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Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users...
17/09/2023

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August.

On Aug. 29, BlockFi filed an application to the United States Bankruptcy Court for the District of New Jersey to authorize the conversion of the so-called trade-only assets into stablecoins. The assets in question — Algorand’s native token, ALGO, Bitcoin Cash (B*H) and Dogecoin (DOGE) — cannot be withdrawn easily, and BlockFi suggests a one-time exchange for Gemini Dollar (GUSD) or another stablecoin.

U.Today - Several XRP transactions that make up an impressive total amount together — close to half a billion — have bee...
17/09/2023

U.Today - Several XRP transactions that make up an impressive total amount together — close to half a billion — have been spotted by the popular crypto tracking service Whale Alert over the period of the last 24 hours.

Ripple Labs giant took an active part in this, transferring part of this massive crypto stash.

Ripple sells 59 million XRP, with 483 million XRP on the move in total
The above crypto tracker spotted three XRP transfers, carrying 424,018,481 XRP; 31,000,000 XRP and 27,600,000 XRP.

Crypto is a volatile place. Money can be as easily lost as made through the ups and downs of Bitcoin and the wider marke...
16/09/2023

Crypto is a volatile place. Money can be as easily lost as made through the ups and downs of Bitcoin and the wider market, and there are massive decisions to make. Should you just hodl invest and do nothing or actively trade the market? How many coins should your portfolio hold? Self-custody or keep your funds on an exchange with pre-determined stop losses?

Basically, how do you protect your stack from the million and one things that can go wrong? We asked Bitcoin OGs and experts in the space for their advice and opinions.

Crypto.news - The race for stablecoin supremacy heats up as industry experts debate Tether’s role and new players like P...
16/09/2023

Crypto.news - The race for stablecoin supremacy heats up as industry experts debate Tether’s role and new players like PayPal (NASDAQ:PYPL) enter the arena.

Bloomberg Intelligence expert Jamie Coutts pointed to Ethereum’s (ETH) growing dominance, highlighted by key network adoption metrics and layer-2 projects like Optimism, Arbitrum, and Base.

He anticipates that Ethereum’s scaling roadmap will drastically lower layer-2 transaction costs, thanks to the forthcoming EIP-4844. This comes as PayPal recently debuted its PYUSD stablecoin, fueling speculation that it might develop its own layer-2 network.

On the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against...
15/09/2023

On the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against the United States Securities and Exchange Commission. Even though there’s still no decision regarding the firm’s application for a spot Bitcoin (BTC) exchange-traded fund, the decision was favorable for Grayscale and its Grayscale Bitcoin Trust, which has over $16 billion in assets under

The biggest new memecoin of 2023, Pepe (PEPE), suffered one of the worst possible fates that can befall a new crypto ass...
15/09/2023

The biggest new memecoin of 2023, Pepe (PEPE), suffered one of the worst possible fates that can befall a new crypto asset — a partial rug pull after its anonymous developers abruptly sold nearly $16 million worth of the token on Aug. 24.

The official Pepe X (formerly known as Twitter) account explained the drop was due to “three ex-team members” going behind their back and selling the tokens without their knowledge — a move that saw the price of Pepe plummet as much as 26% in the days following, without much respite.

Pepe liquidity held strong despite the sudden plunge. Source: Kaiko

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot B...
14/09/2023

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot Bitcoin ETF could be bearish for the cryptocurrency.

Schiff wrote in an Aug. 29 tweet, “GBTC becoming a spot ETF is actually bearish for Bitcoin.” He explained that traders can buy GBTC now and sell or short BTC. He added that once GBTC becomes an ETF, the discount to net asset value goes away.

The comment follows Grayscale Investments LLC securing judicial backing for initiating a Bitcoin spot ETF in the United States. Three federal judges annulled the SEC’s decision to prevent GBTC’s conversion to a spot Bitcoin ETF, allowing it to move forward instead.

Grayscale's Bitcoin investment vehicle, Grayscale Bitcoin Trust (GBTC), now trades at just 17% below BTC price parity.Th...
13/09/2023

Grayscale's Bitcoin investment vehicle, Grayscale Bitcoin Trust (GBTC), now trades at just 17% below BTC price parity.

The latest data from monitoring resource CoinGlass confirms that as of Sept. 9, GBTC shares traded at 17.17% less than BTC/USD.

GBTC premium vs. asset holdings vs. BTC/USD chart (screenshot). Source: CoinGlass
BTC/USD annotated chart. Source: CryptoCon/X

A collaboration across decentralized finance (DeFi) developers is introducing a non-custodial liquidity markets on layer...
13/09/2023

A collaboration across decentralized finance (DeFi) developers is introducing a non-custodial liquidity markets on layer-2 network Base, promising to enable trustless smart contracts to automatically connect liquidity pools with borrowing strategies.

Behind the initiative are developers from Seashell, RNG Labs, and Loreum Labs, along with advisers and collaborators from Ampleforth, Uniswap and other projects. The group built the Seamless Protocol, a fork of Aave v3 that allows smart contracts with predetermined borrowing strategies to conduct undercollateralized borrowing on-chain.

The gaming and Web3 company Animoca Brands announced on Sept. 11 the closing of a funding round to accelerate the develo...
12/09/2023

The gaming and Web3 company Animoca Brands announced on Sept. 11 the closing of a funding round to accelerate the development of its Mocaverse platform.

Animoca raised $20 million in an effort to push forward its goal of building out the “Mocaverse” project to be the identity and point system for Web3 gaming, culture and entertainment.

Kei Oda is the head of Japan and the Asia-Pacific region for Quantstamp, a Web3 security firm that audits smart contract...
12/09/2023

Kei Oda is the head of Japan and the Asia-Pacific region for Quantstamp, a Web3 security firm that audits smart contracts and develops blockchain security solutions.

Kei spent 16 years trading bonds at Goldman Sachs before stumbling into cryptocurrencies out of boredom. He tells Magazine he was induced by the ability to trade Bitcoin and other assets around the clock.

1. How did you get involved in crypto?
2. What do you think of the current Japanese crypto ecosystem?
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3. What has held the Japanese crypto scene back?
4. Do you think more companies will start setting up in Japan instead of opting for other Asian hubs?
5. Have you made any moves to foster a crypto community here?
6. How did contagion from collapses like FTX impact the Japanese market?
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