Crypto Guides, Knowledge & Insights

Crypto Exchange Kraken Disables Margin Trading for Some U.S. Residents

The crypto exchanges decision to restrict margin trading comes as a result of “regulatory guidance.”　　Crypto exchange Kraken has announced that it will disable margin trading for some U.S. residents from June 23, “in light of regulatory guidance.”　　Margin trading involves an investor borrowing funds from a third party—in this case, the exchange—to make trades for more than they actually own. Kraken allows traders to trade margin up to five times the initial value.　　According to a blog post by Kraken, U.S. residents will need to be verified at the Intermediate level on the exchange and self-certify as an Eligible Contract Participant (ECP) under U.S. law to qualify for margin trading.　　An ECP is an individual or group thats permitted to engage in financial transactions that arent open to retail clients. To qualify, individuals are required to have assets of $10 million invested on a discretionary basis, while institutional clients need to have $10 million in total gross assets.　　From June 23, Kraken users who dont meet those requirements will only be able to reduce, close out, or settle existing margin positions and wont be able to open new ones.　　Krakens decision to restrict margin trading follows similar moves by other exchanges. In November 2020, Coinbase

2021-06-11Deep Dive

Bitcoin Mining Farms in El Salvador to Utilize Clean, Cheap, Renewable Volcanic Energy, President Bu

Bitcoin mining farms operating out of El Salvador will soon be able to access and utilize clean, affordable, and renewable energy from the countrys active volcanic activity.　　This latest development was announced on Twitter by President Nayib Bukele who said that the country‘s state-owned geothermal electricity company LaGEO will be in charge of the project. LaGEO will be authorized to offer such farms with abundant zero-emissions energy tapped directly from the country’s active volcanoes.　　“Ive just instructed the president of @LaGeoSV (our state-owned geothermal electric company) to put up a plan to offer facilities for #Bitcoin mining with very cheap 100% clean 100% renewable 0 emissions energy from our volcanoes.”　　President Bukele: “This Is Going To Evolve Fast!”　　Shortly after the announcement, President Bukele further added that engineers working on the volcanic activity site have just completed drilling a new well that will provide approximately 95 Megawatts of clean and zero-emissions energy.　　As a result, a new Bitcoin mining Hub is going to be set around the new well which is reportedly spewing pure water vapor, according to a video shared by the President on Twitter.　　“Starting to design a fill #bitcoin mining hub around it.”　　Commenting on the exciting news, founder at Morgan Creek digital assets

2021-06-11Deep Dive

Privacy-focused platform says it solves burning issues in blockchain and DeFi space

A privacy-enabled blockchain platform delivers high levels of scalability and the ability to tokenize data, unlocking a plethora of powerful use cases.　　A privacy-enabled blockchain platform says its goal is to build a responsible data economy and usher in a new era for this technology.　　Oasis Protocol says it brings privacy and scalability to DeFi — ensuring that this new approach to finance can expand beyond early adopters to reach the mass market.　　Controlling privacy　　Support for confidential smart contracts is a key differentiator of the Oasis Network. The contracts play an important role in preserving privacy by allowing a trustless decentralized blockchain without having to make that smart contracts data public. This leaves the network able to solve emerging problems in the DeFi space like front-running and market manipulation while also making advances in the tokenization of data assets.　　Tokenized data can also solve some of the burning issues that exist in todays online world, including how personal information is monetized. According to Oasis, the Parcel SDK allows the development of tradable data-backed tokens allowing everyday users to give explicit permission to apps that want to analyze their data — and control how sensitive information about them is consumed. This would allow novel ways

