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BTC to outperform ‘most major assets’ in H2 2022 — Bloomberg analyst
Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, stated October has historically been the best month for Bitcoin (BTC) since 2014, averaging gains of about 20% for the month, and that commodities appearing to peak could imply that Bitcoin has reached its bottom. In an Oct. 5 Bloomberg Crypto Outlook report, McGlone says while the rise of interest rates globally is putting downwards pressure on most assets, Bitcoin is gaining the upper hand when compared with commodities and tech stocks like Tesla, with the report noting: “When the ebbing economic tide turns, we see the propensity resuming for Bitcoin, Ethereum, and the Bloomberg Galaxy Crypto Index to outperform most major assets.” McGlone notes that Bitcoin has its lowest ever volatility against the Bloomberg Comm...
US lawmakers request Justice Dept share CBDC assessment
Republican members of the U.S. House Financial Services Committee have requested the Department of Justice provide its assessment and legislative proposals regarding a digital dollar within ten days. In an Oct. 5 letter addressed to U.S. Attorney General Merrick Garland, 11 Republican lawmakers asked the Justice Department for a copy of its “assessment of whether legislative changes would be necessary to issue a CBDC,” as required by President Joe Biden’s executive order on digital assets issued in March. The House members claimed the “appropriate place for the discussion” on legislation concerning a central bank digital currency would be in the U.S. legislative branch rather than the federal executive department. “The House Committee on Financial Services […] has spent considerable ...
OpenSea to allow users to submit bulk NFT listings and purchases
OpenSea, the digital marketplace for crypto collectibles and nonfungible tokens (NFTs), announced in a series of tweets on Oct. 5 that the platform will officially allow its users to bulk list and bulk purchase up to 30 digital collectible items in a single flow. We’re officially live with bulk listing and buying! You can now list and buy up to 30 items in a single flow on OpenSea.Let’s walk through what this experience looks like in this — OpenSea (@opensea) October 5, 2022 In the case of bulk buying, the platform will allow its users to add up to 30 items from the same chain to their cart before finalizing their purchases in a single transaction, reducing costs associated with gas fees and allowing the process to be more convenient and streamlined. The company explained: “In your c...
Near Protocol partners with Google Cloud to support Web3 devs
Near Foundation has announced a new partnership between Google Cloud and Near Protocol, providing infrastructure for Near’s Web3 startup platform, Pagoda. According to an Oct. 4 announcement, this partnership will allow Google Cloud to provide “technical support” to Near grant recipients by providing infrastructure for Near’s Remote Procedure Call node provider to Pagoda. Near Protocol is a decentralized application (DApp) platform that focuses on usability among developers and users. It utilizes sharding technology to achieve scalability and, as a competitor to Ethereum, is also smart-contract capable and a proof-of-stake blockchain. Launched in February 2022, Pagoda is a startup platform that provides Web3 developers building on Near with a full-stack toolset to construct, launch a...
Taliban had a ‘massive chilling effect’ on Afghan crypto market: Report
The Taliban’s takeover of Afghanistan has had a “massive chilling effect” on the local cryptocurrency market, bringing it to an effective “standstill,” according to a recent report. Blockchain analytics firm Chainalysis in an Oct. 5 report stated the Middle East and North Africa (MENA) region saw the largest crypto market growth in 2022 but noted that Afghani crypto dealers had three options: “flee the country, cease operations, or risk arrest.” The report states after the Taliban seized power in August 2021, crypto value received in August and September that year spiked to a peak of over $150 million, then fell sharply the following month. Before the takeover, Afghani citizens would on average receive $68 million per month in crypto value mainly used for remittances. That ...
Maria Fernandez, EVP/COO of Sony Music Latin Iberia on ‘Latin Hitmaker’ Podcast
As COO and executive vp of Sony Music Latin Iberia, María Fernández is one of the most powerful women in Latin music. But power is rarely on her mind. “Power is something I never sought and something I never really think about,” says Fernández. “To me, real power is the power that doesn’t need to be displayed.” Explore See latest videos, charts and news See latest videos, charts and news Fernández was long a Sony secret weapon who worked largely behind-the-scenes, until her boss, CEO/president Afo Verde, nudged her forward. “He’s the one who told me that to truly understand this business and contribute to it, I had to spend more time with managers, with artists, with people in the industry. It allowed me to have a vision that normally people that are in finance may not have,” says Fernánde...
