Crypto Guides, Knowledge & Insights

Are cryptocurrencies better than fiat currencies?

By: Damian Okonkwo　　Introduction 　　The advent of cryptocurrency has changed the world of finance today; giving users more control over their assets. Given the great ease and speed obtainable in carrying out transactions using Cryptocurrencies, many now supposethat cryptocurrencies are superior to fiat currencies, which are issued by governments and central banks. In this article, we will examine the arguments for and against cryptocurrencies being better than fiat currencies.　　Are cryptocurrencies better than fiat currencies？　　Before delving into offering our views on this, let us examine the pros and cons of cryptocurrencies.　　Pros of Cryptocurrencies 　　A major advantage of cryptocurrencies over fiat currencies is their decentralized nature. This means they are not controlled by any government or central authority. Instead, they operate on a peer-to-peer network, which means that transactions can take place without the need for intermediaries. This makes cryptocurrencies more secure and resistant to fraud and theft.　　Another advantage of cryptocurrencies is their anonymity. Transactions made using cryptocurrencies are not linked to a persons identity, which means that they are more private than transactions made using fiat currencies. This is particularly useful for people who want to keep their financial transactions confidential.　　Cryptocurrencies are more easily accessible than fiat currencies. They can be practically

2023-04-24Deep Dive

What Taylor Swift Can Teach You About Investing

What Taylor Swift Can Teach You About Investing　　The megastar reportedly dodged a catastrophic deal with FTX by asking one simple question.　　Angry victims of the FTX swindle are looking for restitution from the celebrity spokespeople who pitched the failed exchange, in a lawsuit that names Larry David, Tom Brady and Shaquille ONeill, among others. One name not on that list is Taylor Swift, who was offered a reported $100 million sponsorship deal with the offshore crypto exchange – but dodged embarrassment and potential legal fallout by exercising some basic skepticism.　　Swift reportedly asked FTX representatives, “Can you tell me that these [listed assets] are not unregistered securities？” in the course of negotiations, which ultimately failed. That‘s according to Adam Moskowitz, the plaintiff’s lawyer in the FTX endorsements suit, speaking to The Block‘s Frank Chaparro. Moskowitz describes learning about the incident in the discovery phase of the suit, and I haven’t seen confirmation from Taylor Swifts camp.　　But even if it‘s a bit of a just-so story, there’s a wealth of wisdom in this little parable. It wouldnt be the first time Swift showed herself to be a brilliant and sharp-elbowed businesswoman on top of her musical talent – for instance, having muscled her

2023-04-24Deep Dive

Could the United States anti-crypto stance spread to Europe?

Now that the U.S. government has fully thrown off the veil and is openly hostile to crypto. Could it use its vast power to influence governments in Europe to follow a similar line？ The U.S. Gloves Are Off　　The U.S. has thrown its cap in the ring as regards its anti-crypto feelings, and so now it is obvious why the Securities and Exchange Commission (SEC), headed up by Chairman Gary Gensler, has been so obstructive towards crypto companies, and why it has used the blunt tool of enforcement rather than sit down and discuss how these companies can comply with regulations.　　It would seem that this U.S. administration has made the decision to try and eradicate crypto from its shores, possibly from the perspective of trying to defend the dollar from what it might perceive as the threat of superior payment systems arising out of the amazing innovations in the crypto sector.　　The SEC appears to be spending an inordinate amount of its time on a tiny crypto asset class, at a time when the banking system in the U.S. is on the edge of collapse. Gensler is asking for far more resources to be given to his watchdog agency in order to

