Category Archives: Crypto News

IDEX’s ‘hybrid liquidity pool’ aims to tackle some of DeFi’s biggest problems

DeFi’s tremendous growth hasn’t come without obstacles, as the nascent industry still struggles with high costs, failed trades and front-running. IDEX, a San Francisco-based decentralized exchange, has unveiled new protocol upgrades designed to solve two of the biggest issues with decentralized finance, or DeFi — slippage and front-running.  The exchange claims that its Hybrid Liquidity protocol solves these challenges by combining an order book and trading engine with the liquidity pools of an automated market maker, or AMM. “The novel exchange design protects users from the most glaring pitfalls […]

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ConsenSys exec joins CoinFund to assist early-stage blockchain firms

“My team will serve as partners who support and guide founders and their teams during their journeys from early-stage to growth-at-scale,” said Vanessa Grellet. Vanessa Grellet, a five-year veteran of Ethereum software company ConsenSys, will be joining crypto investment group CoinFund as its new head of portfolio growth. In an announcement from CoinFund today, the investment group said Grellet would be responsible for guiding its portfolio of more than 50 companies and projects. The new head of portfolio growth will be aiming to “bridge the gap between […]

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EOS price rallies 100% following a proposal to increase staking rewards

A proposal to boost staking rewards and increase the inflation rate triggered a 100% rally in EOS price. As the blockchain sector continues to evolve, occasional protocol updates are needed to ensure projects stay up to date with the latest developments and provide users wit the best user experience possible.  Since May 5, EOS price has rallied more than 100% following a recent protocol upgrade that increases the project’s inflation rate. EOS/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets Pro and TradingView shows that after hitting […]

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Nuvei eyeing $250M acquisition of crypto startup Simplex

Simplex is a fiat-to-crypto onramp that has scored several high-profile partnerships in recent months. Canadian payments giant Nuvei is reportedly in talks to acquire Simplex, an Israeli cryptocurrency startup, for up to $250 million – sending a strong signal that the electronic payments processing industry was pivoting towards digital currencies.  The deal between Nuvei and Simplex is expected to be finalized “in the next few days,” according to BlockBeats, a Beijing-based blockchain publication. The deal could be worth between $200 million and $250 million. Neither Nuvei nor […]

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Reports suggest Goldman Sachs is now offering Bitcoin derivatives

According to a new report, the investment firm is now offering trading with non-deliverable forwards. Investment banking giant Goldman Sachs has reportedly opened up futures trading on Bitcoin to Wall Street executives. According to Bloomberg Law, last month the investment firm began offering trading with non-deliverable forwards, a derivative tied to the price of Bitcoin (BTC) — roughly $56,000 at the time of publication — for which investors can get paid in fiat. Goldman Sachs reportedly lessens its risk to the crypto asset’s infamous volatility by buying […]

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BakerySwap, Syscoin and Utrust rally as altcoin season kicks into high gear

BAKE, SYS and UTC have secured triple-digit gains as large and small-cap altcoins capitalize on Bitcoin’s range-bound price action. Bitcoin’s (BTC) institutional adoption shows no signs of slowing down. This week Latin America’s largest e-commerce company, Mercado Libre, disclosed that it had purchased $7.8 million worth of Bitcoin as part of its treasury strategy.  Mercado Libre was not only in this decision, as Metromile Inc., a Nasdaq-listed digital insurer also said it plans to buy $10 million worth of Bitcoin in the second quarter of this year. Additionally, Metromile […]

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SEC chair hints at greater regulatory oversight for US crypto exchanges

Gary Gensler said a regulatory framework for digital assets from the SEC or CFTC “could instill great confidence” for investors. Recently confirmed U.S. Securities and Exchange Commission chair Gary Gensler punted to congress on providing more regulatory oversight to the crypto space, but also said the commission would act within its purview.  In a virtual hearing held by the House Financial Services Committee today, North Carolina Representative Patrick McHenry asked Gensler what the regulatory body would be doing to ensure a “vibrant digital asset marketplace with legitimate […]

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Coinbase stock plunges to record low, further decoupling from crypto

The stock was down by as much as 6.5%, even as the overall cryptocurrency market reached new all-time highs. Shares of Coinbase Global Inc. tumbled to fresh lows on Thursday, as Wall Street investors continued to cycle out of high-flying tech stocks. The cryptocurrency market, meanwhile, reached a record valuation over $2.4 trillion.  COIN stock bottomed at $255.15, where it was in danger of breaching the $250 reference price on the eve of its public listing on Apr. 14. After an explosive debut, COIN has been on […]

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They see ETH rollin’: Why did Ether price reach $3.5K, and what’s next?

Attention is firmly on the short-term future of Ether after Ethereum’s native cryptocurrency surged to new all-time highs above $3,500. The next few months promise to be exhilarating and decisive for Ether (ETH), as its recent all-time highs above $3,500 put an even bigger spotlight on the cryptocurrency and its smart contract blockchain, Ethereum. As the cryptocurrency markets continue to grow five months into 2021, both the preeminent Bitcoin (BTC) and a host of other blockchain projects and tokens have soared in value, chief among them being […]

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Flippening? Record $10B Ethereum futures volume briefly outpaces Bitcoin’s

The volume on Ethereum futures flipped Bitcoin’s after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether’s $3,605 all-time high on May 5 was responsible for boosting the asset’s futures open interest to $10 billion. This movement brings up some crucial questions as the dominance of Bitcoin’s derivatives markets appears to be challenged at […]

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