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2024-03-29

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While many onlookers in the crowded overflow rooms at the Daniel Patrick Moynihan Courthouse in New York are likely thankful for Judge Kaplan’s ability to move the case forward (to say nothing of the schadenfreude many might feel seeing team SBF squirm), there’s a case to be made Kaplan should be a little more sporting, a little more judicial. He noted that the purpose of Fairblock in this particular scenario would be to act as a service provider that enables the generation of keys under certain conditions. BNS-Markets|Buy Bitcoin and Other CryptocurrenciesArtist: Are you a creative spirit? Artists design car paint jobs, decals, and unique crew branding. A recent study conducted by the Bank of Canada delved into the role a central bank digital currency (CBDC) would play in improving financial inclusion, digital inclusion, and accessibility. The study concludes that while the Canadian financial ecosystem is inclusive, a CBDC might help tackle several challenges not dependent on the system itself.

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The SEC is suing Binance US’ founder for a litany of federal law violations. Despite the IRI’s shortcomings, the crypto sector still requires support, with venture capital investments declining and deals taking longer to materialize. Binance-backed Aptos Labs and Animoca Brands have made varied investments, illustrating the unpredictability of the crypto market. How to Buy Ethereum in Canada-Start Trading eth!Do you have something to say about the Ukraine AI roadmap, the use of deepfakes in conflict, or anything else? Please write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter). Currently, banks’ struggle to attract deposits, and the difficulty of matching their deposit rates to the current rates available in the market creates revenue and debt management stress at a level which could become critical to the function of the entire banking system. Like many cryptocurrency advocates, Hayes believes that it’s in times like this that a certain cohort of investors begins to look at different investment options, including Bitcoin.

FTX’s demise and Silvergate’s eventual voluntary liquidation in March 2023 are closely linked, especially since Silvergate lost $1 billion in the fourth quarter of 2022. The first witness who took the stands was Marc-Antoine Julliard, a cocoa bean trader, who lost $100,000 as a customer with the FTX. He was under the impression that FTX had strong financials, especially because of celebrities and venture funds attached to the brand, and felt "extremely anxious" when he could not withdraw his funds from the platform. He further said that he did not know the platform borrowed his money. Cryptocurrency|Parent Zone|At the heart of digital family lifeFinality is probabilistic in the majority of blockchain systems, especially those that employ PoW consensus, like Bitcoin. The likelihood of reversing a transaction diminishes exponentially when blocks are put on top of a confirmed transaction after it has been included in a block. Source: AdobeThe U.S. derivatives markets regulator Commodity Futures Trading Commission (CFTC) has charged three decentralized finance (DeFi) protocols, Opyn, Inc., ZeroEx (0x), Inc., and Deridex, Inc. with offering illegal derivatives trading.According to an official statement released on Thursday, these allegations stem from the utilization of blockchain-based protocols and smart contracts by the three firms to function as trading platforms, a practice that the CFTC deems unlawful. In response, the CFTC has issued cease-and-desist orders to Opyn, ZeroEx, and Deridex while imposing financial penalties. Opyn faces a penalty of $250,000, ZeroEx $200,000, and Deridex $100,000. All three companies have chosen to accept these terms as part of a settlement to resolve the charges.CFTC Accuses DeFi Protocols of Offering Leveraged and Margined Retail Trading CFTC Director of Enforcement Ian McGinley underscored the regulator's stance on DeFi activities, stating, "Somewhere along the way, DeFi operators got the idea that unlawful transactions become lawful when facilitated by smart contracts. They do not."The CFTC's familiarity with ZeroEx could be attributed to its employment of Jason Somensatto, who joined the agency's financial technology research division in 2021 after his tenure at 0x Labs. He currently serves as the Head of Policy in North America for Chainalysis.The allegations against all three companies center on their illegal offerings of leveraged and margined retail commodity transactions using digital assets, according to the CFTC.Opyn, primarily associated with the oSQTH token, faces additional charges related to failing to properly register as a swap execution facility, designated contract market, and futures commission merchant. The company also neglected to establish a customer identification program in compliance with Bank Secrecy Act requirements. Deridex, based in North Carolina, faces similar additional violations.Opyn, ZeroEx, Deridex Cooperate with CFTC to Settle ChargesDespite these allegations, Opyn, ZeroEx, and Deridex are said to have cooperated fully in the CFTC's investigation, leading to reduced financial penalties as part of the settlement.An account linked to the 0x app Matcha announced on Thursday that "both 0x and Matcha continue to operate with no problem."One CFTC commissioner expressed dissent regarding the enforcement actions. Commissioner Summer Mersinger raised concerns about the lack of evidence of customer funds misappropriation or victimization by the DeFi protocols targeted by the CFTC's enforcement actions. She called for greater engagement with the public rather than punitive measures in cases like these.DYDX Token Receives Full Community Support for dYdX Chain Integration

