Crypto Futures Trading

2023-04-02 06:48:02 ZeroSync and Blockstream to Broadcast Bitcoin Zero-Knowledge Proofs From Space

Swiss non-profit ZeroSync Association and Bitcoin infrastructure firm Blockstream say they plan to broadcast Bitcoin zero-knowledge proofs – a type of cryptography that’s become one of 2023 hottest blockchain-tech trends – from Blockstream’s satellite. Using zk-proofs to validate the Bitcoin blockchain means nodes don’t have to download the chain’s current 500GB of data and can therefore sync in fractions of a second instead of hours or days.

Blockstream’s satellite network provides free global access to Bitcoin by broadcasting the blockchain to the entire planet, including areas with unreliable Internet coverage. ZeroSync expects the first experimental broadcast to take place by the end of the year. The newly-formed ZeroSync Association was launched on Tuesday and plans to help scale Bitcoin by using zero-knowledge proofs (zk-proofs), a cryptographic technique to prove the validity of information without revealing the information itself. “The security of Bitcoin requires every participant to verify every transaction,” ZeroSync co-founder Robin Linus told CoinDesk.

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2023-04-01 07:26:02 Belarus Extends The Tax Exemption For Cryptocurrency Enterprises Until 2025

Belarus has stated that it would continue to provide crypto firms with a tax exemption until the year 2025. The tax exemption for miners and token creators in Belarus has been extended until 2025, allowing the country to continue to attract cryptocurrency enterprises. A directive exempting miners and operators of cryptocurrency businesses from paying value-added tax, income tax, and income tax was reportedly signed by Belarusian President Aleksandr Lukashenko this week.

Previously, the law of this nation stated that crypto firms and the people working for them are exempt from paying taxes until the year 2023 has passed. The Belarusian government began providing assistance to crypto enterprises for the first time in 2017, the year in which they initially began providing assistance to crypto companies. developed an exclusive neighborhood in Minsk known as the Hi-Tech Park. The extension of the tax exemption for cryptocurrency enterprises until 2025 is a positive development for both the cryptocurrency industry and the Belarusian economy. It demonstrates the government’s commitment to supporting and promoting the industry.

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2023-03-31 11:09:02 CoinDesk’s Misleading Information On Blockchain Performance Exposed

Recently, there has been a debate on the accuracy of information regarding blockchain performance in the media. The discussion was sparked by a recent article published by CoinDesk, which claimed that the transaction speed of Polygon is faster and the network fee is cheaper than that of Solana. Some argued that Solana is 40 times cheaper with compression and 10-100 times faster than Polygon.

Following this mistake, CoinDesk updated its article by stating that chains are relatively equal in both factors. This statement was quickly criticized by OxMert_, who argued that Solana has about 40 times cheaper fees (and actually 5000 times with compression) and about 10-100 times faster transactions. Added to this, an account known as Richard Patel claimed that CoinDesk’s information on blockchain performance is inaccurate, citing that transaction times on Polygon are 5 times higher than on Solana (~2200ms vs. 400ms). Fees are roughly 35 times more expensive. As the data showed on Polygon Website, it takes about $0.015 cost per transaction, while Solana takes about $0.00025 per transaction.

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2023-03-30 06:46:02 MetaMask Warns Users About Fake Airdrops On March 31

MetaMask refuted the rumor that it would perform a snapshot for airdrop users on March 31, which has been making the rounds on social media. Metamask said that no information on the timing of the Airdrop/Snapshot or other associated activity has been disclosed. The community should exercise caution with current information that has been extensively disseminated.

The majority of the material given about Airdrop is bogus information used by crooks for evil reasons or scams. On the evening of March 26, the Telegram group “eezzy’s diary” published an article on the disclosed inside knowledge. As a result, Metamask has stated that the “snapshot” list for an airdrop will be closed on March 31, and the company plans to launch the MASK token in Q1 of 2024. This information was shared by an investor using the Twitter handle “serp1337.eth,” and it soon spread to over 768,000 individuals, attracting the attention of the financial community. Afterward, he revealed that they planned to introduce a token.

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2023-03-29 08:10:05 OKX Applied For Virtual Asset Licenses To Launch Its Hong Kong Entity

OKX, the world’s second-largest crypto exchange by trading volume, announced the formation of a Hong Kong corporation for the purpose of establishing virtual asset services in Hong Kong and the intention to apply for a virtual asset service provider (VASP) license. OKX has spent more than a year preparing to meet expected regulatory requirements in terms.

The VASP license is issued under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance 2022, which goes into force on 1 June 2023, while the Type 1 and 7 licenses are issued under the Securities and Futures Ordinance. OKX has lately extended not just to Asian markets but also to other prospective markets. Earlier, the exchange introduced Turkish Lira (TRY) deposits and withdrawals for Android, iOS, and the web, simplifying trading for Turkish users. The new report, which is accessible on its website, provides on-chain and off-chain asset balances, as well as a comprehensive list of wallet addresses. The sixth monthly Proof of Reserves report shows the exchange holding $8.9 billion in Bitcoin.

