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Showing posts from October, 2023

Bittrex's U.S. Liquidation Plan Approved

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Cryptocurrency exchange Bittrex has successfully received court endorsement for its updated bankruptcy plan, leading to the cessation of its operations in the United States. Legal documents reveal that on Monday, in a Delaware court, Judge Brendan Shannon gave the green light for the company’s liquidation strategy, designed to settle outstanding debts with remaining creditors. “The Court has decided to issue a revised Proposed Order, addressing the informal remarks from the SEC, as was verbally communicated during the Hearing,” the court filing articulated. Bittrex found itself in a precarious position, filing for Chapter 11 bankruptcy protection in May, following allegations from the Securities and Exchange Commission (SEC) of operating an unlicensed exchange. By August, Bittrex reached a settlement with the SEC, agreeing to a Read more about Bittrex's U.S. Liquidation Plan Approved #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulations

Japan Freezes Assets Linked to Hamas

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The Japanese government has acted decisively, freezing the assets of nine individuals associated with Hamas and a cryptocurrency trading firm implicated in funding the terrorist group. This resolution was adopted during a cabinet meeting held on October 31st, as reported by Yonhap News. Hamas, recognized as a Palestinian militant and political group, has been locked in a protracted conflict with Israel. Japan's Prime Minister, Fumio Kishida, has categorically denounced their activities as terrorism. The sanctions imposed by Japan are effective immediately, with the primary aim of disrupting Hamas's financial support. During a press conference, Hirokazu Matsuno, the Chief Cabinet Secretary, underscored the Japanese government’s unwavering commitment to obstructing the financing of terrorism. Japan's swift response mirrors r Read more about Japan Freezes Assets Linked to Hamas #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulations

dYdX Foundation Launches Mainnet and Introduces New Bridge User Interface

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The dYdX Foundation has made public the initiation of its primary network and a novel interface for Bridge Users. The dYdX Foundation has unveiled a collection of critical updates, marking a transformative moment in the dYdX ecosystem’s journey. The most notable development is the official activation of the dYdX Chain’s mainnet, featuring the participation of Genesis Validators in the creation of its inaugural block. This announcement closely follows the Oct. 24 release of the dYdX Chain’s open-source software and the introduction of a fresh Bridge User Interface.This Bridge User Interface facilitates the movement of DYDX tokens from the Ethereum network to the dYdX Chain, thereby broadening the token’s practical applications. Users looking to make this switch can refer to the comprehensive bridging guide available on the dYdX websit Read more about dYdX Foundation Launches Mainnet and Introduces New Bridge User Interface #Bridge, #Cryptocurrency, #Cryptomarket, ...

CryptosRUs Shares Bullish Outlook on Bitcoin

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The crypto enthusiast CryptosRUs shared a positive perspective on Bitcoin's future during his live video stream on Oct. 30. He emphasized the optimistic technical and fundamental factors that support Bitcoin’s growth potential. Highlighting a major technical aspect, the YouTuber referred to the golden cross pattern on Bitcoin’s daily chart, asserting that this indicates a sustainable bull market for the leading cryptocurrency. A golden cross occurs when a short-term moving average climbs above a long-term moving average, marking the beginning of an upward trend. He expressed his belief that this golden cross phenomenon might persist up until 2025, taking historical trends into account. Furthermore, he discussed the possibility of Bitcoin swiftly surpassing the $35,000 mark. He mentioned that surpassing this threshold could pot Read more about CryptosRUs Shares Bullish Outlook on Bitcoin #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News

Upcoming economic events 31 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:302 pointsChinese Composite PMI (Oct)---------52.001:303 pointsManufacturing PMI (Oct)50.250.201:302 pointsNon-Manufacturing PMI (Oct)51.851.702:302 pointsBoJ Monetary Policy Statement  ------------------03:002 pointsBoJ Interest Rate Decision-0.10%-0.10%06:302 pointsBoJ Press Conference------------------10:002 pointsCore CPI (YoY) 4.2%4.5%10:002 pointsCPI (MoM)---------0.3%10:003 pointsCPI (YoY) (Oct)3.2%4.3%10:002 pointsGDP (YoY) (Q3)0.2%0.5%10:002 pointsGDP (QoQ) (Q3)0.0%0.1%12:302 pointsEmployment Cost Index (QoQ) (Q3)1.0%1.0%13:002 pointsS&P/CS HPI Composite - 20 n.s.a. (YoY) (Aug)1.6%0.1%13:002 pointsS&P/CS HPI Composite - 20 n.s.a. (MoM) (Aug)---------0.6%13:452 pointsChicago PMI (Oct)45.044.114:003 pointsCB Consumer Confidence (Oct)100.0103.016:302 pointsECB's De Gu Read more about Upcoming economic events 31 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

El Salvador: Bukele for President Again?

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Nayib Bukele, the President of El Salvador, has officially submitted his candidacy for re-election in the forthcoming presidential election slated for February 2024. Bukele, a staunch supporter of Bitcoin, garnered substantial backing from the populace on October 26, following his formal endorsement by his political party, New Ideas, to vie for a second term. Addressing a massive crowd of Salvadorans, Bukele expressed his desire for an additional five years in office, stating, “Five more [years], five more and not a single step backward. We require another five years to continue our progress in bettering our nation.” Bukele first ascended to the presidency in 2019, leading the New Ideas party to break a thirty-year stranglehold on power held by the Nationalist Republican Alliance and the Farabundo Martí National Liberation Fron Read more about El Salvador: Bukele for President Again? #Blockchain, #Cryptocurrency, #Cryptonewstoday, #Ethereum, #Regulations

