Monthly Archives: July 2021

Bison Trails provides infrastructure support to Provenance blockchain

The Provenance Blockchain Foundation launched its new, open source proof-of-stake blockchain in May. Shortly thereafter, parent company Figure Technologies announced a $200 million Series D funding haul. Provenance will utilize Bison Trails’ infrastructure to strengthen its network and provide support to Hash holders to run validator nodes, according to June Ou, the executive director at Provenance Blockchain Foundation. Hash is the native cryptocurrency of the Provenance blockchain, serving both as a medium of payment as well as a governance token. “We’re proud to support Provenance in its […]

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India’s ICICI Bank warns remittance users to steer away from Bitcoin

The bank has also asked users not to invest any fiat currency that may have links to previous cryptocurrency investments. India’s stance on crypto adoption has been a gray area ever since the birth of Bitcoin (BTC). In what seems like another blow for the Indian crypto community, one of the biggest financial services, ICICI Bank, has warned users not to use their remittance services for transferring any form of crypto or digital currency. In ICICI’s latest iteration of the Retail Outward Remittance Application form, the bank […]

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Hedge funds see the crypto market decline as an investment opportunity

From rebalancing cash positions to announcing new investment products, hedge funds seem undeterred by the current crypto market decline. Crypto market capitalization is down more than 40% since its $2.5-trillion high back in early May, but institutional investors continue to pile into the market. Despite Bitcoin (BTC) losing over half of its United States dollar value and altcoins tanking almost 70% on average, big-money players like hedge funds are still taking up digital currency investment positions. From direct exposure to crypto to backing firms developing products and […]

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ClayStack raises $5.2M for liquid staking protocol

“We believe ClayStack has developed an efficient solution that addresses the shortcomings of present-day liquid staking protocols,” said CoinFund Founder and CEO Jake Brukhman. CoinFund was among several blockchain venture firms to participate in the raise. Cryptocurrency staking protocol ClayStack has secured $5.2 million in seed funding from several prominent blockchain investor funds, putting it on course to introduce new innovations in staking later this year. The seed round was co-led by CoinFund and ParaFi Capital, with around a dozen other venture funds also participating, ClayStack announced […]

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Binance reportedly halts pounds sterling withdrawal for UK customers again

Binance has reportedly been forced to suspend fiat currency withdrawals for customers in the United Kingdom once again. Binance customers in the United Kingdom are once again left without a fiat currency withdrawal option on Binance. According to Financial News on Tuesday, the crypto exchange giant sent emails to affected customers informing them of the problem. However, the exchange reportedly has not given any details as to the reason for the latest suspension of pounds sterling withdrawal but assured customers that it was working to resolve the […]

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Vow Introduces the Next Step in the Evolution of Crypto-Based Currencies

Since the beginning of 2021, the cryptocurrency industry has experienced a marked surge in popularity, as institutions and individuals flock to the rapidly developing space in large numbers. Whilst the barrier to enter the space has significantly decreased since its birth a decade ago, there remain several sticking points which keep more widespread adoption difficult, particularly when it comes to interacting with local fiat currencies. There is a need for an effective and efficient liquidity bridge between crypto currencies and merchants that will only become stronger as […]

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The9 signs green Bitcoin mining deal with Russian firm BitRiver

BitRiver utilizes only surplus hydroelectric power to operate its data centers in Russia and CIS countries. The9, a Chinese internet company listed on the Nasdaq, is moving forward with its cryptocurrency mining plans by signing a contract with a major Russian data center operator. The company announced Monday that it has signed a crypto mining hosting agreement with Russian crypto mining services provider BitRiver through its fully-owned subsidiary NBTC. As part of the agreement, BitRiver will reserve 15 megawatts (MW) of its electric capacity for The9’s Bitcoin (BTC) […]

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Forex Shortages Force Nigerian Corporates to Turn to Parallel Market

Nigeria’s ongoing shortage of foreign exchange is forcing corporates and businesses to source this resource on the parallel market, a former official with the Lagos Chamber of Commerce and Industry (LCCI) has said. According to Muda Yusuf, who is the previous director-general at LCCI, these shortages stem from the foreign exchange market liquidity constraints that have been experienced in the first half of 2021. Investment Risk As noted in a report based on data from July 8, 2021, the turnover at one of Nigeria’s multiple official forex […]

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Make Or Break For The Bitcoin Price Stock-To-Flow Model

The bitcoin price stock-to-flow (S2F) model is at its lowest deflection multiple point since October 2010. The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. It is close to make or break for the stock-to-flow (S2F) model. First released in March 2019 by the pseudonymous Plan B, the stock-to-flow model attempted to quantify the relationship between the […]

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FTX crypto exchange integrates institutional trading tool ClearLoop

FTX has inked a deal with Copper that could enable access to crypto trading products for over 300 institutional asset managers via the ClearLoop settlement platform. FTX has become the latest crypto exchange service to join ClearLoop — an instant trading settlement infrastructure from Brevan Howard-backed Copper.co. As part of the integration, Copper’s over 300 institutional asset managers will be able to access FTX crypto offerings such as cryptocurrency futures, options, volatility markets, as well as tokenized stocks among others. At over one million registered users and more […]

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