Author: Coindesk
Although chip efficiency has rapidly improved in recent years as demand for bitcoin has picked up, the latest halving event on April 20, which cut the issuance of new bitcoin by 50%, adds even more importance for faster mining speed, as well as lower costs and enhances reliability, Butterfill said. Read the full article here
“People sold ezETH on Uniswap, and they had lower liquidity, so the slippage caused the price to drop to below $700, which caused massive liquidation on [generalized leverage protocol] Gearbox and [lending protocol] morpho,” Hitesh Malviya, founder of crypto analytics platform DYOR, told CoinDesk. Read the full article here
Moreover, a single stablecoin can serve a different purpose depending on jurisdiction. For instance, in high-inflation nations like Zimbabwe and Nigeria, stablecoins have been adopted as alternative means of payment, remittances, and stores of value assets. Meanwhile, in advanced economies, stablecoins are widely used to fund cryptocurrency purchases. Read the full article here
Letters of support also came from Max S. Baucus, former U.S. Ambassador to China, Professor Jeremy R. Cooperstock, McGill University, Associate Professor Ronghui Gu, Columbia University, Morgan Stanley Managing Director Sean Yang, and members of the ruling family in the United Arab Emirates. Read the full article here
Neither major party, Modi’s BJP nor the INC, have mentioned the words cryptocurrency, blockchain or Web3 in their manifestos. However, this isn’t necessarily reflective of their plans toward the ecosystem. Indian government and political stakeholders, like other nations, have often used euphemisms to refer to the crypto-related space. Read the full article here
However, “it’s noteworthy that the recent circular did not mention any indigenous crypto exchanges, likely because many Nigerian crypto companies, such as Flincap, have been actively pursuing the required licenses,” said Nathaniel Luz, CEO of Flincap, a platform for OTC crypto exchanges. Read the full article here
The U.S. dollar is a global reserve and invoicing currency, playing a major role in international debt, non-bank borrowing, and global trade. When the dollar appreciates, USD-denominated debt becomes expensive, which, in turn, disincentivizes risk-taking in financial markets. A weaker dollar has the opposite effect. As such, over the years, bitcoin and the broader crypto market have tended to move in the opposite direction of the DXY, just as stocks and gold. Read the full article here
The HBAR token is still up by 61% over the past 24 hours, but the 2% market depth remains relatively thin, with $900,000 in cumulative bids on the Binance and Upbit order books within 2% of the current price of 14 cents. The token has over $2.6 billion in trading volume over the past 24 hours, according to CoinMarketCap. Read the full article here
FalconX’s Prime Connect, unveiled on Tuesday, also includes post-trade settlement, institutional-grade credit, and portfolio margining, the company said in a press release shared with CoinDesk. Deribit, the world’s leading crypto options exchange, is the first to integrate FalconX’s prime broking and custody solution. Read the full article here
The SEC’s proposal asked the court to order Ripple Labs to pay $876 million in disgorgement, $198 million in prejudgment interest, and a $876 million civil penalty, amounting to a total of $1.95 billion. The court had found Ripple violated federal securities laws by making institutional sales of XRP but dismissed similar allegations by the SEC that the sale of XRP on exchanges and through algorithms also violated the law. Read the full article here