USDT Dominates Brazilian Cryptocurrency Market, Accounting for 80% of Transactions in 2023

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The adoption of Tether (USDT), a stablecoin, has substantially increased in Brazil, comprising 80% of the country’s cryptocurrency transactions in 2023. According to data provided by the Brazilian revenue service, USDT transactions in Brazil reached 271 billion Brazilian reais (approximately $55 billion) by mid-October. This is nearly twice the volume of Bitcoin transactions in the country, which totaled 151 billion reais (around $30 billion). Stablecoins like USDT are cryptocurrencies designed to maintain a stable value, typically pegged to fiat currencies like the U.S. dollar or the Brazilian real. The rising popularity of USDT in Brazil began in 2021, surpassing Bitcoin in transaction volume for the first time in July 2022, during a tumultuous period for the crypto industry marked by the collapse of major crypto lenders Three A Read more about USDT Dominates Brazilian Cryptocurrency Market, Accounting for 80% of Transactions in 2023 #Brazil, #Brazilia, #Cryptocurrency, #Cryptom...

PEPE Takes the Lead in a Week of Gains

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Throughout the previous week, a variety of tokens demonstrated an upward trajectory, with the meme coin Pepe (PEPE) stealing the spotlight. Amidst the recent fluctuations in the cryptocurrency market, driven by rumors surrounding the potential approval of a Bitcoin spot ETF, PEPE garnered attention by announcing its decision to burn tokens worth over $5.5 million. This strategy resulted in an impressive 30% surge in its price within a single day, elevating PEPE to its highest point in two months. The increase in value, amidst speculations of a Bitcoin spot ETF approval, signifies a notable boost for PEPE and suggests a possible resurgence in the altcoin market. Crypto market tracker CoinGecko reveals that PEPE’s price soared by an impressive 56.5% over the past week. Nevertheless, its current price stands at $0.00000115, marking a Read more about PEPE Takes the Lead in a Week of Gains #Altcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #MemeCoin, #News, #PEPE

Upcoming economic events 30 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious00:302 pointsRetail Sales (MoM) (Sep) 0.3%0.2%13:002 pointsECB's De Guindos Speaks ------------------18:302 pointsECB's Enria Speaks  ------------------23:502 pointsIndustrial Production (MoM) (Sep)  2.5%-0.7% Read more about Upcoming economic events 30 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

BNBChain Introduces BNB SafeWallet

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BNBChain has unveiled its secure multi-signature wallet service, BNB SafeWallet, which operates on the BSC network and opBNB, and is built upon the Gnosis Safe protocol. In a blog post, BNBChain highlighted the introduction of Gnosis Safe Multisig to the Binance Smart Chain as a significant advancement in fortifying the security of the BSC network and its surrounding ecosystem. Gnosis Safe is a smart contract-based wallet featuring essential multisig capabilities, which empower users with sophisticated execution logic, access control, and robust security. This protocol enables the support of various wallets, which can be managed by single or multiple entities to augment wallet security. BNBChain’s SafeWallet, leveraging the Gnosis Safe protocol, offers a secure storage solution for digital assets. Users are given the a Read more about BNBChain Introduces BNB SafeWallet #Altcoin, #Blockchain, #BNBChain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations

Elon Musk's Ambitious Crypto Initiatives for Twitter

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Renowned crypto expert CryptosRUs has shared insights suggesting that Tesla and Twitter’s CEO Elon Musk is likely to unveil significant cryptocurrency-related projects in 2024. During a live session on October 27th, CryptosRUs hypothesized that Musk has plans to convert Twitter into a "financial application", potentially outperforming conventional banking systems while incorporating features for cryptocurrency transactions. Much of this speculation draws from a recent interview Musk gave, which was published by The Verge.Elon has just participated in an interview discussing his plans to transform X into a financial app by 2024. He spoke as if this transformation would revolutionize the entire landscape, encompassing everything from traditional fiat money to securities and even cryptocurrencies. In essence, his ambition is to e Read more about Elon Musk's Ambitious Crypto Initiatives for Twitter #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #ElonMusk, #Twitter, #X

Blockchain Fullness Linked to Enhanced Security and Bitcoin Price

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The study establishes a direct link between the "fullness" of a blockchain and its security level. A team of researchers from Florida Atlantic University and the University of Mississippi has shared insights through a study indicating that blockchains with "full" blocks, particularly when transactions are waiting in queue, seem to offer an additional layer of security against malicious actors, money laundering activities, and potential fraud attempts. Titled "Bitcoin Blocksize, Custodial Security, and Price," the research paper delves into various cases including the Mt. Gox crash and other incidents where cryptocurrencies were unlawfully taken from exchanges. The foundational idea of the study is that those engaging in illicit activities are in a hurry to process their laundering transactions as swiftly as possible. The paper Read more about Blockchain Fullness Linked to Enhanced Security and Bitcoin Price #Bitcoin, #Cryptocurrency, #Cryptomarket, #Crypto...

Unlocking Potential: Solana’s Blockchain Incubator

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On October 26, Solana Labs unveiled a brand-new incubator initiative aimed at fostering the growth of projects on the Solana blockchain. Named the Solana Incubator, the program promises to extend a comprehensive range of services including fundraising assistance, developmental aid, networking opportunities, and marketing support to web and blockchain projects aspiring to develop on the Solana platform. Prospective participants have until November 30th to submit their applications for the Solana Incubator. Those selected will benefit from the expertise and support of the Solana Labs team and its affiliates throughout the various phases of their projects, encompassing development, marketing, and launch. The initiative will also grant teams privileged access to prominent venture capitalists within the Solana Labs network, aiding these Read more about Unlocking Potential: Solana’s Blockchain Incubator #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Reg...

