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Showing posts from July 5, 2021

Barclays Blocks Customers From Sending Funds to Binance

Barclays has reported it no longer supports wiring funds to Binance, one of the largest cryptocurrency exchanges in terms of daily volume. The bank announced its issues with wiring funds to Binance in a resolution message to the customers today. The banking giant cites the warning that the Financial Conduct Authority (FCA) issued against Binance last week. The measure affects more than 24 million Barclays customers at a worldwide level. Barclays Blocks Wires To Binance Barclays, one of the leading banking institutions in the UK, announced they would no longer support wiring funds to Binance. The bank made this announcement effective immediately and told customers it was meant to protect their money. Barclays based this measure on the warning that the FCA issued last week on the cryptocurrency exchange. The bank stated: This action does not impact on the ability for customers to withdraw funds from Binance. The decision has been taken following the FCA warning to consumers. Last...

BarnBridge unveils application to maintain portfolio weightings of ERC-20 tokens

BarnBridge’s “SMART Exposure” application automatically rebalances ERC-20 tokens held in a user’s portfolio to ensure they maintain specific weightings. Decentralized finance protocol BarnBridge has introduced an application that allows users to automate position management between Ethereum-based assets . On July 5, BarnBridge announced its second application, dubbed "SMART Exposure." The application enables users to passively maintain a particular weighting between the assets in a specific ERC-20 token pair through automatic rebalancing. The application has been launched on the Ethereum mainnet with support for wrapped Ethereum (WETH), Wrapped Bitcoin (WBTC), and USD Coin (USDC) in pairings weighted to 75/25 or 50/50 ratios. It will also be deployed on the Polygon Network in the coming weeks. We're excited to announce the launch of our second application, SMART Exposure SE is launching with support for WETH, WBTC, and USDC in 75/25, 50/50, 25/75 configurations....

YouTuber accused of engineering multi-million pump n dump via Uniswap

The YouTuber denied accusations he has rug-pulled on his followers while asserting that Million token is a “social project” that “should not be considered an investment.” An ex-Google tech lead and YouTuber with more than 1.1 million subscribers has been accused of engineering a multi-million dollar “pump and dump” scheme. Patrick Shyu, known pseudonymously as TechLead on YouTube, launched the Million token (MM) via Initial Dex Offering (IDO) on leading decentralized exchange Uniswap on July 1. The project’s website describes Million as a pre-mined cryptocurrency with a fixed supply of one million tokens that are backed by one USDC each per token. The website emphasizes that despite only being backed by $1 million worth of stablecoins, MM has “no maximum value.” After being priced at $1.00 on launch, MM saw a mammoth 3,500% increase within just three days to hit $36.87 on July 4. The price has since crashed, declining by 58% to sit around $15.26 at the time of writing. The immedi...

Coinbase Actively Building Crypto Hub in India, Looking to Hire ‘Hundreds’ of People

The Nasdaq-listed cryptocurrency exchange Coinbase is actively building a cryptocurrency hub in India. The company says it has “ambitious plans” for the South Asian crypto hub and is looking to hire for many positions, including hundreds of engineers. Coinbase Has ‘Ambitious Plans’ for Its Indian Crypto Hub Coinbase published a blog post on Friday, authored by Pankaj Gupta, the company’s VP of Engineering and Site Lead in India. Gupta joined Coinbase about two months ago “to establish and lead a new tech hub for Coinbase in India,” he explained, elaborating: There’s never been a more exciting time for builders working in crypto. This is true worldwide, but especially in India which is seeing a boom in crypto-native talent and in creating and growing important crypto projects. “It is early days for our India tech hub but it has already taken off with an incredible amount of interest in our open roles from across India,” Gupta emphasized. He added that Coinbase is “also exploring ...

