Basel eases bank capital rule for derivatives clearing - cyptoranking.com

2024-05-07

Popular crypto exchanges(2023 Update) 2024-05-07
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The project would also later reveal that its site suffered from a distributed denial of service (DDoS) attack. A third related incident in October 2022 prompted former FTX CEO Sam Bankman-Fried, currently on trial for alleged fraud and money laundering charges, to reimburse $6 million to customers affected by a phishing attack. Basel eases bank capital rule for derivatives clearingThe United States economy seems like it is refusing to be derailed. It added a staggering 336,000 jobs in September, defying most expectations. This achievement becomes all the more remarkable against the backdrop of soaring yields on longer-term Treasury bonds and surging mortgage rates.The message embedded in the job data is crystal clear: the world’s largest economy continues to charge forward, even in the face of aggressive monetary tightening. It’s a testament to the economy’s resilience, and suggests that higher interests are here to stay for an extended period. While this news could send shivers down some spines, particularly for those invested in stocks, it’s crucial to understand the bigger picture. Stocks may appear less enticing when you can secure a 6% return with a savings account, yet we may be reaching an inflection point with bonds. It has to get worse before it gets betterThe bond market has witnessed a historic rout, described by Bank of America Global Research as the “greatest bond bear market of all time.” But the analysis isn’t all doom and gloom — there are hints that the relentless sell off in U.S. Treasuries could come to an end. And if we do indeed see a recovery, it could signal the start of a new bull market for risk assets.Related: Bitcoin ETFs: A $600B tipping point for cryptoTurning to crypto, it’s crucial to recognize that short-term Bitcoin (BTC) price action remains somewhat linked to regulatory decisions, particularly those pertaining to a Bitcoin spot ETF. So far, all of the positive news surrounding spot ETFs has failed to move Bitcoin out of its holding pattern. A green light on this front could unleash substantial inflows into BTC, providing the much-awaited impetus for a resurgence. It would also be remiss not to mention the ongoing FTX saga, which is currently playing out in the courts and damaging crypto’s reputation.United States Federal Funds Effective Rate, 1955-2023. Source: Board of Governors of the Federal Reserve System.But here’s the twist — what may spell bad news for financial markets could be good for the broader economy. The Federal Reserve holds a pivotal role in shaping the path for risk assets, and it has just two more meetings before the end of the year. Should the Fed decide to suspend further rate hikes, it could act as a catalyst, triggering market anticipation of an impending rate cut. This anticipation could, in turn, set the stage for a massive risk-on rally across various asset classes, including cryptocurrencies.Festive revelry could set the tone for 2024The last three months of the year often introduce a heightened Santa rally. After the year we’ve had, it might soften the blow and pave the way for a more palatable 2024. History shows that the market tends to gather momentum during this festive season, with a surge in buying activity and positive sentiment among investors. Among these factors, regulatory decisions regarding spot ETFs and any potential pause in rate hikes, or even a shift in the Fed’s messaging concerning future hikes will be watched closely. So while the cheer from September’s jobs data tends to drive immediate headline moves in the market, it doesn’t necessarily steer the long-term thinking of the Fed.Related: Sky-high interest rates are exactly what the crypto market needsLooking ahead into 2024, we are faced with the prospect of a BTC “halvening” in April, historically a positive event for crypto. However, the broader macroeconomic conditions have signalled some signs of instability. Bitcoin’s ongoing correlation with stock markets adds an extra layer of complexity to the equation. The outcome hinges on the messaging from the Fed — and decisions made by the Securities and Exchange Commission (SEC) regarding spot ETFs. If the macroeconomic backdrop remains uncertain, the Fed may pivot toward rate cuts, potentially altering the trajectory of both traditional and digital asset markets. With hints of a bond market recovery and the prospect of regulatory clarity in the crypto space, we could see brighter days ahead. As we approach the festive season, the potential for a Santa rally rekindles the type of hope and momentum that ignites the crypto market. While some challenges may loom, history teaches us that sometimes, it gets worse before it gets better.Lucas Kiely is chief investment officer of Yield App, where he oversees investment portfolio allocations and leads the expansion of a diversified investment product range. He was previously the chief investment officer at Diginex Asset Management, and a senior trader and managing director at Credit Suisse in Hong Kong, where he managed QIS and Structured Derivatives trading. He was also the head of exotic derivatives at UBS in Australia.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. “Bitcoin, like the spiritual leaders who have come before it in the Middle-Eastern desert, is a miraculous gift capable of transforming an oppressed, forgotten people. The Palestinian economy is a multi-billion dollar economy that unfortunately benefits mostly outsiders. But if Bitcoin were adopted as the official currency, Palestinians would be able to shape their own economic destiny and in so doing their sovereign destiny,” Keiser said.