2021-06-11Deep Dive

Polis Diraja Malaysia Rampas 255 Mesin Bitcoin Haram

Sebanyak 255 mesin bagi aktiviti melombong mata wang digital bitcoin dengan nilai anggaran RM382,500 dirampas polis dalam tiga serbuan di sekitar daerah Tampin.　　Ketua Polis Daerah Tampin, Superitendan Anuwal Ab Wahab berkata, serbuan pada Rabu jam 6 petang hingga 10.15 malam itu dilakukan oleh Bahagian Siasatan Jenayah Ibu Pejabat Polis Daerah Tampin dengan Tenaga Nasional Berhad (TNB) selepas hasil risikan dan maklumat diterima.　　Tiga serbuan dilakukan ke atas tiga buah premis di kawasan Gemas dan Gemencheh yang dipercayai menjalankan aktiviti bitcoin.　　“Pemeriksaan mendapati kesemua premis dijadikan lokasi aktiviti bitcoin dan terdapat 255 buah mesin keseluruhannya,” katanya dalam satu kenyataan pada Khamis.　　Menurutnya, turut ditahan seorang lelaki tempatan berusia 25 tahun dipercayai penjaga premis.　　Ujarnya, polis turut mengeluarkan kompaun terhadap lelaki terbabit kerana melanggar prosedur operasi standard (SOP) Perintah Kawalan Pergerakan (PKP) 3.0.　　Anggaran kerugian yang ditanggung TNB bagi aktiviti tersebut iaitu RM444,366.77.　　“Kes disiasat mengikut Seksyen 427 Kanun Keseksaan dan Seksyen 37 Akta Bekalan Elektrik 1990,” katanya.　　Sumber : Sinar Harian

2021-06-11Deep Dive

SEC Again Warns Investors Against Bitcoin Futures Funds

The U.S. Securities and Exchange Commission (SEC) reiterated the risks of investing in bitcoin (BTC) futures-focused funds with a staff note on Thursday that underscores the uphill battle that U.S. bitcoin exchange-traded funds (ETFs) face.　　In an emailed investor bulletin obtained by CoinDesk, staffers “urge investors considering a fund with exposure to the Bitcoin futures market to weigh carefully the potential risks and benefits of the investment,” the note said, warning investors that the cryptocurrency as an investment is “highly speculative.”　　This is the second recent warning the SEC has sent out in regards to Bitcoin‘s risk. Last month, it sent out a note to investors highlighting that it may not be safe yet to support an exchange-traded fund under the Investment Advisers Act of 1940 because of Bitcoin’s volatility.　　Most bitcoin ETF applications are filed under a different law, the Securities Act of 1933, due to differences in how these laws treat such applications. The SEC has long warned against filing bitcoin products under the 40 Act.　　This comes at a time when large traditional banks and investment funds increasingly announce their interest in cryptocurrencies, both personal and corporate. In March, investment bank Morgan Stanley started offering clients access to Bitcoin funds and

2021-06-11Deep Dive

Ronaldinho menyertai KISHU sebagai duta jenama

Sekali lagi dunia matawang kripto digegarkan lagi oleh token meme. Kali ini giliran KISHU INU pula mencetuskan suasana meriah bagi peminat-peminat token meme seluruh dunia.　　Dengan penyertaan bintang bolasepak terkenal Ronaldinho yang sememangnya mempunyai ramai peminat tersendiri, perkara ini menjadi bualan hangat sejak pagi tadi mengenai isu ini. Ramai di kalan pemain kripto mula menyebarkan tweet-tweet dan poster yang dikaitkan token KISHU dengan Ronaldinho.　　Adakah ini musim token meme menjulang kejuaraan mamaut hati kesemua pemain kripto ？ kekal bersama WikiBit untuk mendapatkan info-info yang berguna untuk anda. Menurut data daripada WikiBit, sepenuh masa harga token KISHU telah mencecah 504.97% kenaikan harga dengan jumlah market cap RM1.2164 billion hari ini sejak dilancarkan.

2021-06-11Deep Dive

From A Mere Speculative Crypto to A Prestigious Digital Asset: See How Bitcoin Is Upgrading

The tides are turning for the oldest and strongest crypto, and according to Mike McGlone, it‘s just started. The Bloomberg analyst on Tuesday tweeted a clear index chart of Bitcoin’s projections showing the growing trend of its mainstream adoption.　　Miami – The Bitcoin City　　If theres one thing that further confirms this assertion, it is the recently held Miami Bitcoin conference. Mayor Francis Suarez (the Mayor of Miami) pulled a stunning 50,000+ attendance as chief host, featuring the creme de la crème of the crypto world. Everyone from Jack Dorsey to Cameron Winklevoss spoke about the prospects of bitcoin in the future, lauding the efforts of the city and encouraging participants to buy the dip.　　Miami is leading the charge. The city is already punctuated with many Bitcoin ATMs and the government is finalizing plans to fully digitalize the city by making payments and accepting taxes in Bitcoin.　　Mainstream Acceptance For Bitcoin　　There were over 19,000 whales in attendance at Miami 2021. As an aftermath of the conference, Mike McGlone has shown us a positive Bitcoin index signaling an upward trend in mainstream acceptance. Bitcoin may be well on its way to stand shoulder up Gold as a new and competitive asset class. This, he

