Monthly Archives: May 2022

Bitcoin Plunges To Lowest Level Since January 2021

Crypto Daily

Bitcoin’s price revisited early 2021 levels on Wednesday as the currency struggled to maintain the $30,000 zone. Bitcoin extended losses to reach levels last seen in January 2021 on Wednesday amid a broader market sell-off. The peer-to-peer digital currency struggled to hold the $30,000 level throughout the day as U.S. inflation levels were reported above market expectations and a macroeconomic risk-off movement keeps gaining traction globally. Bitcoin drops to levels last seen in January 2021. Image source: TradingView U.S. inflation reached 8.3% in the 12 months ending […]

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What Sets Bitcoin Apart From Other Cryptocurrencies

Crypto Daily

Bitcoin is in a league of its own compared to other cryptocurrencies and it’s important to know the distinction to protect financial freedom. As someone who learned the importance of “Bitcoin-only” from the personal experience of getting rekt, I feel a determination and duty to ward off newcomers from other cryptocurrencies, which I believe to be outright scams at worst (or subtle ways for others to take your bitcoin, at best). In my experience leading meetups and teaching lessons about Bitcoin, I’ve found that many people, if […]

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Protected: Why Use An Air-Gapped Computer (AGC) For Bitcoining?

Crypto Daily

Use of an air-gapped computer improves general operational security relative to the exposure other devices experience. I get many questions about this so I’ve decided to write about why an air-gapped computer (AGC) for Bitcoin security might be desirable for some people. Reason One The primary reason for an air-gapped computer (AGC) is to check the functioning of your hardware wallet (HWW). To begin with, when your HWW generates a private key, how do you know that private key is truly random? You are trusting it. If […]

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No One Understands The Monetary System, And That’s Not OK

Crypto Daily

Understanding the monetary system is foundational to seeing what’s wrong with the current system and to have a true grasp of Bitcoin and its importance. “If you want to make an apple pie from scratch, you must first invent the universe.” – Carl Sagan Among the first objections that arise for anyone who has just learned about Bitcoin is “this is too complicated to understand.” And it’s true; private keys, block times, difficulty adjustments, UTXOs, uncensorable CoinJoin transactions, hash-something — the learning curve is steep and, for […]

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Satoshi Nakamoto’s Bitcoin State Of Mind

Crypto Daily

Bitcoin fits into the framework of economic equality, which exposes Nakamoto’s intentions to provide an opportunity to opt out of the financial system. Imagine Tupac Shakur (also known professionally as 2Pac) coming back to discover modern rap music. At the very least, he would have some questions, “What the fuck is ‘mumble’ rap?” Not that 2Pac invented rap, but he’s certainly a contender for the greatest rapper of all time, so assuming he would have input is no stretch. Satoshi Nakamoto coming back to discover modern “crypto” […]

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Terra contagion leads to 80%+ decline in DeFi protocols associated with UST

Crypto News

Projects associated with Terra suffer losses of more than 80% as contagion spreads. Meanwhile, Maker (DAI) gets a boost as traders look for other decentralized stablecoin options. The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered.  The forced selling of the Bitcoin (BTC) holdings backing a portion of UST also influenced BTC’s current drop to $29,000 […]

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Chairmen from the SEC and CFTC talk crypto regulation at ISDA meeting

Crypto News

Rostin Behnam and Gary Gensler make their positions clear in keynote addresses at the annual meeting of the ISDA with Sam Bankman-Fried in attendance. The annual meeting of the International Swaps and Derivatives Association (ISDA) began Wednesday in Madrid. United States Securities and Exchange Commission (SEC) chairman Gary Gensler and U.S. Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam were both featured as keynote speakers at the event, with Behnam speaking at the morning session, and Gensler in the afternoon.   Behnam spoke at length about “a […]

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5 state regulators allege organization is tied to Russia, scamming users using metaverse casino

Crypto News

“The same rules that apply to investments in the physical world continue to apply to investments in virtual worlds,” said the regulators. Authorities in the U.S. states of Alabama, Kentucky, New Jersey, Texas and Wisconsin have filed enforcement actions against the Flamingo Casino Club for allegedly perpetrating a scam through nonfungible tokens (NFTs) tied to a metaverse casino. In a Wednesday announcement, the Alabama Securities Commission, Kentucky Department of Financial Institutions, New Jersey Bureau of Securities, Texas State Securities Board and Wisconsin Department of Financial Institutions alleged […]

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Citi, Wells Fargo, BNY Mellon Invest in Crypto Firm Talos as Institutional Adoption of Digital Assets Accelerates

Crypto Daily

Several major financial services firms, including Citi, Wells Fargo, and BNY Mellon, are investing in institutional digital asset technology provider Talos, which aims to remove “the barriers to wide-scale crypto adoption.” The latest funding round values the company at $1.25 billion. Citi, Wells Fargo, BNY Mellon Participate in $105M Funding Round for Digital Asset Tech Firm A number of major financial services companies, including Citi and Wells Fargo, have joined a funding round for Talos, a global firm that provides institutional digital asset trading technology. Talos announced […]

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Bitcoin fights to hold $29K as fear of regulation and Terra’s UST implosion hit crypto hard

Crypto News

Bitcoin leverage traders show little interest in going long even as BTC price flirts with new lows below $29,000. Bitcoin (BTC) price initially bounced from its recent low at $29,000 but the overall market sentiment after a 25% price drop in five days is still largely negative. Currently, the crypto “Fear and Greed Index,” which uses volatility, volume, social metrics, Bitcoin dominance and Google trends data, has plunged to its lowest level since March 2020 and at the moment, there appears to be little protecting the market […]

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