after having to deal with one blowup after another.

Shark Tank investor and venture capitalist Kevin O’Leary has urged crypto exchanges to “get on board with regulation” if they want to “stay out of the way” of Gary Gensler and the United States Securities Exchange Commission.

In a Feb. 20 interview with TraderTV Live, O’Leary said that U.S. lawmakers are “fatigued” over crypto collapses and that they’re only going to get more ruthless if companies continue to not comply:

“You got to get on board with regulation, you got to stay out of the way of Gensler at the SEC and other regulators. Those hombres men in Washington are not happy. FTX poked the bear, the bear is awake, and it is pissed.”

“These senators are really fatigued, they’re really tired of gathering every six months when the next crypto company blows up and goes to zero,” he said, adding “because they’re totally unregulated and they keep issuing tokens that are worthless.”

O’Leary said the SEC whacking Kraken for $30 million and ordering them to immediately cease its staking services should put the industry on alert and to comply by all means.

In light of the recent regulatory crackdowns, the Shark Tank investor predicted that regulated trading platforms will be better investments than their unregulated counterparts over the next few years:

”I think the value of regulated exchanges is going to go up over the next few years, while the unregulated ones get put out of business or go to zero by the regulators.”

O’Leary recently confessed to losing basically 100% of the $15 million that FTX paid him to be its official spokesperson. Open / Comment

2023-02-18 20:00:14 ​​YouTube appoints Web3-friendly exec as new CEO.

YouTube’s new CEO Neal Mohan previously emphasized that NFTs could be an important tool for the platform’s content creators to develop additional revenue streams.

Google-owned YouTube has appointed Web3-friendly exec Neal Mohan as its new CEO following the departure of Susan Wojcicki this week.

Wojcicki stepped down from YouTube on Feb. 16 after nine years at the helm, outlining plans to start a “new chapter” focused on family, health and personal projects. During her tenure, she oversaw the pivotal introduction of the revenue-sharing model, among other things.

Moving forward, she will remain an advisor for Google’s parent company, Alphabet.

Before becoming the new CEO, Mohan served as YouTube’s chief product officer and oversaw the controversial removal of the video dislike button, the introduction of YouTube Shorts to compete with TikTok, and YouTube Music.

In terms of Web3, Mohan outlined tentative plans in February 2022 to integrate a host of new features, such as etaverse-based content experiences and content tokenization via nonfungible tokens (NFTs), much to the dismay of the NFT-hating community at the time.

In particular, Mohan emphasized that NFTs could provide a new way for creators to engage with their audiences and develop additional revenue streams. He cited the potential for creators to tokenize their videos, photos, art and experiences as examples.

“Web3 also opens up new opportunities for creators. We believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans. Together, they’ll be able to collaborate on new projects and make money in ways not previously possible,” he wrote in a blog post on Feb. 10, 2022.

Despite being intended to potentially roll out last year, the Web 3-related plans are yet to materialize but could be set for another push in the near future, given that Mohan is now leading the firm.

Following the news of Mohan becoming the new CEO of YouTube, there has been a surprisingly limited amount of FUD from the feisty NFT skeptics on Twitter, who are usually quick to flame anything to do with reports of mainstream connections to the tech. Open / Comment

2023-02-15 20:00:38 ​​South Korea to examine crypto staking services following the Kraken case.

No details on the timeline and methods of the examination were provided, but reportedly it would be conducted moderately as no wrongdoings have been registered in the country.

As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists:

The fears of the crypto community about the possible repercussions of the recent court deal between the United States Securities and Exchange Commission (SEC) and Kraken are starting to materialize. Following their American counterparts, South Korean regulators intend to examine the crypto-staking operators in the country.

“The position is that there is nothing to be a problem because nothing has been done.”

No details on the timeline and methods of the examination were provided, but it could affect some legislative decisions. In contrast to more common operations with digital assets, crypto staking isn’t defined by Korean regulation at the moment.