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Crypto trader Mike Alfred implied a correlation between the U.S. government’s policies and Bitcoin price actions in response to Biden’s announcement about the cancellation of $127 billion in student debts for over 3.7 million Americans. Brooks said they have yet to identify any individuals or groups that could be behind the FTX hack, and that investigations are continuing.3Commas on ‘heightened alert’ after several user accounts hacked GMT Price Prediction: StepN is Still Bleeding UsersThere are some flaws in buying altcoins. Since there are a number of them, it’s challenging to pick out the best altcoins to invest in. Altcoins present a greater risk, and many of the smaller altcoins are uncertain investments or scams. According to analyst @Washigorir, the price of BTC is likely to reach $137,000 in less than a year. According to him, this is possible as early as August 2024, just a few months after Bitcoin’s next halving. This event is currently projected for April 17, 2024.

At the time of publication, Bitcoin’s price stands at $27,961. Read more: Behind the times: How LVR is an ‘unfair game’ for DeFi liquidity providers Uphold vs. Coinbase: Which Should You Choose?Although the S&P 500 and the cryptocurrency market are not strongly correlated, the analysts mentioned that upticks in the traditional stock market increase the probability of prices in the cryptocurrency market rising. As a result, the S&P 500 recovering over the past few days could lead to ADA’s price entering into a strong move towards the upside. Significant enthusiasm for NFTs was also observed in the area, with UAE NFT websites receiving 4 million web traffic visits between July 2022 and June 2023.

Imagine a virtual world where you can roll up your sleeves and get to work in an entirely new way. ZTX is taking a bold step forward by introducing a unique concept in its upcoming beta release. The central theme of this update revolves around virtual labor – a concept that will revolutionize the way users engage with the metaverse. Best Crypto Exchanges in the UK 2023 - 13 Bitcoin Exchanges Reviewed UK's Home for CryptoThe Chiliz (CHZ) token is one of the most frequently used tokens by sports clubs. In this week’s newsletter, read about how a nonfungible token (NFT) artist raised money to support a cancer charity and why payments platform PayPal has filed a patent application for an NFT marketplace. Check out Meta’s new photorealistic metaverse avatars and, in other news, learn why Neal Stephenson’s metaverse blockchain project remains optimistic despite waning interest.NFT artist raises $140,000 for cancer support charityNFT artist Trevor Jones donated almost $140,000 to Maggie’s Edinburgh — an organization dedicated to cancer treatments — after raising funds from a Web3 event in France. The amount raised from the event will help 4,000 patients affected by cancer and those who need critical support. According to Maggie’s Edinburgh, the funds raised by Jones will be the highest single donation from an art event in the organization’s history. The money collected will support services for cancer patients and their families.Continue readingPayPal applies for NFT marketplace patent for on- or off-chain asset tradingPayment platform PayPal filed a patent application for an NFT transfer and purchase system. The patent application was filed at the United States Patent and Trademark Office in March and was made available publicly in September. The patent described a system that lets users buy and sell NFTs through a service provider. While the provider was not mentioned, the document did mention Ethereum, suggesting that it may be based in the network. Continue readingThe metaverse is real: Zuck’s “incredible” photorealistic tech wows Crypto TwitterAs critics continue to declare the metaverse dead, Meta CEO Mark Zuckerberg showcased the company’s developments in the space in a podcast using photorealistic avatars in the metaverse. Using Meta’s Quest 3 headsets and noise-canceling headphones, Zuckerberg and podcast host Lex Fridman engaged in an hour-long interview using metaverse avatars. The improvements got the attention of Crypto Twitter, with some comparing previous iterations of Zuckerberg’s metaverse with the present one, saying the “metaverse has upgraded.”Continue readingNeal Stephenson’s blockchain project holds discovery month as metaverse hype wanesMetaverse blockchain project Lamina1 is holding an event called the Open Metaverse Discovery Month to let builders and creators experience the metaverse. The company believes that despite the lower interest in the metaverse, the concept will live as long as people are willing to spend time and money on it. According to Lamina1 CEO Rebecca Barkin, the project was able to attract 50,000 builders despite the crypto winter and people writing eulogies for the metaverse. The executive remains optimistic that its founder, Neal Stephenson’s vision of the metaverse will challenge corporate greed and give more autonomy to creators. Continue readingCHECK OUT COINTELEGRAPH’S NFT STEEZ PODCASTThanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.DAOs can help scientists find funding and community, says Nature science journal

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