Cryptonews - World Blockchain News
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Let's exhale Reuters confirmed that all victims of will be compensated for losses at the price of ~ $483.
Now imagine the faces of the victims. Perhaps they should be nominated for the Unluck of the Year award.
As a result, the $9 billion payable turned into $72 million. OK, is the bear market cancelled?
Turkey will introduce transaction taxes on stocks and cryptocurrencies.
Stock transactions will be taxed at 0.01% to 0.03%, while cryptocurrency transactions will incur a 2% service fee.
Previously, Turkey’s Treasury and Finance Minister stated that the government has no plans to tax profits on stocks and cryptocurrency. https://www.bloomberg.com/news/articles/2024-06-05/turkey-has-no-plan-to-tax-profits-on-stocks-crypto-simsek-says
Joe Biden shared his intent to renominate Commissioner Caroline Crenshaw to a second term at the SEC, who is known for her anti-crypto stance:
Voted against the spot Bitcoin ETF
Said wash trading could account for 77.5% of trading volume on unregulated exchanges
Criticized DeFi for lack of oversight and pseudonymity
Within the five-person SEC, despite Gary Gensler’s support for the spot Bitcoin ETFs, Caroline Crenshaw and Jaime Lizárraga voted against it.
If Crenshaw is renominated, the SEC will continue to have two commissioners with a strong anti-crypto stance.
Bitwise released a report predicting that the crypto and AI industries could add a combined $20tr to global GDP by 2030.
The report highlights that Bitcoin miners have all the resources that AI firms need, citing CoreWeave's $1.6bn acquisition of Bitcoin miner Core Scientific at a 55% premium as an example.
Crypto and AI have the potential to intersect in other areas other than mining such as information validation and virtual assistants.
This week's highlights:
November 7 (Mon)
-12:00 Announcement of China's exports, imports, and trade balance
-17:40 European Central Bank President Lagarde Speech
-19:00 Eurozone Finance Ministers Meeting
November 8 (Tuesday)
2022 US midterm elections
-05:40 Fed Master Speech
-17:40 ECB Enria Speech
-19:00 Eurozone retail sales announcement
November 9 (Wednesday)
-02:00 U.S. Department of Energy's Short-Term Energy Outlook
-10:30 China Consumer Price Index (CPI) and Producer Price Index (PPI) announced
-17:00 Fomc member Williams speech
-17:00 European Central Bank Non-Monetary Policy Meeting
-19:00 ECB Elderson Speech
November 10 (Thu)
-00:30 US crude oil inventory announcement
-09:00 Publication of the European Central Bank's monthly report
-21:30 ECB Enria Speech
-22:30 US Consumer Price Index (CPI) released
-22:30 New U.S. unemployment claims announced
November 11 (Fri)
-02:30 Fed Master Speech
-16:00 UK GDP announcement
-16:00 German Consumer Price Index (CPI) announcement
Binance vs. FTX | Over the weekend, Binance announced that it would sell all of its $2.1 billion worth of FTT.
We plan to sell over several months rather than throwing all of our stocks at once, but this mass liquidation of FTT raised the possibility that the FTX exchange might experience a financial crisis and, furthermore, a bank run. Bitcoin's strong upward trend stopped when withdrawing from .
The FTX side said that Binance would receive all the amount that Binance throws at $22, and said that there are more than $10 billion on the undisclosed balance sheet and that it is capable of handling all deposits and withdrawals, so they asked not to spread rumors.
The fight between the two major exchanges has lowered the investment sentiment of Bitcoin, which had been on the uptrend, and we will continue to deliver additional news as updates are made.