'Investors stay clear': UBS warns regulators could pop 'bubble-like crypto markets’

UBS has joined the phalanx of banks expressing concern over their customers investing in digital assets. Swiss multinational investment banking giant, UBS, has warned its clients that crypto assets cbe unsuitable for professional investors if regulatory pressure continues. In a note sent to clients last week, the global wealth management team at UBS said China's latest crackdown had hurt crypto prices and operators, cautioning that further regulatory pushback worldwide could exacerbate the downward pressure on digital asset prices: “Regulators have demonstrated they can and will crackdown on crypto, so we suggest investors stay clear and build their portfolio around less risky assets. We've long warned that shifting investor sentiment or regulatory crackdowns could pop bubble-like crypto markets.” While UBS acknowledged that further crypto gains could be possible, they emphasized the risks the speculative asset class could pose to investors: “While we can't rule out ...

New York locals accuse gas-fired mining operation of heating Seneca Lake

Residents are concerned over the environmental impact of Greenidge’s gas-fired Bitcoin mining plant, asserting that the firm is heating the lake and may be killing marine life. New York locals are accusing Greenidge Generation’s gas-fired Bitcoin mining plant of heating Seneca Lake in upstate New York. On a daily basis, the Greenidge plant is permitted to withdraw 139 million gallons of water from the lake and discharge 134 million gallons of water. The plant is also allowed to discharge water with a temperature of up to 108 degrees Fahrenheit (F) in the winter, and up to 86F in the summer. The residents of Dresden have expressed concern over the rising temperatures of the lake. The sustainability of trout species that populate the lake is a key concern for locals, with the fish thriving in temperatures between 52F and 64F, while levels above 75F are lethal for some species. On July 5, local homeowner, Abi Buddington, told NBC: "The lake is so warm you feel like you're i...

UBS Advises ‘Stay Clear’ of Cryptocurrencies — Warns ‘Regulators Will Crack Down on Crypto’

Switzerland’s largest bank, UBS, has advised investors to “stay clear” of cryptocurrencies and “build their portfolio around less risky assets.” The UBS analysts warned that “Regulators have demonstrated they can and will crack down on crypto.” UBS’ Crypto Advice and Warning The global wealth management team at UBS warned in a note published last week that regulators worldwide, particularly the U.S. and the U.K., will impose tougher cryptocurrency regulations. Citing that “China’s latest crackdown — extending to miners, banks, e-payment networks, and social media — hurt crypto prices and operators,” the UBS analysts wrote: Regulators have demonstrated they can and will crack down on crypto … So we suggest investors stay clear, and build their portfolio around less risky assets. “We’ve long warned that shifting investor sentiment or regulatory crackdowns could pop bubble-like crypto markets,” the analysts added. “We think investors should avoid crypto speculation, and consider ri...

Equity Strategists, Portfolio Managers Share Bitcoin Price Predictions: Survey

Equity strategists and portfolio managers were asked about what the price of bitcoin will be by the year-end. Almost half of the surveyed participants say the price of the cryptocurrency will fall below the $30K level but some believe it will rise to $60K. Year-End Bitcoin Price Expectations by Equity Strategists and Portfolio Managers Equity strategists and portfolio managers revealed what they think bitcoin’s price will be at the end of 2021 in a survey by CNBC, published last week. Every quarter, the media outlet polls about 100 chief investment officers, equity strategists, and portfolio managers about their views on the markets for the rest of the year. The latest survey was conducted from June 23-30. According to the survey results unveiled last week, 44% of respondents said the price of bitcoin will be below $30,000 by the end of the year. In addition, 25% of equity strategists and portfolio managers said it will be $40,000 and another 25% said it will reach $50,000. Only 6...