Justin Sun Group Reports 14% Revenue Growth, Foresees Promising Q4

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The Justin Sun Group, comprising TRON, HTX, Poloniex, and TUSD, has announced a 14% surge in their earnings compared to the previous quarter. Sun interprets the consistent increase in revenue amidst challenging conditions as a positive indicator for an even more prosperous fourth quarter, as the market begins to show recovery signals.In an update posted on platform X, dated October 26, Sun revealed that the group's actual revenue for the third quarter of 2023 reached $202 million, with profits approximated at $98 million. Drawing from these figures, the group now anticipates revenues for the upcoming quarter to be around $190 million, potentially resulting in profits of $104 million. Sun maintains an upbeat outlook for the fourth quarter, despite the third quarter facing significant industry challenges, including the impact of Read more about Justin Sun Group Reports 14% Revenue Growth, Foresees Promising Q4 #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptone...

Strengthening Crypto Regulation in the UK: The Economic Crime and Corporate Transparency Bill

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The United Kingdom has progressed in refining its cryptocurrency regulations through the introduction of the Economic Crime and Corporate Transparency bill, escalating its efforts to eradicate financial wrongdoings while aiming to preserve a welcoming attitude towards crypto. Today marks a significant milestone for the United Kingdom in its crusade against economic misdemeanors with the adoption of the Economic Crime and Corporate Transparency bill. Effortlessly aligning with the Proceeds of Crime Act 2002, this piece of legislation enhances the powers of authorities to rigorously pursue cryptocurrencies suspected of involvement in illicit endeavors, spanning from money laundering to drug trafficking. The bill's advancement to its concluding phases in September and its forthcoming Royal Assent—where it is anticipated that King Read more about Strengthening Crypto Regulation in the UK: The Economic Crime and Corporate Transparency Bill #Cryptocurrency, #Cryptomarket, #Cryptonewstod...

Upcoming economic events 27 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious00:302 pointsPPI (QoQ) (Q3)0.7%0.5%00:302 pointsPPI (YoY) (Q3)---------3.9%10:002 pointsEU Leaders Summit  ------------------12:303 pointsCore PCE Price Index (YoY) (Sep)3.7%3.9%12:303 pointsCore PCE Price Index (MoM) (Sep)0.3%0.1%12:302 pointsPCE Price index (YoY) (Sep)3.4%3.5%12:302 pointsPCE price index (MoM) (Sep)0.3%0.4%12:302 pointsPersonal Spending (MoM) (Sep)0.5%0.4%14:002 pointsMichigan 1-Year Inflation Expectations (Oct)3.8%3.2%14:002 pointsMichigan 5-Year Inflation Expectations (Oct)3.0%2.8%14:002 pointsMichigan Consumer Expectations (Oct)60.766.014:002 pointsMichigan Consumer Sentiment (Oct)63.068.117:002 pointsU.S. Baker Hughes Oil Rig Count---------50217:002 pointsU.S. Baker Hughes Total Rig Count---------62420:302 pointsCFTC Crude Oil speculative net Read more about Upcoming economic events 27 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

SHIBA's Wild Ride: From 3,000% Surge to 84% Plunge

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A new meme-inspired cryptocurrency named Shiba ($SHIBA), which has self-dubbed itself as the “Birth of a New King,” experienced a staggering 3,000% increase in its price earlier this month. However, it has since plummeted, now sitting at an 84% decrease from its all-time high. Etherscan, the Ethereum blockchain explorer, reveals that although SHIBA is not available on centralized crypto trading platforms such as Coinbase and Binance, it has garnered significant trading volume, reaching almost $250,000 million within a 24-hour span on Uniswap, a well-known decentralized exchange. CryptoGlobe reported the surge in SHIBA’s price earlier this month, linking the price hike to the token’s low liquidity. Ethereum blockchain data indicates that SHIBA has been part of 28,200 transactions and is held by 2,047 owners. The cryptocurrency h Read more about SHIBA's Wild Ride: From 3,000% Surge to 84% Plunge #Adoption, #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cry...

Amazon, Nvidia, Meta: Analyzing the Downturn in Tech Stocks

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The "magnificent seven" tech giants have seen a staggering $280 billion erased from their collective market value after a series of earnings reports were released on October 25, sparking concerns about a potential downturn in the tech sector. The "magnificent seven" refers to the major blue-chip tech companies, namely Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla, which together constitute a quarter of the S&P 500 index’s total value. Alphabet, the parent company of Google, experienced a dramatic 9% drop in its stock price, erasing $180 billion from its market capitalization. This marked Google's worst performance since the onset of the COVID-19 pandemic in March 2020. Looking at the share price movements of Alphabet Inc Class A over the last five days from Google Finance data: The stocks of Amazon, N Read more about Amazon, Nvidia, Meta: Analyzing the Downturn in Tech Stocks #Adoption, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewsto...

Counterfeit Linea Token Project Defrauds Users of Nearly $743,000

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A recent fraudulent scheme involving a counterfeit Linea token project has resulted in users losing several thousands of dollars. Certik, a blockchain security analyst, has unveiled a new instance of a rug pull scam, highlighting a bogus Linea token project that deceived users, stripping them of approximately $743,000. The victims have reported suspicions that a Russian individual using the alias ‘AltLex’ may be behind the scam, actively promoting the token across various social media platforms. It is believed that the scammer employed a honeypot strategy to divert users from the authentic Linea token, which operates as an Ethereum scaling network. Following the scam, the entire sum was transferred to the cryptocurrency mixer Tornado Cash, which has recently come under fire for allegedly facilitating money laundering activities for c Read more about Counterfeit Linea Token Project Defrauds Users of Nearly $743,000 #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Linea, #Ne...