This week's highlights
October 24 (Mon)
-16:30 German Manufacturing Purchasing Managers Index announced
-17:30 UK Manufacturing Purchasing Managers Index released
-22:45 US Manufacturing Purchasing Managers Index released
October 25 (Tuesday)
-00:00 U.S. Treasury Secretary Yellen Speech
-17:00 German ifo corporate sentiment index announced
-23:00 US CB Consumer Confidence Index announced
October 26 (Wednesday)
-02:55 Fed Director Wheeler Speech
-09:30 Australian Consumer Price Index (CPI) released
-(Provisional) Announcement of major indicators such as China's industrial production and GDP
-21:30 New home sales announcement in the US
-23:00 Canadian interest rate decision
-23:30 US crude oil inventory announcement
October 27 (Thu)
-12:00 Japan BOJ Prospect Report
-21:15 Eurozone interest rate decision
-21:30 US GDP reports new jobless claims
-21:45 European Central Bank press conference
-23:15 Speech by the President of the European Central Bank Lagarde
October 28 (Fri)
-11:30 Japan interest rate decision
-17:00 German Consumer Price Index (CPI), GDP released
-21:30 US Consumer Expenditure Index announced
-21:30 University of Michigan Consumer Expectation Index, Consumer Sentiment Index, Provisional Home Sales Announcement
The Cabinet of Japan passes through the Cryptocurrency Laundry Prevention Act.
According to the Coin Post, the Japanese cabinet passed the amendment to the law to define the prevention of money laundering of cryptocurrencies on the 14th. Accordingly, the virtual asset exchange should check the personal information such as the user's name and share it among the operators. The amendment will be submitted to the National Assembly to be held and discussed.
Representative of the UK House of Representatives "Cryptocurrency Market Fundamental Power ... Active Support"
"It was time to realize that the fundamentals of the cryptocurrency market are strong over the past half years of the cryptocurrency market," said Matt Hancock, a British House of Representatives. Related to Kwasi Kwarteng, which was elected last month, Kwasi Kwarteng, "Kwak was a very positive attitude toward cryptocurrency at a recent private meeting," he said. I understand the dots. ”
China exceeded $ 10 billion
The People's Bank, a central bank in China, announced that digital yuan pilot trials exceeded $ 10 billion. Through the official WeChat account, the People's Bank said, “The digital yuan demonstration operation is currently being carried out at 5.6 million merchants in 15 provinces, with 360 million transactions and surpassed 100 billion yuan ($13.9 billion).
"We will upgrade the development and service of digital yuan wallets in the future," he added. "We plan to start piloting between mainland and Hong Kong border between the mainland and Hong Kong, and actively study payment support between many countries through cooperation with international payment banks."
EU Executive Committee "possibility of including NFT and securities tokens in MiCA Law regulation"
The European Union's cryptocurrency regulation, MiCA , is likely to include securities token and NFT. In a written interview with the Media, the European Union Executive Committee (EC) said, “We proposed to include NFT in the scope of MiCA. There is a possibility of reclassification of securities tokens or NFTs into financial products or virtual assets later. Each country said that NFT can be redistributed into financial instruments according to the Financial Product Investment Guidelines (MIFID), and MiCA can also define securities tokens or NFTs as virtual assets. ” In principle, the NFT reported that it is excluded from regulation.
Representatives of the lawmakers, the law enforcement agency's terrorist support cryptocurrency seizure bill
According to Coidesk, an amendment to the 'economic crime and corporate transparency legislation', which contains the easiest way to seize the cryptocurrency used to support terrorism in the UK, has been proposed. "The cryptocurrency is used more for terrorism. We will propose a revision to strengthen the crackdown." In this regard, the British Ministry of Home Affairs explained, "It is a content that allows the law enforcement agency to seize, frozen and confiscate cryptocurrencies that have been used or used for terrorism." The British government introduced economic crimes and corporate transparency legislation last month that facilitates the seizure of cryptocurrency assets, freezing, and recovery.
