Crypto Guides, Knowledge & Insights

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

Kenapa ETH Bakal Mengganas ???

Pada masa ini, pesaing terbesar Ethereum adalah Bitcoin. Oleh kerana China telah mengetatkan undang-undang cryptocurrencynya, dan Ketua Eksekutif Tesla Elon Musk mengubah pendiriannya terhadap Bitcoin, ia menyaksikan kejatuhan nilainya pada bulan Mei, meletakkan Ethereum sebagai tumpuan.　　Beberapa pelabur dan pengkritik meramalkan bahawa Ethereum berpotensi mengambil alih Bitcoin pada masa akan datang. Menurut laporan, pada 6 Jun; minggu lalu, Bitcoin meningkat 0.48%, manakala Ethereum meningkat 13.54%. Pada tahun 2020, kira-kira AS $ 231 juta Ethereum diperdagangkan di bursa spot harian. Sepanjang tahun lalu, Ethereum meningkat lebih dari 900%, sedangkan Bitcoin hanya menyaksikan kenaikan 275%. Mungkin ada banyak sebab di sebalik lonjakan Ethereum.　　Harga BTC Matang Lebih Awal　　Pandemi itu menyebabkan penurunan harga saham tahun lalu, tetapi harga Bitcoin terus meningkat. Harga saham untuk beberapa syarikat mula turun pada tahun 2020 kerana penguncian dan rantaian bekalan terancam.　　Beberapa pemimpin perniagaan dan pelabur mula membeli cryptocurrency; sejak laporan menunjukkan nilai pasaran kripto global mulai meningkat dari Mac 2020. Oleh kerana Bitcoin adalah cryptocurrency yang paling terkenal dan terbesar di dunia, kebanyakan pembeli melabur di dalamnya. Kira-kira setahun selepas itu, sejak harga Bitcoin sudah matang, mencapai kapitalisasi pasaran lebih dari satu trilion dolar, para pelabur mencari perkara terbaik berikutnya, iaitu Ethereum.　　Penerimaan Oleh Tech Giants　　Organisasi berskala besar seperti Tesla

2021-06-18Deep Dive

Cardano Founder Charles Hoskinson Makes Compelling Case For Tesla Adopting ADA Instead of Bitcoin

According to IOHK CEO Charles Hoskinson, Tesla should ditch bitcoin en masse and instead turn to the worlds fifth most valuable token, Cardano (ADA). During a podcast by MIT researcher Lex Fridman, Hoskinson explained why he believes Cardano is far superior to bitcoin.　　Tesla Should Choose Cardano If It Truly Cares About Sustainability: Hoskinson　　Massive carbon footprint concerns regarding the energy-hungry, Proof-of-Work consensus algorithm that BTC relies on have been going on for years. Debates revolving around the top crypto‘s energy consumption ballooned after Tesla CEO Elon Musk announced in May that the electric maker would stop accepting bitcoin for payments owing to the network’s high energy usage.　　Musk revealed that he would look at BTC alternatives that consume less than 1% of its energy per transaction and most people suggested Ripples XRP and Cardano (ADA) as they are more sustainable than bitcoin due to their less-intensive mining and transactions systems. Interestingly, Hoskinson even invited Musk to his farm in Longmont to “finally have the Cardano conversation”.　　In his five-hour-long interview with Fridman on June 16, Hoskinson argued that Cardano should be the first choice for Tesla if they truly cared about sustainability and carbon reduction.　　“Well, if they truly care about alternative energy, sustainability,

2021-06-18Deep Dive

How this crypto project is bringing all things DeFi under one roof

An all-in-one DeFi portfolio management platform aims to streamline trading and analysis on decentralized platforms.　　A crypto project says it is changing the game of decentralized portfolio management — and delivers an all-in-one platform that brings everything users need under one roof.　　DEXKIT has been built to provide a genuinely user-friendly way of managing and trading digital assets. The application features a DEX aggregator, professional exchange, NFT marketplace, and dashboard where users can monitor asset performance.　　The DSwap aggregator continually monitors more than 30 decentralized exchanges on the Binance Smart Chain and Ethereum networks, delivering up-to-the-minute crypto data. Swaps can be filled by multiple protocols at once which can result in more tokens for trades. This is complemented by a full-suite, professional trading platform that unlocks the best prices and liquidity from top DeFi protocols and decentralized exchanges.　　Features that help DEXKIT stand head and shoulders above the competition include the ability to place limit orders on the ETH network without gas fees. Given how transaction costs have been spiraling out of control on this blockchain, this will be music to the ears of those who have been struggling to contend with how expensive trades have become.　　DEXKITs infrastructure will also support stop limits and