Record-Breaking $84 Billion: Tether (USDT) Market Capitalization Soars

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Tether (USDT), a leading stablecoin, has seen its market capitalization surge to an unprecedented $84 billion, thanks to the ongoing cryptocurrency rally. This week, Tether (USDT) set a new record by surpassing $84 billion in market capitalization, influenced by positive sentiments surrounding the anticipated launch of a Bitcoin spot ETF. The volatile market conditions, characterized by sharp price increases, resulted in the liquidation of numerous short derivative positions, prompting investors to seek refuge in Tether for its stability and to maintain liquidity in the unpredictable crypto market. As a result, Tether is poised for a promising fourth quarter. In preparation for a change in leadership scheduled for December, Tether Holdings is positioning itself for a strong finish to the year. Paolo Ardoino, an Italian software Read more about Record-Breaking $84 Billion: Tether (USDT) Market Capitalization Soars #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations, #T...

Upcoming economic events 26 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious10:002 pointsEU Leaders Summit  ------------------12:153 pointsDeposit Facility Rate (Oct)4.00%4.00%12:152 pointsECB Marginal Lending Facility---------4.75%12:152 pointsECB Monetary Policy Statement  ------------------12:153 pointsECB Interest Rate Decision (Oct)4.50%4.50%12:303 pointsCore Durable Goods Orders (MoM) (Sep)0.2%0.4%12:302 pointsDurable Goods Orders (MoM) (Sep)1.5%0.2%12:303 pointsGDP (QoQ) (Q3)  4.2%2.1%12:302 pointsGDP Price Index (QoQ) (Q3)  2.5%1.7%12:302 pointsGoods Trade Balance (Sep)  -85.50B-84.64B12:303 pointsInitial Jobless Claims209K198K12:302 pointsRetail Inventories Ex Auto (Sep)  ---------0.5%12:453 pointsECB Press Conference------------------13:002 pointsFed Waller Read more about Upcoming economic events 26 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Coinbase to SEC: Let Congress Decide

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Coinbase, a top global crypto exchange, is once again butting heads with the U.S. Securities and Exchange Commission (SEC) about what exactly defines a security. Coinbase argues that the SEC is overreaching with its current view. At the heart of the issue is the SEC's opinion. They think that if someone buys something hoping its value will go up, it's essentially an investment contract, and therefore, a security. Coinbase says this viewpoint stretches the traditional understanding of securities laws way too far. The main point Coinbase is making is about who gets to decide. They believe that such a broad definition of securities shouldn't just be up to the SEC. Any major changes to securities laws should come from Congress, making sure it's in line with the bigger picture they have in mind. This back-and-forth between Coinbase Read more about Coinbase to SEC: Let Congress Decide #Adoption, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum

BlockFi Emerges from Bankruptcy and Opens Withdrawals for Global Users

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BlockFi has revealed that withdrawal requests are now open for both domestic and global users. On October 24, a blog post confirmed that BlockFi, a crypto lending entity, has successfully navigated its way out of bankruptcy and is poised to repay some of its debtors. The post clarified that most Wallet clients can presently withdraw their funds, with BlockFi Interest Account (BIA) and Loan customers anticipated to gain similar access in early 2024. Emerging from bankruptcy positions BlockFi to reclaim assets from businesses it deems in debt to them, such as bankrupt crypto entities like Three Arrows Capital ("3AC") and FTX. Additionally, this progress allows the firm to keep disbursing funds to its creditors and to manage claims. Wallet users holding assets on BlockFi have been advised to use the app for withdrawal requests, Read more about BlockFi Emerges from Bankruptcy and Opens Withdrawals for Global Users #Blockchain, #BlockFi, #Cryptocurrency, #Cryptomarket, #Cryptonews...

Euroclear and World Bank Launch Groundbreaking €100 Million Digital Bond

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Euroclear, in collaboration with the World Bank, has introduced a groundbreaking tokenized securities issuance service. This move was inaugurated by a digital bond worth €100 million ($106 million), as announced on Tuesday. Euroclear's Digital Securities Issuance (D-SI) division is leading this innovation, enabling the creation, dispersal, and conclusion of completely digitalized financial assets via distributed ledger technology (DLT). DLTs stand out due to their design, permitting each network member, or node, to independently manage and update a database. The bond, issued by the World Bank Group's International Bank for Reconstruction and Development (IBRD), is geared towards funding sustainable development projects. Its listing on the Luxembourg Stock Exchange demonstrates its relevance in established financial arenas. For Read more about Euroclear and World Bank Launch Groundbreaking €100 Million Digital Bond #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Euroclear,...

Upcoming economic events 25 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious00:302 pointsCPI (YoY) (Q3)5.3%6.0%00:302 pointsCPI (QoQ) (Q3)1.1%0.8%00:302 pointsTrimmed Mean CPI (QoQ) (Q3)1.1%0.9%12:003 pointsBuilding Permits1.473M1.541M12:002 pointsBuilding Permits (MoM)-4.4%6.8%14:003 pointsNew Home Sales (Sep)680K675K14:002 pointsNew Home Sales (MoM) (Sep)----------8.7%14:303 pointsCrude Oil Inventories-0.500M-4.491M14:302 pointsCushing Crude Oil Inventories----------0.758M17:002 points5-Year Note Auction---------4.659%17:002 pointsECB President Lagarde Speaks  ------------------20:353 pointsFed Chair Powell Speaks------------------22:002 pointsRBA Assist Gov Kent Speaks------------------ Read more about Upcoming economic events 25 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Altman's Vision: AI's Journey to Intuition and Reason

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Do machines have the potential to match the diverse intelligence of humans? OpenAI suggests they're getting closer with their latest language model, GPT-3. In a chat with The Wall Street Journal, OpenAI's CEO, Sam Altman, provided his perspective on AI's future direction. "AI models might need less data in the future and could concentrate more on their ability to reason," Altman shared. He hints that the next phase for AI might resemble human-like thinking and intuition. The ultimate AI—one that boasts the flexibility and practicality of a human—is termed Artificial General Intelligence (AGI). Altman describes it as "a system that can work across many areas equivalent to human tasks." OpenAI is so committed to achieving AGI that they've realigned their mission and values towards it. The introduction of ChatGPT was a gam Read more about Altman's Vision: AI's Journey to Intuition and Reason #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewst...

