According to multiple reports from Sept. 2, Shanmugaratnam defeated presidential candidates Ng Kok Song and Tan Kin Lian to become the next president of Singapore with roughly 70.4% of votes. He will be sworn into office on Sept. 14 — less than two weeks after the election.Continue Reading on Coin Telegraph More
The memorandum, penned by SBF’s lawyer Mark Cohen, calls the requests filed by the United States Department of Justice (DOJ) “unfounded and overbroad,” among other things.Continue Reading on Coin Telegraph More
In an interview, Li Zhikai, the global chief commercial officer of OKX, said that it is actively engaged in a dialogue with the banks and is currently waiting for the group to be issued a license and start a business. The crypto exchange has started the preparatory work, such as technology docking.Continue Reading on Coin Telegraph More
The death cross is often viewed as an ultimate bearish signal. It occurs when a short-term moving average crosses below a long-term moving average.Yet, Ethereum’s trading history suggests that both golden crosses (the opposite of death crosses) and death crosses can be misleading. They are not the be-all-end-all indicators many consider them to be. In fact, they often serve as mere blips in the grander scheme of market movements.Source: Now, let’s delve into the liquidity aspect. , like many other cryptocurrencies, has been grappling with a lack of market traction. The volume and liquidity are not exactly painting a rosy picture. However, this is not a fundamental issue with Ethereum itself but rather a symptom of broader market conditions.On the flip side, Ethereum has been showing signs of life in other areas. For instance, its Total Value Locked (TVL) has been on an upward trajectory, indicating that the network is far from stagnant. This suggests that the fundamentals are strong, even if the market indicators are currently less than ideal.So, what’s the takeaway here? Ethereum’s recent death cross does not spell disaster. It is merely a chapter in a longer narrative that includes other factors like , volume and fundamental strength. While the market may be in a state of flux, Ethereum’s underlying technology and adoption metrics are robust.This article was originally published on U.Today More
According to a report by a local media outlet, the Korea JoongAng Daily, multiple anonymous government sources confirmed on Aug. 3 that the bill is in the works. A government official who remained anonymous reportedly said that the bill would reflect the president’s belief that the country’s cybersecurity framework needs to be repaired, the report said. Continue Reading on Coin Telegraph More
In a Sept. 2 post on X (formerly known as Twitter), Gluchowski envisions an “Ethereum Supreme Court” that would function similarly to the US Supreme Court, serving as the ultimate adjudicator for disputes arising from smart contract issues. It would negate the necessity of involving traditional legal avenues or lawyers.Gluchowski emphasized that the primary role of this system would be to shield protocols from external political interference. He believes it would be a potent deterrent mechanism, enhancing Ethereum’s stature as a formidable network state.Delving deeper into the concept, Gluchowski explained that a tiered system of on-chain courts would manage the disputes and emergency upgrades. The pinnacle of this system would be an Ethereum layer-1 soft fork, dubbed the “Court of Final Appeal.”Each protocol would govern itself in this structure, having regular and emergency upgrade mechanisms in place. Additionally, a particular contract would be designated to initiate an appeal process.An appeal window would be opened during an emergency upgrade, allowing any user to lodge a challenge to a higher court, albeit after depositing a predetermined bail amount. The hierarchical structure of the courts would be clearly defined, with the Ethereum Supreme Court being the ultimate recourse for appellants.Gluchowski illustrated that protocols like Aave and Uniswap could potentially resolve disputes in courts named CourtUnchained or JusticeDAO. Following a verdict from these courts, parties would have the option to escalate the matter to the Ethereum Supreme Court.However, Gluchowski conceded that the success of this on-chain court system hinges on robust social consensus. He acknowledged that the process would be costly, ensuring that only cases of significant magnitude would be presented before it. He cited instances that would warrant such attention, including bugs in major protocols like Uniswap or a DeFi protocol posing a systemic risk.While acknowledging the existence of several current solutions to address such disputes, Gluchowski argued their effectiveness is limited. He cited the inadequacy of time-locked features on smart contracts during emergencies and the potential risks of introducing a security council.In conclusion, Gluchowski announced that he, along with his team at zkSync, a layer-2 scaling solution developed by Matter Labs, are willing to support research into this latest proposal financially, indicating a promising step towards a more autonomous and secure future for the Ethereum network.This article was originally published on Crypto.news More
Data from Cointelegraph Markets Pro and TradingView showed BTC price avoiding volatility over the weekend, operating in a tight $200 range.Continue Reading on Coin Telegraph More
The correction came following mid-week gains driven by positive regulatory news, which caused BTC to experience a remarkable 8% surge, hitting over $28,000 on Aug. 29. However, the coin failed to break through the significant resistance point of $30,000.The initial increase followed a federal appeals court’s decision directing the SEC to rethink its denial of Grayscale Investments’ request to convert its GBTC into an Exchange-Traded Fund (ETF). Aligning with recent trends, Bitcoin quickly gave back a significant portion of these gains, with crypto advocates arguing that the approval of a Bitcoin spot ETF could act as a massive price catalyst for the coin.At the time of writing, Bitcoin was trading at $25,840, per CoinGecko, showing a minor 0.5% increase over the past 24 hours. BTC price chart | Source: CoinGeckoOver the course of last week, Bitcoin’s movements have been relatively stable, with a decline of about 1.1%. However, the fluctuation experienced in the last few days has led to some speculation about the future of Bitcoin. A crypto analyst known as Tolberti shared his insights on TradingView on Sept. 3, suggesting that the sudden surge and subsequent drop in Bitcoin’s value could potentially be a “bull trap” or “fake pump.” He noted a significant head and shoulders pattern in the current Bitcoin chart, typically indicative of bearish trends.BTC/USDT chart | Source Tolberti via TradingViewTolberti saw this trend shift as a chance for traders to go short on Bitcoin, identifying key price levels as potential entry points. However, he warned that Bitcoin did not seem ready for a full-blown bull market, backing his bearish stance with several indicators. One such indicator was Bitcoin trading below its 200-week moving average (M.A.), traditionally a sign of extended bearish sentiment. He speculated that Bitcoin could drop to $10,000, possibly reversing as early as March 2024.He also acknowledged that Bitcoin displayed an impulse wave after a significant market crash — usually a bearish signal. A bullish correction might come before another considerable downturn, adding another layer of unpredictability to Bitcoin’s future price movement, he explained.This article was originally published on Crypto.news More
