New Canadian rules for crypto trading platforms leave little room for stablecoins - cyptoranking.com

2024-05-04

Popular crypto exchanges(2023 Update) 2024-05-04
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ChatyN is building a social application that offers a variety of features, such as AI streaming, voice/text chat, token swapping, and more. The platform will leverage decentralized identity solutions to establish a digital graph of how users interact with one another on the platform. Players can earn in-game rewards using ILV tokens, creating a play-to-earn mechanism that adds value to the token. New Canadian rules for crypto trading platforms leave little room for stablecoins21.co’s Dune dashboard reveals an important lead for Arbitrum in terms of TVL, as well. Its $4.22 billion is nearly threefold that of Optimism, which lands in second, at $1.27 billion. That said, both have been flipping their market capitalizations of late, and according to Coingecko, the former leads with a $30 million margin, sitting currently at $1.067 billion. Crypto winter put the NFT market into a deep freeze, causing sales and royalties to plummet. But the impact of Blur taking over the marketplace arena by doling out generous incentives and introducing a radically reduced royalty structure has made it even harder for other companies in the space.

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Smaller startups may be among the hardest hit. In a recent tweet, BlockTower Capital founder Ari Paul said that there’s a growing market for down rounds of between 70-90% equity. On the other hand, for the first half of 2023, the Bitcoin (BTC) network generated a mere $80 million. SEBI ban on agri commodities trade: Why farmers are protesting against the regulator in Mumbai3AC was stymied in an effort to combine some of its many court cases into a unified effort. Blockchain analytics firm Nansen’s CEO, Alex Svanevik, discussed six crypto sectors poised to drive the next bull cycle.

NFTs and Metaverse: Activewear and Luxury Brands Embrace Web3 Innovation 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. How much Bitcoin should I own?Investments into this asset have constituted $24 million, with Weiss Crypto, "continuing to assert itself as the #altcoin of choice among institutions," the X post says. Brazil’s Congress wants Binance boss Changpeng “CZ” Zhao and other exchange executives put up for indictment. Meanwhile, Binance froze Hamas-linked accounts on Israel’s request and Sam Bankman-Fried’s lawyers want to cross-examine Gary Wang over FTX lawyers’ involvement in Alameda loan approvals.Brazil’s Congress wants Binance’s CZ indictedA Brazilian congressional committee recommended law enforcement indict Binance CEO Changpeng “CZ” Zhao and three local Binance executives after wrapping up a probe into financial pyramid schemes.In an over 500-page final report published on Oct. 10 the committee accused Zhao and local Binance executives Daniel Mangabeira, Guilherme Haddad Nazar and Thiago Carvalho of fraudulent management practices, operating without sufficient authorization and illegally offering securities trading. The report claimed Binance, Zhao and others created an "opaque network of legal entities” controlled by Zhao with no other purpose than “evading compliance with the law."The committee recommended the Federal Public Ministry and the Securities and Exchange Commission (CVM) investigate Binance’s alleged tax evasion, money laundering, financing of organized crime and terrorism and illicit derivatives product sales.The recommendations aren’t legally binding but are instead suggestions — police and regulatory bodies will decide if to pursue mfurther action.Binance told Cointelegraph that it “remained committed” to collaborating with the committee and Brazilian law enforcement but “strongly rejects the exposure of our users or employees with baseless accusations of bad practices and the attempts to make Binance a target.”The indictment of 45 other people linked to multiple crypto companies was also recommended, with the committee alleging they took part in criminal schemes.Binance freezes Hamas-linked accounts after Israeli requestBinance has frozen accounts linked to Hamas militants, according to the company’s co-founder Yi He. This move comes in response to a request from Israeli law enforcement authorities. According to Yi He:“Hamas is a designated terrorist organization by the United Nations. Therefore, any organization, including banks and trading platforms, will need to cooperate on the receipt of freeze requests. This is not something Binance can decide on its own.“The company co-founder also added that “Palestine has an organized government. Hamas is a local militant group. They kill civilians; that’s the problem. Hamas is not Palestine; the freeze is targeted towards Hamas, not Palestine.“They also issued assurances that the freeze would only affect Hamas-linked accounts. With “ordinary civilian accounts” being unaffected. SBF seeks to probe FTX lawyers’ roles in $200 million Alameda loansSBF’s legal team is looking for permission to probe the alleged involvement of FTX lawyers in the issuance of $200 million worth of loans from Alameda that were approved by Gary Wang.As previously reported in the build-up to the highly anticipated trial, an Oct. 1 court ruling provisionally barred SBF from apportioning blame to FTX lawyers who were allegedly involved in structuring and approving loans between Alameda and FTX.United States Judge Lewis Kaplan granted the government’s motion and ruled that Bankman-Fried’s legal team would have to request permission to make any mention of FTX lawyers’ involvement throughout the trial.SBF’s attorneys argue that the prosecution has already established that FTX lawyers were present and involved in structuring and executing the loans and intend to carry out their own line of questioning over the scope of FTX counsel involvement.The defense adds that it could potentially introduce promissory notes that memorialized the loans to Wang, who has previously indicated to the prosecution in proffer meetings that he did not suspect FTX lawyers would coerce him to sign illegal agreements.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

With a wide array of in-game collectibles and the efficient utility of the token, it’s anticipated that there will be an increase in demand for the ILV token. Uptober Crypto Prices Phenomenon: Historical Trends Meet Market Speculation Crypto Exchange C3 Raises $6M to Offer FTX AlternativeThe system works by breaking down complex computations into simple logic gates. These gates can be constructed using Bitcoin scripts and chained together to output the required computations. However, implementing this proposal required sacrificing a significant portion of liquidity pool tokens. Investors initially panicked, resulting in a 4% price drop in just hours.

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