In 2022, investors gave over $700 million in funding to companies pushing the envelope with zero-knowledge proofs. This year, ZK-proofs has arguably become one of the biggest blockchain trends, with several major Ethereum scaling protocols hitting mainnet.Continue Reading on Cointelegraph More
Platforms like immediate-alpha.org have enabled trading in Bitcoin, and traditional financial institutions alongside peer-to-peer lending platforms are entering the Bitcoin lending space. The loan application process involves understanding collateral requirements, loan terms, interest rates, and repayment schedules. However, borrowers must be aware of potential margin calls and liquidation of collateral if Bitcoin’s value drops sharply during the loan term.As we approach year-end, anticipation for another “Santa Claus rally” for Bitcoin intensifies. This expectation is rooted in historical year-end price surges due to increased trading activity as investors engage in portfolio rebalancing and tax considerations. The holiday season’s optimism typically bolsters trade volumes and bullish sentiment.Institutional involvement from entities like Tesla (NASDAQ:TSLA), Square, and MicroStrategy has fostered Bitcoin’s maturation as an asset class. The advent of Bitcoin futures and other financial products on major exchanges has facilitated institutional exposure to Bitcoin, boosting demand.Bitcoin’s role as a hedge against inflation and currency depreciation amid unprecedented fiscal stimulus measures due to COVID-19 has attracted investors seeking protection against fiat currency depreciation. The low-interest-rate environment and potential negative real yields have made traditional assets less appealing, augmenting Bitcoin’s attractiveness due to its potential for high returns.Despite the allure of a year-end bull run, understanding the inherent volatility and risks associated with cryptocurrency investing is crucial. Bitcoin’s over 70% increase in 2023, largely due to concerns of a banking crisis and the approval of a spot Bitcoin ETF in the US, has drawn parallels with trends from 2017 to 2020 and the historic peak of $69,000 in November 2021, fueling speculation of another significant breakout.Regulatory considerations remain pivotal as governments worldwide grapple with cryptocurrency regulation. Positive regulatory frameworks can instill investor trust, while negative decisions can deter investment. Market sentiment and technical analysis techniques including moving averages, Relative Strength Index (RSI), and Fibonacci retracement levels significantly influence Bitcoin price changes.The future of Bitcoin lending looks promising as Bitcoin gains mainstream acceptance. The lending market is set for growth, with new products and services likely to emerge. Regulatory developments can significantly affect this space, and technological innovations such as smart contracts and cross-chain lending could further transform the landscape. However, tightening regulatory policies by entities like the U.S. Federal Reserve pose challenges for Bitcoin, significantly impacting its future.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Thakur started her cryptocurrency journey by falling for a crypto doubling scam, which she claims taught her an important lesson to take her research of the industry more seriously. She went on to work on multiple projects before moving to MultiChainZ. Continue Reading on Cointelegraph More
The development underscores the challenges the crypto industry continues to face almost a year after the bankruptcy of Sam Bankman-Fried’s exchange FTX, which led to a meltdown in the sector that overwhelmed several major firms.Through the lawsuit, Attorney General James is seeking restitution for investors and “disgorgement of ill-gotten gains,” along with a ban on all the three cryptocurrency firms from the financial investment industry in New York.At the heart of the lawsuit is a program that Gemini ran in partnership with Genesis, dubbed “Gemini Earn”. The program allowed customers to lend crypto assets such as bitcoin to Genesis.Gemini, run by the Winklevoss twins best known for their legal battle against Meta Platforms (NASDAQ:META)’ Mark Zuckerberg, had billed the program as a “low-risk investment” even when its internal analyses had found Genesis was on risky financial footing, James alleged.Gemini knew Genesis’ loans were undersecured and at one point highly concentrated with one entity, Bankman-Fried’s crypto hedge fund Alameda that later went belly up, James said.It did not reveal any of this information to the investors of Gemini Earn, she added.Gemini posted on messaging platform X, formerly known as Twitter, that the lawsuit “confirms what we’ve been saying all along”, but disagreed with the decision to also sue Gemini. Genesis and Gemini have clashed several times over the past few months, including over Gemini Earn. Gemini is also the largest creditor of Genesis, which filed for bankruptcy protection in January.DCG did not immediately respond to a request for comment. More
Gensler reiterated Bitcoin’s classification as a non-security, indicating that this perspective would guide the SEC’s comprehensive review of these filings. The approval process, which typically spans between 12 to 24 months, often around 15 to 19 months, involves a rigorous procedure akin to an initial public offering (IPO). This process requires registration with the SEC and thorough analysis by its Division of Corporation Finance and Division of Trading and Markets.A significant decision lies ahead for the SEC in terms of Grayscale Investments LLC’s proposal to convert its Bitcoin trust (GBTC) into an ETF. The outcome of this proposal could potentially set a precedent for future approvals in this burgeoning segment of the financial market.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Manufacturers have shown notable pessimism about future production. This decrease in sentiment comes at a time when the eurozone, where France is the second-largest economy after Germany, is preparing for slower growth this year, according to forecasts by the European Union.Despite this overall trend in the eurozone, France is expected to buck the trend and secure a 1% growth for 2023, as detailed in a report by Joshua Kirby (NYSE:KEX). This growth expectation for France stands in contrast to the general anticipation of slower growth within the eurozone and the current pessimistic outlook among French manufacturers.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More
Bitpanda holds a license in a number of European jurisdictions, such as Austria, Germany, France, Czechia and Sweden. According to the deputy CEO of Bitpanda, Lukas Enzersdorfer-Konrad, the registration marks another step in the company’s expansion in Europe: Continue Reading on Cointelegraph More
Prime Minister Narendra Modi’s party, which faces elections in key states this year and national polls in 2024, has been under pressure to create jobs and help farmers, which may lead to higher than planned expenditure for the year.”The central government is likely to meet its 5.9% deficit target for FY23-24,” said Krishna Srinivasan, IMF’s director for the Asia and Pacific department. Earlier, this month, India hiked the cooking gas subsidy for low income households to 300 rupees per cylinder from 200 rupees announced in August. This could add to the 3.74 trillion rupees of subsidies for food, fertiliser and fuel planned for the current fiscal year, and with elections on the horizon more such measures are expected.”There’s some pressure on expenditure with higher than budgeted expenditure expense some areas – subsidies, higher MNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) expenses. At this stage, we see room in the budget to absorb these unexpected increases,” Srinivasan said.Earlier this month, IMF raised its growth forecast for Asia’s third-largest economy to 6.3% from 6.1%, reflecting stronger-than-expected consumption. More
