Cryptocurrency Expertise

2022-05-14 10:26:31 Ripple is still insisting that the SEC should be compelled to surrender the documents.

Popular blockchain company Ripple has filed its much-anticipated response to the Securities and Exchange Commission’s April 29, 2022 assertion that William Hinman’s 2018 speech is protected by the attorney-client privilege.
Ripple, which had a deadline to file its response to the SEC’s recent claim on April 13, 2022, made sure it exhausted every minute preparing what it termed the perfect reply to the Securities and Exchange Commission’s recent move to protect the Hinman’s documents from being tendered as evidence that XRP is not a security.
Ripple Builds Its Argument
Defendants noted that the SEC had constantly fought to protect Hinman’s documents for several reasons, including on the basis of Deliberative Process Privilege (DPP).
Despite the court’s rejection, the SEC still sought a new reason to shield the agency from surrendering Hinman’s documents to Ripple.

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2022-05-14 10:24:59 Veteran investor Mark Mobius, the founder of Mobius Capital, has cautioned cryptocurrency traders against using the “buy the dip strategy.” He expects the price of bitcoin to plunge further with some temporary relief happening at $20K.

Mark Mobius’ Warning and His Bitcoin Price Prediction

The founder of Mobius Capital Partners, Mark Mobius, warned crypto traders about buying the dip in an interview with Financial News Friday. He also shared his price prediction and future outlook for bitcoin.
Prior to starting his own company, Mobius was executive chairman of Templeton Emerging Markets Group. He joined Templeton in 1987 where he managed more than $50 billion in emerging markets portfolios.
While acknowledging that some crypto traders have previously been successful using the “buy the dip strategy,” he stressed that it is not a strategy that would pay off while the market still has some way to fall.
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2022-05-13 07:12:12 Is SafeMoon A Billion Dollar Fraud? Coffeezilla Thinks So – Pt.1: Rug Pull

The Internet’s detective, Coffeezilla, faces his most unbelievable adversary yet. SafeMoon’s story is so ridiculous that it defies all logic. In his “I Uncovered A Billion-Dollar Fraud” video, Coffeezilla and a group of researchers do their best to figure out exactly what happened in this curious case. Is SafeMoon a rug pull or is it a misunderstood project? Let’s check out the evidence that the detective collected for us.

Not to brag, but Bitcoinist feared all of this from the beginning. In the video above, you know everyone involved is in trouble as soon as you hear Jonh Karoni, SafeMoon’s CEO. He describes the project as, “it’s more about building the future and building a safe future and bringing it now.” What did he say there? Nothing, that´s what. And, according to Coffeezilla, that’s what SafeMoon is.

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2022-05-13 07:07:48 BTC price is in a freefall and data suggests bears plan to keep the price below $30,000 until the May 13 options expiry.

MARKET ANALYSIS

Investors were surprised by Bitcoin (BTC) price falling to $25,500 on May 12, and this shock extended to options traders. The strong correction was not restricted to cryptocurrencies and some large-cap stocks faced 25% or heavier weekly losses in the same period.
Growing economic uncertainty impacted S&P 500 index members like Illumina (ILMN), which declined by 27% over the past seven days and Caesars Entertainment (CZR) faced a 25% drop. Shopify (SHOP), one of the largest Canadian e-commerce companies also saw its stock plunge by 28%.
Traders are scratching their heads and asking whether it’s the U.S. Federal Reserve tightening to blame for the volatility. The monetary authority has been increasing the interest rates and has also reaffirmed their plans to sell bonds and debt-related instruments.

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2022-05-13 06:59:46 Terra Blockchain Halts in Order to Prevent Governance Attacks, Team Says Restart Coming Soon

At the time of writing, the Terra blockchain has stopped block production since the mid-afternoon Eastern Standard. The team’s Twitter account addressed the public by saying: “The Terra blockchain was officially halted at a block height of 7603700. Terra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.”
On May 12, 2022, Terra’s native token LUNA dropped to an all-time low of $0.00825774 per unit. The once-stable coin terrausd (UST) has been quite volatile and has seen a 24-hour price range between $0.842598 to $0.315279 per coin. UST which was once a top ten coin, is now ranked 25, while LUNA was also a top ten coin and is now ranked 112 among 13,419 cryptocurrencies.
Following the update, the Terra team explained a patch was in the works to reboot the network.
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2022-05-13 06:52:42 Electric Coin Company and Zcash Prepare for Network Upgrade

