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Crypto News

Blockchain and Crypto Set to Revolutionize Payments, Asserts Ripple's White Paper

Fintech giant Ripple, in partnership with Faster Payments Council, released a white paper outlining its vision to revolutionize global money transfers using crypto and blockchain. The report highlights discontent with traditional cross-border methods and the potential of cryptocurrencies for future payments. A survey of 300 industry leaders from 45 countries showed that 97% believe blockchain and crypto will transform the industry in three years, with over 50% expecting widespread crypto acceptance among merchants. Ripple's ODL technology, utilizing XRP, is already making significant progress in cross-border payments.

U.Today - 1123 ngày trước

Long-Term Bitcoin Holders Increase Holdings by $33 Billion, Favoring HODL Strategy

Long-term Bitcoin holders have increased their holdings by over 1.10 million BTC in the past year, amounting to $33 billion, according to Glassnode data cited by on-chain analyst Ali. The Bitcoin long-term holder supply has reached a record high of 14.52 million BTC, equivalent to 75% of the circulating supply, suggesting a preference for HODLing among mature investors. The realized cap of Bitcoin, currently around $400 billion, indicates a consistent influx of capital throughout 2023. Whale-to-exchange net flows have been higher than usual, with 4,000 to 6,500 BTC-day entering the market in June and July.

U.Today - 1123 ngày trước

Crypto Hardware Giant Phoenix Technology Contemplates UAE IPO, Says Report

Phoenix Technology, a prominent crypto mining hardware provider, is reportedly considering an initial public offering (IPO) in the United Arab Emirates (UAE), a country known for its crypto-friendly regulations. While details of the IPO are still being worked out, Phoenix Technology is recognized for operating one of the largest mining facilities in the Middle East. The UAE has made significant strides in crypto regulation, establishing the Dubai Virtual Asset Regulatory Authority (VARA) and the RAK Digital Assets Oasis, attracting crypto players who prefer the country's streamlined and business-friendly infrastructure over the US's fragmented regulatory environment.

cryptointelligence - 1123 ngày trước

Exponential Growth in Ethereum Transactions through AI DAOs, Says Arthur Hayes

BitMEX founder Arthur Hayes discusses the potential for Artificial Intelligence (AI) to organize itself through Decentralized Autonomous Organizations (DAOs) using public blockchains. He argues that AI's increasing dominance poses challenges for state-sanctioned regulatory entities. DAOs would facilitate collaboration between AI and humans, allowing them to operate beyond state-based legal norms. Hayes predicts that Ethereum transactions will surge if AI DAOs become a reality, leading to an increase in ETH's value. Successful DAOs may create "natural monopolies" in decentralized exchanges (DEXs) for specific tokens, offering profitable investment opportunities.

CryptoPotato - 1124 ngày trước

ARK Invest's Cathie Wood Bullish on Bitcoin's Growth as a Safe Haven Amid Bank Failures

Cathie Wood, CEO of ARK Invest and a strong supporter of cryptocurrencies, predicts significant growth for Bitcoin as a store of value, especially in the wake of recent bank collapses. She believes that the 60% surge in Bitcoin's price, from $19,000 to $30,000, during the regional bank collapses demonstrates its potential as a safe haven for wealth storage. Wood remains bullish on digital assets, citing three revolutions driven by crypto: Bitcoin dominating the money revolution, Ethereum-based DeFi revolutionizing financial services, and the emergence of digital property rights through NFTs and the metaverse.

newsbtc - 1124 ngày trước

Kyrgyzstan's Government Backs Cryptocurrency Mining Farm to Boost Economy

Kyrgyz President Sadyr Japarov supports the establishment of a cryptocurrency mining farm at a hydroelectric power plant in Kyrgyzstan. The government plans to spend $20 million on the facility at the Kambar-Ata-2 Hydro Power Plant. Japarov believes that the mining farm will help utilize the non-used power from the plant, which has caused significant energy losses in the past. The earnings from the mining farm will be directed towards benefiting the country's budget and its citizens. Despite recent energy-related challenges, the move towards cryptocurrency mining is seen as an opportunity to boost the local economy.

cointelegraph - 1124 ngày trước

Netherlands Grants Official Registration to Crypto.com Amidst Binance's Withdrawal

Crypto.com, a crypto service provider, has received official registration from the Dutch central bank (DNB), marking a significant milestone for the company. Despite the Netherlands' strict approach towards other crypto companies like Binance and Coinbase, they have recognized Crypto.com under its formal name of Foris DAX Global Ltd. This regulatory approval showcases the company's commitment to compliance, and it has garnered recognition in jurisdictions like the U.K., Dubai, and France as well. The CEO of Crypto.com, Kris Marszalek, expressed gratitude and looks forward to collaborating with DNB and other global regulators.

coindesk - 1124 ngày trước

Sazmining Revolutionizes Bitcoin Mining in Paraguay with Sustainable Facility

Sazmining, a Bitcoin mining provider, is leveraging Paraguay's low electricity costs and commitment to renewable energy to establish a profitable mining facility. This move not only transforms Paraguay's surplus electricity into a sustainable venture but also fosters growth in the Bitcoin mining industry. Operating on a non-custodial model, Sazmining ensures customers receive their Bitcoin rewards directly to their wallets, while providing top-notch maintenance, customer service, and security. This development allows Paraguay to monetize its surplus energy and create a promising future for the country and the Bitcoin mining sector.

Bitcoin Magazine - 1125 ngày trước

Coinbase CEO Brian Armstrong Urges Support for Crypto Regulation Bill in the

Coinbase CEO, Brian Armstrong, is advocating for support of the Financial Innovation and Technology for the 21st Century Act, which aims to create clear regulatory guidelines for the crypto industry in the United States. The bill, sponsored by a group of congressmen, proposes that the U.S. Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CTFC) oversee the regulatory system for crypto assets. Armstrong argues that passing the bill would safeguard the value of crypto, promote American innovation, and enhance national security by providing much-needed clarity and certainty to the digital asset space.

The Daily Hodl - 1125 ngày trước

Binance's Founder CZ Announces Full Services Launch in Japan from August

Cryptocurrency exchange Binance, founded by Changpeng Zhao (CZ), is set to launch full services in Japan starting from August. This comes after Binance announced its discontinuation of services through its global platform and acquired the Japan-regulated Sakura Exchange Bitcoin (SEBC) in 2022. The move allows Binance to comply with local regulations and scale up operations in the Japanese market. During a virtual address, CZ praised Japan's regulatory environment and confirmed Binance's commitment to the Japanese market. Binance is also exploring opportunities in other Asian markets while facing regulatory challenges in the U.S.

Bitcoin News - 1125 ngày trước

Crypto News

Bitcoin Open Interest Surges by $1.8 Billion as Price Breaks $27,000

Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.

newsbtc - 1072 ngày trước

Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 1072 ngày trước

Citigroup Leads the Way with Permissioned Blockchain for Institutions

Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.

Blockworks - 1072 ngày trước

Bitcoin Dominance Soars Above 50%, Emerging as the Crypto Safe Haven

Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.

U.Today - 1072 ngày trước

Animoca Game Studio Pioneers Bitcoin-Backed Metaverse Token, Ushering in Bitcoin's Next Phase

Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.

Bitcoin News - 1073 ngày trước