2023-04-24Deep Dive

SEC Could Access Singapore Records In Terra Founder Investigation

The records of the Luna Foundation Guard and Do Kwons operations, which have been stored with the Monetary Authority of Singapore (MAS), can now be accessed by the U.S. Securities and Exchange Commission.　　Do Kwon can not hide the records of his Singapore operations behind the MAS curtain anymore. In a recent ruling, the SEC was granted permission to access the records of the Luna Foundation Guard (LFG) from the countrys central bank. The ruling will allow the SEC to seek records from the MAS that could provide more insight into the management of the LFG and the role of Do Kwon in the LUNA/UST collapse that unraveled the market in 2022.　　Do Kwon had requested US Judge Jed Rakoff to prevent the SEC from accessing data related to his operations stored at the MAS？ However, the District Judge denied his request, making it feasible for the SEC to get valuable information. According to reports, this information includes records of the initial establishment of the non-profit organization behind the collapsed Terra ecosystem and the funds raised by it to maintain the dollar peg of the algorithmic stablecoin Terra (UST).　　Enforcement Action From All Over　　Multiple regulatory bodies, law enforcement agencies, and prosecutors have claimed

2023-04-24Deep Dive

VC Financing For Web3 Hits Its Lowest Level This Quarter

Key Points:　　In the first quarter of this year, venture capital-backed Web3 firms received the least amount of money.　　Venture capital fell 82% year on year, from $9.1 billion in Q1 2022 to $1.7 billion in Q1 2023.　　Transaction flow also continued to decline, with just 333 transactions executed in the first quarter.　　According to Crunchbase, financing to venture capital-backed Web3 companies fell to its lowest level since the spaces early days in the first quarter of the year as transaction activity slowed.　　Crunchbase showed that VC financing for Web3 startups fell 82% year on year (YoY), from $9.1 billion in Q1 2022 to $1.7 billion in Q1 2023.　　According to statistics from an April 20 report, the $1.7 billion number for Q1 2023 is also the lowest amount of Web3 start-up investment since the $1.1 billion announced in Q4 2020, when many people had never heard of Web3.　　Source: Crunchbase　　Transaction volume also continued to decline, with just 333 agreements finalized in the first quarter, down from 369 in the previous quarter and a significant decrease from the more than 500 announced in Q1 2022. Web3 startups are now classified as early-stage enterprises that operate directly with crypto or blockchain technology.　　In the first quarter of 2022, 29

2023-04-23Deep Dive

Sui Wallet Review: Detailed Instructions On How To Use It You Shouldn’t Miss

Sui Wallet is a cryptocurrency wallet application developed for Sui, an emerging blockchain platform that has received a lot of attention recently. So lets explore the features and usage of this cryptocurrency wallet through the article below.What is Wallet Sui？　　The open-source Sui Wallet gives Sui users the ability to create addresses, view and manage assets on the Sui network, and interact with dApps. The Sui Wallet is a reference implementation for other potential wallets and applications in the Sui ecosystem. Finally, it will showcase the newest and most unique Sui abilities. The Sui Wallet repository will act as an essential ecosystem enabler as Sui begins to support large-scale use cases, move-powered ownership models, and features other skills only found in Sui.　　Sui Wallet will adapt based on input from the developer community. Make sure to join our Sui Discord and provide feedback directly on the #General or #Suggestions channels.　　Sending SUI tokens from a Sui Wallet will cost the blockchain platform fee in SUI.　　Why choose Sui Wallet？　　The path to Web3 adoption is genuinely an empowered developer community and ecosystem. The Sui team is building the best, high-performance blockchain for mass adoption – and the best ideas, apps, and businesses come from the

2023-04-23Deep Dive

Bankman-Fried Said Badly About CZ Before The FTX Crisis

Key Points:　　Bankman-Fried was known to disseminate false stories against Binance CEO Changpeng Zhao.　　He was also accused of being racist.　　After a recent piece by Skybridges Anthony Scaramucci, this accusation gained traction.　　According to Binance Chief Strategy Officer Patrick Hillman, Sam Bankman-Fried propagated false or racist stories about Binance CEO Changpeng Zhao before to the bankruptcy of Bankman-Frieds crypto exchange FTX.　　The collapse of the cryptocurrency exchange FTX was watched by the whole world. Bankman-Fried has been a hot issue for quite some time. While things were beginning to calm down, new charges against the former FTX CEO started to surface. The previous FTX CEO was also accused of racism. Hillman posted on Twitter:　　After a recent piece by Skybridge‘s Anthony Scaramucci, this accusation gained traction. The article explains how SBF paid $45 million for a stake in Skybridge. Scaramucci subsequently invested $10 million in FTX’s native coin FTT. The November fall of FTX left the investment almost worthless.　　During SBF‘s discussions with authorities in Dubai, he had disparaged Binance founder Changpeng Zhao, SBF’s rival crypto billionaire. The Mooch had not attended those sessions, but his Skybridge colleague had and had reported terrible behavior to him.　　Scaramucci also claimed in the paper that SBF “bad-mouthed” CZ in