The second-largest privacy-centric crypto network, in terms of market capitalization, Zcash, will see a significant upgrade take place on or around May 31. Electric Coin Company and Zcash developers released the binaries for the Zcash 5.0.0 codebase, and the binaries are now available via the Zcash download web portal. Developers are asking all Zcash participants who run the codebase software to upgrade to the latest release or any subsequent release.
According to the Electric Coin Company’s (ECC) most recent blog post, NU5 plans to implement the Orchard shielded payment protocol and the Halo proving system. The firm says that it will “remove reliance on complex setup ceremonies.” “The efficiencies built into this upgrade make possible — for the first time ever — private, trustless digital cash payments on mobile phones,” ECC’s blog post notes.

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2022-05-13 06:48:43 Onecoin ‘Crypto Queen’ Ruja Ignatova Listed Among Europe’s Most Wanted

Ruja Ignatova, mastermind of the notorious pyramid Onecoin, is now one of Europe’s most wanted fugitives. Also known as the “Crypto Queen,” she disappeared almost five years ago, after the Ponzi scheme she led collected billions of dollars from defrauded investors around the world.

Europol Seeks Information on Onecoin Inventor’s Whereabouts

The European Union Agency for Law Enforcement Cooperation, Europol, is now offering a reward of up to €5,000 ($5,200) for any information that could lead to the arrest of Ruja Ignatova, suspected of masterminding one of the largest scams in crypto history, Onecoin.
The announcement describes Ignatova, a doctor of law, as the “driving force and intellectual inventor of the alleged cryptocurrency Onecoin.” She is suspected of inducing investors all over the world to put money into “this actually worthless ‘currency’,” Europol notes.

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2022-05-12 08:39:41 As LUNA continues its free fall, cryptocurrency users have expressed concerns about the massive dip’s ripple effect on the entire market. 

As a result of the ongoing and doubtful decline, binance today decides to halt the futures trading of terra (luna). Binance futures will delist coin-margined luna perpetual contracts and update the leverage & margin tiers for usdt-margined luna perpetual contracts.
Binance Futures will conduct automatic settlements on the Coin-Margined LUNA Perpetual Contracts and delist the contracts on 2022-05-12 at 08:00 (UTC).
Binance Futures will update the leverage and margin tiers of the USDT-Margined LUNA Perpetual Contracts on 2022-05-12 with the new leverage and margin tiers. The max leverage of USDT-Margined LUNA Perpetual Contracts has been reduced to 8x.
The decision comes As LUNA, which had a market capitalization of over $40 billion a month ago, has recorded a significant loss of nearly $39 billion market cap in hours. The current market cap falls to $939M.
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2022-05-11 06:31:10 dYdX releases an app: Why haven't more DeFi protocols followed suit?

Perpetual contract trading platform dYdX has launched an app for users outside of the U.S. that will offer the same functionality as its website.


Crypto derivatives trading platform dYdX has officially launched an app via Apple’s iOS store, joining just a select number of fellow decentralized finance (DeFi) protocols that have built apps for smartphone adoption.
According to a May 10 announcement, dYdX’s app is now ready for use, with the project noting that more than 200,000 people had already signed up for the beta before the full launch.
The app offers gas-free deposits and trading, and will provide the same functionality as the web version.
“The app offers the same functionality and unparalleled product that are available on our main exchange website with the added convenience of being able to trade on your iPhone,” dYdX said.
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2022-05-11 06:27:04 Bitcoin Price Faces Hurdles

Bitcoin price extended downsides below the $32,000 level. BTC even tested the $30,000 support zone and traded as low as $29,755.
Recently, there was an upside correction above the $31,000 level. The price was able to climb above the 23.6% Fib retracement level of the key drop from the $36,059 swing high to $29,755 low. The bulls were able to push the price above the $32,000 resistance.
However, they faced a strong resistance near the $32,650 zone. Bitcoin remained below the 50% Fib retracement level of the key drop from the $36,059 swing high to $29,755 low.
The price is now trading below $31,500 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair. On the upside, bitcoin price is facing resistance near the $31,250 level.
#Bitcoin
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