Crypto
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Crypto funds under management drop to a low not seen since July 2021
Digital asset investment products saw $141 million in outflows during the week ending on May 20, a move that reduced the total assets under management (AUM) by institutional funds down to $38 billion, the lowest level since July 2021. According to the latest edition of CoinShare’s weekly Digital Asset Fund Flows report, Bitcoin (BTC) was the primary focus of outflows after experiencing a decline of $154 million for the week. The removal of funds coincided with a choppy week of trading that saw the price of BTC oscillate between $28,600 and $31,430. BTC/USDT 1-day chart. Source: TradingView Despite the sizable outflow, the month-to-date BTC flow for May remain positive at $187.1 million, while the year-to-date figure stands at $307 million. On a more positive note, the multi-asset cat...
Best staking tokens not to miss on May 24
Cardano (ADA), NEAR Protocol (NEAR), and Ankr (ANKR) are some of the best tokens that you can get for staking. Each token can be staked and has experienced some level of growth throughout the past few months. Cardano’s trading volume increased by 50%, while NEAR’s trading volume increased by 27% in the last 24 hours. Cardano (ADA), NEAR Protocol (NEAR), and Ankr (ANKR) are solid staking tokens that you can get. On May 20, 2022, NEAR Protocol announced that Davos is hosting the annual World Economic Forum and in support, the NEAR community and the Sweat Community partnered up to encourage Davos delegates to track their steps and donate to the Free Ukraine Foundation. Then, Ankr introduced advanced APIs for Web3 developers. On May 24, 2022, The Cardano Foundation announced that the...
LongHash Ventures and Protocol Labs unveil the 3rd Accelerator Filecoin Cohort
Asia’s first Web3 Accelerator and leading Asias Web3.o venture fund, LongHash Ventures, has launched its third LongHashX Accelerator Filecoin Cohort in partnership with Protocol Labs, the creator of Filecoin and IPFS. This being the third Filecoin accelerator program by LongHash Ventures and Protocol Labs, it proves a continuation of the collaboration between the two. The current accelerator program is geared toward accelerating the early stage of project development on the Filecoin blockchain. In a nutshell, the LongHashX Accelerator Filecoin Cohort will take 12 weeks and it will provide developers and founders with the network, funding, and knowledge required to effectively develop and launch their blockchain projects on Filecoin. Following the announcement of the accelerator program, th...
Polkadot hub t3rn deploys testnet parachain on Rococo
t3rn, a new cross-chain smart contract hub for Polkadot, has deployed its testnet parachain on the network’s primary testing bed, Rococo, CoinText learned from a press release. The network, called t0rn, is now plugged into the rest of the parachain testnets of the ecosystem. Vital to ensure functionality Deploying Rococo is key to ensure t3rn’s unique technological innovation’s functionality in the Polkadot ecosystem. It aims to solve a critical issue in cross-chain interaction, reaching across various consensus environments: making sure a transaction is validated on both ends. Through t3rn’s atomic cross-chain execution model, it’s guaranteed that both sets of transactions will succeed or roll back in case of failure. The system is based on t3rn’s Circuit, an execution t...
Crypto Derivative Traders Can Access TradingView with Broker Eightcap
Melbourne, Australia, 24th May, 2022, Chainwire Australian FX and CFD provider Eightcap has recently announced that it has partnered with TradingView, allowing crypto derivative traders to trade directly from TradingView’s charts into their Eightcap trading accounts. Crypto derivative traders will have access to Eightcap’s full suite of crypto derivatives, including altcoins, crypto-indices, and crypto-crosses. Eightcap’s integration with TradingView is the next step for the award-winning broker as it continues to build a home for crypto traders. TradingView is a charting platform and social network that attracts over 30 million monthly users and ranks as the number one website for investing. The platform enables crypto traders to identify and analyse trading patterns using TradingView’s c...
Coinbase offers ‘thousands of tokens’ in expanded swap service
America’s largest crypto exchange Coinbase has added the BNB Chain, formerly Binance Smart Chain, and Avalanche to the Coinbase Wallet’s list of supported networks where users can swap and store cryptocurrencies. The Tuesday blog post from the exchange boasts that the added functionality will provide access to “thousands of tokens,” which constitute a “greater variety than most traditional centralized exchanges can offer.” One Wallet. Even more networks. Thousands of tokens. Now supporting token swaps on @avalancheavax and @BNBCHAIN on Coinbase Wallet. Learn more -> https://t.co/ZdEg1T8s53 pic.twitter.com/prWhSlPYl8 — Coinbase Wallet (@CoinbaseWallet) May 23, 2022 The added functionality to BNB Chain and Avalanche brings the total supported networks up to four, including Ethereum a...
Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23
It’s been two weeks since the shock of the TerraUSD (UST) depegging, but the long waves of this event are still coming in. The Congressional Research Service described the UST crash as a “run-like” scenario and claimed that the crypto industry has not reached the same level of “adequate regulating” as the traditional finance market. Michael Barr, former advisory board member of Ripple Labs and United States President Joe Biden’s pick for a vice chair for supervision at the Federal Reserve, definitely agrees with that. During the confirmation hearing, he mentioned “some significant risks” that innovative technologies and cryptocurrencies, in particular, bring along. It’s not only in the U.S. where the regulators got concerned about stablecoins. The executive director of markets ...
WEF 2022, May 24: Latest updates from the Cointelegraph Davos team
Disclaimer: This article is being updated all day long. All timestamps are in the UTC time zone, with updates in reverse order (the latest update is placed at the top). WEF 2022, the first in-person World Economic Forum event since the pandemic started, continues to bridge traditional finance with the future of money on its third day. The Cointelegraph ground team, including editor-in-chief Kristina L. Corner, head of video Jackson DuMont and news reporter Joseph Hall, is deployed in Davos, where the event is held, to get the most recent developments from WEF 2022. Check out all the important details from May 23 in one easy-to-read page! The third day of WEF 2022 will see the OECD secretary-general Mathias Cormann share his thoughts on a reimagined global tax system and industry experts di...
ADDX bags $58M to reduce min. private investment by 10x via smart contracts
ADDX, a blockchain and smart contract-based digital securities platform from Singapore raised $58 million from mainstream financial institutions to fund its goal of reducing minimum private investment sizes via tokenization and fractionalization. The Monetary Authority of Singapore regulates ADDX as a digital securities exchange that aims to democratize private markets. The Pre-Series B funding round saw participation from the Stock Exchange of Thailand (SET), UOB, Nasdaq-listed Hamilton Lane and Thailand’s Krungsri Bank, which has brought total funds raised by ADDX to around $120 million. As explained in the announcement, ADDX uses blockchain technology and smart contracts to tokenize and fractionalize private markets, including pre-IPO equity, private equity, and hedge funds and bonds. A...
Fed report finds most Americans who own crypto tend to be high income hodlers
The United States Federal Reserve Board has included data on cryptocurrency in its new Economic Well-Being of U.S. Households in the 2021 report. The Fed’s ninth annual report looked at survey results from 11,000 people questioned in October and November 2021. The report indicated financial wellbeing is the highest it has been since reporting began, with 78% of U.S. adults “doing okay or living comfortably financially.” That is an increase of 3% over the last three years. As a diagnostic of financial fitness, the report cites the 68% of Americans who say they could cover a $400 emergency expense using cash or its equivalent alone. The report looked at cryptocurrency usage for the first time. It found that 12% of U.S. adults held or used crypto in 2020, with 11% holding it as an inves...
Core Ethereum developer details changes to expect after the Merge
Core Ethereum (ETH) developer Tim Beiko has outlined a series of suggestions and expectations about the upcoming Merge for applicatio and protocol developers on Ethereum. For the average users of apps and protocols, Beiko simply suggested testing things out to ensure nothing is broken as more tests are executed. He tweeted on May 24 “Run stuff, if something is unclear or broken, leave a comment.” Yes! Run stuff, if something is unclear or broken, leave a comment, as you probably aren’t the only one with that issue User PoV guides, how-go’s, etc. are always super useful, too! https://t.co/tyWqgVBSuc — Tim Beiko | timbeiko.eth (@TimBeiko) May 23, 2022 Beiko urged users and developers to “pay attention and make sure you are ready” for the Merge. The Merge is the highly complex and long-awaite...
South Korean police request exchanges freeze LFG related funds
Crypto exchanges in South Korea have been issued notices from police requesting the sequestering of funds related to the Luna Foundation Guard. On May 23rd, 2022, Korean authorities sent a request to the top crypto exchanges in the country to prevent funds from being withdrawn. Specifically, the Seoul Metropolitan Police Agency asked to prohibit the Luna Foundation Guard from taking any action. The police claim that clues have been found that may link the organization to embezzlement. The Luna/Terra algorithmic stablecoin crash, which reduced the value of the coin by over 99%, crushed investor portfolios overnight earlier this month. However, this request is not a demand and is not enforceable by law. Each exchange can choose how they would like to respond, but it is not yet known ho...
