CryptoSoul

2021-09-28 11:00:24 This Is What the Crypto Industry Needs To Succeed, According to Former US Treasury Secretary

Former U.S. Treasury secretary Larry Summers says there’s one key thing that the crypto industry needs in order to thrive.

In a new interview with Bloomberg, Summers says that nefarious financial activity is inherent in the crypto space, and like other industries, digital assets will require regulation to become safe and reliable.

 “Let’s start from the word crypto. It suggests a desire for secrecy with respect to large financial sums, and we have large financial sums happening in secret. You have risks of money laundering, risks of supporting various kinds of criminal activities, risks of innocent people being ripped off.”

Summers likens the conversation around regulation in crypto to similar discussions in industries like the big tech and the stock market. Ouvert / Commentaire

2021-09-27 11:00:26 Biggest U.S. And European Banks Oppose Basel’s New Strict Bitcoin Rules

JPMorgan, Deutsche Bank, and other world-leading banks have opposed new banking regulations that would force them to match one dollar in capital for every dollar of bitcoin they hold.

Banks are traditionally required by Basel rules to assign risk weightings to different kinds of assets they own. The resulting outcome, in turn, determines the overall capital requirements for each bank.

According to the rules, the risk weightings could range from 0% for very low-risk assets such as a tokenized sovereign bond to 1250% for extremely risky assets. Ouvert / Commentaire

2021-09-26 11:00:12 Bitcoin Has an Investment ‘Edge’ Over Other Assets, Says 178-Year Old Economic Magazine – Here’s Why

The historic magazine The Economist is giving Bitcoin high praise, saying that the crypto holds attractive investment advantages over other assets.

A recent article from the 178-year old magazine says that Bitcoin’s low correlation with traditional markets makes it a potentially excellent source of diversification. Ouvert / Commentaire

2021-09-25 11:00:12 Banking Giant HSBC Slams Cryptocurrencies, But Applauds CBDCs For This Reason

HSBC, a British multinational investment bank and a financial services firm, has scrutinized cryptocurrencies and stablecoins, claiming the lack of regulations in the space pose threats to investors. On the contrary, the bank adored CBDCs as a form of digital money that can spur economic growth.

In a recent report, titled “New forms of digital money could spur growth,” HSBC acknowledged Central Bank Digital Currencies as a banking innovation. The report noted that CBDCs are transparent and stable, therefore do not pose any threat to customers. Ouvert / Commentaire

2021-09-24 11:00:15 DeversiFi launches L2 bridge to Bitfinex for instant Tether (USDt) transfers

Bitfinex, the popular crypto trading platform, and DeversiFi, a layer-2 (L2) trading platform powered by StarkWare technology, have launched the first L2 bridge between a centralized and decentralized exchange, enabling fast and low-cost transfers for ERC-20 tokens, starting with Tether tokens (USDt).

With centralized exchanges seen as the entry point into cryptocurrency for many users, the new bridge will propel further adoption of DeFi by providing traders from both exchanges with access to the opportunities on each platform without having to transact on layer-1 (L1) Ethereum. Ouvert / Commentaire

2021-09-23 11:00:25 Royal Monetary Authority of Bhutan and Ripple to pilot CBDC with private blockchain

Ripple, the provider of enterprise blockchain and crypto solutions for cross-border payments, today announced a collaboration with Bhutan’s central bank, the Royal Monetary Authority (RMA), to pilot a central bank digital currency (CBDC) using Ripple’s CBDC Private Ledger.

Building atop its current payments infrastructure, the RMA will pilot retail, cross-border and wholesale payment use cases for a digital Ngultrum in phases using Ripple’s sustainable blockchain technology. Doing so will help accelerate its mission to increase financial inclusion in Bhutan to 85% by 2023. Ouvert / Commentaire

2021-09-22 11:00:31 Cudos And Zero Services Partner Up To Help Validators Join Cudos Network

Cudos is proud to announce its partnership with Zero Services, a European managed service and co-location provider, following the launch of its incentivized public testnet project, Artemis.

As per the announcement, the partnership will help assign new individual validators to join the Cudos network. Cudos hopes to harness Zero Services skills and expertise to manage the validation nodes fully. Ouvert / Commentaire

2021-09-19 11:00:27 Start of New BTC Bull Trend? Crypto Trader Lark Davis Says Bitcoin Just Confirmed Rare Bullish Signal

Crypto trader and YouTube influencer Lark Davis says Bitcoin (BTC) just confirmed a massive bullish signal.

In a new video, Davis tells his 432,000 YouTube subscribers that Bitcoin just flashed “golden cross,” a technical event seen by many traders as a sign for rallies to come.

 “It’s happened. It’s official. It is confirmed. We’ve got a golden cross on Bitcoin. That is, of course, the crossing over of the 50-day moving average of the 200-day moving average. This is definitely nice to see.”

Davis also looks at the history of golden crosses in Bitcoin to see whether the event is a reliable bullish indicator. According to the crypto trader, the last time BTC confirmed one in May 2020, it saw a rally of 700%. Ouvert / Commentaire

2021-09-18 11:00:21 Billionaire Thomas Peterffy Reveals He’s Been HODLing Bitcoin For Over 3 Years

The pattern of traditional billionaires buying huge amounts of Bitcoin without making it public has been reoccurring for the last few years. There was a significant inflow of traditional billionaires to the Bitcoin market, following the intensity of inflation from last year.

Billionaires continue to secretly hold Bitcoin in large amountsThis year, the market is witnessing the same pattern, with some of the top dogs in the finance scene revealing that they’ve been holding Bitcoin for a long period. Billionaire Thomas Peterffy Pererffy, the founder and chairman of Interactive Brokers is one of such, who recently opened up to CNBC in an interview, noting amongst many interesting takes, that he’s been a Bitcoin holder for three years.

He made this known after being quizzed about his thoughts on leading institutions like AMC theaters’ recent move to accept Bitcoin along with other altcoins as payment mechanisms by the end of the year. Peterffy revealed that the move does not seem to make a lot of sense to him, “what are the advantages of these cryptocurrencies, visibly stablecoins?” He asked. Adding that for Stablecoins, there’s a small chance that their value might skyrocket and that it remains crucial to be exposed to them. Ouvert / Commentaire

2021-09-17 11:00:38 TOMI Releases Its Third NFT Collection As Public Sale Approaches

TOMI, a decentralized cryptocurrency platform, announced its limited edition set of NFTs that will allow owners to access their main presale.

According to the announcement, TOMI is offering users an opportunity to purchase the exclusive Tomi Heroes NFTs. The collection has gained a lot of traction from various members of the cryptocurrency community, including influencers. So far, TOMI has raised over 260 ETH (slightly less than $1 million). Notably, there are currently a few pieces remaining.  Ouvert / Commentaire