Crypto Guides, Knowledge & Insights

Ark Investment tips $20M into Grayscale Ethereum Trust

Cathie Woods Ark Investment has reported holdings of 639,069 shares in Grayscales Ethereum Trust for Q1 — currently worth around $20.9 million at todays prices.　　The news of Arks major investment into Ethereum was seen as a bullish sign by Ethereum and DeFi proponents. Mythos Capital founder and Bankless author Ryan Adams emphasized how significant he saw the development:　　“Remember when you told you the institutions would never buy ETH？ They keep underestimating this asset. ETH IS MONEY.”　　Ether bulls have been growing noticeably more confident recently, with the co-founder of venture capital firm Framework Ventures, Vance Spencer tweeting earlier today:　　“There were many times when crypto would not have been strong enough to survive without BTC as the dominant narrative. I no longer believe this is the case. Regime change is coming.”　　Cointelegraph reported on May 5 that institutional managers bought $30.2 million worth of Ethereum at the end of April, bringing their total holdings to an all-time high of $13.9 billion.　　Despite the excitement around the ETH buy, Ark‘s Q1 filing with SEC earlier this month shows the firms portfolio still heavily leans in Bitcoin’s favor. Ark reported holdings of 8.6 million shares in Grayscales Bitcoin Trust, worth more than $298 million as of

2021-05-19Deep Dive

Why The SEC Opposes XRP Holders’ Involvement In Action Against Ripple

XRP holders have been trying to gain a voice in the action against Ripple Labs and some of its executives filed by the Securities and Exchange Commission (SEC). However, the regulator has opposed by any means at its disposal.　　In a reply memorandum filed on May 17th, the Commission reiterated its position against the motion to intervene presented by the collective called “Movants”, 6 XRP holders in the representation of their community.　　The SEC claims that these investors are “improperly” trying to take a role in the action via an “amici curiae”, a form of legal instrument that would grant the holders a status of assistance in the case. Thus, they could provide expertise and their unique point of view as investors.　　The regulators claim that the XRP holders cant “offer any unique perspective”, information or additional details that could provide value in court. Also, the Commission added that the Movants have a bias point of view and “advocate for the same outcome as Defendants”, Ripple Labs and executives Brad Garlinghouse and Chris Larsen. The documents claims:　　Seeking to inject themselves as “third-party defendants” in this action, Movants would act as “friends” of Defendants, not true “friends of the court,” if permitted to participate

2021-05-19Deep Dive

Is Cardano Really The Best Candidate to Replace Bitcoin at Tesla?

Last week, cryptocurrency users watched the market decline severely after Elon Musk announced that Tesla has shut down Bitcoin payments in the meantime, until “mining transitions to more sustainable energy.”　　With Bitcoin losing billions over Musk‘s announcement in minutes, it is clear that there is a major gap in the market that needs to be filled. As Musk begins his search for a new cryptocurrency, one that uses less than 1% of Bitcoin’s energy, many project developers are presenting their assets as a fitting candidate.　　However, during the recent bloodbath, while many altcoins were recording major losses, Cardano (ADA) was moving in the opposite direction as prices hit a new all-time high of over $2 while the other leading cryptocurrencies saw significant losses.　　Not long after hitting that price mark, Cardano bulls went crazier as trading volume pumped the asset to $2.13, with over 14% in daily gains and nearly 33% in weekly gains.　　ADAUSD Chart By TradingView　　Keep in mind that many other assets in the top ten categories in terms of market value have only begun correcting losses at a much slower pace. So why is Cardano taking over so quickly？　　All fingers point to the “green energy” rally started by the Cardano Foundation

2021-05-19Deep Dive

US FDIC seeks insight on banks’ role in cryptocurrency markets

The United States Federal Deposit Insurance Corporation is looking for information and public comments on banks cryptocurrency-related activities.　　The FDIC is the major provider of deposit insurance to U.S. commercial and savings banks, originally created to address bank runs during the Great Depression.　　On Monday, the FDIC officially announced a request for public input to get more information on the industry and consumers interests in the market as well as the role of banks in the digital asset ecosystem.　　“Banks are increasingly exploring several roles in the emerging digital asset ecosystem, such as being custodians, reserve holders, issuers, and exchange or redemption agents; performing node functions; and holding digital asset issuers money deposits,” the FDIC stated.　　The corporation is particularly looking to improve its understanding of digital asset use cases in financial markets and intermediation, as well as settlement and payment systems. The FDIC is also seeking input on the risk and compliance management of insured depository institutions and their affiliates in conducting digital asset-related activities.　　FDIC chairman Jelena McWilliams noted that the public input will help the agency to better understand the market in terms of regulations.　　“At the FDIC, we are laying the foundation for the next chapter of banking by ensuring we have

2021-05-18Deep Dive

Could Flared Natural Gas Be A Solution To Bitcoin Mining?