2021-06-18Deep Dive

Bitcoin Bubble Has Not Popped Despite Huge Move to the Downside: Bank of America Survey

The majority of fund managers surveyed by Bank of America Corp. think that Bitcoin (BTC) still has plenty of gas in the tank, despite its recent crash from an all-time high of $64,800 to a low of about $33,450.　　The poll, which ran from June 4th to June 10th and involved 224 investors with $667 billion under management, reveals how professional managers currently see Bitcoin as a viable asset class amid regulatory uncertainties and given the volatile nature of cryptocurrencies.　　According to Bloomberg, about 80% of the respondents think the crypto markets will continue to be frothy and speculative in the months to come.　　The poll shows the most popular trade of the moment is commodities, followed by “long Bitcoin.”　　Institutional Investor Hall of Famer Rich Bernstein shares the sentiment of the majority of fund managers. In an interview with CNBCs Trading Nation this week, he describes the rush to buy Bitcoin and other crypto assets as dangerously parabolic.　　“Bubbles differ from speculation in that bubbles pervade society. They go outside the financial markets.”　　“Certainly with cryptocurrencies now, and most likely with most technology stocks, youre starting to see that happen where people are talking about them at cocktail parties.”　　Veteran hedge fund manager Paul Tudor Jones

2021-06-18Deep Dive

Thinkium Integrates Commerce to Curb Financial Risks in the DeFi World

Thinkium, a popular public chain project for community autonomy, considers it necessary to prevent financial risks in the DeFi Sector.　　DeFi, being a very essential financial instrument in the recent economy, is being faced with certain challenges that have the tendency of putting the wealth of many individuals at stake.　　This has geared concerns among institutions within the ecosystem, such that they are seeking possible ways to curtail certain loopholes that are causing setbacks in the industry.　　While soughting for possible measures to curtail the inherent risks faced with the digital financial market, Thinkium has decided to combine with commerce in order remediate the issue.　　Thinkium has gained massive attention and has become very popular in the industry as it is considered as a new star omnipotent public chain.　　 Thinkiums Approach to Commerce　　According to a recent press release Thinkium in its design to act as an underlying infrastructure for the blockchain industry, believes that its decision of combining with businesses can solve the inherent problems of DeFi.　　The project believes physical businesses are quite isolated from the digital finance system. Thus, it aims to fill in the gap between the physical business world and the digital world, thereby initiating a new business world of Web

2021-06-18Deep Dive

iTrustCapital Gains Security Boost with Coinbase Custody Integration

Cryptocurrency retirement savings platform iTrustCapital has announced it is integrating Coinbase Custody services to provide its clients with an additional layer of security. iTrustCapital provides IRAs (individual retirement accounts) and other qualified retirement funds with 24/7 access to digital cryptocurrency assets and precious metals through its tax-advantaged, IRS compliant, trading platform. The new integration helps the company to scale amid a period of significant growth, as US consumers seek new ways to diversify their retirement portfolio into crypto as a burgeoning asset class.　　Like many other businesses in the cryptocurrency sector, iTrustCapital has been undergoing substantial growth as interest in the markets has heated up over recent months. According to a press release published by the firm, the company now has over $1 billion of assets under management and has exceeded $1.5 billion in total trade volume this year, while offering the lowest Crypto IRA trading and monthly account fees available.　　Therefore, the company has sought out the services of Coinbase Custody to further strengthen the security of client funds against attacks.　　Staying Ahead of the Security Game　　Digital asset fund security remains a critical issue for the industry as a whole. In 2020, hackers stole a total of $3.78 billion from exchanges, wallets,

2021-06-18Deep Dive

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