According to a statement from the monetary authority, payment providers may not offer or facilitate crypto services through their applications. The move brings payment fintechs and financial institutions under the same rules in the country. Continue Reading on Coin Telegraph More
In a May 4 announcement, Celsius said eligible users would be able to withdraw the remaining 6% of distributable custody assets from the platform following court approval. Until January, the same users, largely those who only ever held funds in custody accounts, had been limited to withdrawing up to 94% of their funds.Continue Reading on Coin Telegraph More
Ripple CEO Brad Garlinghouse showed excitement at the support he received from community members at the ongoing XRP Las Vegas 2023 conference. In a tweet, Garlinghouse acknowledged the group’s camaraderie, noting how the community stood by and supported Team Ripple as they fought “the good fight”.Garlinghouse addressed excited supporters during the conference, appreciating their support over the years since the legal battle between Ripple and the Securities and Exchange Commission (SEC) began.He said,Ripple has been involved in a protracted legal battle with the SEC after the latter accused it of conducting an unregistered securities offering by selling XRP tokens. The SEC’s complaint alleged that Ripple and its executives, specifically Brad Garlinghouse (CEO) and Chris Larsen (co-founder and executive chair), had raised over $1.3 billion by selling XRP to investors since 2013.In December 2020, the SEC and Ripple filed their reply briefs, supporting their respective motions for summary judgment. After the filing, Ripple General Counsel Stuart Alderoty celebrated its defense, noting that his company has always “played it straight with the court.”Since the December filing, the Ripple community and the entire crypto industry have waited for the court’s decision. Ripple says it anticipates a summary judgment in 2023, hoping the court will rule in its favor. However, the judgment’s timing is ultimately up to the court.The XRP Las Vegas 2023 conference was a two-day event exclusive to XRP community members. The event was scheduled for May 6 and 7, 2023, and organizers have dubbed it the “XRPArmy Conference of a Lifetime.”The post Ripple CEO Shows Excitement Over Support From XRP Community appeared first on Coin Edition.See original on CoinEdition More
The blockchain tracking firm glassnode alerts mentioned a recent on-chain milestone for Bitcoin (BTC) in a tweet this morning. According to the post, the number of Non-Zero Addresses for the market leader recently reached an all-time high (ATH) of 46,227,591. This follows the previous ATH of 46,217,719, which was observed yesterday.Despite the number of Non-Zero Addresses for BTC reaching an ATH, the crypto’s price was down 1.57% at press time according to CoinMarketCap. As a result, BTC was trading at just under $29K at $28,902.08. This negative price movement also flipped the weekly performance of the leading crypto into the red at -1.43%.Daily chart for BTC/USDT (Source: TradingView)BTC was trading between the 9-day and 20-day EMA lines at press time as a result of the price drop over the past 24 hours. Should the 20-day EMA fail to provide BTC with the necessary support it could result in a price drop towards $27,750 in the next 24-48 hours.The daily RSI indicator suggests that a downtrend will continue in the coming 2 days as the RSI line recently crossed below the daily RSI SMA line. On the other hand, bulls reintroducing themselves to BTC’s chart within the next 24 hours will result in BTC’s price making one last move towards $30K before the release of the U.S. Core Inflation data.Later this week, U.S. Core Inflation data, along with Inflation Rate and PPI data, will be released. This macroeconomic data may have a negative impact on BTC’s price in the coming week if the outcomes are not favorable, as people will look to reduce their positions in risky asset classes.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Number of Non-Zero BTC Addresses Recently Reached an ATH appeared first on Coin Edition.See original on CoinEdition More
Some crypto community members are accusing Ripple, the company behind XRP, of falsely proclaiming that its native token XRP is decentralized and permissionless. Justin Bons, founder of Cyber Capital, claims to have found a “smoking gun” that proves Ripple has de facto control over the entire network.Bons pointed out that XRP’s consensus algorithm, Unique Node Lists (UNLs), is based on a list of trusted nodes that centralized parties, including the Ripple Foundation release. Nodes not on these lists are untrusted and do not participate in consensus.However, the researcher noted that while UNLs can be modified by users, a user can get kicked off if there is insufficient overlap with the rest of the network. He concluded that “XRP is not trustless,” adding that choosing who to trust is not the same as trustlessness.Bons’ claims have been met with mixed reactions from the XRP community. Matt Hamilton, a former core developer at Ripple, commented:Furthermore, Bons argues that XRP’s lack of block rewards and incentives makes it difficult for new validators to coordinate, which “gives the Ripple Foundation even more control over the network.”On the other hand, David Schwartz, Ripple’s chief technology officer, clarified that validators do not have control over transaction inclusion. “They solve the double spend problem, so they can choose which of two equally-valid but conflicting transactions is included.”The post Crypto Community Accuses Ripple XRP of False Decentralization Claims appeared first on Coin Edition.See original on CoinEdition More