As concerns about the energy consumption of Bitcoin continue to rise, a number of alternative solutions have been presented. Flared natural gas has been posited as a possible solution to the high emissions produced by Bitcoin mining farms.　　This week saw Bitcoin dropping to a low of $42,200, fueled by a comment by Elon Musk on Twitter that revealed Tesla would no longer be accepting Bitcoin in payment. While he later clarified that Tesla had no plans to sell their Bitcoin, Musks comments followed a decision by the billionaire to no longer support energy produced from coal.　　Flared natural gas, also known as a flare stack, is the controlled burning of natural gas that could represent a potential alternative to energy produced from coal. Oil producers flare natural gas when they are unable to build a pipeline or find themselves unable to process the natural gas. In other words, a flare stack is ‘wasted energy’.　　The international Energy Agency has estimated that in 2019 flared natural gas released the same amount of carbon dioxide as Italy. Rather than using high carbon producing energy sources, a number of crypto pundits have suggested using flared natural gas to power Bitcoin mining; offering oil producers a

2021-05-18Deep Dive

Revuto Private Sale Totals $1.7M Ahead of Cardano Launch

Revuto, a subscription management service accepting crypto payments, has raised $1.7 million in a private sale. The round was led by BlackDragon VC and included a series of angel investors who contributed to the haul over the space of a week.　　Revuto is now preparing for a launch on Cardano as the first dApp to run on the new blockchain. Revuto can count this sale as yet another feather in its cap after gaining over 1 million pre-launch sign-ups based on referrals over a two-week period.　　Driving Cryptocurrency Mainstream　　Delighted by the recent turn of events, Revuto CEO Josipa Majic said, “We‘re grateful to our private investors, including BlackDragon, for believing in Revuto’s team and tech, and for sharing our vision of making crypto spendable in everyday life. Having the right funding and investors that back our long term vision is crucial, and thus we are delighted to achieve this milestone and are excited for what lies ahead.”　　The use of cryptocurrency as payment for services has been limited to a few vendors who have taken the risk of accepting the digital currencies, comprising local businesses for the most part. With Revutos token payment option, a wide range of digital assets can be converted

2021-05-18Deep Dive

How Turning Stock Sentiment Could Deal A Death Blow To Bitcoin

Bitcoin is now trading in the low $40,000 range after a swift and sharp sentiment change. With the top cryptocurrency on the ropes currently, a massive breakdown in the stock market could be the fatal blow that puts the final nail in the bull market coffin.　　Heres how turning stock market sentiment, a change in risk appetite, regulation, and much more could be devastating for Bitcoin.　　The Dow Jones Looks Heavy, Why It Could Weigh On Crypto Bulls　　It hasn‘t just been crypto that’s been setting new high after high. The stock market has also been in a full “froth” with explosive runs in company shares like GameStop, to hot button IPOs, and SPACs left and right.　　Stimulus money flowing let risk appetite grow ravenous, pushing top stock indices and the biggest cryptocurrencies like Bitcoin and Ethereum to record highs.　　But thanks to a number of factors, risk appetite is quickly turning, it is has the Dow Jones – a barometer of the success of the stock market and economy – looking heavy.　　Factors include recent comments from Fed Chair Jerome Powell, and warnings from economists that the bubble was boiling over. Even the SEC issued a warning about speculative assets like Bitcoin. With the forceful

2021-05-18Deep Dive

EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

Ernst & Young is investing $100 million into targeting enterprise DeFi with its latest suite of Blockchain Analyzer products.　　“Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications.　　On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications.　　“The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY announced, adding:　　“It offers a blend of compliance testing with traditional code review, and it supports customized smart contract tests and simulation of mainnet transactions.”　　Yael Tamar, the co-founder of asset tokenization firm, SolidBlock, recounted using the new studio to review smart contracts for property-backed security tokens, stating: “It was very beneficial to simulate how our contracts could perform on the network prior to deployment and test the contracts against widely known attacks in this market.”　　EY also revealed that Italian beer company, Birra Peroni, is using its Ethereum-based supply chain solution, “EY Opschain Traceability.” Peroni is

2021-05-18Deep Dive

Xinjiang Police Vow to Fight Crypto Fraud, Launch Public Awareness Drive

The police in the Xinjiang Uyghur Autonomous Region, China, have launched a campaign that they hope will help wipe out crypto scams.　　Per the Legal Daily, the police are concerned that “illegal fund-raising, online pyramid schemes and other cases of economic fraud” are on the rise in the region. The police added that crypto-related fraud and illegal loan services were on the rise and could end in “disastrous” results for those who fall for them.　　The police have sought to fight back with a large-scale public awareness campaign in Ürümqi, the regions capital and largest city, held over the weekend. Officers took to the streets to hand out flyers, brochures, and other promotional materials to citizens. The material, police said, was created in an effort to help residents in the region to learn how to spot pyramids or crypto scams, as well as other online fraud.　　Illegal multi-level marketing (MLM) schemes have experienced a boom in popularity of late in China – with many taking a distinctly crypto and blockchain flavor this year, as crypto prices have risen and even Chinese companies have cautiously moved into the crypto space.　　A huge glut of bogus digital yuan scams have also appeared throughout the nation –

2021-05-18Deep Dive

How Fish.Pro Will Help Traders To Maximize Their Profits

The crypto market can be uncertain and unpredictable. Many of the best crypto traders remain profitable by sharing alpha information on potential plays, exciting projects, and relevant data. Fish.Pro is a new revenue-sharing platform, created with the objective of becoming the go-to hub to discover crypto treasure islands. Hidden gems that would otherwise go unnoticed.　　Launch on May 13th, Fish.Pro is set to be a portal to meet the demand of crypto users and attract new ones into the crypto space. The project will build products to disrupt the model used by trading platforms in the crypto industry.　　In doing so, they will tear down the barriers, pain points, and obstacles that crypto traders face today. Thus, Fish.Pro has features that will allow users to share revenues and discover valuable projects to optimize their gains.　　The exchange will support Bitcoin, Ethereum, Litecoin, Dogecoin, Cardano, EOS, and many of the most popular cryptocurrencies in the industry. Unlike traditional trading platforms, where positions and trades are isolated, Fish.Pro will have interactive channels for the community to share data, personal opinions, and create teams. The platform will consider the opinion of users for improvements.　　Fish.Pro And A New Wave Of Adoption　　Fish.Pro was built by a team of

2021-05-18Deep Dive

...

607609

...

737