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Crypto Exchange Regulation Check

Bitcoin Volatility in July? 16K BTC Unlocking on Grayscale Coming Up

With the second quarter of 2021 almost done and July just around the corner, bitcoin might be headed towards a highly volatile month, and Grayscale could receive the blame. This is because one of the largest unlockings from GBTC will take place in the middle of the month as accredited investors will receive access to over $600 million worth of BTC.　　Volatility in July Because of GBTC Unlocking？　　Founded in 2013, Grayscale is the leading digital asset manager enabling institutional investors to receive exposure to BTC, and other cryptocurrencies, through its funds without having to worry about storing and managing their holdings.　　In return, they agree to pay a specific commission and to follow precise rules. One of which dictates that their Bitcoin holdings will be locked for six months. Meaning, once they purchase GBTC shares, they would have to wait half a year before receiving the chance to realize gains.　　With Grayscale‘s popularity blossoming in late 2020 and early 2021, numerous accredited investors used the company’s products to purchase shares, tracking the performance of the primary cryptocurrency.　　Consequently, some of them had their assets unlocked just recently, but the most substantial quantity will come on July 18th.　　As Bybt‘s graph demonstrates, Grayscale customers will receive

2021-06-21Deep Dive

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Chinas latest ban and crackdown on local crypto mining operations has been a nightmare for several Chinese operators. On Saturday, June 19, the Chinese authorities targeted the Sichuan province asking local government bodies to investigate and shut down Bitcoin mining operations.　　This has resulted in a severe drop in the BTC hashrate of Chinese mining pools while ultimately benefitting the American mining pools. Americas Foundry USA mining pool has made its way to the top ten spots and probably the only pool with an increased hashrate over the last 24 hours.　　Becoming the seventh most powerful mining pool is a major milestone for Foundry and comes within a very short span of time since its launch. Amid the recent crackdown, a number of Chinese miners have been shifting their operations to America.　　Places like Texas and Miami in the U.S. have already started wooing Chinese players by offering low-cost energy incentives. The Bitcoin-friendly Miami Mayor Francis Suarez by tapping into the citys clean nuclear power resources.　　The Drop In the BTC Hashrate of Chinas Biggest Mining Pools　　Amid the crackdown on the Sichuan province on Saturday, June 19, the BTC hashrate for one of Chinas biggest mining pools crashed down significantly. With this, AntPool dropped

2021-06-21Deep Dive

A deep dive into Polkadot’s tokenomics

Built using the Substrate blockchain framework, Polkadot is forming an ecosystem that both complements existing dApp infrastructure and provides new opportunities recognized by over 400 projects developing smart contracts, oracles, NFTs, DAOs, bridges, privacy, gaming, IoT, DEXs, and other DeFi solutions on the platform.　　At the heart of this expanding Polkadot ecosystem is the DOT token, going beyond just payments to facilitate various functions across the network. So what is DOT, and how can it be put to use in this blockchain of blockchains？　　What Is DOT？　　DOT is the native token of the Polkadot network, the smallest unit of which is known as a Planck.　　DOT is also an inflationary token, in contrast to the fixed supply monetary policy of protocols like Bitcoin. This is designed to incentivize the network by dynamically adjusting according to the participation rates of users, with a current supply of approximately 1 billion tokens.　　Other than serving ancillary functions as a transferable token, there are a number of key uses for DOT across the ecosystem from governance to staking, parachain auctions, and crowd loans.　　DOT for Governance　　Polkadot enables DOT holders to vote and participate in the governance of the network, including determining fees, parachain connections, and upgrades, alongside a Council

2021-06-21Deep Dive

Is Mining in Bitcoin Profitable?

