Crypto.com to Close US Institutional Service Amid SEC's Crypto Crackdown - cyptoranking.com

2024-04-28

Popular crypto exchanges(2023 Update) 2024-04-28
Image: cyptoranking.com

Finally, the cloud services sector continues to be dynamic and competitive, with potential for innovation and specialization coexisting with concerns about market concentration. The cloud services industry's future will most certainly be defined by continued technical improvements, legislative developments, and changing client needs.How the Netherlands is turning into a crypto hub Explaining Ethereum Name Service (ENS): What Is It and How Does It Work?Ethereum vs Bitcoin: Use Cases, Technical Differences, Scaling IssuesWhat Is DeFi? Let’s Understand Decentralized FinanceWeb3 vs Web2 : What’s the Difference? Crypto.com to Close US Institutional Service Amid SEC's Crypto CrackdownPartnerships for Innovation Users interested in mining on cloud should start by selecting a reliable cloud mining company. At this step, thorough investigation is essential to establish the provider's dependability and track record.

Exchange Rankings Crypto
Image: cyptoranking.com

Jones also delved into his views on U.S. stocks during his recent CNBC appearance. Labeling the present era as an especially challenging time for equity investors in the U.S., Jones pointed to the combination of geopolitical uncertainty and the U.S.'s problematic fiscal situation as main deterrents. Margin Trading in Crypto Half A Million Indians Embrace Digital Rupee in Pilot PhaseMichael Lewis’s involvement in documenting SBF’s life raises eyebrows – Lewis crypto leaders shadowy super-coders. A chance encounter leads Lewis to embark on this project, and after two years of intensive interviews, the book takes shape. However, Lewis’s portrayal blurs the lines between FTX and the broader crypto landscape, confusing custodial centralized finance (CeFi) with decentralized finance (DeFi), which strives to address the issues of control over one’s assets. According to the announcement from Circle, businesses and developers will be able to build decentralized applications with USDC on Polygon. The new offering is touted to enable near-instant, low-fee transactions for various use cases, including payments, remittances, trading, borrowing and lending.Before Circle announced its native Polygon USDC offering, protocol users had to use bridged USDC (USDC.e) from the Ethereum blockchain. The token is not issued by Circle, unlike the new offering, which will be redeemable at a 1:1 ratio for United States dollars.Related: Circle launches USDC stablecoin on Polkadot Asset HubCircle had previously provided support of deposits and withdrawals for USDC.e on Polygon for Circle Mint and its APIs. The issuer plans to discontinue this service from Nov. 10, warning users who attempt to send USDC.e to Circle Mint accounts that their assets may be unrecoverable after this date.The new Polygon USDC token address reflects a current market capitalization of some 4.3 million USDC on the scaling protocol. Source: PolygonscanCircle also notes that the provision of native Polygon USDC will enable low-cost global payments and remittances, as well as accessibility to trading, borrowing and lending on leading decentralized finance protocols, including Aave, Compound, Curve, Uniswap and QuickSwap.The USDC issuer also plans to launch a cross-chain transfer protocol to Polygon to enable interoperability with other blockchain networks. This is set to unlock Polygon-based USDC transfers to and from the Ethereum blockchain.Magazine: The Truth Behind Cuba’s Bitcoin Revolution: An on-the-ground report

The revolutionary fuse mechanism of the Trantor Network integrates many security measures to secure assets during transfers. Trantor Network now permits indigenous non-fungible tokens (NFTs) to flow seamlessly between different Ethereum Virtual Machine (EVM) chains. It includes Binance Smart Chain (BSC), Optimism (OP), Ethereum (ETH), and others. “Each entity is a soulbound token, but more importantly, each one is a character and a world that is designed specifically for that creator.” Best Crypto Exchange USA 2023For instance, Polygon is a layer 2 solution and is part of the Ethereum blockchain, and is not autonomous. So, when the Ethereum network crashes, then, Polygon too comes down with it. Might trigger bank runs:

On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.Bitcoin demonstrated short-term strength by maintaining support at $27,200 on Oct. 3 and subsequently surged above $27,500 on Oct. 5. Nevertheless, three key trading metrics indicate a lackluster level of support. These metrics encompass spot market volumes, derivatives and confidence in the approval of a spot Bitcoin ETF.Macroeconomic forces exert downward pressure on Bitcoin priceOn Oct. 2, U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated in New York that he anticipates a slowdown in economic growth “below its potential” due to higher interest rates constraining economic activity. He also noted that the full impact of the current monetary policy has yet to be realized. According to the CME FedWatch tool, the market is currently evenly divided on the possibility of another interest rate hike by the Fed in 2023.On Oct. 3, the real yield on U.S. 10-year Treasurys, a measure that adjusts for inflation, reached 2.47% — its highest level in nearly 15 years — according to data from the U.S. Treasury Department. This development partly explains the U.S. Dollar Index (DXY) reaching its highest point in 10 months.Additionally, Reuters reported that the U.S. has become a relatively more appealing investment destination due to its “resilient economy,” boasting stronger growth prospects when compared with Europe and China.Bitcoin trading metrics show diminished activity for leverage longsBitcoin monthly futures typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement. As a result, BTC futures contracts should typically trade at a 5%–10% annualized premium — a situation known as contango, which is not unique to crypto markets.Bitcoin 2-month futures annualized premium. Source: Laevitas The BTC futures premium continues to trade below the 5% neutral threshold, remaining in the neutral-to-bearish range. This indicates a lack of demand for leveraged long positions.Additionally, spot trading activity on traditional exchanges has declined to levels not seen since late 2020, signifying reduced participation by institutional investors.Bitcoin daily spot trading volume, USD. Source: Messari and Kaiko It’s worth noting that the decrease in trading volumes may be attributed to major U.S.-based trading firms, such as Jane Street Group and Jump Trading, distancing themselves from the cryptocurrency markets ahead of May 2023. Bloomberg reported that the primary reason for this shift was “heightened regulatory scrutiny,” which rendered the market less appealing to institutional investors.Related: Bitcoin price drops its early week gains — Here is whyInvestors’ expectation for a spot BTC ETF drops One of the factors supporting Bitcoin’s 68% gains in 2023 is the anticipation of approval for a spot Bitcoin ETF by the U.S. Securities and Exchange Commission. However, despite the regulator’s multiple postponements, the recent launch of Ether futures-based ETFs on Oct. 2 saw lackluster demand.Furthermore, despite a favorable court ruling for the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF, it continues to trade at a 19% discount compared with its Bitcoin holdings. This data indicates a lack of confidence in the approval of a spot Bitcoin ETF, as investors would have the option to redeem their shares at par value following the conversion.Ultimately, Bitcoin was unable to surpass the $28,500 resistance level, and Federal Reserve representatives warned of impending economic pressures. Consequently, the prospects of breaking above this resistance in the short term appear less than favorable.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. But the question is whether the SEC believes it will work. Coinbase Launches International Crypto Derivatives ExchangeSeveral crypto executives and developers in the country told CoinDesk they weren’t experiencing severe business disruptions – many of them are working remotely. They were mainly dealing with the personal elements of the attack such as the stress and annoyances of bare supermarket shelves and responding to security scares. This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisionsWe asked ChatGPT if will there be an XRP bull run in 2024?

Have an opinion on this story? Share it!