Crypto Sale

2023-09-28 10:26:43 ​​Social platform behind ‘retail short squeeze’ launches crypto trading.

Stocktwits plans to expand its crypto trading services by launching U.S. equity trading and crypto derivatives trading in the coming months.

Investor-focused social media platform Stocktwits, which gained popularity during last year’s “retail short squeeze” frenzy involving GameStop and AMC Theaters, rolled out its own crypto trading services on Thursday.

Stocktwits has partnered with FTXUS to carry out its crypto trading services and is set to launch United States equity trading next quarter. The firm further looks to expand its trading services portfolio by offering crypto derivatives trading and other asset classes in the coming months.

Stocktwits boasts 6 million registered users and sees 5 million active users monthly. The new crypto trading option would allow users to trade directly from their profiles and allow them to showcase their portfolios as well.

The social network platform played a key role along with the subreddit r/Wallstreetbets to short squeeze meme stocks in February 2021, leading to billions of dollars in losses for hedge funds that bought millions of short positions against these stocks. The crypto community offered great support during the retail saga and asked several companies associated with it to integrate crypto as a protest against centralized bullying.

The social platform until now was primarily focused on discussions among investors and traders along with other data tools. The CEO of the platform, Rishi Khanna, acknowledged the growing prominence of crypto discussion on the network and said that the “community and data have served as a strong on-ramp into the platform.”

The launch of the live crypto trading feature would help Stocktwits join the growing list of companies from the short squeeze saga that have integrated crypto-related services. AMC integrated crypto payments for its online booking services while GameStop is entering nonfungible tokens and also plans to build new crypto partnerships. Open / Comment

2023-09-25 10:58:36 ​Large Amounts of TUSD Has Flowed to Exchanges in Last 48 Hours

The blockchain analytics firm tweeted yesterday that True USD (TUSD) has seen waves of previously dormant coins moving to exchanges. According to the tweet, this has increased TUSD’s exchange supply to 73% for the first time since June 22, 2021.

The tweet added that stablecoins flowing to exchanges usually implies increased buying power and may be a good sign for the crypto market.

At press time, TUSD is ranked number 53 on CoinMarketCap’s list of the biggest cryptos by market cap, and has a market cap of approximately $967,957,460. The stablecoin has also seen a 10.28% decrease in its trading volume over the last 24 hours. As a result, the daily trading volume for TUSD stands at $35,875,413.

CoinMarketCap shows that the total stablecoin trading volume over the last 24 hours stands at $31.73 billion. The crypto market tracking website also shows that the total stablecoin volume currently makes up 88.25% of the total volume in the crypto space.

Looking at other stablecoins in the market, Tether (USDT) still leads the way in terms of stablecoins with the biggest market caps, with its estimated market cap of $70,857,235,744.

The next biggest stablecoin by market cap is USD Coin (USDC), with its market cap of $42,557,542,338. This also ranks USDC as the 5th biggest crypto in terms of market cap overall.

The 3rd largest stablecoin and the 8th biggest crypto in terms of market cap is Binance USD (BUSD) with its market cap of $11,127,571,997. Open / Comment

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2023-09-17 12:56:18 ​NFTs arrive on Instagram: complete tutorial

NFTs, Non-Fungible Tokens, are coming to Instagram as well: here is the full tutorial on how digital assets will be managed in one of the most influential social platforms in the world.

In recent months, Meta brought a novel feature useful for sharing non-fungible tokens purchased or held on other platforms. Recently, however, came the announcement of a system that will allow people to create and sell them directly, without having to go through external services.

For now, the company has involved only a small group of creators in the United States. It is important to highlight that Meta’s choice demonstrates how the NFT market is becoming increasingly attractive around the world. Open / Comment

2023-09-15 10:22:25 ​I Don’t Trust in Music NFTs”: French Electronic Producer DJ Agoria

While some see music NFTs—unique digital assets that often have both musical and visual components—are the future of the music industry, opening up new opportunities for both artists and fans, DJ Agoria, a prominent French electronic producer, composer, and DJ isn't too keen on the hype.

“Since the beginning, I was saying that I don't trust in music NFTs, even if I'm a DJ, an artist, and a musician. We don’t want to make music NFTs mainstream, we want music NFTs to be rare, and the fact that we develop things that people desire or fight to get, excites me more,” DJ Agoria told Decrypt at this year's NFT Paris.

