Monthly Archives: June 2021

Regulations drive Korean exchanges to delist, warn against high risk coins

Amid increasing scrutiny and demand from regulators, South Korean crypto exchanges are sifting through their supported assets and delisting or placing high-risk coins on an investor warning list. South Korea’s cryptocurrency market continues to transform under the weight of mounting regulatory pressures. Major crypto exchanges such as Upbit have this week moved to delist or warn against specific digital assets they have judged to be high-risk for investors.   The trend, as local reporters note, has seemingly been sparked by the increasing level of intervention by financial […]

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Defi Derivatives Exchange Dydx Raises $65 Million – Project Plans to ‘Launch a Mobile Application’

The decentralized exchange (dex) Dydx announced the organization has raised $65 million in a Series C funding round led by Paradigm. The Dydx announcement notes that the additional capital will be leveraged to “significantly improve liquidity” on the dex platform “through the volatility of the cryptocurrency markets.” Defi Exchange Dydx Raises $65 million from Strategic Investors On Tuesday, the Ethereum-based decentralized finance (defi) exchange Dydx revealed the project has raised $65 million in a Series C funding round. The round was led by Paradigm but funding also […]

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New Bitcoin bull market hodlers are refusing to sell at $40K, data suggests

Those who bought Bitcoin this bull market are in no hurry to sell, says Glassnode, as small-time investor numbers also grow. Bitcoin (BTC) investors continue to hodl BTC at $40,000, even if they bought it at lower levels earlier in 2021. In the latest edition of its newsletter, The Week On-Chain, on June 14, on-chain monitoring resource Glassnode revealed that buyers from the first months of this year’s bull market are refusing to cash out. “Very young” supply in decline Bitcoin has been marked by low volume […]

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Shiba Inu and Chiliz jump 33% and 26% on Coinbase Pro listings

Memes and fan tokens were the order of the day after a Coinbase Pro listing sent SHIB and CHZ to significant gains. The token prices of Shiba Inu (SHIB) and Chiliz (CHZ) jumped 33% and 26% respectively on Wednesday, following the announcement of the pair’s listing on Coinbase Pro. Inbound transfers for Shiba Inu and Chiliz were announced alongside Keep Network (KEEP) by Coinbase Pro on Tuesday, June 15. Trading is set to begin on Thursday, June 17, assuming liquidity conditions are met. The trading pairs will […]

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El Salvador minister says it’s too early to use Bitcoin for wages

It’s too soon to talk about Bitcoin-based wages in El Salvador, Minister Rolando Castro stated. El Salvador’s Minister of Labor and Social Welfare has said that the country is not yet ready to adopt Bitcoin (BTC) for salary payments. In a Wednesday tweet, Rolando Castro denied local reports which claimed that his ministry had begun analyzing the possibility of Bitcoin-based salaries with officials from the Ministry of Finance and the Ministry of Economy on Monday.  Castro stressed that he was just answering a question, stating that it was […]

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Crypto fan tokens a mixed bag for game-deprived soccer fans

The COVID-19 lockdown incentivized sporting organizations to adopt fan tokens, but how useful are they for supporters? Soccer fan tokens emerged as an offshoot of the tokenization craze in cryptocurrency sometime around 2019. Essentially acting as tokenized shares of influence, fan tokens give supporters of sports organizations the chance to take part in club polls, win unique prizes, and gain a small say in club decisions which are designed to spur increased fan engagement but are often only aesthetic in nature. But despite the seemingly superficial nature […]

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Hedge Funds Aim for $300 Billion in Crypto Assets Within 5 Years, Survey Shows

Hedge funds are likely to significantly increase their crypto holdings, a global poll of chief financial officers has indicated. According to an average figure based on their forecasts, the funds will keep more than 7% of assets in cryptocurrency within the next five years. Hedge Fund CFOs Expect Sizable Increase in Crypto Investments The survey, conducted among 100 CFOs around the world, signals that the hedge funds are planning to markedly expand their exposure to cryptocurrencies by 2026. Reuters described the poll results as a major vote […]

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98% of CFOs say their hedge fund will invest in Bitcoin by 2026: Study

The survey results coincide with U.S. inflation climbing to the highest levels since 1992. Traditional hedge funds are willing to increase their exposure in Bitcoin and other cryptocurrency markets over the next five years, a new survey has found. Intertrust Global — an international trust and corporate management company — polled the chief financial officers of 100 hedge funds globally about their intention to purchase crypto-assets. About 98% of them responded that they expect their hedge funds to invest 7.2% of their assets in cryptocurrencies by 2026. […]

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Crypto miners eye cheap power in Texas, but fears aired over impact on the grid

Miners dislocated by China’s crackdown are looking to Texas for cheap electricity, but the state’s grid is already on the brink of disaster amid a sweltering summer. The recent crackdown on crypto mining in China has seen concerns expressed over the potential impact a hashrate migration could have on Texas’ unreliable electricity market, as an increasing number of dislocated miners eye the Lone Star State. Texas’ abundant sources of renewable energy and highly deregulated power grid make the state an obvious choice for migrating miners from China […]

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Michael Saylor is not just a Bitcoin maximalist: ‘There’s a place for everybody’

The MicroStrategy CEO sees Ethereum as a serious competitor to the financial industry. MicroStrategy chief Michael Saylor has room in his heart for other cryptocurrencies aside from Bitcoin, the billionaire revealed on an episode of CNBC’s Fast Money, in which he aired his views on the industry and where he sees things going in the future. In the interview with CNBC’s senior retail reporter Courtney Reagan on Tuesday, Saylor was initially asked why the software firm keeps buying BTC. The question referred to the company’s June 14 […]

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