2021-06-11Deep Dive

The global corporate tax rate: Crypto savior or killer?

At a meeting in London earlier this month, the finance ministers from the G7 — the United States, Japan, Britain, Germany, France, Italy and Canada — unanimously agreed to begin creating the framework for a global corporate tax rate.　　The framework laid out a “two pillar” principle. The first pillar ensures that companies that make a 10% profit margin would be subject to the tax rate. The second pillar ensures that countries will charge a 15% minimum tax rate. Under all of this, the new rules will focus on where the profit was made and not where the company is based — the idea being that companies are discouraged from moving money around the globe, or providing services in one country from another that has a cheaper tax rate.　　Does legal mean moral？　　The concept of a global corporate tax rate is nothing new. With companies such as Google, Amazon, Facebook and Apple making billions of dollars in revenue and paying little to no tax, regulators and governing bodies have attempted to close the loopholes used by these large multinationals.　　The practice of making money in one country and then moving it to another in order to pay less taxes or avoid them all

2021-06-11Deep Dive

NBC News Declares Cardano The Most Significant Proof-Of-Stake Crypto In The Cryptoverse

If you‘ve gone anywhere near the internet the last few weeks, you’ve probably discovered that the debate around the energy consumption of bitcoin and other Proof-of-Work (PoW) cryptocurrencies has intensified.　　The increased scrutiny came after Tesla announced that it would be discontinuing BTC payments owing to environmental concerns. The electric cars shocking about-face contributed to a vicious sell-off that saw bitcoin tumble more than 50% from its all-time highs posted in April.　　Many crypto enthusiasts have argued that approximately 75% of bitcoin mining comes from renewable energy, but this has done little to sway the cryptos loudest critics. With growing attention on the environmental impact of Proof-of-Work, cryptocurrencies like Cardano are emerging as attractive alternatives.　　Mainstream publication NBC News has also chimed in on the energy discussion. NBC News published an article titled “Cryptocurrency goes green: Could ‘proof of stake’ offer a solution to energy concerns？”　　The publication noted that the price of Cardano (ADA) was able to resist the uncomfortable bearishness that engulfed the crypto market in May. ADA soared to its present record high while its peers plummeted, leading many to wonder what was behind the impressive rally. The cryptocurrency, however, later took a cue from the market and plunged.　　NBC postulated in

2021-06-11Deep Dive

Bitcoin Mining Firm Hut 8 Approved to List on Nasdaq

Major North American bitcoin mining firm Hut 8 Mining has been approved for listing on Nasdaq under the ticker symbol HUT. The company is also listed on the Toronto Stock Exchange (TSX).　　Hut 8 Mining Corp. announced Thursday that its common shares have been approved to list on the Nasdaq Global Select Market (Nasdaq) under the ticker symbol HUT. Nasdaqs website explains that the global select market “has the highest initial listing standards of any exchange in the world.”　　Hut 8 Mining describes itself as “one of North America‘s oldest and largest innovation-focused bitcoin miners.” It is incorporated under and governed by the Business Corporations Act of British Columbia. Most of the company’s directors and officers reside principally in Canada.　　The company is also listed on the Toronto Stock Exchange (TSX) under the symbol HUT. It was the first publicly traded bitcoin miner on the TSX exchange. Hut 8 says that its TSX listing will remain unchanged.　　The Hut 8 Mining shares are already quoted on the OTCQX market under the symbol HUTMF. Hut 8 Mining is ranked 11th (of 10,000) on the 2021 OTCQX Best 50.　　The company announced its plans to list on Nasdaq on May 12 after it filed the F-10 form

2021-06-11Deep Dive

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