Crypto Bubble

2022-12-06 11:33:19 ​Total USDC supply in the market fell by $800 mln

Cryptocurrency journalist and analyst Colin Wu spoke about the situation regarding USD Coin Stablecoin (USDC). He noted that he studied the statistics related to this virtual asset. According to him, about $3.2 billion USDC appeared on the market from November 25 to December 1, 2022. However, during the same time interval about 4 billion USDC were redeemed.

Thus, the circulating supply decreased by about 800 mln USDC. It fell from $43.8 billion to $43 billion. The journalist stressed: this stabelcoin is still very popular among members of the cryptocurrency community and ranks second by total market capitalization in the sector.

As of 14:00 Moscow time on December 5, 2022, the total supply of USDC coins in the market was $43.34 billion. The leader of this industry, for example, stabelcoin Tether (USDT), had a total capitalization of $65.5 billion. In third place in the ranking of the most popular stable coins in the market, is Binance USD (BUSD). Its total supply was equal to $22.08 billion at the moment of writing the news. Open / Comment

2022-12-04 12:53:11 ​Cryptocurrencies adjust under pressure from 'China factor'

Digital currencies began the week in decline following a renewed correction in stock markets. Social tensions in China provoked capital outflows from risky assets in both Asia and North America.

The day before the US trading ended with the decline of S&P 500 and Nasdaq indexes by 1.5%. The U.S. currency, on the other hand, strengthened for the second consecutive day. The dollar index rose to 106.664 points on Tuesday, November 29.

Trading in Asia today was also predominantly in the red zone, with negativity shifting to Europe.

Cryptocurrencies along with IT stocks are declining in value, but their losses have been minimal so far. Bitcoin (BTC) corrected to $16,491. Ether (ETH) and Binance Coin (BNB) fell 0.5% to $1216 and $303.5, respectively.

Of the top ten cryptocurrencies, Dogecoin (DOGE) is confidently rising. This coin rose by 9.49% to $0.104 overnight. During the week DOGE capitalization soared by almost 40% to $13.809 billion. Open / Comment

2022-12-02 15:00:05 ​India to test retail CBDC in December

On 1 December, the Reserve Bank of India (RBI) will launch a pilot project to test retail digital rupee. A "closed user group" consisting of consumers and merchants will participate in the test.

In the first phase, the testing will take place in Mumbai, New Delhi, Bangalore and Bhubaneshwar. In the future, the pilot will expand to nine more cities.

According to a press release, the retail CBDC will be distributed through intermediaries, which will be banks. State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank have already joined the initiative. RBI also intends to involve four additional lending institutions in the project.

"Users will be able to make digital rupee transactions through wallets offered by participating banks .... P2P transactions and transfers in favour of merchants are envisaged. Payments to merchants can be made through QR codes," the statement said. Open / Comment

2022-11-30 12:00:15 FLAG Token is here! FlagMedia owns CryptoTimesRegister, PRDailyWire & many other popular newspapers & magazines. FlagMediaMall connects vendors to buyers using FLAG for commerce. Less than 8 mil tokens in circulating supply - very high demand!

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Twitter: twitter.com/flagmediagroup Open / Comment

2022-11-30 11:12:16 ​Ripple lawyer suspects collusion between SEC and cryptocurrency lender BlockFi

Sam Bankman-Fried (SBF) arranged the collapse of FTX, which had the most adverse effect on the cryptocurrency market. Cryptocurrency lender BlockFi is believed to be preparing to file for bankruptcy because of it. And Ripple's lawyer saw this as a compromise with the U.S. SEC.

The SEC said in a press release that charges were filed against BlockFi for failing to register sales and offers of its credit product. The commission stressed that this is the first action of its kind taken against cryptocurrency platforms.

Ripple's general counsel Stuart Alderoti found something fishy about the agreement between BlockFi and the SEC. He stated that nothing in the BlockFi/SEC deal was documented and transparent.

