Author: Coindesk
Ivan Soto-Wright: Yeah, well, I think from our side, it’s just constant. We have this word inside of MoonPay called Kaizen, which is continuous improvement. It’s these 1 % incremental improvements that you make every single day. You do that over a year, and that’s a 3 ,000 % improvement. So we’re constantly learning from our users. The reality is it just takes time. You have to adapt that product. You have to get that feedback. You need to listen to your customers. And obviously, trying to solve some of the biggest pain points for them. Like, it’s not acceptable…
Arthur Hayes, former CEO of crypto exchange BitMEX, said in his latest essay early Friday that bitcoin has likely bottomed at this week’s lows of $56,000, but warned investors to expect a gradual climb instead of a swift recovery to the March highs as markets will cool for the next few months. “Did bitcoin hit a local low […] earlier this week,” asked Hayes. “Yes,” he concluded. “I expect prices to bottom, chop, and begin a slow grind higher.” Read the full article here
Synthetic dollars, in effect, can cost more than “real” dollars because you need to over-capitalize your collateral in order to avoid the risk of losing that alignment with the U.S. dollar. Despite these risks, quite a few blockchain-based digital assets have been established with a peg to the U.S. dollar. The dai, from MakerDAO, is probably the most successful of these, though its backing today includes some U.S. dollar assets. There are others, however, that are pegged purely based on cryptocurrencies and other digital assets that do not connect with the dollar. Read the full article here
Address poisoning is a technique that involves tricking the victim into sending a legitimate transaction to the wrong wallet address by mimicking the first and last six characters of the true wallet address and depending on the sender to miss the discrepancy in the intervening characters. Wallet addresses can be as long as 42 characters. Read the full article here
CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization. Read the full article here
“The average weekday spot volume on CEXs during 1Q24 was $18.8 billion, more than eight-fold the $2.3 billion daily volume of U.S. spot ETFs over the same period,” the note said. “This discrepancy in activity leads us to believe that bitcoin’s price discovery still remains rooted in global demand trends.” Read the full article here
The CEO of CF Benchmarks, a unit of cryptocurrency exchange Kraken, predicts that despite an inauspicious beginning, crypto exchange-traded funds (ETFs) in Hong Kong will reach $1 billion in assets under management (AUM) by the end of 2024, Bloomberg reported on Friday. Read the full article here
The U.S. economy added 175,000 jobs in April, according to the government’s Nonfarm Payrolls report released Friday morning. That number stands against economist forecasts for 243,000 jobs and March’s 315,000 (which was revised from a previously reported 303,000). Read the full article here
About a third of the country’s local councils went to the polls on Thursday, with more than 2,600 seats up for grabs. With results in from 40 of the 107 councils, Labour had won 360 council positions, a gain of 62, while the Conservatives lost 147 for a total of 129, falling behind the Liberal Democrats, BBC data shows. Many of the other results, including the London mayoral election, may not be known until tomorrow or even Sunday. Read the full article here
“While we believe investors must remain level-headed around the ebbs and flows of enthusiasm into the industry, which often coincide with fluctuations in price, we see a number of underlying trends supporting our positive thesis that Coinbase will be a relevant player in virtually all aspects of the crypto economy,” JMP analysts led by Devin Ryan wrote. Read the full article here