Bitcoin.org owner reports site hit with 'absolutely massive' DDoS attack

The attack comes just one week after a U.K. court ordered the website to stop hosting the Bitcoin white paper. A website aiming to support the development of Bitcoin has reportedly been hit with a DDoS attack. Cøbra, the pseudonymous owner of Bitcoin.org, reported on Twitter today that the website had been hit with an “absolutely massive” distributed denial of service, or DDoS, attack along with a ransom demand for an undisclosed amount of Bitcoin ( BTC ). At time of publication, Bitcoin.org is still accessible. “Back in the day you could put up a reasonable fight against most DDoS attacks,” said Cøbra. “Now they just down you at will. There is no ‘fight’ anymore, you go down and stay down until they leave you alone.” https://t.co/OsFgRFRRZb getting hit with an absolutely massive DDoS attack and a ransom demand to send Bitcoin or they'll continue. I don't think I've been this offended in a while. Ungrateful scum. — Cøbra (@CobraBitcoin) July 5, 2021 While DDoS...

Twitter Permanently Suspends Splinterlands Account for Unspecified Violations

After tweeting through its account since 2018, Splinterlands, a blockchain-based NFT trading card game, has been banned from the service permanently as social media giant Twitter refuses to respond to appeals. Suspension Coincides With Twitter Unveiling its Own NFTs While non-fungible token (NFT) hype may have cooled, there is no shortage of controversy surrounding the space. The latest incident includes none other than the social media outlet Twitter. Although Jack Dorsey warmly embraced the NFT movement after auctioning off his very first tweet in NFT form, the platform’s recent decision to suspend blockchain-based gaming operator Splinterlands has embroiled the social media platform in a fresh censorship debate. Splinterlands, which offers gamers the opportunity to collect, trade, and battle with scarce NFT collectibles, was among the first to embrace the unique characteristics of non-fungible tokens as part of its platform experience. The company’s Twitter account was suspe...

3 reasons why Enzyme Finance (MLN) is up 92% in a week

Enzyme price doubles in a week after major exchange listings and big-name DeFi partnerships lead to a 2,000% increase in 24-hour trading volume. Decentralized finance (DeFi) has emerged as one of the most promising real-world applications of blockchain technology, capable of reshaping the face of the global financial markets and transforming the way the average person manages their money. One DeFi focused project that has been gaining attention over the past week as the mainstream world slowly opens itself to the possibilities of DeFi is Enzyme Finance (MLN), a protocol focused on on-chain asset management that allows users to “build and scale vaults based on the investment strategies of their choice,” according to the projects website. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $65 on June 30, the price of MLN has surged 92% to an intraday high at $125 on June 5. MLN/USDT 4-hour chart. Source: TradingView Three reasons the pri...

Binance disappointed by Barclays’ ‘unilateral action’ to block customer payments

A Binance spokesperson reiterated to Cointelegraph that the Financial Conduct Authority's recent edict only applied to Binance Markets Limited, or BML, which is a separate legal entity from the main global exchange that operates through Binance.com. Barclays’ decision to stop facilitating British customers’ payments to Binance has been met with criticism by the cryptocurrency exchange after a spokesperson told Cointelegraph that the bank acted with “an inaccurate understanding of events.” "We are disappointed that Barclays appears to have taken unilateral action based on what appears to be an inaccurate understanding of events,” the spokesperson said, referring to a recent edict by the United Kingdom’s Financial Conduct Authority, or FCA, barring Binance Markets Limited from operating in the country . “The FCA notice relates to [Binance Markets Limited], which is a company incorporated in the UK and regulated by FCA,” the spokesperson said, adding that BML is a separate ...

248% Weekly Gains — Baby Doge Coin Continues to Rally While Most Crypto Asset Markets Slump

Four days ago, the crypto community and mainstream audiences caught a whiff of a new meme-based crypto asset called baby doge. The coin got a lot more attention when Tesla’s Elon Musk tweeted about baby doge and almost immediately after the tweet, the asset’s value skyrocketed. Musk hasn’t said anything about baby doge since then, but the crypto asset has continued to climb higher in value. Weekly Stats Show Baby Doge Outshines Most Crypto Asset Market Performances Last week, Bitcoin.com News reported on the cryptocurrency called baby doge (BABYDOGE) after the CEO of Tesla tweeted about the coin. At that time, baby doge jumped 228.3% during a 24 hour period on July 1, and during the last few days, the digital currency continues to gather gains. Ever since the CEO of Tesla, Elon Musk, mentioned baby doge coin (BABYDOGE) on Twitter, the crypto asset has seen mainstream media report about it and the currency has doubled in value in four days. The picture above is a meme shared by t...

