crypto blog
Ray Dalio acknowledges he holds Bitcoin in his portfolio, albeit a tiny portion
Billionaire hedge fund manager Ray Dalio has recently had a change of heart on the flagship cryptocurrency The Bridgewater Associates founder previously showed scepticism on Bitcoin for its volatility, rooting for gold instead. His stance seems to have changed Hedge fund manager Ray Dalio has moved his tent’s posts closer to the Bitcoin camp, with his recent revelation coming months after a change of tune on Bitcoin. The billionaire investor, known for popularising risk parity, currency overlay and global inflation-indexed bond management, previously preached against Bitcoin and other crypto assets. He held that the leading crypto Bitcoin could be banned by governments should it evolve and emerge as a serious competitor to fiat currencies, therefore, preventing capital flow. Bitcoin ...
Brazil’s Federal Revenue now requires citizens to pay taxes on like-kind crypto trades
Brazil’s Federal Reserve (RFB) has declared that Brazilian investors in the crypto-asset market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin (BTC) for Ethereum (ETH). The RFB’s declaration was published in the Diário Oficial da União and was the result of a consultation made by a citizen of the country to the regulator. At the end of last year, the group issued an opinion in which it claimed that trading between cryptocurrency pairs is taxable even if there is no conversion to the real (Brazil’s national currency). Although it does not specify what can be understood as “profit,” since in the exchange of one crypto asset for another there is no capital gain in fiat currency, it points out...
Polkadot parachains spike after the launch of a $250M aUSD stablecoin fund
Crypto prices have been exploring new lows for weeks and currently it’s unclear what it will take to reverse the trend. Despite the downtrend, cryptocurrencies within the Polkadot (DOT) ecosystem began to rally on May 24 and have managed to maintain gains ranging from 10% to 25%, a possible sign that certain sub-sectors of the market are on the verge of a breakout. Here’s a look at three Polkadot ecosystem protocols that have seen their token prices trend higher in recent days. Acala launches a $250 million aUSD ecosystem fund Acala (ACA) is the leading decentralized finance (DeF) platform on the Polkadot network, primarily due to the launch of aUSD, the first native stablecoin in the Polkadot ecosystem. Following the collapse of Terra’s LUNA and TerraUSD (UST), traders we...
Bankman-Fried faces down roomful of futures industry insiders at CFTC roundtable
FTX CEO Sam Bankman-Fried did a lot of talking at the United States Commodity Futures Trading Commission (CFTC) staff roundtable on non-intermediation Wednesday. He fielded questions and issues from 31 industry professionals about the FTX.US application to offer clearing of margined products, including crypto-based products, without a futures commission merchant (FCM) intermediary. Many participants felt the need to mention their devotion to innovation and declared that they do not see the proposed new technology as an “us versus them” situation. Joe Cisewski of Pantera Capital said that just six or eight clearing houses dominate the market at present, so new competition would not be out of place. Like many others present, he saw the need for more regulatory framework for this new tr...
‘Extreme fear’ grips Bitcoin price, but analysts point to signs of a potential reversal
The cryptocurrency market settled into a holding pattern on May 25 after traders opted to sit on the sidelines ahead of the midday Federal Open Market Committee (FOMC) meeting where the Federal Reserve signaled that it intends to continue on its path of raising interest rates. According to data from Alternative.me, the Fear and Greed Index seeing its longest run of extreme fear since the market crash in Mach 2020. Crypto Fear & Greed Index. Source: Alternative Data from Cointelegraph Markets Pro and TradingView shows that the price action for Bitcoin (BTC) has continued to compress into an increasingly narrow trading range, but technical analysis indicators are not providing much insight on what direction a possible breakout could take. BTC/USDT 1-day chart. Source: TradingView Here’s ...
If you are looking to get into music cryptocurrencies, here are your best options for May
Audius (AUDIO), Opulous (OPUL), and The HUSL (HUSL) are some of the best Music tokens that you can get. Each token has showcased solid signs of growth and numerous updates to its ecosystem. AUDIO is up 10% in the last 24 hours, OPUL is up 3%, and HUSL also has potential for growth. Audius (AUDIO), Opulous (OPUL), and The HUSL (HUSL) are solid Music token choices that you can get on May 25, 2022. On May 17, we saw a sneak peek at the HUSLVERSE, where the platform teased us about its future. On May 20, 2022, Audius announced that Music NFT Playlists became available on the platform. This allowed users to listen to and showcase all of their Music NFTs minted on Ethereum and Solana through a single auto-generated playlist directly from the platform. Opulous announced the release of ArdAdz...