Unmasking the Details: What the Court Seeks from ZachXBT

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Crypto sleuth ZachXBT recently announced on social media that his X account, along with several others, was slapped with a court subpoena asking for more details, though the reasons weren't clear. On October 21, he posted a couple of images about this legal notice. The first image showed what the court was asking for, while the second was a heads-up to the social media platform about the legal ask. The list of what the court's after is pretty long, including names, bills, IP addresses, phone numbers, detailed texts, and even when people logged on and off. But ZachXBT mentioned that the request was so wide-ranging that X might only be able to give some of the info, especially since it doesn't seem directly related to his account. Some folks on X have been buzzing that maybe ZachXBT will be called to testify in court, but Read more about Unmasking the Details: What the Court Seeks from ZachXBT #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Regulatio...

AI's Surge: A Double-Edged Sword for the U.S. Economy

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In a time when technology's rapid growth takes center stage, AI stands out both as a symbol of progress and a catalyst for economic inequality in the U.S. Over the last five years, there's been a massive 266% uptick in AI use, pushing a team of economists to study its effects more closely. Using a detailed survey from 2018 that covered almost half a million companies, they provide a multi-faceted view of the country's AI environment. This research, shared through the National Bureau of Economic Research, breaks down the AI-driven economy, zeroing in on five core technologies: self-driving cars, machine learning, machine vision, natural language processing, and voice recognition. Back in 2018, less than 6% of companies used these innovations. However, the number soared among bigger companies, especially the giants with more than Read more about AI's Surge: A Double-Edged Sword for the U.S. Economy #Adoption, #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Crypton...

Digital Yuan Used in Major Oil Deal

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Last week saw significant advancements in CBDC usage and the shift away from the U.S. dollar when a 1-million-barrel oil transaction took place on the Shanghai Petroleum and Natural Gas Exchange. The landmark event marked the first time the digital yuan was employed to settle an oil deal. On October 19, PetroChina International made the purchase, acting on encouragement from the Shanghai government to incorporate China's digital currency in global trade. This move was hailed by China Daily as a significant progression for the e-CNY. While the seller and transaction rate remain undisclosed, for reference, the cost of oil from the consortium of 13 producers in OPEC stood at $95.72 per barrel on the same day. This crude transaction is emblematic of the rising prominence of the yuan in the global market and the broader trend of Read more about Digital Yuan Used in Major Oil Deal #Adoption, #Bitcoin, #Blockchain, #China, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulati...

SEC's Ambiguity on Bitcoin ETF Approval

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In light of Commissioner Hester Peirce expressing doubts about the SEC's reasoning for not approving a Bitcoin ETF, John E Deaton, an attorney at Crypto-Law US, offers insights into the implications for the general public. There's a potential that we might see an approval either by the end of this year or, at the latest, by the end of the first three months of 2024. Commissioner Hester Peirce voiced her reservations concerning the SEC's schedule for giving a nod to a Bitcoin spot fund. Being a strong supporter of the spot Bitcoin ETF, Peirce emphasized that although the ongoing lawsuit plays a pivotal role, she finds it challenging to gauge the viewpoint of her fellow commissioners.She remarked, “Understanding the reasons for our delay in approving a Bitcoin ETF eludes me. While the legal proceedings do play a role, speculating o Read more about SEC's Ambiguity on Bitcoin ETF Approval #Bitcoin, #BitcoinETF, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, ...

Upcoming economic events 24 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious00:302 pointsau Jibun Bank Japan Services PMI  ---------53.805:002 pointsBoJ Core CPI (YoY)3.3%3.3%08:002 pointsRBA Assist Gov Bullock Speaks  ------------------08:002 pointsHCOB Eurozone Manufacturing PMI (Oct)  43.743.408:002 pointsHCOB Eurozone Composite PMI (Oct)  47.447.208:002 pointsHCOB Eurozone Services PMI (Oct)  48.648.712:302 pointsECB President Lagarde Speaks------------------13:452 pointsS&P Global US Manufacturing PMI (Oct) 49.549.813:452 pointsS&P Global Composite PMI (Oct)---------50.213:453 pointsS&P Global Services PMI (Oct) 49.950.117:002 points2-Year Note Auction---------5.085%20:302 pointsAPI Weekly Crude Oil Stock----------4.383M Read more about Upcoming economic events 24 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Banking's Profitable Decade: Interest Rate's Role

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McKinsey recently reported that banks are seeing their biggest profits in ten years. This boom in profits, they claim, is largely thanks to the increase in interest rates. This increase enabled banks to earn more from loans and mortgages, bumping up the global banking profits by about $280 billion. To break it down: In the US, there was a significant 500-basis-point jump in interest rates. This change meant banks could improve their net interest margins, leading to the banking sector's profits rising to $280 billion in 2022. This improvement also increased the return on equity (ROE) to 12% in 2022 and it's expected to reach 13% in 2023. To give a comparison, the average ROE since 2010 has been only 9%. Looking at the numbers, McKinsey pointed out that the banking sector's net earnings surged from $1 trillion in 2021 to $1.3 Read more about Banking's Profitable Decade: Interest Rate's Role #Adoption, #Altcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethere...