Bitcoin is dubbed the key to great wealth. As for the investment in this regard, two methods can be adopted at present. Purchasing via exchanges is more convenient and faster but costly and highly risky while mining is time-consuming yet with lower risks. Therefore, is mining able to enrich traders？ The answer can be found herein.　　As jargon in the cryptocurrency field, mining refers to the process of producing Bitcoin via complex hashing algorithms and strong cryptography. With the system generating a block every ten minutes, the first miner who finds this block can have the right to add valid blocks to this blockchain. In this case, mining is profitable because miners can obtain Bitcoin as a reward in the wake of completing their work.　　The number of miners is increasing whereas Bitcoin is experiencing a crunch. A machine featuring higher performance is necessary for a trader who wants to profit more from Bitcoin. Returns are influenced by differences in prices, energy consumption, and processing power.　　In addition, the majority of miners choose to pool resources, sharing their processing power over a network, in a bid to guarantee the stability of their profits. This operation is quite understandable as it can protect them

2021-06-18Deep Dive

DeFi focused: Grayscale exploring 13 more crypto assets for its trusts

Institutional asset manager Grayscale has announced 13 more crypto assets are currently under consideration for its suite of crypto investment trust products.　　Revealed on June 18, the prospective assets mainly represent the decentralized finance (DeFi) sector, including 1inch, Bancor, Curve, Kava, Kyber Network, Loopring, Polygon, Ren, Universal Market Access, and 0x.　　The native tokens of high-speed scalable blockchain networks Solana, Near, and Dfinity have also been added to Grayscales list of considered cryptocurrencies.　　The new additions bring the total number of assets being explored by Grayscale to 31. Grayscale currently offers products tracking the performance of 13 different assets.　　Grayscale emphasizes that “not every asset under consideration will be turned into one of [its] investment products,” and that certainly appears to have been the case for previously announced assets under consideration such as Cardano, Eos, and Tezos.　　Grayscale did introduce five new trusts on March 17, launching products for Basic Attention Token, Chainlink, Decentraland, Filecoin, and Livepeer. These five trusts currently represent just 0.1% of Grayscales $34.4 billion in assets under management (AUM).　　According to CoinShares, Grayscales trusts represent 75% of a total of $44.3 billion worth of assets managed in institutional crypto investment products.　　The Grayscale Bitcoin Trust represents 73% of Grayscales total AUM (and more

2021-06-18Deep Dive

Social Sentiment Indicators Explained: What are They and How Do They Work?

Social Sentiment Indicators (SSI) have become popular analysis tools for modern-day businesses across the globe. Today, most companies leverage SSI to understand their performance and build on efficient marketing strategies. So, how do SSI work, and why are they rising in popularity amongst individuals and corporations？ This article will answer both questions and give a detailed highlight of the upcoming use of SSI within the burgeoning crypto market as well.　　We live in a world where social media is the fundamental means of communication, with Facebook and Twitter dominating the scene. Both platforms host millions of daily active users who leverage social media for various reasons. However, at the core, most people use social media platforms to share their views or communicate with their loved ones. Well, at least until recently, we are now seeing a paradigm shift with social media playing a significant role in the investments and marketing industry.　　A recent report by the CFA institute highlights the growing influence of social media in today‘s investing culture, giving examples of the Gamestop stock price surge and Elon Musk’s tweets impact on Bitcoin and Dogecoins prices. It is also noteworthy that the influencer marketing niche is now worth an estimated $5-10

2021-06-18Deep Dive

Mark Cuban calls for stablecoin regulation in wake of Iron Finance 'bank run'

Billionaire investor and DeFi proponent Mark Cuban has called for stablecoin regulation after losing money on what he dubbed as a “rug pull” on the Iron Finance protocol.　　According to Iron Finance, the partially collateralized stablecoin project was the subject of a “historical bank run” that resulted in the price of the IRON stablecoin moving off peg. As a consequence, the price of Irons native token TITAN crashed by almost 100% over two days from its all-time high of $64.04.　　Speaking with Bloomberg on June 17, Cuban blamed himself for “being lazy” and not doing enough research, but also raised questions surrounding the regulation of stablecoins:　　“There should be regulation to define what a stablecoin is and what collateralization is acceptable. Should we require $1 in U.S. currency for every dollar, or define acceptable collateralization options, like U.S. treasuries.”　　“Even though I got rugged on this, its really on me for being lazy. The thing about DeFi plays like this is that its all about revenue and math and I was too lazy to do the math to determine what the key metrics were,” Cuban said.　　Kraken CEO Jesse Powell has slammed Cuban on Twitter, highlighting that a lack of stablecoin regulation is not the