The global discussion on crypto staking kicked off with a Feb. 9 settlement between the SEC and Kraken crypto exchange. Kraken agreed to pay a $30 million fine and halt its staking program. The move was widely criticized by the American crypto community and even the SEC’s acting commissioner.

In his analysis for Cointelegraph, J.W. Verret, an associate professor at the George Mason Law School, warned about the SEC’s intention to use its Kraken playbook against staking protocols in general:

“It’s becoming clear from a pattern across financial regulators and the White House that the subtext in the administration’s policy toward crypto is that it should be choked off.”

In February, South Korea’s Financial Services Commission established guidance that specifies which types of digital assets will be considered and regulated as securities in the country. The law considers securities as financial investments where investors are not required to make additional payments after their original investment. Open / Comment

2023-02-12 14:00:12 $57 Risk-Free Bets for the Super Bowl With Duelbits

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Bet Now To Win Open / Comment

2023-02-12 13:30:00 ​Bitcoin Price Prediction as $40 Billion Trading Volume Rushes In.

The Bitcoin price prediction continues to remain unchanged, despite the fact that the world's largest digital asset by market capitalization has been in the news lately due to the recent surge in its trading volume. With a trading volume of over $40 billion in the past few days, the market is buzzing with activity, and many investors are wondering what this could mean for the future of Bitcoin.

In this update, we will explore the impact of this surge in trading volume on the price of Bitcoin and analyze the role played by whales in the current market scenario.

Despite concerns among some crypto traders about potential regulatory shocks in the near future, a group of high-profile investors remains unfazed. Following the temporary suspension of US Dollar deposits and withdrawals by Binance, a crisis scenario could arise if no US banks step up to offer support.

While there may be more clarity on the situation next week, the recent $30 million settlement between Kraken and the US Securities and Exchange Commission (SEC) resulted in a sudden drop in market prices.
Following the settlement, Coinbase CEO Brian Armstrong issued a warning that the SEC could potentially ban crypto staking altogether. Against this backdrop, recent remarks from SEC chair Gary Gensler suggest that crypto companies will be required to provide full disclosures, further supporting the possibility of such actions being taken in the future. Open / Comment

2023-01-14 17:00:06 Become a part of our Coingape Telegram channel for:

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2023-01-13 20:00:12 ​​PayPal Xoom adds cross-border remittance on debit card deposit.

PayPal’s cross-border remittance service, Xoom, partnered with Visa Direct to allow debit card holders to receive funds within minutes.

Financial technology firm PayPal’s international money transfer service, Xoom, has announced a new product that lets users in the United States send money directly to Visa debit card users.

In a recent announcement, PayPal mentioned that Xoom partnered with financial services firm Visa, allowing debit card holders to receive funds directly from Xoom. The feature is available in 25 countries, including the Philippines, Sri Lanka, Thailand, Ukraine and Vietnam.

With the newly-launched function, users can access the funds within minutes, eliminating the need to wait for five business days, which is the average waiting time for wire transfers.

Wei-Lin Lee, PayPal’s vice president of remittances, said that the new service could help people during winter and holidays. Lee explained that many customers were sending money globally to their friends and family during those times and that this needed to be done quickly. The executive believes that the newly-expanded service will help users across the globe.

Visa Direct North America head, Yanilsa Gonzalez-Ore, recognized an increased demand for “digital solutions that help remove barriers” for people looking to send money globally. The executive believes that the new solution will be helpful in this regard.

Meanwhile, PayPal has been increasingly covering all fronts regarding financial transactions. Besides enhancing product offerings in cross-border transactions, the company has also embraced cryptocurrency. In 2021, the financial services firm enabled crypto trading for customers in the United Kingdom. In 2022, the company started allowing native transfers of digital assets from PayPal to external wallets and exchanges.

Within the crypto sphere, cross-border payments for businesses are sometimes associated with Ripple, the firm behind the XRP token, which is embroiled in an ongoing legal battle. Open / Comment