In a tweet yesterday, the blockchain analytics firm Santiment mentioned that Lido DAO (LDO) recently saw its largest transaction in 2 years. According to the post, $135 million worth of LDO was moved from one self custody address to a new one. Notably, this is the 8th largest transaction of all-time on the LDO network.At press time, the altcoin’s price stood at $1.85 after dropping 1.45% in the previous 24 hours, according to CoinMarketCap. LDO was, however, still able to outperform the market leaders Bitcoin (BTC) and Ethereum (ETH), and printed a 0.02% gain against BTC and a 1.56% gain against ETH.Daily chart for LDO/USDT (Source: TradingView)The last 3 weeks have been troublesome for the altcoin’s price, as it spiralled downward during this period. As a result, the key support level at $2.218 was flipped into resistance and a bearish cross between the 9-day and 20-day EMA lines ensued. This caused LDO’s price to drop to the next major support level, where it traded at press time, at $1.787.LDO’s woes may be coming to an end, however, as the daily RSI line has levelled off in oversold territory. However, the current support level at $1.787 is the crypto’s last line of defence before dropping all the way down to December 2022 levels at around $1.163. Therefore, bulls may enter LDO’s charts in the coming weeks to resurrect its price.Bulls will have to overcome the 9-day and 20-day EMA lines, which are acting as resistance levels, before they can elevate LDO’s price back to the next resistance level at $2.218. A confirmation of a bullish reversal of the current trend will be when either LDO’s price breaks above the 9-day EMA line or the daily RSI line crosses above the daily RSI SMA line.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post LDO Recently Recorded Its Largest Transaction in 2 Years appeared first on Coin Edition.See original on CoinEdition More
The travel blogger and vlogger Luke Martin, on his self-titled YouTube channel, shared insights on the Ethereum Foundation’s 15,000 ETH recently moved to the crypto exchange Kraken. Martin bestowed the crypto community with an optimistic view of the ETH sale, predicting a bullish return of ETH despite the massive transfer.On May 5, as per a tweet shared by the on-chain data analyst Lookonchain, Vitalik Buterin, the co-founder of the Ethereum blockchain transferred 200 ETH worth $400,000 to Kraken. Subsequent to the move, the Ethereum Foundation too had a massive transfer of 15,000 ETH, amounting to $30 million to the same exchange.Significantly, such a sudden move of the whopping ETH has created ambiguity and pressure among investors and traders, worrying about the possibility of increasing ETH price pressure. Though recently, investors held confidence in the cryptocurrency’s bullish tendency, the huge dumping of ETH has raised concerns among them.Following the revelations, Martin shared a Twitter thread, after a detailed study of Ethereum Foundation’s ETH selling history, citing “5 of their last sells were local tops”:Subsequently, in his video, Martin shared a sketch of the Buterin’s and Ethereum Fundacion’s strategy in periodically selling the total ETH holding, which is nearly 2.9 million, to “fund development of the Ethereum ecosystem”.Notably, the blogger commented that though the transfer of ETH focuses on the benefit of the platform, it would sometimes have a negative impact on the crypto space as a whole; the sale might “spook the market” as the platform is a huge holder of ETH.However, Martin took the spectators back to 2017’s massive sale of 80,000 ETH at nine dollars, indicating that the current sale isn’t a case to worry about. He added that he expects the occurrence of “bullish news” that would follow the dumping of ETH.The post Will Buterin’s Massive ETH Dumping Result in a Bullish Market? appeared first on Coin Edition.See original on CoinEdition More
A crypto portfolio manager of a Dubai-based firm was recently kidnapped by his new Albanian colleagues and held for ransom while on vacation in Benalmádena, Spain. This development was captured in a Spanish report over the weekend.According to the report, the victim had been partying with the group for several days and met them at a luxury villa, where they tied him up and demanded €1 million for his release. While the kidnappers allowed the victim to use his phone to contact the person to pay the ransom, he managed to send a photo through the window to a colleague, who then reported the incident to the police.The police immediately began an investigation to locate the victim and free him. The police discovered the villa where the kidnappers were holding the victim using the information provided by the colleague.In a coordinated operation involving 50 police officers, the kidnappers were apprehended, and the victim was safely rescued. During the process, the police found a room full of plastic, weapons, and gardening tools, such as pruning shears and saws.The report also identified that one of the kidnappers had multiple false identities and records of crimes, while two had false Greek passports. The kidnappers are now in police custody and are expected to be charged with kidnapping, illegally possessing weapons, and injuries.The kidnapping of the crypto manager is a reminder of the growing risks associated with cryptocurrency and the need for caution when meeting new acquaintances and for increased security measures to protect against such criminal activities.The post Dubai Crypto Manager Abducted for €1M Ransom Has Been Rescued in Spain appeared first on Coin Edition.See original on CoinEdition More
