According to a statement from the CEO, this process forms an integral component of the firm’s strategy for fundraising and reorganizing its debts. In anticipation of the firm’s upcoming app relaunch and in preparation for its fundraising initiative, it is affording its users the opportunity to transform their debt tokens into convertible notes at a favorable discount in Patricia.Continue Reading on Cointelegraph More
In a tweet, Buterin clarified the nature of the transactions, asserting that any reports indicating his personal selling of were misleading. He clarified that these transfers were primarily charitable donations made to organizations and projects, necessitating liquidation to cover operational expenses.The Ethereum founder’s message comes in response to growing confusion within the cryptocurrency community regarding the nature of these transfers. Many perceived them as sell-offs, which led to bearish sentiments on the market.A notable example emerged recently when Kanro, a charity closely affiliated with Vitalik Buterin, made substantial transfers of approximately 15.43 million USDC. Out of this total, 500,000 USDC found its way to Coinbase (NASDAQ:COIN) on Oct. 14, while a substantial 14.93 million USDC was sent to Gemini on Oct. 16.Buterin had previously introduced Kanro on June 9, 2023, highlighting that it primarily receives funding from Crypto Relief, led by the Polygon founder and himself. Kanro’s mission revolves around researching global solutions for the pandemic and potential future epidemics.Despite Buterin’s attempts to clarify the situation, the enigmatic nature of his recent activities continues to raise eyebrows. While some questions have been answered, a lingering air of mystery surrounds his transactions, leaving many intrigued. As the crypto world speculates about motives, it seems there might be more to this story than meets the eye.This article was originally published on U.Today More
The sentiment on traditional financial markets often has a ripple effect on the crypto market. When traditional markets are expected to perform well or show stability, institutional investors are sometimes more inclined to diversify their portfolios and explore riskier assets, such as . Powell’s indication of a potential pause in interest rate hikes can be seen as a stabilizing factor for traditional markets. If these markets respond positively, we might witness an inflow of funds into the crypto sector as a diversification strategy.With Powell’s suggestion of maintaining current interest rates, there is a possibility of a lower yield on traditional financial instruments. This could bolster attractiveness as a store of value, prompting both retail and institutional investors to allocate more funds into Bitcoin.The decentralized finance (DeFi) sector within the crypto ecosystem is particularly sensitive to interest rate changes. DeFi platforms offer yield farming and staking opportunities that can sometimes provide returns far exceeding traditional instruments. If the Fed holds interest rates steady, the yield disparity between traditional financial products and DeFi could widen.The broader uncertainty surrounding global economic conditions, inflation rates and central bank policies often acts as a catalyst for investors to diversify their portfolios. Cryptocurrencies, being noncorrelated assets, serve as a natural choice for portfolio diversification.This article was originally published on U.Today More
Sunil’s X post highlights the ever-evolving tactics online scammers employ.Continue Reading on Cointelegraph More
NEW YORK (Reuters) – Growing volatility in U.S. stocks is driving a search for defensive assets, though investors may have fewer places to hide this time around.Wall Street’s most closely-watched measure of investor nervousness, the Cboe Volatility Index, on Friday hit its highest in nearly seven months, as the S&P 500 slid for the week. The benchmark stock index is down 8% from late July, when it hit its high for the year, though still up 10% year-to-date.Assets that can help investors weather the storm may be in short supply. Equity sectors such as utilities and consumer staples, popular with nervous investors when markets grow choppy, have been swept up in the S&P 500’s recent decline. The Japanese yen stands at its lowest against the dollar in about a year. U.S. government bonds are on track for an unprecedented third straight annual loss, with yields on the benchmark 10-year Treasury – which move inversely to bond prices – at their highest since 2007. That has left investors piling into other traditional safe-haven assets such as the dollar and gold, as well as short-term debt. Nevertheless, “it is no doubt a challenging environment for well-diversified portfolios,” said Angelo Kourkafas, senior investment strategist at Edward Jones. Of Treasuries, he said, “We have this safe haven asset class that is not necessarily at the moment getting any bid or providing much safety from that volatility of the headlines.”Investors have plenty of reasons to be jumpy. Rising bond yields have dampened risk appetite, raising the cost of capital for companies and offering investment competition to stocks. Federal Reserve Chairman Jerome Powell on Thursday said the stronger-than-expected U.S. economy might warrant tighter policy. Fears that the conflict in the Middle East will widen have made traders more anxious, while a weaker-than-expected earnings report for Tesla (NASDAQ:TSLA) this week also darkened the mood. Volatility in stocks has been accompanied by increased gyrations in the Treasury market. The MOVE index, which measures expected volatility in U.S. Treasuries, stands near a four-month high.”When rates are increasing at the rate they are and the geopolitical situation is what it is, now you are getting a bid to volatility,” said Brent Kochuba, founder of options analytics service SpotGamma.The week ahead will be busy for markets, with earnings due from Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), Amazon (NASDAQ:AMZN) and Meta Platforms (NASDAQ:META) – four of the seven U.S. megacap stocks whose gains have powered the S&P 500 higher this year while the rest of the index has lagged. The index’s defensive sectors have been battered this year, with utilities down about 18%, consumer staples off nearly 9% and healthcare down roughly 6%, partly because higher yields on Treasuries have dulled their allure.”Safe-haven assets have not performed as expected in response to conflicting growth data and elevated geopolitical tensions,” analysts at UBS Global Wealth Management wrote on Friday. Investors still have some portfolio hedges. Prices for gold have soared 8% since the conflict between Israel and Hamas broke out this month. In currencies, the Swiss franc, a longstanding safe haven asset, stands near its highest level against the euro since 2015. The dollar is up 5% in the last three months. Some investors are moving to short-term Treasuries or money-market funds, which are providing more attractive returns since interest rates began rising early last year. “There are certainly plenty of investors who … at 5% plus rates on completely liquid Treasury bills are willing to park there while they await some clarity on inflation and on the economy,” said Rick Meckler, partner at Cherry Lane Investments. U.S. money market funds have seen $640 billion in inflows this year, according to LSEG data.To buffer against bond market volatility, UBS analysts said they preferred five-year duration relative to 10-year “to earn yield and to mitigate the risk that 10-year yields continue to rise.”They also recommended hedging against a widening conflict in the Middle East by taking long futures positions on Brent crude oil.Geopolitical uncertainties, climbing bond yields and the risk of more losses in stocks means “investors face fresh uncertainties,” they wrote. More
Random numbers are of great importance in a number of applications, including games, security systems, decentralized autonomous organization (DAO) governance, and nonfungible token (NFT) generation. If your game cannot access randomly generated numbers, your starts will become repetitive and stale. If your security system relies on easily guessed authentication codes, it isn’t providing much security. If any system that needs variety isn’t getting it, it won’t be very effective. Continue Reading on Cointelegraph More
A court-issued worldwide freeze order was tokenized as soulbound NFTs and attached to the wallets in question. The NFTs will not prevent transactions with the wallets but will serve as a warning to counterparties and exchanges that the wallets were involved in a hack. In addition, iSanctuary claimed it has devised a means of tracking funds leaving the wallets, thanks to the NFTs. The NFTs will be permanently attached to the wallets.Continue Reading on Cointelegraph More
In its announcement, Base claims the program is necessary because most software developers still do not know how to build Web3 apps. “Today, there are fewer than 30,000 onchain developers,” it states, “compared to nearly 30 million software developers.” This implies that only 0.1% of software developers work in Web3.Continue Reading on Cointelegraph More