India’s crypto exchange CoinSwitch calls for regulatory clarity
The country’s central bank has previously raised concerns over the assets’ threat to the country’s macro-economic and financial stability Last month, two major exchanges disabled deposits via the popular payment system in use within the country The uncertainty surrounding India’s crypto space has left traders and investors with doubts and strings of unanswered questions. This murky scenario has created mixed signals in the country with one of the highest potentials for crypto investors – India is the second-most populous country in the world – and threatened the freedom of exchanges to operate freely. New Delhi’s income tax imposition on crypto could be a sign of approval The central bank’s growing concern for investor welfare is warranted, cautioning that dealing in digital assets is at i...
Devon Henry Launches CryptoFederacy NFT Art Collection to Raise 13 Million Dollars for Social Causes
Richmond, VA, 25th May, 2022, Chainwire [embedded content] In 2020, Devon Henry said yes to a job that no other contractor had the courage to accept. The story of Henry’s role will likely be told in history books– as depicted in the recent front-page feature of The New York Times. Since 2020, Henry and his construction teams have meticulously and safely removed over 23 Confederate statues across the former Confederate South. Henry is now repurposing this history into a charitable CryptoFederacy project that highlights 13-star causes and changemakers via the 13 Stars NFT Collection that drops on June 19, 2022, at www.CryptoFederacy.com. A Monumental Task “The task of dismantling these statues has literally been monumental”, states Devon Henry, who faced harassment and even death threats, as...
StarkWare nets $100M as investors bank on layer-2 success
Ethereum (ETH) layer-2 developer StarkWare has raised a further $100 million in its latest fundraising round despite the prevailing downturn in cryptocurrency markets. StarkWare’s series D fundraising round sees the firm’s valuation up to $8 billion, marking a four-fold increase in value just six months after its Series C round in November 2021. Tech investment firm Greenoaks Capital led the latest fundraising round in addition to private equity firm Coatue, Tiger Global and other investors. StarkWare has established itself as a major player in the Ethereum layer-2 scaling space, boasting more transaction throughput than the Bitcoin network and collectively more than all other layer-2 platforms in 2022. The firm makes use of rollup technology for its Ethereum layer-2 scaling platforms. By ...
GPU prices are still on a decline: Is Bitcoin’s sorrow gamers’ joy?
The prices of graphics processing units (GPUs), also known as graphics cards, are undoubtedly still a far cry from the manufacturer’s suggested retail price (MSRP). However, they aren’t what they used to be either, especially considering what GPU prices looked like just a year ago. For instance, the price of a GPU from Nvidia GeForce RTX 30-series is 14% over its MSRP, according to reports from 3D Center. Whereas AMD’s Radeon RX 6000 is up 7% from its MSRP from April 17 and May 8. On the other hand, it is the first time since January that AMD’s Radeon RX 6000 dropped below 10% over MSRP. Meanwhile, just a month ago, these same prices were 19% and 12% above their MSRPs, respectively. The Nvidia RTX 3080 currently goes for a price range between $1,000 to $1,300. Despite being at such a long ...
Crypto is changing how humanitarian agencies deliver aid and services
The primary use case for cryptocurrency in most wealthy countries is acquiring it and holding it, trading it, or using it in various other ways to make more money. In the developing world, where access to financial and banking systems is limited or nonexistent, innovative humanitarian organizations are piloting micro-blockchain ecosystems. In the summer of 2021, Hope for Haiti was ready to launch a cryptocurrency pilot program to provide 150 mothers with cellphones, digital wallets and payment cards that use near-field communication technology. Each mom participating in its community nutrition program was set to receive $50 per month in cUSD for six months to spend on family essentials. A select group of local vendors was trained to use the system and poised to accept the cryptocurrency pa...
Singapore venture firm launches $100M Web3 and metaverse fund
Crypto-focused venture firm NGC Ventures has launched a new ecosystem fund dedicated to Web3 projects, underscoring heightened investor demand for startups that are contributing to the development of a decentralized internet. NGC Metaverse Ventures, the company’s third blockchain fund, raised $100 million from investors that included Babel Finance, Huobi Ventures, Nexo Ventures, Altonomy and GBIC. The fund will allocate capital towards “high-potential projects” in the Web3 economy, according to Roger Lim, NGC Ventures’ general partner. The Web3 fund has already invested in three startups, NGC disclosed on Wednesday. Based in Singapore, NGC Ventures was founded in 2017 as a blockchain and fintech-focused venture firm. It was an early investor in Solana (SOL), Algorand (ALGO) and Oasis...