2023-04-23Deep Dive

Bitcoin drops to nearly 28000 USD. The market is in the red

Bitcoin (BTC) is trading at around $28325, down 2.7% over the past 24 hours, according to Coingecko data. But the BTC/USD trading pair on the Coinbase exchange fell to $27991 just before the US stock market closed but has since rallied again.　　Edward Moya, the senior market analyst at the forex market maker, thinks that Bitcoins recent drop occurred after Coinbase CEO Brian Armstrong revealed that the crypto giant could leave the United States.　　“Coinbase was able to secure a license to operate in Bermuda, which is being seen as part of their global push,” Moya wrote.　　“If Coinbase leaves the US market, a lot of US merchants will leave because they probably wont feel confident trading on decentralized exchanges, which means crypto markets. global mortality will shrink dramatically.”　　Ethereum (ETH) at one point dropped to $117, the lowest level in the past week. BTC and ETH are down nearly 7% and 3%, respectively, over the past seven days.　　Most Altcoins are in the red, XRP and Litecoin (LTC) have also recently dropped more than 5%.　　

2023-04-21Deep Dive

Ethereum gas fees skyrocket due to memecoin fever

High transaction fees have increased Ethereums daily revenue by many times that of Bitcoin. While Ethereum advocates are excited about the growth in revenue, many others complain and point to growing congestion on the network leading to difficulties in processing transactions.　　According to data from the On-chain analytics platform Santiment, there was an anomaly in the top 10 gas-burning altcoins on the Ethereum network in the past days, as memecoins such as TROLL, APED, and BOBO were among the 10 projects. burn the most ETH.　　The average gas price for Ethereum transactions as of April 20 was 81.94 gwei, up from 60.82 gwei on April 19.　　Another prominent reason for the spike in gas fees is attributed to the MEV trading bot that performed memecoin transactions on a large scale. The bot in question jaredfromsubway.eth was the biggest gas user in the last 24 hours, having spent 455 ETH ($950000) and using 7% of the networks total gas.　　Over the past two months, it has spent over 3720 ETH ($7 million) in gas fees and executed over 180,000 transactions.　　The meme coin craze is becoming hotter than ever on Ethereum when in the past few days, many projects have had very strong growth. Typically, AIDOGE

2023-04-21Deep Dive

If you had $1,000, would you buy Shiba Inu or Dogecoin?

Dogecoin and Shiba Inu are two rivals in the field of crypto meme. Both of these cryptocurrencies have greater fanfare than they really are. DOGE attracted attention in early 2021 but SHIB quickly dominated the second half of the following year.　　SHIB and DOGE are cryptocurrencies that are regularly pumped, their prices are often unstable and have a great impact on an individual or organization. With DOGE, it influenced by Elon Musk.　　Poll: If you had $1,000, would you buy Dogecoin or Shiba Inu？　　While Dogecoin has long crossed the $0.01 mark in early 2021, Shiba Inu has yet to hit that remarkable feat. DOGE investors want to see their meme hit $1, while SHIB holders are hoping it hits $0.01.　　Benzinga held an online poll recently to ask investors: “If you had $1,000, would you buy Shiba Inu or Dogecoin？” The results of the poll came out and Dogecoin won with a majority.　　About 57.4% of investors polled said that they would choose to drop their $1,000 to buy Dogecoin. Only 42.6% of investors polled would accept putting their $1,000 in Shiba Inu.　　Dogecoin: 57.4%　　Shiba Inu: 42.6%.　　The poll indicates that Dogecoin remains an undisputed king in the crypto meme segment. The survey also indicated that

2023-04-21Deep Dive

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