Deaton Voices Concerns Over Lightning Network Security

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John Deaton has expressed concerns over potential vulnerabilities in the Bitcoin Lightning Network's code. An advocate for cryptocurrency and attorney by profession, Deaton has previously voiced his preference for the "Spend The Bits" protocol on the XRP Ledger (XRPL) over the Lightning Network. The latter serves as a second-layer scaling solution intended to enhance Bitcoin's scalability by facilitating off-chain transactions directly between users. On October 21, via a post on platform X (previously known as Twitter), Deaton disclosed his role as both an angel investor in Spend the Bits and its principal legal advisor. He has, in the past, championed Spend The Bits as a safer option than the Lightning Network for Bitcoin transactions. His disclosure came conveniently around the same time an online cryptocurrency investigator, Read more about Deaton Voices Concerns Over Lightning Network Security #BTC, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #LightningNetwo...

Coinbase's Paul Grewal Foresees Imminent SEC Approval for Bitcoin ETF

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Coinbase's top legal executive, Paul Grewal, anticipates that the U.S. Securities and Exchange Commission (SEC) will shortly greenlight a Bitcoin exchange-traded fund (ETF). He shared his confidence with CNBC, predicting the imminent approval of a U.S. Bitcoin ETF. This statement follows a major judicial ruling indicating that the SEC lacked valid reasons to refuse Grayscale's proposal to convert its GBTC Bitcoin fund into an ETF. The SEC chose not to contest this decision, leading many to believe that the nod for Bitcoin ETFs may be close at hand. Despite existing legal challenges associated with Grayscale's parent entity, Digital Currency Group, and the Gemini crypto platform, Grewal remains positive on more Bitcoin ETFs gaining approval. He didn't specify a timeline for such endorsements but emphasized that the commission would Read more about Coinbase's Paul Grewal Foresees Imminent SEC Approval for Bitcoin ETF #Bitcoin, #BitcoinETF, #Coinbase, #Cryptocurrency, ...

Moynihan Predicts U.S. Economic Slowdown

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Brian Moynihan, the head honcho at Bank of America, predicts a slowdown in the U.S. economy by mid-next year. In a chat with Fox Business, he mentioned that, based on their in-house research, the Federal Reserve might start slashing interest rates sometime between the middle and end of next year. Delving deeper, Moynihan described this as a potential "soft landing." But he also threw in a word of caution, hinting at the potential for geopolitical disruptions if the Fed's measures turn out to be overly aggressive. He shed light on the ripple effect of interest rate hikes on both consumers and businesses. Just to give a sense of scale, the Federal Reserve has bumped up its principal interest rate 11 times since the previous March, taking it to a peak not seen in over two decades. Not forgetting inflation, he pointed to the recent Read more about Moynihan Predicts U.S. Economic Slowdown #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulati...

Sensei Inu's Innovative Leap

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Drawing significant attention, Sensei Inu's presale stands out with its novel strategy. Unlike typical meme coins and presales, this project offers something truly distinct. The limelight on Sensei Inu’s presale has intensified, warranting further scrutiny from the market's key players. This initiative aspires to narrow the wealth disparity, emphasizing intelligence and skills rather than just digital assets. Multiple elements have heightened interest in Sensei Inu's presale. The "Proof of Value" concept aims to level the playing field in wealth accumulation by rewarding participants for their crypto expertise, fostering a sense of inclusiveness. The presale goes a step further by urging active involvement via Crypto Trivia games, transcending mere token acquisitions. With its tokenomics structure that incorporates c Read more about Sensei Inu's Innovative Leap #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #Inu, #News, #Re...

Mysterious Withdrawals Rock Wells Fargo Accounts

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Customers of one of the major U.S. banks, Wells Fargo, have reportedly noticed unexpected withdrawals from their accounts. This issue, labeled as “debit card pending correction,” started making rounds on social media about a week ago, with many raising concerns, according to WNCT, a CBS-affiliate. These mysterious deductions ranged from just a few dollars to several hundred, pushing some accounts into a deficit. A spokesperson for Wells Fargo explained that a technical hiccup was responsible and assured that the bank would be reversing these charges and any related fees. They stated, “A technical issue, which has now been fixed, caused delays in transaction postings for some. However, most of our customers were unaffected. Any related overdraft fees will be automatically refunded.” Notably, this marks the third instance this year Read more about Mysterious Withdrawals Rock Wells Fargo Accounts #Adoption, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cry...

Hong Kong Revises Digital Asset Guidelines

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On October 20, the Hong Kong Securities and Futures Commission (SFC) released new guidelines, replacing the January 2022 directive regarding digital asset activities. This move followed an uptick in queries from intermediaries about distributing such assets, which the SFC and the HKMA noted. Tracing back to 2018, the SFC set up regulations for digital assets, including a rule that primarily allowed the distribution of digital asset funds to "professional investors." However, a more diverse range of investment opportunities, catering to both retail and professional sectors, has since emerged. Hence, the SFC now allows its licensed digital asset platforms to cater to the general public. This also includes greenlighting public virtual asset futures ETFs in Hong Kong. In light of recent market trends and questions, both the SFC Read more about Hong Kong Revises Digital Asset Guidelines #Adoption, #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #...

