Speaking at Bloomberg’s Tech Summit, Lin said if he were tasked with evaluating FTX again for the first time, Sequoia would likely make the same investment decision. “I looked at the work we did in 15 different ways. […] We probably would have made the investment again,” Lin reportedly stated. Continue Reading on Coin Telegraph More
The reportedly independent subsidiary of crypto exchange Binance told customers in a June 22 update that its system remains fully operational and that U.S. dollar withdrawal requests are expected to go back to their normal five-business-day turnaround. Continue Reading on Coin Telegraph More
has been on an upward trajectory, having recently surpassed the critical $30,000 price threshold. This trend is noteworthy given that the $30,000 mark is considered a key psychological level for investors and traders. If Bitcoin successfully maintains this level, it could inspire renewed confidence and potentially drive further price appreciation.However, the outlook is not without potential pitfalls. The Swissblock signals, an array of analytical tools, highlight that the support at the $30,000 level is somewhat tenuous and not significantly robust. If the price of Bitcoin were to fall below this level, we could witness a retest of the $27,000 support level.This retest would be a decisive moment for the leading cryptocurrency. If Bitcoin is unable to maintain the $27,000 support level, it could fall into a market gap characterized by low on-chain and trading volumes. This could introduce a bearish period for Bitcoin, at least in the short term.At the same time, it is essential to consider that the on-chain metrics, such as the Bitcoin monthly transfer volume, demonstrate an upward trend. This means the fundamentals of the network are improving. Increased on-chain activity is usually a bullish sign, suggesting more users are utilizing the network, thus potentially creating upward price pressure.However, the overall of the market remains the decisive factor here.This article was originally published on U.Today More
JPMorgan has deployed its blockchain-based payment system, JPM Coin, to introduce euro-denominated payments for corporate clients, Bloomberg reported on June 23. A spokesperson for JPMorgan confirmed to Cointelegraph that the bank had expanded the JPM Coin blockchain platform from U.S. dollars to euros.Continue Reading on Coin Telegraph More
The crypto exchange platform had to comprehensively review its Anti-Money Laundering Directive compliance and adhere to other financial crimes laws before getting the nod. The latest regulatory approval in Spain comes within weeks of acquiring a major payment institution license for digital payment token services from the Monetary Authority of Singapore.Continue Reading on Coin Telegraph More
On June 23, Gemini officially announced the expansion of Gemini Staking Pro in the United Kingdom. The service allows institutions and high-net-worth individuals to become Ethereum validators by locking up at least 32 Ether (ETH), worth around $60,000 at the time of writing.Continue Reading on Coin Telegraph More
Since its inception in 2016, Casa has promoted multisignature self-custody in the crypto industry. Its flagship Bitcoin vault allows users to store the cryptocurrency using up to five keys for more distributed security.Continue Reading on Coin Telegraph More
However, analyst Will Clemente has countered Taleb’s claim, arguing that the current on-chain data paints a very different picture. According to the analyst, “The reality is that more Bitcoin is currently held by on-chain entities with less than 10 Bitcoin than ever before and climbing rapidly.” This would suggest that Bitcoin is increasingly becoming decentralized, with a broader distribution of wealth among smaller entities.While it is true that a significant number of Bitcoins is held by “whales” (entities with large amounts of Bitcoin), the number of these whales is, in fact, decreasing. This indicates a trend of dispersion, not concentration, which stands contrary to Taleb’s assertions.Interestingly, it is worth noting that the U.S. government owns a significant amount of Bitcoin. Currently, U.S. authorities hold around 205,515 Bitcoins, and this number is on the rise due to seizures from illegal activities. The U.S. government’s involvement adds another layer to the concentration debate and indicates that governmental entities are not immune to the allure of .In the final analysis, Taleb’s critique seems to oversimplify the complex dynamics at play in the Bitcoin ecosystem. The increasing dispersion of Bitcoin among smaller entities and the diminishing number of whales show a trend toward greater distribution, not concentration. It is clear that Bitcoin’s landscape is constantly evolving and requires a nuanced and data-driven approach to fully understand.This article was originally published on U.Today More
