Crypto Guides, Knowledge & Insights

The Number of Bitcoin ATMs Installed Slowed Significantly in September

Data obtained from CoinATMRadar shows that the number of ATMs deployed decreased from 38,776 in August to 37,980 in September. A decline of -2.05% occurred as a result of the removal of 796 ATMs from the global network. 　　Numerous variables, including market uncertainty and tensions from various geopolitical countries, can be blamed for the abrupt decline in Bitcoin ATM installations.　　A user can use cash or a debit card to purchase Bitcoin and other cryptocurrencies at a bitcoin ATM. You can purchase and sell bitcoin for cash using some Bitcoin ATMs two-way capability. 　　In some instances, Bitcoin ATM providers demand that customers have an active account in order to use the machine. One of the easiest to see indicators of how the ecosystem of digital currencies is developing is the presence of bitcoin ATMs.　　　　Installed Bitcoin ATMs in Various Locations　　According to information obtained from CoinATMRadar, as of May 18, 2020, there were 5,888 crypto ATM locations in the United States alone, with 736 of those being concentrated in the Los Angeles region and 946 in Washington, DC. This number includes additional coins like Bitcoin Cash (BCH). Litecoin (LTC), Dash (DASH), and Ethereum (ETH) (DASH).　　Additionally, there are now roughly 15 bitcoin ATMs spread

2022-10-04Deep Dive

Germany's Deutsche Telekom Launches Support for Staking and an Ethereum Validator Node

In accordance with the German business, its T-Systems Multimedia Solutions (MMS) subsidiary is partnering with a liquid Ethereum 2.0 staking service and DAO StakeWise to host a staking pool that permits individuals to participate in recording data without being required to operate their own validators. Additionally, Deutsche Telekom takes part in StakeWises decentralized autonomous organizations governance (DAO). 　　“As a node operator, our introduction into liquid staking and the close engagement with a DAO is a first for Deutsche Telekom,” said Dirk Röder, Head of the Blockchain Solutions Center at T-Systems MMS, in a statement.　　Because it saves users the time and effort of being required to set up their own validator node, like other similar programs like Lido, Deutsche Telekom expects that users will be attracted to liquid staking through its new service. Furthermore, liquid staking is less costly than standard Ethereum staking, which demands for users to establish their own node and commit a minimum of 32 ETHs, or about $43,338 at the current pricing, in order to engage in staking activities.　　Deutsche Telekom has been actively involved in the cryptocurrency industry. By investing in Celo, a blockchain startup with offices in San Francisco that offers cryptocurrencies on mobile networks, the

2022-10-03Deep Dive

US CFTC Files Charges Against Digitex for Trading and Registration Violations

The CTFC accused Todd of employing a number of company organizations, including Digitex LLC, Digitex Ltd., Digitex Software Ltd., and Blockster Holdings Ltd., in its complaint, which was filed with the commission and made public on Friday in the Southern District of Florida. Corp., - to operate a fraudulent cryptocurrency derivatives trading business. 　　Conforming to the watchdog, Digitex Futures Exchange fulfilled the requirements for a certified contract market or international board of trade but did not register as a futures commission merchant with the CTFC, infringing CEA regulations.　　In breach of the Bank Secrecy Act, which carries a maximum five-year prison sentence for offenders, the CTFC charged Todd and the entities with failing to implement sufficient know-your-customer checks and a customer information program. 　　　　The CTFC further claims Todd tried to use noneconomic trading to “push” the price of DGTX, the native token of the exchange, higher. The regulator asserted that Todd bought tokens with the intention of artificially expanding the exchanges holdings by driving up the price of the token rather than buying them with the intention of profiting from the individual trades.　　According to the regulators filing, “Defendants are likely to continue to engage in the acts and practices described in

2022-10-03Deep Dive

Mutant Ape Yacht Club, CryptoPunks Among This Week’s Recording-breaking NFT Sales