Bitcoin and Blockchain's Potential to Revolutionize Capital Markets Explored at PlanB Conference

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During the PlanB conference in Lugano on Oct. 20, specialists deliberated on the potential of Bitcoin and blockchain to revolutionize conventional capital markets. Under the banner “Exploring the Future of Capital Markets: Your Second Layer,” the session brought together frontrunners from various Bitcoin and blockchain ventures, such as Blockstream, Sideswap, Setup Labs, and Stalker. The experts emphasized that Bitcoin, being decentralized, transparent, and adaptable, allows for direct P2P asset trades, encompassing stocks, bonds, derivatives, among others. This can eliminate the need for middlemen like stock exchanges, leading to reduced expenses and uncertainties. Scott Freeman, the mind behind Sideswap, believes that developing these Bitcoin-centric "capital markets" will amplify both activity and interest in the digital cur Read more about Bitcoin and Blockchain's Potential to Revolutionize Capital Markets Explored at PlanB Conference #Adoption, #Altcoin, #Bitcoin, #B...

Tether's New CEO, Paolo Ardoino, Announces Enhanced Transparency

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Tether's new leader has announced plans for an anticipated update next year. The company responsible for the stablecoin Tether will soon share live data about its reserves, addressing longstanding concerns from the cryptocurrency world. In a conversation with Bloomberg, Tether's freshly inaugurated CEO, Paolo Ardoino, mentioned intentions to unveil the firm's reserves in 2024, though he didn't specify when. Ardoino also emphasized Tether's goal to increase investments in technology. Additionally, he revealed discussions with regulatory bodies about Tether entering the green energy sector. Recently, in September 2023, Tether began the trial stage of Moria, a Bitcoin mining platform operating on a peer-to-peer model. Built on Tether's unique Holepunch tech, Moria aims to transform the way communication occurs in the Bitcoin Read more about Tether's New CEO, Paolo Ardoino, Announces Enhanced Transparency #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, ...

ChatGPT, Anthropic & the New Age of AI

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Wow, things have taken quite the turn in the tech world! PitchBook just dropped some data that's honestly a bit shocking. While startup funding in general has plummeted by a hefty 31%, AI companies are not just surviving but thriving! In the third quarter alone, a whopping $17.9 billion was invested in AI startups worldwide – that’s a 27% jump from last year. But this AI success has kind of overshadowed the challenges the rest of the tech sector is facing post-pandemic and with those rising interest rates. What's causing all this buzz around AI? It's the rise of generative AI tech. This tech can whip up lifelike images and produce text that sounds just like us humans. It's blown both users and investors away. In fact, it's getting love (and dollars) much like the internet did when it first came on the scene. Think about how acc Read more about ChatGPT, Anthropic & the New Age of AI #Adoption, #Altcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoda...

Grayscale Pursues Bitcoin ETF Conversion, Prompted by Recent Court Ruling

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Investment behemoth Grayscale has submitted a fresh filing to the U.S. Securities and Exchange Commission (SEC) as part of its persistent efforts to transform its Grayscale Bitcoin Trust into a Bitcoin ETF. The Block reports that this move follows closely after the D.C. District Court's decision, instructing the regulatory body to reevaluate Grayscale's proposal. Grayscale opted for the S-3 filing, a more concise alternative to the usual S-1 filing for proposing new shares. This occurs as other leading financial institutions, like BlackRock and Fidelity, are also in pursuit of the SEC's nod for Bitcoin ETFs. Grayscale clarified its eligibility to utilize Form S-3, given that since January 2020, its shares have been registered under the Securities Exchange Act of 1934, satisfying other necessary criteria. GBTC plans to Read more about Grayscale Pursues Bitcoin ETF Conversion, Prompted by Recent Court Ruling #Altcoin, #Bitcoin, #BitcoinETF, #Blockchain, #Cryptocurrency, #Cryp...

Upcoming economic events 20 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious01:152 pointsPBoC Loan Prime Rate---------3.45%12:302 pointsECB McCaul Speaks  ------------------13:002 pointsFOMC Member Harker Speaks ------------------17:002 pointsU.S. Baker Hughes Oil Rig Count---------50117:002 pointsU.S. Baker Hughes Total Rig Count---------62220:302 pointsCFTC Crude Oil speculative net positions---------322.0K20:302 pointsCFTC Gold speculative net positions---------71.4K20:302 pointsCFTC Nasdaq 100 speculative net positions---------7.8K20:302 pointsCFTC S&P 500 speculative net positions----------94.4K20:302 pointsCFTC AUD speculative net positions----------76.6K20:302 pointsCFTC JPY speculative net positions----------99.5K20:302 pointsCFTC EUR speculative net positions---------75.5K Read more about Upcoming economic events 20 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Stéphanie Cabossioras Departs Binance's French Helm

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Stéphanie Cabossioras Steps Down from Binance's French Division Amidst Growing Regulatory Pressure Stéphanie Cabossioras has stepped down from her role as the Head of Binance's French operations, adding to the growing list of top executives leaving the prominent cryptocurrency platform this year. Before joining Binance in 2022, Cabossioras held a significant position at the French market authority. Her journey with Binance began as the regional legal chief, ultimately rising to oversee the French division. Her leadership at Binance coincided with the company's move to establish its European hub in Paris. Binance's European Regulatory ChallengesRecently, Binance has been under the microscope of regulatory agencies, especially in France. In June, the crypto behemoth came under investigation in the country for potentially providing u Read more about Stéphanie Cabossioras Departs Binance's French Helm #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstod...

