Author: Coindesk
The minutes from the September Fed meeting, released Wednesday, showed policymakers were divided on how aggressive the central bank should be. “A substantial majority of participants” favored cutting the interest rate by half a percentage point, though some expressed misgivings about going that large, the minutes said. “Crypto sentiment has moved back into the fear zone (39), reinforcing the contrast with 72 (greed) in equities,” said Alex Kuptsikevich, a senior analyst at FxPro. “This dynamic is easily explained by the appreciation of the dollar and the increased attractiveness of bonds, which reduces institutional traction in bitcoin.” The dollar index (DXY),…
Bitcoin (BTC), the leading cryptocurrency by market value, traded near $61,000, slightly higher than the overnight low of $60,400 but still down more than 1.5% over 24 hours. Ether (ETH) saw similar price action, trading 1.9% lower at $2,395. Other major alternative cryptocurrencies, BNB and SOL, traded 1% lower, with XRP down 0.6%, according to CoinDesk data. Read the full article here
BTC’s dominance rate, or the cryptocurrency’s share in the total market capitalization, has increased from 38% to 58% in two years, according to data source TradingView. In other words, BTC has seen faster gains relative to the wider market, leading the doubling of the total digital asset market value to over $2 trillion. Read the full article here
Livepeer, a decentralized video-streaming project, hosted an AI Demo Day, showcasing eight startups that participated in its AI Startup Program over the past three months. According to the team, “These groundbreaking startups are building the future of generative AI on decentralized infrastructure. They include: Flipguard, Katana Video, Newcoin, Operator, Origin Stories, Refraction, StreamEth and Supermodel. Applications are open for the Q4 cohort of the Livepeer AI Video Startup program, which includes $20K in grant funding. Applicants can apply here: https://livepeer.typeform.com/to/tMAF463P.” Read the full article here
“But I did teach this stuff up at MIT and so forth, so I’m just going say this – these debates literally go back to Plato and Aristotle,” he said. “This is 3,000 years of history. Hundreds of great nations, thousands of nation-states – we tend to have one currency per geographic economic state. We tend even not to have bimetallism.” Read the full article here
Earlier today, U.S. federal prosecutors charged crypto trading firms Gotbit, ZM Quant, CLS Global and MyTrade and their employees with market manipulation and fraud. Notably, a CoinDesk report in 2019 detailed how Alexey Andryunin, the co-founder of Gotbit and one of the individuals charged by prosecutors, built a business out of faking exchange volumes for tiny crypto tokens using trading bots to get listed on price aggregators like CoinMarketCap. Read the full article here
During the course of their investigation, Federal Bureau of Investigation (FBI) agents created an Ethereum-based cryptocurrency, called NextFundAI, with the help of “cooperating witnesses” and used it to “identify, disrupt, and bring these alleged fraudsters to justice,” according to a Wednesday press release. The token, according to court documents, is also a security. A representative for the FBI added that there was limited trading “activity” on the coin but declined to share any additional information beyond what is currently available in public documents, including whether the FBI worked with any crypto companies on the project. Joshua Levy, the Acting U.S.…
The history of Satoshi-sleuthing is filled with wrong turns, cul de sacs, and wild goose chases. But HBO’s “MONEY ELECTRIC: THE BITCOIN MYSTERY,” which aired in the United States Tuesday night, was supposed to be different. It was supposed to provide compelling proof as to who invented Bitcoin, putting the world’s greatest mystery to bed, for good. Read the full article here
The HBO documentary turned the spotlight on an early Bitcoin contributor who recently has proposed an upgrade to fix all the bugs left in Bitcoin’s original code. PLUS: Criticisms mount after EigenLayer unlocks EIGEN token, as Babylon vaults to top of Bitcoin DeFi leaderboard. Read the full article here
Traditional finance heavyweights and global banks are getting increasingly involved in the tokenization of traditional financial instruments, or real-world assets (RWA), placing bonds, funds, credit or commodities onto blockchain rails. The process promises operational benefits such as increased efficiency, faster and around-the-clock settlements and lower administrative costs. Read the full article here