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How time-weighted average price can reduce the market impact of large trades
Time-weighted average price is an algorithmic trade execution strategy commonly used in traditional finance tools. The goal of the strategy is to produce an average execution price that is relatively close to the time-weighted average price (TWAP) for the period that the user specifies. TWAP is mainly used to reduce a large order’s impact on the market by breaking it down into smaller orders and executing each one at regular intervals over a period of time. How TWAP can reduce the price impact of a large order Bids can influence the price of an asset in the order books or liquidity in the liquidity pools. For example, order books have multiple buy and sell orders at different prices. When a large buy order is placed, the price of an asset rises because all of the cheapest buy orders are be...
Final Chapters of ‘Surviving R. Kelly’ Claim Singer Forced Aaliyah’s Family to Sign Non-Disclosure Agreement Following Annulment
The final two installments of Lifetime’s Surviving R. Kelly docuseries series ended with a pair of bombshell revelations about the imprisoned singer’s controversial marriage to a then-underage Aaliyah. The two episodes that debuted on Monday and Tuesday, focused in on Kelly’s 2022 federal trial, which included allegations that the singer and his team allegedly forced Aaliyah’s family to sign a non-disclosure agreement in the wake of the annulment of the performers’ brief marriage. Kelly and Aaliyah were married in secret in August 1994 when the “Rock the Boat” singer was just 15, even though their marriage certificate listed her age as 18; the marriage was reportedly annulled by Aaliyah’s parents in Feb. 1995. Interviews with some of Kelly’s and Aaliyah’s entourages revealed some of the de...
100 crypto lobbyists prepare for the fight of their lives as Congress resumes
Cryptocurrencies will be a hot topic as the United States Congress resumes and the battle lines are drawn between lawmakers for and against the fledgling financial industry. But the Blockchain Association reports that more than 100 crypto industry advocates are fighting to help strike the right balance between protection and innovation. The 118th U.S. Congress convened in Washington D.C. on Jan. 3. It’s scheduled to continue until Jan. 3, 2025, during the final two years of President Joe Biden’s first term. The crypto industry is currently in the crosshairs following several high-profile meltdowns last year, the largest being the collapse of FTX in early November. In a Twitter thread on Jan. 3, the director of government relations at the Blockchain Association, Ron Hammond, highlighted the...
‘Binance is the crypto market’: Arcane crowns the exchange 2022’s winner
During a year plagued by crises such as the collapse of FTX and Celsius, data shows that crypto exchange Binance has emerged as the clear “winner” of 2022 according to Arcane Research. A Jan. 3 report from Arcane highlighted that Binance saw its market dominance soar throughout 2022. As of Dec. 28 last year it had captured 92% of the Bitcoin (BTC) spot market and 61% of the BTC derivatives market by volume: “There are no other evident ‘winners’ of 2022 other than Binance when it comes to the crypto market structure and market dominance. No matter how you look at it in terms of trading activity, Binance is the crypto market.” Binance’s BTC spot market dominance was 45% at the start of 2022 meaning that it more than doubled, while its share of the BTC derivatives market increased by almost o...
Iran court orders the release of seized crypto mining equipment
Iranian authorities seized numerous crypto mining equipment over the past two years, citing stress on energy grids during winter. Now, a court ordered the release of crypto-mining equipment that was previously seized as a measure to conserve energy. Since 2021, Iran’s Organization for Collection and Sale of State-Owned Property (OCSSOP) has seized mining equipment — both authorized and unauthorized — due to looming power shortage concerns. However, the authorities had a change of heart amid winter as they ordered the release of the seizure. As explained by Abdolmajid Eshtehadi, the head of Iran’s Ministry of Economic Affairs and Finance: “Currently some 150,000 crypto mining equipment are held by the OCSSOP, a large part of which will be released following judicial rulings. Mach...
Indonesia to launch national crypto exchange in 2023: Report
As a part of its reform of crypto regulation, Indonesia will create a crypto exchange in 2023, according to reports. The platform is planned to be launched prior to a shift of regulatory power from commodities to securities authority. On Jan. 4, the head of the Commodity Futures Trading Regulatory Agency of Indonesia (Bappebti), Didid Noordiatmoko, stated that a crypto exchange should be set up this year. The move comes as a part of broader financial reform launched in December 2022. In accordance with the reform, in the next two years, the crypto oversight will be taken from Bappebti, a commodities-focused agency, by the Financial Services Authority (FSA). The Financial Sector Development and Reinforcement bill (P2SK) was ratified by the House of Representatives of Indonesia on Dec....