OPEC oil output cut fuels Dems’ gas price fears
Average gasoline prices sat at $3.83 per gallon on Wednesday, nearly seven cents higher than a week ago, but well below the record high $5.01 per gallon average national price reached in June. The White House has touted its tapping of the nation’s Strategic Petroleum Reserve as driving that drop, crediting the release of more than 171 million barrels so far this year for cooling off the market. Those supplies will continue to flow out federal storage facilities through November, but they will pale with the potential drop in OPEC supplies. President Joe Biden, who earlier this year urged OPEC nations and their allies in to keep oil flowing, criticized OPEC’s move. “I am concerned, it is unnecessary,” Biden told reporters as he departed the White House Wednesday morning. The White House said...
EU Council approves MiCA text, proposal moves to Parliament for a vote
Representatives from a committee with the European Council have moved forward with regulating digital assets in the European Union through the Markets in Crypto-Assets, or MiCA, framework, sending the finalized text to parliament for a vote. According to an information note on Oct. 5, the European Council’s Permanent Representatives Committee approved the MiCA text and sent it to the chair of the European Parliament Committee on Economic and Monetary Affairs. Edita Hrdá, chair of the Permanent Representatives Committee, confirmed that the crypto framework proposal would be enacted “should the European Parliament adopt its position at first reading” in the same wording. The MiCA proposal, first introduced to the European Commission in September 2020, aims to create a consistent regulatory f...
Reversible blockchain transactions would improve cryptocurrency
A proposal out of Stanford University to make crypto transactions reversible is adding a wrinkle to discussions of crime and fraud prevention. Researchers suggested that mutability — the ability to reverse blockchain transactions — would help prevent crime. One of the advantages of cryptocurrency is that it is possible for the market — individuals, traders and banks — to decide if reversibility is wanted. Not only would a new (reversible) cryptocurrency be able to test the acceptance or desire for reversible transactions, it would help to test the idea that reversibility reduces crime. Although cryptocurrency is not a tool of the dark web, it’s sometimes portrayed as such. Fraud, scams and other forms of crime do happen and are growing in proportion with the amount of money invested and th...
Bitcoin derivatives data reflects traders’ belief that $20K will become support
Bitcoin (BTC) showed strength on Oct. 4 and 5, posting a 5% gain on Oct. 5 and breaking through the $20,000 resistance. The move liquidated $75 million worth of leverage short (bear) positions and it led some traders to predict a potential rally to $28,000. $BTC #Bitcoin Shared this descending channel 2 days ago.$BTC has managed to break through the middle line.Next target = Upper channel trendline = ~21.5k. In case of a breakout, 28k-30k are possible. pic.twitter.com/dyqMLdcXZ4 — ⓗ (@el_crypto_prof) October 4, 2022 As described by Moustache, the descending channel continues to exert its pressure, but there could be enough strength to test the upper channel trendline at $21,500. The price action coincided with improving conditions for global equity markets on Oct. 4, as the S&P 50...
Russia blocks OKX website for alleged unreliable financial information: Reports
The website of crypto exchange OKX was blocked in Russia by the state media monitoring service Roskomnadzor on Oct. 4. The agency told the TASS news agency that the website was blocked at “the request of the Prosecutor General’s Office for the dissemination of unreliable socially significant information of a financial nature.” Roskomnadzor told local news outlet RBC that OKX had “published information related to the activities of financial pyramids, as well as information on the provision of financial services by persons who do not have the right to provide them” under Russian law. Although the website is blocked in Russia, it remains freely accessible through a VPN. According to another local report, the administration of the OKX Russian-language Discord channel stated, “We do not r...
Disasters divert Biden’s fall agenda
The storms also knocked Biden’s fall agenda off course. The government’s sudden pivot toward hurricane response changed the president’s schedule and his tone heading into the final sprint before the midterm elections. The back-to-back hurricanes, ensuing federal recovery and media frenzy quickly turned Biden into a disaster president. “No one would want this, and it obviously wasn’t planned or desired,” said Celinda Lake, a Democratic strategist who was a pollster for Biden’s 2020 campaign. But, she added, “Biden always excels when you need a leader who is empathetic to people’s situation and rises above partisan politics.” Biden himself has predicted that rebuilding could take years. But in the short term, Democrats think Biden has an opportunity to showcase his statesmanship while also e...
