Monthly Archives: June 2021

Binance to cease operations in Ontario following regulatory crackdown

Ontario’s crypto exchange crackdown continues as Binance plans to end operations Dec. 31, 20201. On the tails of a warning from Japanese regulators on Friday, Binance has announced in a short statement yesterday that it will cease providing services to users located in Ontario.  “As part of our continuing compliance efforts, Binance has updated its Terms of Use to provide that Ontario (Canada) has become a restricted jurisdiction, effective 2021-06-26 at 3:59:59 AM (UTC). Regrettably, Binance can no longer continue to service Ontario-based users. Ontario-based users are […]

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Bitcoin Is Our Best Shot At Decentralized Finance

The only way to actually accomplish decentralized finance is via structurally sound money. DeFi, a shortened version of the mouthful “decentralized finance”, is a hot buzzword these days. The term is often associated with crypto tokens and networks, as well as the applications built on top of them for lending, borrowing, asset trading and other financial contracts to be executed without intermediaries. Most of today’s financial contracts require central intermediaries which are arguably opaque by design and must be trusted by both parties to execute contracts fairly. […]

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Data fails to conclude that Bitfinex shorts are depressing Bitcoin price

A significant surge in Bitfinex short contracts is being attributed to Bitcoin’s current downturn but there are other major factors at play. One of the most common errors traders make when analyzing cryptocurrency markets is taking an exchanges’ bid and ask data and traded volumes at face value. When doing this type of analysis, the trader has to exclude the trading venues mentioned on multiple ‘fake trading volumes’ reports, like the one Bitwise published in March 2019. There’s really no way to know if the top exchanges […]

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Crypto Travel Rule Working Group Launches 2.0 Protocol ‘Solving the Discoverability Problem’

Just before the Financial Action Task Force (FATF) published the organization’s 12-month review, a working group called the Travel Rule Protocol (TRP) released its 2.0 version of the TRP crypto application programming interface (API) in order to “simplify the end-user crypto exchange experience.” TRP is backed by big banks like Fidelity Investments, Standard Chartered, and ING Bank and 25 virtual currency service providers (VASPs). Travel Rule-Focused Crypto Working Group Releases Protocol Version 2.0 The Travel Rule Protocol (TRP) is an organization that aims to enhance crypto financial […]

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John McAfee tributes, El Salvador’s bold plans, altcoin fears: Hodler’s Digest, June 20–26

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week   Remembering John McAfee: Computer programmer and crypto evangelist dead at 75 John McAfee was found dead in his Spanish prison cell hours after the countrys courts ruled that he could be extradited to the U.S. to face tax evasion charges. He was […]

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Country Adoption Methods For Bitcoin

How can nation states capitalize on this major technological advancement? The exciting thing about predicting a Bitcoin future is there is very little direct history to draw on. Everything is new, unpredictable, terrifying, and full of opportunity. Until El Salvador, there were no data points, but perhaps this provides insight into the next country-sized domino to fall. What internal or external catalysts might be necessary for a country to adopt Bitcoin? Desperation? Legacy? Political turmoil? Currency collapse? Opportunity? First-mover advantage? Wealth appreciation? These motivations are spread unevenly […]

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Blockchain Surveillance Firm Chainalysis Raises $100 Million, Company’s Valuation Now $4.2 Billion

The blockchain intelligence and surveillance firm Chainalysis announced the company has raised $100 million in Series E funding from investors such as Coatue, Benchmark, Accel, Addition, Dragoneer, Sequoia Heritage, and SVB Capital. The financing brings the company’s valuation to $4.2 billion and it aims to expand its resources and deepen data to cover more cryptocurrencies and focus on use cases like decentralized finance (defi). Chainalysis Raises $100 Million, Blockchain Intelligence Firm’s Valuation Now Over $4 Billion The blockchain Satoshi designed is a transparent ledger and transactions can […]

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‘Bitcoin will go all the way to $160,000 this year,’ says Celsius CEO

The highs for Bitcoin are yet to be seen this year, says Alex Mashinsky. Although the price of Bitcoin (BTC) continues to hover around $30,000, industry experts are noting that there is a bullish long-term view.  To put this into perspective, Alex Mashinsky, chief executive officer and co-founder of Celsius – the centralized cryptocurrency lending platform – told Cointelegraph at Bitcoin 2021 in Miami that he sees Bitcoin reaching $160,000 this year, or possibly a bit lower. “We haven’t seen the highs yet for 2021,” Mashinsky said. […]

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Federal Reserve official: Stablecoin growth is ‘exponential,’ deserves ‘attention’

Boston Federal Reserve President Eric Rosengren notes that Tether could be a “disruptor” to short term credit markets. While a presentation yesterday from Boston Federal Reserve President Eric Rosengren has some members of cryptoTwitter spooked at the idea of regulation and oversight, the central bank might simply be pondering the future.  In a presentation titled “Financial Stability,” Rosengren identified the stablecoin Tether by name as a part of three different “Financial Stability Challenges.” The challenges included risks to the housing market, the need for emergency lending facilities […]

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Crypto in Canada: Where are we today, and where are we heading?

An exploration into the country’s crypto landscape today and what it means for the future of the digital asset industry in Canada. Digital currencies are quickly becoming more mainstream within the Canadian financial landscape. Alongside this increased adoption, Canada has been relatively successful at creating a stable regulatory environment. In 2014, Canada established itself as a leader in the global digital asset space when the Canadian Parliament became the first government in the world to pass a national law on digital currencies. Since then, Canadian regulators have […]

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