US Fed Director Willer "The United States does not need digital dollars"
According to Double Rock, Christopher Waller, director of the Federal Reserve, said on Wednesday that the United States does not need digital dollars in Harvard University. "The factors that support the dollar's superiority are not technical, but are sufficient supply to US government bonds and other debt, liquidity market, US economy, and political system stability," he said. CBDC will not change it. ” He also emphasized that "global efforts are being made at the global level to improve payment between borders. Most of these improvements are from the improvement of the existing payment system." Christopher Willer said, "In the case of Stable Coin, the dollar is likely to strengthen the dollar as much as it is used in the dollar. "You must be subject to the framework."
Texas authorities, FTX · FTX founders survey ... charges of selling unregistered securities
According to the US investment magazine Barron's, the Texas regulator is conducting a survey of FTX US, FTX trading and Sam Bankman Fried FTX founders. The Texas State Securities Commission (TSSB) is investigating the provision of unregistered securities products through the Yield-Bearing service, and that "the exchange may have violated state laws on the registration and sales of securities products." I explained. "We are negotiating with TSSB," the FTX side said. "I think our business is operating within a tentative extent. We hope we will continue to cooperate with Texas."
US SEC · CFTC, investigation
Cryptocurrency Hedge Fund Three Arrows Capital (3AC), which was bankrupt by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), has been investigated. They are investigating whether the 3AC has accurately disclosed the information to investors in connection with the battalion sheet, and whether it did not violate regulations such as unregistered institutions.
Chairman of CFTC "Traditional Finance, Cryptocurrency Innovation should be learned".
Rostin Behnam, Chairman of the US CFTC, said that the market evolves against the 'Derivatives -free Derivatives without Brokers' proposed by the cryptocurrency exchange FTX. He said in the financial conference at Georgetown University, "It's not clear when and how the proposal of the FTX is accepted. But this idea is very impressive. It is located at a special intersection between the cryptocurrency market and traditional finance, potentially innovation in the market. I think it's the process of evolution leading to the collapse. ” Earlier, FTX applied for a service that allows you to liquidate derivatives contracts without existing brokers in operating derivatives. In response, US derivatives brokerage operators express their opposition. He said, "Futures transactions that are not required by intermediary companies can be an important change. The cryptocurrency market is a more efficient way for the traditional financial market." You can implement a quick deal at a better price, and you can make payment and storage in a better way. We must learn from each other collectively. ”
Blockchain development platform Tatum attracts $41.5 million investment
Blockchain development platform Tatum has raised $41.5 million in investments from the founders of Octopus Ventures, Circle, Leadblock Fund and Bitpanda. Tatum aims to reduce blockchain application development time.
NFT infrastructure company Gomu attracts $5 million seed investment
NFT infrastructure company Gomu has raised a $5 million seed round investment from Coinbase Ventures, DeFianceCapital and SaisonCapital. Founded earlier this summer, Gum has launched two products: NFT Hub and Collection.xyz, which aims to help the NFT community grow.
Ukraine Kharkiv Art Museum, Artwork NFT
According to Bitcoin.com, an art museum in the northeastern Ukraine second city, Kharkiv, will collaborate with Binance and auctions for 15 NFT works of art. The auction began on October 13 and lasts for a week. The NFT start price is classified into three stages, respectively, 1,000 busd, 750 BUSD, and 500 busd, respectively. The auction proceeds will be used for reserves and additional manpower employment to resume the operation of the museum. Kharkiv is the largest city in the eastern region with Russia, and the museum has about 2.5 points in Ukraine, Western Europe, the Middle East and Far East Art.
US Senator "Part of the Cryptocurrency Regulatory Act, as early as 6 months pass".
US Senator Cynthia Lummis said that some of the US cryptocurrency regulation bills will be passed within six months. "We will see a part of the cryptocurrency regulatory bill at least six months from now," Lummis said. The main content will be the main. The bill is currently well prepared and progressing. ” Senator Christen Gilly Brand also predicted that "cryptocurrency regulatory framework will be passed smoothly with the support of both the ruling party and the opposition party."