Australian Music Retailer Sanity to Close Its Physical Stores
BRISBANE, Australia — It’s closing time for Sanity, the once-great Australian music retail specialist which confirmed it would close all its bricks-and-mortar stores in the coming months. In a statement issued Wednesday (Jan. 4), Sanity announced plans to close its remaining 50 stores by the end of April 2023, in line with the lease expiry of each outlet. It’s a sad end to a music and entertainment chain which, like so many brands in the business of racking physical soundcarriers, has been left behind as consumers move to streaming platforms. “With our customer shifting to digital for their visual and music content consumption, and with diminishing physical content available to sell to our customer, it has made it impossible to continue with our physical stores,” explains Sanity CEO and ow...
US federal agencies release joint statement on crypto asset risks and safe practices
United States federal bank regulatory agencies started off the new year with a statement on crypto assets looking back at the troubles of the crypto sector in 2022. The Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint statement on Jan. 3 on past problems and their efforts to maintain sound banking practices in spite of those challenges. “It is important that risks related to the crypto-asset sector that cannot be mitigated or controlled do not migrate to the banking system,” the agencies stated. They identified eight specific risks, including fraud, volatility, contagion and similar familiar issues. Related: Approach with caution: US banking regulator’s crypto warning The agencies also noted that, “B...
Users need to go under the engine in Web3 — HashEx CEO
Hacking in Web3 is easy because it uses the same pattern that’s been used since the inception of the internet — pretending to be someone else. Due to the complexity and the “cool factor” of Web3 projects, one can easily — and mistakenly — assume that it takes Mr. Robot level of advanced hacking techniques to pull off a successful attack. In truth, however, it only takes a sinister ad placed on Google search results, an impostor Telegram group or a deviously-crafted email to break the security barriers of the Web3 ecosystem. Blockchain projects can use top-notch smart contracts, securely integrate crypto wallets and use best practices in each digital step across the board. But they still need help with the social aspect of user protection. Web3 takes the “ownership” from central entit...
Crypto adoption in 2022: What events moved the industry forward?
It’s no secret that the crypto market was gripped by bearish pressure for the entirety of 2022. However, amid all the volatility and chaos, many positive news stories appeared as well — especially regarding the global adoption of digital assets and crypto-related technologies in general. Looking back at 2022, here are some key adoption-related events that helped drive the industry last year. Polygon accrues 200 million addresses despite challenging 2022 Even though an air of financial uncertainty has shrouded the crypto market since the end of 2021, Polygon — a layer-2 scaling solution running alongside the Ethereum blockchain, allowing for speedy transactions and low fees — continued to witness a lot of growth in 2022. To this point, the network’s unique address count recently surpassed t...
Ripple CEO optimistic about US ‘regulatory clarity for crypto’
Ripple’s CEO, Brad Garlinghouse, shared in a Jan. 3 Twitter thread he’s “cautiously optimistic” about the United States gaining “breakthrough” regulatory clarity for the cryptocurrency industry in 2023. To mark the first day of the 118th Congress, Garlinghouse shared his hopes of 2023 being the year the U.S. gained regulatory clarity for crypto and added support for regulation is “bipartisan & bicameral.” Today is the first day of the 118th Congress. While prior efforts at regulatory clarity for crypto in the US have stalled, I am cautiously optimistic that 2023 is the year we will (finally!) see a breakthrough. A thread on why… — Brad Garlinghouse (@bgarlinghouse) January 3, 2023 Garlinghouse said the U.S. was not starting with a “blank slate” for regulation, r...
Warner Music Shareholder Who Named Label in Sexual Misconduct Suit Fails to Win Board Seat
Former Atlantic Records employee Dorothy Carvello lost her bid for a seat on Warner Music Group’s board of directors last month after failing to comply with certain requirements in the company’s bylaws, spokespeople for Carvello and the record label said on Tuesday (Jan. 3). Under a new rule passed by the U.S. Securities and Exchange Commission last year that makes it easier for minority shareholders to wage campaigns for board seats, Carvello sought to nominate herself for a seat on WMG’s board, to be voted on at the next shareholder meeting. The activist and author, who alleged in her memoir, Anything for a Hit: An A&R Woman’s Story of Surviving the Music Industry, that she was subjected to sexual abuse and misconduct while working at Atlantic from 1987 to 1990, plans to run again ne...