The NFT ecosystem has been waning in terms of monthly trade volumes since Mays crypto market downtown, and especially compared to all-time highs in January of this year.　　However, this week in particular saw some significant trading activity, and Wednesday takes the cake for the highest daily volume of NFTs sales, measured in ether (ETH), in September and in the past 30 days.　　Sept. 28 saw 12,565 ETH, or $16.6 million, transacted that day. While Sept. 20 recorded a lower volume amount in ETH — 12,549 ETH — the USD amount of $17 million was higher due to the fluctuating price of ether. 　　This weeks spike can likely be attributed to a $16.75 million generative art sale, a $1.3 million Mutant Ape Yacht Club (MAYC) lending deal and a $4.45 million CryptoPunks sale.　　Tyler Hobbs, the creator of the popular Fidenza project on Art Blocks, and Archipelago co-founder Dandelion Wist released mint passes for their new collection, QQL, dropped via a Dutch auction on Wednesday.　　This generative art experiment sold out 900 mint passes using a rebate mechanism so that all buyers ended up paying the same price once it settled. While the auction closed out at 14 ETH, the QQL project collected around

2022-10-03Deep Dive

Bitcoin-related ETFs were unveiled by Simplify Asset Management

$1.4 billion worth of ETFs are currently being managed by the Simplify asset management company. A 0.97% management fee is levied by the Nasdaq-listed MAXI Fund. 　　The Simplified Bitcoin Strategies Risk Management Yield ETF invests in the price of cryptocurrency futures rather than the actual cryptocurrency itself. It uses three strategies—a Bitcoin futures strategy, a yield strategy, and an option stacking approach—to generate yield.　　By exposing investors to Bitcoin and making money by trading short-term put or call spreads on the most liquid global stock indexes, MAXI aims to maximize capital gains and income. As was mentioned in April, the asset management company submitted an application to the SEC for a bitcoin strategy ETF.　　　　The third U.S. bitcoin exchange-traded fund (ETF) product, which monitors futures prices for the biggest crypto asset in the world, has received approval from the U.S. Securities and Exchange Commission (SEC). By receiving approval to sell bitcoin futures-based ETFs, Teucrium joins other issuers like ProShares and VanEck who also received it last year. Its anticipated that the market will see more Bitcoin ETF products traded.　　By introducing a new exchange-traded fund (ETF) that gives its European customers exposure to blockchain and cryptocurrency companies, BlackRock, a US global investment firm

2022-10-03Deep Dive

Instagram and Facebook Users Can Now Share and Crosspost NFTs

Meta first enabled select creators and NFT collectors to post their NFTs on Facebook and Instagram at the end of August.　　Now, the digital collectibles feature is available to all Facebook and Instagram users in the US and 100 international countries where the Instagram roll out initially took place.　　Users can unlock the feature by connecting a supported digital asset wallet to their social media accounts, including Rainbow, Trust Wallet, Dapper, Coinbase Wallet and MetaMask wallets. 　　The main perk is getting to share NFTs to Instagram or Facebook feeds, and cross-post any digital collectibles across both platforms for zero fees. Credit can be given to the artists behind an NFT by tagging them in the post. 　　Some of the creators chosen to test out the feature during the August roll out included Steve Aoki and emerging digital artists such as Jesse Smith Art.　　“You could own lots of NFTs but the question is — how could I showcase it？ At the end of the day, NFTs are about clout and signaling,” stated by Varoun Hanooman, the developer behind the Space Doodles collection.　　The value of that is two-fold, added Hanooman: “It lets others know that you‘re in a very exclusive community and that there’s

2022-10-03Deep Dive

Hackers use a zero-day bug to steal cryptocurrency from the General Bytes Bitcoin ATM.

To enable the acquisition or sale of more than 40 different cryptocurrencies, General Bytes runs with over 8,000 Bitcoin ATMs spanning more than 120 nations and territories. 　　The business claimed that criminals leveraged a zero-day weakness in its crypto application server (CAS), allowing access to administrator capabilities, changing the beneficiary wallet address, and permitting individuals to buy and sell cryptocurrencies using stolen cash.　　The expression “zero-day,” often termed as “0-day,” alludes to a hacker-used weakness that hasnt yet had the original programming fixed. It is followed by terms like “vulnerability, exploit, or attack.” 　　General Bytes version upgrade notes, which were made public on the 18th, stated the following:　　“The attacker was able to create an admin user remotely via CAS administrative interface via a URL call on the page used for the default installation on the server and creating the first administration user.”　　By scanning TCP port 7777 or 433 on the internet for vulnerabilities, the attackers were able to reach Digital Oceans cloud hosting infrastructure. They then installed a default administrator user named “gb” to the businesss own Cryptography Application Server (CAS).　　Then, while waiting for the trader to utilize the ATM to transfer the bitcoin to the hacker wallet, the user can