This week's highlights
October 17 (Mon)
-12:00 Announcement of China's exports, imports, and trade balance
-17:00 Italian Consumer Price Index (CPI) released
-17:00 ECB De Guindos Speech
October 18 (Tuesday)
-11:00 China GDP and key indicators announced
-18:00 Germany ZEW economic trend index and economic expectation index announced
-22:15 US industrial production announcement
October 19 (Wednesday)
-15:00 UK Consumer Price Index (CPI) released
-18:00 Eurozone Consumer Price Index (CPI) released
-21:30 Announced the number of US building approvals and key indicators
-21:30 Canadian Consumer Price Index (CPI) released
-23:30 US crude oil inventory announcement
October 20 (Thu)
-03:00 Fed Beige Book Released
-08:30 Fed James Vlad Speech
-10:15 People's Bank of China loan preferential rate decision
-19:00 European Union Leaders Summit
-21:30 New U.S. unemployment claims announced
-21:30 Philadelphia Fed's manufacturing activity index released
-23:00 Announcement of US existing home sales
October 21 (Fri)
-02:30 Key Fed members begin speeches
-06:00 Announcement of Korea Producer Price Index (PPI)
-15:00 UK Retail Sales Announcement
-19:00 European Union Leaders Summit
October 22 (Sat)
-07:00 German Federal Bank Wehrmann Speech
-18:00 Speech by the President of the European Central Bank Lagarde
Mango Market Accident
This attack on Mango Market 'robbed' protocol funds using 'oracle' and 'loan'. Here's how the traders traded:
1 - Two accounts establish a large-scale $MNGO perpetual futures trading position
2 - The $MNGO price on CEX exchanges such as FTX rises 5 to 10 times
3 - The valuation gains and losses of two accounts in Mango Market increase
4 - Loans such as BTC, USDT, SOL, etc. as collateral for the position of the raised account
5 - Borrowing $190M (about 270 billion won), the maximum amount that can be borrowed from the protocol
6 - The trader’s net profit through 2 accounts excluding collateral is $100 After M (about 140 billion won)
7 - , the protocol token $MNGO plunged
After stealing Mango Market funds, Trays were met with an offer to pay a $70M bug bounty to Mango’s DAO in exchange for returning the stolen funds.
It should be noted that the method used by traders was the attack method popular last year. How can we correct the repeated mistakes of decentralized protocols? There will always be traders looking for loopholes in these protocols. It seems like a fun DeFi world.
GMX Exchange Accident
GMX, a decentralized futures exchange that allows you to buy/sell A tokens without Price Impact, has attracted great interest from DeFi investors with its marketing called Zero Price Impact. However, the side effects of Zero Price Impact became known to the world as funds were stolen by professional traders recently. Looking at the contents, professional traders bought A tokens on a centralized exchange (CEX), raising the price of A tokens by x% in the short term. The increased Price Feed was reflected in the GMX pool, and large-scale fund swaps were made by taking advantage of GMX's non-slippage.
Specifically, traders bought $50M worth of AVAX on GMX without a price impact and used an additional $40M to drive a temporary price increase by buying AVAX coins from Binance and Coinbase. The AVAX of exchanges rose by about 2%, and the increased price was also reflected in the GMX exchange. Traders who caught this point sold their pre-purchased $50M worth of AVAX as stablecoins, seeking a profit of about $1M.
Resistance Zone = 20.5K
Support Zone = 18.5K / 18K
U.S. Senator Proposes Bill to Eliminate Cryptocurrency Regulatory Uncertainty
U.S. Senate Banking Committee member Bill Hagerty has introduced a bill to protect cryptocurrency exchanges from SEC action. 'The Digital Trading Clarity Act of 2022' aims to provide regulatory clarity on 'digital asset classification' and 'related liabilities under existing securities laws'. "Currently, the uncertainty in US regulation of digital assets is severe, and there is room for companies to go abroad," the Senator said. "You are jeopardizing America's leadership in a time of transformation," he said. If the bill is passed, it is expected to resolve regulatory uncertainty in the cryptocurrency industry and improve market growth and liquidity. The bill needs approval by the Senate, the House of Representatives and the President for it to become law.
