Cryptocurrency

On Sep. 29, Ether’s price rose nearly 2.5% to $1,688, its highest level in a month.Continue Reading on Coin Telegraph More

In a paper released in February, the NBG stated that it was considering a two-tier design for its CBDC, with wallets provided by a third party. It would be programmable and support asset tokenization. Continue Reading on Coin Telegraph More

The past week in DeFi was dominated by developments in some of the OG DeFi protocols, with Uniswap Foundation announcing plans to raise $62 million in new funding and decentralized oracle service provider Chainlink brushing aside concerns about changes it made to multisignature wallets.Continue Reading on Coin Telegraph More

This surge in accumulation was particularly noticeable after BlackRock (NYSE:BLK), the world’s largest asset manager, filed to launch a spot Bitcoin exchange-traded fund (ETF) in the United States. The move by BlackRock seems to have sparked renewed interest among large investors, with several other financial powerhouses also actively exploring ways to provide access to Bitcoin.The market has responded positively to these developments. As per CoinGecko’s data, the price of Bitcoin rose by 2.5% within 24 hours on Thursday. Ether (ETH), the second-largest cryptocurrency by market capitalization, also charted gains of approximately 4%.Notably, it’s not just Bitcoin that’s seeing increased accumulation. Tether (USDT), a popular stablecoin, is also witnessing a similar trend. Wallets holding between 100,000 and 10 million USDT tokens have been increasing their holdings and now control around $15 billion worth of the stablecoin, marking a six-week high.These large investors started purchasing Bitcoin en masse in June, shortly after BlackRock announced its intention to introduce a spot Bitcoin ETF in the States. They bought over $2 billion worth of the asset between June 17 and July 10. Additionally, these investors were also active last month when the crypto market experienced a significant correction. They purchased more than 11,600 BTC between August 17 and August 25.This accumulation of Bitcoin and Tether by large investors is generally viewed as a bullish sign for the market. It indicates high levels of confidence and suggests that these investors anticipate future price increases. However, the market’s reaction to these developments will continue to be closely monitored.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

The decision to cancel the acquisition came in the wake of a security incident involving a third-party analytics vendor, which resulted in a loss of $12 million to $15 million, primarily in Bitcoin (BTC), along with smaller amounts of USD Coin (USDC) and Tether (USDT). Ripple stepped in to compensate customers for these losses. Despite the change in plans, Garlinghouse expressed his continued support for Fortress Trust. He praised the team for their talent and their products that solve real customer problems. He also expressed hope for future collaborations between the two companies.Fortress Trust was established in 2021 by Scott Purcell, an entrepreneur with a background in equity and debt crowdfunding. The company aims to help large enterprises navigate the complexities of digital currencies. The potential acquisition by Ripple was noteworthy as it would have granted Ripple a license in Nevada, opening up new regulatory possibilities for the company and allowing it to extend its range of regulated services to specific customers within the United States.While the financial specifics of Ripple’s failed acquisition of Fortress Trust remain undisclosed, insiders hinted that the deal’s price tag was below the $250 million that Ripple paid for Metaco, another custody services company, back in May.This development comes at a time when Ripple’s XRP token is gaining interest from private and public entities following a landmark court ruling. The court determined that XRP is not necessarily a security but can be considered one when sold to institutional investors, meeting the conditions set by the Howey Test. Ripple views this court decision as a victory and a positive development for its growth in the US market. With its legal position clarified, the company is now looking to expand its operations by seeking the necessary regulatory licenses for conducting crypto-related activities.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

Taleb, known for his work on unpredictability in financial markets in the book “Black Swan,” criticized Kiyosaki’s assessment — particularly his belief in silver and gold as a safe haven against inflation caused by extensive money printing by the U.S. Federal Reserve.The “Black Swan” author argued that historical data indicates the dollar’s stability against gold and silver, even amid significant economic turmoil in the past, such as during 1979-1981.Source: This clash of perspectives highlights the ongoing debate within the financial community about the future of traditional assets like precious metals and the rise of cryptocurrencies, particularly .This article was originally published on U.Today More

Data from Holesky’s dashboard showed a steady block production including client activity from entities like Google (NASDAQ:GOOGL) Cloud, Lighthouse, and Teku.Holesky, the largest test network launched on Ethereum since the Merge, was successfully released on Sep. 28.At press time, the testnet ran smoothly and was not stalled by issues reported by developers after the first attempt.Additionally, sentiment from a YouTube livestream organized by a developer known as EthStaker suggested that Ethereum builders are satisfied with Holesky’s launch. “Not going to have to build a third one,” one developer said on the call.Holesky is positioned as a key component of Ethereum’s testnet ecosystems where builders simulate important updates like proto-danksharding to slash transaction costs and run trials for decentralized applications (dapps).Apart from addressing limited test Ethereum (ETH) supply on Goerli, a major Ethereum testnet, developers built Holesky to onboard twice the number of validators on Ethereum’s mainnet.Ethereum crossed 500,000 validators in January 2023, over three months after The Merge in September 2022, while Holesky currently boasts 1.4 million active validators on the network.Also, Holesky’s genesis test ETH supply is set at 1.6 billion to adequately power developer activity on the testnet.Holesky arrived just over two weeks after The Merge’s anniversary on Sep. 15. The Merge, regarded as Ethereum’s most pivotal technical upgrade to date, refers to the move away from proof-of-work (PoW) to proof-of-stake (PoS).Ethereum PoS introduced several changes including reduced ETH emissions to achieve deflationary supply and validators to replace miners in the former PoW model.Interestingly, The Merge is one of six milestones listed in Ethereum’s roadmap. Other major upgrades include The Surge, The Scourge, The Verge, The Purge, and finally The Splurge.Developers also hope to tackle community concerns such as unchecked staking with upgrades like in Dencun.This article was originally published on Crypto.news More

Jamie Coutts, the analyst, shares that this presents an evolution to the industry, introducing new opportunities and challenges to the network, including higher prices in the West and potential to overload fragile energy grids in more affordable countries.Simultaneously, Coutts shares that small-scale miners are still critical to ensure the crypto industry remains decentralized and less fragile.Unfortunately, on the other side, in many countries, mining is outlawed or economically unfeasible. As a result, Western countries, including Australia, the United Kingdom and the United States, are priced out despite leading the energy transition.In contrast, the Bloomberg analyst points out that even if electricity prices are affordable, the machines still face the risk of overloading fragile energy grids and managing political instability.He suggests that the most striking piece of information in the report is that in the West, the promise of cheap energy from renewables has not materialized.As the number of renewables is added, prices continue to increase. For example, in Australia, 32% of energy is sourced from renewables and the divergence between energy prices and CPI continues to widen.These findings surfaced just a few days after Bitcoin mining machines were confiscated in a Venezuelan prison after operations had been suspended in March as a part of an alleged corruption scheme involving crypto wallets.On the other hand, looking at the West, in Canada, the British Columbia Supreme Court granted approval for the Canadian Bitcoin miner Hut 8 and U.S. Bitcoin Corp to merge in an effort that would reshape Bitcoin mining and high-performance computing in the industry.This article was originally published on Crypto.news More