Despite the setback, the Satlantis community can take solace in the fact that the team is actively exploring alternative platforms that encourage innovation instead of stifling it. Web 3 Gamer: Is there enough traction and interest on Web3 for a competitive stage that can make mainstream players willing to spend money? Guide Section 5305.2Bitcoin (BTC) price retraced from the $28,000 level on Monday as tensions heightened in the Middle East. Early clues from on-chain data trends signal how Bitcoin price could react mid-to-long term. “Bitcoin’s bullish flag is still in play — but it is taking too long to play out,” fellow trader Jelle continued, zooming out to monthly performance. “October is generally the most bullish month of the year, thus I’m still expecting this one to break out upwards.”BTC/USD annotated chart. Source: Jelle/XWar returns to crypto observers’ radarWhen it comes to price triggers, however, the unfolding conflict in Israel has Bitcoin and crypto market participants anticipating the bulk of volatility is still to come.With the memory of Bitcoin’s reaction to the war in Ukraine in February 2022 still in the background, Jelle was cautious over what might happen to BTC/USD next.“All I do know is that the Ukraine war triggered an 8% down candle, that was erased within a day,” part of the day’s X commentary explained.Mike McGlone, senior macro strategist at Bloomberg Intelligence, meanwhile described Bitcoin as now showing a “risk-off tilt” among traders.“My bias is the downward sloping 100-week moving average is likely to win the battle vs. the up trending 50-week. Spiking #crudeoil is a liquidity pressure factor,” he wrote on Oct. 8.BTC/USD vs. Fed funds futures with 50, 100-week MA chart. Source: Mike McGlone/XAt the time, the 100-week and 50-week MAs were at $28,938 and $24,890, respectively.McGlone touched on an unfolding macro asset phenomenon, with gold up 1% on the day and Brent crude up 3.25% ahead of the Wall Street open.“Markets reacting quite defensively,” Skew added, noting renewed strength in the U.S. Dollar Index (DXY), which gained 0.4%.Last week, the DXY hit its highest levels since late 2022.DXY 1-hour chart. Source: TradingViewCPI leads “huge week for inflation”In the U.S., attention focuses on the week’s macroeconomic data prints, headlined by the September CPI report.After jobs data last week showed that employment levels remained resilient despite anti-inflation moves from the Fed, Bitcoin briefly recoiled over fears that officials would enact another interest rate hike, further pressuring liquidity.While BTC/USD rebounded, those fears remain.“A good CPI data on Thursday could provide a chance to break out from this range, whereas a hot CPI would push us back into the range lows with the premise that the FED might be forced to hike 25bsp,” part of weekend analysis from popular commentator CrypNuevo read.Fed target rate probabilities chart. Source: CME GroupAccording to data from CME Group’s FedWatch Tool, markets are increasingly betting on rates staying at current levels on decision day, set for Nov. 1.Beyond CPI, this week will see the Producer Price Index (PPI) release, along with more jobless claims and a total of 12 Fed speakers delivering commentary. The minutes of the Fed meeting around the previous rates decision will also be unveiled on Oct. 11.Key Events This Week:1. September PPI Inflation - Wednesday2. Fed Meeting Minutes - Wednesday3. September CPI Inflation - Thursday4. OPEC Monthly Report - Thursday5. Jobless Claims Data - Thursday6. Total of 12 Fed speaker eventsHuge week for inflation and the Fed.— The Kobeissi Letter (@KobeissiLetter) October 8, 2023


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