For him, it's about going beyond platforms like Spotify where "for $10, you can have any type of music at any time."

DJ Agoria started his career back in the 1990s when raves dotted clubs around Europe, and those vibes are still alive today, making him “really believe in the desire and the need to look for something more.” Open / Comment

2023-09-11 12:27:21 ​Neobank introduces soulbound NFTs for wallet holders’ KYC information

The neobank Cogni has announced that it is rolling out soulbound nonfungible tokens containing Know Your Customer (KYC) information to holders of its crypto wallet. The Polygon-based NFT will transfer customers’ “Web2” KYC verification done by the bank at account opening into a Web3 environment.

Cogni, which has United States Federal Deposit Insurance Corporation coverage through a traditional New York bank, introduced its noncustodial multichain crypto wallet in January. Users can send, receive and hold cryptocurrencies and NFTs in the wallet. Users can optionally mint the nontransferable soulbound NFT, which decentralized apps (DApps) can then decrypt with the owner’s permission. Open / Comment

2023-09-08 10:27:06 ​​Bahamian regulator froze assets of FTX

The Bahamas Securities Commission (BSC) has frozen the assets of FTX Digital Markets Ltd and related parties.

The commission added that it was aware of public rumors and suspicions about the crypto-exchange's illegal activities. This includes the use of customer deposits to help Alameda Research.

Just a couple of hours before this news, Sam Benkman-Fried wrote that FTX's Bahamian headquarters had stepped up withdrawals. They wanted to reroute payment routes to process more transactions and start paying out customer deposits. Open / Comment

2023-09-06 13:25:01 ​A cryptocurrency wallet prototype found in Microsoft Edge browser code

The screenshots presented by the researcher show the user interface of the cryptocurrency wallet, the decentralized application store and the news feed service. The wallet's interface shows cryptocurrency purchases via Coinbase exchange and MoonPay service.

Albacore noted that all the functionality is already built into the latest versions of the Microsoft Edge browser, but for now the cryptocurrency wallet is hidden from users.

The researcher stressed that Microsoft developers often test various features, but far from always this code gets into release versions:

"The Edge browser team is constantly adding all sorts of different features and looking at their acceptance. You could say they throw a baby in the water and see if it swims out. The list of different features they've added but ended up removing is pretty long." Open / Comment

2023-09-04 10:58:22 ​CleanSpark 2023 buying spree continues as company seeks to add 50-75MW

CleanSpark is looking to acquire between 50-75 megawatts of either greenfield sites or acquisitions in order to meet its growth target of 16 EH/s by the end of 2023.

The company expects to keep buying machines by leveraging current spot market prices, adding to the thousands of miners it scooped up last year, it said during its most recent quarterly earnings call Thursday.

"We also expect to shift our strategy when the time is right and look towards future contracts," CEO Zach Bradford said. "We believe the tides are starting to shift and locking in prices for large orders will begin to be part of our strategy in the coming months."

CleanSpark adjusted its hashrate guidance for the end of 2023 in December, down from 22.4 EH/s due to build-out delays from its infrastructure partner.

The planned expansion at the two facilities CleanSpark recently acquired in Georgia will bring the company's hashrate to 14 EH/s, with 2 EH/s left to fill.

Bradford said that it is "looking at a lot of opportunities in a lot of regions," but has a strict set of criteria that includes access to low-cost power in the long term. The spike in energy prices last year was a major pain point for miners without locked-price power contracts, combined with the decline in bitcoin's value. Open / Comment

2023-09-01 14:37:30 ​Binance Seeks License to Reenter Japanese Crypto Market After Exiting 4 Years Ago

Crypto exchange Binance is reportedly seeking to reenter the Japanese crypto market. The company exited Japan four years ago after the country’s financial regulator warned that Binance was operating illegally without a license.

Crypto exchange Binance is seeking a license to return to the Japanese crypto market, four years after exiting the country, Bloomberg reported Monday, citing people familiar with the matter.

The key reasons behind Binance’s renewed interest in Japan are the Japanese government’s easing regulatory approach to crypto and substantial potential for user growth, according to one of the people.

A spokesperson for Binance told the publication that the company is “committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward.” However, the spokesperson would not comment on specific license applications, noting that “It would be inappropriate to comment on any conversations with regulators.” Open / Comment