2021-06-18Deep Dive

DeFi Meets Charity: Munch and The Giving Block Collaborate in a Fresh Tide of Crypto Philanthropy

Munch, a fast-growing Decentralized Finance (DeFi) project has announced a recent collaboration with crypto-based charity organization, The Giving Block. This move targets greater impact in the crypto donations industry.　　On June 10, Project Munch tweeted, We are ecstatic and extremely proud to join The Giving Block family. There is no limit to the amount of good we can do and lives we can impact together. #charity #nonprofit #cryptogiving　　The new collaboration links the growing community of The Giving Block, made up of nearly 200 nonprofits, with the automated donation tool of the Munch Protocol. It will also allow new nonprofits to receive Munchs donations directly when they create a profile on The Giving Block platform.　　In the new wave of crypto philanthropy, it is assumed that if each cryptocurrency participant donates 1% of their assets to charities, given the current capitalization of the global cryptocurrency market, about $17 billion could be collectively raised.　　While crypto donors have to make important decisions about how and where to give, the work begins further within the industry itself, which underscores the essence of the partnership.　　Munch and The Giving Block Collaborate　　In recent years, there has been a trend towards using cryptocurrencies for charitable purposes. Not only do many

2021-06-18Deep Dive

Cardano’s Charles Hoskinson admits to “spying” on Polkadot’s technology

In comparing Cardano and Polkadot, Input Output Global (IOG) CEO Charles Hoskinson gave insight into the workings of the cryptocurrency industry, saying projects snoop on each other all the time.　　Speaking on the Lex Fridman Show, Hoskinson also praised Polkadots focus on the commercial aspect of their operations. In particular, how they curate and manage their commercial infrastructure.　　At present, Cardano is early stages of tackling a scaling challenge using Polkadot as inspiration.　　Cardano boss spills the beans on industry spying　　When it comes to “spying” on the competition, Hoskinson admits that Cardano is actively engaged in analyzing the code from rivals to borrow concepts.　　He said his team would soon do a private fork of Polkadot to play around with the code for comparative analysis.　　“We actually have a whole group of people that do business intelligence and comparative analysis. Were getting to a point where we want to start eventually forking their code and running private versions of it. And just playing around with things, and getting better.”　　Whats more, Hoskinson added that business intelligence is an industry-wide phenomenon. He gave the example of Ethereum developers Consensys doing this on the EOS code and producing a report that rubbished their claims.　　“ConsenSys actually does this, they

2021-06-18Deep Dive

Goldman Sachs: Bitcoin Not an 'Investable Asset Class', Dogecoin Ideal for 'Speculation'

In brief　　Goldman Sachs has shown more interest in Bitcoin recently.　　But a new report by the investment bank says that it is still too risky to invest in Bitcoin and other cryptocurrencies.　　Investment bank Goldman Sachs has said in a report issued earlier this week that cryptocurrencies are not a “viable investment”—despite showing interest in Bitcoin and Ethereum recently.　　Many cryptocurrency enthusiasts argue that Bitcoin can work as a hedge against inflation because it is scarce: there is a finite supply of Bitcoin while there is a seemingly infinite supply of fiat money like the US dollar.　　But Goldman Sachs thinks differently. The bank said in its report, “Digital Assets: Beauty Is Not in the Eye of the Beholder,” that while some market analysts and investors may consider Bitcoin to be “digital gold,” that itself means next to nothing to Goldman:　　“The argument that Bitcoin and cryptocurrencies are a digital version of gold does not confer any value to Bitcoin and other cryptocurrencies, because gold itself is not a consistent or reliable store of value,” the report said, adding that US equities are a far better bet as a hedge against inflation.　　What‘s more, the bank isn’t buying the “digital gold” narrative to begin with: “This

2021-06-18Deep Dive
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