2022-09-30Deep Dive

Bitcoin Ranges Steady Despite Tech Downtrend

The British pound fell to a historic low of $1.03 this week, sending shockwaves through global markets and adding to concerns about the United States already rapid interest rate hikes.　　Despite the fact that the US Dollar Index has been trending upward on a monthly basis since May of this year, six of the 11 Wall Street stock indexes fell by more than 2%, as concerns about a global economic slowdown persist.　　Coinbase Global (COIN) was down 9.5% in the previous 24 hours as of 2:00 p.m. ET, following a downgrade from Wells Fargo to “underweight” on Thursday.　　According to Serhii Zhdanov, CEO of EXMO, a UK-based cryptocurrency exchange, in prior years, inflation was frequently connected with an increase in local interest in purchasing cryptocurrencies.　　However, the crypto bear market caused by the crashes of several cryptoassets has harmed cryptocurrencies reputation and interest, he claims.　　“Cryptocurrencies are no longer perceived as hedge assets,” Zhdanov said.　　Overall, the values of bitcoin and ether have remained pretty steady.　　Waning correlation with tech　　Bitcoin climbed 2.7% in the last week, from around $18,000 last Thursday to a high of $19,600 today.　　Since September 13, the leading cryptoasset has traded in a range of around $18,500 to $20,300.　　Similarly, the price of ether has

2022-09-30Deep Dive

Celsius Might Repay Clients With Assets That Are Wrapped

The co-founder and CEO of Celsius, Nuke Goldstein, appears to provide greater detail about the employers decision to reimburse Earn consumers in the tape that Tiffany Fong posted. 　　The previously leaked all-hands meeting recording is credited to Celsius customer and public figure Fong.　　The Block reports that wallets will be refilled with the remainder of the money Celsius set aside for consumer repayment. The business will then issue wrapped tokens, often referred to as Cx tokens, to indicate the ratio of how much the corporation owes to the amount that it has on hand. 　　Customers can either wait for a higher payout when additional revenue comes in or redeem wrapped tokens that will be available. As Goldstein mentioned impending mining, ETH staked money, and other coins that may become liquid, the company made this statement.　　Customers will also have the option to exchange the wrapped tokens on other marketplaces in addition to redeeming them, according to Goldstein. According to him, users would have the option to withdraw their tokens and transfer them to Uniswap or even other marketplaces to let the community determine the tokens valuation.　　Fong claims that she received the new tape on September 1 as opposed to the leaked all-hands

2022-09-30Deep Dive

DBS Provides Four Crypto Trading Options for High-End Singapore Clients

The implementation of the cryptocurrency trading capability coincides with an increase in self-directed choices among DBS wealth clients, who presently conduct the majority of their transactions online. 　　Accredited premium clients can trade four of the more well-known cryptocurrencies on its digital exchange by making investments starting at a minimum of USD 500: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and XRP (DDEx).　　According to Singapores largest bank, “having their cryptocurrency holdings makes it easier for clients to stay on top of their investments across traditional and alternative asset classes.”　　When asked about the most recent action, a senior executive of the DBS stated that it will benefit their clients in increasing and safeguarding their wealth. Group Executive for Consumer Banking and Wealth Management at DBS Bank, Sim S. Lim, stated:　　“We believe in staying ahead of the curve and providing access to the solutions they seek. Broadening access to DDEx is yet another step in our efforts to provide sophisticated investors looking to dip their toes in cryptocurrencies with a seamless and secure way to do so.” 　　The DBS digital asset ecosystem will provide services to about 100,000 clients in Singapore.　　The Monetary Authority of Singapore (MAS) granted DBS a cryptocurrency license last year

2022-09-30Deep Dive

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