He inquired about the first two payments on the $100 million fine and asked if they had been made at all. Ripple's General Counsel urged the SEC to confirm BlockFi's solvency and disclose the source of the funds. Open / Comment

2022-11-28 22:10:01 Health and Fitness industry revolution is here - The Bitcoin of Healthcare

Epillo Health Systems OÜ is a health and fitness company founded in 2020 which helps consumers manage their health, medicines, physical activity & lifestyle by making disruptive health & fitness products and services. To further spread its ideology of consumerization of healthcare, the company constantly uses cutting-edge blockchain technology and the various utilities it offers.

The company has developed an entire ecosystem comprising of Blockchain based smart wearable range with features like storing health & fitness data on the chain, NFT authentication, move to earn, NFT gaming and marketplace, health and wellness product marketplace, staking and swapping, Digital Therapeutics software to reduce Adverse Drug Effects based on WIPO-gazetted patent on blockchain-based drug-drug and drug-food interactions and much more.
The company aims to govern this entire ecosystem through its project token - EPILLO.

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More info: Epillo.io
Twitter: twitter.com/epillo_io Open / Comment

2022-11-27 15:00:07 ​​Celsius bankruptcy victims get proof-of-claim deadline from US court.

The situation surrounding the Celsius bankruptcy continues as U.S. regulators set a deadline for those affected by the situation to file a proof claim against the company.

The ongoing case of the Celsius bankruptcy continues as the United States Bankruptcy Court in the southern district of New York State approved a new filing deadline.

According to an official document, a deadline has been set for those filing any claims against the former digital assets lender. Any person or entity — which covers individuals, partnerships, corporations, joint ventures and trusts — who wishes to do so must submit a proof of claim by Jan. 3, 2023, 5:00 pm EST.

Celsius itself made a thread on Twitter, informing its former users of the recent court deadline approval, along with step-by-step information as to how claims are filed:

The decision came shortly after the independent examiner in the Celsius case made an allegation that the company had “insufficient’ accounting and operational controls in its management of customer funds. Open / Comment

2022-11-24 18:00:14 ​​Uzbekistan Licenses 2 Crypto Exchange Service Providers

The regulatory body overseeing the crypto market in Uzbekistan has issued licenses to two companies that will be providing exchange services. The decision to authorize their activities aims to make it easier for Uzbekistanis to purchase and sell digital currencies, the agency said.

Uzbekistan’s National Agency of Perspective Projects (NAPP) has granted licenses to two entities established to offer cryptocurrency exchange. Crypto Trade NET and Crypto Market have been registered as “service providers in the field of crypto assets turnover,” the authority announced.

The NAPP, which is subordinated to the presidency in Tashkent, is the main regulator for the Central Asian nation’s crypto sector. “The Republic of Uzbekistan is one of the few countries in the world that has a well-formed framework for regulating the circulation of crypto assets,” the agency noted.

The regulator is referring to several presidential decrees and resolutions issued to determine its responsibilities and develop the country’s digital economy, including the crypto space. They introduced rules for the licensing of businesses dealing with cryptocurrencies. Open / Comment

2022-11-22 13:00:14 ​​Brazilian Cryptocurrency Bill Resurfaces After General Ballot

The Brazilian cryptocurrency bill, sidelined several times due to the general election ballot that happened on October 30, might be discussed and voted on during the following week. According to reports, the project identified as 4.401/2021 will be on the agenda for being discussed by the Chamber of Deputies, marked as urgent, and listed to be discussed on Nov. 22.

The Brazilian cryptocurrency bill, a project that seeks to regulate the actions of cryptocurrency exchanges and custody agents, as well as establish clear cryptocurrency mining rules, will be on the agenda of the Chamber of Deputies next week. The bill, which had been sidelined before the general ballot that happened on Oct. 20, is slated to be discussed on Nov. 22.

The bill might be discussed and voted on if the chamber decides that it is of importance, as the document is the fourth item in the list to be discussed in that session. Still, deputies can change the agenda of the day, and postpone the discussion of the bill, as has happened in several opportunities before.

According to local reports, there might be a window of opportunity for the project to be discussed, due to the laws that are currently being discussed in the Senate. However, others key actors have disregarded this possibility, as president Lula’s takeover might bring important changes to the budget law for 2023, requiring attention from both chambers. Open / Comment

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