Crypto news
PraSaga awarded U.S. patent for placing computer operating system onto the blockchain
According to a new United States Patent and Trademark Office publication on Tuesday, Swiss-based blockchain startup PraSaga has been awarded a patent placing its operating system, dubbed “SagaOS,” on the blockchain. Titled “Systemic Extensible Blockchain Object Model Comprising A First-class Object Model And A Distributed Ledger Technology,” the methods described in U.S. patent no. 11436039B2 relate to processing multiple message passing transactions via blockchain. At present, smart contracts only allow for processing just one transaction or action at any given time. However, PraSaga claims that its proprietary methods, as described in the patent, can allow for the execution of multiple actions simultaneously and in greater numbers. The SagaOS team said they ...
Bitcoin price falls under $19K as data shows pro traders avoiding leverage longs
An $860 surprise price correction on Sept. 6 took Bitcoin (BTC) from $19,820 to $18,960 in less than two hours. The movement caused $74 million in Bitcoin futures liquidations at derivatives exchanges, the largest in almost three weeks. The current $18,733 level is the lowest since July 13 and marks a 24% correction from the rally to $25,000 on Aug. 15. Bitcoin/USD 30-min price. Source: TradingView It is worth highlighting that a 2% pump toward $20,200 happened in the early hours of Sept. 6, but the move was quickly subdued and Bitcoin resumed trading near $19,800 within the hour. Ether’s (ETH) price action was more interesting, gaining 7% in the 48 hours preceding the market correction. Any conspiracy theories regarding investors changing their position to favor the altcoin can be dismiss...
New finance minister Kwasi Kwarteng leaves crypto policy in the UK unclear
Recently elected Conservative Party Leader and Prime Minister of the United Kingdom Liz Truss has appointed Kwasi Kwarteng as the country’s newest chancellor of the exchequer, or chief financial minister. In a Tuesday announcement, Truss’ office named Kwarteng as the next U.K. finance minister, replacing Nadhim Zahawi, who served as chancellor of the exchequer for three months following Rishi Sunak’s resignation in July. Kwarteng was most recently the U.K. government’s secretary of state for business, energy and industrial strategy in addition to being a Member of Parliament since 2010. The Rt Hon Kwasi Kwarteng MP @KwasiKwarteng has been appointed Chancellor of the Exchequer @HMTreasury.#Reshuffle pic.twitter.com/6YQy0YuQPs — UK Prime Minister (@10DowningStreet) September 6, 2022 Queen El...
Trademark applications for crypto, NFTs and Metaverse surge in 2022: Report
The number of U.S. trademarks filed related to cryptocurrencies, nonfungible tokens (NFTs), Web3 and the Metaverse since January have reportedly passed those filed in 2021. According to data compiled by intellectual property lawyer Mike Kondoudis on Tuesday, individuals and businesses filed more than 3,600 trademark applications for cryptocurrencies and crypto-related services with the United States Patent and Trademark Office as of Aug. 31, compared to 3,516 in all of 2021. In addition, Kondoudis reported that the number of NFT applications had surged even higher — more than 5,800 in 2022 compared to 2,087 in 2021 — while the number of trademark filings related to the Metaverse or Web3 had more than doubled: 1,866 in 2021 and 4,150 as of August 2022. So far in 2022 over 5800 trademark app...
Circle co-founder says converged dollar books on Binance would be good for USDC
According to a new Twitter post, Jeremy Allaire, co-founder and CEO of USD Coin (USDC) stablecoin issuer Circle, said that the recent decision by Binance to merge stablecoin dollar books is “a good thing” for USDC. “This move would lead to a gradual net share shift from USDT to BUSD and USDC,” said Allaire. The day before, Binance announced it would cease trading support for USDC and auto-convert deposits after Sept. 29 to a consolidated Binance USD balance comprising other stablecoins pegged to the U.S. dollar. Users will be able to withdraw individual constituents from the consolidated balance at par value. Some users pointed out that it’s now possible to deposit and withdraw USDC seamlessly in Binance. Before the change, it was required to first conve...
Will the Ethereum Merge crash or revive the crypto market? | Find out now on The Market Report
On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss the Ethereum Merge and how it might impact the crypto market To kick things off, we broke down the latest news in the markets this week. Surge or purge? Why the Merge may not save Ether (ETH) price from “Septembear.” Options data, macroeconomic catalysts and technical signals suggest a decline in Ether price is on the table despite the Merge. Ethereum’s native token, Ether, is not immune to downside risk in September after rallying approximately 90% from its bottom of around $880 in June. Can Ethereum prove analysts wrong and break out in price following the Merge or has the price already been factored in and we’ve already seen the price spike for the end of this year? ETH Merge: CoinGecko c...