US SEC indicts two companies pushing token DIG pump-and-dump plan
U.S. Securities and Exchange Commission (SEC) has indicted Bermuda-based Arbitrade and Canada-based Cryptobontix for promoting a pump-and-dump scheme involving token DIGs. The SEC explained that these companies induced many investors to invest at least $36.8 million worth of DIG during the period from May 2018 to January 2019 by falsely claiming to keep DIG tokens valued at $1. The SEC said the companies and officers violated the anti-fraud and securities registration provisions of the Federal Securities Act.
US SEC indicts famous celebrity 'Kim Kardashian'... "Cryptocurrency Illegal Advertising"
The U.S. Securities and Exchange Commission (SEC) announced on its official website on the 3rd, "I received an advertising fee of $250,000 from the cryptocurrency project EthereumMax (EMAX), but I did not disclose it and promoted the token through my SNS. ", he indicted the famous American model and broadcaster Kim Kardashian. The SEC fined Kim Kardashian $1.26 million. In this regard, the SEC said, "Defendant received $250,000 in advertising expenses for posting EMAX token promotion posts on his Instagram account. However, he did not disclose whether he received advertising expenses during the EMAX promotion process, and he did not disclose the link to the website linked to the purchase of EMAX tokens. This case reminds us that when celebrities or influencers offer investment opportunities such as cryptocurrencies and securities, it is not suitable for all investors. We are stipulating to disclose to the public how much advertising money we received when we do it,” he explained.
U.S. Financial Stability Board Asks Congress to Nominate Cryptocurrency Spot Market Regulator
U.S. Department of the Treasury's Financial Stability Commission (FSOC) has released a report saying that spot market regulators are needed to combat potential fraud and manipulation of cryptocurrency trading. "The legislation of the Senate and House of Representatives gives the CFTC the power to act as a regulator and the SEC to decide what a security is," the report said. “In particular, we need a comprehensive federal framework for stablecoin issuers. Not only should the US financial regulators have the power to do so, but Congress should also intervene to cover the shortcomings.” In this regard, US Treasury Secretary Janet Yellen said, "Innovation without proper regulation can lead to serious disruption. After analyzing current regulatory loopholes, we have concluded that cryptocurrencies can pose a risk to financial stability."
FTX Europe acquires investment company license in Cyprus
The Block reported that FTX Europe has obtained an investment company license in Cyprus. As a result, FTX Europe will be able to provide services to Iceland, Liechtenstein and Norway. In addition, in accordance with the 2nd Financial Instruments Investment Guidelines (MiFID II), a European financial regulatory body, requirements such as separation of customer funds and capital adequacy must be complied with. Earlier in March, FTX established FTX Europe and opened its headquarters and regional offices in Switzerland and Cyprus, respectively.
European Central Bank pushes forward development of digital euro prototype…Participation in Amazon and others
European Central Bank (ECB) has selected five partners to develop a digital euro prototype. Amazon, Spanish bank Kaishabank, payment service provider Worldline, fintech company Nexi, and European payment initiatives. ECB will start developing a digital euro prototype with them in September and finish it at the end of December.
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Battlepunk Arena (P2E blockchain card game) have announced Whitelist for their NFTs. To enter fill out the form below: https://4c3tcnm8tu2.typeform.com/battlepunkarena The winners will receive an email and be added the the private whitelist channel. To ensure you receive the email if you are selected, add [email protected] to your email contacts. The submission deadline is November 27th.
New liquidity distribution visualizations help LPs make more informed decisions when depositing into a pool. LPs can even modify their range by sliding the min/max boundaries! https://uniswap.org/
Bitcoin Full Node Art Sculpture - Sneak peek at a work in progress. Designed to be a fully functional block explorer/full node. It also works like a clock so you can link date/time to the current block reward, current block height, BTC per day/year etc. #Bitcoin #BTC #BitcoinArt
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