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2023-03-28 07:37:02 Bitcoin To Make Explosive Impact On Africa’s Banking System

Bitcoin is increasingly recognized as a transformative alternative to Africa’s financial system. It has the potential to bring financial power to people who would otherwise have none, as per CNBC. In countries where most people don’t have bank accounts, national currencies are no longer reliable for storing value. Remittances, which make up a large part of GDP, are crucial for survival. Moving money on the bitcoin blockchain at its base layer.

Bitcoin’s Lightning Network helps alleviate the challenges of moving money on the bitcoin blockchain at its base layer. It slashes the cost of transactions to virtually zero and enables nearly instantaneous payments around the world. This technology has the potential to reduce the cost of transactions and enable people to send digital payments directly to one another without relying on credit and without incurring multiple settlement fees along the way. In Africa, companies like Western Union and MoneyGram have an extensive physical network of storefronts catering to unbanked people.

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2023-03-27 07:08:02 Stablecoin Market Sees Fluctuations With Some Coins Gaining and Others Reducing Supply

According to statistics, on March 26, the stablecoin economy was valued at $135 billion, with the top stablecoins representing $31.8 billion or 75% of the $42.17 billion in 24-hour global trade volume across the entire crypto market. In the last two weeks since March 11, 7.06 billion USDC and 351.57 million BUSD have been redeemed. Meanwhile, from March 14 to March 26.

In recent weeks, the supplies of some stablecoins have decreased while others have increased. Today’s top ten stablecoins include USDT, USDC, BUSD, DAI, TUSD, FRAX, USDP, USDD, GUSD, and LUSD. According to statistics for the last month, USDC, BUSD, and GUSD experienced double-digit reductions in supply. The other top ten stablecoin assets recorded supply increases, with TUSD’s supply doubling or rising 112.3% higher than it was 30 days ago. Among other stablecoin assets, liquity usd (LUSD) rose 16.2% and tether (USDT) increased by 12.7% over the last month. LUSD now has a market valuation of around $267.70 million.

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2023-03-26 09:27:02 OKX Has Finished Burning $180 Million In OKB

The OKX exchange published the results of the 19th repurchase and burn program, which destroyed millions of OKBs. Colin Wu, a Chinese crypto journalist and blogger, revealed that OKX has sold a large portion of their OKB tokens this year as part of its 19th buyback and burn initiative. Whale Alert found a big quantity of OKB moved from OKX to an anonymous wallet, resulting in the loss of $177,000,000 OKB.

According to a blog post, the 19th cycle of the aforementioned program began in December of last year and will conclude on February 28, 2023. During that period, the OKB team purchased 5,183,976.43 OKB from the secondary market and delivered them to dead wallets, totaling about $177,000,000. According to the article, OKX spent 30% of the spot transaction charge when it purchased back OKB. On March 23, the Whale Alert program spotted 26 OKB transactions. Each transaction moved 180,000 tokens, for a total of 4,680,000 OKB. the OKB price jumped to an all-time high of $52.31.

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2023-03-25 09:45:05 Mysten Labs Acquires FTX’s Equity Investment And Securing Tokens For $96M

Mysten Labs reached an agreement with FTX debtors on Wednesday to acquire FTX’s equity investment in Mysten Labs and secure the SUI token for $96.3 million in cash. Mysten Labs, the team behind the Sui blockchain, signed an agreement on Wednesday with bankrupt assets FTX to purchase FTX’s equity investment in Mysten Labs and secure SUI tokens for $96.3 in million cash, according to court records.

FTX filed for bankruptcy a few months after FTX Ventures led Mysten Labs’ $2 billion Series B round last August. FTX invested US$101 million in this funding round, received approximately 570,000 Mysten Labs preferred shares and received warrants to purchase about 890 million SUI tokens. FTX paid around $101 million for the equity investment and an additional $1 million for token warrants. This means that FTX creditors can recover more assets. It also marks the efforts of the new FTX chief executive in helping creditors collect as much as possible. FTX debtors can continue to “seek higher offers from other third parties” until the court sets a date for sale.

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2023-03-24 08:40:02 Hong Kong Regulator Greenlights Victory Securities For Crypto Investments

Shengli Securities, a Hong Kong-based financial services company, has issued a notice to its shareholders and investors that its subsidiary, Victory Securities, has received approval from the Hong Kong Securities and Futures Commission to manage a portfolio in virtual assets. This move is considered significant in view of the rapid development of virtual assets in recent years.

The approval from the Hong Kong Securities and Futures Commission is subject to the “Terms and Conditions” standard for a licensed portfolio management company that invests in virtual assets. Such approval gives Victory Securities the go-ahead to manage a portfolio in virtual assets and to provide asset management services related to virtual assets. The company’s management believes that this development will positively impact the group’s future growth. By providing asset management services related to virtual assets, the company will be able to offer customers more diversified services.

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