Crypto

Cryptocurrency lending firm Nexo Financial denies the allegations of offering unregistered services to New Yorkers put forth by Attorney General Letitia James. Attorney General James directed two unnamed crypto lending companies to cease operations On Oct. 18, citing failure to register the business in New York and performing unlawful activities. Crypto lender Nexo is revealed to be one of the two companies to receive the cease and desist order from the Office of the Attorney General. Denying their involvement in unlawful operations, Nexo spokesperson said: “Nexo is not offering its Earn Product and Exchange in New York, so it makes little sense to be receiving a cease and desist order for something we are not offering in New York anyway.” According to Nexo, the allegations of operating an...

The day the crypto traders have long-awaited is almost here. At the opening bell on Oct. 19, a ProShares futures-based BTC ETF is scheduled to launch and analysts are predicting that additional ETFs will rollout over the coming week.  Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by bears to drop the price back below $60,000 was well defended by traders and at the time of writing their is a tug-o-war at the $61,000 to $62,000 zone.  BTC/USDT 1-day chart. Source: TradingView While many have predicted that the ETF launch is the fuel needed to push BTC to the $100,000 mark, not all analysts agree and some warn that the event could be another “buy the rumor, sell the news” event. A higher low would be “normal” price action One tra...

Cryptocurrency asset management firm Mudrex has announced the launch of its new Coin Sets investment vehicle. The new offering allows investors to diversify their asset portfolio across a range of high-performing decentralized finance, or DeFi, assets, as well as nonfungible tokens, or NFT’s.  The niche financial model fosters the distribution of risk exposure in what is often considered a volatile marketplace, allowing investors to bet on the value proposition of an entire sector, rather than the individual potential of a single asset. The basket of assets is also rebalanced on a monthly basis to recalculate the risk and opportunity for investors.  This is reportedly the first time a product of this kind has been launched to the retail marketplace, as opposed to mutual fund...

The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH) network effectively pricing out many participants.  Earlier this year the Polygon network, formerly known as MATIC, emerged as one of the top contenders in the race for an effective Ethereum layer-2 scaling solution, and the project’s QuickSwap DeFi platform was also one of the more successful Uniswap clones. The platform was quite popular initially but as other platforms like Arbitrum and Optimism popped up, discussions about Polygon fell to the wayside and some traders even refer to the platform as “slow”. Data from Flipside Crypto shows that the l...

Ghana is working to develop offline capabilities for its forthcoming central bank digital currency (CBDC) in a bid to promote its use across all segments of Ghanan society. According to a Oct. 18 report from Bloomberg, Kwame Oppong, head of fintech and innovation at the Bank of Ghana (BoG), revealed that the country’s digital currency “e-cedi” will support offline transactions during the Ghana Economic Forum on Monday. Oppong emphasized that offline functionality will allow Ghanans who lack reliable access to electricity and internet connectivity to embrace the country’s CBDC, stating: “The e-cedi would also be capable of being used in an offline environment through some smart cards.” A smart card is a plastic credit card-sized card with a chip that allows its user to transact using ...

The New York Attorney General’s office has alleged two unnamed crypto lending platforms operating in the state have engaged in unlawful activities and ordered three others to provide information on their businesses. In a Monday announcement, the New York Attorney General’s office said it has ordered two crypto lending platforms — at the time of publication, the names were still redacted — to “cease any and all such activity” relating to selling or offering securities and commodities within ten days. Attorney General Letitia James also requested that three crypto businesses operating in New York — names redacted — provide details on their lending products, policies, procedures, clients in the state and other relevant information. “My office is responsible for ensuring industry players do no...

ArpaChain, a secure computation network compatible with blockchain, uses an MPC protocol that creates ways for multiple entities to collaboratively analyze data and extract data synergies while keeping each party’s data input private and secure. Earlier this year, Arpa joined the commission on Blockchain technologies and the crypto economy of Russia. The development team also engaged in a large-scale test for preserving privacy. ARPA’s team is currently focused on architecture design for Randcast.  The project proposes a blockchain-based secure computation network of multi-party сomputation (MPC). ARPA cryptographically enables private smart contracts, unprecedented data-at-use privacy protection, as well as scalable computational sharding.  Lear...

Publicly-listed cryptocurrency and blockchain investment firm Tokens.com has announced a landmark agreement to acquire a 50% stake in metaverse real estate firm Metaverse Group in a deal worth in excess of $1.6 million. Tokens.com is expected to capitalize on the purchase — reportedly the highest purchase of a virtual real estate firm — through the development of asset opportunities for public retail investors seeking to gain greater exposure to nonfungible token, or NFT, and decentralized finance, or DeFi, assets. Metaverse Group operates a service akin to a traditional real estate firm in so much of property acquisition, development and management, in addition to marketing and promotional services. However, the group differs immensely due to its adoption of blockchain technology, gaming,...

Bitcoin (BTC) has barely started its run to new all-time highs if its relative strength index (RSI) repeats historical behavior. As noted by popular Twitter analyst TechDev on Oct. 18, RSI has yet to produce macro top signals for BTC/USD. RSI falls far short of classic macro top zone Bitcoin has kept the market guessing as it tracks sideways just below all-time highs without hitting them this month. With time, concerns have mounted that the blow-off top that many expect may not be as high as the bulls hope. Looking at technical data, however, the real state of Bitcoin’s bull run becomes apparent — there’s a lot more left. “Update on the 2-week RSI channel which has called every Bitcoin top and bottom in history,” TechDev explained. “Current RSI Value: 68. Proj...

Jack Dorsey is one of the leading Bitcoin maximalists and has been working hard to build excellent businesses in the Bitcoin ecosystem Digital payment platform Square is seeking to become one of the biggest players in the cryptocurrency mining industry. This comes as the CEO Jack Dorsey revealed the company’s plans to start manufacturing Bitcoin mining machines. Jack Dorsey has long admitted his admiration for Bitcoin and stated that he doesn’t really care much about the other cryptocurrencies. As a result, he has been focusing on Bitcoin and building his cryptocurrency business with Bitcoin in mind. In a Twitter thread over the weekend, Dorsey said he intends to build in the open, emphasising the need for greater decentralisation and accessibility of Bitcoin mining. https://twitter.com/ja...