Basel Banking Oversight Committee Charts Course for Crypto Disclosures by 2025

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The Basel Banking Oversight Committee (BBOC) has rolled out unified disclosure blueprints for leading banks concerning their crypto holdings, with a target deployment by 2025. On October 18, the Basel Banking Oversight Committee (BBOC), a conglomerate of global banking watchdogs, introduced preliminary protocols bridging the gap between conventional finance and digital currencies. They urge premier banking entities to unveil their crypto dealings by the stipulated 2025 deadline. BBOC is confident that uniform disclosure designs will ensure seamless data interchange among banks. This uniformity stands to favor banks and also offers a transparent lens for market players to perceive banks' crypto endeavors. As per the newly introduced protocols, banks are mandated to share descriptive insights into their crypto-based operations. Read more about Basel Banking Oversight Committee Charts Course for Crypto Disclosures by 2025 #Basel, #BaselBanking, #Cryptocurrency, #Cryptomarket, #Crypton...

Upcoming economic events 19 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious00:302 pointsEmployment Change (Sep)---------64.9K00:302 pointsFull Employment Change (Sep)---------2.8K00:302 pointsUnemployment Rate (Sep)---------3.7%12:303 pointsInitial Jobless Claims---------209K12:303 pointsPhiladelphia Fed Manufacturing Index (Oct)-6.8-13.512:302 pointsPhilly Fed Employment (Oct)----------5.714:003 pointsExisting Home Sales (Sep)3.94M4.04M14:002 pointsExisting Home Sales (MoM) (Sep)----------0.7%16:003 pointsFed Chair Powell Speaks  ------------------20:302 pointsFed's Balance Sheet---------7,952B21:302 pointsFOMC Member Harker Speaks  ------------------23:302 pointsNational Core CPI (YoY) (Sep)2.7%3.1% Read more about Upcoming economic events 19 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS

Business-Friendly AI: Southeast Asia's Approach

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Southeast Asia plans to take a more relaxed approach to AI regulation, contrasting Europe's strong push for a global standard, according to a recent report. The Association of Southeast Asian Nations (ASEAN) has crafted an "AI ethics and governance guide" to outline this stance. Their plan focuses on business-friendly rules to boost the area's AI growth as its usage increases. While many areas seek a unified approach to tech regulations, ASEAN's strategy is different. Europe, especially through the EU's AI Act, has been championing a universal method. Notably, European regulators have recently visited Southeast Asia promoting their view, which makes ASEAN's decision even more significant. ASEAN believes that each country should decide on AI regulations. The regional group, made up of 10 countries, will only give general Read more about Business-Friendly AI: Southeast Asia's Approach #Bitcoin, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum,...

South Korea's FSS to Bolster Crypto Regulations

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In June, South Korea's Virtual Asset User Protection Act was enacted, though it lacked a comprehensive set of regulations, remarked the leader of South Korea's Financial Supervisory Service (FSS). As per domestic news sources, the FSS is currently formulating supplementary rules for this act. These guidelines are expected to be unveiled by January, well in advance of the law's formal implementation. During an audit by the South Korean National Assembly Political Affairs Committee on October 17, FSS's chief, Lee Bok-hyeon, addressed concerns over South Koreans incurring losses from crypto "burger coins" – a colloquial term in Korea for foreign-issued cryptos traded domestically. As part of their commitment to refining the crypto space, the FSS plans to roll out standards encompassing the issuance, distribution, listing processes, and Read more about South Korea's FSS to Bolster Crypto Regulations #Adoption, #Altcoin, #Bitcoin, #Blockchain, #Cryptocurrency, ...

Reddit Closes Chapter on Blockchain-Driven Community Points

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Recently, Reddit made headlines by deciding to put an end to its blockchain-backed rewards initiative, Community Points. As initially reported by TechCrunch, the major barriers to this decision were the complexities of regulations and the hurdles of scalability. Introduced in 2020, the purpose of the Community Points initiative was to award and motivate user interactions in particular subreddits. These rewards were up for grabs for actions like securing significant upvotes on posts or comments, which fostered a positive community spirit. However, these points were not mere digital scores. They existed as ERC-20 tokens and were stored in Reddit’s exclusive cryptocurrency storage solution, the Reddit Vault. Holders of Community Points had the flexibility to utilize them in diverse ways, such as exchanging them for unique emojis or b Read more about Reddit Closes Chapter on Blockchain-Driven Community Points #Blockchain, #CommunityPoints, #Cryptocurrency, #Cryptomarket, #Cryptonewsto...

Upcoming economic events 18 October 2023

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Time(GMT+0/UTC+0)StateImportanceEventForecastPrevious02:002 pointsFixed Asset Investment (YoY) (Sep)3.2%3.2%02:002 pointsGDP (QoQ) (Q3)1.0%0.8%02:003 pointsGDP (YoY) (Q3)4.4%6.3%02:002 pointsChinese GDP YTD (YoY) (Q3)---------5.5%02:002 pointsIndustrial Production (YoY) (Sep)4.3%4.5%02:002 pointsChinese Industrial Production YTD (YoY) (Sep)---------3.9%02:002 pointsChinese Unemployment Rate (Sep)---------5.2%02:002 pointsNBS Press Conference  ------------------07:302 pointsECB's Elderson Speaks  ------------------09:002 pointsCore CPI (YoY) (Sep)4.5%5.3%09:002 pointsCPI (MoM) (Sep)0.3%0.5%09:003 pointsCPI (YoY) (Sep)4.3%5.2%12:302 pointsBuilding Permits (MoM) (Sep)  ---------6.8%12:303 pointsBuilding Permits (Sep)  1.450M1.541M12:302 pointsHousing Starts (MoM) (Sep)----------11.3%12:302 Read more about Upcoming economic events 18 October 2023 #ECONOMICEVENTS, #Forecast, #UPCOMINGEVENTS