HK production company plans to launch crypto-themed drama series on NFTs

The series will reportedly incorporate interactive features from video games, allowing viewers to collect scenes, characters and props within the story after its run time. A production and investment firm is launching a drama series on nonfungible tokens featuring a competition between Hong Kongers and Americans to create a digital currency. In a Sunday report from entertainment publication Variety, the AMM Global production company will be creating a 12-episode series called Crypto Keepers to premiere sometime next year. The drama, which will reportedly be released using nonfungible tokens, or NFTs, will feature major figures in the crypto space as well fictional plots surrounding the personal and professional lives of people involved in creating “the next Bitcoin-like digital currency.” The series will include both English and Cantonese speakers filmed in a variety of countries. Though Crypto Keepers is a work of fiction, the show will include major events from the crypto spac...

BTC price drops to fill Bitcoin futures gap as focus turns to $46.5K bull target

The latest CME futures gap is filled within hours on Monday, with an attractive gap nearer $50,000 providing a frame of reference for bulls. Bitcoin ( BTC ) traded at crucial support near $33,000 on Monday after a weekend of gains disappeared in hours. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin futures mark fresh price targets Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing bullish performance at $35,900 to drop just over 5% on the day. The U-turn leaves Bitcoin firmly within its established trading range, with traders mindful of various hurdles to overcome before continuation can take place. For Michaël van de Poppe, these hurdles come in the form of Bitcoin futures gaps. On Friday, CME futures closed the week at around $33,285, a full $2,700 below Sunday’s local high. As a result, the temptation was there for spot price action to fall in order to “fill” the resulting gap between the end of one week’s trading and...

Share Buyback Magic: Financial Forecaster Says Stock Market Rally Is All ‘Smoke and Mirrors’

While the American economy witnesses small business failures across the nation, historical unemployment rates, major issues with the supply chain, countless product shortages, and the cost of goods and services inflating, the stock market continues to rally. The CEO of the Forward Thinking Group UK, Neil McCoy-Ward, thinks the current stock market is “completely disconnected from the economy,” for various reasons, but McCoy-Ward believes today’s bubbling stock market mostly stems from things like excessive stimulus and share buybacks. Neil McCoy-Ward Describes an Unsustainable Economic Situation Just recently, the investor, financial forecaster, and housing market expert Neil McCoy-Ward was featured in a Youtube video produced by the Financial Monster channel. This Youtube channel is dedicated to daily videos about bitcoin, investing, finance, and wealth building. The five-minute video called “How The Stock Market Crash Will Happen Step By Step” is quick and to the point. McCoy-Wa...

SNX hits multi-week highs as total value locked on Synthetix approaches $1 billion

However, SNX withdrawals from Synthetix pools picked up momentum during the price boom. SNX spiked to its three-week high on Monday in reaction to a market-wide upside correction led by Bitcoin ( BTC ) and other top-cap digital assets. The Synthetix project's native token reached $9.59 after rising four days in a row by up to 50%. That included a sharp 18.29% upswing in the previous daily session, sparked by Bitcoin's climb above its key resistance level of $35,000 . Altcoins tend to tail the flagship digital asset's price trends. Synthetix and Bitcoin price moves in the recent sessions. Source: TradingView.com But more factors were in play during the SNX's comparatively higher price boom. Its jump appeared as speculators returned to bet bullishly on the overall decentralized finance (DeFi) ecosystem . The seven-day adjusted timeframe saw almost every top DeFi coin posting double-digital gains, including Uniswap (~16%), Aave (~24%), Compound (39.37%), amongst man...