Traders say Bitcoin price bounce is overdue after a ‘massive’ BTC long position appears
Bitcoin (BTC) traded in an increasingly narrow range on Sept. 6 as bets piled in over an imminent breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance futures giant sucks in spent BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying under $20,000 for a fourth straight day with bulls failing to crack resistance. As many wondered when and how the latest consolidation phase would end, two popular social media traders noticed an ongoing accumulation trend by an unknown large-scale Binance futures trading entity. With retail investors selling, that entity had spent several days soaking up the liquidity, and the result was likely obvious. “Bounce incoming,” Il Capo of Crypto predicted in part of an update on the phenomenon, describing the entity...
Hive Blockchain explores new mineable coins ahead of Ethereum merge
Cryptocurrency miner Hive Blockchain has been working to replace the mining of Ether (ETH) with other coins in the event of Ethereum’s upcoming transition to proof-of-stake, or PoS. The Canadian crypto mining firm has been analyzing options for mining with its GPU stash ahead of the Ethereum Merge, Hive said in its latest production update on Tuesday. According to the update, Hive started implementing beta-testing of various GPU-mineable coins this week as the Ethereum Merge PoS is expected to occur in mid-September. Hive’s technical division is specifically implementing a strategy to optimize its Ethereum mining capacity, which amounts to 6.5 terahashes per second. “The company acknowledges the potential Ethereum Merge to Proof of Stake,” Hive said in the update. It noted that it sees a c...
Exiled Myanmar democratic leaders want to issue CBDC to fund the revolution
Half a year after the military junta in Myanmar revealed its plans to launch a digital currency, the country’s government, ousted in a coup in 2021, voices its own intention to launch one using frozen national funds. In a Sept. 6 interview with Bloomberg, the minister of planning of exiled Myanmar’s National Unity Government, Tin Tun Naing, asked for the “U.S. blessing” to use “virtually” the country’s reserves, frozen by the Federal Reserve Bank of New York since Feb. 2021. The funds Naing mentions have been frozen on Singaporean, Thai and Japanese accounts and could amount to billions of dollars according to Bloomberg. While Naing doubts the United States could decide to allocate these assets directly to National Unity Government, he points to the possibility of using them as ...
Crypto investment product firm 21.co raises $25M to reach $2B valuation
21.co, the new parent firm of exchange-traded products (ETP) provider 21Shares, has become “Switzerland’s largest crypto unicorn,“ the firm announced on Tuesday. It raised $25 million in a funding round led by London-based hedge fund Marshall Wace. The new funding brings the firm’s valuation to $2 billion. 21.co is designed to unite 21Shares with third-party token provider Amun and other upcoming crypto projects aiming to build bridges into the crypto world, 21.co founder Hany Rashwan told Cointelegraph. All crypto ETP products launched by 21Shares will maintain the same nomenclature, Rashwan said. He also said that the new name won’t change much about the way 21Shares does business. According to Rashwan, the newly raised funds will help 21.co to continue expanding its business...
Reddit NFT avatars selling for a premium on OpenSea
Sales of recently launched Reddit blockchain-based avatars are rising on nonfungible token (NFT) marketplace OpenSea, outperforming the platform’s proprietary store. Reddit, the “front page” of the internet, plugged into the burgeoning world of NFTs with the announcement of collectible avatars in July 2022. The avatars became available to users in August and are already generating thousands of dollars in sales for artists. Reddit users are able to purchase a variety of avatars for their profiles using Vault, Reddit’s cryptocurrency wallet, with credit and debit cards accepted to make payments for the blockchain-based NFTs. Reddit Avatars are created by a number of independent artists that use the platform and are minted on purchase on the Polygon blockchain. Given that OpenSea features cro...
Vitalik reminds node operators to update client before the Bellatrix upgrade
Ethereum co-founder Vitalik Buterin is reminding node operators to upgrade their clients before the Bellatrix “hard fork,” slated for Sept. 6. Buterin said that the scheduled upgrade will be the final update that prepares the Beacon chain (proof-of-stake chain) for the Merge. The merge is still expected to happen around Sep 13-15. What’s happening today is the Bellatrix hard fork, which *prepares* the chain for the merge. Still important though – make sure to update your clients! — vitalik.eth (@VitalikButerin) September 6, 2022 An Ethereum client is the software that allows Ethereum nodes to read blocks on the blockchain and smart contracts. A “node” is the running piece of the client software. In order to run a node, one has to first download an Ethereum client applicati...
