Crypto
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Chainlink launches price feeds on Solana to provide data to DeFi developers
Blockchain oracle platform Chainlink has announced the launch of its price feeds on the Solana blockchain. The integration allows decentralized finance (DeFi) developers to use the feeds within their decentralized applications (DApps). In an announcement sent to Cointelegraph, the blockchain oracle platform notes that upon launch, seven price feeds will be available to Solana developers, including BTC/USD, ETH/USD and USDC/USD. At the later stages of the integration, more Chainlink oracle services and price feeds will be made available. Anatoly Yakovenko, co-founder of Solana, believes the Chainlink integration will help developers building DeFi-based DApps on Solana. “Chainlink’s launch on Solana will give DeFi developers access to the most widely used oracles in blockchain,” h...
Top 3 must-have tokens in June
Waves (WAVES), IOTA (MIOTA), and Stellar (XLM) are some of the best tokens to get in June. Waves increased by 5%, IOTA by 4%, and Stellar by 3% in the last 24 hours. Waves also increased by 121%, IOTA by 13%, and XLM by 18% in the last seven days. When it comes to getting into the sphere of cryptocurrency investments within June of 2022, things can get quite tricky due to the fact that there are over 19,700 cryptocurrencies available to pick from. As such, many newcomer investors will typically have a hard time deciding on which tokens to get. As such, we have created a list of the three must-have tokens in anyone’s portfolio. Waves (WAVES), IOTA (MIOTA), and Stellar (XLM) have showcased bullish outlooks recently and are the best token options to get in June of 2022. On May 27, Waves...
‘Pig slaughtering’ crypto scams reap millions on Silicon Valley dating apps
Lonely hearts in Silicon Valley are reportedly falling prey to a wave of “pig slaughtering” crypto scams via dating applications. An investigator for cybersecurity company Sift found that one in 20 people who approached her on dating apps in San Francisco was working the scam. Pig slaughtering, or butchering, is a type of scam in which an individual/group puts in weeks or months of work to build a fake relationship with the victim, metaphorically fattening them up. The end goal is to get the victim to invest in crypto via either a duplicated version of a legitimate website or by transferring funds to a dodgy wallet address. The scammers often shift the conversations over from dating apps or social media to encrypted messaging services such as WhatsApp and put in countless hours of daily co...
Kenyan energy company entices Bitcoin miners with geothermal power
Kenyan energy company KenGen has put out a call to Bitcoin miners to move nearby and buy its excess renewable power capacity. KenGen claims 86% of its energy is generated from renewable sources, mostly geothermal from pockets of ground source heat in the Great Rift Valley. Local news outlet The Standard reported that KenGen has space at its new industrial park in Olkaria, near its flagship geothermal power station, which could be rented to Bitcoin (BTC) miners. The Acting Director of geothermal development at KenGen Peketsa Mwangi said that his company was willing and eager to have the miners call Kenya home. “We’ll have them here because we have the space and the power is near, which helps with stability.” Despite his enthusiasm, there have not yet been any reports of miners looking to go...
Crypto.com gets nod in Dubai and FTX launches in Japan
Two out of the top 10 largest cryptocurrency exchanges by volume will expand into new markets, with Crypto.com obtaining a provisional crypto license in Dubai and FTX launching in Japan. Crypto.com announced on June 2 that the Dubai Virtual Assets Regulatory Authority (VARA) provided the exchange with provisional approval of its Virtual Asset License giving the company the go-ahead based on initial compliance checks. The exchange said that VARA will carry out further due diligence and other mandated requirements before its full operating license is issued which it expects to happen in the “near term” Crypto.com said in March it would create a regional office in the United Arab Emirates (UAE) largest city after it enacted new laws for crypto and created VARA with the goal of making Dubai a ...
Vitalik shows support for Optimism’s governance structure and OP gas proposal
Ethereum co-founder Vitalik Buterin has shown support for Optimism’s new governance structure, noting that proposals such as using the OP token for gas fees shows “explicit representation of non-token-holder interests.” The Ethereum layer-2 scaling solution deployed the first round of its long-awaited OP token airdrop on June 1 as part of its new governance project the “Optimism Collective.” Optimism’s new governance structure involves two parties dubbed the “Token House” and “Citizens’ House.” The former is composed of OP governance token holders and the latter consists of “soul-bound” non-transferrable citizenship NFT owners. While it is unclear if Buterin is fully on board with a proposal from June 2 to utilize the OP governance token for gas fees, or just happy that such a discussion w...
Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility
In a May 30 tweet, Ethereum (ETH) core developer Tim Beiko confirmed that the much-anticipated Ropsten testnet trial of the Merge from proof-of-work to proof-of-stake can be expected “around June 8 or so.” Interestingly, Ether’s price action is relatively unchanged despite the unexpected bullish announcement. There was a +10% spike on May 30, but those gains were given back between May 31 and June 2. It is very likely that the Merge — currently anticipated in August — has yet to be priced in, giving traders and investors a possible early entrant advantage. It’s essential to monitor on-chain data From an investing and trading viewpoint, cryptocurrency markets have a distinct disadvantage in comparison with regulated markets and transparency. The stock market is chock full of legally r...
401(k) provider ForUsAll sues US Labor Dept over anti-crypto compliance release
ForUsAll, a 401(k) retirement provider, filed suit against the United States Department of Labor (DOL) and Martin Walsh as Labor secretary in U.S. District Court in Washington, D.C. on Thursday. The company is seeking the withdrawal of a DOL compliance assistance release issued in March, citing the Administrative Procedure Act, which safeguards against arbitrary official encroachment on private rights. The DOL release warned that the department’s Employee Benefits Security Administration is expected to “conduct an investigative program” aimed at 401(k) plans that contain cryptocurrency. ForUsAll CEO Jeff Schulte told Cointelegraph: “The government is suddenly trying to restrict the type of investments Americans can choose to make because they’ve decided today that they don’t like a certain...
3 reasons why Ethereum price is pinned below $2,000
Ether’s (ETH) market structure continues to be bearish despite the failed attempt to break the descending channel resistance at $2,000 on May 31. This three-week-long price formation could mean that an eventual retest of the $1,700 support is underway. Ether/USD 4-hour price at Bitstamp. Source: TradingView On the non-crypto side, a number of equities-related factors are translating to negative sentiment in the crypto market. This week Microsoft (MSFT) lowered its profit and revenue outlook, citing challenging macroeconomic conditions. The U.S. Federal Reserve signalled in its periodic “Beige Book” that economic activity may have cooled in some parts of the country and the Fed is about to reduce its $9 trillion asset portfolio to combat persistent inflation. On the bright ...
OpenSea ‘insider trading’ could see NFTs labeled securities: Former SEC lawyer
Former Securities and Exchange Commission lawyer Alma Angotti says this week’s news about an OpenSea employee being charged with insider trading could open the doors to non-fungible tokens being labeled as securities. On Wednesday, in a first for the industry, prosecutors in Manhattan charged former OpenSea product manager Nathaniel Chastain with insider trading. The U.S. Attorney’s Office for the Southern District of New York said the exact charges were “wire fraud and money laundering in connection with a scheme to commit insider trading.” Until now, the phrase “insider trading” has not been used in regard to cryptocurrency and typically refers to insider trading of securities. Related: EU commissioner calls for global coordination on crypto regulation Angotti was once an enforceme...
Terra’s collapse prompts UK regulation of stablecoins
The collapse of UST and LUNC has made it a matter of urgency for the United Kingdom as well as other jurisdictions to have proper regulatory frameworks for digital assets The, the UK hope will ensure economic and financial stability as well as safeguard investors from losing out on their investments by oversighting stablecoin issuers. The United Kingdom has become the latest country to express concern on the stability of stablecoins and call for their regulation. This echoes the sentiments of the European Union as well as the United States Consumer Financial Protection Bureau – both having raised questions on the long-term stability of these digital assets. The authorities, in the consultation paper they released, hope that proper regulation will create a conducive environment for investor...
Tesla chief Elon Musk and Doge co-founder Jackson Palmer have a spat
Jackson Palmer questioned Musk’s coding skills over a past Python script designed to automatically report crypto bots Musk, in response, termed Palmer’s script worse than a 12-year-old’s code Tesla CEO Elon Musk and Dogecoin co-founder Jackson Palmer have in the past pitted against each other, and they are back at it again. This time the conversation is over coding skills. Palmer’s interview with Crikey Jackson Palmer, who co-founded popular meme coin Doge alongside Billy Markus, recently spoke to Australian news outlet Crikey, in which he went on an offensive against Elon Musk. Palmer ran down back the memory lane and recalled a time when he created a script to automatically report crypto bots and scams on Twitter, which he says he ran by the Twitter team, Musk, and other crypto influence...
